$BRST
Broad Street Realty, Inc.

2019 Q1 Form 10-Q Financial Statement

#000143774919009781 Filed on May 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1 2017 Q4
Revenue $1.580M $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $119.3K $210.0K $330.0K
YoY Change -43.2% -2200.0% 57.14%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.000K $808.00 $0.00
YoY Change 395.05%
% of Gross Profit
Operating Expenses $2.011M $210.0K $330.0K
YoY Change 857.62% -2200.0% 57.14%
Operating Profit -$431.0K -$208.8K
YoY Change 106.42% -2972.09%
Interest Expense $69.00K $384.00 $0.00
YoY Change 17868.75% -96.87% -100.0%
% of Operating Profit
Other Income/Expense, Net -$294.0K
YoY Change
Pretax Income -$119.8K -$210.0K -$330.0K
YoY Change -42.97% 2000.0% 50.0%
Income Tax
% Of Pretax Income
Net Earnings -$119.8K -$209.2K -$330.0K
YoY Change -42.75% 4077.02% 50.0%
Net Earnings / Revenue -7.58%
Basic Earnings Per Share
Diluted Earnings Per Share -$45.88K -$80.46K -$131.5K
COMMON SHARES
Basic Shares Outstanding 2.611M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q1 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.47K $480.0K $710.0K
YoY Change -84.07% -28.36%
Cash & Equivalents $173.0K $479.3K $708.4K
Short-Term Investments
Other Short-Term Assets $23.51K $30.00K $40.00K
YoY Change -21.63% 50.0% -71.43%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $99.99K $509.9K $746.6K
YoY Change -80.39% -26.1% 425.19%
LONG-TERM ASSETS
Property, Plant & Equipment $17.77K $21.00K $21.81K
YoY Change -15.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $17.77K $21.00K $21.81K
YoY Change -15.39%
TOTAL ASSETS
Total Short-Term Assets $99.99K $509.9K $746.6K
Total Long-Term Assets $17.77K $21.00K $21.81K
Total Assets $117.8K $530.9K $768.4K
YoY Change -77.82% -23.05% 440.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $150.5K $50.00K $70.00K
YoY Change 201.02% -28.57% 12.83%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $20.68K $20.00K $30.00K
YoY Change 3.4% -94.12% -93.62%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $198.6K $98.62K $126.9K
YoY Change 101.33% -87.36% -85.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $198.6K $98.62K $126.9K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $198.6K $98.62K $126.9K
YoY Change 101.33% -87.36% -85.85%
SHAREHOLDERS EQUITY
Retained Earnings -$112.0M -$111.5M -$111.2M
YoY Change 0.46% 0.65%
Common Stock $26.11K $26.11K $26.11K
YoY Change 0.0% 147.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$80.79K $432.3K $641.5K
YoY Change
Total Liabilities & Shareholders Equity $117.8K $530.9K $768.4K
YoY Change -77.82% -23.05% 440.53%

Cashflow Statement

Concept 2019 Q1 2018 Q1 2017 Q4
OPERATING ACTIVITIES
Net Income -$119.8K -$209.2K -$330.0K
YoY Change -42.75% 4077.02% 50.0%
Depreciation, Depletion And Amortization $4.000K $808.00 $0.00
YoY Change 395.05%
Cash From Operating Activities -$772.0K -$216.6K -$320.0K
YoY Change 256.37% -842.88% 28.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$140.0K
YoY Change -100.0%
Cash From Investing Activities -$344.0K -$130.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.151M -12.50K 10.00K
YoY Change -9308.0% -102.34% -94.44%
NET CHANGE
Cash From Operating Activities -772.0K -216.6K -320.0K
Cash From Investing Activities -344.0K -130.0K
Cash From Financing Activities 1.151M -12.50K 10.00K
Net Change In Cash 35.00K -229.1K -440.0K
YoY Change -115.28% -134.07% 528.57%
FREE CASH FLOW
Cash From Operating Activities -$772.0K -$216.6K -$320.0K
Capital Expenditures $0.00
Free Cash Flow -$320.0K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2019Q1 us-gaap Nature Of Operations
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; font-weight: bold;">Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div> Nature of Operations</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:left;text-indent:39.6pt;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 36pt; text-align: justify;">MedAmerica Properties Inc. (the &#x201c;Company&#x201d; or &#x201c;MedAmerica&#x201d;) was originally organized under the laws of the Commonwealth of Massachusetts in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1985,</div> under the name VMS Hotel Investment Trust, for the purpose of investing in mortgage loans. The Company was subsequently reorganized as a Delaware corporation in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1987</div> and changed its name to B.H.I.T. Inc. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2010,</div> the Company changed its name from B.H.I.T. Inc. to Banyan Rail Services Inc. From <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2009</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2012,</div> the Company experienced severe losses from an operating subsidiary in the rail services sector. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> after exploring various industries and researching numerous companies, the board of directors elected to pursue investing in commercial real estate. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> the Company began negotiating a transaction with a sponsor of real estate properties located in the United States. The Company entered into a letter of intent with the sponsor in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 2018, </div>which was amended in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 2018 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April 2019. </div>As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 9, 2019, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> definitive agreement has been executed. It is currently estimated that the transaction would be expected to be consummated late in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019,</div> but there can be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> assurance that there will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be delays or that the Transaction will be successfully completed.&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 36pt;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April 2017, </div>our board of directors and the holders of a majority of our outstanding shares of common stock approved by written consent amendments to the Company&#x2019;s certificate of incorporation to (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) change the name of the Company from &#x201c;Banyan Rail Services Inc.&#x201d; to &#x201c;MedAmerica Properties Inc.,&#x201d; and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) effect a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div> reverse stock split of the issued and outstanding shares of common stock of the Company. On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 15, 2017, </div>the Company filed these amendments with the Secretary of State of the State of Delaware and the name change and reverse stock split became effective with the Financial Industry Regulatory Authority, Inc. (&#x201c;FINRA&#x201d;) on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 20, 2017. </div>As appropriate, all common stock share quantities have been updated to reflect the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div> reverse stock split.</div></div>
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CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y222D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
70000
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
-80794
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
60000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
10000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P5Y
CY2016Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y273D
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
60000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
10000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
60000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
70000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
70000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.71
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.71
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
38970
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
641510
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
432325
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; text-decoration: underline;">Use of Estimates</div></div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 36pt;">The preparation of financial statements, in conformity with accounting principles generally accepted in the United States ("U.S. GAAP"), requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenues and expenses and disclosures of contingent assets and liabilities at the date and period ending of the financial statements. Actual results could differ from those estimates.</div></div></div></div></div></div></div></div></div>
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2610568
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2610568

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