Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Assets    
Real estate assets, net $ 60,165,282 $ 59,752,153
Cash and cash equivalents 1,596,158 3,990,160
Restricted cash 321,376 263,405
Investments in securities 1,788,714 1,761,312
Accounts receivable 69,072 164,078
Prepaid expenses and other assets 601,275 325,450
Line of credit issuance costs, net 192,374 311,869
Intangible assets, net 55,125 398,795
Goodwill 694,121 694,121
Total assets 65,483,497 67,661,343
Liabilities and equity    
Note payable, net 18,503,860 18,839,787
Line of credit borrowing 5,144,000 4,914,000
Accounts payable and accrued expenses 1,534,179 1,841,640
Total liabilities 25,182,039 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 September 30, 2020 and December 31, 2019, respectively 93,562 93,303
Additional paid in capital 40,429,005 40,329,502
Retained earnings (221,109) 1,643,111
Total equity 40,301,458 42,065,916
Total liabilities and equity $ 65,483,497 $ 67,661,343