10-Q Filing

GLOBAL MEDICAL REIT INC. CIK: 1533615 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001078782-15-001189`
Period End Date	20150630
Filing Date	20150730
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	gmre-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 44 Cash Flow Statement 48

Balance Sheet 54 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
Land	`Land`	$572.40K	USD	Point-in-time
Land	`Land`	$572.40K	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Building and improvements	`BuildingsAndImprovementsGross`	$23.80M	USD	Point-in-time
Building and improvements	`BuildingsAndImprovementsGross`	$23.80M	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
Total Investment in Real Estate	`TotalInvestmentInRealEstate`	$24.37M	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Investment in Real Estate	`TotalInvestmentInRealEstate`	$24.37M	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
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-329.58K	USD	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-622.92K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$24.04M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$23.75M	USD	Point-in-time
Cash and cash equivalents	`Cash`	$341.42K	USD	Point-in-time
Cash and cash equivalents	`Cash`	$301.40K	USD	Point-in-time
Prepaid expense and other assets	`PrepaidExpenseAndOtherAssets`	$25.02K	USD	Point-in-time
Prepaid expense and other assets	`PrepaidExpenseAndOtherAssets`	$2.79K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$291.69K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$232.10K	USD	Point-in-time
Total assets	`Assets`	$24.64M	USD	Point-in-time
Total assets	`Assets`	$24.35M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$138.23K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$338.76K	USD	Point-in-time
Due to related party, net	`DueToRelatedPartyNet`	$330.77K	USD	Point-in-time
Due to related party, net	`DueToRelatedPartyNet`	$506.72K	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
Notes payable to majority shareholder	`NotesPayableRelatedPartiesClassifiedCurrent`	$38.20K	USD	Point-in-time
Notes payable to majority shareholder	`NotesPayableRelatedPartiesClassifiedCurrent`	$388.19K	USD	Point-in-time
Notes payable related to acquisitions	`NotesPayableRelatedToAcquisitions`	$16.76M	USD	Point-in-time
Notes payable related to acquisitions	`NotesPayableRelatedToAcquisitions`	$16.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.91M	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 June 30, 2015 and December 31, 2014, respectively; 250,000 shares issued and outstanding at June 30, 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 June 30, 2015 and December 31, 2014, respectively; 250,000 shares issued and outstanding at June 30, 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`	$-1.73M	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`	$1.28M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$24.35M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$24.64M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`RealEstateRevenueNet`	$455.90K	USD	1 Quarter
Rental revenue	`RealEstateRevenueNet`	$113.10K	USD	1 Quarter
Rental revenue	`RealEstateRevenueNet`	$910.54K	USD	2 Qtrs
Rental revenue	`RealEstateRevenueNet`	$113.10K	USD	2 Qtrs
Other income	`OtherIncome`	$727.00	USD	1 Quarter
Other income	`OtherIncome`	$7.50K	USD	2 Qtrs
Other income	`OtherIncome`	$727.00	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	1 Quarter
Total revenue	`Revenues`	$113.83K	USD	1 Quarter
Total revenue	`Revenues`	$455.90K	USD	1 Quarter
Total revenue	`Revenues`	$113.83K	USD	2 Qtrs
Total revenue	`Revenues`	$918.04K	USD	2 Qtrs
Management fees	`ManagementFeeExpense`	$90.00K	USD	2 Qtrs
Management fees	`ManagementFeeExpense`	$180.00K	USD	2 Qtrs
Management fees	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$140.78K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$76.47K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$443.08K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$454.51K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$293.34K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$141.01K	USD	1 Quarter
Depreciation expense	`Depreciation`	$38.72K	USD	1 Quarter
Depreciation expense	`Depreciation`	$38.72K	USD	2 Qtrs
Interest expense	`InterestExpense`	$91.01K	USD	2 Qtrs
Interest expense	`InterestExpense`	$280.85K	USD	1 Quarter
Interest expense	`InterestExpense`	$91.01K	USD	1 Quarter
Interest expense	`InterestExpense`	$624.89K	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$588.33K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$674.23K	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$662.80K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.24M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-560.40K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-320.97K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-132.43K	USD	1 Quarter
Net loss	`ProfitLoss`	$-548.98K	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-1.28	USD	2 Qtrs
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-27.45	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-28.02	USD	2 Qtrs
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.53	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
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20,000.00	shares	2 Qtrs
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	2 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-560.40K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-320.97K	USD	2 Qtrs
Depreciation expense	`DepreciationDepletionAndAmortization`	$38.72K	USD	2 Qtrs
Depreciation expense	`DepreciationDepletionAndAmortization`	$293.34K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$59.59K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$7.78K	USD	2 Qtrs
Prepaid expense and other assets	`IncreaseDecreaseInPrepaidExpense`	$-22.23K	USD	2 Qtrs
Prepaid expense and other assets	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-200.54K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$57.78K	USD	2 Qtrs
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$90.00K	USD	2 Qtrs
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$180.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.80K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-366.13K	USD	2 Qtrs
Loans to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-6.00K	USD	2 Qtrs
Loans to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Purchase of land, buildings and improvements	`PaymentsForCapitalImprovements`	-	USD	2 Qtrs
Purchase of land, buildings and improvements	`PaymentsForCapitalImprovements`	$-21.87M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.87M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00K	USD	2 Qtrs
Loans from related party	`ProceedsFromRelatedPartyDebt`	$1.95K	USD	2 Qtrs
Loans from related party	`ProceedsFromRelatedPartyDebt`	$15.96K	USD	2 Qtrs
Proceeds from notes payable to majority shareholder	`ProceedsFromNotesPayableToMajorityShareholder`	$350.00K	USD	2 Qtrs
Proceeds from notes payable to majority shareholder	`ProceedsFromNotesPayableToMajorityShareholder`	$7.81M	USD	2 Qtrs
Payments on notes payable to majority shareholder	`RepaymentsOfNotesPayable`	-	USD	2 Qtrs
Payments on notes payable to majority shareholder	`RepaymentsOfNotesPayable`	$-306.86K	USD	2 Qtrs
Proceeds from notes payable related to acquisitions	`ProceedsFromNotesPayableRelatedToAcquisitions`	$15.06M	USD	2 Qtrs
Proceeds from notes payable related to acquisitions	`ProceedsFromNotesPayableRelatedToAcquisitions`	-	USD	2 Qtrs
Principal payments on notes payable related to acquisitions	`PrincipalPaymentsOnNotesPayableRelatedToAcquisitions`	-	USD	2 Qtrs
Principal payments on notes payable related to acquisitions	`PrincipalPaymentsOnNotesPayableRelatedToAcquisitions`	$-167.33K	USD	2 Qtrs
Dividends paid to common shareholders	`Dividends`	-	USD	2 Qtrs
Dividends paid to common shareholders	`Dividends`	$-127.80K	USD	2 Qtrs
Payment of deferred financing costs	`PaymentOfDeferredFinancingCosts`	-	USD	2 Qtrs
Payment of deferred financing costs	`PaymentOfDeferredFinancingCosts`	$-335.99K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$22.24M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$56.82K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.44K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$40.02K	USD	2 Qtrs
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$301.40K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.94K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.50K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$341.42K	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`	$14.94K	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`	$341.42K	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$690.58K	USD	2 Qtrs
Cash payments for interest	`InterestPaidNet`	-	USD	2 Qtrs

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