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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
ASSETS    
Real Estate $ 85,217,800 $ 20,370,300
Property, Plant and Equipment, net 8,438,800 8,176,000
Right of Use Assets 877,400 873,800
Cash 12,785,600 2,396,500
Prepaid Expense 847,600 1,658,000
Accounts Receivable, net 61,900 78,200
Contract Assets, net 1,481,500
Deferred Offering Costs 65,100
TOTAL ASSETS 109,710,600 33,617,900
LIABILITIES    
Construction Loans, net of Debt Discount of $1,067,100 and $502,400 respectively 26,456,600 9,590,100
Construction Loans - Related Parties, net of Debt Discount of $1,897,600 and $670,200 respectively 10,352,600 5,819,700
Equipment Loans 5,418,900 5,595,500
Accounts Payable and Accrued Expenses 5,908,000 2,700,000
Operating Lease Liabilities 852,900 841,700
Finance Leases 759,100 999,400
Deferred Revenue 14,500 896,300
Note Payable PPP 2,200 19,300
Dividends Payable 140,100
Note Payable D&O Insurance (0) 741,200
TOTAL LIABILITIES 49,904,900 27,203,200
COMMITMENTS AND CONTINGENCIES - SEE NOTE 10
STOCKHOLDERS’ EQUITY    
Preferred Stock, No Par 10,000,000 shares authorized and 1,260,555 issued and outstanding at June 30, 2021 and 0 outstanding and issued at December 31, 2020 28,661,000
Common Stock, No Par 50,000,000 shares authorized and 14,898,594 issued and outstanding at June 30, 2021 and 5,636,548 issued and outstanding at December 31, 2020 37,057,900 11,956,900
Additional Paid In Capital 483,700 234,800
Accumulated Deficit (5,105,300) (4,487,100)
Total Stockholders’ Equity - Harbor Custom Development, Inc. 61,097,300 7,704,600
Non-Controlling Interest (1,291,600) (1,289,900)
TOTAL STOCKHOLDERS’ EQUITY 59,805,700 6,414,700
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 109,710,600 $ 33,617,900