Note 12 - Related Party Receivables

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

12.  RELATED PARTY RECEIVABLES

Since 2019, the Company has loaned money to the Doran Canterbury I and II joint ventures in member loans totaling approximately $3,812,000 and $2,957,000 as of December 31, 2024 and 2023, respectively. These member loans bear interest at the rate equal to the Prime Rate plus two percent per annum and totaled $898,000 and $522,000 as of December 31, 2024 and 2023, respectively. The Company expects to be fully reimbursed for these member loans when the joint ventures achieve positive cash flow.

The Company has also recorded related party receivables of approximately $34,000 and $47,000 as of December 31, 2024 and 2023, respectively, for various related costs incurred by the Company. The Company expects to be fully reimbursed for these costs by the related parties in the following year.