10-Q Filing

GLOBAL MEDICAL REIT INC. CIK: 1533615 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-118355`
Period End Date	20160630
Filing Date	20160811
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	gmre-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 48 Cash Flow Statement 72

Balance Sheet 68 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`	$1.24M	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`	$4.56M	USD	Point-in-time
Land	`Land`	$7.04M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Building and improvements	`InvestmentBuildingAndBuildingImprovements`	$87.04M	USD	Point-in-time
Building and improvements	`InvestmentBuildingAndBuildingImprovements`	$51.57M	USD	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Real Estate Investment Property, at Cost, Total	`RealEstateInvestmentPropertyAtCost`	$56.14M	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
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.93M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$55.15M	USD	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$92.15M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.43M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$88.81K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	250,000.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$178.51K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$447.63K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.43M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$977.58K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Escrow deposits	`DepositsAssets`	$945.16K	USD	Point-in-time
Escrow deposits	`DepositsAssets`	$454.31K	USD	Point-in-time
Deferred assets	`DeferredCostsAndOtherAssets`	$1.74M	USD	Point-in-time
Deferred assets	`DeferredCostsAndOtherAssets`	$93.65K	USD	Point-in-time
Total assets	`Assets`	$98.39M	USD	Point-in-time
Total assets	`Assets`	$65.33M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$3.08M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$683.86K	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`	$2.49M	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 $1,240,126 and $302,892 at June 30, 2016 and December 31, 2015, respectively	`NotesPayable`	$23.49M	USD	Point-in-time
Notes payable, net of unamortized discount of $1,240,126 and $302,892 at June 30, 2016 and December 31, 2015, respectively	`NotesPayable`	$54.46M	USD	Point-in-time
Total liabilities	`Liabilities`	$86.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$65.47M	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 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, 2016 and December 31, 2015, respectively; 1,426,656 and 250,000 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$250.00	USD	Point-in-time
Common stock $0.001 par value, 500,000,000 shares authorized at June 30, 2016 and December 31, 2015, respectively; 1,426,656 and 250,000 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$1.43K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$18.01M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.15M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.88M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-138.61K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$12.13M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$98.39M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$65.33M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$455.90K	USD	1 Quarter
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$3.06M	USD	2 Qtrs
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$910.54K	USD	2 Qtrs
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$1.76M	USD	1 Quarter
Other income	`OtherRealEstateRevenue`	$7.89K	USD	1 Quarter
Other income	`OtherRealEstateRevenue`	-	USD	1 Quarter
Other income	`OtherRealEstateRevenue`	$7.50K	USD	2 Qtrs
Other income	`OtherRealEstateRevenue`	$22.97K	USD	2 Qtrs
Total revenue	`Revenues`	$3.08M	USD	2 Qtrs
Total revenue	`Revenues`	$1.77M	USD	1 Quarter
Total revenue	`Revenues`	$918.04K	USD	2 Qtrs
Total revenue	`Revenues`	$455.90K	USD	1 Quarter
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	1 Quarter
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	2 Qtrs
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	1 Quarter
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	$754.00K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$140.78K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.26M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$76.47K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$368.21K	USD	1 Quarter
Management fees - related party	`ManagementFeeExpense`	$180.00K	USD	2 Qtrs
Management fees - related party	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeExpense`	$180.00K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$544.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$942.83K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$293.34K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$141.01K	USD	1 Quarter
Interest expense	`InterestExpense`	$280.85K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.39M	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.26M	USD	1 Quarter
Interest expense	`InterestExpense`	$624.89K	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$2.26M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$588.33K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.53M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$1.24M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.44M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-320.97K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-494.20K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-132.43K	USD	1 Quarter
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.28	USD	2 Qtrs
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-2.38	USD	2 Qtrs
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.53	USD	1 Quarter
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.35	USD	1 Quarter
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	2 Qtrs
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.03M	shares	2 Qtrs
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.43M	shares	1 Quarter
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.44M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-320.97K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-494.20K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-132.43K	USD	1 Quarter
Depreciation expense	`Depreciation`	$544.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$942.83K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$293.34K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$141.01K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$152.84K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$59.59K	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	-	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$319.50K	USD	2 Qtrs
Prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$22.23K	USD	2 Qtrs
Prepaid assets	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$131.42K	USD	Annual
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$131.42K	USD	2 Qtrs
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-200.54K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.24M	USD	2 Qtrs
Security deposits	`IncreaseDecreaseInSecurityDeposits`	$319.50K	USD	2 Qtrs
Security deposits	`IncreaseDecreaseInSecurityDeposits`	-	USD	2 Qtrs
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$180.00K	USD	2 Qtrs
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$30.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-10.80K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-204.83K	USD	2 Qtrs
Escrow deposits for purchase of properties	`ProceedsFromOtherDeposits`	-	USD	2 Qtrs
Escrow deposits for purchase of properties	`ProceedsFromOtherDeposits`	$344.31K	USD	2 Qtrs
Loans to related party	`PaymentsToFundLongtermLoansToRelatedParties`	$6.00K	USD	2 Qtrs
Loans to related party	`PaymentsToFundLongtermLoansToRelatedParties`	$39.04K	USD	2 Qtrs
Purchase of buildings and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.95M	USD	2 Qtrs
Purchase of buildings and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-37.64M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.00K	USD	2 Qtrs
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$210.45K	USD	2 Qtrs
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-49.69K	USD	2 Qtrs
Escrow deposits required by third party lenders	`PaymentsForDepositsAppliedToDebtRetirements`	-	USD	2 Qtrs
Escrow deposits required by third party lenders	`PaymentsForDepositsAppliedToDebtRetirements`	$835.16K	USD	2 Qtrs
Loans from related parties	`ProceedsFromRelatedPartyDebt`	$1.66M	USD	2 Qtrs
Loans from related parties	`ProceedsFromRelatedPartyDebt`	$1.95K	USD	2 Qtrs
Proceeds from note payable to majority stockholder	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Proceeds from note payable to majority stockholder	`ProceedsFromNotesPayable`	$350.00K	USD	2 Qtrs
Proceeds from notes payable from acquisitions	`ProceedsFromNotesPayableFromAcquisitions`	-	USD	2 Qtrs
Proceeds from notes payable from acquisitions	`ProceedsFromNotesPayableFromAcquisitions`	$41.32M	USD	2 Qtrs
Payments on notes payable from acquisitions	`PaymentsOnNotesPayableFromAcquisitions`	$9.41M	USD	2 Qtrs
Payments on notes payable from acquisitions	`PaymentsOnNotesPayableFromAcquisitions`	$167.33K	USD	2 Qtrs
Proceeds from note payable from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$450.00K	USD	2 Qtrs
Proceeds from note payable from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Payments of deferred initial public offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	2 Qtrs
Payments of deferred initial public offering costs	`PaymentsOfStockIssuanceCosts`	$358.37K	USD	2 Qtrs
Payments of deferred initial public offering costs	`PaymentsOfStockIssuanceCosts`	$1.37M	USD	Point-in-time
Payments of deferred financing costs	`PaymentsOfDebtIssuanceCosts`	-	USD	2 Qtrs
Payments of deferred financing costs	`PaymentsOfDebtIssuanceCosts`	$1.09M	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividends`	$285.70K	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividends`	$127.80K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$31.24M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$106.51K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-6.61M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$89.71K	USD	2 Qtrs
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$88.81K	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$178.51K	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$88.81K	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$178.51K	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$690.58K	USD	2 Qtrs
Cash payments for interest	`InterestPaidNet`	$1.03M	USD	2 Qtrs
Conversion of convertible debenture due to majority stockholder to shares of common stock	`StockIssued1`	$15.00M	USD	2 Qtrs
Conversion of convertible debenture due to majority stockholder to shares of common stock	`StockIssued1`	-	USD	2 Qtrs
Accrued deferred initial public offering costs	`DeferredInitialPublicOfferingCostsIncurredDuringNoncashTransaction`	-	USD	2 Qtrs
Accrued deferred initial public offering costs	`DeferredInitialPublicOfferingCostsIncurredDuringNoncashTransaction`	$1.15M	USD	2 Qtrs

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