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Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Dec. 31, 2018
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 2,133,793 1,771,011
Prepaid expenses 51,749 16,795
Intangible assets, net of accumulated amortization 3,708,025 3,826,595
Other assets 414,098 342,668
TOTAL ASSETS 22,245,732 21,895,136
LIABILITIES AND EQUITY    
Deferred revenue 109,740 32,851
Accounts payable 41,729 24,828
Accounts payable - Related party 1,374
Accrued interest 84,392 87,846
Current portion of long-term debt 406,043 389,996
Long-term debt 9,031,255 9,167,336
TOTAL LIABILITIES 9,673,159 9,704,231
Series A 7.75% Cumulative Redeemable Perpetual Preferred Stock Par Value $25.00 (175,000 shares authorized; 144,636 issued and outstanding as of June 30, 2019 and December 31, 2018) 3,492,149 3,492,149
Commitments and Contingencies
Equity:    
Common Shares, $0.001 par value (100,000,000 shares authorized; 1,872,939 shares issued and outstanding at June 30, 2019 and 1,870,139 at December 31, 2018) 1,873 1,870
Additional paid-in capital 11,727,232 11,616,154
Accumulated deficit (2,648,681) (2,919,268)
Total Equity 9,080,424 8,698,756
TOTAL LIABILITIES AND EQUITY $ 22,245,732 $ 21,895,136