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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
ASSETS    
Land $ 6,788,067 $ 6,788,067
Net investment in capital lease - railroad 9,150,000 9,150,000
Total real estate assets 15,938,067 15,938,067
Cash and cash equivalents 1,771,011 1,146,730
Prepaid expenses 16,795 13,903
Intangible assets, net of accumulated amortization 3,826,595 4,063,737
Other assets 342,668 297,442
TOTAL ASSETS 21,895,136 21,459,879
LIABILITIES AND EQUITY    
Deferred revenue 32,851 42,775
Accounts payable 24,828 21,206
Accounts payable - Related party 1,374 1,176
Accrued interest 87,846 91,529
Current portion of long-term debt 389,996 366,520
Long-term debt 9,167,336 9,527,068
TOTAL LIABILITIES 9,704,231 10,050,274
Series A 7.75% Cumulative Redeemable Perpetual Preferred Stock Par Value $25.00 (175,000 shares authorized; 144,636 issued and outstanding as of December 31, 2018 and December 31, 2017) 3,492,149 3,492,149
Commitments and Contingencies
Equity:    
Common Shares, $0.001 par value (100,000,000 shares authorized; 1,870,139 shares issued and outstanding at December 31, 2018 and 1,827,339 at December 31, 2017) 1,870 1,827
Additional paid-in capital 11,616,154 11,393,476
Accumulated deficit (2,919,268) (3,477,847)
Total Equity 8,698,756 7,917,456
TOTAL LIABILITIES AND EQUITY $ 21,895,136 $ 21,459,879