v3.22.2.2
SHARE OFFERINGS AND FEES
12 Months Ended
Jun. 30, 2022
SHARE OFFERINGS AND FEES [Abstract]  
SHARE OFFERINGS AND FEES
NOTE 11 – SHARE OFFERINGS AND FEES

During the year ended June 30, 2022, we issued 128,741 common shares with total gross proceeds of $1,187,630 under the DRIP. In March 2022, we issued 212 common shares at $10.25 per share to the Class A unit holders of the Operating Partnership. The Class A units of the Operating Partnerships are convertible to our common share on 1:1 basis. In addition, we also issued 3,172 units of common shares at $8.67 per share pursuant to the FSP Satellite merger as discussed in Note 1.

During the year ended June 30, 2021, we issued 21,720 shares with gross proceeds of $218,439. For the year ended June 30, 2021, we incurred selling commissions and fees of $18,060. In addition to the shares sold through our public offering, in October 2020, we issued 504,091.15 shares at $7.85 per share, which was the most recent NAV at the time of the issuance, to the Class A unit holders of the Operating Partnership as discussed in Note 1.

During the year ended June 30, 2022, we issued 119,380 preferred shares with gross proceeds of $2,957,530 and incurred syndication costs of $847,167 in relation to preferred shares offering. For the year ended June 30, 2022, we issued 36.70 preferred shares with total gross proceeds of $826 under the DRIP.