Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF COMPREHENSIVE INCOME

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STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenue:    
Interest income from loans $ 22,305,530 $ 13,821,831
Investment income 1,069,374 399,493
Income from partnership investments 142,026  
Gain (loss) on sale of investment securities 284,769 903,257
Origination fees 3,389,615 1,893,143
Late and other fees 519,087 85,469
Processing fees 193,492 167,833
Rental income (loss), net 30,663 85,339
Other income 2,489,996 1,246,530
Total revenue 30,424,552 18,602,895
Operating costs and expenses:    
Interest and amortization of deferred financing costs 10,422,101 5,547,406
Professional fees 1,142,038 628,797
Compensation, fees and taxes 3,122,934 1,799,889
Stock based compensation 191,318 16,429
Exchange fees 50,000 49,054
Other expenses and taxes 299,343 157,194
Depreciation 83,525 61,865
General and administrative expenses 1,101,000 562,607
Loss on sale of real estate 165,915 7,218
Impairment loss 719,000 795,000
Total operating costs and expenses 17,105,856 9,609,030
Net income 13,318,696 8,993,865
Preferred stock dividend (1,853,855)  
Net income attributable to common shareholders 11,464,841 8,993,865
Other comprehensive (loss) gain    
Unrealized (loss) gain on investment securities (476,016) 24,886
Comprehensive income $ 10,988,825 $ 9,018,751
Basic and diluted net income per common share outstanding:    
Basic $ 0.44 $ 0.41
Diluted $ 0.44 $ 0.41
Weighted average number of common shares outstanding:    
Basic 26,316,286 22,118,522
Diluted 26,324,986 22,118,522