XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (8,530) $ (7,113)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Income tax benefit (2,309) (2,316)
Depreciation and amortization 13,081 9,006
Minimum multiple on preferred interests (929) 45
Gain on extinguishment of debt 0 (1,530)
Straight-line rent receivable (619) (291)
Straight-line rent liability (26) (22)
Stock-based compensation 1,566 220
Change in fair value of derivatives (3,819) (261)
Bad debt expense 47 15
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable 262 479
Other assets (815) (110)
Due from related parties 201 (19)
Accounts payable and accrued liabilities 2,439 (1,871)
Due to related parties 10 (6)
Deferred revenues (166) (220)
Net cash provided by (used in) operating activities 393 (3,994)
Cash flows from investing activities    
Acquisitions of real estate, net of cash and restricted cash received 0 2,470
Capitalized pre-acquisition costs, net of refunds (756) 0
Capital expenditures for real estate (3,792) (2,067)
Net cash (used in) provided by investing activities (4,548) 403
Cash flows from financing activities    
Borrowings under debt agreements 2,000 17,960
Repayments under debt agreements (2,086) (12,734)
Taxes remitted upon vesting of restricted stock 0 (21)
Debt origination and discount fees (4) (731)
Proceeds from related parties 594 671
Payments to related parties (617) (523)
Net cash (used in) provided by financing activities (113) 4,622
(Decrease) increase in cash, cash equivalents, and restricted cash (4,268) 1,031
Cash, cash equivalents and restricted cash at beginning of period 11,024 9,983
Cash, cash equivalents and restricted cash at end of period 6,756 11,014
Supplemental Cash Flow Information    
Interest paid 7,696 6,029
Taxes paid, net of refunds 17 (171)
Accrued acquisition costs   560
Accrued capital expenditures for real estate 514 346
Accrued pre-acquisition costs 34 91
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   1,530
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 1,559 2,388
Restricted cash 5,197 8,626
Cash, cash equivalents and restricted cash at end of period $ 6,756 $ 11,014