v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES        
Total revenues $ 8,611,000 $ 8,284,000 $ 17,376,000 $ 17,207,000
EXPENSES        
Operating, maintenance and management 1,843,000 1,729,000 4,267,000 4,140,000
Real estate and other property-related taxes 1,429,000 1,404,000 2,816,000 2,793,000
Corporate general and administrative 631,000 958,000 1,193,000 1,670,000
Depreciation and amortization 2,323,000 3,309,000 4,215,000 5,802,000
Total expenses 6,226,000 7,400,000 12,491,000 14,405,000
OTHER        
Loss on sale (55,000) 0 (55,000) 0
Total other (55,000) 0 (55,000) 0
OPERATING INCOME 2,330,000 884,000 4,830,000 2,802,000
NON-OPERATING INCOME AND EXPENSES        
Interest expense, net (2,312,000) (1,951,000) (4,489,000) (3,855,000)
Total non-operating income and expenses (2,312,000) (1,951,000) (4,489,000) (3,855,000)
NET INCOME (LOSS) 18,000 (1,067,000) 341,000 (1,053,000)
Preferred stock dividends (2,688,000) (2,688,000) (5,376,000) (5,376,000)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS (2,670,000) (3,755,000) (5,035,000) (6,429,000)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (2,670,000) $ (3,755,000) $ (5,035,000) $ (6,429,000)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS (in dollars per share) $ (0.19) $ (0.27) $ (0.37) $ (0.47)
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS (in dollars per share) $ (0.19) $ (0.27) $ (0.37) $ (0.47)
Weighted average number of common shares (in shares) 13,718,000 13,718,000 13,718,000 13,718,000
Weighted average number of common shares (in shares) 13,718,000 13,718,000 13,718,000 13,718,000
Rental revenues        
REVENUES        
Total revenues $ 8,370,000 $ 8,253,000 $ 17,085,000 $ 16,894,000
Other revenues        
REVENUES        
Total revenues $ 241,000 $ 31,000 $ 291,000 $ 313,000

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