Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revenues    
Rental income $ 8,371,292 $ 7,850,870
Total revenues 8,668,322 8,110,979
Expenses    
Property operations 3,577,358 3,262,603
General and administrative 2,126,804 1,826,446
Depreciation and amortization 1,438,908 1,398,358
Business development 124,428 198,000
Total expenses 7,267,498 6,685,407
Operating income 1,400,824 1,425,572
Other income (expense)    
Dividend and interest income 71,666 76,296
Unrealized gain on marketable equity securities 193,705 15,517
Interest expense (1,075,576) (897,937)
Total other income (expense), net (810,205) (806,124)
Net income and comprehensive income $ 590,619 $ 619,448
Earnings per share    
Basic $ 0.08 $ 0.08
Diluted $ 0.08 $ 0.08
Weighted average shares outstanding    
Basic 7,699,966 7,622,287
Diluted 7,702,117 7,624,122
Other property related income    
Revenues    
Revenues $ 283,570 $ 260,109
Management fees and other income    
Revenues    
Revenues $ 13,460