Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
Preferred Shares
Common Shares
Additional Paid in Capital
Accumulated Other Comprehensive Income (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 Series A Preferred Stock, net of expenses     (70,000)     (70,000)
Issuance of Common Shares, net of expenses   $ 7,880 39,284,065     39,291,945
Issuance of Common Shares, net of expenses (in shares)   7,879,907        
Acquisition of Urbane Capital, LLC   $ 300 995,700     996,000
Acquisition of Urbane Capital, LLC (in shares)   300,000        
Exercise of warrants   $ 20 (20)      
Exercise of warrants (in shares)   19,658        
Stock based compensation   $ 164 494,851     495,015
Stock based compensation (in shares)   163,967        
Unrealized gain on investments       (85,474)   (85,474)
Dividends paid on Common Shares         (14,882,122) (14,882,122)
Dividends paid on Series A Preferred Stock         (3,687,062) (3,687,062)
Dividends declared         (5,342,160) (5,342,160)
Net income         20,908,651 20,908,651
Ending balance at Dec. 31, 2022 $ 1,903 $ 41,094 226,220,990 (561,490) (7,995,143) 217,707,354
Ending 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 $ 127   2,563,683     2,563,810
Issuance of Series A Preferred Stock, net of expenses (in shares) 126,923          
Issuance of Common Shares, net of expenses   $ 5,546 20,445,328     20,450,874
Issuance of Common Shares, net of expenses (in shares)   5,546,891        
Repurchase of Common Shares   $ (71) (226,256)     (226,327)
Repurchase of Common Shares (in shares)   (71,000)        
Stock based compensation   $ 196 822,035     822,231
Stock based compensation (in shares)   196,056        
Unrealized gain on investments       877,104   877,104
Dividends paid on Common Shares         (16,590,340) (16,590,340)
Dividends paid on Series A Preferred Stock         (3,795,389) (3,795,389)
Dividends declared         (5,144,203) (5,144,203)
Net income         15,899,153 15,899,153
Ending balance at Dec. 31, 2023 $ 2,030 $ 46,765 $ 249,825,780 $ 315,614 $ (20,115,496) $ 230,074,693
Ending balance (in shares) at Dec. 31, 2023 2,029,923 46,765,483