Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Assets    
Real estate assets, net $ 54,447,090 $ 55,045,563
Cash and cash equivalents 2,206,687 2,147,460
Restricted cash 147,478 108,955
Marketable equity securities 1,727,532 1,552,090
Accounts receivable 88,153 103,289
Prepaid expenses and other assets 251,710 221,830
Goodwill 694,121 694,121
Total assets 59,562,771 59,873,308
Liabilities and equity    
Note payable 19,438,623 19,417,405
Accounts payable and accrued expenses 2,136,537 1,954,919
Total liabilities 21,575,160 21,372,324
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, 7,692,624 and 7,619,469 issued and outstanding at June 30, 2018 and December 31, 2017, respectively 76,926 76,195
Additional paid in capital 33,908,444 33,881,863
Accumulated other comprehensive income   796,603
Retained earnings 4,002,241 3,746,323
Total equity 37,987,611 38,500,984
Total liabilities and equity $ 59,562,771 $ 59,873,308