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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net loss $ (5,466,000) $ (1,637,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 10,702,000 10,225,000
Noncash impairment charge 3,000,000  
Change in fair value of financial instruments 2,746,000 570,000
Gain on sales of real estate assets (1,792,000) (825,000)
Noncash rental revenue including straight-line rents (1,610,000) (1,942,000)
Amortization of debt issuance costs 819,000 324,000
Stock-based compensation expense 810,000 407,000
Deferred income taxes   (456,000)
Changes in assets and liabilities:    
Other assets (3,517,000) (1,863,000)
Accounts payable and accrued liabilities (331,000) (348,000)
Deferred revenue 1,371,000 1,902,000
Other liabilities 553,000 (450,000)
Net cash provided by operating activities 7,285,000 5,907,000
Investing activities:    
Acquisitions of land and buildings (77,954,000) (13,670,000)
Additions to real estate assets (33,692,000) (9,137,000)
Proceeds from sales of real estate assets, net of expenses 9,982,000 1,094,000
Deposits on building and land acquisitions (6,455,000) (365,000)
Deferred leasing costs and other (2,490,000) (1,166,000)
Changes in short-term investments, net   1,011,000
Net cash used in investing activities (110,609,000) (22,233,000)
Financing activities:    
Proceeds from sale of common stock 108,676,000 27,281,000
Proceeds from mortgage loans 14,662,000 20,100,000
Dividends paid to stockholders (5,721,000)  
Principal payments on mortgage loans (3,826,000) (6,703,000)
Payment of debt issuance costs (1,863,000) (363,000)
Net repayment on revolving lines of credit   (3,000,000)
Proceeds from sale of warrants   2,018,000
Proceeds from exercise of stock options 407,000 210,000
Net cash provided by financing activities 112,335,000 39,543,000
Net increase in cash and cash equivalents 9,011,000 23,217,000
Cash and cash equivalents at beginning of period 28,124,000 4,837,000
Cash and cash equivalents at end of period $ 37,135,000 $ 28,054,000