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Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Land $ 5,536,596 $ 5,604,097
Greenhouse cultivation and processing facilities, net of accumulated depreciation 12,297,866 12,901,450
Net investment in direct financing lease - railroad 9,150,000 9,150,000
Total real estate assets 26,984,462 27,655,547
Cash and cash equivalents 2,977,229 2,202,632
Restricted cash 1,444,559 1,902,252
Prepaid expenses and deposits 464,216 223,250
Intangible lease asset, net of accumulated amortization 2,447,549 2,504,421
Deferred rent receivable 540,565 438,994
Mortgage loan receivables 2,020,000 850,000
Assets held for sale 31,935,182 34,363,172
Other assets 64,566 69,972
TOTAL ASSETS 68,878,328 70,210,240
LIABILITIES AND EQUITY    
Accounts payable 79,955 58,773
Accrued expenses 1,434,768 770,472
Tenant security deposits 96,724 96,724
Prepaid rent 247,948 3,000
Other liabilities 217,075 57,675
Liabilities held for sale 2,231,531 2,727,051
Current portion of long-term debt, net of unamortized discount 15,044,484 15,043,632
Long-term debt, net of unamortized discount 20,616,322 20,682,869
TOTAL LIABILITIES 39,968,807 39,440,196
Series A 7.75% Cumulative Redeemable Perpetual Preferred Stock Par Value $25.00 (1,675,000 shares authorized; 336,944 issued and outstanding as of March 31, 2024 and December 31, 2023) 9,469,195 9,305,988
Equity:    
Common Shares, $0.001 par value (98,325,000 shares authorized; 3,389,661 shares issued and outstanding as of March 31, 2024 and December 31, 2023) 3,389 3,389
Additional paid-in capital 47,471,100 47,254,625
Accumulated deficit (28,034,163) (25,793,958)
Total Equity 19,440,326 21,464,056
TOTAL LIABILITIES AND EQUITY $ 68,878,328 $ 70,210,240