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Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
ASSETS    
Land $ 8,108,040 $ 6,928,644
Greenhouse cultivation facilities, net of accumulated depreciation 3,090,281 1,619,687
Construction in progress - greenhouse cultivation facilities 6,686,138
Net investment in direct financing lease - railroad 9,150,000 9,150,000
Total real estate assets 27,034,459 17,698,331
Cash and cash equivalents 7,639,392 15,842,504
Prepaid expenses 69,764 14,626
Intangible assets, net of accumulated amortization 3,411,599 3,589,453
Deferred rent receivable 1,132,894 546,187
Other assets 16,976 16,700
TOTAL ASSETS 39,305,084 37,707,801
LIABILITIES AND EQUITY    
Deferred revenue 66,569 29,342
Tenant security deposit 893,872 114,378
Accounts payable 70,394 54,993
Accrued interest 79,690 84,313
Current portion of long-term debt, net of unamortized discount 596,089 564,682
Long-term debt, net of unamortized discount 23,248,386 23,797,191
TOTAL LIABILITIES 24,955,000 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 September 30, 2020 and December 31, 2019) 3,492,149 3,492,149
Equity:    
Common Shares, $0.001 par value (100,000,000 shares authorized; 1,916,139 shares issued and outstanding at September 30, 2020 and 1,872,939 at December 31, 2019) 1,916 1,873
Additional paid-in capital 12,010,895 11,821,486
Accumulated deficit (1,154,876) (2,252,606)
Total Equity 10,857,935 9,570,753
TOTAL LIABILITIES AND EQUITY $ 39,305,084 $ 37,707,801