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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 266,150 $ 992,541
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 406,925 406,841
Unrealized loss (gain) on marketable equity securities 174,878 (362,050)
Unrealized loss on interest rate cap premium 20,681 24,244
Amortization of loan procurement costs 34,498 34,794
Stock-based compensation 71,004 37,787
Changes in operating assets and liabilities:    
Accounts receivable 16,744 6,720
Prepaid expenses and other assets (1,179) (55,679)
Accounts payable and accrued expenses (192,688) (81,453)
Net cash provided by operating activities 797,013 1,003,745
Cash flows from investing activities    
Improvements and equipment additions (10,071) (109,609)
Net cash used in investing activities (10,071) (109,609)
Cash flows from financing activities    
Principal payments on note payable (142,871) (137,015)
Dividends paid (806,377) (803,855)
Net cash used in financing activities (949,248) (940,870)
Net decrease in cash, cash equivalents, and restricted cash (162,306) (46,734)
Cash, cash equivalents, and restricted cash, beginning of period 7,028,546 6,515,007
Cash, cash equivalents, and restricted cash, end of period 6,866,240 6,468,273
Supplemental cash flow and noncash information    
Cash paid for interest 180,226 186,082
Supplemental disclosure of noncash activities:    
Dividends payable $ 2,191 $ 1,373