v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 555,152 $ 266,150
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 406,846 406,925
Unrealized loss on marketable equity securities 13,345 174,878
Unrealized loss on interest rate cap premium 12,539 20,681
Amortization of loan procurement costs 28,383 34,498
Stock-based compensation 100,736 71,004
Changes in operating assets and liabilities:    
Accounts receivable 24,323 16,744
Prepaid expenses and other assets 4,411 (1,179)
Accounts payable and accrued expenses (75,836) (192,688)
Net cash provided by operating activities 1,069,899 797,013
Cash flows from investing activities    
Improvements and equipment additions (45,639) (10,071)
Net cash used in investing activities (45,639) (10,071)
Cash flows from financing activities    
Principal payments on note payable (148,977) (142,871)
Dividends paid (815,286) (806,377)
Net cash used in financing activities (964,263) (949,248)
Net increase (decrease) in cash, cash equivalents, and restricted cash 59,997 (162,306)
Cash, cash equivalents, and restricted cash, beginning of period 7,210,061 7,028,546
Cash, cash equivalents, and restricted cash, end of period 7,270,058 6,866,240
Supplemental cash flow and noncash information    
Cash paid for interest 174,121 180,226
Supplemental disclosure of noncash activities:    
Dividends payable $ 3,440 $ 2,191