Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|||
| INCOME | ||||||
| Lease income from direct financing lease – railroad | $ 228,750 | $ 228,750 | $ 457,500 | $ 457,500 | ||
| Rental income | 222,279 | 236,139 | 437,958 | 446,918 | ||
| Other income | 838,722 | 41,894 | 874,729 | 88,159 | ||
| TOTAL INCOME | 1,289,751 | 506,783 | 1,770,187 | 992,577 | ||
| EXPENSES | ||||||
| Amortization of intangible assets | 56,872 | 56,872 | 113,744 | 113,744 | ||
| General and administrative | 240,687 | 341,373 | 446,748 | 668,301 | ||
| Property expenses and taxes | 79,655 | 250,202 | 162,095 | 734,628 | ||
| Depreciation expense | 6,377 | 20,283 | 17,243 | 22,985 | ||
| Impairment expense | 118,764 | 13,600 | 366,117 | 13,600 | ||
| Interest expense | 239,810 | 571,769 | 481,659 | 1,570,677 | ||
| TOTAL EXPENSES | 742,165 | 1,254,099 | 1,587,606 | 3,123,935 | ||
| OTHER INCOME/(EXPENSE) | ||||||
| Loss on sale of properties | (110,473) | (7,628) | (604,363) | (7,628) | ||
| Gain on extinguishment of debt | 1,092,670 | 1,092,670 | ||||
| Unrealized loss on marketable securities | (1,565) | (16,813) | (35,942) | (45,883) | ||
| TOTAL OTHER INCOME/(EXPENSE) | (112,038) | 1,068,229 | (640,305) | 1,039,159 | ||
| NET INCOME/(LOSS) | 435,548 | 320,913 | (457,724) | (1,092,199) | ||
| Preferred Stock Dividends | (163,207) | (163,207) | (326,414) | (326,414) | ||
| NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ 272,341 | $ 157,706 | $ (784,138) | $ (1,418,613) | ||
| Income/(Loss) Per Common Share: | ||||||
| Basic | [1] | $ 0.74 | $ 0.47 | $ (2.14) | $ (4.19) | |
| Diluted | [1] | $ 0.74 | $ 0.47 | $ (2.14) | $ (4.19) | |
| Weighted Average Number of Shares Outstanding: | ||||||
| Basic | [1] | 367,174 | 338,966 | 367,174 | 338,966 | |
| Diluted | [1] | 367,174 | 338,966 | 367,174 | 338,966 | |
| Cash dividend per Series A Preferred Share: | ||||||
| Accumulated undeclared dividend per Series A Preferred Shares: | $ 0.48 | $ 0.48 | $ 0.97 | $ 0.97 | ||
| ||||||
| X | ||||||||||
- Definition Marketable securities unrealized loss. No definition available.
|
| X | ||||||||||
- Definition Rental income. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization expense for finite-lived intangible asset. Excludes goodwill and capitalized cost for software to be sold, leased, or marketed. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of impairment loss for asset. Includes, but is not limited to, tangible and intangible assets and goodwill. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The costs incurred to retain exploration and property rights after acquisition but before production has occurred. Costs include legal costs for title defense, ad valorem taxes on nonproducing mineral properties, shut-in royalties, and delay rentals. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of direct financing lease income from variable lease payments paid and payable to lessor, excluding amount included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of oil and gas property or timber property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of preferred stock outstanding. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Aggregate dividends declared during the period for each share of preferred stock outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|