Annual report pursuant to Section 13 and 15(d)

Subsequent Events

v3.19.1
Subsequent Events
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
17. Subsequent Events
 
On January 10, 2019, the Company paid a dividend of $0.17 per share, or $2,624,566 in the aggregate, to its shareholders of record as of December 31, 2018.
 
On January 15, 2019, the Company sold a property classified as real estate held for sale at December 31, 2018 receiving $135,000 in net proceeds. The Company recognized an impairment loss of $
16,822
as of December 31, 2018.
 
In February 2019, a property classified as real estate held for rental was sold resulting in a gain of $7,149.
 
In February 2019, the Company purchased a property held for rental for $90,000.
 
In February 2019, the Company entered in to an agreement with a former borrower to pay the sum of $155,000 relating to the sale of four properties foreclosed by the Company. The borrower paid $25,000 in January 2019 pursuant to the agreement.
 
In February and March of 2019, the Company sold 511,635 common shares in the ATM Program, realizing approximately $2.2 million in net proceeds.