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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss attributable to common stockholders $ (5,354) $ (13,853)
Adjustments to reconcile net loss attributable to common stockholders to net cash provided by (used in) operating activities:    
Depreciation and amortization and amortization of deferred finance costs 2,821 2,944
Stock-based compensation expense 271 265
Gain on sale of joint venture real estate (4,490)
Deferred rents receivable (7) (16)
Other non-cash adjustments - pension expense 237 238
Unrealized (gain) loss on warrants (931) 1,910
Equity in net (income) loss from unconsolidated joint ventures (816) 636
Distributions from unconsolidated joint ventures 1,183 425
Loan forgiveness (243)
Decrease (increase) in operating assets:    
Residential condominium units for sale 5,676 (19,479)
Receivables 34 820
Prepaid expenses and other assets, net (1,041) (97)
Increase in operating liabilities:    
Accounts payable and accrued expenses 2,787 3,559
Net cash provided by (used in) operating activities 370 (22,891)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to real estate (68) (56)
Proceeds from sale of unconsolidated joint venture 17,418
Net cash provided by (used in) investing activities 17,350 (56)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loans and corporate credit facility 4,666 74,486
Proceeds from secured line of credit 1,200
Payment of finance costs (2,231)
Repayment of loans (27,049) (56,413)
Repayment of secured line of credit (3,500)
Settlement of stock awards (291) (369)
Net cash (used in) provided by financing activities (26,174) 16,673
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (8,454) (6,274)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 24,845 16,069
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 16,391 9,795
CASH AND CASH EQUIVALENTS, BEGINNING PERIOD 4,310 6,515
RESTRICTED CASH, BEGINNING OF PERIOD 20,535 9,554
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 24,845 16,069
CASH AND CASH EQUIVALENTS, END OF PERIOD 3,112 2,169
RESTRICTED CASH, END OF PERIOD 13,279 7,626
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 16,391 9,795
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the period for: Interest 4,970 8,564
Cash paid during the period for: Taxes 251 49
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Capitalized amortization of deferred financing costs and warrants 1,272 1,501
Capitalized stock-based compensation expense $ 27 $ 70