Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.8.0.1
Consolidated Statements of Operations - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue        
Rental revenue $ 7,921,913 $ 1,932,425 $ 19,217,710 $ 4,994,172
Expense recoveries 443,816 0 1,141,455 0
Other income 23,134 70,225 111,502 93,196
Total revenue 8,388,863 2,002,650 20,470,667 5,087,368
Expenses        
Acquisition fees 651,645 0 2,130,187 0
Acquisition fees - related party 0 0 0 754,000
General and administrative 989,526 1,720,651 4,418,115 2,962,730
Operating expenses 464,514 1,025 1,234,247 15,685
Management fees - related party 803,804 627,147 2,059,325 [1] 807,147
Depreciation expense 2,175,668 585,449 5,372,308 1,528,281
Amortization expense 523,487 0 1,326,395 0
Interest expense 2,174,683 1,051,204 5,265,262 3,443,113
Total expenses 7,783,327 3,985,476 21,805,839 9,510,956
Net income (loss) 605,536 (1,982,826) (1,335,172) (4,423,588)
Less: Preferred stock dividends (258,750) 0 (258,750) 0
Less: Net loss attributable to noncontrolling interest 34,482 0 34,482 0
Net income (loss) attributable to common stockholders $ 381,268 $ (1,982,826) $ (1,559,440) $ (4,423,588)
Net income (loss) attributable to common stockholders per share - basic and diluted $ 0.02 $ (0.11) $ (0.08) $ (0.68)
Weighted average shares outstanding - basic and diluted 21,522,251 17,371,743 18,938,367 6,514,230
[1] Net amount accrued of $183,096 consists of $2,059,325 in management fee expense incurred, net of $1,876,229 of accrued management fees that were paid to the Advisor. This represents a cash flow operating activity.