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Note 3 - MedAmerica Properties Inc. Merger
12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
MedAmerica Properties Inc. Merger

Note 3- MedAmerica Properties Inc. Merger

As described in Note 1 under the heading Merger with MedAmerica Properties Inc.”, BSR merged with a wholly owned subsidiary of MedAmerica on December 27, 2019, with BSR surviving. The Merger was accounted for as a reverse acquisition with BSR as the accounting acquirer. The primary pre-combination asset of MedAmerica was cash. Under reverse recapitalization accounting, the assets and liabilities of MedAmerica were recorded at their fair value. Consequently, the consolidated financial statements of Broad Street Realty, Inc. reflect the operations of BSR for accounting purposes together with a deemed issuance of shares, equivalent to the shares held by the former stockholders of the legal acquirer and a recapitalization of the equity of the accounting acquirer.

As part of the reverse acquisition, the Company acquired less than $0.1 million of cash and cash equivalents. The Company also assumed payables and accruals of less than $0.1 million. The Company incurred approximately $0.8 million and $0.2 million in costs associated with the merger that have been expensed under the heading “Merger-related expense” on the Consolidated Statement of Operations during the years ended December 31, 2019 and December 31, 2018, respectively.