NOTE 10. SUBSEQUENT EVENTS

The Company evaluates subsequent events up until the date the Condensed Consolidated Financial Statements are issued.

Unsecured Credit Facility

On October 25, 2017, the $7,119,739 outstanding balance of the Unsecured Credit Facility was repaid.

Distributions

On October 11, 2017, the Company’s board of directors declared distributions based on daily record dates for the period September 1, 2017 through September 30, 2017 at a rate of $0.0019444 per share per day, or $426,429, on the outstanding shares of the Company’s common stock, which the Company paid on October 11, 2017. Of the $426,429 distribution, $343,491 was reinvested through the Company’s dividend reinvestment plans.

On November 10, 2017, the Company’s board of directors declared distributions based on daily record dates for the period October 1, 2017 through October 31, 2017 at a rate of $0.0018817 per share per day, or $457,963, on the outstanding shares of the Company’s common stock, which the Company paid on November 10, 2017. Of the $457,963 distribution, $371,072 was reinvested through the Company’s dividend reinvestment plans.

Offering Status

Through November 10, 2017, the Company had sold 8,147,894 shares of common stock in the Registered Offering, for aggregate gross offering proceeds of $81,478,943, including 280,757 shares of Class C common stock sold under its Registered DRP Offering for aggregate gross offering proceeds of $2,807,575, and 3,000 shares of common stock in the Class S offering for aggregate offering proceeds of $30,000 including 35 shares of common stock under its Class S dividend reinvestment plan.

Redeemable common stock

For the period from October 1, 2017 through November 10, 2017, the Company redeemed 41,630 shares of Class C common stock for $416,300.