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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Cash $ 9,665,300 $ 25,629,200
Restricted Cash 597,600 597,600
Accounts Receivable, net 1,707,000 1,113,500
Contract Assets 0 2,167,200
Total Notes Receivable 4,525,300 2,000,000
Prepaid Expense and Other Assets 5,318,100 2,778,100
Real Estate 205,478,200 122,136,100
Property and Equipment, net 2,289,500 9,199,700
Right of Use Assets 1,926,100 3,429,700
Deferred Tax Asset 4,659,300 649,000
TOTAL ASSETS 236,166,400 169,700,100
LIABILITIES    
Accounts Payable and Accrued Expenses 14,090,700 10,662,800
Dividends Payable 634,700 670,900
Contract Liabilities 497,400 0
Deferred Revenue 52,000 44,800
Note Payable D&O Insurance 378,500 903,800
Revolving Line of Credit Loan, net of Unamortized Debt Discount of $0.6 million and $0 respectively 24,359,700 0
Equipment Loans 2,057,100 5,268,500
Finance Leases 154,500 543,400
Construction Loans, net of Unamortized Debt Discount of $1.9 million and $4.4 million respectively 107,483,700 34,957,100
Construction Loans - Related Parties, net of Unamortized Debt Discount of $0.1 million and $1.1 million respectively 8,122,800 13,426,600
Right of Use Liabilities 2,779,400 3,484,400
TOTAL LIABILITIES 160,610,500 69,962,300
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY    
Preferred Stock, no par value per share, 10,000,000 shares authorized and 3,799,799 issued and outstanding at December 31, 2022 and 4,016,955 issued and outstanding at December 31, 2021 62,912,100 66,507,500
Common Stock, no par value per share, 50,000,000 shares authorized and 718,835 issued and outstanding at December 31, 2022 and 657,767 issued and outstanding at December 31, 2021 35,704,700 32,122,700
Additional Paid In Capital 1,266,300 752,700
Retained Earnings (Accumulated Deficit) (24,327,200) 1,646,500
Stockholders’ Equity 75,555,900 101,029,400
Non-Controlling Interest 0 (1,291,600)
TOTAL STOCKHOLDERS’ EQUITY 75,555,900 99,737,800
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 236,166,400 $ 169,700,100