v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:        
Net loss $ 558,794 $ 2,376,915 $ (7,590,099) $ (23,103,864)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:        
Depreciation and amortization 998,969 1,244,104 4,862,267 5,515,518
Stock compensation 191,634 229,502 1,138,585 1,379,080
Bad debt expense 73,000    
Gain on sale of real estate assets, net (172,096) (4,453,968) (5,444,792) (3,426,572)
Gain on disposition of assets and liabilities, net (3,416,501)    
Net loss in Conduit Pharmaceuticals fair value marketable securities     188,287 17,925,723
Net loss (gain) in fair value marketable securities     560
Net (gain) loss in Conduit Pharmaceuticals fair value marketable securities (1,985) 176,658    
Impairment of goodwill and real estate assets 524,373 26,943 6,443,437 1,969,311
Employee Bonuses paid with CDT stock     172,421
Amortization of financing costs 53,987 68,923 281,245 351,291
Amortization of below-market leases (1,243) (1,022) (4,753) (4,641)
Straight-line rent adjustment 2,479 (84,822) 261,483 (152,722)
Changes in operating assets and liabilities:        
Other assets 88,369 567,686 355,913 82,575
Deferred tax asset     75,257 48,117
Accounts payable and accrued liabilities 656,426 532,895 186,636 (1,001,301)
Deferred leasing costs (72,834) 99,752 (148,148) (502,946)
Accrued real estate taxes (440,575) (902,471) (187,448) 19,390
Net cash provided by (used in) operating activities (957,203) (118,905) 417,870 (728,060)
Cash flows from investing activities:        
Real estate acquisitions (4,270,192) (9,444,465) (9,729,351)
Additions to buildings and tenant improvements (165,817) (568,555) (2,703,012) (2,273,726)
Investment in marketable securities     (2,362)
Proceeds from sale of marketable securities     13,990 105,206
Proceeds from sales of real estate, net 7,052,033 18,391,811 25,625,377 24,767,052
Net cash provided by investing activities 6,886,216 13,553,064 13,491,890 12,866,819
Cash flows from financing activities:        
Proceeds from mortgage notes payable, net of issuance costs 2,979,052 18,942,396 22,272,291
Payment of debt issuance costs (61,914) (424,002) (335,724)
Repayment of mortgage notes payable (7,721,564) (11,379,734) (28,862,783) (27,897,127)
Payment of deferred offering costs (13,833) (60,000) (343,514)
Distributions to noncontrolling interests (253,852) (216,659) (1,277,913) (3,629,964)
Contributions from noncontrolling interests     200,000
Repurchase of Series D Preferred Stock, at cost (194,972) (344,503) (40,910)
Dividends paid to Series D Preferred Stockholders (190,220) (579,575) (2,295,607) (2,236,696)
Net cash used in financing activities (8,179,469) (9,513,802) (14,523,897) (10,612,691)
Net (decrease) increase in cash equivalents and restricted cash (2,250,456) 3,920,357 (614,137) 1,526,068
Cash, cash equivalents and restricted cash - beginning of period 7,422,359 8,036,496 8,036,496 6,510,428
Cash, cash equivalents and restricted cash - end of period 5,171,903 11,956,853 7,422,359 8,036,496
Supplemental disclosure of cash flow information:        
Interest paid-mortgage notes payable 2,108,796 1,335,280 5,906,234 5,371,017
Income taxes paid 78,848 46,511 78,848 46,511
Non-cash investing activities:        
Paid building and tenant improvements from prior year (361,261) (207,847) (207,847) (295,567)
Paid deferred offering costs from prior year 6,589    
Private warrants from Conduit Pharmaceuticals     642,600
Non-cash financing activities:        
Unpaid deferred offering costs 820 6,589
Unpaid building and tenant improvements 262,251 361,261 207,847
Dividends payable - Preferred Stock Series D $ 192,232 190,220 194,784
Payment of accrued bonus to ex-CFO with CDT stock     124,357
Distribution of CDT stock to employees     172,421
Common Class A [Member]        
Cash flows from financing activities:        
Issuance of Stock, net of offering costs     1,667,120
Repurchase of Series A Common Stock, at cost     (1,585,091) (140,416)
Series D Preferred Stock [Member]        
Cash flows from financing activities:        
Issuance of Stock, net of offering costs     $ 1,195,855