Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.7.0.1
Consolidated Statements of Operations - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue        
Rental revenue $ 6,666,538 $ 1,762,769 $ 11,295,797 $ 3,061,747
Expense recoveries 697,639 0 697,639 0
Other income 58,769 7,890 88,368 22,971
Total revenue 7,422,946 1,770,659 12,081,804 3,084,718
Expenses        
Acquisition fees 536,069 0 1,478,542 0
Acquisition fees - related party 0 0 0 754,000
General and administrative 2,580,874 368,210 4,198,322 1,256,739
Management fees - related party 628,374 90,000 1,255,521 [1] 180,000
Depreciation expense 1,850,587 544,002 3,196,640 942,832
Amortization expense 459,308 0 802,908 0
Interest expense 1,990,499 1,262,646 3,090,579 2,391,909
Total expenses 8,045,711 2,264,858 14,022,512 5,525,480
Net loss $ (622,765) $ (494,199) $ (1,940,708) $ (2,440,762)
Net loss per share - Basic and Diluted $ (0.04) $ (0.35) $ (0.11) $ (2.38)
Weighted average shares outstanding - Basic and Diluted 17,644,137 1,426,656 17,624,906 1,025,821
[1] Net amount accrued of $7,665 consists of $1,255,521 in management fee expense incurred, net of $1,247,856 of accrued management fees that were paid to the Advisor. This represents a cash flow operating activity.