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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUE        
Lease income from capital lease - railroad, net $ 228,750 $ 228,750 $ 457,500 $ 457,500
Rental income 262,528 262,528 525,055 525,055
Misc. income 4,333 2,364 7,649 3,690
TOTAL REVENUE 495,611 493,642 990,204 986,245
EXPENSES        
Amortization of intangible assets 59,285 59,285 118,570 118,570
General and administrative 102,273 105,039 218,048 197,828
Property tax 5,557 2,782 11,113 8,269
Interest expense 115,038 119,044 231,770 239,439
TOTAL EXPENSES 282,153 286,150 579,501 564,106
NET INCOME 213,458 207,492 410,703 422,139
Preferred Stock Dividends (70,058) (70,058) (140,116) (140,116)
NET INCOME ATTRIBUTABLE TO COMMON SHARES $ 143,400 $ 137,434 $ 270,587 $ 282,023
Income Per Common Share:        
Basic and diluted $ 0.08 $ 0.08 $ 0.14 $ 0.15
Weighted Average Number of Shares Outstanding:        
Basic and diluted 1,870,192 1,827,338 1,870,165 1,827,338
Cash dividend per Series A Preferred Share $ 0.48 $ 0.48 $ 0.97 $ 0.97