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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Cash Flow from Operating Activities:          
Net Income     $ 17,064,897 $ 25,075,207  
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:          
Depreciation and Amortization     7,420,874 7,755,317  
Amortization of Intangible Liabilities to Income Property Revenue $ (623,000) $ (600,000) (1,203,900) (1,179,345)  
Loan Cost Amortization 107,000 137,000 213,008 286,639  
Amortization of Discount on Convertible Debt 337,000 316,000 667,847 626,562  
Gain on Disposition of Property, Plant, and Equipment and Intangible Assets       (22,035,666)  
Gain on Disposition of Assets Held for Sale     (18,681,864)    
Accretion of Commercial Loan Origination Fees     (7,431)    
Amortization of Fees on Acquisition of Commercial Loan Investments       (29,684)  
Deferred Income Taxes     3,633,010 8,618,862  
Non-Cash Compensation     1,445,876 897,325  
Decrease (Increase) in Assets:          
Refundable Income Taxes     225,024 40,918  
Golf Assets Held for Sale     (140,927)    
Land and Development Costs     2,940,632 (2,690,531)  
Impact Fees and Mitigation Credits     14,444 400,033  
Other Assets     (1,082,866) (1,261,751)  
Increase (Decrease) in Liabilities:          
Accounts Payable     (331,570) (134,802)  
Accrued and Other Liabilities     849,980 (2,622,060)  
Deferred Revenue     101,806 515,483  
Golf Liabilities Held for Sale     185,859    
Income Taxes Payable     28,970    
Net Cash Provided By Operating Activities     13,343,669 14,262,507  
Cash Flow from Investing Activities:          
Acquisition of Property, Plant, and Equipment and Intangible Lease Assets and Liabilities     (41,448,286) (28,908,410)  
Acquisition of Commercial Loan Investments     (7,840,000)    
Acquisition of Land       (2,141,853)  
Cash Contribution for Interest in Joint Venture     (33,415) (2,050,001)  
Proceeds from Disposition of Property, Plant, and Equipment, Net, and Assets Held for Sale     77,661,911 26,377,525  
Principal Payments Received on Commercial Loan Investments       8,960,467  
Net Cash Provided By Investing Activities     28,340,210 2,237,728  
Cash Flow from Financing Activities:          
Proceeds from Long-Term Debt     96,500,000 36,300,000  
Payments on Long-Term Debt     (65,737,247) (55,667,484)  
Cash Paid for Loan Fees     (393,184) (228,473)  
Cash Proceeds from Exercise of Stock Options and Stock Issuance       115,506  
Cash Used to Purchase Common Stock     (31,096,662) (2,192,445)  
Cash Paid for Vesting of Restricted Stock     (303,315) (498,374)  
Dividends Paid     (1,029,028) (664,495)  
Net Cash Used In Financing Activities     (2,059,436) (22,835,765)  
Net Increase (Decrease) in Cash     39,624,443 (6,335,530)  
Cash, Beginning of Year     22,031,964 13,067,540 $ 13,067,540
Cash, End of Period 61,656,407 6,732,010 61,656,407 6,732,010 22,031,964
Reconciliation of Cash to the Consolidated Balance Sheets:          
Cash and Cash Equivalents 2,621,257 4,312,324 2,621,257 4,312,324 2,310,489
Restricted Cash 59,035,150 2,419,686 59,035,150 2,419,686 19,721,475
Total Cash as of June 30, 2019 and 2018, respectively $ 61,656,407 $ 6,732,010 $ 22,031,964 $ 13,067,540 $ 13,067,540