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Consolidated Statements of Cash Flows (unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASHFLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 16,460 $ (997,115)
Adjustments to reconcile net income (loss) to cash provided by operating activities    
Depreciation 833,291 776,070
Amortization of acquired lease intangible assets 331,547 307,847
Amortization of debt issuance costs 94,600 106,210
Amortization of below market leases (115,921) (82,123)
Common stock issued in lieu of cash compensation 33,000  
Restricted stock unit compensation 153,636 74,338
Equity in earnings on investment in tenancy-in-common (4,750)  
Gain on sale of property (923,178)  
Changes in operating assets and liabilities    
Accounts receivable (29,314) (168)
Other assets (30,275) (35,636)
Deferred rent asset (18,773) (1,510)
Prepaid expenses (86,487) (103,223)
Accounts payable 38,176 29,503
Accrued expenses (116,544) 64,173
Deferred rent liability (2,790) 38,333
Net cash provided by operating activities 172,678 176,699
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of land, buildings, other tangible and intangible assets (3,530,809) (196,016)
Investment in tenancy-in-common (712,587)  
Proceeds from sale of land, buildings, other tangible and intangible assets 5,245,858  
Net cash provided by (used in) investing activities 1,002,462 (196,016)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of stock and warrants, net 14,379,505  
Proceeds from issuance of redeemable interest 2,100,000  
Mortgage loan repayments - related party (1,100,000) (800,000)
Mortgage loan borrowings 2,125,000 11,287,500
Mortgage loan repayments (3,771,333) (10,024,198)
Deferred financing costs paid in cash   (153,239)
Debt issuance costs paid in cash (39,991) (564,857)
Insurance financing borrowings 277,059 189,153
Insurance financing repayments (218,832) (145,749)
Distribution on redeemable non-controlling interests (389,093) (334,718)
Dividends paid on common stock (230,680) (210,185)
Net cash generated from (used in) financing activities 11,931,635 (756,293)
Redemption of redeemable non-controlling interests (1,200,000)  
Net increase (decrease) in cash and cash equivalents 13,106,775 (775,610)
Cash and cash equivalents and restricted cash - beginning of period 1,122,364 1,398,365
Cash and cash equivalents and restricted cash - end of period 14,229,139 622,755
CASH TRANSACTIONS    
Interest Paid 938,984 940,316
NON-CASH TRANSACTIONS    
Stock issued for accrued liabilities 11,000  
Deferred financing costs incurred on account   $ 182,697
Deferred distribution on redeemable non-controlling interests 20,597  
Accounts payable - related party for redemption of common stock shares $ 100