XML 15 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Rental income $ 7,950,356 $ 7,661,356 $ 23,740,115 $ 23,470,574
Fee and other income 332,246 302,118 931,736 1,257,500
Total revenue 8,282,602 7,963,474 24,671,851 24,728,074
Costs and expenses:        
Rental operating costs 2,718,295 2,794,071 8,030,427 8,067,236
General and administrative 1,384,974 1,322,631 4,041,453 3,960,202
Depreciation and amortization 2,268,896 2,399,307 6,873,828 7,346,640
Impairment of real estate assets 532,951   532,951  
Total costs and expenses 6,905,116 6,516,009 19,478,659 19,374,078
Other income (expense):        
Interest expense-Series B preferred stock (1,145,474) (1,202,099) (3,344,788) (3,966,902)
Interest expense-mortgage notes (2,135,614) (1,989,053) (6,160,456) (5,851,865)
Interest and other income, net 8,466 10,515 2,624 25,612
Gain on sales of real estate, net 366,032 210,372 795,521 2,237,423
Deferred offering costs     (1,507,599)  
Income tax expense (69,683) (53,566) (225,341) (154,189)
Total other expense, net (2,976,273) (3,023,831) (10,440,039) (7,709,921)
Net loss (1,598,787) (1,576,366) (5,246,847) (2,355,925)
Less: Income attributable to noncontrolling interests (284,138) (200,181) (852,030) (415,009)
Net loss attributable to Presidio Property Trust, Inc. common stockholders $ (1,882,925) $ (1,776,547) $ (6,098,877) $ (2,770,934)
Basic and diluted loss per common share $ (0.11) $ (0.10) $ (0.16) $ (0.16)
Weighted average number of common shares outstanding - basic and diluted 17,667,857 17,617,500 17,564,805 17,564,805