Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS and COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF OPERATIONS and COMPREHENSIVE INCOME - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Rental income $ 2,970,875 $ 2,608,664 $ 8,542,221 $ 7,402,570
Total revenues 3,086,412 2,730,518 8,886,141 7,747,227
Expenses        
Property operations 1,010,495 940,372 3,053,481 2,831,693
General and administrative 560,675 594,547 1,892,382 1,804,371
Depreciation and amortization 404,961 409,763 1,214,344 1,221,938
Business development 4,598 1,797 46,708 6,635
Total expenses 1,980,729 1,946,479 6,206,915 5,864,637
Operating income 1,105,683 784,039 2,679,226 1,882,590
Other income (expense)        
Dividend and interest income 46,846 19,533 92,894 56,396
Unrealized (loss) gain on marketable equity securities (59,512) 81,992 (889,885) 791,189
Interest expense (163,153) (256,502) (572,174) (828,567)
Gain on Paycheck Protection Program (PPP) loan forgiveness     307,210  
Total other income (expense), net (175,819) (154,977) (1,061,955) 19,018
Net income and comprehensive income $ 929,864 $ 629,062 $ 1,617,271 $ 1,901,608
Earnings per share        
Basic $ 0.08 $ 0.06 $ 0.15 $ 0.19
Diluted $ 0.08 $ 0.06 $ 0.15 $ 0.19
Weighted average shares outstanding        
Basic 10,924,646 10,601,521 10,785,362 9,757,458
Diluted 10,978,000 10,635,006 10,842,515 9,787,317
Other property related income        
Revenues        
Revenues $ 93,630 $ 102,428 $ 281,702 $ 288,249
Management fees and other income        
Revenues        
Revenues $ 21,907 $ 19,426 $ 62,218 $ 56,408