v3.26.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS USED IN OPERATING ACTIVITIES    
Net loss $ (4,604,086) $ (5,254,430)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Cash distributions received from investment in unconsolidated real estate ventures 13,800,000 13,800,000
Net loss from unconsolidated real estate venture 2,497,452 2,300,196
Amortization of restricted stock grants 22,577 276,449
Change in assets and liabilities    
Increase in due to affiliates 158,924 1,675,241
Increase in accounts payable, accrued liabilities & other liabilities (243,805) 939,349
Net cash provided by (used in) operating activities 11,631,062 13,736,805
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock   20,000
Proceeds from issuance of preferred stock   125,000
Offering costs paid   (19,010)
Distributions to non-controlling interest in consolidated joint ventures (5,900,609) (7,902,172)
Distributions to non-controlling interests in Operating Partnership (6,081,400) (3,806,400)
Net cash (used in) provided by financing activities (11,982,009) (11,582,582)
Net change in cash and cash equivalents (350,947) 2,154,223
Cash and cash equivalents, beginning of period 9,070,558 6,916,335
Cash and cash equivalents, end of period 8,719,611 9,070,558
Non-cash investing and financing activities:    
Accrued offering costs due to affiliates $ (250,000) $ 504,525