Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows(Unaudited)

v3.2.0.727
Statements of Cash Flows(Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net loss $ (320,974) $ (560,405)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 293,343 38,717
Amortization of deferred financing costs 59,593 7,776
Changes in operating assets and liabilities:    
Prepaid expense and other assets (22,226) 0
Accounts payable and accrued expenses (200,537) 57,782
Accrued management fees due to related party 180,000 90,000
Net cash used in operating activities (10,801) (366,130)
Investing activities    
Loans to related party (6,000) 0
Purchase of land, buildings and improvements 0 (21,867,065)
Net cash used in investing activities (6,000) (21,867,065)
Financing activities    
Loans from related party 1,950 15,963
Proceeds from notes payable to majority shareholder 350,000 7,811,515
Payments on notes payable to majority shareholder 0 (306,858)
Proceeds from notes payable related to acquisitions 0 15,060,000
Principal payments on notes payable related to acquisitions (167,329) 0
Dividends paid to common shareholders (127,800) 0
Payment of deferred financing costs 0 (335,986)
Net cash provided by financing activities 56,821 22,244,634
Net increase in cash and cash equivalents 40,020 11,439
Cash and cash equivalents-beginning of period 301,402 3,501
Cash and cash equivalents-end of period 341,422 14,940
Supplemental cash flow information:    
Cash payments for interest $ 690,575 $ 0