v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash Flows From Operating Activities:        
Net income (loss) $ 8,123,358 $ (308,027) $ 14,649,740 $ (963,996)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:        
Depreciation and amortization 229,471 362,742 562,682 725,762
Amortization of deferred loan costs and debt discount     234,467 8,368
Provision for credit losses 363,538 136,348 383,895 235,956
Gain on sale of an asset (10,150,510) (19,046,819)
Changes in operating assets and liabilities:        
Accounts and rents receivable     468,585 (661,404)
Prepaid expenses and other assets     (448,919) (168,397)
Accounts payable and accrued liabilities     (411,037) 1,375,843
Lease security deposits     7,000 5,900
Other current liabilities     (725,000) 400,000
Cash (used in) provided by operating activities     (4,325,406) 958,032
Cash flows from investing activities:        
Proceeds from sale of assets held for sale, net     14,131,043
Cash paid for property and equipment     (408,798) (382,755)
Cash provided by (used in) investing activities     13,722,245 (382,755)
Cash Flows from financing activities:        
Proceeds from debt, non-related party     50,000
Payments on debt, related party     (775,000)
Payments on debt, non-related party     (2,165,788) (593,863)
Proceeds from line of credit     13,258
Payment on line of credit     (325,192) (104,715)
Repurchase of preferred stock     (50,000)
Cash used in financing activities     (3,315,980) (635,320)
Net increase (decrease) in cash, cash equivalents and restricted cash     6,080,859 (60,043)
Cash, cash equivalents and restricted cash at beginning of the period     1,853,693 1,391,966
Cash, cash equivalents and restricted cash at end of the period 7,934,552 1,331,923 7,934,552 1,331,923
Supplemental Disclosure of Cash Flow Information        
Cash paid for interest     650,007 844,770
Cash and cash equivalents 7,733,684 559,983 7,733,684 559,983
Restricted cash 200,868 771,940 200,868 771,940
Total Cash, Cash Equivalents and Restricted Cash $ 7,934,552 $ 1,331,923 7,934,552 1,331,923
Supplemental Schedule of Non-Cash Investing and Financing Activities        
Dividends declared on Series D Preferred Stock     15,000 22,500
Assumption of debt related party from a non-related party     25,000
Payoff of mortgages funded at closing     10,969,967
Escrow receivable funded at closing     2,880,000
Closing costs, prepayment penalties and other adjustments funded at closing     $ 893,990