v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 558,794 $ 2,376,915
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 998,969 1,244,104
Stock compensation 191,634 229,502
Bad debt expense 73,000 0
Gain on sale of real estate assets, net (172,096) (4,453,968)
Gain on disposition of assets and liabilities, net (3,416,501) 0
Impairment of goodwill and real estate assets 524,373 26,943
Amortization of financing costs 53,987 68,923
Amortization of below-market leases (1,243) (1,022)
Straight-line rent adjustment 2,479 (84,822)
Changes in operating assets and liabilities:    
Other assets 88,369 567,686
Accounts payable and accrued liabilities 656,426 532,895
Deferred leasing costs (72,834) 99,752
Accrued real estate taxes (440,575) (902,471)
Net cash used in operating activities (957,203) (118,905)
Cash flows from investing activities:    
Real estate acquisitions 0 (4,270,192)
Additions to buildings and tenant improvements (165,817) (568,555)
Proceeds from sales of real estate, net 7,052,033 18,391,811
Net cash provided by investing activities 6,886,216 13,553,064
Cash flows from financing activities:    
Proceeds from mortgage notes payable, net of issuance costs 0 2,979,052
Payment of debt issuance costs 0 (61,914)
Repayment of mortgage notes payable (7,721,564) (11,379,734)
Payment of deferred offering costs (13,833) (60,000)
Distributions to noncontrolling interests (253,852) (216,659)
Dividends paid to Series D Preferred Stockholders (190,220) (579,575)
Net cash used in financing activities (8,179,469) (9,513,802)
Net (decrease) increase in cash equivalents and restricted cash (2,250,456) 3,920,357
Cash, cash equivalents and restricted cash - beginning of period 7,422,359 8,036,496
Cash, cash equivalents and restricted cash - end of period 5,171,903 11,956,853
Supplemental disclosure of cash flow information:    
Income taxes paid 78,848 46,511
Non-cash investing activities:    
Paid building and tenant improvements from prior year (361,261) (207,847)
Paid deferred offering costs from prior year 6,589 0
Non-cash financing activities:    
Unpaid deferred offering costs 820 0
Unpaid building and tenant improvements 262,251 0
Dividends payable - Series D Preferred Stock 0 192,232
Mortgage Notes [Member]    
Supplemental disclosure of cash flow information:    
Interest paid-mortgage notes payable 2,108,796 1,335,280
Series D Preferred Stock [Member]    
Cash flows from financing activities:    
Repurchase of Series D Preferred Stock, at cost 0 (194,972)
Conduit Pharmaceuticals Inc [Member]    
Adjustments to reconcile net income to net cash used in operating activities:    
Net (gain) loss in Conduit Pharmaceuticals fair value marketable securities $ (1,985) $ 176,658