XML 11 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Cash $ 22,015,000 $ 25,629,200
Restricted Cash 597,600 597,600
Accounts Receivable, net 1,962,600 1,113,500
Contract Assets, net 1,367,400 2,167,200
Notes Receivable 10,874,400 2,000,000
Prepaid Expense and Other Assets 2,515,900 2,778,100
Real Estate 154,610,400 122,136,100
Property, Plant and Equipment, net 10,288,300 9,199,700
Right of Use Assets 2,554,500 3,429,700
Deferred Tax Asset 1,519,000 649,000
TOTAL ASSETS 208,305,100 169,700,100
LIABILITIES    
Accounts Payable and Accrued Expenses 16,744,900 10,662,800
Dividends Payable 634,700 670,900
Deferred Revenue 62,200 44,800
Note Payable - D&O Insurance 130,600 903,800
Revolving Line of Credit Loan, net of Unamortized Debt Discount of $0.9 million and $0 respectively 19,374,200 0
Equipment Loans 4,818,300 5,268,500
Finance Leases 110,600 543,400
Construction Loans, net of Unamortized Debt Discount of $1.8 million and $4.4 million respectively 59,144,900 34,957,100
Construction Loans - Related Party, net of Unamortized Debt Discount of $0.01 million and $1.1 million respectively 10,666,000 13,426,600
Right of Use Liabilities 3,357,800 3,484,400
TOTAL LIABILITIES 115,044,200 69,962,300
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY    
Preferred Stock, No Par, 10,000,000 shares authorized and 3,799,799 issued and outstanding at June 30, 2022 and 4,016,955 issued and outstanding at December 31, 2021 62,912,100 66,507,500
Common Stock, No Par, 50,000,000 shares authorized and 14,348,555 issued and outstanding at June 30, 2022 and 13,155,342 issued and outstanding at December 31, 2021 35,704,700 32,122,700
Additional Paid In Capital 1,105,500 752,700
Retained Earnings (Accumulated Deficit) (6,461,400) 1,646,500
Stockholders’ Equity 93,260,900 101,029,400
Non-Controlling Interest 0 (1,291,600)
TOTAL STOCKHOLDERS’ EQUITY 93,260,900 99,737,800
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 208,305,100 $ 169,700,100