v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (Loss) $ 13,916,648 $ (1,420,262)
Adjustments to reconcile consolidated net income (loss) to net cash flows from operating activities    
Depreciation 709,854 1,635,354
Amortization 109,593 263,149
Deferred income taxes (2,289,734)  
Loan cost amortization 18,135 58,359
Mandatorily redeemable preferred stock issuance cost and discount amortization   2,404
Amortization of lease incentives   1,236
Below market lease amortization, net (33,212) (91,941)
Bad debt expense 12,991 1,321
Share-based compensation 224,220 397,182
Loss on impairment 0 67,503
Loss on extinguishment of debt 372,340 27,066
Loss on redemption of mandatorily redeemable preferred stock   9,375
Impairment of assets held for sale 465,327  
Unrealized gain on marketable securities (300,492)  
Unrealized loss on crypto assets 132,015 1
Gain on disposal of investment property (12,785,020)  
DST sponsorship revenue recognized on deconsolidation (464,291)  
Changes in assets and liabilities    
Rent and other receivables 263,146 169,257
Unbilled rent (147,501) (69,264)
Other assets (300,077) (459,259)
Accounts payable and accrued liabilities (91,338) 112,618
Net cash flows from operating activities (187,396) 704,098
CASH FLOWS FROM INVESTING ACTIVITIES    
Sale of XXV DST interests 3,709,847  
Investment property acquisitions   (89,875)
Capital expenditures (359,197) (563,219)
Cash received from disposal of investment property, net 19,221,077  
Purchase of marketable securities (20,420,257)  
Purchase of crypto assets (241,077) (55,004)
Net cash flows from investing activities 1,910,393 (708,098)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends and distributions paid (924,408) (282,569)
Repayment of mortgages payable (352,408) (507,597)
Redemption of mandatorily redeemable preferred stock   (1,500,000)
Repurchases of common stock, including costs and fees   (140,788)
Proceeds from the sale of beneficial interests in DST entities, net of offering costs 2,847,522  
Net cash flows from financing activities 1,570,706 (2,430,954)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 3,293,703 (2,434,954)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 4,134,070 6,072,736
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period $ 7,427,773 $ 3,637,782