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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net Income $ 1,307,904 $ 684,396
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 177,854 177,855
Amortization of debt costs 25,582 18,892
Stock-based compensation 189,452 158,208
Depreciation 96,029 17,711
Changes in operating assets and liabilities    
Accounts payable, related party (1,374)
Other assets (276) 624
Deferred rent receivable (586,707)
Prepaid expenses (55,138) (37,004)
Accounts payable 15,401 19,683
Security deposit 779,494 114,378
Accrued interest (4,623) (4,211)
Deferred revenue 37,227 36,583
Net cash provided by operating activities 1,982,199 1,185,741
Investing activities    
Cash paid for land and cultivation facilities (2,746,019) (1,791,565)
Cash paid for cultivation facilities construction in progress (6,686,138)
Net cash used in investing activities (9,432,157) (1,791,565)
Financing Activities    
Principal payment on long-term debt (542,980) (381,872)
Cash dividends paid on preferred stock (210,174) (210,174)
Net cash used in financing activities (753,154) (592,046)
Net increase (decrease) in cash and cash equivalents (8,203,112) (1,197,870)
Cash and cash equivalents, beginning of period 15,842,504 1,771,011
Cash and cash equivalents, end of period 7,639,392 573,141
Supplemental disclosure of cash flow information:    
Interest paid $ 846,119 $ 330,590