As Reported Financials

Source Document Currency Code (in units) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

Revenues

Interest and related income from loans 8,277,004 8,922,142 10,840,730 12,281,261
Rental and other income from real estate properties 12,791,096 7,977,400 4,505,385 4,129,261
Other income 175,451 179,449 187,013 386,499
Total revenues 21,243,551 17,078,991 15,533,128 16,797,021

Expenses

Management fees to Manager 2,051,134 3,286,470 3,546,085 2,906,333
Servicing fees to Manager 186,467 298,770 362,411 95,143
General and administrative expense 1,278,994 1,568,890 2,234,230 3,389,524
Rental and other expenses on real estate properties 8,510,110 7,060,526 4,980,900 3,858,962
Depreciation and amortization 2,052,181 1,258,305 1,138,515 761,717
Interest expense 1,938,113 2,859,294 1,587,695 2,132,776
Bad debt expense from uncollectible rent 152,805 NA NA NA
(Recovery of) provision for loan losses (1,026,909) 1,284,896 (360,012) (239,144)
Impairment losses on real estate properties 1,589,434 3,227,807 1,423,286 1,053,161
Total expenses 16,732,329 20,844,958 14,913,110 13,958,472
Operating income (loss) 4,511,222 (3,765,967) 620,018 2,838,549
Gain on sales of real estate, net 21,818,553 24,497,763 14,728,921 4,610,824
Settlement expense 0 0 (2,627,436) 0
Net income before income tax expense 26,329,775 20,731,796 12,721,503 7,449,373
Income tax (expense) benefit (93,335) 7,248,977 (4,041,655) (559,842)
Net income 26,236,440 27,980,773 8,679,848 6,889,531
Less - Net income attributable to non-controlling interests (2,667,324) (3,571,003) 0 0
Net income attributable to common stockholders 23,569,116 24,409,770 8,679,848 6,889,531

Per common share data

Basic and diluted earnings per common share 2.22 2.38 0.85 0.79
Basic and diluted weighted average number of common shares outstanding 10,594,807 10,247,477 10,162,496 8,764,568
Dividends declared per share of common stock 0.41 0.32 0.38 0.76
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