10-K Filing

GLOBAL MEDICAL REIT INC. CIK: 1533615 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001078782-16-002445`
Period End Date	20151231
Filing Date	20160321
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	gmre-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 24 Cash Flow Statement 54 Stockholders Equity 10

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Notes payable, unamortized discount	`DebtInstrumentUnamortizedDiscount`	$291.69K	USD	Point-in-time
Notes payable, unamortized discount	`DebtInstrumentUnamortizedDiscount`	$302.89K	USD	Point-in-time
Land	`Land`	$572.40K	USD	Point-in-time
Land	`Land`	$4.56M	USD	Point-in-time
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
Building and improvements	`BuildingsAndImprovementsGross`	$51.57M	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Building and improvements	`BuildingsAndImprovementsGross`	$23.80M	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Investment in real estate, gross	`RealEstateInvestmentPropertyAtCost`	$56.14M	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Investment in real estate, gross	`RealEstateInvestmentPropertyAtCost`	$24.37M	USD	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-989.25K	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
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-329.58K	USD	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$55.15M	USD	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$24.04M	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
Cash	`Cash`	$9.18M	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
Cash	`Cash`	$88.81K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$197.72K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$447.63K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$2.79K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	-	USD	Point-in-time
Escrow deposits	`EscrowDeposit`	$454.31K	USD	Point-in-time
Escrow deposits	`EscrowDeposit`	$14.88K	USD	Point-in-time
Deferred assets	`DeferredCostsAndOtherAssets`	-	USD	Point-in-time
Deferred assets	`DeferredCostsAndOtherAssets`	$93.65K	USD	Point-in-time
Total assets	`Assets`	$24.35M	USD	Point-in-time
Total assets	`Assets`	$65.33M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$683.86K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$338.76K	USD	Point-in-time
Due to related party, net	`DueToRelatedPartiesCurrentAndNoncurrent`	$847.17K	USD	Point-in-time
Due to related party, net	`DueToRelatedPartiesCurrentAndNoncurrent`	$330.77K	USD	Point-in-time
Convertible debenture, due to majority stockholder	`ConvertibleDebt`	$5.45M	USD	Point-in-time
Convertible debenture, due to majority stockholder	`ConvertibleDebt`	$40.03M	USD	Point-in-time
Note payable to majority stockholder	`NotesPayableRelatedPartiesClassifiedCurrent`	$421.00K	USD	Point-in-time
Note payable to majority stockholder	`NotesPayableRelatedPartiesClassifiedCurrent`	$38.20K	USD	Point-in-time
Notes payable, net of unamortized discount of $302,892 and $291,691, respectively	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$23.49M	USD	Point-in-time
Notes payable, net of unamortized discount of $302,892 and $291,691, respectively	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$16.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$65.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.62M	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 December 31, 2015 and December 31, 2014, respectively; 250,000 shares issued and outstanding at December 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 December 31, 2015 and December 31, 2014, respectively; 250,000 shares issued and outstanding at December 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`	$-1.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.15M	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$-138.61K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$1.73M	USD	Point-in-time
Total liabilities and stockholders' (deficit) equity	`LiabilitiesAndStockholdersEquity`	$65.33M	USD	Point-in-time
Total liabilities and stockholders' (deficit) equity	`LiabilitiesAndStockholdersEquity`	$24.35M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`RealEstateRevenueNet`	$2.05M	USD	Annual
Rental revenue	`RealEstateRevenueNet`	$596.59K	USD	1 Quarter
Other income	`OtherIncome`	$12.47K	USD	Annual
Other income	`OtherIncome`	$71.00	USD	1 Quarter
Total revenue	`Revenues`	$2.06M	USD	Annual
Total revenue	`Revenues`	$596.66K	USD	1 Quarter
Acquisition fees - related party	`AcquisitionFeesRelatedParty`	$48.40K	USD	1 Quarter
Acquisition fees - related party	`AcquisitionFeesRelatedParty`	$627.00K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$505.14K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$182.93K	USD	1 Quarter
Management fees - related party	`ManagementFeeExpense`	$120.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeExpense`	$360.00K	USD	Annual
Depreciation expense	`Depreciation`	$659.67K	USD	Annual
Depreciation expense	`Depreciation`	$200.50K	USD	1 Quarter
Interest expense	`InterestExpense`	$454.70K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.52M	USD	Annual
Total expenses	`OperatingExpenses`	$1.01M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.67M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.61M	USD	Annual
Net loss	`NetIncomeLoss`	$-409.87K	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-1.64	USD	1 Quarter
Net loss per share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-6.44	USD	Annual
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	Annual
Weighted average shares outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.61M	USD	Annual
Net loss	`NetIncomeLoss`	$-409.87K	USD	1 Quarter
Depreciation expense	`DepreciationDepletionAndAmortization`	$659.67K	USD	Annual
Depreciation expense	`DepreciationDepletionAndAmortization`	$200.50K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$126.53K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$39.43K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.79K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.79K	USD	Annual
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$19.31K	USD	1 Quarter
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-93.65K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$162.61K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$345.09K	USD	Annual
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$120.00K	USD	1 Quarter
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$360.00K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-208.80K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$129.18K	USD	1 Quarter
Escrow deposits for purchase of properties	`EscrowDepositsForPurchaseOfProperties`	$-439.43K	USD	Annual
Escrow deposits for purchase of properties	`EscrowDepositsForPurchaseOfProperties`	$62.00	USD	1 Quarter
Loans to related party	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	$42.91K	USD	1 Quarter
Loans to related party	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	$135.20K	USD	Annual
Purchase of buildings and improvements	`PaymentsToAcquireBuildings`	$-31.76M	USD	Annual
Purchase of buildings and improvements	`PaymentsToAcquireBuildings`	$-2.51M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-32.34M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.55M	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-249.91K	USD	Annual
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-60.22K	USD	1 Quarter
Loans from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$291.60K	USD	Annual
Loans from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$40.68K	USD	1 Quarter
Proceeds from convertible debenture to majority stockholder	`ProceedsFromConvertibleDebt`	$34.58M	USD	Annual
Proceeds from convertible debenture to majority stockholder	`ProceedsFromConvertibleDebt`	$910.00K	USD	1 Quarter
Proceeds from note payable to majority stockholder	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds from note payable to majority stockholder	`ProceedsFromNotesPayable`	$382.81K	USD	Annual
Proceeds from notes payable from acquisitions	`ProceedsFromSecuredNotesPayable`	$1.70M	USD	1 Quarter
Proceeds from notes payable from acquisitions	`ProceedsFromSecuredNotesPayable`	$7.38M	USD	Annual
Payments on notes payable from acquisitions	`RepaymentsOfNotesPayable`	$349.44K	USD	Annual
Payments on notes payable from acquisitions	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Payments of deferred financing costs	`PaymentsOfDeferredFinancingCosts`	$-21.58K	USD	1 Quarter
Payments of deferred financing costs	`PaymentsOfDeferredFinancingCosts`	$-137.74K	USD	Annual
Dividends paid to stockholders	`DividendsCash`	$-255.60K	USD	Annual
Dividends paid to stockholders	`DividendsCash`	$-85.20K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$41.64M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.48M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$63.32K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$9.10M	USD	Annual
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$88.81K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	USD	Point-in-time
Cash and cash equivalents-beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$25.48K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$88.81K	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	USD	Point-in-time
Cash and cash equivalents-end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.48K	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$1.17M	USD	Annual
Cash payments for interest	`InterestPaidNet`	$270.78K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`SharesOutstanding`	2.22M	shares	Point-in-time
Balance	`Balance`	1.73M	shares	Point-in-time
Balance	`Balance1`	-138,608.00	shares	Point-in-time
Balance	`SharesOutstanding`	2.22M	shares	Point-in-time
Net loss	`NetLoss`	$-409.87K	USD	1 Quarter
Dividends to stockholders	`StockIssuedDuringPeriodValueStockDividend`	$-85.20K	USD	1 Quarter
Balance	`Balance`	1.73M	shares	Point-in-time
Net loss	`NetLoss1`	$-1.61M	USD	Annual
Dividends to stockholders	`DividendsToStockholders`	$-255.60K	USD	Annual
Balance	`Balance1`	-138,608.00	shares	Point-in-time

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