Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Statement of Cash Flows [Abstract]    
Net Income $ 2,496,273 $ 2,797,287
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Deferred income tax, net (340,561) 735,053
Depreciation 3,131,637 2,857,036
Amortization 233,166 216,738
Realized and unrealized gain on trading securities 0 (316,063)
Realized and unrealized gain on other equity securities (1,294,182) (2,425,986)
Unrealized Gain (Loss) on derivatives contract (17,489) 0
Changes in assets and liabilities:    
Increase in accounts receivable (145,667) (741,371)
Decrease in lease receivable 272,990 0
(Increase) decrease in prepaid expenses and other assets (107,057) 136,042
Decrease in accounts payable and other accrued liabilities 8,017 (349,318)
Increase (decrease) in current income tax liability 1,033,247 (3,647,016)
Increase (decrease) in unearned revenue 2,844,914 (711,228)
Net cash provided by (used in) operating activities 8,115,288 (1,448,826)
Investing Activities    
Proceeds from sale of long-term investment of trading and other equity securities 0 4,557,379
Deferred lease costs 0 (5,620)
Acquisition expenditures (41,887,644) 0
Purchases of property and equipment 0 (41,163)
Proceeds from Sale of Property, Plant, and Equipment (4,107,955) 0
Return of capital on distributions received 491,260 314,340
Net cash (used in) provided by investing activities (45,504,339) 4,824,936
Financing Activities    
Payments on lease obligation 0 (20,698)
Debt financing costs (220,000) (10,999)
Net offering proceeds 45,624,563 0
Dividends paid (2,990,215) (2,968,442)
Advances on revolving line of credit 1,523,266 139,397
Payments on revolving line of credit (1,122,096) 0
Payments of Long-term Debt (294,000) 0
Net cash provided by (used in) financing activities 42,521,518 (2,860,742)
Net change in cash and cash equivalents 5,132,467 515,368
Cash and cash equivalents at beginning of period 17,963,266 17,680,783
Cash and cash equivalents at end of period 23,095,733 18,196,151
Supplemental Disclosure of Cash Flow Information    
Interest paid (690,570) (531,318)
Income taxes paid 179,172 (3,895,800)
Non-Cash Investing Activities    
Change in accounts payable and accrued expenses related to acquisition expenditures 78,121 0
Non-Cash Financing Activities    
Dividend reinvestment 29,305 49,141
Change in accounts payable and accrued expenses related to debt financing costs $ (220,000) $ 0