Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Assets    
Real estate assets, net $ 59,752,153 $ 53,811,737
Cash and cash equivalents 3,990,160 1,526,203
Restricted cash 263,405 186,063
Investments in securities 1,761,312 1,567,607
Accounts receivable 164,078 67,604
Prepaid expenses and other assets 325,450 263,767
Line of credit issuance costs, net 311,869 471,196
Intangible assets, net 398,795  
Goodwill 694,121 694,121
Total assets 67,661,343 58,588,298
Liabilities and equity    
Note payable, net 18,839,787 19,269,250
Line of credit borrowing 4,914,000  
Accounts payable and accrued expenses 1,841,640 2,113,172
Total liabilities 25,595,427 21,382,422
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, 9,330,297 and 7,692,624 issued and outstanding at December 31, 2019 and 2018, respectively 93,303 76,926
Additional paid in capital 40,329,502 33,961,903
Retained earnings 1,643,111 3,167,047
Total equity 42,065,916 37,205,876
Total liabilities and equity $ 67,661,343 $ 58,588,298