MANUFACTURED HOUSING PROPERTIES INC.

2023 Q4 Form 10-Q Financial Statement

#000095017023062863 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.000M
YoY Change 5.44%
Cash & Equivalents $1.967M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $300.0K
Other Receivables $0.00
Total Short-Term Assets $2.300M
YoY Change 2.61%
LONG-TERM ASSETS
Property, Plant & Equipment $109.3M
YoY Change 26.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.200M
YoY Change 3.63%
Total Long-Term Assets $115.8M
YoY Change 25.91%
TOTAL ASSETS
Total Short-Term Assets $2.300M
Total Long-Term Assets $115.8M
Total Assets $118.1M
YoY Change 25.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.000M
YoY Change 1.02%
Accrued Expenses $3.200M
YoY Change 94.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.300M
YoY Change 51.42%
LONG-TERM LIABILITIES
Long-Term Debt $121.7M
YoY Change 30.5%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $121.7M
YoY Change 30.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.300M
Total Long-Term Liabilities $121.7M
Total Liabilities $127.0M
YoY Change 31.23%
SHAREHOLDERS EQUITY
Retained Earnings -$18.56M
YoY Change 65.87%
Common Stock $124.9K
YoY Change 0.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$25.28M
YoY Change
Total Liabilities & Shareholders Equity $118.1M
YoY Change 25.35%

Cashflow Statement

Concept 2023 Q4 2023 Q3

Facts In Submission

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dei Entity Registrant Name
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MANUFACTURED HOUSING PROPERTIES INC.
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136 Main Street
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CY2022Q1 mhpc Preferred Shares Series B Dividends
PreferredSharesSeriesBDividends
-151875
CY2022Q1 mhpc Preferred Shares Series B Put Option Value Accretion
PreferredSharesSeriesBPutOptionValueAccretion
-184254
CY2022Q1 mhpc Deemed Dividend Sale To Vie
DeemedDividendSaleToVIE
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CY2022Q1 us-gaap Profit Loss
ProfitLoss
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CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
28062
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2022Q2 mhpc Preferred Shares Series A Dividends
PreferredSharesSeriesADividends
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CY2022Q2 mhpc Preferred Shares Series A Put Option Value Accretion
PreferredSharesSeriesAPutOptionValueAccretion
-117875
CY2022Q2 mhpc Preferred Shares Series B Dividends
PreferredSharesSeriesBDividends
-151785
CY2022Q2 mhpc Preferred Shares Series B Put Option Value Accretion
PreferredSharesSeriesBPutOptionValueAccretion
-184254
CY2022Q2 mhpc Deemed Dividend Sale To Vie
DeemedDividendSaleToVIE
-30000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-1343976
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-11898910
CY2022Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
28062
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
660
CY2022Q3 mhpc Preferred Shares Series A Dividends
PreferredSharesSeriesADividends
-94178
CY2022Q3 mhpc Preferred Shares Series A Put Option Value Accretion
PreferredSharesSeriesAPutOptionValueAccretion
-117726
CY2022Q3 mhpc Preferred Shares Series B Dividends
PreferredSharesSeriesBDividends
-151785
CY2022Q3 mhpc Preferred Shares Series B Put Option Value Accretion
PreferredSharesSeriesBPutOptionValueAccretion
-159472
CY2022Q3 mhpc Deemed Dividend Sale To Vie
DeemedDividendSaleToVIE
-30000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-5166125
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-17589474
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-19596219
CY2023Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
109974
CY2023Q1 mhpc Preferred Shares Series A Dividends
PreferredSharesSeriesADividends
-91633
CY2023Q1 mhpc Preferred Shares Series A Put Option Value Accretion
PreferredSharesSeriesAPutOptionValueAccretion
-114125
CY2023Q1 mhpc Preferred Shares Series B Dividends
PreferredSharesSeriesBDividends
-149665
CY2023Q1 mhpc Preferred Shares Series B Put Option Value Accretion
PreferredSharesSeriesBPutOptionValueAccretion
-181604
CY2023Q1 mhpc Deemed Dividend Sale To Vie
DeemedDividendSaleToVIE
-30000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-2117042
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-22170314
CY2023Q2 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
116358
CY2023Q2 mhpc Preferred Shares Series A Dividends
PreferredSharesSeriesADividends
-91300
CY2023Q2 mhpc Preferred Shares Series A Put Option Value Accretion
PreferredSharesSeriesAPutOptionValueAccretion
-114125
CY2023Q2 mhpc Preferred Shares Series B Dividends
PreferredSharesSeriesBDividends
-149665
CY2023Q2 mhpc Preferred Shares Series B Put Option Value Accretion
PreferredSharesSeriesBPutOptionValueAccretion
-181604
CY2023Q2 mhpc Preferred Shares Series D Dividends
PreferredSharesSeriesDDividends
-1132
CY2023Q2 mhpc Preferred Shares Series D Put Option Value Accretion
PreferredSharesSeriesDPutOptionValueAccretion
-307
CY2023Q2 mhpc Deemed Dividend Sale To Vie
DeemedDividendSaleToVIE
-30000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-2307002
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-24929091
CY2023Q3 mhpc Preferred Shares Series B Put Option Value Accretion
PreferredSharesSeriesBPutOptionValueAccretion
-181604
CY2023Q3 mhpc Preferred Shares Series D Dividends
PreferredSharesSeriesDDividends
-26924
CY2023Q3 mhpc Preferred Shares Series D Put Option Value Accretion
PreferredSharesSeriesDPutOptionValueAccretion
-3749
CY2023Q3 mhpc Deemed Dividend Sale To Vie
DeemedDividendSaleToVIE
-30000
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-2275980
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-27805971
us-gaap Profit Loss
ProfitLoss
-6700024
us-gaap Profit Loss
ProfitLoss
-7299791
mhpc Stock Compensation Expense
StockCompensationExpense
218106
mhpc Stock Compensation Expense
StockCompensationExpense
105884
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1016116
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
481545
mhpc Debt Extinguishment
DebtExtinguishment
2219591
mhpc Write Off Debt Issuance Costs Recorded As Debt Discount
WriteOffDebtIssuanceCostsRecordedAsDebtDiscount
49326
us-gaap Extinguishment Of Debt Gain Loss Income Tax
ExtinguishmentOfDebtGainLossIncomeTax
1400831
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
97922
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-56246
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3375561
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2477642
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-25508
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
168648
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-154202
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-413731
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
235857
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
451425
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
94001
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
158766
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1135555
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-348401
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-543040
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1853
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
3046274
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1872803
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
449000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
121164
mhpc Proceeds From Sale Of Home Deposits
ProceedsFromSaleOfHomeDeposits
85726
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
6528479
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
6444135
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
613783
mhpc Payments For Reimbursement From Pursuit Costs
PaymentsForReimbursementFromPursuitCosts
-81888
mhpc Payments For Reimbursement From Pursuit Costs
PaymentsForReimbursementFromPursuitCosts
291742
us-gaap Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
161716
us-gaap Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
471096
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9733638
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8958612
mhpc Proceeds From Lines Of Credit Related Party
ProceedsFromLinesOfCreditRelatedParty
4700000
mhpc Repayment Of Note Payable Lines Of Credit Related Party
RepaymentOfNotePayableLinesOfCreditRelatedParty
4350000
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
66071563
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
52774771
mhpc Proceeds From Repayment Of Lines Of Credit Upon Refinance Vies
ProceedsFromRepaymentOfLinesOfCreditUponRefinanceVies
3085607
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
55561
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
506656
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1353000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
444242
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
147144
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
743
mhpc Fees In Connection With Preferred Stock Issuance
FeesInConnectionWithPreferredStockIssuance
8513170
mhpc Fees In Connection With Preferred Stock Issuance
FeesInConnectionWithPreferredStockIssuance
10253917
mhpc Payment Of Debt Costs And Series C Preferred Stock Costs Recorded As Debt Discount
PaymentOfDebtCostsAndSeriesCPreferredStockCostsRecordedAsDebtDiscount
1126939
mhpc Payment Of Debt Costs And Series C Preferred Stock Costs Recorded As Debt Discount
PaymentOfDebtCostsAndSeriesCPreferredStockCostsRecordedAsDebtDiscount
3956743
mhpc Prepayment Penalty Upon Debt Extinguishment
PrepaymentPenaltyUponDebtExtinguishment
1400831
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
-326250
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
-172062
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
45000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
746685
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
728355
mhpc Distribution Vie
DistributionVIE
-90000
mhpc Distribution Vie
DistributionVIE
-90000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7076493
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13769054
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3200185
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4808589
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10405615
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2106329
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7205430
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6914918
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1966633
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1896839
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
5238797
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
5018079
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
7205430
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
6914918
CY2022Q4 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
5090369
CY2021Q4 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
1401134
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
5315246
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
705195
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
10405615
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2106329
us-gaap Interest Paid Net
InterestPaidNet
3826823
us-gaap Interest Paid Net
InterestPaidNet
2395384
us-gaap Interest Paid Discontinued Operations
InterestPaidDiscontinuedOperations
1288166
us-gaap Interest Paid Discontinued Operations
InterestPaidDiscontinuedOperations
484521
mhpc Proceeds Related To Line Of Credit
ProceedsRelatedToLineOfCredit
11378498
mhpc Proceeds Related To Line Of Credit
ProceedsRelatedToLineOfCredit
13188735
mhpc Noncash Purchase Of Homes
NoncashPurchaseOfHomes
891149
mhpc Noncash Purchase Of Homes
NoncashPurchaseOfHomes
881452
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
1061000
CY2020Q4 us-gaap Financing Receivable Percent Past Due1
FinancingReceivablePercentPastDue1
0.05
CY2021 mhpc Gvest Real Estate Llc Percentage
GvestRealEstateLLCPercentage
0.49
CY2021 mhpc Chairman And Chief Executive Officer Percentage
ChairmanAndChiefExecutiveOfficerPercentage
0.51
mhpc Purchase Of Shares Of Common Stock
PurchaseOfSharesOfCommonStock
423842
mhpc Purchase Of Shares Of Common Stock
PurchaseOfSharesOfCommonStock
357176
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The presentation of financial statements in conformity with GAAP requires management to make estimates and assumptions that effect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates include assumptions used in accounting and disclosures associated with acquisitions, depreciation of investment property, and recoverability and useful lives of long-lived assets.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q3 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P15Y
CY2023Q3 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
594822
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
18961
us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Impairment Policy</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company applies FASB ASC 360-10, “Property, Plant &amp; Equipment,” to measure impairment in real estate investments. Rental properties are individually evaluated for impairment when conditions exist which may indicate that it is probable that the sum of expected future cash flows (on an undiscounted basis without interest) from a rental property is less than the carrying value under its historical net cost basis. These expected future cash flows consider factors such as future operating income, trends and prospects as well as the effects of leasing demand, competition and other factors. Upon determination that a permanent impairment has occurred, rental properties are reduced to their fair value. For properties to be disposed of, an impairment loss is recognized when the fair value of the property, less the estimated cost to sell, is less than the carrying amount of the property measured at the time there is a commitment to sell the property and/or it is actively being marketed for sale. A property to be disposed of is reported at the lower of its carrying amount or its estimated fair value, less its cost to sell. Subsequent to the date that a property is held for disposition, depreciation expense is not recorded. There was no impairment during the three and nine months ended September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and 2022, respectively.</span></p>
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
5238797
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
1059403
CY2023Q3 us-gaap Escrow Deposit
EscrowDeposit
4179394
CY2022 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
879676
CY2022Q4 us-gaap Escrow Deposit
EscrowDeposit
4435570
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
1127000
CY2022 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
4006000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1966633
mhpc Portfolio Increase Rate
PortfolioIncreaseRate
218106
mhpc Portfolio Increase Rate
PortfolioIncreaseRate
105884
mhpc Tax Benefit Percentage
TaxBenefitPercentage
0.50
CY2023Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023Q3 us-gaap Variable Interest Entity Initial Consolidation Gain Or Loss
VariableInterestEntityInitialConsolidationGainOrLoss
220015
CY2022Q3 us-gaap Variable Interest Entity Initial Consolidation Gain Or Loss
VariableInterestEntityInitialConsolidationGainOrLoss
376105
CY2023Q3 us-gaap Management Fee Expense
ManagementFeeExpense
1576
CY2022Q3 us-gaap Management Fee Expense
ManagementFeeExpense
11045
us-gaap Variable Interest Entity Initial Consolidation Gain Or Loss
VariableInterestEntityInitialConsolidationGainOrLoss
666264
us-gaap Variable Interest Entity Initial Consolidation Gain Or Loss
VariableInterestEntityInitialConsolidationGainOrLoss
786590
us-gaap Management Fee Expense
ManagementFeeExpense
144017
us-gaap Management Fee Expense
ManagementFeeExpense
316624
CY2023Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
6667116
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
6232561
CY2023Q3 us-gaap Land
Land
37403653
CY2022Q4 us-gaap Land
Land
30263687
CY2023Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
49470418
CY2022Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
44035649
CY2023Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
31546780
CY2022Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
23229657
CY2023Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
2395765
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
2541376
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
120816616
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
100070369
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11564934
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8225976
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
109251682
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
91844393
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1174457
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
898963
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3375561
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2477642
mhpc Manufactured Homes
ManufacturedHomes
212141
CY2022 mhpc Manufactured Homes
ManufacturedHomes
1300000
CY2023Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
21
CY2023Q1 us-gaap Purchase Options Land
PurchaseOptionsLand
5350000
CY2023Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
18
CY2023Q1 us-gaap Purchase Options Land
PurchaseOptionsLand
2400000
mhpc Number Of Communities Acquired
NumberOfCommunitiesAcquired
9
mhpc Number Of Large Parcel Of Undeveloped Land Acquired
NumberOfLargeParcelOfUndevelopedLandAcquired
2
CY2022Q1 us-gaap Area Of Land
AreaOfLand
18.57
CY2022Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
15.09
CY2022Q1 us-gaap Purchase Options Land
PurchaseOptionsLand
2200000
CY2022Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
45
CY2022Q1 us-gaap Purchase Options Land
PurchaseOptionsLand
3050000
CY2022Q3 us-gaap Purchase Options Land
PurchaseOptionsLand
1700000
CY2022Q3 us-gaap Purchase Options Land
PurchaseOptionsLand
3044769
CY2022Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
75
CY2022Q3 us-gaap Purchase Options Land
PurchaseOptionsLand
5350000
mhpc Allocation Of Note Payable
AllocationOfNotePayable
300000
CY2023Q3 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
90604520
CY2022Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
79550080
CY2023Q3 mhpc Discount Direct Lender Fee
DiscountDirectLenderFee
-3656874
CY2022Q4 mhpc Discount Direct Lender Fee
DiscountDirectLenderFee
-3666214
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
86947646
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
75883866
CY2022Q3 mhpc Debt Instrument Number Of Loan Agreement
DebtInstrumentNumberOfLoanAgreement
23
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
62000000
CY2022Q3 us-gaap Escrow Deposit
EscrowDeposit
4000000
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2842213
CY2022Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
15751
CY2022Q2 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
258023
mhpc Total Lines Of Credit
TotalLinesOfCredit
7546577
CY2022 mhpc Total Lines Of Credit
TotalLinesOfCredit
6369319
CY2023Q3 mhpc Discount Direct Lender Fees
DiscountDirectLenderFees
-201844
CY2022Q4 mhpc Discount Direct Lender Fees
DiscountDirectLenderFees
-160372
mhpc Total Net Of Discounts
TotalNetOfDiscounts
7344733
CY2022 mhpc Total Net Of Discounts
TotalNetOfDiscounts
6208947
mhpc Drew Down Related To Occupied Home Facility
DrewDownRelatedToOccupiedHomeFacility
1353000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.01
mhpc Sharebased Compensation Arrangement By Sharebased Payment Award Option Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionOutstandingWeightedAverageRemainingContractualTerm
P6Y7M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.32
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
50000
CY2022Q3 mhpc Maturity Date
MaturityDate
2023-04-01
CY2022Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.15
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
59167
us-gaap Interest Expense Debt
InterestExpenseDebt
87542
mhpc Promissory Notes Description
PromissoryNotesDescription
This note has a five-year term and is interest-only based on a 15% annual rate through the maturity date and is unsecured
us-gaap Dividends Paidinkind
DividendsPaidinkind
269633
us-gaap Dividends Paidinkind
DividendsPaidinkind
282778
mhpc Initial Issuance Of Shares
InitialIssuanceOfShares
Commencing on the fifth anniversary of the initial issuance of shares of Series A Preferred Stock and continuing indefinitely thereafter, the Company will have a right to call for redemption the outstanding shares of Series A Preferred Stock at a call price equal to $3.75, or 150% of the original issue price of the Series A Preferred Stock, and correspondingly, each holder of shares of Series A Preferred Stock shall have a right to put the shares of Series A Preferred Stock held by such holder back to the Company at a put price equal to $3.75, or 150% of the original issue purchase price of such shares
CY2023Q3 mhpc Option Value Accretion
OptionValueAccretion
342281
CY2022Q3 mhpc Option Value Accretion
OptionValueAccretion
353472
mhpc Redemption Price Include Premium Stated Value
RedemptionPriceIncludePremiumStatedValue
0.10
mhpc Designation Description
DesignationDescription
the Company launched a new offering under Regulation A of Section 3(6) of the Securities Act of 1933, as amended (the “Securities Act”) for Tier 2 offerings, pursuant to which the Company is offering up to 47,000 shares of Series C Preferred Stock at an offering price of $1,000 per share for a maximum offering amount of $47,000,000.
CY2023Q3 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
43785
CY2022Q3 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
18383
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12493012
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12493012
mhpc Stock Issued During Period Shares Of Common Stock
StockIssuedDuringPeriodSharesOfCommonStock
0
mhpc Stock Issued During Period Shares Of Common Stock
StockIssuedDuringPeriodSharesOfCommonStock
0
us-gaap Stock Issued During Period Value Stock Options Exercised Net Of Tax Benefit Expense
StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense
218106
us-gaap Stock Issued During Period Value Stock Options Exercised Net Of Tax Benefit Expense
StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense
105884
mhpc Stock Issued Value Stock Options
StockIssuedValueStockOptions
50000
CY2022 mhpc Stock Issued Value Stock Options
StockIssuedValueStockOptions
50000
CY2023Q3 mhpc Stock Forfeited Value Stock Options
StockForfeitedValueStockOptions
50000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
538842
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
1.32
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
538842
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.06
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M6D
mhpc Number Of Optionsexercisable
NumberOfOptionsexercisable
423842
mhpc Weighted Average Exercise Priceper Share Exercisable
WeightedAverageExercisePriceperShareExercisable
0.03
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y4M24D
mhpc Aggregate Share Of Money Options
AggregateShareOfMoneyOptions
538842
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
535896
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019Q3 us-gaap Lease Cost
LeaseCost
12000
us-gaap Payments For Rent
PaymentsForRent
108000
us-gaap Payments For Rent
PaymentsForRent
108000
CY2023Q3 us-gaap Payments For Rent
PaymentsForRent
36000
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
36000
CY2022Q3 mhpc Consulting Agreement Per Month
ConsultingAgreementPerMonth
8000
us-gaap Custody Fees
CustodyFees
72000
us-gaap Custody Fees
CustodyFees
8000
CY2023Q3 us-gaap Custody Fees
CustodyFees
24000
CY2022Q3 us-gaap Custody Fees
CustodyFees
8000
mhpc Personal Guaranties On Promissory Notes
PersonalGuarantiesOnPromissoryNotes
245000
mhpc Accrued Guaranty Fee
AccruedGuarantyFee
245000
us-gaap Proceeds From Fees Received
ProceedsFromFeesReceived
1080000
CY2021 us-gaap Proceeds From Fees Received
ProceedsFromFeesReceived
250000
CY2022 mhpc Accrued Guaranty Fee
AccruedGuarantyFee
1000000
CY2023Q3 mhpc Loan Portfolio Refinance Amount For Personal Guaranty
LoanPortfolioRefinanceAmountForPersonalGuaranty
62000000

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