Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 324,668 $ 454,601
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation and amortization 704,376 698,046
Unrealized gain on marketable equity securities (227,282) (175,442)
Amortization of loan procurement costs 100,534 21,218
Compensation expense related to stock-based awards 105,890 27,312
Changes in operating assets and liabilities:    
Accounts receivable (38,340) 15,136
Prepaid expenses and other assets (35,730) (29,880)
Accounts payable and accrued expenses 170,034 181,618
Net cash provided by operating activities 1,104,150 1,192,609
Cash flows from investing activities    
Construction (244,674) (48,893)
Improvements and equipment additions (21,877) (50,680)
Net cash used in investing activities (266,551) (99,573)
Cash flows from financing activities    
Principal payments on note payable (233,014)  
Dividends paid (1,000,475) (995,286)
Net cash used in financing activities (1,233,489) (995,286)
Net (decrease) increase in cash and cash equivalents (395,890) 97,750
Cash, cash equivalents, and restricted cash, beginning of period 1,712,266 2,256,415
Cash, cash equivalents, and restricted cash, end of period 1,316,376 2,354,165
Supplemental schedule of cash flow information    
Interest paid $ 413,181 $ 419,200