10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 

FORM 10-Q/A

(Amendment No. 1)

(Mark One)

x Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended March 31, 2016

or

o Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from ____________________ to ____________________

Commission File Number: 001-12681

GLOBAL SELF STORAGE, INC.

(Exact name of registrant as specified in its charter) 

Maryland	13-3926714
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)

Global Self Storage, Inc.

11 Hanover Square, 12th Floor

New York, NY 10005

(212) 785-0900

(Address, including zip code, and telephone number, including area code, of Company’s principal executive offices)

John F. Ramírez, Esq.

Global Self Storage, Inc.

11 Hanover Square, 12th Floor

New York, NY 10005

(Name, address, including zip code, and telephone number, including area code, of agent for service)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x  Yes o  No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). o  Yes x  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	o	Accelerated filer	o
Non-accelerated filer	o  (Do not check if a smaller reporting company)	Smaller reporting company	x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). o  Yes x  No

The number of shares outstanding of the registrant’s common stock, par value $0.01 per share, as of April 30, 2016, was 7,416,766.

Explanatory Note

The sole purpose of this Amendment No. 1 (the “Amendment”) to Global Self Storage, Inc.’s Quarterly Report on Form 10-Q for the period ended March 31, 2016 (the “Form 10-Q”), as filed with the Securities and Exchange Commission on May 16, 2016, is to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405(a)(2) of Regulation S-T.

No changes have been made to the Form 10-Q other than the furnishing of Exhibit 101 described above. This Amendment does not reflect events that may have occurred after the date of the original filing or modify or update disclosures made in the Form 10-Q.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed to be furnished and not filed for purposes of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability under this section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, except as expressly set forth by specific reference to those documents.  

2

Item 6. Exhibits. 

Exhibit Item Number and Description	Incorporated by Reference to	Filed Herewith
3.1.1. Articles of incorporation	Company's registration statement filing on Form N-2, File Nos. 333-46765 and 811-08025, as filed with the SEC on January 23, 1997.
3.1.2. Articles of amendment	Company's registration statement filing on Form N-2, File No. 811-08025, as filed with the SEC on December 10, 2003.
3.1.3. Articles supplementary	Company's registration statement filing on Form N-2, File No. 811-08025, as filed with the SEC on December 10, 2003.
3.1.4. Articles of amendment	Company’s filing on Form 10, File No. 001-12681, as filed with the SEC on June 30, 2015.
3.1.5. Articles supplementary	Company's filing on Form 8-K, File No. 001-12681, as filed with the SEC on January 22, 2016.
3.1.6. Articles of amendment	Company's filing on Form 8-K, File No. 001-12681, as filed with the SEC on January 22, 2016.
3.2. Amended and Restated Bylaws	Company's filing on Form 8-K, File No. 001-12681, as filed with the SEC on January 22, 2016.
4. Rights Agreement	Company's filing on Form 8-K, File No. 001-12681, as filed with the SEC on February 2, 2016.
31.1. Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.	Company's filing on Form 10-Q, File No. 001-12681, as filed with the SEC on May 16, 2016.
31.2. Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.	Company's filing on Form 10-Q, File No. 001-12681, as filed with the SEC on May 16, 2016.
32.1 Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	Company's filing on Form 10-Q, File No. 001-12681, as filed with the SEC on May 16, 2016.
32.2 Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	Company's filing on Form 10-Q, File No. 001-12681, as filed with the SEC on May 16, 2016.
101.INS  XBRL Instance Document		X
101.SCH XBRL Taxonomy Extension Schema Document		X
101.CAL  XBRL Taxonomy Extension Calculation Linkbase Document		X
101.DEF  XBRL Taxonomy Extension Definition Linkbase Document		X
101.LAB  XBRL Taxonomy Extension Label Linkbase Document		X
101.PRE  XBRL Taxonomy Extension Presentation Linkbase Document		X

3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	GLOBAL SELF STORAGE, INC.
Date: June 14, 2016	/s/ Mark C. Winmill
	By:	Mark C. Winmill, President
	(Signing on behalf of the registrant as Principal Executive Officer)
Date: June 14, 2016	/s/ Thomas O’Malley
	By:	Thomas O’Malley, Chief Financial Officer
	(Signing on behalf of the registrant as Principal Financial Officer and Principal Accounting Officer)

4

XML

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Trading Symbol	SELF
Entity Registrant Name	Global Self Storage, Inc.
Entity Central Index Key	0001031235
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,416,766

XML

CONSOLIDATED BALANCE SHEET	Mar. 31, 2016 USD ($)
Assets
Self storage facilities, net	$ 34,444,693
Cash and cash equivalents	3,338,816
Investments in securities	4,550,811
Accounts receivable	78,959
Prepaid expenses and other assets	193,875
Total assets	42,607,154
Liabilities and equity
Accounts payable and accrued expenses	565,794
Total liabilities	$ 565,794
Commitments and contingencies
Equity
Common stock, $0.01 par value, 19,900,000 shares authorized; 7,416,766 issued and outstanding	$ 74,168
Series A participating preferred stock, $0.01 par value, 100,000 shares authorized: zero shares issued and outstanding
Additional paid in capital	$ 32,908,888
Accumulated comprehensive income	2,102,956
Retained earnings	6,955,348
Total equity	42,041,360
Total liabilities and equity	$ 42,607,154

XML

CONSOLIDATED BALANCE SHEET (Parenthetical)	Mar. 31, 2016 $ / shares shares
Common stock, par value | $ / shares	$ 0.01
Common stock, shares authorized	19,900,000
Common stock, shares issued	7,416,766
Common stock, shares outstanding	7,416,766
Series A Preferred Stock
Preferred stock, par value | $ / shares	$ 0.01
Preferred stock, shares authorized	100,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0

XML

STATEMENT OF ASSETS AND LIABILITIES	Dec. 31, 2015 USD ($) $ / shares
Investments, at value
Wholly owned subsidiaries (cost $27,749,573 )	$ 42,433,710
Liabilities
Net Assets	42,286,522
Predecessor Basis
Investments, at value
Wholly owned subsidiaries (cost $27,749,573 )	34,624,573
Unaffiliated issuers (cost $5,974,192)	7,809,137
Investments	42,433,710
Cash	29,763
Dividends receivable	14,403
Other assets	12,320
Total assets	42,490,196
Liabilities
Accounts payable and accrued expenses	139,025
Due to affiliates	64,649
Total liabilities	203,674
Net Assets	$ 42,286,522
Net Asset Value Per Share (applicable to 7,416,766 shares outstanding: 20,000,000 shares of $.01 par value authorized ) | $ / shares	$ 5.70
Net Assets Consist of
Paid in capital	$ 32,983,056
Undistributed net investment income	593,521
Net unrealized appreciation on investments	8,709,945
Total equity	$ 42,286,522

XML

STATEMENT OF ASSETS AND LIABILITIES (Parenthetical)	Dec. 31, 2015 USD ($) $ / shares shares
Investment, cost	$ 33,723,765
Wholly Owned Subsidiaries
Investment, cost	$ 27,749,573
Predecessor Basis
Common stock, shares outstanding | shares	7,416,766
Common stock, shares authorized | shares	20,000,000
Common stock, par value | $ / shares	$ 0.01
Predecessor Basis | Wholly Owned Subsidiaries
Investment, cost	$ 27,749,573
Predecessor Basis | Unaffiliated issuers
Investment, cost	$ 5,974,192

XML

STATEMENT OF OPERATIONS - USD ($)	1 Months Ended	3 Months Ended
	Jan. 18, 2016	Mar. 31, 2015
Predecessor Basis
Investment Income
Unaffiliated issuers	$ 5,165	$ 39,002
Total investment income	5,165	39,002
Expenses
Compensation and benefits	39,109	194,660
Auditing	6,570	10,350
Occupancy and other office expenses	4,091	154,335
Directors	2,070	14,250
Bookkeeping and pricing	1,440	17,250
Custodian	720	4,050
Insurance	720	2,700
Transfer agent	630	2,700
Stockholder communications	360	5,520
Registration	77	62,560
Total expenses	55,787	486,825
Legal		18,000
Other		450
Net investment loss	(50,622)	(447,823)
Realized and Unrealized Gain (Loss)
Unaffiliated issuers	(22,605)
Net unrealized loss	(22,605)
Net realized gain on investments in unaffiliated issuers		900,368
Net unrealized appreciation (depreciation), Wholly owned subsidiaries		1,145,000
Net unrealized appreciation (depreciation), Unaffiliated issuers		(278,832)
Net realized and unrealized gain		1,766,536
Net decrease in net assets resulting from operations	$ (73,227)	$ 1,318,713

XML

CONSOLIDATED STATEMENT OF OPERATIONS	2 Months Ended
	Mar. 31, 2016 USD ($) $ / shares shares
Revenues
Rental income	$ 893,936
Other property related income	31,292
Total revenues	925,228
Expenses
Property operations	434,797
General and administrative	311,481
Depreciation and amortization	169,967
Total expenses	916,245
Operating income	8,983
Other income
Dividend and interest income	40,138
Net decrease in net assets resulting from operations	$ 49,121
Earnings per share - basic and diluted | $ / shares	$ 0.01
Weighted average shares outstanding - basic and diluted | shares	7,416,766

XML

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	2 Months Ended
	Mar. 31, 2016 USD ($)
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 49,121
Other comprehensive income
Unrealized gain on investment securities available-for-sale	290,616
Comprehensive income	$ 339,737

XML

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common stock, par value	Paid in capital	Accumulated other comprehensive income	Retained earnings
Beginning Balance (Predecessor Basis) at Dec. 31, 2015	$ 42,286,522
Net income | Predecessor Basis	(73,227)
Ending Balance (Predecessor Basis) at Jan. 18, 2016		$ 74,168	$ 32,908,888	$ 1,812,340	$ 9,230,239
Ending Balance at Jan. 18, 2016	42,213,295
Unrealized gain on available for sale securities	290,616			290,616
Reclassification of unrealized gain on available for sale securities | Predecessor Basis					(1,812,340)
Transitional adjustment for net unrealized gain of wholly owned subsidiaries | Predecessor Basis					(6,875,000)
Fair value adjustment of wholly owned subsidiaries on the effective date of the change in status	7,967,086				7,967,086
Combined accumulated deficit of wholly owned subsidiaries prior to the change in status					(1,121,668)
Net income	49,121				49,121
Dividends					(482,090)
Ending Balance at Mar. 31, 2016	$ 42,041,360	$ 74,168	$ 32,908,888	$ 2,102,956	$ 6,955,348

XML

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Mar. 31, 2016	Jan. 18, 2016	Dec. 31, 2015
Common stock, shares outstanding	7,416,766
Common stock, par value	$ 0.01
Predecessor Basis
Common stock, shares outstanding		7,416,766	7,416,766
Common stock, par value		$ 0.01	$ 0.01

XML

STATEMENT OF CASH FLOWS - USD ($)	1 Months Ended	3 Months Ended
	Jan. 18, 2016	Mar. 31, 2015
Predecessor Basis
Cash Flows From Operating Activities
Net income	$ (73,227)	$ 1,318,713
Adjustments to reconcile decrease in net assets resulting from operations to net cash provided by (used in) operating activities:
Unrealized depreciation (appreciation) of investments	22,605	(866,169)
Net sales of short term investments	96,448	283,891
Decrease in dividends receivable	9,232	(4)
Decrease in other assets	715	1,991
Decrease in accrued expenses	(69,986)	169,423
Increase in due to affiliates	14,213	20,559
Net realized gain on sales of investment securities		(900,368)
Capital invested in wholly-owned subsidiaries		(450,000)
Proceeds from sales of investment securities		900,368
Decrease in due from subsidiaries		3,372
Net cash provided by operating activities		481,776
Cash
Beginning of period, December 31, 2015	29,763	29,754
End of period, January 18, 2016	$ 29,763	29,440
Cash flows from financing activities
Dividends paid		(482,090)
Net cash used in financing activities		(482,090)
Net decrease in cash and cash equivalents		$ (314)

XML

CONSOLIDATED STATEMENT OF CASH FLOWS	2 Months Ended
	Mar. 31, 2016 USD ($)
Cash Flows From Operating Activities
Net income	$ 49,121
Adjustments to reconcile decrease in net assets resulting from operations to net cash provided by (used in) operating activities:
Depreciation and amortization	201,369
Cash from wholly owned subsidiaries consolidated upon change of status	298,003
Combined results of operations of wholly owned subsidiaries prior to the change in status	15,816
Changes in operating assets and liabilities:
Accounts receivable	12,389
Prepaid expenses and other assets	(32,194)
Accounts payable and accrued expenses	(41,282)
Net cash provided by operating activities	503,222
Cash flows from investing activities
Proceeds from sale of investments	3,526,337
Construction in progress	(229,793)
Purchase of property and equipment	(8,623)
Net cash used in investing activities	3,287,921
Cash flows from financing activities
Dividends paid	(482,090)
Net cash used in financing activities	(482,090)
Net decrease in cash and cash equivalents	3,309,053
Cash and cash equivalents, January 18, 2016	29,763
Cash and cash equivalents, March 31, 2016	$ 3,338,816

XML

SCHEDULE OF PORTFOLIO INVESTMENTS

3 Months Ended

Mar. 31, 2016

Investments Schedule [Abstract]

SCHEDULE OF PORTFOLIO INVESTMENTS

GLOBAL SELF STORAGE, INC.

SCHEDULE OF PORTFOLIO INVESTMENTS

December 31, 2015

(Unaudited)

Member
Equity Interest				Value
			WHOLLY OWNED SUBSIDIARIES (81.88%)
			Real Estate Owned (81.82%)
			Self Storage Properties (81.82%)
	100	%	SSG Bolingbrook LLC (a) (b)	$	6,100,000
	100	%	SSG Dolton LLC (a) (b)		5,900,000
	100	%	SSG Merrillville LLC (a) (b)		5,700,000
	100	%	SSG Rochester LLC (a) (b)		5,950,000
	100	%	SSG Sadsbury LLC (a) (b)		5,700,000
	100	%	SSG Summerville I LLC (a) (b)		3,400,000
	100	%	SSG Summerville II LLC (a) (b)		1,850,000
			Total real estate owned (Cost $27,725,000)		34,600,000
			Other (0.06%)
	100	%	SSG Operations LLC (a) (b) (Cost $24,573)		24,573
			Total wholly owned subsidiaries (Cost $27,749,573)		34,624,573
Shares			COMMON STOCKS (7.34%)
			Real Estate Investment Trusts (7.34%)
			Diversified (1.58%)
	2,700		Public Storage		668,790
			Industrial (5.76%)
	24,000		CubeSmart		734,880
	12,000		Extra Space Storage, Inc.		1,058,520
	6,000		Sovran Self Storage, Inc.		643,860
					2,437,260
			Total common stocks (Cost $ 1,360,102)		3,106,050
			PREFERRED STOCKS (2.79%)
			Real Estate Investment Trusts (2.79%)
			Industrial (0.93%)
	15,000		CubeSmart 7.75%, Series A		392,250
			Retail (1.86%)
	15,000		Pennsylvania Real Estate Investment Trust, 8.25%, Series A		387,150
	15,000		Realty Income Corp., 6.625%, Series F		397,350
					784,500
			Total preferred stocks (Cost $1,087,753)		1,176,750
			OTHER (0%)
	2		RMR Asia Pacific Fund Fractional shares (b) (Cost $0)		0
			SHORT TERM INVESTMENT (8.34%)
	3,526,337		SSgA Money Market Fund, 7 day annualized yield 0.01% (Cost $3,526,337)		3,526,337
			Total investments (Cost $33,723,765) (100.35%)		42,433,710
			Liabilities in excess of other assets (-0.35%)		(147,188	)
			Net assets (100.00%)	$	42,286,522

^(a) Controlled affiliate.

^(b) Illiquid and/or restricted security that has been fair valued.

LLC Limited Liability Company

See notes to consolidated financial statements.

XML

Organization

3 Months Ended

Mar. 31, 2016

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization

1. ORGANIZATION

Global Self Storage, Inc. (the “Company”) is a self-administered and self-managed REIT, formed as a Maryland corporation and is focused on the ownership, operation, acquisition, development and redevelopment of self storage facilities (“stores”). The Company stores are located in the Northeast, Mid-Atlantic and Mid-West regions of the United States. The Company was formerly registered under the Investment Company Act of 1940, as amended (the “1940 Act”) as a non-diversified, closed end management investment company. The Securities and Exchange Commission’s (“SEC”) order approving the Company’s application to deregister from the 1940 Act was granted on January 19, 2016. Accordingly, effective January 19, 2016, the Company changed its name to Global Self Storage, Inc. from Self Storage Group, Inc., changed its SEC registration to a reporting company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (from an investment company under the 1940 Act), and listed its common stock on the Nasdaq Capital Market (“NASDAQ”) under the symbol “SELF

The Company has elected to be treated as a REIT under the Internal Revenue Code of 1986, as amended (the “IRC”). To the extent the Company continues to qualify as a REIT, it will not be subject to tax, with certain limited exceptions, on the taxable income that is distributed to its stockholders.

The Company invests in self storage facilities by acquiring stores through its wholly owned subsidiaries. At March 31, 2016, the Company owned and operated 7 stores. The Company operates primarily in one segment: rental operations.

XML

Basis of Presentation

3 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Basis of Presentation

2. BASIS OF PRESENTATION

Upon deregistration as an investment company, the Company's status changed to an operating company from an investment company since it no longer met the assessment of an investment company under ASC 946. The Company discontinued applying the guidance in ASC 946 and began to account for the change in status prospectively by accounting for its investments in accordance with other GAAP Topics as of the date of the change in status.

The Company financial statements for the period subsequent to the deregistration are prepared on a consolidated basis to include the financial position, results of operations, and cash flows of the Company and its wholly-owned subsidiaries, rather than by the investment company fair valuation approach. This change in status and the concomitant accounting policies affect the comparability of the financial statements for directly presenting corresponding items for 2016 and 2015. As such, for the three months ended March 31, 2016, the consolidated statements of operations and cash flows have been presented on the Predecessor Basis of accounting as an investment company from January 1, 2016 through January 18, 2016, and on the current basis of accounting as a REIT from January 19, 2016 through March 31, 2016. Similarly, separate statements of operations and cash flows are presented on the Predecessor Basis of accounting as an investment company for the three months ended March 31, 2015. The consolidated balance sheet at March 31, 2016 has been presented on the correct basis of accounting as a REIT and at March 31, 2015 the statement of assets and liabilities has been presented on the Predecessor Basis of accounting as an investment company.

The accompanying unaudited condensed consolidated financial statements of the Company are presented on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. All material intercompany balances and transactions have been eliminated in consolidation. Accordingly, they may not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2016, are not necessarily indicative of results that may be expected for the year ending December 31, 2016. The statement of assets and liabilities as of December 31, 2015 has been derived from the Company’s audited financial statements as of that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. For further information refer to the financial statements and footnotes thereto included in the Company’s Annual Report on Form N-CSR for the year ended December 31, 2015, as filed with the SEC.

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses primarily consist of property tax accruals, unearned rental income, and trade payables.

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid investments, and may include money market fund shares, purchased with an original maturity of three months or less. The carrying amount reported on the balance sheet for cash and cash equivalents approximates fair value.

Income Taxes

The Company has elected to be treated as a REIT under the IRC. In order to maintain its qualification as a REIT, among other things, the Company is required to distribute at least 90% of its REIT taxable income to its stockholders and meet certain tests regarding the nature of its income and assets. As a REIT, the Company is not subject to federal income tax with respect to that portion of its income which meets certain criteria and is distributed annually to stockholders. The Company plans to continue to operate so that it meets the requirements for taxation as a REIT. Many of these requirements, however, are highly technical and complex. If the Company were to fail to meet these requirements, it would be subject to federal income tax. The Company is subject to certain state and local taxes.

The Company recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by tax authorities. The Company has reviewed its tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on federal, state, and local income tax returns for open tax years (2013 – 2015), or is expected to be taken in the Company’s 2016 tax returns.

Investments in Securities

Investments in equity securities that have readily determinable fair values are accounted for as available-for-sale. Available-for-sale securities are measured at fair value. Gains or losses from changes in the fair value of available-for-sale securities are recorded in accumulated other comprehensive income, until the investment is sold or otherwise disposed of, or until the investment is determined to be other-than-temporarily impaired, at which time the cumulative gain or loss previously reported in equity is included in income. The specific identification method is used to determine the realized gain or loss on investments sold or otherwise disposed.

Fair value is determined using a valuation hierarchy generally by reference to an active trading market, using quoted closing or bid prices. Judgment is used to ascertain if a formerly active market has become inactive and in determining fair values when markets have become inactive.

The Company periodically evaluates the carrying value of investment in securities for impairment. The Company considers, among other factors, the duration and extent of any decline in fair value, the intent and ability of the Company to hold the security for a period of time sufficient for a recovery in value, and recent events specific to the issuer or industry. If the decline in value is determined to be other-than-temporary, the carrying value of the security is written down to fair value through the income statement.

Real Estate Assets

Real estate assets are carried at the appreciated value as of January 19, 2016, the effective date of the change in status. Purchases subsequent to the effective date of the change in status are carried at cost, less accumulated depreciation. Direct and allowable internal costs associated with the development, construction, renovation, and improvement of real estate assets are capitalized. Property taxes, and other costs associated with development incurred during the construction period are capitalized. The construction period begins when expenditures for the real estate assets have been made and activities that are necessary to prepare the asset for its intended use are in progress. The construction period ends when the asset is substantially complete and ready for its intended use.

Expenditures for maintenance and repairs are charged to expense as incurred. Major replacements and betterments that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives. Depreciation is computed using the straight-line method over the estimated useful lives of the buildings and improvements, which are generally between 5 and 39 years.

Revenue and Expense Recognition

Revenues from stores, which is primarily composed of rental income earned pursuant to month-to-month leases for storage space, as well as associated late charges and administrative fees, are recognized as earned. Promotional discounts reduce rental income over the promotional period, which is generally one month. Ancillary revenues from sales of merchandise and tenant insurance and other income are recognized when earned.

The Company accrues for property tax expense based upon actual amounts billed and, in some circumstances, estimates and historical trends when bills or assessments have not been received from the taxing authorities or such bills and assessments are in dispute. If these estimates are incorrect, the timing and amount of expense recognition could be incorrect. Cost of operations and general and administrative expense are expensed as incurred.

Credit Risk

Financial assets that are exposed to credit risk consist primarily of cash and cash equivalents and certain portions of accounts receivable including rents receivable from our tenants.  Cash and cash equivalents are on deposit with highly rated commercial banks.

Evaluation of Asset Impairment

The Company evaluates its real estate assets for impairment each quarter.  If there are indicators of impairment and we determine that the asset is not recoverable from future undiscounted cash flows to be received through the asset’s remaining life (or, if earlier, the expected disposal date), we record an impairment charge to the extent the carrying amount exceeds the asset’s estimated fair value or net proceeds from expected disposal.

Use of Estimates

The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from management’s estimates.

Recently Issued Accounting Standards

   In March 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which is intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. The new guidance allows for entities to make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. In addition, the guidance allows employers to withhold shares to satisfy minimum statutory tax withholding requirements up to the employees’ maximum individual tax rate without causing the award to be classified as a liability. The guidance also stipulates that cash paid by an employer to a taxing authority when directly withholding shares for tax-withholding purposes should be classified as a financing activity on the statement of cash flows. The standard is effective on January 1, 2017, however early adoption is permitted.  The Company is in the process of evaluating the impact of this new guidance.

    In February 2016, the FASB issued ASU No. 2016-02 - Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either financing or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification.  Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The standard is effective on January 1, 2019, however early adoption is permitted.  The Company is in the process of evaluating the impact of this new guidance.

    In September 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments, which amends the current business combination guidance to require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, as opposed to having to revise prior period information.  The standard also requires additional disclosure about the impact on current-period income statement line items of adjustments that would have been recognized in prior periods if prior period information had been revised. The new standard became effective for the Company on January 1, 2016. The adoption of this guidance did not have a material impact on the Company’s consolidated financial position or results of operations as there have been no measurement-period adjustments recorded.

In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs, an update to the accounting standard relating to the presentation of debt issuance costs. Under the new guidance, debt issuance costs related to a recognized debt liability will be presented on the balance sheet as a direct deduction from the debt liability. In the event that there is not an associated debt liability recorded in the consolidated financial statements, the debt issuance costs will continue to be recorded on the consolidated balance sheet as an asset until the debt liability is recorded.  The new standard became effective for the Company on January 1, 2016. The adoption of this guidance did not have a material impact on the Company’s consolidated financial position or results of operations as the update only related to changes in financial statement presentation.

In February 2015, the FASB issued ASU No. 2015-02, Consolidation – Amendments to the Consolidation Analysis, which amends the current consolidation guidance affecting both the variable interest entity (“VIE”) and voting interest entity (“VOE”) consolidation models. The standard does not add or remove any of the characteristics in determining if an entity is a VIE or VOE, but rather enhances the way the Company assesses some of these characteristics. The new standard became effective for the Company on January 1, 2016. As discussed under Basis of Presentation above, the adoption of this guidance did not have a material impact on the Company’s consolidated financial position or results of operations as none of its existing consolidation conclusions were changed.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance under GAAP when it becomes effective. The new standard will be effective for the Company beginning on January 1, 2018, however early application beginning on January 1, 2017 is permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its financial statements and related disclosures.

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Change in Status

3 Months Ended

Mar. 31, 2016

Change In Status [Abstract]

Change in Status

3. CHANGE IN STATUS

Prior to the January 19, 2016 change in status as a registered investment company, the Company recorded its investment in the self storage facilities at fair value and recorded the changes in the fair value as an unrealized gain or loss. Upon the effective date of the deregistration of the Company as a registered investment company, the fair value accounting as a registered investment company was no longer applicable to the Company, rather the Company began presenting on a consolidated basis, the underlying assets and liabilities of the self storage facilities. The Company’s initial carrying value of the net assets of the self storage facilities is the fair value on the effective date of the change in status determined as follows:

Fair value of self storage properties on the effective date of the    change in status				$	34,624,573
Total net assets of the combined self storage properties
Property plant and equipment - self storage	$	26,410,719
Cash and cash equivalents		464,585
Accounts receivable		87,103
Prepaid expenses and other assets		206,146
Accounts payable and accrued expenses		(511,066	)		26,657,487
Adjustment to record the fair value of the net assets of the self    storage properties on the effective date of the change in    status				$	7,967,086

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Investments in Securities

3 Months Ended

Mar. 31, 2016

Investments Debt And Equity Securities [Abstract]

Investments in Securities

4. INVESTMENTS IN SECURITIES

Investments in securities as of March 31, 2016 consisted of the following:

			Gross Unrealized
	Cost Basis		Gains		Losses			Value
Investment securities, available-for-sale
Common and preferred stocks	$	2,447,855	$	2,108,791	$	(5,835	)	$	4,550,811
Total investment in securities	$	2,447,855	$	2,108,791	$	(5,835	)	$	4,550,811

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Self Storage Facilities

3 Months Ended

Mar. 31, 2016

Real Estate [Abstract]

Self Storage Facilities

5. SELF STORAGE FACILITIES

The carrying value of the Company’s real estate assets is summarized as follows:

Self storage facilities, at cost:
Beginning balance	$	23,668,445
Capital expenditures for office remodeling and equipment acquisition		8,622
Ending balance		23,677,067
Land
Beginning balance		2,661,000
Ending balance		2,661,000
Accumulated depreciation:
Beginning balance		-
Depreciation expense		(201,369	)
Ending balance		(201,369	)
Construction in progress:
Beginning balance		111,116
Current development		229,793
Ending balance		340,909
Fair value adjustment due to the change in status		7,967,086
Total real estate facilities at March 31, 2016	$	34,444,693

The real estate assets as of March 31, 2016, have been adjusted to reflect the appreciated fair value of the self storage facilities as of the date of the change in status from an investment company.  

Construction in progress as of March 31, 2016 consists of the expansion project in Bolingbrook, IL which, when completed, will add approximately 45,000 leasable square feet of climate-controlled and traditional storage units, for an aggregate cost of approximately $2,400,000.

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Fair Value Measurements

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

6. FAIR VALUE MEASUREMENTS

GAAP establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration. Level 3 inputs are unobservable inputs based on our own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of March 31, 2016 and December 31, 2015:

March 31, 2016	Level 1		Level 2		Level 3		Total
Assets
Investments in securities	$	4,550,811	$	—	$	—	$	4,550,811
Total assets at fair value	$	4,550,811	$	—	$	—	$	4,550,811

December 31, 2015	Level 1		Level 2		Level 3		Total
Assets
Investments, at value
Wholly owned subsidiaries
Self storage facilities	$	—	$	—	$	34,600,000	$	34,600,000
Other		—		—		24,573		24,573
Common stocks		3,106,050		—		—		3,106,050
Preferred stocks		1,176,750		—		—		1,176,750
Other		—		—		—		—
Short term investments		3,526,337		—		—		3,526,337
Total assets at fair value	$	7,809,137	$	—	$	34,624,573	$	42,433,710

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Investments in Wholly Owned Subsidiaries

3 Months Ended

Mar. 31, 2016

Equity Method Investments And Joint Ventures [Abstract]

Investments in Wholly Owned Subsidiaries

7.  INVESTMENTS IN WHOLLY OWNED SUBSIDIARIES

The following summary sets forth the Company’s membership equity ownership including membership equity capital additions and reductions, cash dividends received by the Company, and the value of each wholly owned subsidiary as recorded in the schedule of portfolio investments as of and for the year ended December 31, 2015.

	Beginning			Membership Equity				Ending
	Equity Intertest			Gross		Gross		Equity Intertest			Dividend		Value
	Percentage			Additions		Reductions		Percentage			Income		December 31, 2015
SSG Bolingbrook LLC		100	%	$	-	$	-		100	%	$	-	$	6,100,000
SSG Dolton LLC		100	%		-		-		100	%		-		5,900,000
SSG Merrillville LLC		100	%		-		-		100	%		-		5,700,000
SSG Rochester LLC		100	%		-		-		100	%		-		5,950,000
SSG Sadsbury LLC		100	%		450,000		-		100	%		-		5,700,000
SSG Summerville I LLC		100	%		-		-		100	%		-		3,400,000
SSG Summerville II LLC		100	%		-		-		100	%		-		1,850,000
SSG Operations LLC		100	%		24,573		-		100	%		-		24,573
				$	474,573	$	-				$	-	$	34,624,573

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Earnings Per Share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share

8. EARNINGS PER SHARE

Basic earnings per share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributed to potentially diluted securities. The following table sets forth the computation of basic and diluted earnings per share:

	March 31,
	2016
Net income	$	49,121
Basic and diluted weighted average common shares outstanding		7,416,766
Basic and diluted per share net income	$	0.01

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Related Party Transactions

3 Months Ended

Mar. 31, 2016

Related Party Transactions [Abstract]

Related Party Transactions

9. RELATED PARTY TRANSACTIONS

Certain officers and directors of the Company also serve as officers and directors of Winmill & Co. Incorporated (“Winco”), Bexil Corporation, Tuxis Corporation (“Tuxis”), and their affiliates (collectively with the Company, the “Affiliates”). As of March 31, 2016, certain of the Affiliates owned approximately 2% of the Company’s outstanding common stock. Pursuant to an arrangement between a professional employer organization (“PEO”) and the Affiliates, the PEO provides payroll, benefits, compliance, and related services for employees of the Affiliates in accordance with applicable rules and regulations under the IRC and, in connection therewith, Midas Management Corporation (“MMC”), a subsidiary of Winco, acts as a conduit payer of compensation and benefits to the Affiliates’ employees including those who are concurrently employed by the Company and its Affiliates. Rent expense of concurrently used office space and overhead expenses for various concurrently used administrative and support functions incurred by the Affiliates are allocated at cost among them. The Affiliates participate in a 401(k) retirement savings plan for substantially all qualified employees. A matching expense based upon a percentage of contributions to the plan by eligible employees is incurred and allocated among the Affiliates. The matching expense is accrued and funded on a current basis and may not exceed the amount permitted as a deductible expense under the IRC. The aggregate compensation and benefits accrued and paid by the Company for the three months ended March 31, 2016 was $235,400. The aggregate rent and overhead accrued and paid by the Company for the three months ended March 31, 2016 was $18,921. As of March 31, 2016, the Company had reimbursements receivable to MMC and Winco for compensation and benefits and rent and overhead of $4,858.

Under the terms of the Company’s employment agreement with its President, Mark C. Winmill, the maximum monthly automobile allowance is $1,000 per month. To the extent that the monthly maximum payment under the Company’s automobile lease exceeds the monthly allowance, Mr. Winmill must reimburse the Company for the excess amount. In this regard, Mr. Winmill has reimbursed the Company $1,878 for the automobile payments paid and due in 2016.

The Company leases office space from Tuxis under a rental agreement. The terms of occupancy are month to month and automatically renew unless terminated by either party on ten days written notice. The monthly rental charges are $1,000 per month due and payable on the first day of each month. For the three months ended March 31, 2016, the total rent paid by the Company to Tuxis was $3,000.

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Capital Stock

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

Capital Stock

10. CAPITAL STOCK

The Company is authorized to issue 19,900,000 shares of $0.01 par value common stock. The Company also has 100,000 shares of Series A participating preferred stock, $0.01 par value, authorized, of which none has been issued.

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Stockholder Rights Plan

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

Stockholder Rights Plan

11. STOCKHOLDER RIGHTS PLAN

On January 28, 2016 the Company announced that its Board of Directors has adopted a stockholders rights plan (the “Rights Plan”). To implement the Rights Plan, the Board of Directors declared a dividend distribution of one right for each outstanding share of Company common stock, par value $.01 per share, to holders of record of the shares of common stock at the close of business on January 29, 2016. Each right entitles the registered holder to purchase from the Company one one-thousandth of a share of preferred stock, par value $.01 per share. The rights will be distributed as a non-taxable dividend and will expire on January 29, 2026. The rights will be evidenced by the underlying Company common stock, and no separate preferred stock purchase rights certificates will presently be distributed. The rights to acquire preferred stock are not immediately exercisable and will become exercisable only if a person or group, other than Exempt Persons (as defined in the Rights Plan agreement), acquires or commences a tender offer for 9.8% or more of the Company’s common stock. If a person or group, other than an Exempt Person, acquires or commences a tender offer for 9.8% or more of the Company’s common stock, each holder of a right, except the acquirer, will be entitled, subject to the Company’s right to redeem or exchange the right, to exercise, at an exercise price of $12, the right for one one-thousandth of a share of the Company’s newly created Series A Participating Preferred Stock, or the number of shares of Company common stock equal to the holder’s number of rights multiplied by the exercise price and divided by 50% of the market price of the Company’s common stock on the date of the occurrence of such an event. The Company’s Board of Directors may terminate the Rights Plan at any time or redeem the rights, for $0.01 per right, at any time before a person acquires 9.8% or more of the Company’s common stock. This Rights Plan replaced the Plan dated November 25, 2015, which expired on its own terms on March 24, 2016.

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Commitments and Contingencies

3 Months Ended

Mar. 31, 2016

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

12. COMMITMENTS AND CONTINGENCIES

The Company enters into contracts that contain a variety of representations and warranties and which may provide general indemnifications. The Company’s maximum exposure under these arrangements is unknown as it involves future claims that may be made against the Company under circumstances that have not occurred.

The Company leases an automobile under a lease expiring on February 25, 2017. The future minimum lease payments under the lease in aggregate are $15,035 comprised of annual payments of $13,878 and $1,157 for the years ending December 31, 2016 and 2017, respectively.

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Subsequent Events

3 Months Ended

Mar. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

13. SUBSEQUENT EVENTS

On May 9, 2016, the Company through its wholly owned subsidiary, entered into an agreement with Gray Eagle Development, LLP to acquire a self storage facility located in Fishers, Indiana (the "New Property") for the sum of $7,700,000 (the "Purchase Agreement").  The Company's obligation to close under the Purchase Agreement is expressly conditioned upon (i) the New Property being satisfactory to the Company in all respects upon completion of the Company's due diligence review and inspection of the New Property and (ii) the occurrence or fulfillment of other conditions precedent to closing under the Purchase Agreement.  If certain of the conditions precedent to closing under the Purchase Agreement are not satisfied, the Company, in addition to its other remedies set forth in the Purchase Agreement, shall be entitled to (A) terminate the Purchase Agreement and the Purchase Agreement shall be deemed null and void, (B) pursue specific performance of the Purchase Agreement and/or (C) pursue any other remedies at law or in equity.

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Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Accounts Payable and Accrued Expenses

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses primarily consist of property tax accruals, unearned rental income, and trade payables.

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid investments, and may include money market fund shares, purchased with an original maturity of three months or less. The carrying amount reported on the balance sheet for cash and cash equivalents approximates fair value.

Income Taxes

Income Taxes

The Company has elected to be treated as a REIT under the IRC. In order to maintain its qualification as a REIT, among other things, the Company is required to distribute at least 90% of its REIT taxable income to its stockholders and meet certain tests regarding the nature of its income and assets. As a REIT, the Company is not subject to federal income tax with respect to that portion of its income which meets certain criteria and is distributed annually to stockholders. The Company plans to continue to operate so that it meets the requirements for taxation as a REIT. Many of these requirements, however, are highly technical and complex. If the Company were to fail to meet these requirements, it would be subject to federal income tax. The Company is subject to certain state and local taxes.

The Company recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by tax authorities. The Company has reviewed its tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on federal, state, and local income tax returns for open tax years (2013 – 2015), or is expected to be taken in the Company’s 2016 tax returns.

Investments in Securities

Investments in Securities

Investments in equity securities that have readily determinable fair values are accounted for as available-for-sale. Available-for-sale securities are measured at fair value. Gains or losses from changes in the fair value of available-for-sale securities are recorded in accumulated other comprehensive income, until the investment is sold or otherwise disposed of, or until the investment is determined to be other-than-temporarily impaired, at which time the cumulative gain or loss previously reported in equity is included in income. The specific identification method is used to determine the realized gain or loss on investments sold or otherwise disposed.

Fair value is determined using a valuation hierarchy generally by reference to an active trading market, using quoted closing or bid prices. Judgment is used to ascertain if a formerly active market has become inactive and in determining fair values when markets have become inactive.

The Company periodically evaluates the carrying value of investment in securities for impairment. The Company considers, among other factors, the duration and extent of any decline in fair value, the intent and ability of the Company to hold the security for a period of time sufficient for a recovery in value, and recent events specific to the issuer or industry. If the decline in value is determined to be other-than-temporary, the carrying value of the security is written down to fair value through the income statement.

Real Estate Assets

Real Estate Assets

Real estate assets are carried at the appreciated value as of January 19, 2016, the effective date of the change in status. Purchases subsequent to the effective date of the change in status are carried at cost, less accumulated depreciation. Direct and allowable internal costs associated with the development, construction, renovation, and improvement of real estate assets are capitalized. Property taxes, and other costs associated with development incurred during the construction period are capitalized. The construction period begins when expenditures for the real estate assets have been made and activities that are necessary to prepare the asset for its intended use are in progress. The construction period ends when the asset is substantially complete and ready for its intended use.

Expenditures for maintenance and repairs are charged to expense as incurred. Major replacements and betterments that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives. Depreciation is computed using the straight-line method over the estimated useful lives of the buildings and improvements, which are generally between 5 and 39 years.

Revenue and Expense Recognition

Revenue and Expense Recognition

Revenues from stores, which is primarily composed of rental income earned pursuant to month-to-month leases for storage space, as well as associated late charges and administrative fees, are recognized as earned. Promotional discounts reduce rental income over the promotional period, which is generally one month. Ancillary revenues from sales of merchandise and tenant insurance and other income are recognized when earned.

The Company accrues for property tax expense based upon actual amounts billed and, in some circumstances, estimates and historical trends when bills or assessments have not been received from the taxing authorities or such bills and assessments are in dispute. If these estimates are incorrect, the timing and amount of expense recognition could be incorrect. Cost of operations and general and administrative expense are expensed as incurred.

Credit Risk

Credit Risk

Financial assets that are exposed to credit risk consist primarily of cash and cash equivalents and certain portions of accounts receivable including rents receivable from our tenants.  Cash and cash equivalents are on deposit with highly rated commercial banks.

Evaluation of Asset Impairment

Evaluation of Asset Impairment

The Company evaluates its real estate assets for impairment each quarter.  If there are indicators of impairment and we determine that the asset is not recoverable from future undiscounted cash flows to be received through the asset’s remaining life (or, if earlier, the expected disposal date), we record an impairment charge to the extent the carrying amount exceeds the asset’s estimated fair value or net proceeds from expected disposal.

Use of Estimates

Use of Estimates

The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from management’s estimates.

Recently Issued Accounting Standards

Recently Issued Accounting Standards

   In March 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which is intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. The new guidance allows for entities to make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. In addition, the guidance allows employers to withhold shares to satisfy minimum statutory tax withholding requirements up to the employees’ maximum individual tax rate without causing the award to be classified as a liability. The guidance also stipulates that cash paid by an employer to a taxing authority when directly withholding shares for tax-withholding purposes should be classified as a financing activity on the statement of cash flows. The standard is effective on January 1, 2017, however early adoption is permitted.  The Company is in the process of evaluating the impact of this new guidance.

    In February 2016, the FASB issued ASU No. 2016-02 - Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either financing or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification.  Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The standard is effective on January 1, 2019, however early adoption is permitted.  The Company is in the process of evaluating the impact of this new guidance.

    In September 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments, which amends the current business combination guidance to require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, as opposed to having to revise prior period information.  The standard also requires additional disclosure about the impact on current-period income statement line items of adjustments that would have been recognized in prior periods if prior period information had been revised. The new standard became effective for the Company on January 1, 2016. The adoption of this guidance did not have a material impact on the Company’s consolidated financial position or results of operations as there have been no measurement-period adjustments recorded.

In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs, an update to the accounting standard relating to the presentation of debt issuance costs. Under the new guidance, debt issuance costs related to a recognized debt liability will be presented on the balance sheet as a direct deduction from the debt liability. In the event that there is not an associated debt liability recorded in the consolidated financial statements, the debt issuance costs will continue to be recorded on the consolidated balance sheet as an asset until the debt liability is recorded.  The new standard became effective for the Company on January 1, 2016. The adoption of this guidance did not have a material impact on the Company’s consolidated financial position or results of operations as the update only related to changes in financial statement presentation.

In February 2015, the FASB issued ASU No. 2015-02, Consolidation – Amendments to the Consolidation Analysis, which amends the current consolidation guidance affecting both the variable interest entity (“VIE”) and voting interest entity (“VOE”) consolidation models. The standard does not add or remove any of the characteristics in determining if an entity is a VIE or VOE, but rather enhances the way the Company assesses some of these characteristics. The new standard became effective for the Company on January 1, 2016. As discussed under Basis of Presentation above, the adoption of this guidance did not have a material impact on the Company’s consolidated financial position or results of operations as none of its existing consolidation conclusions were changed.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance under GAAP when it becomes effective. The new standard will be effective for the Company beginning on January 1, 2018, however early application beginning on January 1, 2017 is permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its financial statements and related disclosures.

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Change in Status (Tables)

3 Months Ended

Mar. 31, 2016

Change In Status [Abstract]

Fair Value of Facilities on Effective Date of Change in Status

The Company’s initial carrying value of the net assets of the self storage facilities is the fair value on the effective date of the change in status determined as follows:

Fair value of self storage properties on the effective date of the    change in status				$	34,624,573
Total net assets of the combined self storage properties
Property plant and equipment - self storage	$	26,410,719
Cash and cash equivalents		464,585
Accounts receivable		87,103
Prepaid expenses and other assets		206,146
Accounts payable and accrued expenses		(511,066	)		26,657,487
Adjustment to record the fair value of the net assets of the self    storage properties on the effective date of the change in    status				$	7,967,086

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Investments in Securities (Tables)

3 Months Ended

Mar. 31, 2016

Investments Debt And Equity Securities [Abstract]

Schedule of Investments in Securities

Investments in securities as of March 31, 2016 consisted of the following:

			Gross Unrealized
	Cost Basis		Gains		Losses			Value
Investment securities, available-for-sale
Common and preferred stocks	$	2,447,855	$	2,108,791	$	(5,835	)	$	4,550,811
Total investment in securities	$	2,447,855	$	2,108,791	$	(5,835	)	$	4,550,811

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Self Storage Facilities (Tables)

3 Months Ended

Mar. 31, 2016

Real Estate [Abstract]

Summary of Carrying Value of Real Estate Assets

The carrying value of the Company’s real estate assets is summarized as follows:

Self storage facilities, at cost:
Beginning balance	$	23,668,445
Capital expenditures for office remodeling and equipment acquisition		8,622
Ending balance		23,677,067
Land
Beginning balance		2,661,000
Ending balance		2,661,000
Accumulated depreciation:
Beginning balance		-
Depreciation expense		(201,369	)
Ending balance		(201,369	)
Construction in progress:
Beginning balance		111,116
Current development		229,793
Ending balance		340,909
Fair value adjustment due to the change in status		7,967,086
Total real estate facilities at March 31, 2016	$	34,444,693

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of March 31, 2016 and December 31, 2015:

March 31, 2016	Level 1		Level 2		Level 3		Total
Assets
Investments in securities	$	4,550,811	$	—	$	—	$	4,550,811
Total assets at fair value	$	4,550,811	$	—	$	—	$	4,550,811

December 31, 2015	Level 1		Level 2		Level 3		Total
Assets
Investments, at value
Wholly owned subsidiaries
Self storage facilities	$	—	$	—	$	34,600,000	$	34,600,000
Other		—		—		24,573		24,573
Common stocks		3,106,050		—		—		3,106,050
Preferred stocks		1,176,750		—		—		1,176,750
Other		—		—		—		—
Short term investments		3,526,337		—		—		3,526,337
Total assets at fair value	$	7,809,137	$	—	$	34,624,573	$	42,433,710

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Investments in Wholly Owned Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2016

Equity Method Investments And Joint Ventures [Abstract]

Schedule of Membership Equity Ownership

The following summary sets forth the Company’s membership equity ownership including membership equity capital additions and reductions, cash dividends received by the Company, and the value of each wholly owned subsidiary as recorded in the schedule of portfolio investments as of and for the year ended December 31, 2015.

	Beginning			Membership Equity				Ending
	Equity Intertest			Gross		Gross		Equity Intertest			Dividend		Value
	Percentage			Additions		Reductions		Percentage			Income		December 31, 2015
SSG Bolingbrook LLC		100	%	$	-	$	-		100	%	$	-	$	6,100,000
SSG Dolton LLC		100	%		-		-		100	%		-		5,900,000
SSG Merrillville LLC		100	%		-		-		100	%		-		5,700,000
SSG Rochester LLC		100	%		-		-		100	%		-		5,950,000
SSG Sadsbury LLC		100	%		450,000		-		100	%		-		5,700,000
SSG Summerville I LLC		100	%		-		-		100	%		-		3,400,000
SSG Summerville II LLC		100	%		-		-		100	%		-		1,850,000
SSG Operations LLC		100	%		24,573		-		100	%		-		24,573
				$	474,573	$	-				$	-	$	34,624,573

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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

	March 31,
	2016
Net income	$	49,121
Basic and diluted weighted average common shares outstanding		7,416,766
Basic and diluted per share net income	$	0.01

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SCHEDULE OF PORTFOLIO INVESTMENTS (Details) - USD ($)		Dec. 31, 2015	Dec. 31, 2014
Schedule Of Investments [Line Items]
Investments, Value		$ 42,433,710
Liabilities in excess of other assets		(147,188)
Net Assets		42,286,522
RMR Asia Pacific Fund Fractional Shares
Schedule Of Investments [Line Items]
Investments, Value	[1]	$ 0
Investments, Shares	[1]	2
Short-term Investments | SSgA Money Market Fund Annualized Yield
Schedule Of Investments [Line Items]
Investments, Value		$ 3,526,337
Investments, Shares		3,526,337
Real Estate Investment Trusts | Common Stocks
Schedule Of Investments [Line Items]
Investments, Value		$ 3,106,050
Real Estate Investment Trusts | Common Stocks | Diversified Real Estate Investment Trusts | Public Storage
Schedule Of Investments [Line Items]
Investments, Value		$ 668,790
Investments, Shares		2,700
Real Estate Investment Trusts | Common Stocks | Industrial Real Estate Investment Trusts
Schedule Of Investments [Line Items]
Investments, Value		$ 2,437,260
Real Estate Investment Trusts | Common Stocks | Industrial Real Estate Investment Trusts | CubeSmart
Schedule Of Investments [Line Items]
Investments, Value		$ 734,880
Investments, Shares		24,000
Real Estate Investment Trusts | Common Stocks | Industrial Real Estate Investment Trusts | Extra Space Storage, Inc.
Schedule Of Investments [Line Items]
Investments, Value		$ 1,058,520
Investments, Shares		12,000
Real Estate Investment Trusts | Common Stocks | Industrial Real Estate Investment Trusts | Sovran Self Storage, Inc.
Schedule Of Investments [Line Items]
Investments, Value		$ 643,860
Investments, Shares		6,000
Real Estate Investment Trusts | Preferred Stocks
Schedule Of Investments [Line Items]
Investments, Value		$ 1,176,750
Real Estate Investment Trusts | Preferred Stocks | Industrial Real Estate Investment Trusts | CubeSmart | 7.75% Series A Preferred Stock
Schedule Of Investments [Line Items]
Investments, Value		$ 392,250
Investments, Shares		15,000
Real Estate Investment Trusts | Preferred Stocks | Retail Real Estate Investment Trusts
Schedule Of Investments [Line Items]
Investments, Value		$ 784,500
Real Estate Investment Trusts | Preferred Stocks | Retail Real Estate Investment Trusts | Pennsylvania Real Estate Investment Trust | 8.25% Series A Preferred Stock
Schedule Of Investments [Line Items]
Investments, Value		$ 387,150
Investments, Shares		15,000
Real Estate Investment Trusts | Preferred Stocks | Retail Real Estate Investment Trusts | Realty Income Corp | 6.625% Series F Preferred Stock
Schedule Of Investments [Line Items]
Investments, Value		$ 397,350
Investments, Shares		15,000
Wholly Owned Subsidiaries
Schedule Of Investments [Line Items]
Investments, Value		$ 34,624,573
Wholly Owned Subsidiaries | SSG Bolingbrook LLC
Schedule Of Investments [Line Items]
Member Equity Interest		100.00%	100.00%
Investments, Value		$ 6,100,000
Wholly Owned Subsidiaries | SSG Dolton LLC
Schedule Of Investments [Line Items]
Member Equity Interest		100.00%	100.00%
Investments, Value		$ 5,900,000
Wholly Owned Subsidiaries | SSG Merrillville LLC
Schedule Of Investments [Line Items]
Member Equity Interest		100.00%	100.00%
Investments, Value		$ 5,700,000
Wholly Owned Subsidiaries | SSG Rochester LLC
Schedule Of Investments [Line Items]
Member Equity Interest		100.00%	100.00%
Investments, Value		$ 5,950,000
Wholly Owned Subsidiaries | SSG Sadsbury LLC
Schedule Of Investments [Line Items]
Member Equity Interest		100.00%	100.00%
Investments, Value		$ 5,700,000
Wholly Owned Subsidiaries | SSG Summerville I LLC
Schedule Of Investments [Line Items]
Member Equity Interest		100.00%	100.00%
Investments, Value		$ 3,400,000
Wholly Owned Subsidiaries | SSG Summerville II LLC
Schedule Of Investments [Line Items]
Member Equity Interest		100.00%	100.00%
Investments, Value		$ 1,850,000
Wholly Owned Subsidiaries | SSG Operations LLC
Schedule Of Investments [Line Items]
Member Equity Interest		100.00%	100.00%
Investments, Value		$ 24,573
Wholly Owned Subsidiaries | Self Storage Properties
Schedule Of Investments [Line Items]
Investments, Value		$ 34,600,000
Wholly Owned Subsidiaries | Self Storage Properties | SSG Bolingbrook LLC
Schedule Of Investments [Line Items]
Member Equity Interest	[1],[2]	100.00%
Investments, Value	[1],[2]	$ 6,100,000
Wholly Owned Subsidiaries | Self Storage Properties | SSG Dolton LLC
Schedule Of Investments [Line Items]
Member Equity Interest	[1],[2]	100.00%
Investments, Value	[1],[2]	$ 5,900,000
Wholly Owned Subsidiaries | Self Storage Properties | SSG Merrillville LLC
Schedule Of Investments [Line Items]
Member Equity Interest	[1],[2]	100.00%
Investments, Value	[1],[2]	$ 5,700,000
Wholly Owned Subsidiaries | Self Storage Properties | SSG Rochester LLC
Schedule Of Investments [Line Items]
Member Equity Interest	[1],[2]	100.00%
Investments, Value	[1],[2]	$ 5,950,000
Wholly Owned Subsidiaries | Self Storage Properties | SSG Sadsbury LLC
Schedule Of Investments [Line Items]
Member Equity Interest	[1],[2]	100.00%
Investments, Value	[1],[2]	$ 5,700,000
Wholly Owned Subsidiaries | Self Storage Properties | SSG Summerville I LLC
Schedule Of Investments [Line Items]
Member Equity Interest	[1],[2]	100.00%
Investments, Value	[1],[2]	$ 3,400,000
Wholly Owned Subsidiaries | Self Storage Properties | SSG Summerville II LLC
Schedule Of Investments [Line Items]
Member Equity Interest	[1],[2]	100.00%
Investments, Value	[1],[2]	$ 1,850,000
Wholly Owned Subsidiaries | Other | SSG Operations LLC
Schedule Of Investments [Line Items]
Member Equity Interest	[1],[2]	100.00%
Investments, Value	[1],[2]	$ 24,573

[1] Illiquid and/or restricted security that has been fair valued.

[2] Controlled affiliate.

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SCHEDULE OF PORTFOLIO INVESTMENTS (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2015 USD ($)
Schedule Of Investments [Line Items]
Investment net of asset, percentage	100.00%
Investment, cost	$ 33,723,765
Investment at cost, percentage	100.35%
Liabilities in excess of other assets, percentage	(0.35%)
7.75% Series A Preferred Stock | Industrial Real Estate Investment Trusts | CubeSmart
Schedule Of Investments [Line Items]
Preferred stock dividend percentage	7.75%
Self Storage Properties
Schedule Of Investments [Line Items]
Investment net of asset, percentage	81.82%
Investment, cost	$ 27,725,000
Other | RMR Asia Pacific Fund Fractional Shares
Schedule Of Investments [Line Items]
Investment net of asset, percentage	0.00%
Investment, cost	$ 0
Other | SSG Operations LLC
Schedule Of Investments [Line Items]
Investment net of asset, percentage	0.06%
Investment, cost	$ 24,573
Real Estate Investment Trusts | 8.25% Series A Preferred Stock | Retail Real Estate Investment Trusts | Pennsylvania Real Estate Investment Trust
Schedule Of Investments [Line Items]
Preferred stock dividend percentage	8.25%
Real Estate Investment Trusts | 6.625% Series F Preferred Stock | Retail Real Estate Investment Trusts | Realty Income Corp
Schedule Of Investments [Line Items]
Preferred stock dividend percentage	6.625%
Wholly Owned Subsidiaries
Schedule Of Investments [Line Items]
Investment net of asset, percentage	81.88%
Investment, cost	$ 27,749,573
Real Estate Owned
Schedule Of Investments [Line Items]
Investment net of asset, percentage	81.82%
Common stock, par value
Schedule Of Investments [Line Items]
Investment net of asset, percentage	7.34%
Investment, cost	$ 1,360,102
Common stock, par value | Real Estate Investment Trusts
Schedule Of Investments [Line Items]
Investment net of asset, percentage	7.34%
Common stock, par value | Real Estate Investment Trusts | Diversified Real Estate Investment Trusts
Schedule Of Investments [Line Items]
Investment net of asset, percentage	1.58%
Common stock, par value | Real Estate Investment Trusts | Industrial Real Estate Investment Trusts
Schedule Of Investments [Line Items]
Investment net of asset, percentage	5.76%
Preferred Stocks
Schedule Of Investments [Line Items]
Investment net of asset, percentage	2.79%
Investment, cost	$ 1,087,753
Preferred Stocks | Real Estate Investment Trusts
Schedule Of Investments [Line Items]
Investment net of asset, percentage	2.79%
Preferred Stocks | Real Estate Investment Trusts | Industrial Real Estate Investment Trusts
Schedule Of Investments [Line Items]
Investment net of asset, percentage	0.93%
Preferred Stocks | Real Estate Investment Trusts | Retail Real Estate Investment Trusts
Schedule Of Investments [Line Items]
Investment net of asset, percentage	1.86%
Short-term Investments
Schedule Of Investments [Line Items]
Investment net of asset, percentage	8.34%
Short-term Investments | S Sg A Money Market Fund
Schedule Of Investments [Line Items]
Investment, cost	$ 3,526,337
Annualized yield, period	7 days
Annualized yield, percentage	0.01%

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Organization- Additional Information (Details)	3 Months Ended
	Mar. 31, 2016 store segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of owned and operated stores | store	7
Number of operating segment | segment	1

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Basis of Presentation - Additional Information (Details)	3 Months Ended
	Mar. 31, 2016 USD ($)
Summary of Significant Accounting Policies [Line Items]
Percentage of real estate investment trust taxable income distributed for exemption of federal income tax	90.00%
Unrecognized tax benefits	$ 0
Minimum
Summary of Significant Accounting Policies [Line Items]
Estimated useful lives of buildings and improvements	5 years
Maximum
Summary of Significant Accounting Policies [Line Items]
Estimated useful lives of buildings and improvements	39 years

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Change in Status - Fair Value of Facilities on Effective Date of Change in Status (Details) - USD ($)	2 Months Ended
	Mar. 31, 2016	Jan. 19, 2016
Fair Value Of Facilities On Effective Date Of Change In Status [Line Items]
Fair value adjustment of wholly owned subsidiaries on the effective date of the change in status	$ 7,967,086
Self Storage Properties
Fair Value Of Facilities On Effective Date Of Change In Status [Line Items]
Fair value of self storage properties on the effective date of the change in status		$ 34,624,573
Total net assets of the combined self storage properties	26,657,487
Fair value adjustment of wholly owned subsidiaries on the effective date of the change in status	7,967,086
Self Storage Properties | Prepaid Expenses and Other Assets [Member]
Fair Value Of Facilities On Effective Date Of Change In Status [Line Items]
Total net assets of the combined self storage properties	206,146
Self Storage Properties | Accounts Payable and Accrued Expenses [Member]
Fair Value Of Facilities On Effective Date Of Change In Status [Line Items]
Total net assets of the combined self storage properties	(511,066)
Self Storage Properties | Property Plant and Equipment [Member]
Fair Value Of Facilities On Effective Date Of Change In Status [Line Items]
Total net assets of the combined self storage properties	26,410,719
Self Storage Properties | Cash and Cash Equivalents [Member]
Fair Value Of Facilities On Effective Date Of Change In Status [Line Items]
Total net assets of the combined self storage properties	464,585
Self Storage Properties | Accounts Receivable [Member]
Fair Value Of Facilities On Effective Date Of Change In Status [Line Items]
Total net assets of the combined self storage properties	$ 87,103

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Investments in Securities - Schedule of Investments in Securities (Details)	Mar. 31, 2016 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Cost Basis	$ 2,447,855
Gross Unrealized Gains	2,108,791
Gross Unrealized Losses	(5,835)
Investments in securities	4,550,811
Common and preferred stocks
Schedule Of Available For Sale Securities [Line Items]
Cost Basis	2,447,855
Gross Unrealized Gains	2,108,791
Gross Unrealized Losses	(5,835)
Investments in securities	$ 4,550,811

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Self Storage Facilities - Summary of Carrying Value of Real Estate Assets (Details) - USD ($)	2 Months Ended
	Mar. 31, 2016	Jan. 18, 2016
Real Estate [Abstract]
Beginning balance (Self storage facilities, at cost)	$ 23,668,445
Capital expenditures for office remodeling and equipment acquisition	8,622
Ending balance (Self storage facilities, at cost)	23,677,067
Land	2,661,000	$ 2,661,000
Depreciation expense	(201,369)
Ending balance, accumulated depreciation	(201,369)
Beginning balance, construction in progress	111,116
Current development	229,793
Ending balance, construction in progress	340,909
Fair value adjustment of wholly owned subsidiaries on the effective date of the change in status	7,967,086
Self storage facilities, net	$ 34,444,693

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Self Storage Facilities - Additional Information (Details)	3 Months Ended
	Mar. 31, 2016 USD ($) ft²
Real Estate [Abstract]
Leasable square feet of climate-controlled and traditional storage units | ft²	45,000
Aggregate cost to expansion of storage facilities | $	$ 2,400,000

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Fair Value Measurements - Assets and Liabilities Carried at Fair Value Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Assets
Total assets at fair value	$ 4,550,811	$ 42,433,710
Level 1
Assets
Total assets at fair value	4,550,811	7,809,137
Level 3
Assets
Total assets at fair value		34,624,573
Investments in securities
Assets
Total assets at fair value	4,550,811
Investments in securities | Level 1
Assets
Total assets at fair value	$ 4,550,811
Self storage facilities | Wholly Owned Subsidiaries
Assets
Total assets at fair value		34,600,000
Self storage facilities | Level 3 | Wholly Owned Subsidiaries
Assets
Total assets at fair value		34,600,000
Other | Wholly Owned Subsidiaries
Assets
Total assets at fair value		24,573
Other | Level 3 | Wholly Owned Subsidiaries
Assets
Total assets at fair value		24,573
Common Stocks
Assets
Total assets at fair value		3,106,050
Common Stocks | Level 1
Assets
Total assets at fair value		3,106,050
Preferred Stocks
Assets
Total assets at fair value		1,176,750
Preferred Stocks | Level 1
Assets
Total assets at fair value		1,176,750
Short-term Investments
Assets
Total assets at fair value		3,526,337
Short-term Investments | Level 1
Assets
Total assets at fair value		$ 3,526,337

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Investments in Wholly Owned Subsidiaries - Schedule of Membership Equity Ownership (Details)	12 Months Ended
	Dec. 31, 2015 USD ($)
Schedule Of Investments [Line Items]
Value	$ 42,433,710
Wholly Owned Subsidiaries
Schedule Of Investments [Line Items]
Membership Equity, Gross Additions	474,573
Value	$ 34,624,573
Wholly Owned Subsidiaries | SSG Bolingbrook LLC
Schedule Of Investments [Line Items]
Beginning Equity Interest Percentage	100.00%
Ending Equity Interest Percentage	100.00%
Value	$ 6,100,000
Wholly Owned Subsidiaries | SSG Dolton LLC
Schedule Of Investments [Line Items]
Beginning Equity Interest Percentage	100.00%
Ending Equity Interest Percentage	100.00%
Value	$ 5,900,000
Wholly Owned Subsidiaries | SSG Merrillville LLC
Schedule Of Investments [Line Items]
Beginning Equity Interest Percentage	100.00%
Ending Equity Interest Percentage	100.00%
Value	$ 5,700,000
Wholly Owned Subsidiaries | SSG Rochester LLC
Schedule Of Investments [Line Items]
Beginning Equity Interest Percentage	100.00%
Ending Equity Interest Percentage	100.00%
Value	$ 5,950,000
Wholly Owned Subsidiaries | SSG Sadsbury LLC
Schedule Of Investments [Line Items]
Beginning Equity Interest Percentage	100.00%
Membership Equity, Gross Additions	$ 450,000
Ending Equity Interest Percentage	100.00%
Value	$ 5,700,000
Wholly Owned Subsidiaries | SSG Summerville I LLC
Schedule Of Investments [Line Items]
Beginning Equity Interest Percentage	100.00%
Ending Equity Interest Percentage	100.00%
Value	$ 3,400,000
Wholly Owned Subsidiaries | SSG Summerville II LLC
Schedule Of Investments [Line Items]
Beginning Equity Interest Percentage	100.00%
Ending Equity Interest Percentage	100.00%
Value	$ 1,850,000
Wholly Owned Subsidiaries | SSG Operations LLC
Schedule Of Investments [Line Items]
Beginning Equity Interest Percentage	100.00%
Membership Equity, Gross Additions	$ 24,573
Ending Equity Interest Percentage	100.00%
Value	$ 24,573

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Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details)	2 Months Ended
	Mar. 31, 2016 USD ($) $ / shares shares
Earnings Per Share [Abstract]
Net income | $	$ 49,121
Basic and diluted weighted average common shares outstanding | shares	7,416,766
Earnings per share - basic and diluted | $ / shares	$ 0.01

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Related Party Transactions - Additional Information (Details)	3 Months Ended
	Mar. 31, 2016 USD ($)
Related Party Transaction [Line Items]
Aggregate compensation and benefits accrued expense paid	$ 235,400
Aggregate rent and overhead accrued expense paid	18,921
Automobile allowance reimbursed	1,878
Maximum
Related Party Transaction [Line Items]
Monthly automobile allowance	$ 1,000
PEO
Related Party Transaction [Line Items]
Percentage ownership by affiliates	2.00%
MMC and Winco
Related Party Transaction [Line Items]
Reimbursements receivable	$ 4,858
Tuxis
Related Party Transaction [Line Items]
Termination of notice period	10 days
Monthly rental charges	$ 1,000
Payments for rent	$ 3,000

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Capital Stock - Additional Information (Details) - $ / shares	Mar. 31, 2016	Jan. 29, 2016
Capital Stock [Line Items]
Common stock, shares authorized	19,900,000
Common stock, par value	$ 0.01
Preferred stock, par value		$ 0.01
Series A Participating Preferred Stock
Capital Stock [Line Items]
Preferred stock, shares authorized	100,000
Preferred stock, par value	$ 0.01
Preferred stock, shares issued (in series)	0

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Stockholder Rights Plan - Additional Information (Details)	Jan. 29, 2016 right $ / shares $ / right	Mar. 31, 2016 $ / shares
Class Of Stock [Line Items]
Number of rights for each outstanding share | right	1
Common stock, par value		$ 0.01
Right to purchase a share of preferred stock	Each right entitles the registered holder to purchase from the Company one one-thousandth of a share of preferred stock, par value $.01 per share.
Preferred stock, par value	$ 0.01
Rights expiration date	Jan. 29, 2026
Minimum percentage of common stock for tender offer	9.80%
Exercise price of rights	$ 12
Percentage of market price of common stock	50.00%
Redemption price per right | $ / right	0.01
Series A Preferred Stock
Class Of Stock [Line Items]
Right to purchase a share of preferred stock	Each holder of a right, except the acquirer, will be entitled, subject to the Company’s right to redeem or exchange the right, to exercise, at an exercise price of $12, the right for one one-thousandth of a share of the Company’s newly created Series A Participating Preferred Stock
Preferred stock, par value		$ 0.01

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Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2016 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Lease expiration date	Feb. 25, 2017
Operating leases, aggregate future minimum payments, due	$ 15,035
Operating leases, future minimum payments, due in 2016	13,878
Operating leases, future minimum payments, due in 2017	$ 1,157

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Subsequent Events - Additional Information (Details)	May 09, 2016 USD ($)
Subsequent Event | New Property
Subsequent Event [Line Items]
Purchase of self storage facility	$ 7,700,000