Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenues    
Rental income $ 7,850,870 $ 7,238,819
Other property related income 260,109 233,974
Total revenues 8,110,979 7,472,793
Expenses    
Property operations 3,262,603 3,153,887
General and administrative 1,826,446 1,927,585
Depreciation and amortization 1,398,358 1,699,555
Business development 198,000 14,295
Total expenses 6,685,407 6,795,322
Operating income 1,425,572 677,471
Other income (expense)    
Dividend and interest income 76,296 57,073
Unrealized gain on marketable equity securities 15,517  
Interest expense (897,937) (880,834)
Total other income (expense), net (806,124) (823,761)
Net income (loss) $ 619,448 $ (146,290)
Earnings per share    
Basic $ 0.08 $ (0.02)
Diluted $ 0.08 $ (0.02)
Weighted average shares outstanding    
Basic 7,622,287 7,619,469
Diluted 7,624,122 7,619,469