Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Statement of Cash Flows [Abstract]    
Net Income $ 8,167,219 $ 4,025,746
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Deferred income tax, net 241,146 2,180,456
Depreciation 9,573,809 8,571,860
Amortization 860,960 650,330
Realized and unrealized gain on trading securities 0 251,213
Realized and unrealized gain on other equity securities (4,199,375) (3,834,306)
Unrealized Gain (Loss) on derivatives contract (53,132) 29,239
Distributions Received from Investment Securities 823,499 (567,276)
Changes in assets and liabilities:    
Increase in accounts receivable 981,606 (220,004)
Decrease in lease receivable (709,982) 0
(Increase) decrease in prepaid expenses and other assets (170,830) 330,715
Decrease in accounts payable and other accrued liabilities (68,421) (1,571,999)
Increase (decrease) in current income tax liability 909,904 (4,626,710)
Increase (decrease) in unearned revenue 1,422,458 (2,133,685)
Net cash provided by (used in) operating activities 17,778,861 3,085,579
Investing Activities    
Proceeds from sale of long-term investment of trading and other equity securities 0 5,563,865
Deferred lease costs 0 (5,620)
Acquisition expenditures (45,524,755) (37,696)
Purchases of property and equipment (11,970) (42,242)
Issuance of financing note receivable (15,510,956) 0
Increase (Decrease) in Asset Retirement Obligations 948 0
Return of capital on distributions received 873,820 1,142,488
Net cash (used in) provided by investing activities (60,172,913) 6,620,795
Financing Activities    
Payments on lease obligation 0 (20,698)
Debt financing costs (383,678) (10,999)
Net offering proceeds 45,624,563 0
Dividends paid (11,114,645) (5,957,317)
Distributions to non-controlling interest (2,079,303) (2,479,425)
Advances on revolving line of credit 2,535,671 139,397
Payments on revolving line of credit (2,617,606) (139,397)
Payments of Long-term Debt (2,058,000) 0
Net cash provided by (used in) financing activities 29,907,002 (8,468,439)
Net change in cash and cash equivalents (12,487,050) 1,237,935
Cash and cash equivalents at beginning of period 17,963,266 17,680,783
Cash and cash equivalents at end of period 5,476,216 18,918,718
Supplemental Disclosure of Cash Flow Information    
Interest paid (2,104,349) (1,948,486)
Net Income taxes paid (refunds received) (430,225) (4,781,617)
Non-Cash Investing Activities    
Change in accounts payable and accrued expenses related to acquisition expenditures 408,778 0
Non-Cash Financing Activities    
Dividend reinvestment 99,081 78,755
Change in accounts payable and accrued expenses related to debt financing costs $ (68,660) $ 0