10-K Filing

GLOBAL MEDICAL REIT INC. CIK: 1533615 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001144204-17-016702`
Period End Date	20161231
Filing Date	20170327
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	gmre-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 28 Cash Flow Statement 80 Stockholders Equity 15

Balance Sheet 88 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`	$1.06M	USD	Point-in-time
Notes payable, net of unamortized discount	`DebtInstrumentUnamortizedDiscount`	$291.69K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Land	`Land`	$4.56M	USD	Point-in-time
Land	`Land`	$17.79M	USD	Point-in-time
Building	`InvestmentBuildingAndBuildingImprovements`	$51.57M	USD	Point-in-time
Building	`InvestmentBuildingAndBuildingImprovements`	$179.25M	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
Site improvements	`BuildingsAndImprovementsGross`	$1.47M	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
Site improvements	`BuildingsAndImprovementsGross`	-	USD	Point-in-time
Tenant improvements	`TenantImprovements`	$1.19M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Tenant improvements	`TenantImprovements`	-	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
Real Estate Investment Property, at Cost, Total	`RealEstateInvestmentPropertyAtCost`	$199.69M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Real Estate Investment Property, at Cost, Total	`RealEstateInvestmentPropertyAtCost`	$56.14M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.61M	shares	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$989.25K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	250,000.00	shares	Point-in-time
Less: accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$3.32M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.61M	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$196.37M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	250,000.00	shares	Point-in-time
Investment in real estate, net	`RealEstateInvestmentPropertyNet`	$55.15M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$88.81K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$19.67M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$447.63K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$941.34K	USD	Point-in-time
Tenant receivables	`AccountsReceivableNet`	$212.44K	USD	Point-in-time
Tenant receivables	`AccountsReceivableNet`	-	USD	Point-in-time
Escrow deposits	`DepositsAssets`	$1.21M	USD	Point-in-time
Escrow deposits	`DepositsAssets`	$454.31K	USD	Point-in-time
Acquired lease intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$7.14M	USD	Point-in-time
Acquired lease intangible assets, net	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Deferred assets	`DeferredCostsAndOtherAssets`	$93.65K	USD	Point-in-time
Deferred assets	`DeferredCostsAndOtherAssets`	$704.54K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	-	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNet`	$927.09K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$140.37K	USD	Point-in-time
Total assets	`Assets`	$65.33M	USD	Point-in-time
Total assets	`Assets`	$227.32M	USD	Point-in-time
Accounts payable and accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$574.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$683.86K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$3.59M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$3.60M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Security deposits	`SecurityDepositLiability`	-	USD	Point-in-time
Security deposits	`SecurityDepositLiability`	$719.59K	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrentAndNoncurrent`	$580.91K	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrentAndNoncurrent`	$-330.77K	USD	Point-in-time
Due to related parties, net	`DueToRelatedPartiesCurrentAndNoncurrent`	$847.17K	USD	Point-in-time
Acquired lease intangible liability, net	`BelowMarketLeaseNet`	-	USD	Point-in-time
Acquired lease intangible liability, net	`BelowMarketLeaseNet`	$277.92K	USD	Point-in-time
Convertible debenture, due to related party	`ConvertibleDebt`	$5.45M	USD	Point-in-time
Convertible debenture, due to related party	`ConvertibleDebt`	-	USD	Point-in-time
Convertible debenture, due to related party	`ConvertibleDebt`	$40.03M	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 $1,061,602 and $302,892 at December 31, 2016 and December 31, 2015, respectively	`NotesPayable`	$23.49M	USD	Point-in-time
Notes payable, net of unamortized discount of $1,061,602 and $302,892 at December 31, 2016 and December 31, 2015, respectively	`NotesPayable`	$38.41M	USD	Point-in-time
Revolving credit facility	`LineOfCredit`	$27.70M	USD	Point-in-time
Revolving credit facility	`LineOfCredit`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$65.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$72.29M	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 December 31, 2016 and December 31, 2015, respectively; 17,605,675 and 250,000 shares issued and outstanding at December 31, 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 December 31, 2016 and December 31, 2015, respectively; 17,605,675 and 250,000 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$17.61K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$172.00M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.99M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.15M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$1.73M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$155.03M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-138.61K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$65.33M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$227.32M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$8.08M	USD	Annual
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$2.05M	USD	Annual
Other income	`OtherRealEstateRevenue`	$130.78K	USD	Annual
Other income	`OtherRealEstateRevenue`	$12.47K	USD	Annual
Total revenue	`Revenues`	$8.21M	USD	Annual
Total revenue	`Revenues`	$2.06M	USD	Annual
Acquisition fees	`BusinessCombinationAcquisitionRelatedCosts`	$1.57M	USD	Annual
Acquisition fees	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	Annual
Acquisition fees - related party	`RelatedPartyCosts`	$627.00K	USD	Annual
Acquisition fees - related party	`RelatedPartyCosts`	$754.00K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$505.14K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.29M	USD	Annual
Management fees - related party	`ManagementFeeExpense`	$360.00K	USD	Annual
Management fees - related party	`ManagementFeeExpense`	$1.43M	USD	Annual
Depreciation expense	`Depreciation`	$2.33M	USD	Annual
Depreciation expense	`Depreciation`	$659.67K	USD	Annual
Amortization expense	`AdjustmentForAmortization`	-	USD	Annual
Amortization expense	`AdjustmentForAmortization`	$42.32K	USD	Annual
Interest expense	`InterestExpense`	$4.14M	USD	Annual
Interest expense	`InterestExpense`	$1.52M	USD	Annual
Total expenses	`OperatingExpenses`	$3.67M	USD	Annual
Total expenses	`OperatingExpenses`	$14.56M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.35M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.61M	USD	Annual
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.68	USD	Annual
Net loss per share - Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-6.44	USD	Annual
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	250,000.00	shares	Annual
Weighted average shares outstanding - Basic and Diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.30M	shares	Annual

Cash Flow Statement 80 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.35M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.61M	USD	Annual
Depreciation expense	`Depreciation`	$2.33M	USD	Annual
Depreciation expense	`Depreciation`	$659.67K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$350.44K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$126.53K	USD	Annual
Amortization of acquired lease intangible assets	`AmortizationOfLeasedAsset`	$42.32K	USD	Annual
Amortization of acquired lease intangible assets	`AmortizationOfLeasedAsset`	-	USD	Annual
Amortization of above (below) market leases	`AmortizationOfAboveAndBelowMarketLeases`	-	USD	Annual
Amortization of above (below) market leases	`AmortizationOfAboveAndBelowMarketLeases`	$-994.00	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	-	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$1.68M	USD	Annual
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	-	USD	Annual
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$558.08K	USD	Annual
Tenant receivables	`IncreaseDecreaseInOtherReceivables`	$212.44K	USD	Annual
Tenant receivables	`IncreaseDecreaseInOtherReceivables`	$-2.79K	USD	Annual
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$93.65K	USD	Annual
Deferred assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$681.24K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$345.09K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-39.51K	USD	Annual
Security deposits	`IncreaseDecreaseInSecurityDeposits`	-	USD	Annual
Security deposits	`IncreaseDecreaseInSecurityDeposits`	$719.59K	USD	Annual
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$360.00K	USD	Annual
Accrued management fees due to related party	`IncreaseDecreaseInDueToRelatedParties`	$-9.29K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-208.80K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.72M	USD	Annual
Escrow deposits for purchase of properties	`PaymentsForProceedsFromOtherDeposits`	$439.43K	USD	Annual
Escrow deposits for purchase of properties	`PaymentsForProceedsFromOtherDeposits`	$-104.31K	USD	Annual
Loan repayments from (made to) related parties	`ProceedsFromPaymentsForLongTermLoansForRelatedParties`	$-135.20K	USD	Annual
Loan repayments from (made to) related parties	`ProceedsFromPaymentsForLongTermLoansForRelatedParties`	$137.73K	USD	Annual
Cash paid for pre-acquisition costs	`IncreaseDecreaseInLeaseAcquisitionCosts`	-	USD	Annual
Cash paid for pre-acquisition costs	`IncreaseDecreaseInLeaseAcquisitionCosts`	$140.37K	USD	Annual
Acquisition of land, buildings, and other tangible and intangible assets and liabilities	`PaymentsForProceedsFromProductiveAssets`	$150.46M	USD	Annual
Acquisition of land, buildings, and other tangible and intangible assets and liabilities	`PaymentsForProceedsFromProductiveAssets`	$31.76M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-32.34M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-150.36M	USD	Annual
Net proceeds received from initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	$137.29M	USD	Annual
Net proceeds received from initial public offering	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$249.91K	USD	Annual
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-64.36K	USD	Annual
Escrow deposits required by third party lenders	`PaymentsForDepositsAppliedToDebtRetirements`	-	USD	Annual
Escrow deposits required by third party lenders	`PaymentsForDepositsAppliedToDebtRetirements`	$862.18K	USD	Annual
Loan (repayments to) received from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-394.69K	USD	Annual
Loan (repayments to) received from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$291.60K	USD	Annual
Proceeds from convertible debenture, due to related party	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from convertible debenture, due to related party	`ProceedsFromConvertibleDebt`	$34.58M	USD	Annual
Repayments of convertible debenture, due to related party	`RepaymentsOfConvertibleDebt`	$10.00M	USD	Annual
Repayments of convertible debenture, due to related party	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Proceeds from notes payable to related parties	`ProceedsFromNotesPayable`	$1.95M	USD	Annual
Proceeds from notes payable to related parties	`ProceedsFromNotesPayable`	$382.81K	USD	Annual
Repayments of notes payable from related parties	`RepaymentsOfRelatedPartyDebt`	$1.95M	USD	Annual
Repayments of notes payable from related parties	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Proceeds received from revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	-	USD	Annual
Proceeds received from revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	$27.70M	USD	Annual
Proceeds from notes payable related to acquisitions	`ProceedsFromNotesPayableFromAcquisitions`	$7.38M	USD	Annual
Proceeds from notes payable related to acquisitions	`ProceedsFromNotesPayableFromAcquisitions`	$41.32M	USD	Annual
Payments on notes payable related to acquisitions	`PaymentsOnNotesPayableFromAcquisitions`	$25.63M	USD	Annual
Payments on notes payable related to acquisitions	`PaymentsOnNotesPayableFromAcquisitions`	$349.44K	USD	Annual
Payments of deferred financing costs	`PaymentsOfDebtIssuanceCosts`	$137.74K	USD	Annual
Payments of deferred financing costs	`PaymentsOfDebtIssuanceCosts`	$2.04M	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividends`	$255.60K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividends`	$3.88M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$41.64M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$163.57M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$9.10M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$10.49M	USD	Annual
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$88.81K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.67M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	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`	$19.67M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.18M	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$1.17M	USD	Annual
Cash payments for interest	`InterestPaidNet`	$4.10M	USD	Annual
Conversion of convertible debenture due to related party to shares of common stock	`StockIssued1`	-	USD	Annual
Conversion of convertible debenture due to related party to shares of common stock	`StockIssued1`	$30.03M	USD	Annual
Reclassification of deferred initial public offering costs to additional paid-in capital	`ReclassificationOfDeferredPublicOfferingCostToAdditionalPaidInCapitalNonCashOrPartialNonCashTransaction`	$1.68M	USD	Annual
Reclassification of deferred initial public offering costs to additional paid-in capital	`ReclassificationOfDeferredPublicOfferingCostToAdditionalPaidInCapitalNonCashOrPartialNonCashTransaction`	-	USD	Annual
Accrued dividends payable	`LiabilitiesAssumed1`	$3.60M	USD	Annual
Accrued dividends payable	`LiabilitiesAssumed1`	-	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$1.73M	USD	Point-in-time
Balances	`StockholdersEquity`	$155.03M	USD	Point-in-time
Balances	`StockholdersEquity`	$-138.61K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-6.35M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.61M	USD	Annual
Issuance of initial public offering shares of common stock	`StockIssuedDuringPeriodValueNewIssues`	$138.97M	USD	Annual
Issuance of initial public offering shares of common stock (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	15.00M	shares	Annual
Reclassification of deferred initial public offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$1.68M	USD	Annual
Conversion of convertible debenture due to related party to shares of common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$30.03M	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.68M	USD	Annual
Dividends to stockholders	`Dividends`	$7.48M	USD	Annual
Dividends to stockholders	`Dividends`	$255.60K	USD	Annual
Balances	`StockholdersEquity`	$1.73M	USD	Point-in-time
Balances	`StockholdersEquity`	$155.03M	USD	Point-in-time
Balances	`StockholdersEquity`	$-138.61K	USD	Point-in-time

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