$MDRR
Medalist Diversified REIT, Inc.

2022 Q4 Form 10-Q Financial Statement

#000155837022017165 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2022 Q2
Revenue $2.750M $2.841M $2.596M
YoY Change -1.22% -6.49% -12.84%
Cost Of Revenue $734.8K $1.271M $942.7K
YoY Change -23.15% 487.59% 346.22%
Gross Profit $2.016M $1.570M $1.653M
YoY Change 10.26% -44.36% -40.25%
Gross Profit Margin 73.28% 55.27% 63.69%
Selling, General & Admin $921.1K $383.8K $524.2K
YoY Change 98.52% 0.39% 375.32%
% of Gross Profit 45.7% 24.44% 31.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.198M $1.232M $1.122M
YoY Change 4.37% 31.35% 45.09%
% of Gross Profit 59.42% 78.43% 67.89%
Operating Expenses $2.119M $3.113M $1.647M
YoY Change 31.48% 0.72% -36.11%
Operating Profit -$103.2K -$881.3K $6.570K
YoY Change -147.63% -1327.71% -98.36%
Interest Expense -$865.0K $989.3K -$844.8K
YoY Change -6.5% 4.05% -169.01%
% of Operating Profit -12859.06%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Pretax Income -$999.8K -$1.871M -$1.008M
YoY Change 87.13% 113.66% 22.44%
Income Tax
% Of Pretax Income
Net Earnings -$1.011M -$1.754M -$1.015M
YoY Change 90.05% 101.2% 48.6%
Net Earnings / Revenue -36.74% -61.75% -39.1%
Basic Earnings Per Share -$0.10 -$0.47
Diluted Earnings Per Share -$0.06 -$0.10 -$58.19K
COMMON SHARES
Basic Shares Outstanding 17.44M 17.44M 17.44M
Diluted Shares Outstanding 17.44M 2.180M

Balance Sheet

Concept 2022 Q4 2022 Q3 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.922M $4.864M $2.481M
YoY Change -10.26% -42.95% -77.17%
Cash & Equivalents $3.922M $4.864M $2.481M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $402.4K $241.8K $284.1K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.325M $5.106M $2.765M
YoY Change -10.59% -42.67% -75.44%
LONG-TERM ASSETS
Property, Plant & Equipment $76.51M $77.33M $78.06M
YoY Change 10.24% 23.16% 38.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.741M $2.109M $13.19M
YoY Change -86.46% -83.38% -47.26%
Total Long-Term Assets $83.59M $85.00M $97.18M
YoY Change -4.7% 5.05% 12.59%
TOTAL ASSETS
Total Short-Term Assets $4.325M $5.106M $2.765M
Total Long-Term Assets $83.59M $85.00M $97.18M
Total Assets $87.92M $90.11M $99.94M
YoY Change -5.0% 0.32% 2.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.198M $2.185M $1.954M
YoY Change -8.35% 28.12% 3.05%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.198M $2.185M $1.954M
YoY Change -8.35% 28.12% 3.05%
LONG-TERM LIABILITIES
Long-Term Debt $65.79M $65.95M $73.76M
YoY Change -0.86% 5.0% 7.24%
Other Long-Term Liabilities $2.234M $2.344M $2.460M
YoY Change 18.8% 28.93% 37.34%
Total Long-Term Liabilities $68.02M $68.29M $76.22M
YoY Change -0.32% 5.67% 8.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.198M $2.185M $1.954M
Total Long-Term Liabilities $68.02M $68.29M $76.22M
Total Liabilities $69.22M $70.47M $79.65M
YoY Change -0.47% 6.25% 9.91%
SHAREHOLDERS EQUITY
Retained Earnings -$30.94M -$29.75M
YoY Change 23.85% 26.87%
Common Stock $177.6K $174.4K
YoY Change 10.63% 8.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.25M $18.19M $20.29M
YoY Change
Total Liabilities & Shareholders Equity $87.92M $90.11M $99.94M
YoY Change -5.0% 0.32% 2.43%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2022 Q2
OPERATING ACTIVITIES
Net Income -$1.011M -$1.754M -$1.015M
YoY Change 90.05% 101.2% 48.6%
Depreciation, Depletion And Amortization $1.198M $1.232M $1.122M
YoY Change 4.37% 31.35% 45.09%
Cash From Operating Activities -$478.9K $99.71K $880.9K
YoY Change -351.88% -128.35% 12.33%
INVESTING ACTIVITIES
Capital Expenditures $367.7K -$158.9K -$10.41M
YoY Change -104.68% -94.97% 1.74%
Acquisitions
YoY Change
Other Investing Activities -$31.62K $2.011M
YoY Change -6.21%
Cash From Investing Activities -$399.3K $1.853M -$10.41M
YoY Change -94.91% -282.91% 1.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -432.1K -757.1K 7.224M
YoY Change -112.28% -15.69% -57.22%
NET CHANGE
Cash From Operating Activities -478.9K 99.71K 880.9K
Cash From Investing Activities -399.3K 1.853M -10.41M
Cash From Financing Activities -432.1K -757.1K 7.224M
Net Change In Cash -1.310M 1.195M -2.301M
YoY Change -68.38% -152.82% -130.92%
FREE CASH FLOW
Cash From Operating Activities -$478.9K $99.71K $880.9K
Capital Expenditures $367.7K -$158.9K -$10.41M
Free Cash Flow -$846.5K $258.7K $11.29M
YoY Change -110.53% -90.78% 2.5%

Facts In Submission

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mdrr Stock Issuance Cost
StockIssuanceCost
333080
us-gaap Profit Loss
ProfitLoss
-3824032
us-gaap Dividends
Dividends
711899
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
23493553
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
21765721
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-1744134
CY2022Q3 us-gaap Dividends
Dividends
386870
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
19634717
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
25095603
CY2021Q3 us-gaap Dividends
Dividends
699899
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
23493553
us-gaap Profit Loss
ProfitLoss
-3732456
us-gaap Profit Loss
ProfitLoss
-3824032
us-gaap Depreciation
Depreciation
2471365
us-gaap Depreciation
Depreciation
1665203
mdrr Amortization
Amortization
1037800
mdrr Amortization
Amortization
696011
mdrr Amortization Of Loan Costs
AmortizationOfLoanCosts
80607
mdrr Amortization Of Loan Costs
AmortizationOfLoanCosts
80711
mdrr Amortization Of Deferred Financing Costs On Mandatorily Redeemable Preferred Stock
AmortizationOfDeferredFinancingCostsOnMandatorilyRedeemablePreferredStock
165338
mdrr Amortization Of Deferred Financing Costs On Mandatorily Redeemable Preferred Stock
AmortizationOfDeferredFinancingCostsOnMandatorilyRedeemablePreferredStock
151616
mdrr Amortization Of Financing Costs Convertible Debt
AmortizationOfFinancingCostsConvertibleDebt
1718487
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-146068
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-2350
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12946
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
26014
mdrr Increase Decrease In Note Payable Forgiveness
IncreaseDecreaseInNotePayableForgiveness
-176300
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
233100
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
149981
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
175671
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-36670
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-389207
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-389471
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
124641
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-211376
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-53240
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-112767
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-164977
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
147130
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
91849
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
608351
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
485387
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1673481
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
642501
mdrr Payments To Acquire Investment Property
PaymentsToAcquireInvestmentProperty
10279714
mdrr Payments To Acquire Investment Property
PaymentsToAcquireInvestmentProperty
13152547
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
651653
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
283018
us-gaap Payments For Proceeds From Real Estate Heldforinvestment
PaymentsForProceedsFromRealEstateHeldforinvestment
-2011462
us-gaap Payments For Proceeds From Real Estate Heldforinvestment
PaymentsForProceedsFromRealEstateHeldforinvestment
-2144529
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8919905
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11291036
us-gaap Payments Of Dividends
PaymentsOfDividends
1116660
us-gaap Payments Of Dividends
PaymentsOfDividends
711899
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
84900
mdrr Repayment Of Line Of Credit Short Term
RepaymentOfLineOfCreditShortTerm
-325000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
18477304
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
6421870
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
11692557
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
437662
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1305000
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
1538887
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
10826920
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
286543
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6835531
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17079229
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-410893
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6430694
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7383977
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5096928
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6973084
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11527622
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4863963
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8526063
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2109121
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3001559
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6973084
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11527622
us-gaap Interest Paid Net
InterestPaidNet
2508654
us-gaap Interest Paid Net
InterestPaidNet
2658218
mdrr Release Of Restricted Cash Related To Sale Of Property
ReleaseOfRestrictedCashRelatedToSaleOfProperty
1455777
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
269246
mdrr Conversion Of Convertible Debentures And Accrued Interest To Common Stock
ConversionOfConvertibleDebenturesAndAccruedInterestToCommonStock
5058788
mdrr Transfer Of Investment Properties Net To Assets Held For Sale Net
TransferOfInvestmentPropertiesNetToAssetsHeldForSaleNet
9683555
mdrr Transfer Of Mortgages Payable Net To Mortgages Payable Associated With Assets Held For Sale Net
TransferOfMortgagesPayableNetToMortgagesPayableAssociatedWithAssetsHeldForSaleNet
7592931
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
4481600
us-gaap Transfer To Investments
TransferToInvestments
384882
mdrr Notes Payable Forgiveness
NotesPayableForgiveness
176300
mdrr Number Of Tenants Defaulted On Leases And Abandoned Their Premises
NumberOfTenantsDefaultedOnLeasesAndAbandonedTheirPremises
2
us-gaap Asset Impairment Charges
AssetImpairmentCharges
36670
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
175671
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2021Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
mdrr Number Of Tenants Defaulted On Leases And Abandoned Their Premises
NumberOfTenantsDefaultedOnLeasesAndAbandonedTheirPremises
2
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
36670
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4065995
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4200392
CY2022Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2344281
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1880612
CY2022Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
115679
CY2021Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
73174
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
305456
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
183153
CY2022Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-81817
CY2021Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-5968
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-146068
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-2350
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
324292
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
275935
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1037800
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
696011
CY2022Q3 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
2148833
CY2022Q3 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
944850
CY2021Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
2779370
CY2022Q3 mdrr Amortization Of Intangible Assets Write Off
AmortizationOfIntangibleAssetsWriteOff
166029
mdrr Amortization Of Intangible Assets Write Off
AmortizationOfIntangibleAssetsWriteOff
1663228
CY2022Q3 mdrr Amortization Of Tenant Defaults Written Off
AmortizationOfTenantDefaultsWrittenOff
0
mdrr Amortization Of Tenant Defaults Written Off
AmortizationOfTenantDefaultsWrittenOff
5108
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
317286
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1002617
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
659308
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
486931
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
335567
CY2022Q3 mdrr Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
1264286
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4065995
CY2022Q3 us-gaap Below Market Lease Amortization Income Remainder Of Fiscal Year
BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear
110169
CY2022Q3 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
368802
CY2022Q3 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
285892
CY2022Q3 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
213348
CY2022Q3 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
178776
CY2022Q3 mdrr Below Market Lease Amortization Income After Year Four
BelowMarketLeaseAmortizationIncomeAfterYearFour
1187294
CY2022Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2344281
CY2022Q3 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
3306551
CY2021Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
2377633
CY2022Q3 mdrr Security Deposits
SecurityDeposits
266837
CY2021Q4 mdrr Security Deposits
SecurityDeposits
222265
CY2022Q3 us-gaap Escrow Deposit
EscrowDeposit
897434
CY2021Q4 us-gaap Escrow Deposit
EscrowDeposit
1523837
CY2022Q3 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
944850
CY2021Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
1267470
CY2021Q4 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
1267470
CY2022Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
985089
CY2021Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
872322
mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
0
CY2021Q3 mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
0
mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
0
CY2022Q3 mdrr Revenue Recognized From Reimbursement Of Common Area Maintenance Expenses
RevenueRecognizedFromReimbursementOfCommonAreaMaintenanceExpenses
0
mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
0
CY2021Q3 mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
0
mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
0
CY2022Q3 mdrr Lease Termination Fee Income
LeaseTerminationFeeIncome
0
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
18219
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13010
CY2021Q4 mdrr Capitalized Leasing Commissions Net
CapitalizedLeasingCommissionsNet
356327
CY2022Q3 mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
24195
mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
223958
CY2021Q3 mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
33537
mdrr Capitalized Leasing Commissions
CapitalizedLeasingCommissions
45422
CY2022Q3 mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
26942
mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
71379
CY2021Q3 mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
17012
mdrr Amortization Of Capitalized Leasing Commissions
AmortizationOfCapitalizedLeasingCommissions
47340
mdrr Percentage Of Income Required To Be Distributed To Shareholders
PercentageOfIncomeRequiredToBeDistributedToShareholders
0.90
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company has made estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and revenues and expenses during the reported period. The Company’s actual results could differ from these estimates.</p>
CY2017 mdrr Noncontrolling Operating Partnership Units
NoncontrollingOperatingPartnershipUnits
125000
CY2017 mdrr Number Of Participate Elected For Exchange
NumberOfParticipateElectedForExchange
721
CY2017 mdrr Noncontrolling Operating Partnership Units
NoncontrollingOperatingPartnershipUnits
125000
CY2021 mdrr Minority Interest Ownership Percentage By Noncontrolling Owners Exchanged Number Of Operating Partnership Units Issued
MinorityInterestOwnershipPercentageByNoncontrollingOwnersExchangedNumberOfOperatingPartnershipUnitsIssued
93850
CY2021 mdrr Minority Interest Ownership Percentage By Noncontrolling Owners Exchanged For Operating Partnership Units Issued
MinorityInterestOwnershipPercentageByNoncontrollingOwnersExchangedForOperatingPartnershipUnitsIssued
0.0345
CY2020Q3 mdrr Non Controlling Partnership Operating Units Converted To Common Stock
NonControllingPartnershipOperatingUnitsConvertedToCommonStock
5319
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
85856314
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
75896135
CY2022Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
8529883
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
6488220
CY2022Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
77326431
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
69407915
CY2022Q3 mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
97858
mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
159941
CY2021Q3 mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
87229
mdrr Capitalized Tenant Improvements
CapitalizedTenantImprovements
132379
CY2022Q3 mdrr Capitalized Leasing Commissions Net
CapitalizedLeasingCommissionsNet
508906
CY2021Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
9846208
CY2021Q4 us-gaap Secured Debt
SecuredDebt
7615368
CY2020Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.37
CY2020Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2020Q4 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2021Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2021Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2021Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2021Q4 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q4 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.50
CY2022Q2 mdrr Debt Service Coverage Ratio
DebtServiceCoverageRatio
not less than 1.50 to 1.00
CY2021Q1 mdrr Number Of Conversations
NumberOfConversations
17
CY2021Q2 mdrr Number Of Conversations
NumberOfConversations
17
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
804872
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
83301
CY2022Q3 us-gaap Interest Expense Other
InterestExpenseOther
101082
CY2022Q3 us-gaap Interest Expense
InterestExpense
989255
CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
776666
CY2021Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
71760
CY2021Q3 us-gaap Interest Expense Other
InterestExpenseOther
102344
CY2021Q3 us-gaap Interest Expense
InterestExpense
950770
us-gaap Interest Expense Debt
InterestExpenseDebt
2157242
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
245945
us-gaap Interest Expense Other
InterestExpenseOther
301648
us-gaap Interest Expense
InterestExpense
2704835
us-gaap Interest Expense Debt
InterestExpenseDebt
2294407
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1950814
us-gaap Interest Expense Other
InterestExpenseOther
363977
us-gaap Interest Expense
InterestExpense
4609198
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
169712
CY2022Q3 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
717034
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
219476
CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
637688
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
1968016
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
7533437
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
6181843
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
5295766
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
3795021
CY2022Q3 mdrr Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
10193285
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
34967368
CY2022Q3 mdrr Shares Authorized
SharesAuthorized
1000000000
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2021Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
8000000
CY2021Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.50
CY2021Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10886337
CY2022Q3 mdrr Common Stock Aggregate Value Authorized
CommonStockAggregateValueAuthorized
150000000
CY2022Q3 mdrr Legal Costs And Filing Fees Incurred
LegalCostsAndFilingFeesIncurred
84926
CY2021Q4 mdrr Legal Costs And Filing Fees Incurred
LegalCostsAndFilingFeesIncurred
84926
CY2021Q4 mdrr Threshold Period To Issue Shares
ThresholdPeriodToIssueShares
P36M
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1538887
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1445400
CY2022Q3 mdrr Sales Price Per Share Average
SalesPricePerShareAverage
1.065
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
90600
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.088
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
98574
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
276190
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.050
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
290000
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
278810
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.076
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
300000
CY2022Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
474068
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.0547
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
500000
CY2022Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
325732
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.0745
CY2022Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
350313
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1445400
CY2022Q3 mdrr Sales Price Per Share Average
SalesPricePerShareAverage
1.065
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1538887
CY2021Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
500000
CY2021Q4 mdrr Stock Repurchase Program Maximum Price Per Share
StockRepurchaseProgramMaximumPricePerShare
4.80
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17439947
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16052617
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16972322
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12106377
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
213531
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
213531
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
213531
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
213531
CY2022Q3 mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
17653478
CY2021Q3 mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
16266148
mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
17185853
mdrr Weighted Average Number Of Diluted Shares Outstanding Effect Of Conversion
WeightedAverageNumberOfDilutedSharesOutstandingEffectOfConversion
12319908
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-1754458
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-872015
us-gaap Net Income Loss
NetIncomeLoss
-3758629
us-gaap Net Income Loss
NetIncomeLoss
-3832502
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17439947
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16052617
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16972322
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12106377
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.02
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.06
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.02
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.02
CY2022Q3 us-gaap Dividends Common Stock
DividendsCommonStock
348799
CY2021Q3 us-gaap Dividends Common Stock
DividendsCommonStock
321052
us-gaap Dividends Common Stock
DividendsCommonStock
1014048
us-gaap Dividends Common Stock
DividendsCommonStock
321052
CY2022Q3 us-gaap Dividends
Dividends
386870
CY2021Q3 us-gaap Dividends
Dividends
699899
us-gaap Dividends
Dividends
1116660
us-gaap Dividends
Dividends
711899
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
mdrr-20220930_def.xml Edgar Link unprocessable
0001558370-22-017165-index-headers.html Edgar Link pending
0001558370-22-017165-index.html Edgar Link pending
0001558370-22-017165.txt Edgar Link pending
0001558370-22-017165-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
mdrr-20220930.xsd Edgar Link pending
mdrr-20220930x10q.htm Edgar Link pending
mdrr-20220930x10q006.jpg Edgar Link pending
mdrr-20220930xex31d1.htm Edgar Link pending
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mdrr-20220930_cal.xml Edgar Link unprocessable
mdrr-20220930_lab.xml Edgar Link unprocessable
mdrr-20220930_pre.xml Edgar Link unprocessable
mdrr-20220930x10q_htm.xml Edgar Link completed
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