XML 21 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
REVENUE    
Lease income from direct financing lease - railroad $ 228,750 $ 228,750
Rental income 503,202 262,527
Misc. income 55,436 3,316
TOTAL REVENUE 787,388 494,593
EXPENSES    
Amortization of intangible assets 59,285 59,285
General and administrative 149,334 115,775
Property tax 4,552 5,556
Depreciation Expense 26,650
Interest expense 295,480 116,732
TOTAL EXPENSES 535,301 297,348
NET INCOME 252,087 197,245
Preferred Stock Dividends (70,058) (70,058)
NET INCOME ATTRIBUTABLE TO COMMON SHARES $ 182,029 $ 127,187
Income Per Common Share:    
Basic $ 0.1 $ 0.07
Diluted $ 0.09 $ 0.07
Weighted Average Number of Shares Outstanding:    
Basic 1,899,313 1,870,139
Diluted 1,921,664 1,870,139
Cash dividend per Series A Preferred Share $ 0.48 $ 0.48