$AHR
American Healthcare REIT, Inc.

2016 Q2 Form 10-Q Financial Statement

#000163297016000085 Filed on May 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q4
Revenue $3.000K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit -$613.0K -$150.0K
YoY Change
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$613.0K -$150.0K
YoY Change
Net Earnings / Revenue -20433.33%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 359.1K shares 20.83K shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $9.052M $202.0K $202.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $15.34M $428.0K $202.0K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $3.425M $344.0K $0.00
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$851.0K -$150.0K $0.00
YoY Change
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.91M $82.00K $200.0K
YoY Change
Total Liabilities & Shareholders Equity $15.34M $428.0K $202.0K
YoY Change

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q4
OPERATING ACTIVITIES
Net Income -$613.0K -$150.0K
YoY Change
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change
Cash From Operating Activities $0.00
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities $0.00
Cash From Investing Activities $0.00
Cash From Financing Activities $0.00
Net Change In Cash $0.00
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities $0.00
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2016Q1 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1. Organization and Description of Business</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;padding-top:10px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Griffin-American Healthcare REIT IV, Inc., a Maryland corporation, was incorporated on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">January&#160;23, 2015</font><font style="font-family:inherit;font-size:10pt;"> and therefore we consider that our date of inception. We were initially capitalized on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">February&#160;6, 2015</font><font style="font-family:inherit;font-size:10pt;">. We intend to invest in a diversified portfolio of real estate properties, focusing primarily on medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities. We may also originate and acquire secured loans and real estate-related investments on an infrequent and opportunistic basis. We generally will seek investments that produce current income. We intend to elect to be treated as a real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended, or the Code, for federal income tax purposes beginning with our taxable year ending December 31, 2016, or the first year in which we commence material operations.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are conducting a best efforts initial public offering, or our offering, in which we are offering to the public a minimum of </font><font style="font-family:inherit;font-size:10pt;">$2,000,000</font><font style="font-family:inherit;font-size:10pt;"> in shares of our common stock, or the minimum offering, and a maximum of </font><font style="font-family:inherit;font-size:10pt;">$3,000,000,000</font><font style="font-family:inherit;font-size:10pt;"> in shares of our common stock in our primary offering at a purchase price of </font><font style="font-family:inherit;font-size:10pt;">$10.00</font><font style="font-family:inherit;font-size:10pt;"> per share and up to </font><font style="font-family:inherit;font-size:10pt;">$150,000,000</font><font style="font-family:inherit;font-size:10pt;"> in shares of our common stock pursuant to our distribution reinvestment plan, or the DRIP, at a purchase price during our offering of </font><font style="font-family:inherit;font-size:10pt;">95.0%</font><font style="font-family:inherit;font-size:10pt;"> of the primary offering price per share, or </font><font style="font-family:inherit;font-size:10pt;">$9.50</font><font style="font-family:inherit;font-size:10pt;"> per share, assuming a </font><font style="font-family:inherit;font-size:10pt;">$10.00</font><font style="font-family:inherit;font-size:10pt;"> per share primary offering price, aggregating up to </font><font style="font-family:inherit;font-size:10pt;">$3,150,000,000</font><font style="font-family:inherit;font-size:10pt;">, or the maximum offering. We reserve the right to reallocate the shares of our common stock offered between the primary offering and the DRIP, and among classes of stock if we elect to offer additional classes in the future. The conditions of our minimum offering were satisfied on </font><font style="font-family:inherit;font-size:10pt;">April&#160;12, 2016</font><font style="font-family:inherit;font-size:10pt;">, and we admitted our initial public subscribers as stockholders, excluding shares purchased by residents of Ohio, Washington and Pennsylvania (who are subject to higher offering amounts). </font><font style="font-family:inherit;font-size:10pt;">See Note 8, Subsequent Events</font><font style="font-family:inherit;font-size:10pt;"> &#8212; Status of Our Offering, for a further discussion.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We will conduct substantially all of our operations through Griffin-American Healthcare REIT IV Holdings, LP, or our operating partnership. We are externally advised by Griffin-American Healthcare REIT IV Advisor, LLC, or Griffin-American Healthcare REIT IV Advisor, or our advisor, pursuant to an advisory agreement, or the Advisory Agreement, between us and our advisor that has a </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-year term that expires on February&#160;16, 2017 and is subject to successive </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-year renewals upon the mutual consent of the parties. Our advisor uses its best efforts, subject to the oversight and review of our board of directors, to, among other things, research, identify, review and make investments in and dispositions of properties and securities on our behalf consistent with our investment policies and objectives. Our advisor performs its duties and responsibilities under the Advisory Agreement as our fiduciary. </font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">Our a</font><font style="font-family:inherit;font-size:10pt;">dvisor is </font><font style="font-family:inherit;font-size:10pt;">75.0%</font><font style="font-family:inherit;font-size:10pt;"> owned and managed by American Healthcare Investors, LLC, or American Healthcare Investors, and </font><font style="font-family:inherit;font-size:10pt;">25.0%</font><font style="font-family:inherit;font-size:10pt;"> owned by a wholly owned subsidiary of Griffin Capital Corporation, or Griffin Capital, or collectively, our co-sponsors. Effective March&#160;1, 2015, American Healthcare Investors is </font><font style="font-family:inherit;font-size:10pt;">47.1%</font><font style="font-family:inherit;font-size:10pt;"> owned by AHI Group Holdings, LLC, or AHI Group Holdings, </font><font style="font-family:inherit;font-size:10pt;">45.1%</font><font style="font-family:inherit;font-size:10pt;"> indirectly owned by NorthStar Asset Management Group Inc., or NSAM, and </font><font style="font-family:inherit;font-size:10pt;">7.8%</font><font style="font-family:inherit;font-size:10pt;"> owned by James F. Flaherty III, one of NSAM&#8217;s partners. We are not affiliated with Griffin Capital, Griffin Capital Securities, LLC, or Griffin Capital Securities, or our dealer manager, NSAM or Mr. Flaherty; however, we are affiliated with Griffin-American Healthcare REIT IV Advisor, American Healthcare Investors and AHI Group Holdings.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:33px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, we have neither purchased nor contracted to purchase any investments and our advisor has not identified any real estate or real estate-related investments in which it is probable that we will invest.</font></div></div>
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:10px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of our accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of our condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are made and evaluated on an on-going basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates, perhaps in material adverse ways, and those estimates could be different under different assumptions or conditions.</font></div></div>

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