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Equity (Tables) | 6 Months Ended
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Jun. 30, 2022
Equity [Abstract] |
Schedule of Warrants Issued and Outstanding with Exercise Price | The Company has 1,541,470 warrants outstanding and exercisable as of June 30, 2022, subject to certain circumstances, and which will expire five to seven years from the date of issuance, as follows.
| As of June 30, |
Issue Date | 2022 |
April 25, 2019 at an exercise price of $20.00 |  | 50,000 |
November 13, 2020 at an exercise price of $20.00 |  | 50,000 |
September 8, 2021 at an exercise price of $10.00 |  | 1,126,620 |
September 8, 2021 at an exercise price of $12.50 |  | 135,000 |
September 30, 2021 at an exercise price of $10.00 |  | 165,000 |
September 30, 2021 at an exercise price of $12.50 |  | 14,850 |
|  | 1,541,470 |
The following is a summary of warrants outstanding as of June 30, 2022 and December 31, 2021:
| Warrants |  |  | Weighted Average Price |  |  | Weighted Average Remaining Life |
As of December 31, 2021 |  | 1,914,850 |  |  | $ | 10.72 |  |  |  | 4.7 |
Issuances |  | - |  |  |  | - |  |  |  | - |
Exercised |  | (373,380 | ) |  |  | 10.00 |  |  |  | - |
As of June 30, 2022 |  | 1,541,470 |  |  | $ | 10.89 |  |  |  | 4.2 |
Warrants exercisable | $ | 1,541,470 |  |  | $ | 10.89 |  |  |  | 4.2 |
Schedule of Restricted Common Shares Issued | The following is a summary of restricted shares for the six months ended June 30, 2022 and 2021:
| 2022 |  |  | 2021 |
Number of Shares Outstanding |  | 23,167 |  |  |  | 14,582 |
Restricted Shares Issued |  | 47,499 |  |  |  | 14,000 |
Restricted Shares Vested |  | (10,500 | ) |  |  | (3,749 | )
Number of Shares Outstanding |  | 60,166 |  |  |  | 24,833 |
Schedule of Cash Distributions | The following is a summary of distributions to common shareholders and Operating Partnership unit holders for the six months ended June 30, 2022 and 2021:
Authorized Date | Record Date |  | Per Share/Unit |
June 27, 2022 | September 15, 2022 |  | $ | 0.054 |
June 27, 2022 | August 15, 2022 |  | $ | 0.054 |
June 27, 2022 | July 15, 2022 |  | $ | 0.054 |
March 15, 2022 | June 15, 2022 |  | $ | 0.054 |
March 15, 2022 | May 15, 2022 |  | $ | 0.054 |
March 15, 2022 | April 15, 2022 |  | $ | 0.054 |
December 10, 2021 | March 15, 2022 |  | $ | 0.054 |
December 10, 2021 | February 15, 2022 |  | $ | 0.054 |
December 10, 2021 | January 15, 2022 |  | $ | 0.054 |
February 26, 2021 | March 15, 2021 |  | $ | 0.325 |
* Through June 2022, the Company's CEO waived his right to receive distributions with respect to the shares held by him as of the completion of the Public Offering.

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of all or some of the information related to dividends declared, but not paid, as of the financial reporting date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126999549&loc=d3e4304-108586 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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