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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net loss $ (6,088) $ (5,071)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Income tax benefit (1,514) (1,643)
Depreciation and amortization 8,717 5,352
Minimum return on preferred interests (747) 424
Gain on extinguishment of debt 0 (757)
Straight-line rent receivable (385) (282)
Straight-line rent liability (16) (14)
Stock-based compensation 1,185 144
Change in fair value of derivatives (2,570) (211)
Bad debt expense 35 46
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable (232) 653
Other assets 504 703
Receivables due from related parties 1 (18)
Accounts payable and accrued liabilities 2,027 (2,629)
Payables due to related parties 12 (6)
Deferred revenues (165) (152)
Net cash provided by (used in) operating activities 764 (3,461)
Cash flows from investing activities    
Acquisitions of real estate, net of cash and restricted cash received 0 2,377
Capitalized pre-acquisition costs, net of refunds 50 0
Capital expenditures for real estate (2,039) (1,882)
Net cash (used in) provided by investing activities (1,989) 495
Cash flows from financing activities    
Borrowings under debt agreements 1,750 17,908
Repayments under debt agreements (1,480) (12,076)
Taxes remitted upon vesting of restricted stock 0 (21)
Debt origination and discount fees (4) (675)
Proceeds from related parties 783 671
Payments to related parties (183) (488)
Net cash provided by financing activities 866 5,319
(Decrease) increase in cash, cash equivalents, and restricted cash (359) 2,353
Cash, cash equivalents and restricted cash at beginning of period 11,024 9,983
Cash, cash equivalents and restricted cash at end of period 10,665 12,336
Supplemental Cash Flow Information    
Interest paid 5,028 3,648
Taxes paid, net of refunds 10 2
Accrued acquisition costs   560
Accrued offering costs 457 457
Accrued capital expenditures for real estate 370 275
Accrued pre-acquisition costs   91
Accrued deferred loan costs   43
Supplemental disclosure of non-cash investing and financing activities    
Acquisition of real estate and other net assets   (39,552)
Common shares issued in mergers   8,038
Debt assumed in mergers   31,514
Forgiveness of Paycheck Protection Program loan   757
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 2,388 3,072
Restricted cash 8,277 9,264
Cash, cash equivalents and restricted cash at end of period $ 10,665 $ 12,336