PREPAID EXPENSES and OTHER ASSETS	9 Months Ended
Sep. 30, 2023
PREPAID EXPENSES and OTHER ASSETS
PREPAID EXPENSES and OTHER ASSETS	NOTE 4. PREPAID EXPENSES and OTHER ASSETS Approximately $3,687,000, and $3,406,000 of security deposits are included in prepaid expenses and other assets at September 30, 2023 and December 31, 2022, respectively. The security deposits and escrow accounts are restricted cash. Also, included in prepaid expenses and other assets at September 30, 2023 and December 31, 2022 is approximately $1,665,000 and $1,979,000, respectively, held in escrow to fund future capital improvements, approximately $689,000 and $573,000 respectively in interest receivable and U.S. Treasury bills. Intangible assets on the acquisition of rental properties are included in prepaid expenses and other assets. Intangible assets are approximately $1,135,000 and $0 net of accumulated amortization of approximately $607,000 and $1,418,000 at September 30, 2023, and at December 31, 2022 respectively. Financing fees in association with the line of credit of approximately $67,000 and $109,000 are net of accumulated amortization of approximately $115,000 and $70,000 at September 30, 2023 and December 31, 2022 respectively.

PREPAID EXPENSES and OTHER ASSETS

9 Months Ended

Sep. 30, 2023

NOTE 4. PREPAID EXPENSES and OTHER ASSETS

Approximately $3,687,000, and $3,406,000 of security deposits are included in prepaid expenses and other assets at September 30, 2023 and December 31, 2022, respectively. The security deposits and escrow accounts are restricted cash.

Also, included in prepaid expenses and other assets at September 30, 2023 and December 31, 2022 is approximately $1,665,000 and $1,979,000, respectively, held in escrow to fund future capital improvements, approximately $689,000 and $573,000 respectively in interest receivable and U.S. Treasury bills.

Intangible assets on the acquisition of rental properties are included in prepaid expenses and other assets. Intangible assets are approximately $1,135,000 and $0 net of accumulated amortization of approximately $607,000 and $1,418,000 at September 30, 2023, and at December 31, 2022 respectively.

Financing fees in association with the line of credit of approximately $67,000 and $109,000 are net of accumulated amortization of approximately $115,000 and $70,000 at September 30, 2023 and December 31, 2022 respectively.