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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net Income $ 731,840 $ 410,703
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 118,569 118,570
Amortization of debt costs 17,055 12,595
Stock-based compensation 123,291 111,081
Depreciation 56,262
Changes in operating assets and liabilities    
Accounts payable, related party (1,374)
Other assets (275) (275)
Deferred rent receivable (451,193) (71,155)
Prepaid expenses (64,579) (34,954)
Accounts payable 18,245 16,901
Security deposit 577,494
Accrued interest (3,418) (3,454)
Deferred revenue 77,318 76,889
Net cash provided by operating activities 1,200,609 635,527
Investing activities    
Cash paid for land and greenhouse cultivation facilities (1,601,655)
Cash paid for construction in progress (4,842,686)
Net cash used in investing activities (6,444,341)
Financing Activities    
Principal payment on long-term debt (239,444) (132,629)
Cash dividends paid on preferred stock (140,116) (140,116)
Net cash used in financing activities (379,560) (272,745)
Net increase (decrease) in cash and cash equivalents (5,623,292) 362,782
Cash and cash equivalents, beginning of period 15,842,504 1,771,011
Cash and cash equivalents, end of period 10,219,212 2,133,793
Supplemental disclosure of cash flow information:    
Interest paid $ 568,987 $ 222,629