v3.26.1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (unaudited) - USD ($)
Total
Member's Equity
Common Stock
Additional Paid-In Capital
Accumulated Earnings (Deficit)
Beginning balance at Dec. 31, 2024 $ 114,137,747 $ 0 $ 70,047 $ 115,022,034 $ (954,334)
Beginning balance (in shares) at Dec. 31, 2024     7,004,676    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Dividends declared on common shares (4,026,448)        
Ending balance at Mar. 31, 2025 184,808,098   $ 134,215 186,555,228 (1,881,345)
Ending balance (in shares) at Mar. 31, 2025     13,421,494    
Beginning balance at Dec. 31, 2024 114,137,747 0 $ 70,047 115,022,034 (954,334)
Beginning balance (in shares) at Dec. 31, 2024     7,004,676    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock, net of offering costs (in shares)     6,400,000    
Issuance of common stock, net of offering costs 71,277,217   $ 64,000 71,213,217  
Stock-based compensation, net of forfeitures (in shares)     16,500    
Stock-based compensation, net of forfeitures 502,687   $ 165 502,522  
Dividends declared on common shares (8,052,801)       (8,052,801)
Net income 6,457,751       6,457,751
Ending balance at Jun. 30, 2025 184,322,601 0 $ 134,212 186,737,773 (2,549,384)
Ending balance (in shares) at Jun. 30, 2025     13,421,176    
Beginning balance at Mar. 31, 2025 184,808,098   $ 134,215 186,555,228 (1,881,345)
Beginning balance (in shares) at Mar. 31, 2025     13,421,494    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock, net of offering costs (76,524)     (76,524)  
Stock-based compensation, net of forfeitures (in shares)     (318)    
Stock-based compensation, net of forfeitures 259,066   $ (3) 259,069  
Dividends declared on common shares (4,026,353)       (4,026,353)
Net income 3,358,314       3,358,314
Ending balance at Jun. 30, 2025 184,322,601 0 $ 134,212 186,737,773 (2,549,384)
Ending balance (in shares) at Jun. 30, 2025     13,421,176    
Beginning balance at Dec. 31, 2025 $ 181,962,381 0 $ 134,210 186,745,489 (4,917,318)
Beginning balance (in shares) at Dec. 31, 2025 13,420,986   13,420,986    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Dividends declared on common shares $ (4,055,897)        
Ending balance at Mar. 31, 2026 182,529,796   $ 135,197 187,114,464 (4,719,865)
Ending balance (in shares) at Mar. 31, 2026     13,519,655    
Beginning balance at Dec. 31, 2025 $ 181,962,381 0 $ 134,210 186,745,489 (4,917,318)
Beginning balance (in shares) at Dec. 31, 2025 13,420,986   13,420,986    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock, net of offering costs (in shares)     0    
Issuance of common stock, net of offering costs $ 0   $ 0 0  
Stock-based compensation, net of forfeitures (in shares)     96,416    
Stock-based compensation, net of forfeitures 667,446   $ 964 666,482  
Dividends declared on common shares (8,111,117)       (8,111,117)
Net income 7,329,375       7,329,375
Ending balance at Jun. 30, 2026 $ 181,848,085 0 $ 135,174 187,411,971 (5,699,060)
Ending balance (in shares) at Jun. 30, 2026 13,517,402   13,517,402    
Beginning balance at Mar. 31, 2026 $ 182,529,796   $ 135,197 187,114,464 (4,719,865)
Beginning balance (in shares) at Mar. 31, 2026     13,519,655    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock-based compensation, net of forfeitures (in shares)     (2,253)    
Stock-based compensation, net of forfeitures 297,484   $ (23) 297,507  
Dividends declared on common shares (4,055,220)       (4,055,220)
Net income 3,076,025       3,076,025
Ending balance at Jun. 30, 2026 $ 181,848,085 $ 0 $ 135,174 $ 187,411,971 $ (5,699,060)
Ending balance (in shares) at Jun. 30, 2026 13,517,402   13,517,402