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Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASHFLOWS FROM OPERATING ACTIVITIES    
Net loss $ (445,513) $ (321,703)
Adjustments to reconcile net loss to cash used in operating activities    
Depreciation 316,901 277,311
Amortization of acquired lease intangible assets 113,992 102,200
Amortization of debt issuance costs 33,673 31,103
Amortization of below market leases (23,841) (33,161)
Amortization of above market ground lease (43) 0
Common stock issued for services   33,000
Restricted stock unit compensation 93,926 49,471
Ground lease amortization 7,247  
Equity in earnings on investment in tenancy-in-common (8,553)  
Changes in operating assets and liabilities:    
Accounts receivable (6,753) (6,360)
Other assets (83,704) (39,673)
Deferred rent asset (17,522) 9,377
Prepaid expenses (257,117) (252,584)
Accounts payable (106,911) (50,579)
Accrued expenses 145,290 (6,370)
Right of use liability 9,620  
Deferred rent liability 18,808 (9,741)
Net cash used in operating activities (210,500) (217,709)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of land, buildings, other tangible and intangible assets (12,775,600) (1,758,322)
Escrow return (deposit) for purchase of properties 75,000 (25,000)
Net cash used in investing activities (12,700,600) (1,783,322)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of redeemable interest 1,109,570 500,000
Mortgage loan borrowings 6,250,000 1,275,000
Mortgage loan repayments (146,254) (88,021)
Stock issuance costs (6,091)  
Deferred financing costs (165) (14,000)
Debt issuance costs (78,878) (22,662)
Insurance financing borrowings 288,693 277,059
Insurance financing repayments (33,359) (83,743)
Distribution on redeemable non-controlling interests (119,241) (150,826)
Dividends paid on common stock (334,799) (114,373)
Net cash generated from financing activities 6,929,476 1,578,434
Net decrease in cash and cash equivalents (5,981,624) (422,597)
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 4,642,452 699,767
CASH TRANSACTIONS    
Interest Paid 284,569 317,003
NON-CASH TRANSACTIONS    
Stock issued for accrued liabilities   $ 11,000
Deferred distribution on redeemable non-controlling interests 15,780  
Right of use asset and liability for ground lease related to property acquisition $ 6,304,334