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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 1,570,611 $ 687,407
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 815,379 809,383
Unrealized (gain) loss on marketable equity securities (246,703) 830,373
Unrealized loss (gain) on interest rate cap premium 6,237 (42,157)
Amortization of loan procurement costs 69,515 70,089
Stock-based compensation 81,708 91,933
Gain on PPP loan forgiveness   (307,210)
Changes in operating assets and liabilities:    
Accounts receivable (7,308) (23,387)
Prepaid expenses and other assets (140,934) 226,487
Accounts payable and accrued expenses 161,750 65,294
Net cash provided by operating activities 2,310,255 2,408,212
Cash flows from investing activities    
Improvements and equipment additions (154,135) (14,916)
Net cash used in investing activities (154,135) (14,916)
Cash flows from financing activities    
Principal payments on note payable (275,472) (264,183)
Dividends paid (1,610,067) (1,406,874)
Issuance of common stock, net of expenses   1,184,323
Proceeds received on PPP loan forgiveness   307,210
Net cash used in financing activities (1,885,539) (179,524)
Net increase in cash, cash equivalents, and restricted cash 270,581 2,213,772
Cash, cash equivalents, and restricted cash, beginning of period 6,515,007 3,063,699
Cash, cash equivalents, and restricted cash, end of period 6,785,588 5,277,471
Supplemental cash flow and noncash information    
Cash paid for interest 370,723 381,089
Supplemental disclosure of noncash activities:    
Dividends payable 3,094 1,952
Operating lease right-of-use assets and lease liabilities    
Operating lease right-of-use assets (9,150) (4,704)
Operating lease liabilities $ 9,150 $ 4,704