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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net income $ 2,057,723 $ 3,281,251
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 1,619,239 1,631,609
Unrealized loss (gain) on marketable equity securities 1,117,029 (1,566,731)
Unrealized gain on interest rate cap premium (113,744) (9,404)
Amortization of loan procurement costs 139,895 169,868
Stock-based compensation 173,921 194,372
Gain on PPP loan forgiveness (307,210)  
Changes in operating assets and liabilities:    
Accounts receivable (47,658) (14,120)
Prepaid expenses and other assets 108,861 (182,360)
Accounts payable and accrued expenses 48,999 138,267
Net cash provided by operating activities 4,797,055 3,642,752
Cash flows from investing activities    
Improvements and equipment additions (113,333) (253,142)
Net cash used in investing activities (113,333) (253,142)
Cash flows from financing activities    
Issuance of common stock, net of expenses 2,008,436 6,215,234
Proceeds received on PPP loan forgiveness 307,210  
Line of credit repayment   (5,144,000)
Line of credit issuance costs   (231,926)
Principal payments on note payable (533,952) (512,067)
Dividends paid (3,014,108) (2,608,595)
Net cash used in financing activities (1,232,414) (2,281,354)
Net increase in cash, cash equivalents, and restricted cash 3,451,308 1,108,256
Cash, cash equivalents, and restricted cash, beginning of period 3,063,699 1,955,443
Cash, cash equivalents, and restricted cash, end of period 6,515,007 3,063,699
Supplemental cash flow and noncash information    
Cash paid for interest 758,439 881,759
Supplemental disclosure of noncash activities:    
Dividends payable 4,955 3,056
Establishment of operating lease right-of-use assets and lease liabilities    
Operating lease right-of-use assets (54,199) (11,622)
Operating lease liabilities $ 54,199 $ 11,622