Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Schedule of Calculation of Numerator and Denominator in Earnings per Share

The following table provides a reconciliation of the numerator and denominator of the EPS calculations:

	Three months ended March 31,
	2025		2024
Numerator
Net income	$	1,445,000	$	323,000
Preferred stock dividends	(1,864,000)		(2,688,000)
Deemed contribution related to preferred stock repurchases	10,249,000		—
Net income (loss) attributable to common shares	$	9,830,000	$	(2,365,000)
Denominator
Weighted average number of common shares outstanding	13,718,169		13,718,169
Net income (loss) per common share attributable to common shareholders	$	0.72	$	(0.17)