$MKZR
Mackenzie Realty Capital Inc

2021 Q4 Form 10-Q Financial Statement

#000114036121037694 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $2.570M $2.723M -$287.5K
YoY Change -1087.21% -1046.99% -114.82%
Cost Of Revenue $1.840M $1.390M $660.0K
YoY Change 170.59% 110.61% -18.52%
Gross Profit $730.0K $1.330M $200.0K
YoY Change 114.71% 565.0% -82.46%
Gross Profit Margin 28.4% 48.85%
Selling, General & Admin $460.0K $420.0K $290.0K
YoY Change 39.39% 44.83% -9.38%
% of Gross Profit 63.01% 31.58% 145.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $685.4K $968.9K
YoY Change
% of Gross Profit 93.9% 72.85%
Operating Expenses $4.612M $3.829M $1.152M
YoY Change 261.11% 232.3% 102.13%
Operating Profit -$2.042M -$1.106M -$952.1K
YoY Change 117.88% 16.15% -267.04%
Interest Expense $496.8K $348.7K -$2.160M
YoY Change -107.14% -116.15% -284.62%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income $4.560M $4.920M -$2.450M
YoY Change -163.16% -300.82% -241.62%
Income Tax
% Of Pretax Income
Net Earnings $4.556M $4.924M -$2.447M
YoY Change -163.1% -301.21% -241.46%
Net Earnings / Revenue 177.26% 180.86%
Basic Earnings Per Share $0.34 $0.37 -$0.19
Diluted Earnings Per Share $0.34 $0.37 -$0.19
COMMON SHARES
Basic Shares Outstanding 13.37M 13.33M 12.85M
Diluted Shares Outstanding 13.33M 12.85M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.90M $10.00M $10.90M
YoY Change 21.11% -8.26% 12.37%
Cash & Equivalents $10.87M $9.973M $10.86M
Short-Term Investments
Other Short-Term Assets $900.0K $1.300M
YoY Change
Inventory
Prepaid Expenses
Receivables $1.100M
Other Receivables $0.00
Total Short-Term Assets $13.80M $14.00M $12.00M
YoY Change 36.63% 16.67% 7.14%
LONG-TERM ASSETS
Property, Plant & Equipment $77.60M $57.00M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $63.30M $70.80M $45.30M
YoY Change 26.1% 56.29% -20.25%
Other Assets $14.50M $1.700M $44.30M
YoY Change -66.89% -96.16% -1.56%
Total Long-Term Assets $155.3M $129.5M $89.70M
YoY Change 36.96% 44.37% -12.23%
TOTAL ASSETS
Total Short-Term Assets $13.80M $14.00M $12.00M
Total Long-Term Assets $155.3M $129.5M $89.70M
Total Assets $169.1M $143.5M $101.7M
YoY Change 36.93% 41.1% -10.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.300M $800.0K $0.00
YoY Change 1200.0% -100.0%
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 $10.30M $1.800M $700.0K
YoY Change 1187.5% 157.14% -68.18%
LONG-TERM LIABILITIES
Long-Term Debt $52.20M $38.50M $0.00
YoY Change
Other Long-Term Liabilities $1.600M $2.400M $0.00
YoY Change 1500.0% -100.0%
Total Long-Term Liabilities $53.80M $40.90M $0.00
YoY Change 53700.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.30M $1.800M $700.0K
Total Long-Term Liabilities $53.80M $40.90M $0.00
Total Liabilities $65.20M $42.70M $700.0K
YoY Change 153.59% 6000.06% -81.08%
SHAREHOLDERS EQUITY
Retained Earnings -$20.11M
YoY Change
Common Stock $1.334K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $103.9M $100.5M $100.9M
YoY Change
Total Liabilities & Shareholders Equity $169.1M $143.5M $101.7M
YoY Change 36.93% 41.1% -10.32%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $4.556M $4.924M -$2.447M
YoY Change -163.1% -301.21% -241.46%
Depreciation, Depletion And Amortization $685.4K $968.9K
YoY Change
Cash From Operating Activities $1.200M $1.051M $1.830M
YoY Change -8.4% -42.56% -46.35%
INVESTING ACTIVITIES
Capital Expenditures $21.77M $10.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $20.65M $3.620M
YoY Change 969.95%
Cash From Investing Activities -$1.120M $3.606M
YoY Change -158.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $160.7K
YoY Change -97.24%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.60M -767.9K 75.60K
YoY Change 33900.0% -1115.76% -98.48%
NET CHANGE
Cash From Operating Activities 1.200M 1.051M 1.830M
Cash From Investing Activities -1.120M 3.606M
Cash From Financing Activities 13.60M -767.9K 75.60K
Net Change In Cash 13.68M 3.889M 1.905M
YoY Change 317.07% 104.12% -77.27%
FREE CASH FLOW
Cash From Operating Activities $1.200M $1.051M $1.830M
Capital Expenditures $21.77M $10.00K
Free Cash Flow -$20.57M $1.041M
YoY Change

Facts In Submission

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CY2020Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-85179
CY2020Q3 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
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CY2020Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1829556
CY2020Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2020Q3 mrc Payment Of Selling Commissions And Fees
PaymentOfSellingCommissionsAndFees
6399
CY2020Q3 mrc Payments For Proceeds From Change In Capital Pending Acceptance
PaymentsForProceedsFromChangeInCapitalPendingAcceptance
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CY2020Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
75601
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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1905157
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8957393
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10862550
CY2021Q3 mrc Shares Authorized
SharesAuthorized
100000000
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
80000000
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
130710000
CY2021Q3 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
11600000
CY2021Q3 us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
9870000
CY2016Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
5000000
CY2016Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
15000000
CY2019Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
15000000
CY2021Q3 mrc Number Of Operating Companies Formed With Non Controlling Interest Holders
NumberOfOperatingCompaniesFormedWithNonControllingInterestHolders
2
CY2021Q3 mrc Number Of Residential Apartment Buildings To Acquire And Operate
NumberOfResidentialApartmentBuildingsToAcquireAndOperate
2
CY2021Q3 mrc Portfolio Risk Concentration Percentage
PortfolioRiskConcentrationPercentage
0.20
CY2021Q3 mrc Capital Pending Acceptance
CapitalPendingAcceptance
0
CY2021Q2 mrc Capital Pending Acceptance
CapitalPendingAcceptance
0
CY2021Q3 mrc Amortization Period Of Deferred Offering Costs
AmortizationPeriodOfDeferredOfferingCosts
P12M
CY2021Q3 mrc Percentage Of Excise Tax On Catch Up Distributions Paid In The Subsequent Year
PercentageOfExciseTaxOnCatchUpDistributionsPaidInTheSubsequentYear
0.04
CY2021Q3 mrc Number Of Entities Income Tax Liabilities Flow Through To Partners
NumberOfEntitiesIncomeTaxLiabilitiesFlowThroughToPartners
2
CY2021Q3 mrc Number Of Entities Income Tax Liabilities Flow Through To Partners
NumberOfEntitiesIncomeTaxLiabilitiesFlowThroughToPartners
2
CY2021Q2 mrc Uncertain Tax Positions
UncertainTaxPositions
0
CY2021Q3 mrc Uncertain Tax Positions
UncertainTaxPositions
0
CY2021Q3 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
36833300
CY2021Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2021Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2722582
CY2021Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
2270918
CY2021Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
451664
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
4093473
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
3149778
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
2970929
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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3045674
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
2155746
CY2021Q3 mrc Lessor Operating Lease Payments To Be Received After Year Four
LessorOperatingLeasePaymentsToBeReceivedAfterYearFour
4740890
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
20156490
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5141279
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1453293
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3687986
CY2021Q3 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P3Y1M6D
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5141279
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1086485
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4054794
CY2021 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P3Y1M6D
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
366808
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
CY2020Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
128769486
CY2021Q3 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
63161286
CY2021Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
70509243
CY2021Q3 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
63161286
CY2021Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
70509243
CY2021Q3 mrc Number Of Components Advisory Fee Payable For Services
NumberOfComponentsAdvisoryFeePayableForServices
3
CY2021Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.00
CY2021Q3 mrc Number Of Advisory Agreements
NumberOfAdvisoryAgreements
2
CY2021Q3 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
676552
CY2020Q3 us-gaap Management Fee Expense
ManagementFeeExpense
657886
CY2020Q3 us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
4852
CY2021Q3 us-gaap Incentive Fee Expense
IncentiveFeeExpense
0
CY2021Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
133927634
CY2020Q3 mrc Capital Gain Fee
CapitalGainFee
0
CY2020Q3 mrc Income Fee
IncomeFee
0
CY2020Q2 mrc Due To Related Parties Portfolio Structuring Fee
DueToRelatedPartiesPortfolioStructuringFee
0
CY2021Q3 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
0
CY2020Q3 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
141889
CY2021Q3 mrc Cumulative Deferred Offering Costs Incurred
CumulativeDeferredOfferingCostsIncurred
143156
CY2021Q3 mrc Total Offering Costs Reimbursement
TotalOfferingCostsReimbursement
85822
CY2021Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
152400
CY2020Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
155200
CY2021Q3 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
26601
CY2020Q3 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
30800
CY2021Q3 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
676552
CY2020Q3 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
0
CY2021Q3 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
CY2021Q2 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
CY2021Q3 us-gaap Management Fee Expense
ManagementFeeExpense
0
CY2020Q3 us-gaap Management Fee Expense
ManagementFeeExpense
657886
CY2021Q3 mrc Due To Related Parties Management Fees
DueToRelatedPartiesManagementFees
0
CY2021Q2 mrc Due To Related Parties Management Fees
DueToRelatedPartiesManagementFees
0
CY2021Q3 us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
0
CY2020Q3 us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
4852
CY2021Q3 mrc Due To Related Parties Portfolio Structuring Fee
DueToRelatedPartiesPortfolioStructuringFee
0
CY2021Q2 mrc Due To Related Parties Portfolio Structuring Fee
DueToRelatedPartiesPortfolioStructuringFee
0
CY2021Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
152400
CY2020Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
155200
CY2021Q3 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
CY2021Q2 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
CY2021Q3 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
26601
CY2020Q3 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
30800
CY2021Q3 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
CY2021Q2 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
CY2021Q3 mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
0
CY2020Q3 mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
25388
CY2021Q3 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
85822
CY2021Q2 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
0
CY2021Q3 us-gaap Other Expenses
OtherExpenses
0
CY2020Q3 us-gaap Other Expenses
OtherExpenses
0
CY2021Q3 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
0
CY2021Q2 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
1937
CY2021Q3 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
85822
CY2021Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
1937
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
23357787
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
23568330
CY2021Q3 us-gaap Investment Company Net Assets From Operations Increase Decrease
InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease
4923801
CY2020Q3 us-gaap Investment Company Net Assets From Operations Increase Decrease
InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease
-2447213
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13333927.46
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13333927.46
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12849527.24
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12849527.24
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2021Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
0
CY2020Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
15778.89
CY2020Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
160739
CY2020Q3 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
15172
CY2020Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
0
CY2021Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
0
CY2020Q3 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0
CY2021Q3 mrc Total Dividends Paid
TotalDividendsPaid
798823

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