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Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Assets    
Loans receivable $ 41,241,820 $ 34,755,320
Interest receivable on loans 457,118 346,519
Cash and cash equivalents 125,030 96,299
Deferred financing costs 32,110 56,193
Investment in privately held company 25,000 35,000
Other assets 78,783 44,193
Total assets 41,959,861 35,333,524
Liabilities:    
Line of credit 13,165,999 6,482,848
Senior secured notes (net of deferred financing costs of $660,127 and $697,669, respectively) 5,339,873 5,302,331
Deferred origination fees 361,523 315,411
Accounts payable and accrued expenses 101,488 105,541
Other liabilities 25,000
Dividends payable 813,503
Total liabilities 18,993,883 13,019,634
Commitments and contingencies
Stockholders' equity:    
Preferred shares - $.01 par value; 5,000,000 shares authorized; no shares issued
Common shares - $.001 par value; 25,000,000 authorized; 8,312,036 issued; 8,101,934 and 8,135,036 outstanding, respectively 8,312 8,312
Additional paid-in capital 23,140,546 23,134,013
Treasury stock, at cost – 210,102 and 177,000 (541,491) (369,335)
Retained earnings (Accumulated deficit) 358,611 (459,100)
Total stockholders' equity 22,965,978 22,313,890
Total liabilities and stockholders' equity $ 41,959,861 $ 35,333,524