10-Q Filing

GLOBAL MEDICAL REIT INC. CIK: 1533615 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-133096`
Period End Date	20160930
Filing Date	20161110
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	gmre-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 48 Cash Flow Statement 79

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Notes payable, net of unamortized discount	`DebtInstrumentUnamortizedDiscount`	$1.18M	USD	Point-in-time
Notes payable, net of unamortized discount	`DebtInstrumentUnamortizedDiscount`	$302.89K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Land	`Land`	$11.73M	USD	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`	$51.57M	USD	Point-in-time
Building and improvements	`InvestmentBuildingAndBuildingImprovements`	$113.09M	USD	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`	$56.14M	USD	Point-in-time
Real Estate Investment Property, at Cost, Total	`RealEstateInvestmentPropertyAtCost`	$124.83M	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`	$2.52M	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`	$122.31M	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 issued	`CommonStockSharesIssued`	250,000.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$88.81K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.61M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$81.35M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$88.82K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.61M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$447.63K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$805.78K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Tenant receivables	`AccountsReceivableNet`	$177.37K	USD	Point-in-time
Tenant receivables	`AccountsReceivableNet`	-	USD	Point-in-time
Escrow deposits	`DepositsAssets`	$903.64K	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`	$245.62K	USD	Point-in-time
Total assets	`Assets`	$205.79M	USD	Point-in-time
Total assets	`Assets`	$65.33M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$416.23K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$683.86K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$3.59M	USD	Point-in-time
Security deposits	`SecurityDepositLiability`	-	USD	Point-in-time
Security deposits	`SecurityDepositLiability`	$597.59K	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrentAndNoncurrent`	$847.17K	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrentAndNoncurrent`	$1.14M	USD	Point-in-time
Convertible debenture, due to related party	`ConvertibleDebt`	$40.03M	USD	Point-in-time
Convertible debenture, due to related party	`ConvertibleDebt`	-	USD	Point-in-time
Notes payable to related parties	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$421.00K	USD	Point-in-time
Notes payable to related parties	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$421.00K	USD	Point-in-time
Notes payable, net of unamortized discount of $1,177,522 and $302,892 at September 30, 2016 and December 31, 2015, respectively	`NotesPayable`	$39.92M	USD	Point-in-time
Notes payable, net of unamortized discount of $1,177,522 and $302,892 at September 30, 2016 and December 31, 2015, respectively	`NotesPayable`	$23.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$46.08M	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 September 30, 2016 and December 31, 2015, respectively; 17,605,675 and 250,000 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$17.61K	USD	Point-in-time
Common stock $0.001 par value, 500,000,000 shares authorized at September 30, 2016 and December 31, 2015, respectively; 17,605,675 and 250,000 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$250.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$171.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.01M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.15M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.45M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-138.61K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$159.71M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$65.33M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$205.79M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$1.39M	USD	3 Qtrs
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$4.99M	USD	3 Qtrs
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$1.93M	USD	1 Quarter
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$482.13K	USD	1 Quarter
Other income	`OtherRealEstateRevenue`	$12.47K	USD	3 Qtrs
Other income	`OtherRealEstateRevenue`	$93.20K	USD	3 Qtrs
Other income	`OtherRealEstateRevenue`	$4.97K	USD	1 Quarter
Other income	`OtherRealEstateRevenue`	$70.22K	USD	1 Quarter
Total revenue	`Revenues`	$1.41M	USD	3 Qtrs
Total revenue	`Revenues`	$487.10K	USD	1 Quarter
Total revenue	`Revenues`	$5.09M	USD	3 Qtrs
Total revenue	`Revenues`	$2.00M	USD	1 Quarter
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	$227.00K	USD	1 Quarter
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	$227.00K	USD	3 Qtrs
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	1 Quarter
Acquisition fees - related party	`BusinessCombinationAcquisitionRelatedCosts`	$754.00K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$291.59K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.98M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.72M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$150.81K	USD	1 Quarter
Management fees - related party	`ManagementFeeExpense`	$270.00K	USD	3 Qtrs
Management fees - related party	`ManagementFeeExpense`	$90.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeExpense`	$807.15K	USD	3 Qtrs
Management fees - related party	`ManagementFeeExpense`	$627.15K	USD	1 Quarter
Depreciation expense	`Depreciation`	$446.49K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$585.45K	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.53M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$153.15K	USD	1 Quarter
Interest expense	`InterestExpense`	$363.94K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.05M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.44M	USD	3 Qtrs
Interest expense	`InterestExpense`	$988.83K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$984.89K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.99M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$9.51M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$2.22M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.42M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-497.79K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-818.77K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.98M	USD	1 Quarter
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.99	USD	1 Quarter
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-3.28	USD	3 Qtrs
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.68	USD	3 Qtrs
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	3 Qtrs
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.37M	shares	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`	6.51M	shares	3 Qtrs

Cash Flow Statement 79 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.42M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-497.79K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-818.77K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.98M	USD	1 Quarter
Depreciation expense	`Depreciation`	$446.49K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$585.45K	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.53M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$153.15K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$89.85K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$215.45K	USD	3 Qtrs
LTIP unit compensation expense	`ShareBasedCompensation`	-	USD	3 Qtrs
LTIP unit compensation expense	`ShareBasedCompensation`	$830.83K	USD	3 Qtrs
LTIP unit compensation expense	`ShareBasedCompensation`	$830.83K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$438.19K	USD	3 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	-	USD	3 Qtrs
Tenant receivables	`IncreaseDecreaseInOtherReceivables`	$177.37K	USD	3 Qtrs
Tenant receivables	`IncreaseDecreaseInOtherReceivables`	$25.06K	USD	3 Qtrs
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$222.32K	USD	3 Qtrs
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.57K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-267.63K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-44.25K	USD	3 Qtrs
Security deposits	`IncreaseDecreaseInSecurityDeposits`	-	USD	3 Qtrs
Security deposits	`IncreaseDecreaseInSecurityDeposits`	$597.59K	USD	3 Qtrs
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$270.00K	USD	3 Qtrs
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$297.15K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-80.17K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.06M	USD	3 Qtrs
Escrow deposits for purchase of properties	`ProceedsFromOtherDeposits`	$394.31K	USD	3 Qtrs
Escrow deposits for purchase of properties	`ProceedsFromOtherDeposits`	-	USD	3 Qtrs
Loans to related party	`PaymentsToFundLongtermLoansToRelatedParties`	$71.68K	USD	3 Qtrs
Loans to related party	`PaymentsToFundLongtermLoansToRelatedParties`	$39.00K	USD	3 Qtrs
Purchase of buildings and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.61M	USD	3 Qtrs
Purchase of buildings and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$68.69M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-68.34M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.68M	USD	3 Qtrs
Net proceeds received from initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	3 Qtrs
Net proceeds received from initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$137.36M	USD	3 Qtrs
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-80.04K	USD	3 Qtrs
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-837.00	USD	3 Qtrs
Escrow deposits required by third party lenders	`PaymentsForDepositsAppliedToDebtRetirements`	$843.64K	USD	3 Qtrs
Escrow deposits required by third party lenders	`PaymentsForDepositsAppliedToDebtRetirements`	-	USD	3 Qtrs
Loans received from related parties	`ProceedsFromRelatedPartyDebt`	$51.20K	USD	3 Qtrs
Loans received from related parties	`ProceedsFromRelatedPartyDebt`	$29.99K	USD	3 Qtrs
Proceeds from convertible debenture, due to related party	`ProceedsFromConvertibleDebt`	$4.55M	USD	3 Qtrs
Proceeds from convertible debenture, due to related party	`ProceedsFromConvertibleDebt`	-	USD	3 Qtrs
Repayment of convertible debenture, due to related party	`RepaymentsOfConvertibleDebt`	-	USD	3 Qtrs
Repayment of convertible debenture, due to related party	`RepaymentsOfConvertibleDebt`	$10.00M	USD	3 Qtrs
Proceeds from notes payable to related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$350.00K	USD	3 Qtrs
Proceeds from notes payable to related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$450.00K	USD	3 Qtrs
Repayment of notes payable from related parties	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Repayment of notes payable from related parties	`RepaymentsOfRelatedPartyDebt`	$450.00K	USD	3 Qtrs
Proceeds from notes payable from acquisitions	`ProceedsFromNotesPayableFromAcquisitions`	$41.32M	USD	3 Qtrs
Proceeds from notes payable from acquisitions	`ProceedsFromNotesPayableFromAcquisitions`	$7.38M	USD	3 Qtrs
Payments on notes payable from acquisitions	`PaymentsOnNotesPayableFromAcquisitions`	$256.70K	USD	3 Qtrs
Payments on notes payable from acquisitions	`PaymentsOnNotesPayableFromAcquisitions`	$24.01M	USD	3 Qtrs
Payments of deferred financing costs	`PaymentsOfDebtIssuanceCosts`	$137.74K	USD	3 Qtrs
Payments of deferred financing costs	`PaymentsOfDebtIssuanceCosts`	$1.09M	USD	3 Qtrs
Dividends paid to stockholders	`PaymentsOfDividends`	$285.70K	USD	3 Qtrs
Dividends paid to stockholders	`PaymentsOfDividends`	$170.40K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$11.76M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$142.56M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$72.16M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$14.00	USD	3 Qtrs
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$88.81K	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$81.35M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$88.82K	USD	Point-in-time
Cash and cash equivalentsbeginning 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`	$81.35M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$88.82K	USD	Point-in-time
Cash and cash equivalentsend of period	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$3.70M	USD	3 Qtrs
Cash payments for interest	`InterestPaidNet`	$961.38K	USD	3 Qtrs
Conversion of convertible debenture due to ZH USA, LLC to shares of common stock	`StockIssued1`	-	USD	3 Qtrs
Conversion of convertible debenture due to ZH USA, LLC to shares of common stock	`StockIssued1`	$30.03M	USD	3 Qtrs
Reclassification of deferred initial public offering costs to additional paid-in capital	`ReclassificationOfDeferredPublicOfferingCostToAdditionalPaidIncapitalNoncashOrPartialNoncashTransaction`	$1.68M	USD	3 Qtrs
Reclassification of deferred initial public offering costs to additional paid-in capital	`ReclassificationOfDeferredPublicOfferingCostToAdditionalPaidIncapitalNoncashOrPartialNoncashTransaction`	-	USD	3 Qtrs
Accrued dividends payable	`LiabilitiesAssumed1`	-	USD	3 Qtrs
Accrued dividends payable	`LiabilitiesAssumed1`	$3.59M	USD	3 Qtrs

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