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, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net (loss) income $ (41,444) $ 573,901
Adjustments to reconcile net (loss) income to net cash provided by operating activities    
Depreciation and amortization 1,527,901 1,056,087
Unrealized gain on marketable equity securities (27,402) (355,102)
Amortization of loan procurement costs 149,946 150,708
Stock-based compensation 99,762 135,320
Changes in operating assets and liabilities:    
Accounts receivable 95,006 (34,479)
Prepaid expenses and other assets (275,825) (193,262)
Accounts payable and accrued expenses (310,392) 265,957
Net cash provided by operating activities 1,217,552 1,599,130
Cash flows from investing activities    
Construction (1,402,573) (424,382)
Improvements and equipment additions (194,787) (53,710)
Net cash used in investing activities (1,597,360) (478,092)
Cash flows from financing activities    
Principal payments on note payable (366,378) (351,362)
Line of credit borrowing 230,000 380,000
Dividends paid (1,819,845) (1,501,883)
Net cash used in financing activities (1,956,223) (1,473,245)
Net decrease in cash and cash equivalents (2,336,031) (352,207)
Cash, cash equivalents, and restricted cash, beginning of period 4,253,565 1,712,266
Cash, cash equivalents, and restricted cash, end of period 1,917,534 1,360,059
Supplemental schedule of cash flow information    
Interest paid $ 757,537 $ 618,344