Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited)

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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 Income (Loss)
Accumulated Deficit
Total
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 adoption of new accounting principle (ASU 2016-13)               (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 or loss on investments             91,637   91,637
Dividends paid on Series A Preferred Stock               (924,762) (924,762)
Net income               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        
Beginning balance at Dec. 31, 2023       $ 2,030 $ 46,765 249,825,780 315,614 (20,115,496) 230,074,693
Beginning balance (in shares) at Dec. 31, 2023       2,029,923 46,765,483        
Issuance of Series A Preferred Stock, net of expenses $ 79 $ 1,556,103 $ 1,556,182            
Issuance of Series A Preferred Stock, net of expenses (in shares) 79,034                
Issuance of Common Shares, net of expenses         $ 569 2,049,471     2,050,040
Issuance of Common Shares, net of expenses (in shares)         568,711        
Stock - based compensation         $ 112 238,600     238,712
Stock - based compensation (in shares)         111,857        
Unrealized gain or loss on investments             (125,285)   (125,285)
Dividends paid on Series A Preferred Stock               (1,021,526) (1,021,526)
Net income               4,670,225 4,670,225
Ending balance at Mar. 31, 2024       $ 2,109 $ 47,446 $ 253,669,954 $ 190,329 $ (16,466,797) $ 237,443,041
Ending balance (in shares) at Mar. 31, 2024       2,108,957 47,446,051