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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (3,190) $ (1,942)
Adjustments to reconcile net loss to net cash used in operating activities    
Income tax benefit (627) (624)
Depreciation and amortization 4,373 2,455
Minimum return on preferred interests (371) (242)
Gain on extinguishment of debt 0 (757)
Straight-line rent receivable (131) 6
Straight-line rent liability (7) (4)
Stock-based compensation 785 21
Change in fair value of derivatives (1,765) (191)
Bad debt expense 29 55
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable 419 107
Other assets 261 233
Receivables due from related parties 1 (4)
Accounts payable and accrued liabilities 1,193 (1,058)
Payables due to related parties 16 0
Deferred revenues (182) (1)
Net cash provided by (used in) operating activities 804 (1,946)
Cash flows from investing activities    
Capitalized pre-acquisition costs, net of refunds (100) 0
Capital expenditures for real estate (808) (1,148)
Net cash used in investing activities (908) (1,148)
Cash flows from financing activities    
Borrowings under debt agreements 304 13,469
Repayments under debt agreements (863) (9,372)
Debt origination and discount fees (4) (330)
Proceeds from related parties 199 487
Payments to related parties 0 (2)
Net cash (used in) provided by financing activities (364) 4,252
Increase (decrease) in cash, cash equivalents, and restricted cash (468) 1,158
Cash, cash equivalents and restricted cash at beginning of period 11,024 9,983
Cash, cash equivalents and restricted cash at end of period 10,556 11,141
Supplemental Cash Flow Information    
Interest paid 2,460 1,887
Accrued offering costs 457 457
Accrued capital expenditures for real estate 341 192
Accrued pre-acquisition costs 0 133
Accrued deferred loan costs 0 12
Supplemental disclosure of non-cash investing and financing activities    
Forgiveness of Paycheck Protection Program loan 0 757
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 2,251 2,744
Restricted cash 8,305 8,397
Cash, cash equivalents and restricted cash at end of period $ 10,556 $ 11,141