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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net (loss) income $ (608,459) $ 380,190
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 1,333,574 1,339,225
Stock compensation 260,845 280,981
Bad debt expense 54,493 13,416
Gain on sale of real estate assets, net (417,337) (1,522,785)
Net change in fair value marketable securities (72,738) 79,144
Net change in fair value SPAC Trust Account (664,232) (10,182)
Amortization of financing costs 72,879 65,018
Amortization of below-market leases (1,243) (13,723)
Straight-line rent adjustment (157,194) (19,660)
Changes in operating assets and liabilities:    
Other assets 219,199 295,357
Accounts payable and accrued liabilities (764,077) (1,393,193)
Accounts payable and accrued liabilities for the SPAC (137,300) 62,908
Accrued real estate taxes (746,539) (534,956)
Net cash used in operating activities (1,628,129) (978,260)
Cash flows from investing activities:    
Real estate acquisitions (5,039,455) (2,427,890)
Additions to buildings and tenant improvements (597,873) (319,737)
Investment in marketable securities (1,586,042) (172,866)
Proceeds from sale of marketable securities 1,437,717 755,989
Investment of SPAC IPO proceeds into Trust Account (155,403) (134,895,000)
Withdraw from Trust Account for SPAC taxes 200,050 0
Withdraw from Trust Account for Redemption of SPAC Shares 113,831,930 0
Deletions / (additions) to deferred leasing costs 1,936 (18,352)
Proceeds from sales of real estate, net 1,458,822 14,763,130
Net cash provided by (used in) investing activities 109,551,682 (122,314,726)
Cash flows from financing activities:    
Proceeds from mortgage notes payable, net of issuance costs 3,518,981 7,365,855
Repayment of mortgage notes payable (886,707) (3,275,234)
Payment of deferred offering costs 0 (3,159,411)
Distributions to noncontrolling interests, net (518,642) (258,410)
Proceeds from initial public offering of SPAC 0 132,250,000
Redemption of SPAC shares (113,831,930) 0
Dividends paid to Series D Preferred Stockholders (535,448) (539,056)
Dividends paid to Series A Common Stockholders (287,655) (1,298,252)
Net cash (used in) provided by financing activities (112,548,348) 131,085,492
Net (decrease) increase in cash equivalents and restricted cash (4,624,795) 7,792,506
Cash, cash equivalents and restricted cash - beginning of period 16,516,725 14,702,089
Cash, cash equivalents and restricted cash - end of period 11,891,930 22,494,595
Non-cash financing activities:    
Deferred offering cost SPAC, underwriting commission payable 4,628,750 4,628,750
Accrued excise tax on January 24, 2023 SPAC redemptions 1,140,683 0
Dividends payable - Preferred Stock Series D 178,435 179,685
Mortgage Notes [Member]    
Supplemental disclosure of cash flow information:    
Interest paid 1,119,189 951,727
Series D Preferred Stock [Member]    
Cash flows from financing activities:    
Repurchase of Series D Preferred Stock, at cost $ (6,947) $ 0