2017 Q1 Form 10-Q Financial Statement
#000114420417028923 Filed on May 22, 2017
Income Statement
| Concept | 2017 Q1 | 2016 Q1 |
|---|---|---|
| Revenue | $1.289M | $878.3K |
| YoY Change | 46.79% | |
| Cost Of Revenue | $220.0K | $110.0K |
| YoY Change | 100.0% | |
| Gross Profit | $1.010M | $770.0K |
| YoY Change | 31.17% | |
| Gross Profit Margin | 78.34% | 87.67% |
| Selling, General & Admin | $170.0K | $90.00K |
| YoY Change | 88.89% | |
| % of Gross Profit | 16.83% | 11.69% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $5.156K | $0.00 |
| YoY Change | ||
| % of Gross Profit | 0.51% | 0.0% |
| Operating Expenses | $150.0K | $90.00K |
| YoY Change | 66.67% | |
| Operating Profit | $860.0K | $680.0K |
| YoY Change | 26.47% | |
| Interest Expense | ||
| YoY Change | ||
| % of Operating Profit | ||
| Other Income/Expense, Net | -$30.00K | $0.00 |
| YoY Change | ||
| Pretax Income | $900.0K | $680.0K |
| YoY Change | 32.35% | |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | $896.8K | $683.1K |
| YoY Change | 31.29% | |
| Net Earnings / Revenue | 69.56% | 77.77% |
| Basic Earnings Per Share | $0.06 | $0.00 |
| Diluted Earnings Per Share | $0.06 | $0.00 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 11.10M shares | 0.000 shares |
| Diluted Shares Outstanding | 11.10M shares | 0.000 shares |
Balance Sheet
| Concept | 2017 Q1 | 2016 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $1.400M | |
| YoY Change | ||
| Cash & Equivalents | ||
| Short-Term Investments | ||
| Other Short-Term Assets | $0.00 | |
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $700.0K | |
| Other Receivables | $100.0K | |
| Total Short-Term Assets | $2.200M | |
| YoY Change | ||
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $1.700M | |
| YoY Change | ||
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $700.0K | |
| YoY Change | ||
| Total Long-Term Assets | $42.50M | |
| YoY Change | ||
| TOTAL ASSETS | ||
| Total Short-Term Assets | $2.200M | |
| Total Long-Term Assets | $42.50M | |
| Total Assets | $44.70M | |
| YoY Change | ||
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $300.0K | |
| YoY Change | ||
| Accrued Expenses | $300.0K | |
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $4.200M | |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $5.500M | |
| YoY Change | ||
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $200.0K | |
| YoY Change | ||
| Other Long-Term Liabilities | $400.0K | |
| YoY Change | ||
| Total Long-Term Liabilities | $600.0K | |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $5.500M | |
| Total Long-Term Liabilities | $600.0K | |
| Total Liabilities | $6.056M | |
| YoY Change | ||
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $610.7K | |
| YoY Change | ||
| Common Stock | $11.10K | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $38.60M | |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $44.66M | |
| YoY Change |
Cashflow Statement
| Concept | 2017 Q1 | 2016 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $896.8K | $683.1K |
| YoY Change | 31.29% | |
| Depreciation, Depletion And Amortization | $5.156K | $0.00 |
| YoY Change | ||
| Cash From Operating Activities | $339.5K | $700.0K |
| YoY Change | -51.5% | |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$120.0K | -$90.00K |
| YoY Change | 33.33% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$6.090M | -$1.740M |
| YoY Change | 250.0% | |
| Cash From Investing Activities | -$6.216M | -$1.820M |
| YoY Change | 241.52% | |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | $5.670M | 490.0K |
| YoY Change | 1057.18% | |
| NET CHANGE | ||
| Cash From Operating Activities | $339.5K | 700.0K |
| Cash From Investing Activities | -$6.216M | -1.820M |
| Cash From Financing Activities | $5.670M | 490.0K |
| Net Change In Cash | -$206.0K | -630.0K |
| YoY Change | -67.31% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $339.5K | $700.0K |
| Capital Expenditures | -$120.0K | -$90.00K |
| Free Cash Flow | $459.5K | $790.0K |
| YoY Change | -41.84% |
Facts In Submission
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Document Type
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10-Q | |
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2017-03-31 | |
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false | |
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Fees And Commissions Credit And Debit Cards
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Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued
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Partners Capital Account Contributions
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Amortization Of Financing Costs
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Use Of Estimates
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Use of Estimates</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px 0px 0px 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px 0px 0px 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management will base the use of estimates on (a) various assumptions that consider its past experience, (b) the Company’s projections regarding future operations, and (c) general financial market and local and general economic conditions. Actual amounts could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
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Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Concentrations of Credit Risk</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px 0px 0px 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and mortgage loans. The Company maintains its cash with one major financial institution. Accounts at the financial institution are insured by the Federal Deposit Insurance Corporation up to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">250,000</font>.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px 0px 0px 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0px 0px 0px 0.25in; FONT: 10pt Times New Roman, Times, Serif" align="justify">Credit risks associated with the Company’s mortgage loan portfolio and related interest receivable are described in Note 3 entitled “Mortgages Receivable.”</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
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Increase Decrease In Escrow Deposit
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Increase Decrease In Escrow Deposit
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Increase Decrease In Interest And Fees Receivable
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Increase Decrease In Interest And Fees Receivable
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Increase Decrease In Prepaid Insurance
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Increase Decrease In Prepaid Insurance
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Increase Decrease In Accrued Liabilities
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Cash Fdic Insured Amount
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Net Cash Provided By Used In Operating Activities Continuing Operations
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Net Cash Provided By Used In Operating Activities Continuing Operations
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Proceeds From Sale Of Real Estate
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Proceeds From Sale Of Real Estate
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Payments To Acquire Real Estate
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Payments To Acquire Real Estate
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Payments To Acquire Furniture And Fixtures
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Payments To Acquire Furniture And Fixtures
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Payments To Acquire Investments
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Payments To Acquire Investments
PaymentsToAcquireInvestments
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Payments To Acquire Mortgage Receivable
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| CY2016Q1 | sach |
Payments To Acquire Mortgage Receivable
PaymentsToAcquireMortgageReceivable
|
5113384 | USD |
| CY2017Q1 | sach |
Proceeds From Collection Of Mortagage Receivable
ProceedsFromCollectionOfMortagageReceivable
|
3938601 | USD |
| CY2016Q1 | sach |
Proceeds From Collection Of Mortagage Receivable
ProceedsFromCollectionOfMortagageReceivable
|
3376109 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-6215613 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-1823021 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
7595766 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
600000 | USD |
| CY2017Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
11559609 | USD |
| CY2016Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
1600000 | USD |
| CY2017Q1 | us-gaap |
Payments For Mortgage Deposits
PaymentsForMortgageDeposits
|
1657 | USD |
| CY2016Q1 | us-gaap |
Payments For Mortgage Deposits
PaymentsForMortgageDeposits
|
0 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
13000000 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
0 | USD |
| CY2017Q1 | sach |
Preoffering Costs Incurred
PreofferingCostsIncurred
|
1544197 | USD |
| CY2016Q1 | sach |
Preoffering Costs Incurred
PreofferingCostsIncurred
|
73500 | USD |
| CY2017Q1 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
13650 | USD |
| CY2016Q1 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
65050 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
|
653646 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
|
1862800 | USD |
| CY2017Q1 | sach |
Payments Of Partnership Distributions
PaymentsOfPartnershipDistributions
|
2460125 | USD |
| CY2016Q1 | sach |
Payments Of Partnership Distributions
PaymentsOfPartnershipDistributions
|
236445 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
5670174 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
487805 | USD |
| CY2017Q1 | us-gaap |
Cash Period Increase Decrease
CashPeriodIncreaseDecrease
|
-205958 | USD |
| CY2016Q1 | us-gaap |
Cash Period Increase Decrease
CashPeriodIncreaseDecrease
|
-639900 | USD |
| CY2015Q4 | us-gaap |
Cash
Cash
|
1834082 | USD |
| CY2016Q1 | us-gaap |
Cash
Cash
|
1194182 | USD |
| CY2017Q1 | us-gaap |
Interest Paid
InterestPaid
|
101711 | USD |
| CY2016Q1 | us-gaap |
Interest Paid
InterestPaid
|
97540 | USD |
| CY2016Q1 | us-gaap |
Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
|
29270142 | USD |
| CY2017Q1 | sach |
Maturities Of Mortagage Receivable Year One
MaturitiesOfMortagageReceivableYearOne
|
12573810 | USD |
| CY2017Q1 | sach |
Maturities Of Mortagage Receivable Year Two
MaturitiesOfMortagageReceivableYearTwo
|
16282106 | USD |
| CY2017Q1 | sach |
Maturities Of Mortagage Receivable Year Three
MaturitiesOfMortagageReceivableYearThree
|
8454993 | USD |
| CY2017Q1 | sach |
Maturities Of Mortagage Receivable Year Four
MaturitiesOfMortagageReceivableYearFour
|
2761966 | USD |
| CY2017Q1 | us-gaap |
Rental Properties
RentalProperties
|
971579 | USD |
| CY2017Q1 | us-gaap |
Real Estate Heldforsale
RealEstateHeldforsale
|
205712 | USD |
| CY2016Q4 | us-gaap |
Receivable With Imputed Interest Discount
ReceivableWithImputedInterestDiscount
|
74954 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
|
-630728 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
|
58132 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Advance Payments By Borrowers For Taxes And Insurance
IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance
|
307543 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Advance Payments By Borrowers For Taxes And Insurance
IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance
|
-11954 | USD |
| CY2017Q1 | us-gaap |
Other Commitment
OtherCommitment
|
3109446 | USD |
| CY2016Q1 | us-gaap |
Liabilities Assumed1
LiabilitiesAssumed1
|
101904 | USD |
| CY2017Q1 | us-gaap |
Notes Assumed1
NotesAssumed1
|
169338 | USD |
| CY2017Q1 | us-gaap |
Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
|
6283237 | shares |
| CY2017Q1 | sach |
Mortgage Loans On Real Estate Default Interest Rate
MortgageLoansOnRealEstateDefaultInterestRate
|
0.18 | pure |
