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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (3,812,736) $ (4,500,409)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 3,112,510 3,819,842
Amortization of debt issuance costs 119,950 197,573
Stock based compensation expense related to issuance of restricted stock 5,875 4,406
Increase (decrease) in cash, cash equivalents, and restricted cash from changes in assets and liabilities:    
Other assets 171,631 188,449
Accounts payable and accrued liabilities (552,774) 146,034
Due to affiliates 495,291 959,064
Net cash (used in) provided by operating activities (460,253) 814,959
Cash flows from investing activities:    
Additions to real estate (403,682) (2,613,127)
Net cash used in investing activities (403,682) (2,613,127)
Cash flows from financing activities:    
Proceeds from issuance of KeyBank Bridge Loans   1,980,368
Principal payments of KeyBank Bridge Loans (2,099,934)  
Scheduled principal payments of mortgage loans (49,144)  
Debt issuance costs (260,083) (70,496)
Gross proceeds from issuance of common stock 3,313,677 1,915,068
Redemptions of common stock (30,392) (15,300)
Offering costs (91,004) (173,112)
Reimbursement of offering costs by Advisor 245,557  
Distributions paid to common stockholders (1,313,182) (1,151,951)
Distributions paid to Operating Partnership unitholders (3,950) (2,690)
Net cash (used in) provided by financing activities (288,455) 2,481,887
Net change in cash, cash equivalents, and restricted cash (1,152,390) 683,719
Cash, cash equivalents, and restricted cash, beginning of period 11,066,645 11,272,611
Cash, cash equivalents, and restricted cash, end of period 9,914,255 11,956,330
Supplemental disclosures and non-cash transactions:    
Cash paid for interest 2,590,475 2,573,761
Interest capitalized   30,029
Additions to debt issuance costs included in accounts payable and accrued liabilities   135,000
Additions to real estate facilities included in accounts payable and accrued liabilities 63,916 805,263
Proceeds from issuance of common stock previously in accounts payable and accrued liabilities   73,900
Offering costs included in accounts payable and accrued liabilities or due to affiliates 478,776 241,360
Distributions payable 935,479 837,693
Redemptions of common stock included in accounts payable and accrued liabilities   48,600
Issuance of shares pursuant to distribution reinvestment plan $ 625,507 $ 565,651