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Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Land $ 7,378,644 $ 6,928,644
Greenhouse cultivation facilities, net of accumulated depreciation 2,304,183 1,619,687
Construction in progress - greenhouse cultivation facilities 1,541,850
Net investment in direct financing lease - railroad 9,150,000 9,150,000
Total real estate assets 20,374,677 17,698,331
Cash and cash equivalents 13,611,811 15,842,504
Prepaid expenses 37,363 14,626
Intangible assets, net of accumulated amortization 3,530,168 3,589,453
Deferred rent receivable 739,783 546,186
Other assets 16,975 16,701
TOTAL ASSETS 38,310,777 37,707,801
LIABILITIES AND EQUITY    
Deferred revenue 146,751 29,342
Security deposit 391,872 114,378
Accounts payable 58,087 54,993
Accrued interest 82,053 84,313
Current portion of long-term debt, net of unamortized discount 579,626 564,682
Long-term debt, net of unamortized discount 23,732,298 23,797,191
TOTAL LIABILITIES 24,990,687 24,644,899
Series A 7.75% Cumulative Redeemable Perpetual Preferred Stock Par Value $25.00 (175,000 shares authorized; 144,636 issued and outstanding as of March 31, 2020 and December 31, 2019) 3,492,149 3,492,149
Equity:    
Common Shares, $0.001 par value (100,000,000 shares authorized; 1,912,939 shares issued and outstanding at March 31, 2020 and 1,872,939 at December 31, 2019) 1,913 1,873
Additional paid-in capital 11,896,605 11,821,486
Accumulated deficit (2,070,577) (2,252,606)
Total Equity 9,827,941 9,570,753
TOTAL LIABILITIES AND EQUITY $ 38,310,777 $ 37,707,801