Real Estate, Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Allowance for Doubtful Accounts

The allowance for doubtful accounts reflects estimates that the Company periodically reviews and revises based on new information, to which revisions may be material. The Company’s allowance for doubtful accounts consists of the following:

Allowance for Doubtful Accounts	Balance at Beginning of Period		Provision for Doubtful Accounts		Write-offs			Balance at End of Period
December 31, 2021		68,911		108,360		(177,2771	)		0
December 31, 2020		63,895		68,911		(63,895	)		68,911

Schedule of Estimated Useful Lives

Property and equipment are recorded at cost and depreciated using the straight-line basis over their estimated useful lives, which are typically as follows:

Asset Class	Estimated Useful Life (in years)
Buildings		39
Building improvements		39
Equipment		7
Computer equipment and software		5
Furniture and fixtures		7

Schedule of Revenue from Contract with Customers

Below is a table that shows the breakdown by percent of revenues related to contracts with residents versus resident fees for support or ancillary services.

	For the years ended December 31,
	2021		%			2020		%
Revenue from contracts with customers:
Resident rent - over time	$	12,104,591		94	%	$	12,287,423		97.1	%
Day care		278,329		2	%		-		-
Amenities and conveniences - point in time		498,755		4	%		368,104		2.9	%
Total revenue from contracts with customers	$	12,881,675				$	12,655,527		100.	%

Schedule of Net Assets Acquired and Liabilities Assumed

The total preliminary purchase price paid in the Merger has been allocated to the net assets acquired and liabilities assumed based on their fair values as of the completion of the Merger. The following summarizes allocation of purchase price paid in the Merger (in thousands, except share and per share amounts):

Number of shares of the combined organization owned by the Company’s pre-merger stockholders		1,276,042
Multiplied by the fair value per share of Superconductor common stock	$	2.65
Fair value of consideration issued to effect the Merger (preliminary)	$	3,381,510
Transaction costs		-
Purchase price	$	3,381,510

The allocation of the purchase price is as follows

Cash acquired	$	259,005
Net assets acquired:
Prepaid expenses		162,434
Inventory		68,000
Investment in AIU real estate (eliminated in consolidation)		1,600,000
Accounts payable and accrued expenses		(298,353	)
Accrued compensation		(1,000,000	)
Debt assumed		(468,040	)
Total net assets		64,041
Fair value of excess of purchase price over net assets acquired – Preliminary Goodwill		3,058,464
Purchase price	$	3,381,510

Schedule of Real Estate, Property and Equipment

Property and equipment, net, consists of the following:

Memory Care Facilities and Corporate

	Estimated Useful Lives	December 31, 2021			December 31, 2020
Land		$	1,255,477		$	1,940,389
Building and building improvements	39 years		4,508,797			7,277,693
Furniture, fixtures, and equipment	3-7 years		5,127,466			2,588,781
Total			10,891,740			11,806,863
Less accumulated depreciation			(3,472,904	)		(2,953,579	)
Real estate, property and equipment, net		$	7,418,835		$	8,853,284

Non-core businesses classified as assets held for sale:

	Estimated Useful Lives	December 31, 2021			December 31, 2020
Land		$	1,688,070		$	4,288,915
Building and building improvements	39 years		466,447			5,898,419
Furniture, fixtures and equipment	5-7 years		-			2,099,568
Other	3-5 years		-			200,969
Total			2,154,517			12,487,871
Less accumulated depreciation			(68,272	)		(4,175,035	)
Real estate, property and equipment, net		$	2,086,245		$	8,312,836