Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
Preferred Stock
Common Stock
Additional Paid in Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Total
Beginning balance at Dec. 31, 2021 $ 1,903 $ 32,730 $ 185,516,394 $ (476,016) $ (4,992,450) $ 180,082,561
Beginning balance (in shares) at Dec. 31, 2021 1,903,000 32,730,004        
Issuance of common shares, net of expenses   $ 2,730 15,545,085     15,547,815
Issuance of common shares, net of expenses (in shares)   2,730,725        
Exercise of warrants   $ 20 (20)      
Exercise of warrants (in shares)   19,658        
Stock based compensation   $ 34 106,845     106,879
Stock based compensation (in shares)   33,500        
Unrealized gain on marketable securities       242,808   242,808
Series A Preferred Stock dividend         (921,766) (921,766)
Net income for the year         4,351,466 4,351,466
Ending Balance at Mar. 31, 2022 $ 1,903 $ 35,514 201,168,304 (233,208) (1,562,750) 199,409,763
Ending Balance (in shares) at Mar. 31, 2022 1,903,000 35,513,887        
Beginning balance at Dec. 31, 2022 $ 1,903 $ 41,094 226,220,990 (561,490) (7,995,143) 217,707,354
Beginning balance (in shares) at Dec. 31, 2022 1,903,000 41,093,536        
Cumulative effect of change in accounting principle - Adoption of ASU 2016-13 (Note 2)         (2,489,574) (2,489,574)
Issuance of Series A Preferred Stock, net of expenses $ 6   136,699     136,705
Issuance of Series A Preferred Stock, net of expenses (in shares) 6,187          
Issuance of common shares, net of expenses   $ 2,480 9,178,678     9,181,158
Issuance of common shares, net of expenses (in shares)   2,479,798        
Stock based compensation   $ 183 173,132     173,315
Stock based compensation (in shares)   183,390        
Unrealized gain on investments       91,637   91,637
Series A Preferred Stock dividend         (924,762) (924,762)
Net income for the year         5,120,222 5,120,222
Ending Balance at Mar. 31, 2023 $ 1,909 $ 43,757 $ 235,709,499 $ (469,853) $ (6,289,257) $ 228,996,055
Ending Balance (in shares) at Mar. 31, 2023 1,909,187 43,756,724