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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Real Estate $ 105,463,700 $ 20,370,300
Property, Plant and Equipment, net 9,132,900 8,176,000
Right of Use Assets 788,400 873,800
Cash 4,787,700 2,396,500
Restricted Cash 597,600
Prepaid Expense 2,248,100 1,658,000
Accounts Receivable, net 104,800 78,200
Contract Assets, net 4,762,400
Deferred Offering Costs 133,400 65,100
TOTAL ASSETS 128,019,000 33,617,900
LIABILITIES    
Construction Loans, net of Debt Discount of $878,600 and $502,400 respectively 38,682,100 9,590,100
Construction Loans - Related Parties, net of Debt Discount of $1,416,300 and $670,200 respectively 11,376,000 5,819,700
Equipment Loans 5,731,800 5,595,500
Accounts Payable and Accrued Expenses 5,875,800 2,700,000
Operating Lease Liabilities 766,900 841,700
Finance Leases 611,300 999,400
Deferred Revenue 21,700 896,300
Note Payable PPP 19,300
Dividends Payable 210,600
Contract Liability 390,900  
Note Payable D&O Insurance 1,284,000 741,200
TOTAL LIABILITIES 64,951,100 27,203,200
COMMITMENTS AND CONTINGENCIES - SEE NOTE 12  
STOCKHOLDERS’ EQUITY    
Preferred Stock, No Par 10,000,000 shares authorized and 1,260,555 issued and outstanding at September 30, 2021 and 0 outstanding and issued at December 31, 2020 28,661,000
Common Stock, No Par 50,000,000 shares authorized and 14,922,094 outstanding at September 30, 2021 and 5,636,548 issued and outstanding at December 31, 2020 37,057,900 11,956,900
Additional Paid In Capital 668,900 234,800
Accumulated Deficit (2,028,300) (4,487,100)
Total Stockholders’ Equity - Harbor Custom Development, Inc. 64,359,500 7,704,600
Non-Controlling Interest (1,291,600) (1,289,900)
TOTAL STOCKHOLDERS’ EQUITY 63,067,900 6,414,700
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 128,019,000 $ 33,617,900