DEBT (Tables)

3 Months Ended

Mar. 31, 2022

DEBT [Abstract]

Scheduled of Principal Payments on Senior Unsecured Notes

The 2027 Senior Notes are due on May 1, 2027. Scheduled principal payments on the senior unsecured notes as of March 31, 2022 are as follows:

	Senior Unsecured Notes
Year
2022 (remaining)	$	-
2023		-
2024		-
2025		-
2026		-
Thereafter		100,000,000
Total principal	$	100,000,000

Summary of Interest Expense Incurred

The following table reflects a summary of interest expense incurred during the three months ended March 31, 2022. There was no interest expense incurred during the three months ended March 31, 2021.

	Three months ended March 31, 2022
	Senior Unsecured Notes		Line of Credit		Total Borrowings
Interest expense	$	1,421,529	$	19,792	$	1,441,321
Unused fee expense		-		45,833		45,833
Amortization of deferred financing costs		161,979		50,982		212,961
Total interest expense	$	1,583,508	$	116,607	$	1,700,115