Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Assets    
Leased property, net of accumulated depreciation of $82,749,089 and $72,155,753 $ 455,363,130 $ 465,956,467
Property and equipment, net of accumulated depreciation of $14,312,665 and $12,643,636 111,514,726 113,158,872
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 2,091,181 2,958,315
Cash and cash equivalents 14,175,860 15,787,069
Deferred rent receivable 25,769,989 22,060,787
Accounts and other receivables 3,373,602 3,786,036
Deferred costs, net of accumulated amortization of $956,999 and $623,764 3,171,680 3,504,916
Prepaid expenses and other assets 1,068,526 742,154
Deferred tax asset, net 4,115,834 2,244,629
Goodwill 1,718,868 1,718,868
Total Assets 623,363,396 633,418,113
Liabilities and Equity    
Secured credit facilities, net of debt issuance costs of $237,302 and $254,646 38,998,698 40,745,354
Unsecured convertible senior notes, net of discount and debt issuance costs of $1,574,323 and $1,967,917 112,425,677 112,032,083
Asset retirement obligation 9,426,350 9,170,493
Accounts payable and other accrued liabilities 2,512,598 2,333,782
Management fees payable 1,814,105 1,748,426
Income tax liability 36,971 2,204,626
Unearned revenue 5,321,069 3,397,717
Total Liabilities 170,535,468 171,632,481
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 June 30, 2018 and December 31, 2017 130,000,000 130,000,000
Capital stock, non-convertible, $0.001 par value; 11,933,774 and 11,915,830 shares issued and outstanding at June 30, 2018 and December 31, 2017 (100,000,000 shares authorized) 11,934 11,916
Additional paid-in capital 322,815,994 331,773,716
Total Equity 452,827,928 461,785,632
Total Liabilities and Equity $ 623,363,396 $ 633,418,113