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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net Loss $ (8,275,000) $ (6,483,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 3,988,000 2,516,000
Amortization of loan costs 686,000 149,000
PPP Forgiveness (328,000) (348,000)
Amortization of right of use lease asset 0 57,000
Equity based payments 391,000 0
Changes in operating assets and liabilities    
Due to/from related parties 0 18,000
Construction in progress 0 (134,000)
Accounts payable 3,181,000 758,000
Right of use lease liability 0 (57,000)
Security deposits 19,000 16,000
Other assets (13,000) 99,000
Deferred revenue (54,000) (41,000)
Accounts receivable 1,537,000 111,000
Prepaid expenses 132,000 1,259,000
Net cash provided by (used in) operating activities 1,264,000 (2,080,000)
Cash flows from investing activities:    
Building improvements (1,271,000) 0
Capitalized technology (90,000) 0
Purchase of investment in real estate (17,513,000) 0
Net cash used in investing activities (18,874,000) 0
Cash flows from financing activities    
Proceeds from line of credit 73,700,000 0
Proceeds from notes payable 0 2,473,000
Payments on notes payable (56,760,000) (1,348,000)
Loan fees (2,046,000) (21,000)
Net cash provided by financing activities 14,894,000 1,104,000
Net change in cash and cash equivalents and restricted cash (2,716,000) (976,000)
Cash and cash equivalents and restricted cash, beginning of period 16,696,000 7,895,000
Cash and cash equivalents and restricted cash, end of period 13,980,000 6,919,000
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 11,805,000 4,235,000
Restricted cash at beginning of period 4,891,000 3,660,000
Cash and cash equivalents and restricted cash, beginning of period 16,696,000 7,895,000
Cash and cash equivalents at end of period 8,623,000 2,834,000
Restricted cash at end of period 5,357,000 4,085,000
Cash and cash equivalents and restricted cash, end of period 13,980,000 6,919,000
Supplemental disclosures of cash flow information:    
Interest Paid 5,021,000 4,171,000
Non-cash investing and financing activities:    
Dividends declared not yet paid $ 1,500,000 $ 1,500,000