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STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 69,489,294 $ 62,413,011 $ 38,976,374
Adjustments to reconcile net income to net cash used in operating activities:      
Equity in net earnings from investment in joint venture (137,086)    
Depreciation 355,566 358,587 182,786
Loss on sale of property and equipment 6,966 15,000 14,368
Amortization of deferred loan costs 404,146 421,186 408,674
Stock compensation expense 1,422,630    
Amortization of operating lease right-of-use assets 525,434    
Net change in operating assets and liabilities:      
Accounts receivable 109,684 (1,178,383) (563,109)
Related party receivable (1,437,235)    
Inventories (26,673,147) (12,726,300) 29,294,686
Lot purchase agreement deposits (858,435) 417,025 (1,290,574)
Prepaid expenses and other assets (2,408,936) (1,983,511) 229,838
Accounts payable (6,663,814) 9,937,222 3,869,223
Operating lease liabilities (525,434)    
Other accrued expenses and liabilities 1,007,089 644,199 659,436
Net cash flows provided by operating activities 34,616,722 58,318,036 71,781,702
Cash Flows from Investing Activities      
Purchases of property and equipment (171,685) (404,244) (805,294)
Proceeds from the sale of property and equipment 13,808 10,190 20,000
Capital contribution in joint venture (49,000)    
Net cash flows provided by (used in) investing activities (206,877) (394,054) (785,294)
Cash Flows from Financing Activities:      
Proceeds from homebuilding debt 179,336,312 285,392,912 194,418,471
Repayments of homebuilding debt (170,810,631) (262,064,474) (210,255,229)
Proceeds from other affiliate debt 10,851,187 10,025,865 13,259,394
Repayments of other affiliate debt (918,453) (5,624,330) (7,499,472)
Repayments on equipment financing (142,536) (43,070) (95,411)
Payment of deferred loan costs   (1,264,403) (337,500)
Distributions and net transfer to shareholders and other affiliates (54,175,689) (33,523,610) (22,330,269)
Changes in net due to and due from shareholders and other affiliates (37,816,087) (28,497,772) (18,579,633)
Net cash flows provided by (used in) financing activities (73,675,897) (35,598,882) (51,419,649)
Net change in cash and cash equivalents (39,266,052) 22,325,100 19,576,759
Cash and cash equivalents, beginning of year 51,504,887 29,179,787 9,603,028
Cash and cash equivalents, end of year 12,238,835 51,504,887 29,179,787
Supplemental cash flow information:      
Cash paid for interest 5,000,196 3,199,503 4,235,364
Conversion of other affiliates debt to homebuilding debt 1,414,681 7,985,557 6,101,195
Acquisition of developed lots from related parties in settlement of due from Other Affiliates 13,504,316 33,170,761 19,541,090
Transfer of constructed model homes to related parties   (1,517,030) (3,690,084)
Contribution of fixed assets   344,511  
Additions of right-of-use lease assets and liabilities 1,585,096    
Transfer of co-obligor debt to land development affiliate 21,160    
Total non-cash activity $ 16,525,253 $ 39,983,799 $ 21,952,201