PILLARSTONE CAPITAL REIT

2022 Q3 Form 10-Q Financial Statement

#000143774922020388 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.796M $5.206M
YoY Change 0.8% 1.9%
Cash & Equivalents $4.796M $5.206M
Short-Term Investments
Other Short-Term Assets $257.0K $126.0K
YoY Change 32.47% 53.66%
Inventory
Prepaid Expenses
Receivables $1.404M $1.011M
Other Receivables $2.960M $2.503M
Total Short-Term Assets $9.417M $8.846M
YoY Change 18.95% 9.96%
LONG-TERM ASSETS
Property, Plant & Equipment $48.08M $48.27M
YoY Change -1.31% -1.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $48.49M $48.74M
YoY Change -1.45% -1.76%
TOTAL ASSETS
Total Short-Term Assets $9.417M $8.846M
Total Long-Term Assets $48.49M $48.74M
Total Assets $57.90M $57.58M
YoY Change 1.38% -0.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.175M $846.0K
YoY Change 81.89% 152.54%
Accrued Expenses $194.0K $185.0K
YoY Change 10.23% 7.56%
Deferred Revenue
YoY Change
Short-Term Debt $198.0K $198.0K
YoY Change 0.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.858M $2.056M
YoY Change 38.43% 34.38%
LONG-TERM LIABILITIES
Long-Term Debt $14.93M $14.92M
YoY Change -0.84% -1.75%
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $14.93M $14.92M
YoY Change -0.84% -1.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.858M $2.056M
Total Long-Term Liabilities $14.93M $14.92M
Total Liabilities $18.79M $18.67M
YoY Change 1.62% -2.85%
SHAREHOLDERS EQUITY
Retained Earnings -$23.97M -$23.88M
YoY Change 0.87% 1.1%
Common Stock $7.000K $7.000K
YoY Change 16.67% 16.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $801.0K $801.0K
YoY Change 0.0% 0.0%
Treasury Stock Shares $38.13K $38.13K
Shareholders Equity $3.730M $3.822M
YoY Change
Total Liabilities & Shareholders Equity $57.90M $57.58M
YoY Change 1.38% -0.13%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
299000 usd
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
700000 usd
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
504000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-700000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-504000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
318000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
146000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-318000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-146000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-410000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-351000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5206000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5109000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4796000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4758000 usd
us-gaap Interest Paid Net
InterestPaidNet
388000 usd
us-gaap Interest Paid Net
InterestPaidNet
396000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
44000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
51000 usd
pscr Disposal Of Fully Depreciated Assets
DisposalOfFullyDepreciatedAssets
326000 usd
pscr Disposal Of Fully Depreciated Assets
DisposalOfFullyDepreciatedAssets
137000 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
311000 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
0 usd
pscr Operating Lease Lease Income Bad Debt Expense
OperatingLeaseLeaseIncomeBadDebtExpense
29000 usd
CY2021Q2 pscr Operating Lease Lease Income Bad Debt Expense Covid19
OperatingLeaseLeaseIncomeBadDebtExpenseCovid19
10913 usd
pscr Operating Lease Lease Income Bad Debt Expense Covid19
OperatingLeaseLeaseIncomeBadDebtExpenseCovid19
51174 usd
us-gaap Use Of Estimates
UseOfEstimates
<i>Use of estimates. </i> In order to conform with generally accepted accounting principles in the United States ("U.S. GAAP"), management, in preparation of our condensed consolidated financial statements, is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of <em style="font: inherit;"> June 30, 2022</em> and <em style="font: inherit;"> December 31, 2021</em>, and the reported amounts of revenues and expenses for the <em style="font: inherit;">three</em> and <em style="font: inherit;">six</em> months ended <em style="font: inherit;"> June 30, 2022 </em>and <em style="font: inherit;">2021</em>. Actual results could differ from those estimates. Significant estimates that we use include the estimated fair value of properties acquired, allowance for doubtful accounts, impairment, the estimated useful lives for depreciable and amortizable assets and costs, and deferred taxes and the related valuation allowance for deferred taxes.
us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<i>Impairment.</i>  We review our properties for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of the assets, including accrued rental income, <em style="font: inherit;"> may </em><em style="font: inherit;">not</em> be recoverable through operations.  We determine whether an impairment in value has occurred by comparing the estimated future cash flows (undiscounted and without interest charges), including the estimated residual value of the property, with the carrying cost of the property. If impairment is indicated, a loss will be recorded for the amount by which the carrying value of the property exceeds its fair value.  Management has determined that there has been no impairment in the carrying value of our real estate assets as of <em style="font: inherit;"> June 30, 2022</em>.
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
577000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
538000 usd
CY2022Q2 pscr Operating Lease Lease Income Bad Debt Expense
OperatingLeaseLeaseIncomeBadDebtExpense
24000 usd
pscr Operating Lease Lease Income Bad Debt Expense
OperatingLeaseLeaseIncomeBadDebtExpense
39000 usd
CY2022Q2 pscr Operating Lease Lease Income Bad Debt Expense Covid19
OperatingLeaseLeaseIncomeBadDebtExpenseCovid19
0 usd
pscr Operating Lease Lease Income Bad Debt Expense Covid19
OperatingLeaseLeaseIncomeBadDebtExpenseCovid19
40000 usd
CY2021Q2 pscr Operating Lease Lease Income Bad Debt Expense
OperatingLeaseLeaseIncomeBadDebtExpense
-11000 usd
CY2022Q2 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
1349000 usd
CY2021Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
1364000 usd
CY2022Q2 pscr Deferred Legal Cost
DeferredLegalCost
12000 usd
CY2021Q4 pscr Deferred Legal Cost
DeferredLegalCost
12000 usd
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
1000 usd
CY2021Q2 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
1000 usd
pscr Uncertain Tax Position To Be Recognized Based On Maximum Cumulative Probability Percentage
UncertainTaxPositionToBeRecognizedBasedOnMaximumCumulativeProbabilityPercentage
0.50 pure
CY2022Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
139000 usd
CY2022Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
11000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
36000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<i>Concentration of Risk.</i>  Substantially all of our revenues are obtained from office and warehouse locations in the Dallas and Houston metropolitan areas. We maintain cash accounts in major U.S. financial institutions. The terms of these deposits are on demand to minimize risk. The balances of these accounts sometimes exceed the federally insured limits, although <em style="font: inherit;">no</em> losses have been incurred in connection with these deposits.
CY2022Q2 pscr Unamortized Lease Commissions And Loan Costs Gross
UnamortizedLeaseCommissionsAndLoanCostsGross
1361000 usd
CY2021Q4 pscr Unamortized Lease Commissions And Loan Costs Gross
UnamortizedLeaseCommissionsAndLoanCostsGross
1376000 usd
CY2022Q2 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
947000 usd
CY2021Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
901000 usd
CY2022Q2 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
12000 usd
CY2022Q2 pscr Tenant Receivables
TenantReceivables
815000 usd
CY2021Q4 pscr Tenant Receivables
TenantReceivables
733000 usd
CY2022Q2 pscr Accrued Rent And Other Recoveries
AccruedRentAndOtherRecoveries
1030000 usd
CY2021Q4 pscr Accrued Rent And Other Recoveries
AccruedRentAndOtherRecoveries
1065000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
577000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
538000 usd
CY2022Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
1268000 usd
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
1260000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
3559000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
5276000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
3186000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1558000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
917000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
299000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
14795000 usd
CY2021Q4 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
11000 usd
CY2022Q2 pscr Unamortized Lease Commissions And Loan Costs Net
UnamortizedLeaseCommissionsAndLoanCostsNet
402000 usd
CY2021Q4 pscr Unamortized Lease Commissions And Loan Costs Net
UnamortizedLeaseCommissionsAndLoanCostsNet
464000 usd
CY2022Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
8 pure
CY2022Q2 us-gaap Net Rentable Area
NetRentableArea
900000
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
34000 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
48000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
14927000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
14920000 usd
CY2015Q4 pscr Debt Instrument Number Of Trustees
DebtInstrumentNumberOfTrustees
5 pure
CY2022Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
197780 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-75000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-60000 usd
us-gaap Net Income Loss
NetIncomeLoss
-92000 usd
us-gaap Net Income Loss
NetIncomeLoss
-145000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
657084
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
595000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
657084
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
595000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
657084
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
595000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
657084
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
595000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24

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ex_391197.htm Edgar Link pending
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ex_391199.htm Edgar Link pending
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