v3.25.2
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS USED IN OPERATING ACTIVITIES        
Net loss $ (1,433,631) $ (1,014,800) $ (3,135,314) $ (2,955,537)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities        
Cash distributions received from investment in unconsolidated real estate ventures     6,900,000 6,900,000
Net loss from unconsolidated real estate venture 769,969 115,778 2,044,780 839,139
Amortization of restricted stock grants     11,099 229,370
Change in assets and liabilities        
Increase in due to affiliates     99,604 1,635,641
Increase in accounts payable, accrued liabilities & other liabilities     211,422 519,238
Net cash provided by (used in) operating activities     6,131,591 7,167,851
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from issuance of common stock       145,000
Cash distributions to non-controlling interest in consolidated real estate ventures     (2,108,695) (5,130,435)
Offering costs paid       (19,010)
Distributions to non-controlling interests (1,528,800) (951,600) (3,023,800) (951,600)
Net cash used in financing activities     (5,132,495) (5,956,849)
Net change in cash and cash equivalents     999,096 1,211,002
Cash and cash equivalents, beginning of period     9,070,558 6,916,335
Cash and cash equivalents, end of period $ 10,069,654 $ 8,127,337 10,069,654 8,127,337
Non-cash investing and financing activities:        
Accrued offering costs due to affiliates     $ (250,000) $ (64,177)