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CONSOLIDATED STATEMENTS OF CASH FLOWS
3 Months Ended 6 Months Ended
Jun. 30, 2021
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2020
USD ($)
Cash flows from operating activities      
Net income (loss)   $ 1,272,546 $ (378,568)
Adjustments to reconcile net income (loss) to net cash provided by operating activities      
Depreciation and amortization   812,175 1,018,681
Unrealized (gain) loss on marketable equity securities $ (494,461) (709,197) 218,169
Amortization of loan procurement costs   99,501 100,029
Stock-based compensation   86,182 64,479
Changes in operating assets and liabilities:      
Accounts receivable   (41,537) 77,996
Prepaid expenses and other assets   51,110 (107,514)
Accounts payable and accrued expenses   323,994 40,494
Net cash provided by operating activities   1,894,774 1,033,766
Cash flows from investing activities      
Improvements and equipment additions   (171,444) (100,427)
Construction     (1,043,538)
Net cash used in investing activities   (171,444) (1,143,965)
Cash flows from financing activities      
Issuance of common stock, net of expenses   6,184,684  
Principal payments on note payable   (253,355) (242,972)
Dividends paid   (1,218,428) (1,212,669)
Net cash provided by (used in) financing activities   4,712,901 (1,455,641)
Net increase (decrease) in cash, cash equivalents, and restricted cash   6,436,231 (1,565,840)
Cash, cash equivalents, and restricted cash, beginning of period 8,391,674 1,955,443 4,253,565
Cash, cash equivalents, and restricted cash, end of period 8,391,674 8,391,674  
Supplemental cash flow and noncash information      
Cash paid for interest   474,163 518,070
Supplemental disclosure of noncash activities:      
Dividends payable $ 1,103 $ 1,103 $ 1,954