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Consolidated Statements of Cash Flows (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASHFLOWS FROM OPERATING ACTIVITIES    
Net loss $ (1,362,210) $ (639,368)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation 737,552 559,962
Amortization of acquired lease intangible assets 252,017 216,735
Amortization of debt issuance costs 61,606 63,922
Amortization of below market leases (49,955) (75,592)
Amortization of above market ground lease (226) 0
Common stock issued for services 0 33,000
Restricted stock unit compensation 218,044 99,749
Non-cash ground lease expense 28,936 0
Income on investment in tenancy-in-common (7,090) 0
Dead deal expense 107,371 0
Loss on debt extinguishment 144,029 0
Changes in operating assets and liabilities:    
Accounts receivable (6,136) (20,018)
Other assets (46,187) (39,070)
Deferred rent asset (40,522) (5,624)
Prepaid expenses (126,596) (133,792)
Accounts payable (179,958) 44,652
Accrued expenses 60,568 (80,523)
Right of use liability 23,517 0
Deferred rent liability 57,993 (62,271)
Net cash used in operating activities (127,247) (38,238)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of land, buildings, other tangible and intangible assets (12,780,680) (3,530,810)
Escrow return for purchase of properties 75,000 0
Investment in tenancy-in-common (455,889) 0
Net cash used in investing activities (13,161,569) (3,530,810)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of redeemable interest 1,109,570 1,450,000
Redemption of redeemable non-controlling interests (203,326) 0
Mortgage loan borrowings 17,650,000 2,125,000
Mortgage loan repayments (11,014,986) (225,326)
Stock issuance costs (6,091) 0
Deferred financing costs (87,020) (34,150)
Debt issuance costs (354,432) (39,991)
Insurance financing borrowings 288,693 277,059
Insurance financing repayments (114,215) (172,769)
Distribution on non-controlling interests (241,735) (209,974)
Dividends paid on common stock (678,053) (114,373)
Net cash generated from financing activities 6,348,405 3,055,476
Net decrease in cash and cash equivalents (6,940,411) (513,572)
Cash and cash equivalents and restricted cash - beginning of period 10,624,076 1,122,364
Cash and cash equivalents and restricted cash - end of period 3,683,665 608,792
CASH TRANSACTIONS    
Interest Paid 624,470 629,147
NON-CASH TRANSACTIONS    
Stock issued for cashless exercise of Investor Warrants 373  
Stock issued for accrued liabilities 0 11,000
Deferred distribution on redeemable non-controlling interests 31,734 0
Right of use asset and liability 6,304,334 0
Redemption of redeemable non-controlling interests accrued $ 203,326 $ 0