10-Q Filing

GLOBAL MEDICAL REIT INC. CIK: 1533615 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001078782-15-000669`
Period End Date	20150331
Filing Date	20150501
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	scoo-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 22 Cash Flow Statement 38

Balance Sheet 50 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`	$24.37M	USD	Point-in-time
Building and improvements	`BuildingsAndImprovementsGross`	$24.37M	USD	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-481.92K	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
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$24.04M	USD	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$23.89M	USD	Point-in-time
Cash and cash equivalents	`Cash`	$301.40K	USD	Point-in-time
Cash and cash equivalents	`Cash`	$369.11K	USD	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
Accounts receivable	`AccountsReceivableNet`	$2.79K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$403.00	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$261.89K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$291.69K	USD	Point-in-time
Total assets	`Assets`	$24.52M	USD	Point-in-time
Total assets	`Assets`	$24.64M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$338.76K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$113.36K	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrent`	$330.77K	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrent`	$420.77K	USD	Point-in-time
Convertible debenture, due to majority shareholder	`ConvertibleDebtCurrent`	$5.45M	USD	Point-in-time
Convertible debenture, due to majority shareholder	`ConvertibleDebtCurrent`	$5.45M	USD	Point-in-time
Note payable to majority shareholder	`NotesPayableRelatedPartiesClassifiedCurrent`	$38.20K	USD	Point-in-time
Note payable to majority shareholder	`NotesPayableRelatedPartiesClassifiedCurrent`	$388.19K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$16.68M	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$16.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.05M	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
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 shares authorized at March 31, 2015 and December 31, 2014, respectively; 250,000 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$250.00	USD	Point-in-time
Common stock $0.001 par value, 500,000,000 shares authorized at March 31, 2015 and December 31, 2014, respectively; 250,000 shares issued and outstanding at March 31, 2015 and December 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`	$-1.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.47M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.73M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$24.52M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$24.64M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`RealEstateRevenueNet`	-	USD	1 Quarter
Rental revenue	`RealEstateRevenueNet`	$454.64K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	$7.50K	USD	1 Quarter
Total revenue	`Revenues`	$462.14K	USD	1 Quarter
Total revenue	`Revenues`	-	USD	1 Quarter
Management fees	`ManagementFeeExpense`	-	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.43K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$64.31K	USD	1 Quarter
Depreciation expense	`Depreciation`	-	USD	1 Quarter
Depreciation expense	`Depreciation`	$152.34K	USD	1 Quarter
Interest expense	`InterestExpense`	$344.04K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Total expenses	`OperatingExpenses`	$650.68K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$11.43K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.43K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-188.55K	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.57	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.75	USD	1 Quarter
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	1 Quarter
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20,000.00	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.43K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-188.55K	USD	1 Quarter
Depreciation expense	`DepreciationDepletionAndAmortization`	$152.34K	USD	1 Quarter
Depreciation expense	`DepreciationDepletionAndAmortization`	-	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$29.80K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.39K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-3.63K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-225.40K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-937.00	USD	1 Quarter
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$90.00K	USD	1 Quarter
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-16.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-139.43K	USD	1 Quarter
Loans from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$15.96K	USD	1 Quarter
Loans from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from notes payable to majority shareholder	`ProceedsFromNotesPayableToMajorityShareholder`	-	USD	1 Quarter
Proceeds from notes payable to majority shareholder	`ProceedsFromNotesPayableToMajorityShareholder`	$350.00K	USD	1 Quarter
Principal payments on notes payable	`ProceedsFromNotesPayable`	$-78.97K	USD	1 Quarter
Principal payments on notes payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Dividends paid to common shareholders	`Dividends`	-	USD	1 Quarter
Dividends paid to common shareholders	`Dividends`	$-63.90K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.96K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$207.13K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-33.00	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$67.70K	USD	1 Quarter
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.50K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$301.40K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.47K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$369.11K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.50K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$301.40K	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`	$369.11K	USD	Point-in-time
Cash payments for interest (including Convertible Debenture accrued interest)	`InterestPaidNet`	$548.15K	USD	1 Quarter
Cash payments for interest (including Convertible Debenture accrued interest)	`InterestPaidNet`	-	USD	1 Quarter

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