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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flow from Operating Activities:    
Net Income (Loss) $ (12,261,859) $ 6,468,099
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:    
Depreciation and Amortization 4,552,471 3,346,287
Amortization of Intangible Liabilities to Income Property Revenue (474,023) (580,655)
Loan Cost Amortization 149,503 105,841
Amortization of Discount on Convertible Debt 503,987 331,260
Gain on Disposition of Assets Held for Sale   (6,869,957)
Gain on Extinguishment of Debt (636,937)  
Impairment Charges 1,904,500  
Accretion of Commercial Loan Origination Fees (87,590)  
Non-Cash Imputed Interest on Commercial Loan Investment (95,566)  
Deferred Income Taxes (6,472,549) 981,616
Unrealized Loss on Investment Securities 13,706,407  
Non-Cash Compensation 577,964 811,601
Decrease (Increase) in Assets:    
Refundable Income Taxes   225,024
Golf Assets Held for Sale (204) (218,215)
Land and Development Costs (72,885) 19,151
Mitigation Credits (236,838) 14,444
Other Assets (581,394) (626,572)
Increase (Decrease) in Liabilities:    
Accounts Payable (146,465) (46,184)
Accrued and Other Liabilities 2,887,511 (928,957)
Deferred Revenue (196,295) (579,351)
Golf Liabilities Held for Sale   294,689
Income Taxes Payable 559,433 1,465,653
Net Cash Provided By Operating Activities 3,579,171 4,213,774
Cash Flow from Investing Activities:    
Acquisition of Property, Plant, and Equipment and Intangible Lease Assets and Liabilities (137,997,353) (188,112)
Acquisition of Commercial Loan Investments (6,754,375)  
Cash Contribution for Interest in Joint Venture (4,580) (9,515)
Proceeds from Disposition of Property, Plant, and Equipment, Net, and Assets Held for Sale   24,004,060
Net Cash Provided By (Used In) Investing Activities (144,756,308) 23,806,433
Cash Flow from Financing Activities:    
Proceeds from Long-Term Debt 56,641,000 3,000,000
Payments on Long-Term Debt (21,589,269) (44,070,200)
Cash Paid for Loan Fees (1,879,635)  
Cash Proceeds from Exercise of Stock Options and Stock Issuance 241,141  
Cash Used to Purchase Common Stock (3,914,614) (4,125,194)
Cash Paid for Vesting of Restricted Stock (538,081) (303,315)
Dividends Paid (1,184,653) (534,896)
Net Cash Provided By (Used In) Financing Activities 27,775,889 (46,033,605)
Net Decrease in Cash (113,401,248) (18,013,398)
Cash, Beginning of Year 134,904,686 22,031,964
Cash, End of Period 21,503,438 4,018,566
Reconciliation of Cash to the Consolidated Balance Sheets:    
Cash and Cash Equivalents 18,593,046 2,682,205
Restricted Cash 2,910,392 1,336,361
Total Cash as of March 31, 2020 and 2019, respectively $ 21,503,438 $ 4,018,566