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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 283,207 $ 411,247
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 404,921 405,615
Unrealized loss (gain) on marketable equity securities 225,751 (214,736)
Unrealized (gain) loss on interest rate cap premium (37,552) 3
Amortization of loan procurement costs 35,079 49,784
Stock-based compensation 52,604 31,706
Changes in operating assets and liabilities:    
Accounts receivable 1,060 28,002
Prepaid expenses and other assets 42,510 (90,135)
Accounts payable and accrued expenses 99,474 54,332
Net cash provided by operating activities 1,107,054 675,818
Cash flows from investing activities    
Improvements and equipment additions (29,490) (42,035)
Net cash used in investing activities (29,490) (42,035)
Cash flows from financing activities    
Issuance of common stock, net of expenses 198,370  
Principal payments on note payable (131,401) (126,015)
Dividends paid (699,363) (607,177)
Net cash used in financing activities (632,394) (733,192)
Net increase (decrease) in cash, cash equivalents, and restricted cash 445,170 (99,409)
Cash, cash equivalents, and restricted cash, beginning of period 3,063,699 1,955,443
Cash, cash equivalents, and restricted cash, end of period 3,508,869 1,856,034
Supplemental cash flow and noncash information    
Cash paid for interest 191,697 237,477
Supplemental disclosure of noncash activities:    
Dividends payable $ 976 $ 126