v3.26.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Net Cash (Used in) Provided by Operating Activities:    
Net Income $ 602,172 $ 4,066,358
Adjustments to Reconcile Net Income to:    
Unrealized (Gain) Loss on Mortgages Owned (2,115,977) 972,647
Unrealized Loss on Mortgage Secured Notes 15,519 29,541
Unrealized Loss (Gain) on Investment 27,605 (1,496)
Realized Gain on Foreclosure (5,557,032)
Realized Loss on Loans Held for Sale 4,417
Gain on cancellation of debt (9,000,000)
Loss on Foreclosures 9,000,000
Stock-Based Compensation 26,778
Depreciation 921,699 916,098
Amortization of loan costs 57,305 57,305
Deferred rent expense from operating lease (625) (10,479)
Deferred income taxes 214,400 1,338,164
Changes in Operating Assets and Liabilities:    
Mortgage Secured Notes Issued (1,600,000)
Restricted Investment 1,192,510
Portfolio Loans (1,535,667) (176,742)
Loans Held For Sale, at Fair Value (206,977) 312,712
Other Assets (1,095,337) (456,672)
Deferred Revenue, net 36,617 (320,703)
Escrow Payable (1,631,767) (5,468,549)
Other Liabilities and Payables 2,053,241 42,046,899
New Mortgage Lending (2,871,447)
Mortgage Loans Matured/Paid Off 15,986,170 (4,932,979)
Total Adjustments 11,126,206 27,100,972
NET CASH PROVIDED BY OPERATING ACTIVITIES 11,728,378 31,167,330
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (467,411) (85,378)
Disposals of property and equipment 9,015,164
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (467,411) 8,929,786
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of Series A/B preferred stock dividends (962,500) (962,500)
Warehouse Line of Credit “LOC” (11,678,358)
(Redemptions) Contributions to Fund (1,817,948) 507,843
NET CASH USED IN FINANCING ACTIVITIES (14,458,806) (454,657)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (3,197,839) 39,642,459
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – Beginning of Period 10,267,753 18,330,119
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – End of Period 7,069,914 57,972,578
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION    
Cash paid during the six months for interest 1,600,953 976,139
Federal 18,850 1,338,164
State 2,405
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Fair value of assets acquired in settlement in lieu of foreclosure 40,033,898
Land aquired through assumption of existing mortgage debt $ 10,769,605