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 ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 58,001,587 $ 26,332,580
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (8,377,594) 21,997
Depreciation and amortization 312,531 18,674
(Gain) loss on disposal of fixed assets (3,901) 8,201
Changes in operating assets and liabilities:    
Accrued receivables and other assets (17,191,333) (3,160,632)
Prepaid income taxes (202,494)
Notes receivable for land sales 48,582 44,143
Accounts payable, accrued expenses and other liabilities 27,821,367 7,714,023
Income taxes payable 5,249,006 (634,911)
Net cash provided by operating activities 65,860,245 30,141,581
Cash flows from investing activities:    
Proceeds from sale of fixed assets 27,500 18,000
Purchase of fixed assets (7,969,863) (368,938)
Net cash used in investing activities (7,942,363) (350,938)
Cash flows from financing activities:    
Purchase of Sub-share Certificates in Certificates of Proprietary Interest (27,158,458) (26,799,253)
Dividends paid (10,681,020) (2,507,183)
Net cash used in financing activities (37,839,478) (29,306,436)
Net increase in cash and cash equivalents 20,078,404 484,207
Cash and cash equivalents, beginning of period 49,417,889 45,011,969
Cash and cash equivalents, end of period $ 69,496,293 $ 45,496,176