10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001144204-17-028923 |
| Period End Date | 20170331 |
| Filing Date | 20170522 |
| Fiscal Year | 2017 |
| Fiscal Period | Q1 |
| XBRL Instance | sach-20170331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
80 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Preferred Stock, Par or Stated Value Per Share |
PreferredStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Preferred Stock, Par or Stated Value Per Share |
PreferredStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Cash |
Cash
|
$1.36M | USD | Point-in-time |
| Preferred Stock, Shares Authorized |
PreferredStockSharesAuthorized
|
5.00M | shares | Point-in-time |
| Cash |
Cash
|
$1.56M | USD | Point-in-time |
| Preferred Stock, Shares Authorized |
PreferredStockSharesAuthorized
|
5.00M | shares | Point-in-time |
| Cash |
Cash
|
$1.83M | USD | Point-in-time |
| Cash |
Cash
|
$1.19M | USD | Point-in-time |
| Preferred Stock, Shares Issued |
PreferredStockSharesIssued
|
0.00 | shares | Point-in-time |
| Escrow deposit |
EscrowDeposit
|
$596.07K | USD | Point-in-time |
| Preferred Stock, Shares Issued |
PreferredStockSharesIssued
|
0.00 | shares | Point-in-time |
| Escrow deposit |
EscrowDeposit
|
- | USD | Point-in-time |
| Mortgages receivable |
MortgageLoansOnRealEstate
|
$29.27M | USD | Point-in-time |
| Mortgages receivable |
MortgageLoansOnRealEstate
|
$40.07M | USD | Point-in-time |
| Mortgages receivable |
MortgageLoansOnRealEstate
|
$32.52M | USD | Point-in-time |
| Common Stock, Par or Stated Value Per Share |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Common Stock, Par or Stated Value Per Share |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Common Stock, Par or Stated Value Per Share |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Mortgages receivable, affiliate |
MortgagesReceivableFromAffiliate
|
- | USD | Point-in-time |
| Mortgages receivable, affiliate |
MortgagesReceivableFromAffiliate
|
$1.23M | USD | Point-in-time |
| Common Stock, Shares Authorized |
CommonStockSharesAuthorized
|
50.00M | shares | Point-in-time |
| Common Stock, Shares Authorized |
CommonStockSharesAuthorized
|
50.00M | shares | Point-in-time |
| Interest and fees receivable |
InterestReceivable
|
$478.93K | USD | Point-in-time |
| Common Stock, Shares, Issued |
CommonStockSharesIssued
|
11.10M | shares | Point-in-time |
| Common Stock, Shares, Issued |
CommonStockSharesIssued
|
11.10M | shares | Point-in-time |
| Interest and fees receivable |
InterestReceivable
|
$498.42K | USD | Point-in-time |
| Other receivables |
OtherReceivables
|
$178.23K | USD | Point-in-time |
| Common Stock, Shares, Outstanding |
CommonStockSharesOutstanding
|
11.10M | shares | Point-in-time |
| Common Stock, Shares, Outstanding |
CommonStockSharesOutstanding
|
11.10M | shares | Point-in-time |
| Other receivables |
OtherReceivables
|
$182.84K | USD | Point-in-time |
| Due from borrowers |
DueFromAffiliates
|
$81.91K | USD | Point-in-time |
| Due from borrowers |
DueFromAffiliates
|
$153.92K | USD | Point-in-time |
| Prepaid insurance |
PrepaidInsurance
|
- | USD | Point-in-time |
| Prepaid insurance |
PrepaidInsurance
|
$32.26K | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$397.45K | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$494.62K | USD | Point-in-time |
| Real estate owned |
RealEstateInvestments
|
$1.18M | USD | Point-in-time |
| Real estate owned |
RealEstateInvestments
|
$1.22M | USD | Point-in-time |
| Pre-offering costs |
PreofferingCosts
|
$625.89K | USD | Point-in-time |
| Pre-offering costs |
PreofferingCosts
|
- | USD | Point-in-time |
| Deposits on property |
SecurityDeposit
|
$32.00K | USD | Point-in-time |
| Deposits on property |
SecurityDeposit
|
- | USD | Point-in-time |
| Deferred financing costs |
DeferredFinanceCostsNet
|
$66.57K | USD | Point-in-time |
| Deferred financing costs |
DeferredFinanceCostsNet
|
$67.47K | USD | Point-in-time |
| Total assets |
Assets
|
$44.66M | USD | Point-in-time |
| Total assets |
Assets
|
$38.37M | USD | Point-in-time |
| Line of credit |
LineOfCredit
|
$4.15M | USD | Point-in-time |
| Line of credit |
LineOfCredit
|
$8.11M | USD | Point-in-time |
| Mortgage payable |
NotesPayable
|
$310.00K | USD | Point-in-time |
| Mortgage payable |
NotesPayable
|
$308.34K | USD | Point-in-time |
| Notes payable, other |
OtherNotesPayable
|
- | USD | Point-in-time |
| Notes payable, other |
OtherNotesPayable
|
$169.34K | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrentAndNoncurrent
|
$314.87K | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrentAndNoncurrent
|
$196.09K | USD | Point-in-time |
| Security deposit held |
SecurityDepositLiability
|
$800.00 | USD | Point-in-time |
| Security deposit held |
SecurityDepositLiability
|
$800.00 | USD | Point-in-time |
| Advances from borrowers |
DueToAffiliateCurrentAndNoncurrent
|
$291.88K | USD | Point-in-time |
| Advances from borrowers |
DueToAffiliateCurrentAndNoncurrent
|
$671.43K | USD | Point-in-time |
| Due to shareholders |
DueToOfficersOrStockholdersCurrentAndNoncurrent
|
$25.57K | USD | Point-in-time |
| Due to shareholders |
DueToOfficersOrStockholdersCurrentAndNoncurrent
|
$656.30K | USD | Point-in-time |
| Deferred revenue |
DeferredRevenue
|
$402.77K | USD | Point-in-time |
| Deferred revenue |
DeferredRevenue
|
$290.46K | USD | Point-in-time |
| Accrued interest |
InterestPayableCurrentAndNoncurrent
|
$13.04K | USD | Point-in-time |
| Accrued interest |
InterestPayableCurrentAndNoncurrent
|
$24.35K | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$9.88M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$6.06M | USD | Point-in-time |
| Preferred shares - $.001 par value; 5,000,000 shares authorized; no shares issued |
PreferredStockValue
|
- | USD | Point-in-time |
| Preferred shares - $.001 par value; 5,000,000 shares authorized; no shares issued |
PreferredStockValue
|
- | USD | Point-in-time |
| Common stock - $.001 par value; 50,000,000 authorized; 11,103,237 issued and outstanding |
CommonStockValue
|
$11.10K | USD | Point-in-time |
| Common stock - $.001 par value; 50,000,000 authorized; 11,103,237 issued and outstanding |
CommonStockValue
|
- | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$37.98M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
- | USD | Point-in-time |
| Members' equity |
MembersEquity
|
- | USD | Point-in-time |
| Members' equity |
MembersEquity
|
$28.49M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$610.68K | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
- | USD | Point-in-time |
| Total shareholders'/members equity |
StockholdersAndMembersEquity
|
$28.49M | USD | Point-in-time |
| Total shareholders'/members equity |
StockholdersAndMembersEquity
|
$38.60M | USD | Point-in-time |
| Total liabilities and shareholders'/members equity |
LiabilitiesAndStockholdersEquity
|
$44.66M | USD | Point-in-time |
| Total liabilities and shareholders'/members equity |
LiabilitiesAndStockholdersEquity
|
$38.37M | USD | Point-in-time |
Income Statement
40 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Interest income from loans |
InterestAndFeeIncomeLoansAndLeases
|
$803.48K | USD | 1 Quarter |
| Interest income from loans |
InterestAndFeeIncomeLoansAndLeases
|
$1.04M | USD | 1 Quarter |
| Origination fees, net |
OriginationFees
|
$28.82K | USD | 1 Quarter |
| Origination fees, net |
OriginationFees
|
$97.46K | USD | 1 Quarter |
| Late and other fees |
FeesAndCommissionsCreditAndDebitCards
|
$33.26K | USD | 1 Quarter |
| Late and other fees |
FeesAndCommissionsCreditAndDebitCards
|
$29.98K | USD | 1 Quarter |
| Processing fees |
ProcessingFees
|
$24.93K | USD | 1 Quarter |
| Processing fees |
ProcessingFees
|
$12.73K | USD | 1 Quarter |
| Rental income, net |
RentalIncomeNonoperating
|
$27.38K | USD | 1 Quarter |
| Rental income, net |
RentalIncomeNonoperating
|
- | USD | 1 Quarter |
| Other income |
OtherIncome
|
- | USD | 1 Quarter |
| Other income |
OtherIncome
|
$46.15K | USD | 1 Quarter |
| Gain on sale of real estate |
GainsLossesOnSalesOfInvestmentRealEstate
|
$26.48K | USD | 1 Quarter |
| Gain on sale of real estate |
GainsLossesOnSalesOfInvestmentRealEstate
|
- | USD | 1 Quarter |
| Total revenue |
Revenues
|
$1.29M | USD | 1 Quarter |
| Total revenue |
Revenues
|
$878.30K | USD | 1 Quarter |
| Interest and amortization of deferred financing costs |
InterestAndAmortizationOfDebtServiceCosts
|
$102.21K | USD | 1 Quarter |
| Interest and amortization of deferred financing costs |
InterestAndAmortizationOfDebtServiceCosts
|
$116.27K | USD | 1 Quarter |
| Compensation to manager |
SalariesAndWages
|
$61.46K | USD | 1 Quarter |
| Compensation to manager |
SalariesAndWages
|
$35.85K | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$24.74K | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$83.74K | USD | 1 Quarter |
| Other fees and taxes |
TaxesAndLicenses
|
$4.86K | USD | 1 Quarter |
| Other fees and taxes |
TaxesAndLicenses
|
$105.84K | USD | 1 Quarter |
| Depreciation |
Depreciation
|
- | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$5.16K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$45.59K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$1.96K | USD | 1 Quarter |
| Total operating costs and expenses |
OperatingCostsAndExpenses
|
$195.23K | USD | 1 Quarter |
| Total operating costs and expenses |
OperatingCostsAndExpenses
|
$392.44K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$683.07K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$896.78K | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$0.06 | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
- | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
- | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$0.06 | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
0.00 | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
11.10M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
0.00 | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
11.10M | shares | 1 Quarter |
Cash Flow Statement
77 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Liabilities Assumed |
LiabilitiesAssumed1
|
$101.90K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$683.07K | USD | 1 Quarter |
| Notes Assumed |
NotesAssumed1
|
$169.34K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$896.78K | USD | 1 Quarter |
| Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued |
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
|
6.28M | shares | Point-in-time |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$13.00K | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$14.56K | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
- | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$5.16K | USD | 1 Quarter |
| Gain on sale of real estate |
GainsLossesOnSalesOfInvestmentRealEstate
|
$26.48K | USD | 1 Quarter |
| Gain on sale of real estate |
GainsLossesOnSalesOfInvestmentRealEstate
|
- | USD | 1 Quarter |
| Escrow deposit |
IncreaseDecreaseInEscrowDeposit
|
$596.07K | USD | 1 Quarter |
| Escrow deposit |
IncreaseDecreaseInEscrowDeposit
|
- | USD | 1 Quarter |
| Interest and fees receivable |
IncreaseDecreaseInInterestAndFeesReceivable
|
$19.50K | USD | 1 Quarter |
| Interest and fees receivable |
IncreaseDecreaseInInterestAndFeesReceivable
|
$50.60K | USD | 1 Quarter |
| Other receivables |
IncreaseDecreaseInOtherReceivables
|
$-1.75K | USD | 1 Quarter |
| Other receivables |
IncreaseDecreaseInOtherReceivables
|
$-4.61K | USD | 1 Quarter |
| Prepaid Insurance |
IncreaseDecreaseInPrepaidInsurance
|
- | USD | 1 Quarter |
| Prepaid Insurance |
IncreaseDecreaseInPrepaidInsurance
|
$32.26K | USD | 1 Quarter |
| Due to member |
IncreaseDecreaseInDueToAffiliates
|
$58.13K | USD | 1 Quarter |
| Due to member |
IncreaseDecreaseInDueToAffiliates
|
$-630.73K | USD | 1 Quarter |
| Accrued interest |
IncreaseDecreaseInInterestPayableNet
|
$-8.33K | USD | 1 Quarter |
| Accrued interest |
IncreaseDecreaseInInterestPayableNet
|
$-11.31K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$314.87K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
- | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$112.31K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$10.25K | USD | 1 Quarter |
| Advances from borrowers |
IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance
|
$-11.95K | USD | 1 Quarter |
| Advances from borrowers |
IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance
|
$307.54K | USD | 1 Quarter |
| Total adjustments |
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
$12.25K | USD | 1 Quarter |
| Total adjustments |
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
$-557.30K | USD | 1 Quarter |
| NET CASH PROVIDED BY OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$339.48K | USD | 1 Quarter |
| NET CASH PROVIDED BY OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$695.32K | USD | 1 Quarter |
| Proceeds from sale of real estate owned |
ProceedsFromSaleOfRealEstate
|
- | USD | 1 Quarter |
| Proceeds from sale of real estate owned |
ProceedsFromSaleOfRealEstate
|
$90.12K | USD | 1 Quarter |
| Acquisitions of and improvements to real estate owned |
PaymentsToAcquireRealEstate
|
$18.48K | USD | 1 Quarter |
| Acquisitions of and improvements to real estate owned |
PaymentsToAcquireRealEstate
|
$85.75K | USD | 1 Quarter |
| Purchase of furniture and equipment |
PaymentsToAcquireFurnitureAndFixtures
|
- | USD | 1 Quarter |
| Purchase of furniture and equipment |
PaymentsToAcquireFurnitureAndFixtures
|
$102.33K | USD | 1 Quarter |
| Security deposit |
PaymentsToAcquireInvestments
|
- | USD | 1 Quarter |
| Security deposit |
PaymentsToAcquireInvestments
|
$32.00K | USD | 1 Quarter |
| Principal disbursements for mortgages receivable |
PaymentsToAcquireMortgageReceivable
|
$10.09M | USD | 1 Quarter |
| Principal disbursements for mortgages receivable |
PaymentsToAcquireMortgageReceivable
|
$5.11M | USD | 1 Quarter |
| Principal collections on mortgages receivable |
ProceedsFromCollectionOfMortagageReceivable
|
$3.94M | USD | 1 Quarter |
| Principal collections on mortgages receivable |
ProceedsFromCollectionOfMortagageReceivable
|
$3.38M | USD | 1 Quarter |
| NET CASH USED FOR INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-6.22M | USD | 1 Quarter |
| NET CASH USED FOR INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-1.82M | USD | 1 Quarter |
| Proceeds from line of credit |
ProceedsFromLinesOfCredit
|
$600.00K | USD | 1 Quarter |
| Proceeds from line of credit |
ProceedsFromLinesOfCredit
|
$7.60M | USD | 1 Quarter |
| Repayment of line of credit |
RepaymentsOfLinesOfCredit
|
$11.56M | USD | 1 Quarter |
| Repayment of line of credit |
RepaymentsOfLinesOfCredit
|
$1.60M | USD | 1 Quarter |
| Principal payments on mortgage payable |
PaymentsForMortgageDeposits
|
$1.66K | USD | 1 Quarter |
| Principal payments on mortgage payable |
PaymentsForMortgageDeposits
|
- | USD | 1 Quarter |
| Proceeds from IPO |
ProceedsFromIssuanceInitialPublicOffering
|
$13.00M | USD | 1 Quarter |
| Proceeds from IPO |
ProceedsFromIssuanceInitialPublicOffering
|
- | USD | 1 Quarter |
| Pre-offering costs incurred |
PreofferingCostsIncurred
|
$73.50K | USD | 1 Quarter |
| Pre-offering costs incurred |
PreofferingCostsIncurred
|
$1.54M | USD | 1 Quarter |
| Financing costs incurred |
PaymentOfFinancingAndStockIssuanceCosts
|
$65.05K | USD | 1 Quarter |
| Financing costs incurred |
PaymentOfFinancingAndStockIssuanceCosts
|
$13.65K | USD | 1 Quarter |
| Member contributions |
ProceedsFromPartnershipContribution
|
$1.86M | USD | 1 Quarter |
| Member contributions |
ProceedsFromPartnershipContribution
|
$653.65K | USD | 1 Quarter |
| Member distributions |
PaymentsOfPartnershipDistributions
|
$236.44K | USD | 1 Quarter |
| Member distributions |
PaymentsOfPartnershipDistributions
|
$2.46M | USD | 1 Quarter |
| NET CASH PROVIDED BY FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$5.67M | USD | 1 Quarter |
| NET CASH PROVIDED BY FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$487.81K | USD | 1 Quarter |
| NET DECREASE IN CASH |
CashPeriodIncreaseDecrease
|
$-205.96K | USD | 1 Quarter |
| NET DECREASE IN CASH |
CashPeriodIncreaseDecrease
|
$-639.90K | USD | 1 Quarter |
| CASH - BEGINNING OF PERIOD |
Cash
|
$1.36M | USD | Point-in-time |
| CASH - BEGINNING OF PERIOD |
Cash
|
$1.56M | USD | Point-in-time |
| CASH - BEGINNING OF PERIOD |
Cash
|
$1.83M | USD | Point-in-time |
| CASH - BEGINNING OF PERIOD |
Cash
|
$1.19M | USD | Point-in-time |
| CASH - END OF PERIOD |
Cash
|
$1.36M | USD | Point-in-time |
| CASH - END OF PERIOD |
Cash
|
$1.56M | USD | Point-in-time |
| CASH - END OF PERIOD |
Cash
|
$1.83M | USD | Point-in-time |
| CASH - END OF PERIOD |
Cash
|
$1.19M | USD | Point-in-time |
| Interest paid |
InterestPaid
|
$97.54K | USD | 1 Quarter |
| Interest paid |
InterestPaid
|
$101.71K | USD | 1 Quarter |
Stockholders Equity
9 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Balance |
MembersEquity
|
- | USD | Point-in-time |
| Balance |
MembersEquity
|
$28.49M | USD | Point-in-time |
| Member contributions |
PartnersCapitalAccountContributions
|
$653.65K | USD | 1 Quarter |
| Member distributions |
PartnersCapitalAccountDistributions
|
$2.46M | USD | 1 Quarter |
| Conversion of members' equity into common stock |
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
|
$-26.97M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$683.07K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$896.78K | USD | 1 Quarter |
| Balance |
MembersEquity
|
- | USD | Point-in-time |
| Balance |
MembersEquity
|
$28.49M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.