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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net loss $ (2,076,998) $ (339,046)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible lease asset 56,872 56,872
Amortization of debt costs 7,877 21,475
Loan modification expense 160,000
Stock-based compensation 216,475 227,009
Impairment expense 549,557
Depreciation 488,197 604,708
Gain on sale of properties (394,394) (1,040,452)
Changes in operating assets and liabilities    
Accounts receivable 61,946
Deferred rent receivable (101,571) (173,968)
Prepaid expenses and deposits (304,813) (39,980)
Other assets (22,076)
Other liabilities 159,400
Accounts payable 16,246 (376,572)
Accrued expenses 766,041 20,405
Prepaid rent 214,948 (37,161)
Net cash used in operating activities (402,163) (876,840)
Investing activities    
Cash received for sale of properties 715,642 2,409,178
Cash received for mortgage loan receivables 80,000
Net cashed provided by investing activities 795,642 2,409,178
Financing Activities    
Principal payment on long-term debt (76,575) (73,545)
Net cash used in financing activities (76,575) (73,545)
Net increase in cash and cash equivalents and restricted cash 316,904 1,458,793
Cash and cash equivalents and restricted cash, beginning of period 4,104,884 3,847,871
Cash and cash equivalents and restricted cash, end of period 4,421,788 5,306,664
Supplemental disclosure of cash flow information:    
Interest paid 350,594 487,906
Reclass of deferred debt issuance costs to liability upon reduction of total loan commitment 46,023
Dividends accrued on preferred stock 163,207 163,207
Mortgage loan receivables entered into in connection with sale of properties $ 1,250,000