10-Q Filing

GLOBAL MEDICAL REIT INC. CIK: 1533615 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001078782-15-001722`
Period End Date	20150930
Filing Date	20151103
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	gmre-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 44 Cash Flow Statement 54

Balance Sheet 56 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
Land	`Land`	$572.40K	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Land	`Land`	$1.86M	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
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Building and improvements	`BuildingsAndImprovementsGross`	$34.12M	USD	Point-in-time
Building and improvements	`BuildingsAndImprovementsGross`	$23.80M	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Investment in Real Estate	`RealEstateInvestments`	$24.37M	USD	Point-in-time
Total Investment in Real Estate	`RealEstateInvestments`	$35.98M	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
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-776.07K	USD	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-329.58K	USD	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
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$35.21M	USD	Point-in-time
Cash and cash equivalents	`Cash`	$301.40K	USD	Point-in-time
Cash and cash equivalents	`Cash`	$300.58K	USD	Point-in-time
Tenant receivables	`OtherReceivables`	-	USD	Point-in-time
Tenant receivables	`OtherReceivables`	$25.06K	USD	Point-in-time
Deferred rent receivable and other assets	`ReceivablesNetCurrent`	$1.23K	USD	Point-in-time
Deferred rent receivable and other assets	`ReceivablesNetCurrent`	$2.79K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$339.58K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$291.69K	USD	Point-in-time
Total assets	`Assets`	$24.64M	USD	Point-in-time
Total assets	`Assets`	$35.87M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$315.82K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$338.76K	USD	Point-in-time
Due to related parties, net	`DueFromRelatedPartiesCurrent`	$580.28K	USD	Point-in-time
Due to related parties, net	`DueFromRelatedPartiesCurrent`	$330.77K	USD	Point-in-time
Convertible debenture, due to majority shareholder	`ConvertibleDebtCurrent`	$9.99M	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	`OtherLongTermNotesPayable`	$16.76M	USD	Point-in-time
Notes payable related to acquisitions	`OtherLongTermNotesPayable`	$23.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.16M	USD	Point-in-time
Preferred stock, $0.001 par value, 100,000,000 shares authorized; no shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 100,000,000 shares authorized; no shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 500,000,000 shares authorized at September 30, 2015 and December 31, 2014, respectively; 250,000 shares issued and outstanding at September 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 September 30, 2015 and December 31, 2014, respectively; 250,000 shares issued and outstanding at September 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`	$-1.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.30M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.73M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$715.77K	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$24.64M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$35.87M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`RealEstateRevenueNet`	$408.93K	USD	1 Quarter
Rental revenue	`RealEstateRevenueNet`	$482.13K	USD	1 Quarter
Rental revenue	`RealEstateRevenueNet`	$522.03K	USD	3 Qtrs
Rental revenue	`RealEstateRevenueNet`	$1.39M	USD	3 Qtrs
Other income	`OtherIncome`	$70.00	USD	1 Quarter
Other income	`OtherIncome`	$797.00	USD	3 Qtrs
Other income	`OtherIncome`	$4.97K	USD	1 Quarter
Other income	`OtherIncome`	$12.47K	USD	3 Qtrs
Total revenue	`Revenues`	$487.10K	USD	1 Quarter
Total revenue	`Revenues`	$1.41M	USD	3 Qtrs
Total revenue	`Revenues`	$522.83K	USD	3 Qtrs
Total revenue	`Revenues`	$409.00K	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$180.00K	USD	3 Qtrs
Management fees	`ManagementFeeExpense`	$270.00K	USD	3 Qtrs
Management fees	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$506.45K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$377.81K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$518.59K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$51.94K	USD	1 Quarter
Depreciation expense	`Depreciation`	$177.25K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$153.15K	USD	1 Quarter
Depreciation expense	`Depreciation`	$138.53K	USD	1 Quarter
Depreciation expense	`Depreciation`	$446.49K	USD	3 Qtrs
Interest expense	`InterestExpense`	$363.94K	USD	1 Quarter
Interest expense	`InterestExpense`	$988.83K	USD	3 Qtrs
Interest expense	`InterestExpense`	$314.14K	USD	1 Quarter
Interest expense	`InterestExpense`	$405.14K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$1.27M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$594.61K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$984.89K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.22M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-746.01K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-185.61K	USD	1 Quarter
Net loss	`ProfitLoss`	$-497.79K	USD	1 Quarter
Net loss	`ProfitLoss`	$-818.77K	USD	3 Qtrs
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-7.65	USD	3 Qtrs
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-1.08	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-3.28	USD	3 Qtrs
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-1.99	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`	172,500.00	shares	1 Quarter
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	3 Qtrs
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	97,509.00	shares	3 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-818.77K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-746.01K	USD	3 Qtrs
Depreciation expense	`DepreciationDepletionAndAmortization`	$177.25K	USD	3 Qtrs
Depreciation expense	`DepreciationDepletionAndAmortization`	$446.49K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$36.08K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$89.85K	USD	3 Qtrs
Tenant receivables	`IncreaseDecreaseInReceivables`	-	USD	3 Qtrs
Tenant receivables	`IncreaseDecreaseInReceivables`	$-25.06K	USD	3 Qtrs
Deferred rent receivable and other assets	`IncreaseDecreaseInDividendsReceivable`	$1.57K	USD	3 Qtrs
Deferred rent receivable and other assets	`IncreaseDecreaseInDividendsReceivable`	-	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-44.25K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$186.42K	USD	3 Qtrs
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$180.00K	USD	3 Qtrs
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$270.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-80.17K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-166.27K	USD	3 Qtrs
Loans to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-42.91K	USD	3 Qtrs
Loans to related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-71.68K	USD	3 Qtrs
Purchase of land, buildings and improvements	`PaymentsForCapitalImprovements`	$-11.61M	USD	3 Qtrs
Purchase of land, buildings and improvements	`PaymentsForCapitalImprovements`	$-24.37M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.68M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.42M	USD	3 Qtrs
Loans from related parties	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	$63.00K	USD	3 Qtrs
Loans from related parties	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	$51.20K	USD	3 Qtrs
Proceeds from convertible debenture, due to majority shareholder	`ProceedsFromConvertibleDebt`	$4.55M	USD	3 Qtrs
Proceeds from convertible debenture, due to majority shareholder	`ProceedsFromConvertibleDebt`	$8.38M	USD	3 Qtrs
Proceeds from notes payable to majority shareholder	`ProceedsFromNotesPayable`	$350.00K	USD	3 Qtrs
Proceeds from notes payable to majority shareholder	`ProceedsFromNotesPayable`	$345.05K	USD	3 Qtrs
Payments on notes payable to majority shareholder	`RepaymentsOfNotesPayable`	-	USD	3 Qtrs
Payments on notes payable to majority shareholder	`RepaymentsOfNotesPayable`	$-306.86K	USD	3 Qtrs
Proceeds from notes payable related to acquisitions	`ProceedsFromRepaymentsOfNotesPayable`	$16.76M	USD	3 Qtrs
Proceeds from notes payable related to acquisitions	`ProceedsFromRepaymentsOfNotesPayable`	$7.38M	USD	3 Qtrs
Principal payments on notes payable related to acquisitions	`ProceedsFromSecuredNotesPayable`	-	USD	3 Qtrs
Principal payments on notes payable related to acquisitions	`ProceedsFromSecuredNotesPayable`	$-256.70K	USD	3 Qtrs
Dividends paid to common shareholders	`Dividends`	$-63.92K	USD	3 Qtrs
Dividends paid to common shareholders	`Dividends`	$-170.40K	USD	3 Qtrs
Payment of deferred financing costs	`PaymentOfDeferredFinancingCosts1`	$-357.56K	USD	3 Qtrs
Payment of deferred financing costs	`PaymentOfDeferredFinancingCosts1`	$-137.74K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.76M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.82M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-823.00	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$234.91K	USD	3 Qtrs
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$238.41K	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`	$300.58K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.50K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$238.41K	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`	$300.58K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.50K	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$961.38K	USD	3 Qtrs
Cash payments for interest	`InterestPaidNet`	-	USD	3 Qtrs
Notes payable to majority shareholder converted to equity	`NotesAssumed1`	$2.93M	USD	3 Qtrs
Notes payable to majority shareholder converted to equity	`NotesAssumed1`	-	USD	3 Qtrs

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