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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:          
Net income (loss) $ (2,186,652) $ (904,503) $ 5,960,563 $ (4,469,523)  
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:          
Depreciation and amortization     3,675,253 5,017,100  
Amortization of debt issuance costs 95,082 117,954 190,163 241,294  
Stock based compensation expense related to issuance of restricted stock     6,501 11,864  
Forgiveness of PPP Loans   (1,971,157)   (1,971,157)  
Loss on extinguishment of debt     1,985,602    
Gain on sale of real estate, net     (12,101,937)    
Gain on equity method investment     (573,430)    
Increase (decrease) in cash, cash equivalents, and restricted cash from changes in assets and liabilities:          
Other assets     202,021 186,888  
Accounts payable and accrued liabilities     344,327 445,978  
Due to affiliates     178,090 1,290,359  
Net cash (used in) provided by operating activities     (132,847) 752,803  
Cash flows from investing activities:          
Additions to real estate     (905,447) (448,172)  
Net proceeds from sale of real estate     48,503,131    
Distributions of capital from equity method investment     979,131    
Net cash provided by (used in) investing activities     48,576,815 (448,172)  
Cash flows from financing activities:          
Principal payments of KeyBank Bridge Loans     (17,000,000)    
Repayment of Tallahassee Nationwide mortgage loan     (23,500,000)    
Scheduled principal payments of mortgage loans     (708,061) (296,192)  
Net cash used in financing activities     (41,208,061) (296,192)  
Net change in cash, cash equivalents, and restricted cash     7,235,907 8,439  
Cash, cash equivalents, and restricted cash, beginning of period     9,884,580 9,452,993 $ 9,452,993
Cash, cash equivalents, and restricted cash, end of period $ 17,120,487 $ 9,461,432 17,120,487 9,461,432 $ 9,884,580
Supplemental disclosures and non-cash transactions:          
Cash paid for interest     4,006,047 4,774,002  
Additions to real estate facilities and construction in process included in accounts payable and accrued liabilities     15,433 90,167  
Non cash transitions distributions payable to preferred unit holders in our operating partnership     $ 612,558 $ 570,584