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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (180,162) $ (508,064)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization, net 1,434,190 1,434,190
Amortization of deferred financing costs 60,070 227,264
Straight-line rental income (11,504) (63,734)
Equity-based compensation 61,876 61,875
Write-off of deferred financing costs 0 183,850
Changes in assets and liabilities:    
Rents and tenant receivables 144,067 81,948
Prepaid expenses and other assets (45,129) (15,302)
Accrued expenses and accounts payable (88,607) (181,581)
Deferred rental income 4,342 217,149
Due to affiliates 0 (757)
Net cash provided by operating activities 1,379,143 1,436,838
Cash flows from investing activities:    
Net cash used in investing activities 0 0
Cash flows from financing activities:    
Proceeds from issuance of common stock 0 350,001
Redemptions of common stock (418,898) (407,552)
Offering costs on issuance of common stock 0 (37,072)
Distribution and stockholder servicing fees paid (39,130) (46,290)
Distributions to stockholders (753,024) (750,647)
Proceeds from credit facility 1,500,000 0
Deferred financing costs paid (81,139) (73,994)
Net cash provided by (used in) financing activities 207,809 (965,554)
Net increase in cash and cash equivalents 1,586,952 471,284
Cash and cash equivalents, beginning of period 1,206,262 635,959
Cash and cash equivalents, end of period 2,793,214 1,107,243
Supplemental disclosures of non-cash investing and financing activities:    
Distributions declared and unpaid 99,566 127,432
Change in accrued distribution and stockholder servicing fees due to affiliate (7,727) 1,000
Common stock issued through distribution reinvestment plan 345,960 516,146
Supplemental Cash Flow Disclosures:    
Interest paid 508,659 852,584
Cash paid for taxes $ 14,272 $ 5,354