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CONSOLIDATED STATEMENTS OF OPERATIONS and COMPREHENSIVE INCOME - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Rental income $ 2,968,263 $ 2,970,875 $ 8,857,845 $ 8,542,221
Total revenues 3,090,374 3,086,412 9,214,345 8,886,141
Expenses        
Property operations 1,163,064 1,010,495 3,374,379 3,053,481
General and administrative 683,629 560,675 2,172,965 1,892,382
Depreciation and amortization 409,245 404,961 1,224,624 1,214,344
Business development 5,903 4,598 11,152 46,708
Total expenses 2,261,841 1,980,729 6,783,120 6,206,915
Operating income 828,533 1,105,683 2,431,225 2,679,226
Other income (expense)        
Dividend and interest income 66,906 46,846 194,960 92,894
Unrealized loss on marketable equity securities (411,969) (59,512) (165,266) (889,885)
Interest expense (212,712) (163,153) (619,550) (572,174)
Gain on Paycheck Protection Program (PPP) loan forgiveness       307,210
Total other expense, net (557,775) (175,819) (589,856) (1,061,955)
Net income and comprehensive income $ 270,758 $ 929,864 $ 1,841,369 $ 1,617,271
Earnings per share        
Basic $ 0.02 $ 0.08 $ 0.17 $ 0.15
Diluted $ 0.02 $ 0.08 $ 0.16 $ 0.15
Weighted average shares outstanding        
Basic 11,048,877 10,924,646 11,041,578 10,785,362
Diluted 11,090,674 10,978,000 11,084,684 10,842,515
Other property related income        
Revenues        
Revenues $ 103,676 $ 93,630 $ 293,788 $ 281,702
Management fees and other income        
Revenues        
Revenues $ 18,435 $ 21,907 $ 62,712 $ 62,218