v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:        
Net loss $ (3,292,562) $ (2,670,705) $ (7,590,099) $ (23,103,864)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:        
Depreciation and amortization 1,897,679 2,455,796 4,862,267 5,515,518
Stock compensation 383,530 544,376 1,138,585 1,379,080
Bad debt expense 10,433    
Gain on sale of real estate assets, net (150,099) (4,777,327) (5,444,792) (3,426,572)
Employee Bonuses paid with CDT stock     172,421
Gain on disposition of assets and liabilities, net (3,416,501)    
Net loss in Conduit Pharmaceuticals fair value marketable securities (7,728) 184,459 188,287 17,925,723
Net loss (gain) in fair value marketable securities     560
Impairment of goodwill and real estate assets 3,502,523 4,344,332 6,443,437 1,969,311
Amortization of financing costs 111,195 137,749 281,245 351,291
Amortization of below-market leases (2,487) (2,266) (4,753) (4,641)
Straight-line rent adjustment 5,100 (27,948) 261,483 (152,722)
Changes in operating assets and liabilities:        
Other assets (28,165) 36,322 355,913 82,575
Deferred tax asset     75,257 48,117
Accounts payable and accrued liabilities 1,146,771 (411,908) 186,636 (1,001,301)
Deferred leasing costs (93,626) 14,052 (148,148) (502,946)
Accrued real estate taxes (41,224) (839,159) (187,448) 19,390
Net cash provided by (used in) operating activities 24,839 (1,012,227) 417,870 (728,060)
Cash flows from investing activities:        
Real estate acquisitions (9,444,465) (9,444,465) (9,729,351)
Additions to buildings and tenant improvements (459,117) (741,071) (2,703,012) (2,273,726)
Investment in marketable securities     (2,362)
Proceeds from sale of marketable securities 13,990 13,990 105,206
Proceeds from sales of real estate, net 8,749,479 21,544,343 25,625,377 24,767,052
Net cash provided by investing activities 8,290,362 11,372,797 13,491,890 12,866,819
Cash flows from financing activities:        
Proceeds from mortgage notes payable, net of issuance costs 6,592,396 18,942,396 22,272,291
Payment of debt issuance costs (247,882) (424,002) (335,724)
Repayment of mortgage notes payable (9,270,409) (14,014,678) (28,862,783) (27,897,127)
Payment of deferred offering costs (49,652) (343,514)
Distributions to noncontrolling interests (324,687) (433,804) (1,277,913) (3,629,964)
Contributions from noncontrolling interests     200,000
Issuance of Series A Common Stock, net of offering costs     1,667,120
Issuance of Series D Preferred Stock, net of offering costs     1,195,855
Repurchase of Series A Common Stock, at cost (1,526,551) (1,585,091) (140,416)
Repurchase of Series D Preferred Stock, at cost (327,787) (344,503) (40,910)
Dividends paid to Series D Preferred Stockholders (190,220) (1,153,671) (2,295,607) (2,236,696)
Net cash used in financing activities (9,834,968) (11,111,977) (14,523,897) (10,612,691)
Net (decrease) increase in cash equivalents and restricted cash (1,519,767) (751,407) (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 5,902,592 7,285,089 7,422,359 8,036,496
Supplemental disclosure of cash flow information:        
Interest paid-mortgage notes payable 3,222,606 2,998,056 5,906,234 5,371,017
Income taxes paid 57,000 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)
Private warrants from Conduit Pharmaceuticals     642,600
Paid deferred offering costs from prior year 6,589    
Non-cash financing activities:        
Unpaid building and tenant improvements 281,404 176,307 361,261 207,847
Dividends payable - Preferred Stock Series D $ 190,393 190,220 194,784
Unpaid deferred offering costs     6,589
Payment of accrued bonus to ex-CFO with CDT stock     124,357
Distribution of CDT stock to employees     $ 172,421