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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flow from Operating Activities:    
Net Income (Loss) $ (1,172,839) $ 18,550,919
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:    
Depreciation and Amortization 14,335,715 11,707,710
Amortization of Intangible Liabilities to Income Property Revenue (1,351,927) (1,810,459)
Loan Cost Amortization 337,861 323,672
Amortization of Discount on Convertible Debt 1,067,199 1,009,847
Gain on Disposition of Property, Plant, and Equipment and Intangible Assets (5,788,088) (2,187,332)
Gain on Disposition of Assets Held for Sale (1,930,465) (18,681,864)
Loss on Disposition of Commercial Loan and Master Lease Investments 352,959  
Gain on Extinguishment of Debt (1,141,481)  
Impairment Charges 1,904,500  
Accretion of Commercial Loan and Master Lease Investments Origination Fees (163,530) (67,432)
Non-Cash Imputed Interest on Commercial Loan and Master Lease Investments (290,312) (94,761)
Deferred Income Taxes (10,756,434) 3,586,574
Unrealized Loss on Investment Securities 7,097,961  
Non-Cash Compensation 2,135,278 2,059,167
Decrease (Increase) in Assets:    
Refundable Income Taxes   225,024
Golf Assets Held for Sale   (40,159)
Land and Development Costs (468,106) 2,243,651
Mitigation Credits 3,083,304 14,444
Other Assets (2,814,578) (2,865,683)
Increase (Decrease) in Liabilities:    
Accounts Payable 320,183 1,587,549
Accrued and Other Liabilities 4,010,306 429,590
Deferred Revenue (25,614) 256,061
Golf Liabilities Held for Sale   381,753
Income Taxes Payable 3,158,007 112,896
Net Cash Provided By Operating Activities 11,899,899 16,741,167
Cash Flow from Investing Activities:    
Acquisition of Property, Plant, and Equipment and Intangible Lease Assets and Liabilities (165,418,743) (75,313,805)
Acquisition of Commercial Loan and Master Lease Investments (27,839,277) (32,257,500)
Acquisition of Mitigation Credits (2,980,875)  
Cash Contribution for Interest in Joint Venture (35,595) (62,560)
Proceeds from Disposition of Property, Plant, and Equipment, Net, and Assets Held for Sale 49,645,518 80,321,554
Principal Payments Received on Commercial Loan and Master Lease Investments 20,981,221  
Net Cash Used In Investing Activities (125,647,751) (27,312,311)
Cash Flow from Financing Activities:    
Proceeds from Long-Term Debt 62,641,000 122,500,000
Payments on Long-Term Debt (64,089,503) (88,901,414)
Cash Paid for Loan Fees (2,083,011) (469,885)
Cash Used to Purchase Common Stock (4,100,021) (31,096,662)
Cash Paid for Vesting of Restricted Stock (538,081) (303,314)
Dividends Paid (4,209,502) (1,564,523)
Net Cash Provided By (Used In) Financing Activities (12,379,118) 164,202
Net Decrease in Cash (126,126,970) (10,406,942)
Cash, Beginning of Period 134,904,686 22,031,964
Cash, End of Period 8,777,716 11,625,022
Reconciliation of Cash to the Consolidated Balance Sheets:    
Cash and Cash Equivalents 6,351,772 5,411,727
Restricted Cash 2,425,944 6,213,295
Total Cash as of September 30, 2020 and 2019, respectively $ 8,777,716 $ 11,625,022