v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities:    
Net loss $ (1,810,747) $ (933,641)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 954,594 1,091,161
Amortization of deferred financing costs and debt discount as interest 64,364 29,539
Amortization of key money loans (13,375) (13,375)
Changes in operating assets and liabilities:    
Accounts receivable 26,047 (119,214)
Prepaid expenses and other assets 295,151 66,231
Accounts payable, accrued expenses and other 611,426 34,187
Due to related parties (64,701) (37,531)
Net cash provided by operating activities 62,759 117,357
Cash Flow from Investing Activities:    
Capital improvements (169,238) (418,064)
Cash used in investing activities (169,238) (418,064)
Cash Flows from Financing Activities:    
Payments of mortgage notes principal (71,562) (146,736)
Distributions to stockholders (755,987) (747,769)
Distributions to noncontrolling interest   (294,000)
Repurchase of common stock (205,820) (204,863)
Net cash used in financing activities (1,033,369) (1,393,368)
Decrease in cash and cash equivalents and restricted cash (1,139,848) (1,694,075)
Cash and cash equivalents and restricted cash, beginning of period 10,862,958 11,061,557
Cash and cash equivalents and restricted cash, end of period $ 9,723,110 $ 9,367,482