Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Assets    
Real estate assets, net $ 60,173,297 $ 59,752,153
Cash and cash equivalents 3,069,696 3,990,160
Restricted cash 282,759 263,405
Investments in securities 1,570,907 1,761,312
Accounts receivable 108,655 164,078
Prepaid expenses and other assets 409,549 325,450
Line of credit issuance costs, net 272,037 311,869
Intangible assets, net 261,844 398,795
Goodwill 694,121 694,121
Total assets 66,842,865 67,661,343
Liabilities and equity    
Note payable, net 18,729,152 18,839,787
Line of credit borrowing 4,914,000 4,914,000
Accounts payable and accrued expenses 2,067,528 1,841,640
Total liabilities 25,710,680 25,595,427
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, 9,356,202 and 9,330,297 issued and outstanding at March 31, 2020 and December 31, 2019, respectively 93,562 93,303
Additional paid in capital 40,358,405 40,329,502
Retained earnings 680,218 1,643,111
Total equity 41,132,185 42,065,916
Total liabilities and equity $ 66,842,865 $ 67,661,343