In connection with the preparation of the Company’s 2019 consolidated financial statements, the Company identified errors in its historical financial statements relating to how the Company accounted for debt discounts and how the Company accounted for reimbursement of salaries and other salary related costs for its property management revenue arrangements. Specifically, the Company incorrectly accounted for debt discount that should have been fully amortized at the end of the initial three-year term of certain notes payable due to affiliates, in October 2017. In addition, in the interim periods in 2019, the Company previously reported the reimbursement of salary costs from its property management agreements on a net basis, although the Company was required to account for these payroll related reimbursements on a gross basis. The correction of these non-cash errors had no effect on the previously reported operating income (loss) or total cash flows from operations, investing, or financing of the Company.

The Company evaluated the errors and, based on an analysis of quantitative and qualitative factors, determined that the related impact was not material to the Company’s consolidated financial statements for any prior period.

All financial statements and footnotes presented herein have been adjusted to reflect the revisions below.

	For the three months ended March 31, 2019
	As previously reported			Adjustment			As adjusted
Revenue—asset management	$	3,861		$	293		$	4,154
Direct costs—asset management		3,317			350			3,667
Interest (expense)		(34	)		16			(18	)
Other income, net		—			57			57
Net income (loss)		69			16			85
Additional paid-in capital		180,769			959			181,728
Accumulated deficit		(194,250	)		(1,756	)		(196,006	)
Total equity		7,095			(797	)		6,298