$SQFT
Presidio Property Trust, Inc.

2015 Q4 Form 10-Q Financial Statement

#000156459015010703 Filed on November 13, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $6.112M $4.251M
YoY Change 43.75%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.884M
YoY Change
% of Gross Profit
Operating Expenses $4.968M $4.172M
YoY Change 19.09%
Operating Profit $4.209M -$15.68K
YoY Change -26949.19%
Interest Expense $2.631M
YoY Change
% of Operating Profit 62.5%
Other Income/Expense, Net -$2.608M -$1.189M
YoY Change 119.31%
Pretax Income
YoY Change
Income Tax $14.34K
% Of Pretax Income
Net Earnings -$1.547M -$1.852M
YoY Change -16.47%
Net Earnings / Revenue -25.3% -43.55%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 17.08M 17.01M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $6.626M $11.15M $11.89M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $2.423M $2.423M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $254.3M $238.0M
YoY Change 15.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $189.1M $168.9M
YoY Change 26.84%
SHAREHOLDERS EQUITY
Retained Earnings -$93.82M -$88.82M
YoY Change 12.83%
Common Stock $146.7M $145.6M
YoY Change 2.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $53.06M $56.97M
YoY Change
Total Liabilities & Shareholders Equity $254.3M $238.0M
YoY Change 15.25%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$1.547M -$1.852M
YoY Change -16.47%
Depreciation, Depletion And Amortization $1.884M
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates.<font style="font-weight:normal;font-style:normal;"> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include the allocation of purchase price paid for property acquisitions between land, building and intangible assets acquired including their useful lives; valuation of long-lived assets, and the allowance for doubtful accounts, which is based on an evaluation of the tenants&#8217; ability to pay. Actual results may differ from those estimates.</font></p></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications.<font style="font-weight:normal;font-style:normal;"> Certain reclassifications have been made to the previously presented consolidated financial statements and condensed consolidated financial statements to conform to the current period presentation. These reclassifications had no effect on previously reported results of consolidated operations or equity.</font></p></div>
netr Number Of Limited Partnerships In Which Company Is Sole General Partner
NumberOfLimitedPartnershipsInWhichCompanyIsSoleGeneralPartner
3
netr Number Of Partnerships That Purchase And Leaseback Model Homes From Developers In Which Company Is Limited Partner
NumberOfPartnershipsThatPurchaseAndLeasebackModelHomesFromDevelopersInWhichCompanyIsLimitedPartner
3
us-gaap Key Provisions Of Operating Or Partnership Agreement Description
KeyProvisionsOfOperatingOrPartnershipAgreementDescription
The following partnership activity occurred during the periods covered by these consolidated financial statements: The Company is the sole General Partner in three limited partnerships (NetREIT Palm Self-Storage LP, NetREIT Casa Grande LP and NetREIT Garden Gateway LP), all with ownership in real estate income producing properties. The Company refers to these entities collectively, as the “NetREIT Partnerships”. The Company is a limited partner in three partnerships that purchase and leaseback Model Homes from developers (“Dubose Model Home Investors #201, LP”, “Dubose Model Homes Investors #202, LP”, and “NetREIT Dubose Model Home REIT, LP”). The Company refers to these entities collectively, as the “Model Home Partnerships”. The Company had previously been a limited partner in a number of Model Home partnerships, the last of which (Dubose Acquisition Partners II, Dubose Model Home Income Fund #3, LTD., Dubose Model Home Income Fund #4, LTD., and Dubose Model Home Investors Fund #113, LP) sold all of their Model Home assets and were dissolved before the end of 2014. These entities were referred to as the “Income Funds”. The Company has determined that the entities described above, where it owns less than 100%, should be included in the Company’s consolidated financial statements as the Company directs their activities and believes that it controls these limited partnerships through NetREIT, the Parent Company.
CY2015Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5320868
CY2015Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6457036
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4593291
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5200523
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
509000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
853000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
1607000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
1218000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
848000
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
1422000
CY2015Q3 netr Mortgage Notes Payable And Mortgages Held For Sale
MortgageNotesPayableAndMortgagesHeldForSale
128208218
CY2014Q4 netr Mortgage Notes Payable And Mortgages Held For Sale
MortgageNotesPayableAndMortgagesHeldForSale
123899298
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
445309
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8214643
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3291639
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
4726519
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
103796846
CY2015Q3 us-gaap Long Term Debt
LongTermDebt
128208218
netr Cash Dividends Paid Net Of Reinvested Stock Dividends
CashDividendsPaidNetOfReinvestedStockDividends
3292000
netr Cash Dividends Paid Net Of Reinvested Stock Dividends
CashDividendsPaidNetOfReinvestedStockDividends
3830000
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.471
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.543
CY2012Q1 netr Registered Shares Of Common Stock Pursuant To Dividend Reinvestment Plan
RegisteredSharesOfCommonStockPursuantToDividendReinvestmentPlan
1500000
CY2012Q1 netr Percentage Of Purchase Price Per Share
PercentageOfPurchasePricePerShare
0.95
CY2012Q1 netr Sales Price Per Share Of Stock
SalesPricePerShareOfStock
9.50
CY2012Q1 netr Payment Of Sales Commission Or Dealer Manager Fee
PaymentOfSalesCommissionOrDealerManagerFee
0
netr Notice Period For Amendments To Dividend Reinvestment Plan
NoticePeriodForAmendmentsToDividendReinvestmentPlan
P30D
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
13200000
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
1398000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-15677
us-gaap Operating Income Loss
OperatingIncomeLoss
4599023
netr Acquisition Of Retail Properties
AcquisitionOfRetailProperties
2850000
CY2014 netr Business Acquisitions Pro Forma Revenue Operating Expenses
BusinessAcquisitionsProFormaRevenueOperatingExpenses
1918842
netr Business Acquisitions Pro Forma Net Operating Income Loss
BusinessAcquisitionsProFormaNetOperatingIncomeLoss
2059824
CY2014 netr Business Acquisitions Pro Forma Net Operating Income Loss
BusinessAcquisitionsProFormaNetOperatingIncomeLoss
2315668
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-111399
CY2014 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-579296
netr Real Estate Acquisitions
RealEstateAcquisitions
44883251
netr Real Estate Acquisitions
RealEstateAcquisitions
19487900
netr Number Of Hotel Properties
NumberOfHotelProperties
5
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
3372546

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