Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited)

v3.23.3
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) - USD ($)
Series A Preferred Stock
Preferred Shares
Series A Preferred Stock
Additional Paid in Capital
Series A Preferred Stock
Preferred Shares
Common Shares
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         $ 7,177 36,647,242     36,654,419
Issuance of common shares, net of expenses (in shares)         7,177,043        
Exercise of warrants         $ 20 (20)      
Exercise of warrants (in shares)         19,658        
Stock based compensation         $ 154 357,167     357,321
Stock based compensation (in shares)         153,967        
Unrealized gain (loss) on marketable securities             (81,525)   (81,525)
Dividends paid on Series A Preferred Stock               (2,765,297) (2,765,297)
Dividends paid on common shares               (9,580,187) (9,580,187)
Net income for the period               14,632,682 14,632,682
Ending balance at Sep. 30, 2022       $ 1,903 $ 40,081 222,520,783 (557,541) (2,705,252) 219,299,974
Ending balance (in shares) at Sep. 30, 2022       1,903,000 40,080,672        
Beginning balance at Jun. 30, 2022       $ 1,903 $ 36,756 206,973,510 (425,972) (1,583,202) 205,002,995
Beginning balance (in shares) at Jun. 30, 2022       1,903,000 36,755,786        
Issuance of common shares, net of expenses         $ 3,310 15,420,273     15,423,583
Issuance of common shares, net of expenses (in shares)         3,309,886        
Stock based compensation         $ 15 127,000     127,015
Stock based compensation (in shares)         15,000        
Unrealized gain (loss) on marketable securities             (131,569)   (131,569)
Dividends paid on Series A Preferred Stock               (921,766) (921,766)
Dividends paid on common shares               (5,253,923) (5,253,923)
Net income for the period               5,053,639 5,053,639
Ending balance at Sep. 30, 2022       $ 1,903 $ 40,081 222,520,783 (557,541) (2,705,252) 219,299,974
Ending balance (in shares) at Sep. 30, 2022       1,903,000 40,080,672        
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        
Adoption of ASU 2016-13               (2,489,574) (2,489,574)
Issuance of Preferred Stock, net of expenses $ 93 $ 1,895,110 $ 1,895,203            
Issuance of Preferred Stock, net of expenses (in shares) 92,879                
Issuance of common shares, net of expenses         $ 4,158 15,327,773     15,331,931
Issuance of common shares, net of expenses (in shares)         4,158,503        
Repurchase of common stock         $ (71) (226,256)     $ (226,327)
Repurchase of common stock (in shares)         71,000       (71,000)
Stock based compensation         $ 183 616,496     $ 616,679
Stock based compensation (in shares)         183,390        
Unrealized gain (loss) on investments             101,806   101,806
Dividends paid on Series A Preferred Stock               (2,816,279) (2,816,279)
Dividends paid on common shares               (11,601,133) (11,601,133)
Net income for the period               17,008,456 17,008,456
Ending balance at Sep. 30, 2023       $ 1,996 $ 45,364 243,834,113 (459,684) (7,893,673) 235,528,116
Ending balance (in shares) at Sep. 30, 2023       1,995,879 45,364,429        
Beginning balance at Jun. 30, 2023       $ 1,928 $ 43,822 236,595,201 (376,078) (7,222,078) 229,042,795
Beginning balance (in shares) at Jun. 30, 2023       1,927,603 43,822,050        
Issuance of Preferred Stock, net of expenses $ 68 $ 1,378,133 $ 1,378,201            
Issuance of Preferred Stock, net of expenses (in shares) 68,276                
Issuance of common shares, net of expenses         $ 1,542 5,639,808     5,641,350
Issuance of common shares, net of expenses (in shares)         1,542,379        
Stock based compensation           220,971     220,971
Unrealized gain (loss) on investments             (83,606)   (83,606)
Dividends paid on Series A Preferred Stock               (966,754) (966,754)
Dividends paid on common shares               (5,895,035) (5,895,035)
Net income for the period               6,190,194 6,190,194
Ending balance at Sep. 30, 2023       $ 1,996 $ 45,364 $ 243,834,113 $ (459,684) $ (7,893,673) $ 235,528,116
Ending balance (in shares) at Sep. 30, 2023       1,995,879 45,364,429