v3.22.2.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
CASHFLOWS FROM OPERATING ACTIVITIES          
Net income (loss) $ (512,117) $ 655,828 $ (1,874,327) $ 16,460  
Adjustments to reconcile net loss to cash used in operating activities          
Depreciation     1,161,214 833,291  
Amortization of acquired lease intangible assets     389,865 331,547  
Amortization of debt issuance costs     89,364 94,600  
Amortization of below market leases     (76,069) (115,921)  
Amortization of above market ground lease     (409) 0  
Common stock issued for services     0 33,000  
Restricted stock unit compensation     328,913 153,636  
Non-cash ground lease expense     50,359 0  
Income on investment in tenancy-in-common     (23,841) (4,750)  
Gain on sale of property     0 (923,178)  
Dead deal expense     153,031 0  
Loss on debt extinguishment 0 0 144,029 0  
Write-off of deferred financing cost     137,522 0  
Changes in operating assets and liabilities:          
Accounts receivable     26,711 (29,314)  
Other assets     (74,607) (30,275)  
Deferred rent asset     (115,341) (18,773)  
Prepaid expenses     (141,976) (86,487)  
Accounts payable     (96,955) 38,176  
Accrued expenses     251,263 (116,544)  
Right of use liability     (1,102) 0  
Deferred rent liability     (51,927) (2,790)  
Net cash provided by operating activities     275,717 172,678  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of land, buildings, other tangible and intangible assets     (12,848,166) (3,530,809)  
Escrows for purchase of properties     25,000 0  
Investment in tenancy-in-common     (455,888) (712,587)  
Proceeds from sale of property     0 5,245,858  
Net cash used in or provided by investing activities     (13,279,054) 1,002,462  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuance of common stock and warrants     0 14,379,505  
Proceeds from issuance of redeemable interest     1,109,570 2,100,000  
Redemption of redeemable non-controlling interests     (731,652) (1,200,000)  
Mortgage loan repayments - related party     0 (1,100,000)  
Mortgage loan borrowings     17,650,000 2,125,000  
Mortgage loan repayments     (11,157,906) (3,771,333)  
Stock issuance costs     (6,091) 0  
Deferred financing costs     (204,289) 0  
Debt issuance costs     (330,177) (39,991)  
Insurance financing borrowings     288,693 277,059  
Insurance financing repayments     (194,949) (218,832)  
Distribution on non-controlling interests     (356,951) (389,093)  
Dividends paid on common stock     (1,064,818) (230,680)  
Net cash provided by financing activities     5,001,430 11,931,635  
Net decrease in cash and cash equivalents     (8,001,907) 13,106,775  
Cash and cash equivalents and restricted cash - beginning of period     10,624,076 1,122,364 $ 1,122,364
Cash and cash equivalents and restricted cash - end of period 2,622,169 14,229,139 2,622,169 14,229,139 10,624,076
CASH TRANSACTIONS          
Interest Paid     1,001,505 938,984  
NON-CASH TRANSACTIONS          
Stock issued for accrued liabilities     0 11,000  
Stock issued for cashless exercise of Investor Warrants     688 0  
Deferred distribution on redeemable non-controlling interests     48,039 20,597  
Right of use asset and liability     6,304,334 0  
Issuance of Other payable - related party for Redemption of Non-Controlling Interest 2,912,300 $ 0 2,912,300 0  
Common stock issued to redeem non-controlling interest $ 24,892   24,892   $ 21,729
Common stock issued to redeem non-controlling interest     $ 1,200,000 $ 0  

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