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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (932,119) $ (961,937)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 1,574,526 2,210,081
Stock compensation 157,371 433,285
Bad debt expense 0 18,139
Loss (gain) on sale of real estate assets, net 9,835 (1,214,242)
Accretion of original issue discount 337,802 0
Amortization of financing costs 363,183 227,374
Amortization of above-market leases 12,671 17,455
Amortization of below-market leases (42,595) (47,599)
Straight-line rent adjustment (52,941) (14,856)
Changes in operating assets and liabilities:    
Other assets 1,947,145 2,051,150
Accounts payable and accrued liabilities (2,612,649) (459,901)
Accrued real estate taxes (1,236,304) (941,134)
Net cash (used in) provided by operating activities (474,075) 1,317,815
Cash flows from investing activities:    
Real estate acquisitions (3,573,743) 0
Additions to buildings and tenant improvements (889,673) (2,696,422)
Additions to deferred leasing costs 0 (151,903)
Proceeds from sales of real estate, net 24,587,128 10,836,118
Net cash provided by investing activities 20,123,712 7,987,793
Cash flows from financing activities:    
Proceeds from mortgage notes payable, net of issuance costs 4,347,502 3,674,303
Repayment of mortgage notes payable (19,803,831) (7,682,670)
Repayment of note payable (5,224,401) 0
Redemption of mandatorily redeemable preferred stock 0 (900,000)
Payment of deferred offering costs (100,031) 0
Contributions from noncontrolling interests, net of distributions paid (277,472) (258,708)
Dividends paid to stockholders 0 (1,075,521)
Net cash used in financing activities (21,058,233) (6,242,596)
Net (decrease) increase in cash equivalents and restricted cash (1,408,596) 3,063,012
Cash, cash equivalents and restricted cash - beginning of period 10,391,275 9,776,215
Cash, cash equivalents and restricted cash - end of period 8,982,679 12,839,227
Supplemental disclosure of cash flow information:    
Interest paid-Series B preferred stock 0 580,650
Interest paid-mortgage notes payable 1,674,483 1,727,008
Interest paid-notes payable 247,805 0
Unpaid deferred offering costs $ 14,608 $ 0