XML 13 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 20,583,167 $ (7,412,760)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation 4,003,198 4,268,170
Amortization of debt issuance costs 106,576 106,574
Stock based compensation expense related to issuance of restricted stock 11,601 10,266
Discontinued operating activities 988,364 1,178,594
Discontinued operating activities - loss on extinguishment of debt 286,719  
Discontinued operating activities - gain on sale of real estate, net (27,587,961)  
Increase (decrease) in cash, cash equivalents, and restricted cash from changes in assets and liabilities:    
Other assets (609,301) 397,999
Accounts payable and accrued liabilities 236,392 500,751
Due to affiliates (2,002,026) 1,527,277
Discontinued operating activities - changes in assets and liabilities (719,593) 777,741
Net cash (used in) provided by operating activities (4,702,864) 1,354,612
Cash flows from investing activities:    
Additions to real estate (774,761) (1,923,056)
Discontinued investing activities 70,649,776 (475,902)
Net cash provided by (used in) investing activities 69,875,015 (2,398,958)
Cash flows from financing activities:    
Scheduled principal payments of mortgage loans (1,292,797) (1,256,211)
Discontinued financing activities (55,578,989) (450,000)
Net cash used in financing activities (56,871,786) (1,706,211)
Net change in cash, cash equivalents, and restricted cash 8,300,365 (2,750,557)
Cash, cash equivalents, and restricted cash, beginning of period 8,288,459 12,544,609
Cash, cash equivalents, and restricted cash, end of period 16,588,824 9,794,052
Supplemental disclosures and non-cash transactions:    
Cash paid for interest 6,808,224 6,738,061
Additions to real estate facilities and construction in process included in accounts payable and accrued liabilities   18,727
Distributions payable to preferred unit holders in our Operating Partnership $ 1,062,501 $ 995,217