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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Nov. 23, 2019
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2021
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
[1]
Dec. 31, 2019
[1]
Revenues                  
Rental revenues   $ 967 $ 577 $ 447 $ 1,024 $ 1,991 $ 3,225 $ 1,563 $ 4,631
Other income   30 256 46 302 332 355 263 0
Sale of residential condominium units   1,428       1,428 23,685 0 0
Total revenues   2,425 833 493 1,326 3,751 27,265 1,826 4,631
Operating Expenses                  
Property operating expenses   897 1,888   3,795 4,692 5,583 9,120 7,140
Real estate taxes   271 79 79 158 429 724 254 510
General and administrative   1,440 1,387 1,243 2,630 4,070 5,133 5,217 5,677
Pension related costs   158 162 163 325 483 67 345 733
Cost of sale - residential condominium units   1,395       1,395 22,370 0 0
Transaction related costs             0 133 167
Depreciation and amortization   1,001 1,000 1,000 2,000 3,001 4,003 3,907 4,118
Total operating expenses   5,162 4,516 4,392 8,908 14,070 37,880 18,976 18,345
Gain on sale of school condominium             0 24,196 0
Gain on sale of real estate $ (9,500)           0 0 9,521
Operating (loss) income   (2,737) (3,683) (3,899) (7,582) (10,319) (10,615) 7,046 (4,193)
Equity in net loss from unconsolidated joint ventures     (264) (372) (636) (636) (555) (1,571) (819)
Unrealized gain on warrants   1,718 67 (1,977) (1,910) (192) 73 965 0
Interest expense, net   (2,367) (1,772) (875) (2,647) (5,014) (7,922) (1,540) (113)
Interest expense - amortization of deferred finance costs   (269) (683) (261) (944) (1,213) (1,521) (261) (39)
(Loss) income before taxes   (3,655) (6,335) (7,384) (13,719) (17,374) (20,540) 4,639 (5,164)
Tax expense   47 (99) (35) (134) (87) (265) (306) (128)
Net (loss) income attributable to common stockholders   (3,608) (6,434) (7,419) (13,853) (17,461) (20,805) 4,333 (5,292)
Other comprehensive (loss) income:                  
Unrealized gain on pension liability   119 118 119 237 356 816 1,015 344
Comprehensive (loss) income attributable to common stockholders   $ (3,489) $ (6,316) $ (7,300) $ (13,616) $ (17,105) $ (19,989) $ 5,348 $ (4,948)
(Loss) income per share - basic   $ (0.11) $ (0.20) $ (0.23) $ (0.42) $ (0.53) $ (0.62) $ 0.13 $ (0.17)
(Loss) income per share - diluted   $ (0.11) $ (0.20) $ (0.23) $ (0.42) $ (0.53) $ (0.62) $ 0.13 $ (0.17)
Weighted average number of common shares - basic   32,756 32,694 32,591 32,643 32,681 33,322 32,305 31,915
Weighted average number of common shares - diluted   32,756 32,694 32,591 32,643 32,681 33,322 32,860 31,915
[1] Amounts are revised. See Note 3 for more information.