Loans held for investment at carrying value, net of current expected credit loss reserve
295,821,277
296,518,244
300,783,573
250,238,204
Cash and cash equivalents
5,593,575
5,658,839
6,445,328
5,547,368
Interest receivable
2,539,215
2,571,173
2,264,133
1,967,177
Investment in unconsolidated real estate joint venture
25,925,934
24,635,000
-
-
Prepaid expenses and other assets
843,591
647,696
735,230
1,078,733
Total assets
330,723,592
330,030,952
310,228,264
258,831,482
Accrued interest
809,047
1,080,911
730,644
504,186
Dividends payable
4,055,220
4,055,897
4,026,296
4,026,296
Current expected credit loss reserve
176,639
228,826
178,066
291,933
Accrued management and incentive fees
878,995
1,635,136
692,716
1,072,274
Accrued direct administrative expenses
891,346
633,432
282,296
837,515
Accounts payable and other liabilities
414,260
466,954
355,865
337,707
Line of credit payable-Nonrelated Party
82,550,000
88,050,000
102,250,000
67,150,000
Line of credit payable-Related Party
59,100,000
51,350,000
19,750,000
0
Total liabilities
148,875,507
147,501,156
128,265,883
74,219,911
Common stock, par value 0.01 per share, 50,000,000 shares authorized at june 30, 2026 and december 31, 2025 and 13,517,402 and 13,420,986 shares issued and outstanding at june 30, 2026 and december 31, 2025, respectively
135,174
135,197
134,210
134,210
Additional paid-in capital
187,411,971
187,114,464
186,745,489
186,998,082
Accumulated (deficit) earnings
-5,699,060
-4,719,865
-4,917,318
-2,520,721
Total shareholders' equity
181,848,085
182,529,796
181,962,381
184,611,571
Total liabilities and shareholders' equity
330,723,592
330,030,952
310,228,264
258,831,482
Unit: Dollar. Numbers labeled with * are estimated quarterly values.
Time Plot
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