Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 573,901 $ 543,969
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation and amortization 1,056,087 1,047,553
Unrealized gain on marketable equity securities (355,102) 4,579
Amortization of loan procurement costs 150,708 31,806
Stock-based compensation 135,320 54,041
Changes in operating assets and liabilities:    
Accounts receivable (34,479) 6,823
Prepaid expenses and other assets (193,262) (186,005)
Accounts payable and accrued expenses 265,957 (33,524)
Net cash provided by operating activities 1,599,130 1,469,242
Cash flows from investing activities    
Construction (424,382) (74,808)
Improvements and equipment additions (53,710) (36,342)
Net cash used in investing activities (478,092) (111,150)
Cash flows from financing activities    
Principal payments on note payable (351,362) (75,797)
Line of credit borrowing 380,000  
Dividends paid (1,501,883) (1,493,354)
Net cash used in financing activities (1,473,245) (1,569,151)
Net decrease in cash and cash equivalents (352,207) (211,059)
Cash, cash equivalents, and restricted cash, beginning of period 1,712,266 2,256,415
Cash, cash equivalents, and restricted cash, end of period 1,360,059 2,045,356
Supplemental schedule of cash flow information    
Interest paid $ 618,344 $ 628,403