Quarterly report pursuant to Section 13 or 15(d)

STATEMENTS OF COMPREHENSIVE INCOME

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STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenue:    
Interest income from loans $ 4,531,232 $ 2,901,406
Investment income 242,691 97,516
Income from partnership investment 17,373 0
(Loss) gain on sale of investment securities (129,440) 446,083
Origination fees 517,428 511,056
Late and other fees 35,929 14,781
Processing fees 35,975 46,458
Rental income, net 4,184 10,728
Other income 456,809 284,274
Total revenue 5,712,181 4,312,302
Operating costs and expenses:    
Interest and amortization of deferred financing costs 2,464,755 1,149,953
Professional fees 231,756 132,309
Compensation, fees and taxes 592,087 344,493
Exchange fees 12,329 7,273
Other expenses and taxes 21,809 28,703
Depreciation 19,602 16,283
General and administrative expenses 159,608 140,214
Loss on sale of real estate (2,134) (4,460)
Impairment loss 25,000 250,000
Total operating costs and expenses 3,529,080 2,073,688
Net income 2,183,101 2,238,614
Other comprehensive loss    
Unrealized loss on investment securities (7,494) (135,382)
Comprehensive income $ 2,175,607 $ 2,103,232
Basic and diluted net income per common share outstanding:    
Basic $ 0.10 $ 0.10
Diluted $ 0.10 $ 0.10
Weighted average number of common shares outstanding:    
Basic 22,138,006 22,117,301
Diluted 22,138,006 22,117,301