Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Assets    
Leased property, net of accumulated depreciation of $77,452,422 and $72,155,753 $ 460,659,797 $ 465,956,467
Property and equipment, net of accumulated depreciation of $13,470,161 and $12,643,636 112,357,230 113,158,872
Financing notes and related accrued interest receivable, net of reserve of $4,600,000 and $4,100,000 1,000,000 1,500,000
Other equity securities, at fair value 2,972,281 2,958,315
Cash and cash equivalents 17,330,097 15,787,069
Deferred rent receivable 23,760,888 22,060,787
Accounts and other receivables 2,983,075 3,786,036
Deferred costs, net of accumulated amortization of $790,381 and $623,764 3,338,298 3,504,916
Prepaid expenses and other assets 791,418 742,154
Deferred tax asset, net 3,511,770 2,244,629
Goodwill 1,718,868 1,718,868
Total Assets 630,423,722 633,418,113
Liabilities and Equity    
Secured credit facilities, net of debt issuance costs of $250,507 and $254,646 39,867,493 40,745,354
Unsecured convertible senior notes, net of discount and debt issuance costs of $1,771,120 and $1,967,917 112,228,880 112,032,083
Asset retirement obligation 9,298,421 9,170,493
Accounts payable and other accrued liabilities 4,183,744 2,333,782
Management fees payable 1,813,263 1,748,426
Income tax liability 2,169,077 2,204,626
Unearned revenue 4,842,292 3,397,717
Total Liabilities 174,403,170 171,632,481
Equity    
Series A Cumulative Redeemable Preferred Stock 7.375%, $130,000,000 liquidation preference ($2,500 per share, $0.001 par value), 10,000,000 authorized; 52,000 issued and outstanding at March 31, 2018 and December 31, 2017 130,000,000 130,000,000
Capital stock, non-convertible, $0.001 par value; 11,924,478 and 11,915,830 shares issued and outstanding at March 31, 2018 and December 31, 2017 (100,000,000 shares authorized) 11,925 11,916
Additional paid-in capital 326,008,627 331,773,716
Total Equity 456,020,552 461,785,632
Total Liabilities and Equity $ 630,423,722 $ 633,418,113