10-Q Filing

GLOBAL MEDICAL REIT INC. CIK: 1533615 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-099739`
Period End Date	20160331
Filing Date	20160509
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	gmre-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 24 Cash Flow Statement 65

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Notes payable, net of unamortized discount	`DebtInstrumentUnamortizedDiscount`	$302.89K	USD	Point-in-time
Notes payable, net of unamortized discount	`DebtInstrumentUnamortizedDiscount`	$1.30M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Land	`Land`	$7.04M	USD	Point-in-time
Land	`Land`	$4.56M	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	`InvestmentBuildingAndBuildingImprovements`	$87.04M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Building and improvements	`InvestmentBuildingAndBuildingImprovements`	$51.57M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Real Estate Investment Property, at Cost, Total	`RealEstateInvestmentPropertyAtCost`	$94.08M	USD	Point-in-time
Real Estate Investment Property, at Cost, Total	`RealEstateInvestmentPropertyAtCost`	$56.14M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.39M	USD	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$989.25K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$55.15M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$92.70M	USD	Point-in-time
Cash	`Cash`	$305.37K	USD	Point-in-time
Cash	`Cash`	$88.81K	USD	Point-in-time
Cash	`Cash`	$9.18M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	250,000.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.43M	shares	Point-in-time
Cash	`Cash`	$507.28K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$447.63K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$1.28M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.43M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Tenant receivables	`AccountsReceivableNet`	$261.95K	USD	Point-in-time
Tenant receivables	`AccountsReceivableNet`	-	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrentAndNoncurrent`	-	USD	Point-in-time
Prepaid assets	`PrepaidExpenseCurrentAndNoncurrent`	$27.93K	USD	Point-in-time
Escrow deposits	`DepositsAssets`	$889.52K	USD	Point-in-time
Escrow deposits	`DepositsAssets`	$454.31K	USD	Point-in-time
Deferred assets	`DeferredCostsAndOtherAssets`	$93.65K	USD	Point-in-time
Deferred assets	`DeferredCostsAndOtherAssets`	$436.07K	USD	Point-in-time
Total assets	`Assets`	$65.33M	USD	Point-in-time
Total assets	`Assets`	$96.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$683.86K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$1.57M	USD	Point-in-time
Security deposits	`SecurityDepositLiability`	$319.50K	USD	Point-in-time
Security deposits	`SecurityDepositLiability`	-	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrentAndNoncurrent`	$847.17K	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrentAndNoncurrent`	$1.07M	USD	Point-in-time
Convertible debenture, due to majority stockholder	`ConvertibleDebt`	$25.03M	USD	Point-in-time
Convertible debenture, due to majority stockholder	`ConvertibleDebt`	$40.03M	USD	Point-in-time
Note payable to majority stockholder	`DueToOfficersOrStockholdersCurrentAndNoncurrent`	$421.00K	USD	Point-in-time
Note payable to majority stockholder	`DueToOfficersOrStockholdersCurrentAndNoncurrent`	$421.00K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$450.00K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	-	USD	Point-in-time
Notes payable, net of unamortized discount of $1,302,730 and $302,892, respectively	`NotesPayable`	$23.49M	USD	Point-in-time
Notes payable, net of unamortized discount of $1,302,730 and $302,892, respectively	`NotesPayable`	$54.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$83.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$65.47M	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, 2016 and December 31, 2015, respectively; 1,426,656 and 250,000 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$1.43K	USD	Point-in-time
Common stock $0.001 par value, 500,000,000 shares authorized at March 31, 2016 and December 31, 2015, respectively; 1,426,656 and 250,000 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$250.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$18.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.01M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.26M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.15M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-138.61K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$12.75M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$96.10M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$65.33M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$1.30M	USD	1 Quarter
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$454.64K	USD	1 Quarter
Other income	`OtherRealEstateRevenue`	$15.08K	USD	1 Quarter
Other income	`OtherRealEstateRevenue`	$7.50K	USD	1 Quarter
Total revenue	`Revenues`	$462.14K	USD	1 Quarter
Total revenue	`Revenues`	$1.31M	USD	1 Quarter
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	$754.00K	USD	1 Quarter
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$888.53K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$64.31K	USD	1 Quarter
Management fees - related party	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$152.34K	USD	1 Quarter
Depreciation expense	`Depreciation`	$398.83K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.13M	USD	1 Quarter
Interest expense	`InterestExpense`	$344.04K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$650.68K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-188.55K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.95M	USD	1 Quarter
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.75	USD	1 Quarter
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-3.11	USD	1 Quarter
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	1 Quarter
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	624,978.00	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-188.55K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.95M	USD	1 Quarter
Depreciation expense	`Depreciation`	$152.34K	USD	1 Quarter
Depreciation expense	`Depreciation`	$398.83K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$29.80K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$90.24K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$319.50K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	-	USD	1 Quarter
Tenant receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Tenant receivables	`IncreaseDecreaseInOtherReceivables`	$261.95K	USD	1 Quarter
Prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$27.93K	USD	1 Quarter
Prepaid assets	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.39K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$342.42K	USD	1 Quarter
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-225.40K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$884.15K	USD	1 Quarter
Security deposits	`IncreaseDecreaseInSecurityDeposits`	$319.50K	USD	1 Quarter
Security deposits	`IncreaseDecreaseInSecurityDeposits`	-	USD	1 Quarter
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$90.00K	USD	1 Quarter
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$90.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-139.43K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.12M	USD	1 Quarter
Escrow deposits for purchase of properties	`ProceedsFromOtherDeposits`	-	USD	1 Quarter
Escrow deposits for purchase of properties	`ProceedsFromOtherDeposits`	$394.31K	USD	1 Quarter
Loans to related party	`PaymentsToFundLongtermLoansToRelatedParties`	-	USD	1 Quarter
Loans to related party	`PaymentsToFundLongtermLoansToRelatedParties`	$21.50K	USD	1 Quarter
Purchase of buildings and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.95M	USD	1 Quarter
Purchase of buildings and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-37.57M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$510.70K	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-148.86K	USD	1 Quarter
Escrow deposits required by third party lenders	`PaymentsForDepositsAppliedToDebtRetirements`	$829.52K	USD	1 Quarter
Loans from related party	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Loans from related party	`ProceedsFromRelatedPartyDebt`	$152.89K	USD	1 Quarter
Proceeds from note payable to majority stockholder	`ProceedsFromNotesPayable`	$350.00K	USD	1 Quarter
Proceeds from note payable to majority stockholder	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds from notes payable from acquisitions	`ProceedsFromNotesPayableFromAcquisitions`	$41.32M	USD	1 Quarter
Proceeds from notes payable from acquisitions	`ProceedsFromNotesPayableFromAcquisitions`	-	USD	1 Quarter
Payments on notes payable from acquisitions	`PaymentsOnNotesPayableFromAcquisitions`	$78.97K	USD	1 Quarter
Payments on notes payable from acquisitions	`PaymentsOnNotesPayableFromAcquisitions`	$9.32M	USD	1 Quarter
Proceeds from note payable from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from note payable from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$450.00K	USD	1 Quarter
Payments of deferred financing costs	`PaymentsOfDebtIssuanceCosts`	$1.09M	USD	1 Quarter
Payments of deferred financing costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividends`	$63.90K	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividends`	$164.15K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$355.99K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$30.01M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$216.57K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-8.68M	USD	1 Quarter
Cash and cash equivalentsbeginning of period	`Cash`	$305.37K	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`Cash`	$88.81K	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`Cash`	$9.18M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`Cash`	$507.28K	USD	Point-in-time
Cash and cash equivalentsend of period	`Cash`	$305.37K	USD	Point-in-time
Cash and cash equivalentsend of period	`Cash`	$88.81K	USD	Point-in-time
Cash and cash equivalentsend of period	`Cash`	$9.18M	USD	Point-in-time
Cash and cash equivalentsend of period	`Cash`	$507.28K	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$337.61K	USD	1 Quarter
Cash payments for interest	`InterestPaidNet`	$548.15K	USD	1 Quarter
Conversion of convertible debenture due to majority stockholder to shares of common stock	`StockIssued1`	-	USD	1 Quarter
Conversion of convertible debenture due to majority stockholder to shares of common stock	`StockIssued1`	$15.00M	USD	1 Quarter

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