Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
 1 Months Ended 3 Months Ended
Dec. 31, 2012
Mar. 31, 2013
Feb. 29, 2012
Net Income (Loss) $ (1,521,743) $ 2,797,287 $ 5,747,041
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Distributions received from investment securities 0 0 1,053,007
Deferred income tax, net (4,776,090) 735,053 3,455,914
Depreciation expense 499,357 2,857,036 246,805
Amortization expense 42,826 216,738 30,458
Realized and unrealized (gain) loss on trading securities 1,769,058 (316,063) (2,862,272)
Realized and unrealized (gain) loss on other equity securities 159,495 (2,425,986) (6,069,194)
Changes in assets and liabilities:      
(Increase) decrease in accounts receivable 647,363 (741,371) (813,036)
Decrease in lease receivable 0 0 (711,229)
(Increase) decrease in prepaid expenses and other assets 1,879,222 136,042 (292,105)
Increase (decrease) in accounts payable and other accrued liabilities 1,527,789 (349,318) (107,111)
Increase (decrease) in current income tax liability 3,855,947 (3,647,016) 0
Decrease in unearned income (237,077) (711,228) 0
Net cash provided by (used in) operating activities 3,846,147 (1,448,826) (321,722)
Investing Activities      
Proceeds from sale of long-term investment of trading and other equity securities 49,131,955 4,557,379 0
Deferred lease costs (914,843) (5,620) 3,076
Purchases of leased asset property (230,559,484) 0 (29,722)
Purchases of property and equipment (421) (41,163) 0
Return of capital on distributions received 0 314,340 0
Net cash provided by (used in) investing activities (182,342,793) 4,824,936 (26,646)
Financing Activities      
Payments on lease obligation (6,824) (20,698) (19,690)
Debt financing costs (1,537,353) (10,999) 0
Net offering proceeds 83,508,150 0 0
Debt issuance 70,000,000 0 0
Proceeds from non-controlling interest 30,000,000 0 0
Dividends 0 (3,017,583) 0
Advances on revolving line of credit 530,000 139,397 1,045,000
Repayments on revolving line of credit (650,000) 0 0
Dividend reinvestment 0 49,141 0
Net cash provided by (used in) financing activities 181,843,973 (2,860,742) 1,025,310
Net Change in Cash and Cash Equivalents 3,347,327 515,368 676,942
Cash and Cash Equivalents at beginning of period 14,333,456 17,680,783 2,793,326
Cash and Cash Equivalents at end of period 17,680,783 18,196,151 3,470,268
Supplemental Disclosure of Cash Flow Information      
Interest paid 2,765 531,318 11,665
Income taxes paid 0 3,895,800 96,000
Non-Cash Investing Activities      
Security proceeds from sale in long-term investment of other equity securities $ 23,046,215 $ 0 $ 0