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CONSOLIDATED STATEMENTS OF OPERATIONS and COMPREHENSIVE INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Rental income $ 2,965,178 $ 2,862,561 $ 5,889,582 $ 5,571,345
Total revenues 3,086,018 2,978,915 6,123,971 5,799,728
Expenses        
Property operations 1,089,977 989,251 2,211,315 2,042,985
General and administrative 809,623 653,053 1,489,335 1,331,706
Depreciation and amortization 408,538 404,462 815,379 809,383
Business development   33,310 5,249 42,110
Total expenses 2,308,138 2,080,076 4,521,278 4,226,184
Operating income 777,880 898,839 1,602,693 1,573,544
Other income (expense)        
Dividend and interest income 86,488 23,029 128,054 46,048
Unrealized (loss) gain on marketable equity securities (115,347) (604,622) 246,703 (830,373)
Interest expense (170,951) (220,256) (406,839) (409,022)
Gain on Paycheck Protection Program (PPP) loan forgiveness   307,210   307,210
Total other expense, net (199,810) (494,639) (32,082) (886,137)
Net income and comprehensive income $ 578,070 $ 404,200 $ 1,570,611 $ 687,407
Earnings per share        
Basic $ 0.05 $ 0.04 $ 0.14 $ 0.06
Diluted $ 0.05 $ 0.04 $ 0.14 $ 0.06
Weighted average shares outstanding        
Basic 11,041,503 10,767,619 11,037,868 10,714,565
Diluted 11,083,258 10,824,760 11,081,799 10,773,643
Other property related income        
Revenues        
Revenues $ 98,375 $ 95,541 $ 190,112 $ 188,072
Management fees and other income        
Revenues        
Revenues $ 22,465 $ 20,813 $ 44,277 $ 40,311