$GIPR
GENERATION INCOME PROPERTIES, INC.

2021 Q4 Form 10-Q Financial Statement

#000156459021057156 Filed on November 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $941.5K $1.033M $988.2K
YoY Change 18.54% 12.6%
Cost Of Revenue $228.4K $195.5K
YoY Change
Gross Profit $713.1K $838.0K
YoY Change
Gross Profit Margin 75.74% 81.09%
Selling, General & Admin $823.7K $386.0K
YoY Change
% of Gross Profit 115.51% 46.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $343.5K $273.3K
YoY Change 4.59%
% of Gross Profit 48.17% 32.61%
Operating Expenses $1.167M $1.306M $1.306M
YoY Change 2.4% 116.2%
Operating Profit -$454.1K -$272.1K -$317.7K
YoY Change -32.52% -395.69%
Interest Expense -$274.8K -$331.3K
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$728.9K $655.8K
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$849.3K $456.1K -$370.0K
YoY Change -182.15% 30.93%
Net Earnings / Revenue -90.2% 44.13% -37.44%
Basic Earnings Per Share $0.49 -$0.63
Diluted Earnings Per Share -$978.0K $0.49 -$0.63
COMMON SHARES
Basic Shares Outstanding 2.160M 939.6K 582.9K
Diluted Shares Outstanding 939.6K 582.9K

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.59M $14.19M
YoY Change
Cash & Equivalents $10.59M $14.19M $608.8K
Short-Term Investments
Other Short-Term Assets $237.6K $220.7K
YoY Change
Inventory
Prepaid Expenses
Receivables $88.66K $105.1K
Other Receivables $0.00 $0.00
Total Short-Term Assets $10.92M $14.52M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $38.99M $34.83M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $191.3K $179.9K
YoY Change
Total Long-Term Assets $42.50M $37.89M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $10.92M $14.52M
Total Long-Term Assets $42.50M $37.89M
Total Assets $53.42M $52.41M
YoY Change 31.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $201.7K $156.7K
YoY Change
Accrued Expenses $134.8K $278.6K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $369.9K $534.4K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $28.97M $26.77M
YoY Change
Other Long-Term Liabilities $806.3K $794.5K
YoY Change
Total Long-Term Liabilities $29.78M $27.56M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $369.9K $534.4K
Total Long-Term Liabilities $29.78M $27.56M
Total Liabilities $30.15M $28.09M
YoY Change -1.57%
SHAREHOLDERS EQUITY
Retained Earnings -$5.403M
YoY Change 29.35%
Common Stock $19.07M $22.73K
YoY Change 243.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.67M $14.71M $550.1K
YoY Change
Total Liabilities & Shareholders Equity $53.42M $52.41M
YoY Change 31.32%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income -$849.3K $456.1K -$370.0K
YoY Change -182.15% 30.93%
Depreciation, Depletion And Amortization $343.5K $273.3K
YoY Change 4.59%
Cash From Operating Activities -$346.4K $30.51K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$4.933M -$3.380M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $4.533M
YoY Change
Cash From Investing Activities -$4.933M $1.153M
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 1.675M 12.30M
YoY Change
NET CHANGE
Cash From Operating Activities -346.4K 30.51K
Cash From Investing Activities -4.933M 1.153M
Cash From Financing Activities 1.675M 12.30M
Net Change In Cash -3.605M 13.48M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$346.4K $30.51K
Capital Expenditures -$4.933M -$3.380M
Free Cash Flow $4.587M $3.411M
YoY Change

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 1 – Nature of Operations </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Generation Income Properties, Inc. (the “Company”) was formed as a Maryland corporation on September 19, 2015. The Company is an internally managed real estate investment company focused on acquiring and managing income-producing retail, office and industrial properties net leased to high quality tenants in major markets throughout the United States. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company formed Generation Income Properties L.P. (the “Operating Partnership”) in October 2015. Substantially all of the Company’s assets are held by, and operations are conducted through the Operating Partnership. The Company is the general partner of the Operating Partnership and as of September 30, 2021 owned 85.2% of the outstanding common units of the Operating Partnership. The Company formed a Maryland entity GIP REIT OP Limited LLC in 2018 that owns 0.002% of the Operating Partnership. </p>
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2020-06-23
CY2020Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2020-07-02
CY2020Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.35
CY2020Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
105084
CY2020Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2020-01-31
CY2020Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2020-02-28
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.35
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
105101
gipr Number Of Tenants
NumberOfTenants
4
gipr Number Of Tenants
NumberOfTenants
4
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
857000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3443000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3074000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3078000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2943000
CY2021Q3 gipr Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
7125000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
20520000
CY2021Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
3
gipr Agreement Termination Effective Date
AgreementTerminationEffectiveDate
2020-08-31
CY2020Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
3
gipr Payment For Asset Management Services
PaymentForAssetManagementServices
40135

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