v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
ASSETS    
Land $ 4,512,075 $ 4,512,075
Greenhouse cultivation and processing facilities, net of accumulated depreciation 433,638 446,393
Net investment in direct financing lease - railroad 9,150,000 9,150,000
Total real estate assets 14,095,713 14,108,468
Cash and cash equivalents 3,147,494 2,235,306
Prepaid expenses and deposits 228,607 131,967
Intangible lease asset, net of accumulated amortization 1,935,701 2,049,445
Deferred rent receivable 107,388 328,293
Mortgage loan receivables 923,547 981,035
Assets held for sale 5,461,042 6,790,448
Other assets 264,779 298,813
TOTAL ASSETS 26,164,271 26,923,775
LIABILITIES AND EQUITY    
Accounts payable 268,469 216,768
Accrued expenses 81,325 130,155
Liabilities held for sale 1,472,333 1,466,537
Current portion of long-term debt, net of unamortized discount 780,933 759,821
Long-term debt, net of unamortized discount 18,872,726 19,213,071
TOTAL LIABILITIES 21,475,786 21,786,352
Equity:    
Series A 7.75% Cumulative Redeemable Perpetual Preferred Stock Par Value $25.00 (1,675,000 shares authorized; 336,944 issued and outstanding as of June 30, 2026 and December 31, 2025) 8,489,952 8,489,952
Common Shares, $0.001 par value (98,325,000 shares authorized; 367,120 and 366,149 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively) [1] 367 366
Additional paid-in capital [1] 48,539,635 48,530,850
Accumulated deficit (52,341,469) (51,883,745)
Total Equity 4,688,485 5,137,423
TOTAL LIABILITIES AND EQUITY $ 26,164,271 $ 26,923,775
[1] On June 2, 2026, the Trust effected a 1 for 10 reverse stock split. All share and per-share amounts in these financial statements have been retroactively adjusted to reflect the reverse stock split for all periods presented.