10-KT Filing

GLOBAL MEDICAL REIT INC. CIK: 1533615 FY 2014

Filing Information

Form Type	10-KT
Accession Number	`0001078782-15-000408`
Period End Date	20141231
Filing Date	20150320
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	scoo-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 38 Cash Flow Statement 64 Stockholders Equity 15

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Building and improvements	`BuildingsAndImprovementsGross`	$21.87M	USD	Point-in-time
Building and improvements	`BuildingsAndImprovementsGross`	$24.37M	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-329.58K	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-129.08K	USD	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$24.04M	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$21.74M	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	250,000.00	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	250,000.00	shares	Point-in-time
Cash	`Cash`	$286.52K	USD	Point-in-time
Cash	`Cash`	$162.99K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$2.79K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Escrow deposits	`EscrowDeposit`	$14.94K	USD	Point-in-time
Escrow deposits	`EscrowDeposit`	$14.88K	USD	Point-in-time
Prepaid expense	`PrepaidExpenseCurrentAndNoncurrent`	$19.31K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$291.69K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$309.54K	USD	Point-in-time
Total assets	`Assets`	$22.24M	USD	Point-in-time
Total assets	`Assets`	$24.64M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$338.76K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$176.15K	USD	Point-in-time
Due to related party, net	`DueToRelatedPartiesCurrent`	$213.00K	USD	Point-in-time
Due to related party, net	`DueToRelatedPartiesCurrent`	$330.77K	USD	Point-in-time
Convertible debenture, due to majority shareholder	`ConvertibleDebtCurrent`	$4.54M	USD	Point-in-time
Convertible debenture, due to majority shareholder	`ConvertibleDebtCurrent`	$5.45M	USD	Point-in-time
Note payable to majority shareholder	`NotePayableToMajorityShareholder`	$38.20K	USD	Point-in-time
Note payable to majority shareholder	`NotePayableToMajorityShareholder`	$38.20K	USD	Point-in-time
Notes payable	`NotesPayable`	$15.06M	USD	Point-in-time
Notes payable	`NotesPayable`	$16.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.02M	USD	Point-in-time
Preferred stock, $0.001 par value, 100,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 500,000,000 and 100,000,000 shares authorized at December 31, 2014 and August 31, 2014, respectively; 250,000 shares issued and outstanding at December 31, 2014 and August 31, 2014, respectively	`CommonStockValue`	$250.00	USD	Point-in-time
Common stock $0.001 par value, 500,000,000 and 100,000,000 shares authorized at December 31, 2014 and August 31, 2014, respectively; 250,000 shares issued and outstanding at December 31, 2014 and August 31, 2014, respectively	`CommonStockValue`	$250.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-790.73K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.73M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$2.22M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$22.24M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$24.64M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`RealEstateRevenueNet`	$596.59K	USD	1 Quarter
Rental revenue	`RealEstateRevenueNet`	$379.68K	USD	Annual
Other income	`OtherIncome`	$727.00	USD	Annual
Other income	`OtherIncome`	$71.00	USD	1 Quarter
Total revenue	`Revenues`	$380.40K	USD	Annual
Total revenue	`Revenues`	$596.66K	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$150.00K	USD	Annual
Management fees	`ManagementFeeExpense`	$120.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.18K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$231.33K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$454.87K	USD	Annual
Depreciation expense	`Depreciation`	$200.50K	USD	1 Quarter
Depreciation expense	`Depreciation`	$129.08K	USD	Annual
Interest expense	`InterestExpense`	$298.66K	USD	Annual
Interest expense	`InterestExpense`	$454.70K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.01M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$12.18K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.03M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-12.18K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-652.21K	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-409.87K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-45.34K	USD	Annual
Net loss	`ProfitLoss`	$-45.34K	USD	Annual
Net loss	`ProfitLoss`	$-409.87K	USD	1 Quarter
Net loss	`ProfitLoss`	$-652.21K	USD	Annual
Net loss	`ProfitLoss`	$-12.18K	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperations`	$-1.64	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperations`	$-13.49	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperations`	$-0.61	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-2.32	USD	Annual
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.61	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-13.49	USD	Annual
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-2.32	USD	Annual
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-1.64	USD	1 Quarter
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	48,356.00	shares	Annual
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	1 Quarter
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19,572.00	shares	Annual
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20,000.00	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-45.34K	USD	Annual
Net loss	`NetIncomeLoss`	$-652.21K	USD	Annual
Net loss	`NetIncomeLoss`	$-409.87K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.18K	USD	1 Quarter
Depreciation expense	`DepreciationDepletionAndAmortization`	$129.08K	USD	Annual
Depreciation expense	`DepreciationDepletionAndAmortization`	$200.50K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$39.43K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$26.44K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.79K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$19.31K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-19.31K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$11.54K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$162.61K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$157.11K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$6.62K	USD	1 Quarter
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$150.00K	USD	Annual
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$120.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$129.18K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-208.88K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.57K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-33.79K	USD	Annual
Escrow deposits for purchase of properties	`PaymentsForDeposits`	$-14.94K	USD	Annual
Escrow deposits for purchase of properties	`PaymentsForDeposits`	$62.00	USD	1 Quarter
Loans to related party	`ProceedsFromRelatedPartyDebt`	$-42.91K	USD	1 Quarter
Purchase of buildings and improvements	`PaymentsForCapitalImprovements`	$-21.87M	USD	Annual
Purchase of buildings and improvements	`PaymentsForCapitalImprovements`	$-2.51M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.88M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.55M	USD	1 Quarter
Loans from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$40.68K	USD	1 Quarter
Loans from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$62.62K	USD	Annual
Loans from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$5.51K	USD	1 Quarter
Proceeds from issuance of common shares	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	Annual
Proceeds from convertible debenture to majority shareholder	`ProceedsFromConvertibleDebt`	$7.47M	USD	Annual
Proceeds from convertible debenture to majority shareholder	`ProceedsFromConvertibleDebt`	$910.00K	USD	1 Quarter
Proceeds from note payable to majority shareholder	`ProceedsFromNotePayableToMajorityShareholder`	-	USD	1 Quarter
Proceeds from note payable to majority shareholder	`ProceedsFromNotePayableToMajorityShareholder`	$345.05K	USD	Annual
Payment on note payable to former shareholder	`RepaymentsOfNotesPayable`	$-306.86K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$1.70M	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$15.06M	USD	Annual
Payment of deferred financing costs	`PaymentOfDeferredFinancingCosts`	$-335.99K	USD	Annual
Payment of deferred financing costs	`PaymentOfDeferredFinancingCosts`	$-21.58K	USD	1 Quarter
Dividends paid to shareholders	`Dividends`	$-85.20K	USD	1 Quarter
Dividends paid to shareholders	`Dividends`	$-42.62K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.51K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$25.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.54M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$22.25M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-53.00	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.79K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$159.47K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$123.54K	USD	1 Quarter
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.47K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.52K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$162.99K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.31K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$286.52K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.47K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.52K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$162.99K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.31K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$286.52K	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$270.78K	USD	1 Quarter
Cash payments for interest	`InterestPaidNet`	$117.08K	USD	Annual
Notes payable to majority shareholder converted to equity	`NotesPayableToMajorityShareholderConvertedToEquity`	$2.93M	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balances,	`SharesOutstanding`	2.22M	shares	Point-in-time
Balances,	`SharesOutstanding`	-15,905.00	shares	Point-in-time
Balances,	`SharesOutstanding`	4,433.00	shares	Point-in-time
Balances,	`SharesOutstanding`	1.73M	shares	Point-in-time
Balances,	`SharesOutstanding`	2.22M	shares	Point-in-time
Balances,	`SharesOutstanding`	-15,905.00	shares	Point-in-time
Balances,	`SharesOutstanding`	4,433.00	shares	Point-in-time
Balances,	`SharesOutstanding`	1.73M	shares	Point-in-time
Net loss	`NetLoss`	$-45.34K	USD	Annual
Common shares issued for cash	`CommonSharesIssuedForCash`	25,000.00	shares	Annual
Net loss	`NetLoss1`	$-652.21K	USD	Annual
Common shares issued upon conversion of debt	`CommonSharesIssuedUponConversionOfDebt`	2.93M	shares	Annual
Dividends to shareholders	`DividendsToShareholders`	$-42.62K	USD	Annual
Net loss	`NetLoss2`	$-409.87K	USD	1 Quarter
Dividends to shareholders	`DividendsToShareholders1`	$-85.20K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.