10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001144204-18-028692 |
| Period End Date | 20180331 |
| Filing Date | 20180515 |
| Fiscal Year | 2018 |
| Fiscal Period | Q1 |
| XBRL Instance | sach-20180331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
72 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
|
$954.22K | USD | Point-in-time |
| Preferred Stock, Shares Authorized |
PreferredStockSharesAuthorized
|
5.00M | shares | Point-in-time |
| Cash |
Cash
|
$1.56M | USD | Point-in-time |
| Cash |
Cash
|
$562.51K | USD | Point-in-time |
| Cash |
Cash
|
$1.36M | USD | Point-in-time |
| Preferred Stock, Shares Authorized |
PreferredStockSharesAuthorized
|
5.00M | shares | Point-in-time |
| Escrow deposits |
EscrowDeposit
|
$175.33K | USD | Point-in-time |
| Escrow deposits |
EscrowDeposit
|
$111.19K | 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 |
| Mortgages receivable |
MortgageLoansOnRealEstate
|
$68.61M | USD | Point-in-time |
| Mortgages receivable |
MortgageLoansOnRealEstate
|
$62.17M | 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, Shares Authorized |
CommonStockSharesAuthorized
|
50.00M | shares | Point-in-time |
| Common Stock, Shares Authorized |
CommonStockSharesAuthorized
|
50.00M | shares | Point-in-time |
| Mortgages receivable, affiliate |
MortgagesReceivableFromAffiliate
|
$1.10M | USD | Point-in-time |
| Mortgages receivable, affiliate |
MortgagesReceivableFromAffiliate
|
$969.46K | USD | Point-in-time |
| Interest and fees receivable |
InterestReceivable
|
$645.49K | USD | Point-in-time |
| Common Stock, Shares, Issued |
CommonStockSharesIssued
|
15.42M | shares | Point-in-time |
| Common Stock, Shares, Issued |
CommonStockSharesIssued
|
15.42M | shares | Point-in-time |
| Interest and fees receivable |
InterestReceivable
|
$779.52K | USD | Point-in-time |
| Other receivables |
OtherReceivables
|
$234.57K | USD | Point-in-time |
| Common Stock, Shares, Outstanding |
CommonStockSharesOutstanding
|
15.42M | shares | Point-in-time |
| Common Stock, Shares, Outstanding |
CommonStockSharesOutstanding
|
15.42M | shares | Point-in-time |
| Other receivables |
OtherReceivables
|
$59.16K | USD | Point-in-time |
| Due from borrowers |
DueFromAffiliates
|
$370.24K | USD | Point-in-time |
| Due from borrowers |
DueFromAffiliates
|
$451.80K | USD | Point-in-time |
| Prepaid expenses |
PrepaidExpenseCurrentAndNoncurrent
|
$32.77K | USD | Point-in-time |
| Prepaid expenses |
PrepaidExpenseCurrentAndNoncurrent
|
$4.52K | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$501.82K | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$496.17K | USD | Point-in-time |
| Real estate owned |
RealEstateInvestments
|
$1.22M | USD | Point-in-time |
| Real estate owned |
RealEstateInvestments
|
$1.24M | USD | Point-in-time |
| Deferred financing costs |
DeferredFinanceCostsNet
|
$95.56K | USD | Point-in-time |
| Deferred financing costs |
DeferredFinanceCostsNet
|
$136.00K | USD | Point-in-time |
| Total assets |
Assets
|
$73.43M | USD | Point-in-time |
| Total assets |
Assets
|
$67.49M | USD | Point-in-time |
| Line of credit |
LineOfCredit
|
$9.84M | USD | Point-in-time |
| Line of credit |
LineOfCredit
|
$14.15M | USD | Point-in-time |
| Mortgage payable |
NotesPayable
|
$301.10K | USD | Point-in-time |
| Mortgage payable |
NotesPayable
|
$298.57K | USD | Point-in-time |
| Mortgage funding payable |
MortgageFundingPayable
|
$2.00M | USD | Point-in-time |
| Mortgage funding payable |
MortgageFundingPayable
|
- | USD | Point-in-time |
| Accounts payable and accrued expenses |
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
$390.76K | USD | Point-in-time |
| Accounts payable and accrued expenses |
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
$158.84K | USD | Point-in-time |
| Security deposit held |
SecurityDepositLiability
|
$2.55K | USD | Point-in-time |
| Security deposit held |
SecurityDepositLiability
|
$2.55K | USD | Point-in-time |
| Advances from borrowers |
AdvancePaymentsByBorrowersForTaxesAndInsurance
|
$733.29K | USD | Point-in-time |
| Advances from borrowers |
AdvancePaymentsByBorrowersForTaxesAndInsurance
|
$519.76K | USD | Point-in-time |
| Due to note purchaser |
NotesPayableRelatedPartiesCurrentAndNoncurrent
|
$723.48K | USD | Point-in-time |
| Due to note purchaser |
NotesPayableRelatedPartiesCurrentAndNoncurrent
|
- | USD | Point-in-time |
| Deferred revenue |
DeferredRevenue
|
$1.11M | USD | Point-in-time |
| Deferred revenue |
DeferredRevenue
|
$1.17M | USD | Point-in-time |
| Accrued interest |
InterestPayableCurrentAndNoncurrent
|
$40.59K | USD | Point-in-time |
| Accrued interest |
InterestPayableCurrentAndNoncurrent
|
- | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$18.51M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$12.93M | 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 shares - $.001 par value; 50,000,000 shares authorized; 15,415,737 issued and outstanding |
CommonStockValue
|
$15.42K | USD | Point-in-time |
| Common shares - $.001 par value; 50,000,000 shares authorized; 15,415,737 issued and outstanding |
CommonStockValue
|
$15.42K | USD | Point-in-time |
| Paid-in capital |
AdditionalPaidInCapital
|
$53.32M | USD | Point-in-time |
| Paid-in capital |
AdditionalPaidInCapital
|
$53.32M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$1.24M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$1.59M | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquity
|
$54.57M | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquity
|
$54.92M | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$73.43M | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$67.49M | USD | Point-in-time |
Income Statement
44 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Interest income from loans |
InterestAndFeeIncomeLoansAndLeases
|
$1.04M | USD | 1 Quarter |
| Interest income from loans |
InterestAndFeeIncomeLoansAndLeases
|
$1.96M | USD | 1 Quarter |
| Origination fees, net |
OriginationFees
|
$348.55K | USD | 1 Quarter |
| Origination fees, net |
OriginationFees
|
$97.46K | USD | 1 Quarter |
| Late and other fees |
FeesAndCommissionsCreditAndDebitCards
|
$34.10K | USD | 1 Quarter |
| Late and other fees |
FeesAndCommissionsCreditAndDebitCards
|
$29.98K | USD | 1 Quarter |
| Processing fees |
ProcessingFees
|
$33.13K | USD | 1 Quarter |
| Processing fees |
ProcessingFees
|
$24.93K | USD | 1 Quarter |
| Rental income, net |
RentalIncomeNonoperating
|
$43.76K | USD | 1 Quarter |
| Rental income, net |
RentalIncomeNonoperating
|
$27.38K | USD | 1 Quarter |
| Other income |
OtherIncome
|
$294.75K | USD | 1 Quarter |
| Other income |
OtherIncome
|
$46.15K | USD | 1 Quarter |
| Gain on sale of real estate |
GainOnSaleOfRealEstateInvestement
|
- | USD | 1 Quarter |
| Gain on sale of real estate |
GainOnSaleOfRealEstateInvestement
|
$26.48K | USD | 1 Quarter |
| Total revenue |
Revenues
|
$1.29M | USD | 1 Quarter |
| Total revenue |
Revenues
|
$2.72M | USD | 1 Quarter |
| Interest and amortization of deferred financing costs |
InterestAndAmortizationOfDebtServiceCosts
|
$116.27K | USD | 1 Quarter |
| Interest and amortization of deferred financing costs |
InterestAndAmortizationOfDebtServiceCosts
|
$222.96K | USD | 1 Quarter |
| Compensation and related costs |
LaborAndRelatedExpense
|
- | USD | 1 Quarter |
| Compensation and related costs |
LaborAndRelatedExpense
|
$245.57K | USD | 1 Quarter |
| Compensation to manager |
SalariesAndWages
|
$35.85K | USD | 1 Quarter |
| Compensation to manager |
SalariesAndWages
|
- | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$83.74K | USD | 1 Quarter |
| Professional fees |
ProfessionalFees
|
$116.32K | USD | 1 Quarter |
| Other fees and taxes |
TaxesAndLicenses
|
$105.84K | USD | 1 Quarter |
| Other fees and taxes |
TaxesAndLicenses
|
$34.48K | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$7.63K | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$5.16K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$98.03K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$45.59K | USD | 1 Quarter |
| Excise tax |
ExciseAndSalesTaxes
|
- | USD | 1 Quarter |
| Excise tax |
ExciseAndSalesTaxes
|
$19.00K | USD | 1 Quarter |
| Total operating costs and expenses |
CostsAndExpenses
|
$744.00K | USD | 1 Quarter |
| Total operating costs and expenses |
CostsAndExpenses
|
$392.44K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$896.78K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$1.97M | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$0.13 | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$0.06 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$0.06 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$0.13 | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
11.10M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
15.42M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
15.42M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
11.10M | shares | 1 Quarter |
Cash Flow Statement
81 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
NetIncomeLoss
|
$896.78K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$1.97M | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$14.56K | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$14.56K | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$7.63K | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$5.16K | USD | 1 Quarter |
| Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued |
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
|
6.28M | shares | Point-in-time |
| Gain on sale of real estate |
GainsLossesOnSalesOfInvestmentRealEstate
|
$26.48K | USD | 1 Quarter |
| Gain on sale of real estate |
GainsLossesOnSalesOfInvestmentRealEstate
|
- | USD | 1 Quarter |
| Notes Issued |
NotesIssued1
|
$169.34K | USD | 1 Quarter |
| Proceeds From Mortgages Funding Payable |
ProceedsFromMortgagesFundingPayable
|
$2.00M | USD | 1 Quarter |
| Escrow deposit |
IncreaseDecreaseInEscrowDeposit
|
$596.07K | USD | 1 Quarter |
| Escrow deposit |
IncreaseDecreaseInEscrowDeposit
|
$64.14K | USD | 1 Quarter |
| Interest and fees receivable |
IncreaseDecreaseInInterestAndFeesReceivable
|
$134.02K | USD | 1 Quarter |
| Interest and fees receivable |
IncreaseDecreaseInInterestAndFeesReceivable
|
$19.50K | USD | 1 Quarter |
| Other receivables |
IncreaseDecreaseInOtherReceivables
|
$-4.61K | USD | 1 Quarter |
| Other receivables |
IncreaseDecreaseInOtherReceivables
|
$-256.97K | USD | 1 Quarter |
| Prepaid expenses |
IncreaseDecreaseInPrepaidInsurance
|
$28.25K | USD | 1 Quarter |
| Prepaid expenses |
IncreaseDecreaseInPrepaidInsurance
|
$32.26K | USD | 1 Quarter |
| Due to member |
IncreaseDecreaseInDueToOfficersAndStockholders
|
- | USD | 1 Quarter |
| Due to member |
IncreaseDecreaseInDueToOfficersAndStockholders
|
$-630.73K | USD | 1 Quarter |
| Due to note purchaser |
IncreaseDecreaseInNotesPayableCurrent
|
- | USD | 1 Quarter |
| Due to note purchaser |
IncreaseDecreaseInNotesPayableCurrent
|
$-723.48K | USD | 1 Quarter |
| Accrued interest |
IncreaseDecreaseInInterestPayableNet
|
$-11.31K | USD | 1 Quarter |
| Accrued interest |
IncreaseDecreaseInInterestPayableNet
|
$-40.77K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$-231.74K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$314.87K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$60.22K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$112.31K | USD | 1 Quarter |
| Advances from borrowers |
IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance
|
$213.52K | USD | 1 Quarter |
| Advances from borrowers |
IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance
|
$307.54K | USD | 1 Quarter |
| Total adjustments |
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
$-557.30K | USD | 1 Quarter |
| Total adjustments |
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
$-669.50K | USD | 1 Quarter |
| NET CASH PROVIDED BY OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivities
|
$339.48K | USD | 1 Quarter |
| NET CASH PROVIDED BY OPERATING ACTIVITIES |
NetCashProvidedByUsedInOperatingActivities
|
$1.30M | USD | 1 Quarter |
| Proceeds from sale of real estate owned |
ProceedsFromSaleOfRealEstate
|
$90.12K | USD | 1 Quarter |
| Proceeds from sale of real estate owned |
ProceedsFromSaleOfRealEstate
|
- | USD | 1 Quarter |
| Acquisitions of and improvements to real estate owned |
PaymentsToAcquireRealEstate
|
$11.00K | USD | 1 Quarter |
| Acquisitions of and improvements to real estate owned |
PaymentsToAcquireRealEstate
|
$18.48K | USD | 1 Quarter |
| Purchase of furniture and equipment |
PaymentsToAcquireFurnitureAndFixtures
|
$102.33K | USD | 1 Quarter |
| Purchase of furniture and equipment |
PaymentsToAcquireFurnitureAndFixtures
|
$1.99K | USD | 1 Quarter |
| Security deposit |
PaymentsToAcquireInvestments
|
- | USD | 1 Quarter |
| Security deposit |
PaymentsToAcquireInvestments
|
$32.00K | USD | 1 Quarter |
| Principal disbursements for mortgages receivable |
PaymentsToAcquireMortgageReceivable
|
$10.35M | USD | 1 Quarter |
| Principal disbursements for mortgages receivable |
PaymentsToAcquireMortgageReceivable
|
$10.09M | USD | 1 Quarter |
| Principal collections on mortgages receivable |
ProceedsFromCollectionOfMortagageReceivable
|
$3.94M | USD | 1 Quarter |
| Principal collections on mortgages receivable |
ProceedsFromCollectionOfMortagageReceivable
|
$6.03M | USD | 1 Quarter |
| NET CASH USED FOR INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivities
|
$-4.32M | USD | 1 Quarter |
| NET CASH USED FOR INVESTING ACTIVITIES |
NetCashProvidedByUsedInInvestingActivities
|
$-6.22M | USD | 1 Quarter |
| Proceeds from line of credit |
ProceedsFromLinesOfCredit
|
$13.29M | 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
|
$8.98M | USD | 1 Quarter |
| Principal payments on mortgage payable |
PaymentsForProceedsFromMortgageDeposits
|
$1.66K | USD | 1 Quarter |
| Principal payments on mortgage payable |
PaymentsForProceedsFromMortgageDeposits
|
$2.53K | USD | 1 Quarter |
| Proceeds from IPO |
ProceedsFromIssuanceInitialPublicOffering
|
- | USD | 1 Quarter |
| Proceeds from IPO |
ProceedsFromIssuanceInitialPublicOffering
|
$13.00M | USD | 1 Quarter |
| Dividends paid |
PaymentsOfOrdinaryDividends
|
- | USD | 1 Quarter |
| Dividends paid |
PaymentsOfOrdinaryDividends
|
$1.62M | USD | 1 Quarter |
| Pre-offering costs incurred |
PreofferingCostsIncurred
|
- | USD | 1 Quarter |
| Pre-offering costs incurred |
PreofferingCostsIncurred
|
$1.54M | USD | 1 Quarter |
| Financing costs incurred |
PaymentOfFinancingAndStockIssuanceCosts
|
$13.65K | USD | 1 Quarter |
| Financing costs incurred |
PaymentOfFinancingAndStockIssuanceCosts
|
$55.00K | USD | 1 Quarter |
| Member contributions |
ProceedsFromPartnershipContribution
|
$653.65K | USD | 1 Quarter |
| Member contributions |
ProceedsFromPartnershipContribution
|
- | USD | 1 Quarter |
| Member distributions |
PaymentsOfPartnershipDistributions
|
$2.46M | USD | 1 Quarter |
| Member distributions |
PaymentsOfPartnershipDistributions
|
- | USD | 1 Quarter |
| NET CASH PROVIDED BY FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivities
|
$2.63M | USD | 1 Quarter |
| NET CASH PROVIDED BY FINANCING ACTIVITIES |
NetCashProvidedByUsedInFinancingActivities
|
$5.67M | USD | 1 Quarter |
| NET DECREASE IN CASH |
CashPeriodIncreaseDecrease
|
$-391.71K | USD | 1 Quarter |
| NET DECREASE IN CASH |
CashPeriodIncreaseDecrease
|
$-205.96K | USD | 1 Quarter |
| CASH - BEGINNING OF PERIOD |
Cash
|
$954.22K | USD | Point-in-time |
| CASH - BEGINNING OF PERIOD |
Cash
|
$1.56M | USD | Point-in-time |
| CASH - BEGINNING OF PERIOD |
Cash
|
$562.51K | USD | Point-in-time |
| CASH - BEGINNING OF PERIOD |
Cash
|
$1.36M | USD | Point-in-time |
| CASH - END OF PERIOD |
Cash
|
$954.22K | USD | Point-in-time |
| CASH - END OF PERIOD |
Cash
|
$1.56M | USD | Point-in-time |
| CASH - END OF PERIOD |
Cash
|
$562.51K | USD | Point-in-time |
| CASH - END OF PERIOD |
Cash
|
$1.36M | USD | Point-in-time |
| Interest paid |
InterestPaidNet
|
$208.40K | USD | 1 Quarter |
| Interest paid |
InterestPaidNet
|
$101.71K | USD | 1 Quarter |
Stockholders Equity
6 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Beginning balance |
StockholdersEquity
|
$54.57M | USD | Point-in-time |
| Beginning balance |
StockholdersEquity
|
$54.92M | USD | Point-in-time |
| Net income |
NetIncomeLoss
|
$896.78K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$1.97M | USD | 1 Quarter |
| Balance |
StockholdersEquity
|
$54.57M | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$54.92M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.