$NYC
American Strategic Investment Co.

2020 Q1 Form 10-Q Financial Statement

#000159552720000007 Filed on May 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $17.48M $17.05M
YoY Change 2.5% 11.96%
Cost Of Revenue $10.01M $8.880M
YoY Change 12.73% 6.47%
Gross Profit $7.460M $8.170M
YoY Change -8.69% 18.58%
Gross Profit Margin 42.68% 47.92%
Selling, General & Admin $2.020M $1.930M
YoY Change 4.66% -35.67%
% of Gross Profit 27.08% 23.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.520M $7.410M
YoY Change 1.48% -4.14%
% of Gross Profit 100.8% 90.7%
Operating Expenses $19.55M $18.23M
YoY Change 7.26% -4.43%
Operating Profit -$2.075M -$1.178M
YoY Change 76.15% -69.36%
Interest Expense $4.832M $3.560M
YoY Change 35.73% 27.01%
% of Operating Profit
Other Income/Expense, Net -$4.713M -$3.406M
YoY Change 38.37% 24.35%
Pretax Income -$6.790M -$4.580M
YoY Change 48.25% -30.4%
Income Tax
% Of Pretax Income
Net Earnings -$6.788M -$4.584M
YoY Change 48.08% -30.38%
Net Earnings / Revenue -38.84% -26.88%
Basic Earnings Per Share -$0.15
Diluted Earnings Per Share -$532.5K -$0.15
COMMON SHARES
Basic Shares Outstanding 30.99M shares 30.98M shares
Diluted Shares Outstanding 30.98M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.20M $48.60M
YoY Change 9.47% 80.67%
Cash & Equivalents $53.24M $48.57M
Short-Term Investments
Other Short-Term Assets $6.400M $24.90M
YoY Change -74.3% 33.87%
Inventory
Prepaid Expenses
Receivables $22.30M
Other Receivables $0.00
Total Short-Term Assets $81.90M $73.50M
YoY Change 11.43% 61.54%
LONG-TERM ASSETS
Property, Plant & Equipment $797.7M $732.3M
YoY Change 8.93% 7.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.50M $16.70M
YoY Change 4.79% 14.38%
Total Long-Term Assets $815.3M $748.8M
YoY Change 8.87% 7.56%
TOTAL ASSETS
Total Short-Term Assets $81.90M $73.50M
Total Long-Term Assets $815.3M $748.8M
Total Assets $897.2M $822.3M
YoY Change 9.1% 10.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.500M $9.600M
YoY Change -11.46% -20.66%
Accrued Expenses $54.90M $54.90M
YoY Change 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $63.40M $64.50M
YoY Change -1.71% 433.06%
LONG-TERM LIABILITIES
Long-Term Debt $395.4M $291.9M
YoY Change 35.46% 24.96%
Other Long-Term Liabilities $27.20M $26.90M
YoY Change 1.12% -7.88%
Total Long-Term Liabilities $422.6M $318.8M
YoY Change 32.56% 21.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.40M $64.50M
Total Long-Term Liabilities $422.6M $318.8M
Total Liabilities $486.0M $383.3M
YoY Change 26.79% 39.46%
SHAREHOLDERS EQUITY
Retained Earnings -$271.1M -$247.0M
YoY Change 9.76% 9.83%
Common Stock $310.0K $310.0K
YoY Change 0.0% -0.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $411.2M $439.0M
YoY Change
Total Liabilities & Shareholders Equity $897.2M $822.3M
YoY Change 9.1% 10.87%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$6.788M -$4.584M
YoY Change 48.08% -30.38%
Depreciation, Depletion And Amortization $7.520M $7.410M
YoY Change 1.48% -4.14%
Cash From Operating Activities $4.428M $2.398M
YoY Change 84.65% -206.11%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$710.0K
YoY Change 40.85% 787.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$995.0K -$705.0K
YoY Change 41.13% 827.63%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00 $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 $0.00
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities $4.428M $2.398M
Cash From Investing Activities -$995.0K -$705.0K
Cash From Financing Activities $0.00 $0.00
Net Change In Cash $3.433M $1.693M
YoY Change 102.78% -113.96%
FREE CASH FLOW
Cash From Operating Activities $4.428M $2.398M
Capital Expenditures -$1.000M -$710.0K
Free Cash Flow $5.428M $3.108M
YoY Change 74.65% -242.57%

Facts In Submission

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RestrictedCashAndCashEquivalents
8490000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
7920000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61730000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56494000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
4307000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
3117000 USD
CY2020Q1 nycr Noncashor Part Noncash Accrued Capital Expenditures
NoncashorPartNoncashAccruedCapitalExpenditures
385000 USD
CY2019Q1 nycr Noncashor Part Noncash Accrued Capital Expenditures
NoncashorPartNoncashAccruedCapitalExpenditures
1393000 USD
CY2020Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
8 property
CY2020Q1 us-gaap Net Rentable Area
NetRentableArea
1200000 sqft
CY2020Q1 nycr Aggregate Purchase Priceof Real Estate
AggregatePurchasePriceofRealEstate
790700000 USD
CY2020Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</span></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified to conform to the current year presentation. The Company currently presents straight-line rent receivable and straight-line rent payable on its own line items in the consolidated statement of cash flows and consolidated balance sheets, which was previously included within prepaid expenses and other assets.</span></div>
CY2020Q1 nycr Lessor Operating Lease Weighted Average Remaining Lease Term
LessorOperatingLeaseWeightedAverageRemainingLeaseTerm
P6Y9M18D
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
45655000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
58496000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
54704000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
46662000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
42191000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
198434000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
446142000 USD
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5000 USD
CY2019Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
CY2020Q1 us-gaap Debt Instrument Collateral Amount
DebtInstrumentCollateralAmount
826600000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
55000000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
350000000 USD
CY2020Q1 us-gaap Secured Debt
SecuredDebt
405000000 USD
CY2020Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
0 USD
CY2020Q1 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
3918000 USD
CY2020Q1 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 USD
CY2020Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
3918000 USD
CY2020Q1 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
0 USD
CY2020Q1 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2020Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
3918000 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
0 USD
CY2019Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1327000 USD
CY2019Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 USD
CY2019Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1327000 USD
CY2019Q4 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
0 USD
CY2019Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
1327000 USD
CY2020Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-4100000 USD
CY2020Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-4100000 USD
CY2020Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31000000.0 shares
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.5125
CY2020Q1 nycr Minimum Percentof Shares Held By Shareholders Eligible For Repurchase
MinimumPercentofSharesHeldByShareholdersEligibleForRepurchase
0.25
CY2020Q1 nycr Percent Of Repurchase Price Equalto Estimated Per Share Nav
PercentOfRepurchasePriceEqualtoEstimatedPerShareNAV
1
CY2020Q1 nycr Share Repurchase Program Shares Authorized Percentof Weighted Average Outstanding Stock For Fiscal Semester
ShareRepurchaseProgramSharesAuthorizedPercentofWeightedAverageOutstandingStockForFiscalSemester
0.025
CY2020Q1 nycr Share Repurchase Program Shares Authorized Percentof Weighted Average Outstanding Stock For Fiscal Year
ShareRepurchaseProgramSharesAuthorizedPercentofWeightedAverageOutstandingStockForFiscalYear
0.050
CY2020Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2019Q4 nycr Stock Repurchased Cumulative Shares
StockRepurchasedCumulativeShares
1259734 shares
CY2020Q1 nycr Weighted Average Price Per Share Cumulative Shares Repurchased
WeightedAveragePricePerShareCumulativeSharesRepurchased
22.03
CY2020Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2020Q1 nycr Weighted Average Price Per Share Shares Repurchased During Period
WeightedAveragePricePerShareSharesRepurchasedDuringPeriod
0
CY2020Q1 nycr Stock Repurchased Cumulative Shares
StockRepurchasedCumulativeShares
1259734 shares
CY2020Q1 nycr Weighted Average Price Per Share Cumulative Shares Repurchased
WeightedAveragePricePerShareCumulativeSharesRepurchased
22.03
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P46Y9M18D
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.086
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
55500000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
54900000 USD
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1200000 USD
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1200000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1200000 USD
CY2019Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1200000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-4584000 USD
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30981830 shares
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3560000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4746000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4746000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4746000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4746000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
207246000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
229790000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
174935000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
54855000 USD
CY2018Q4 nycr Period Prior To Expiration Date Needed To Terminate Agreement
PeriodPriorToExpirationDateNeededToTerminateAgreement
P180D
CY2020Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3040000 USD
CY2019Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2587000 USD
CY2020Q1 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
-339000 USD
CY2019Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
-222000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-6788000 USD
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30977955 shares
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.22
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.15
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
172306 shares
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
171608 shares

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