v3.8.0.1
DEBT (Details 2) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest expense $ 541,282 $ 174,271 $ 1,111,287 $ 214,921
Unrealized loss (gain) on interest rate swaps (see Note 6) 100,006   100,006  
Unsecured Debt [Member]        
Interest expense 81,594 115,707 224,626 144,582
Amortization of deferred financing costs 0 762 1,118 792
Forfeited loan fee 10,000 960 30,000 960
Secured Debt [Member]        
Interest expense [1] 401,174 48,153 667,011 58,742
Amortization of deferred financing costs 53,141 8,689 88,526 9,845
Unrealized loss (gain) on interest rate swaps (see Note 6) $ (4,627) $ 0 $ 100,006 $ 0
[1] Includes $20,831 for the three and nine months ended September 30, 2017, respectively, of monthly payments to settle the Company’s interest rate swaps. Accrued interest payable of $7,172 at September 30, 2017 represented the unsettled portion of the interest rate swaps for the period from origination of the interest rate swap through September 30, 2017. The Company had no swap agreements as of September 30, 2016