v3.25.2
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Interest income $ 1,853,330 $ 1,766,342 $ 3,733,213 $ 3,930,618
Dividend and other income 10,494 10,494 20,994 26,826
Revenues 1,863,824 1,776,836 3,754,207 3,957,444
Operating expenses        
Asset management and asset servicing fees paid/payable to Terra REIT [1] 203,852 277,621 407,919 667,679
Operating expense reimbursement to Terra REIT [1] 129,656 320,214 306,094 702,508
Provision for credit losses 843,748 226,279 1,613,684 1,050,627
Professional fees 148,066 158,625 292,640 328,327
Insurance expense 21,072 21,072 42,144 42,144
General and administrative 4,785 11,303 32,803 47,541
Operating expenses 1,351,179 1,015,114 2,695,284 2,838,826
Operating income 512,645 761,722 1,058,923 1,118,618
Loss from equity interest in unconsolidated investments (760,495) (963,371) (1,568,448) (2,150,550)
Interest expense on unsecured notes payable (1,031,798) (993,934) (2,053,733) (1,979,040)
Interest expense on term loan 0 0 0 (517,528)
Interest expense from obligation under participation agreement (950,121) (783,042) (1,941,749) (1,508,995)
Other income and expenses (2,742,414) (2,740,347) (5,563,930) (6,156,113)
Net loss (2,229,769) (1,978,625) (4,505,007) (5,037,495)
Other comprehensive income (loss)        
Unrealized gain (loss) on available-for-sale debt securities 36,379 139,724 100,742 (8,563)
Other comprehensive income: 36,379 139,724 100,742 (8,563)
Comprehensive loss $ (2,193,390) $ (1,838,901) $ (4,404,265) $ (5,046,058)
[1] Fees were paid and payable, and expenses were reimbursed, to Terra Property Trust, Inc. (“Terra REIT”) pursuant to a cost sharing agreement with Terra REIT (Note 6).