Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities    
Net income (loss) $ 619,448 $ (146,290)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 1,398,358 1,699,555
Unrealized gain on marketable equity securities (15,517)  
Amortization of loan procurement costs 49,118 42,434
Compensation expense related to stock-based awards 80,771  
Changes in operating assets and liabilities:    
Accounts receivable 35,685 54,318
Prepaid expenses and other assets (41,937) 43,215
Accounts payable and accrued expenses 155,323 231,461
Net cash provided by operating activities 2,281,249 1,924,693
Cash flows from investing activities    
Construction (70,703) (393,832)
Improvements and equipment additions (93,829) (259,078)
Net cash used in investing activities (164,532) (652,910)
Cash flows from financing activities    
Line of credit issuance costs (477,981)  
Principal payments on note payable (190,488)  
Dividends paid (1,992,397) (1,981,062)
Net cash used in financing activities (2,660,866) (1,981,062)
Net decrease in cash and cash equivalents (544,149) (709,279)
Cash, cash equivalents, and restricted cash, beginning of period 2,256,415 2,965,694
Cash, cash equivalents, and restricted cash, end of period 1,712,266 2,256,415
Supplemental schedule of cash flow information    
Interest paid $ 837,074 $ 838,400