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, 2022
Mar. 31, 2021
Revenue:    
Interest income from loans $ 8,511,375 $ 4,531,232
Investment income 271,472 242,691
Income from partnership investments 272,488 17,373
Loss on sale of investment securities (154,135) (129,440)
Origination fees, net 1,637,627 517,428
Late and other fees 128,864 35,929
Processing fees 65,855 35,975
Rental income, net 10,042 4,184
Unrealized losses on investment securities (1,052,230) 0
Other income 610,017 456,809
Total revenue 10,301,375 5,712,181
Operating costs and expenses:    
Interest and amortization of deferred financing costs 3,898,389 2,464,755
Professional fees 230,715 231,756
Compensation, fees and payroll taxes 993,962 592,087
Stock based compensation 106,879 4,107
Exchange fees 12,329 12,329
Other expenses and other taxes 64,704 21,809
Depreciation 22,239 19,602
General and administrative expenses 401,233 159,608
Loss on sale of real estate 65,838 2,134
Impairment loss 260,500 25,000
Total operating costs and expenses 5,949,909 3,529,080
Net income 4,351,466 2,183,101
Preferred stock dividend (921,766) 0
Net income attributable to common shareholders 3,429,700 2,183,101
Other comprehensive loss    
Unrealized gain (loss) on investment securities 242,808 (7,494)
Comprehensive income $ 3,672,508 $ 2,175,607
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 34,892,883 22,138,006
Diluted 34,898,666 22,138,006