Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Assets    
Real estate assets, net $ 59,404,953 $ 59,768,533
Cash and cash equivalents 1,496,071 1,614,771
Restricted cash 359,963 340,672
Investments in securities 2,131,187 1,916,451
Accounts receivable 78,519 106,521
Prepaid expenses and other assets 441,896 351,764
Line of credit issuance costs, net 112,711 152,542
Goodwill 694,121 694,121
Total assets 64,719,421 64,945,375
Liabilities and equity    
Note payable, net 18,273,114 18,389,176
Line of credit borrowing 5,144,000 5,144,000
Accounts payable and accrued expenses 1,427,766 1,373,308
Total liabilities 24,844,880 24,906,484
Commitments and contingencies
Equity    
Preferred stock, $0.01 par value: 50,000,000 shares authorized, no shares outstanding
Common stock, $0.01 par value: 450,000,000 shares authorized, 9,406,593 and 9,343,118 issued and outstanding at March 31, 2021 and December 31, 2020, respectively 94,066 93,431
Additional paid in capital 40,486,480 40,455,409
Accumulated deficit (706,005) (509,949)
Total equity 39,874,541 40,038,891
Total liabilities and equity $ 64,719,421 $ 64,945,375