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 Income (Loss) $ 14,122,769 $ (1,026,884)
Adjustments to reconcile consolidated net income (loss) to net cash flows from operating activities    
Depreciation 416,967 828,196
Amortization 71,803 137,015
Deferred income taxes (2,508,679)  
Loan cost amortization 11,179 29,180
Mandatorily redeemable preferred stock issuance cost and discount amortization   2,404
Amortization of lease incentives   742
Above (below) market lease amortization, net (19,714) (50,785)
Bad debt expense   1,321
Share-based compensation 224,220 397,182
Loss on impairment 0 61,803
Loss on extinguishment of debt 372,340  
Loss on redemption of mandatorily redeemable preferred stock   9,375
Unrealized gain on marketable securities (230,865) (230,865)
Unrealized loss on crypto assets 71,627  
Gain on disposal of investment property (12,850,227)  
Changes in assets and liabilities    
Rent and other receivables 64,094 79,883
Unbilled rent (35,991) (62,764)
Other assets (271,908) 29,685
Accounts payable and accrued liabilities 54,032 23,619
Net cash flows from operating activities (508,353) 459,972
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment property acquisitions   (89,875)
Capital expenditures (119,743) (137,589)
Cash received from disposal of investment property, net 17,159,761  
Purchase of marketable securities (12,185,803)  
Purchase of crypto assets (201,077)  
Net cash flows from investing activities 4,653,138 (227,464)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends and distributions paid (721,177) (123,459)
Repayment of mortgages payable (228,725) (274,737)
Redemption of mandatorily redeemable preferred stock   (1,500,000)
Offering costs paid related to DST offering   (62,215)
Repurchases of common stock, including costs and fees   (106,624)
Proceeds from the sale of beneficial interests in DST entities, net of offering costs 2,106,312  
Net cash flows from financing activities 1,156,410 (2,067,035)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 5,301,195 (1,834,527)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 4,134,070 6,072,736
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period $ 9,435,265 $ 4,238,209