XML 14 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 857,680 $ 1,570,611
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 816,064 815,379
Unrealized loss (gain) on marketable equity securities 95,348 (246,703)
Unrealized loss on interest rate cap premium 49,225 6,237
Amortization of loan procurement costs 68,918 69,515
Stock-based compensation 143,929 81,708
Changes in operating assets and liabilities:    
Accounts receivable 13,784 (7,308)
Prepaid expenses and other assets (12,131) (140,934)
Accounts payable and accrued expenses 11,664 161,750
Net cash provided by operating activities 2,044,481 2,310,255
Cash flows from investing activities    
Improvements and equipment additions (62,440) (154,135)
Net cash used in investing activities (62,440) (154,135)
Cash flows from financing activities    
Principal payments on note payable (287,245) (275,472)
Dividends paid (1,621,499) (1,610,067)
Net cash used in financing activities (1,908,744) (1,885,539)
Net increase in cash, cash equivalents, and restricted cash 73,297 270,581
Cash, cash equivalents, and restricted cash, beginning of period 7,028,546 6,515,007
Cash, cash equivalents, and restricted cash, end of period 7,101,843 6,785,588
Supplemental cash flow and noncash information    
Cash paid for interest 358,950 370,723
Supplemental disclosure of noncash activities:    
Dividends payable $ 3,910 $ 3,094