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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net (loss) income $ (23,103,864) $ 13,177,526
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation and amortization 5,515,518 5,425,739
Stock compensation 1,379,080 989,515
Bad debt expense 0 28,880
Gain on sale of real estate assets, net (3,426,572) (3,240,200)
Gain on deconsolidation of SPAC investment 0 (40,321,483)
Employee Bonuses paid with CDT stock 172,421 0
Net change in fair value SPAC Trust Account 0 (1,209,542)
Asset Impairment Charges 1,969,311 3,247,097
Amortization of financing costs 351,291 345,880
Amortization of below-market leases (4,641) (4,974)
Amortization of deferred leasing costs 7,744 7,744
Straight-line rent adjustment (152,722) (332,055)
Changes in operating assets and liabilities:    
Other assets 82,575 (211,023)
Deferred tax asset 48,117 (346,762)
Accounts payable and accrued liabilities (1,511,991) 11,546
Accounts payable and accrued liabilities for the SPAC 0 652,577
Accrued real estate taxes 19,390 73,212
Net cash (used in) provided by operating activities (728,060) 1,448,573
Cash flows from investing activities:    
Real estate acquisitions (9,729,351) (21,909,963)
Additions to buildings and tenant improvements (2,273,726) (6,367,549)
Investment in marketable securities (2,362) (2,161,724)
Proceeds from sale of marketable securities 105,206 2,974,910
Investment of SPAC IPO proceeds into Trust Account 0 (624,998)
Withdrawals from Trust Account for SPAC taxes 0 832,480
Withdrawals from Trust Account for Redemption of SPAC Shares 0 137,157,011
Proceeds from sales of real estate, net 24,767,052 10,698,386
Net cash provided by investing activities 12,866,819 120,598,553
Cash flows from financing activities:    
Proceeds from mortgage notes payable, net of issuance costs 22,272,291 20,804,277
Payment of debt issuance costs (335,724) (246,557)
Repayment of mortgage notes payable (27,897,127) (10,089,026)
Payment of deferred offering costs 0 (5,000)
Distributions to noncontrolling interests (3,629,964) (4,201,639)
Contributions from noncontrolling interests 200,000 2,525,000
Redemption of SPAC shares 0 (137,157,011)
Issuance of Series D Preferred Stock, net of offering costs 1,195,855 0
Repurchase of Series A Common Stock, at cost (140,416) 0
Dividends paid to Series D Preferred Stockholders (2,236,696) (2,118,846)
Dividends paid to Series A Common Stockholders 0 (1,194,635)
Net cash (used in) financing activities (10,612,691) (132,053,423)
Net (decrease) increase in cash equivalents and restricted cash 1,526,068 (10,006,297)
Cash, cash equivalents and restricted cash - beginning of period 6,510,428 16,516,725
Cash, cash equivalents and restricted cash - end of period 8,036,496 6,510,428
Supplemental disclosure of cash flow information:    
Income taxes paid 46,511 533,340
Non-cash investing activities:    
Private warrants from Conduit Pharmaceuticals 642,600 0
Non-cash financing activities:    
Unpaid building and tenant improvements 207,847 295,567
Dividends payable 194,784 174,011
Mortgage Notes [Member]    
Supplemental disclosure of cash flow information:    
Interest paid 5,371,017 4,962,458
Series D Preferred Stock [Member]    
Cash flows from financing activities:    
Repurchase of Series D Preferred Stock, at cost (40,910) (369,986)
Non-cash financing activities:    
Dividends payable 194,784 174,011
Conduit Pharmaceuticals Inc [Member]    
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Net loss in Conduit Pharmaceuticals fair value marketable securities 17,925,723 23,359,774
All Other Than Conduit [Member]    
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Net loss in Conduit Pharmaceuticals fair value marketable securities $ 560 $ (204,878)