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Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Land $ 7,778,644 $ 6,928,644
Greenhouse cultivation facilities, net of accumulated depreciation 2,315,080 1,619,687
Construction in progress - greenhouse cultivation facilities 4,842,686
Net investment in direct financing lease - railroad 9,150,000 9,150,000
Total real estate assets 24,086,410 17,698,331
Cash and cash equivalents 10,219,212 15,842,504
Prepaid expenses 79,205 14,626
Intangible assets, net of accumulated amortization 3,470,884 3,589,453
Deferred rent receivable 997,380 546,187
Other assets 16,975 16,700
TOTAL ASSETS 38,870,066 37,707,801
LIABILITIES AND EQUITY    
Deferred revenue 106,660 29,342
Tenant security deposit 691,872 114,378
Accounts payable 73,238 54,993
Accrued interest 80,895 84,313
Current portion of long-term debt, net of unamortized discount 594,389 564,682
Long-term debt, net of unamortized discount 23,545,095 23,797,191
TOTAL LIABILITIES 25,092,149 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 June 30, 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 June 30, 2020 and 1,872,939 at December 31, 2019) 1,913 1,873
Additional paid-in capital 11,944,737 11,821,486
Accumulated deficit (1,660,882) (2,252,606)
Total Equity 10,285,768 9,570,753
TOTAL LIABILITIES AND EQUITY $ 38,870,066 $ 37,707,801