$WHLR
Wheeler Real Estate Investment Trust, Inc.

2014 Q1 Form 10-K Financial Statement

#000119312514110342 Filed on March 21, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2012 Q4 2012
Revenue $3.664M $930.0K $2.434M
YoY Change 126.47% 78.85% 26.42%
Cost Of Revenue $920.0K $190.0K $520.0K
YoY Change 206.67% 35.71% 0.0%
Gross Profit $2.740M $740.0K $1.910M
YoY Change 107.58% 100.0% 36.43%
Gross Profit Margin 74.78% 79.57% 78.47%
Selling, General & Admin $830.0K $540.0K $1.310M
YoY Change 38.33% 315.38% 235.9%
% of Gross Profit 30.29% 72.97% 68.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $705.4K $270.0K $822.2K
YoY Change 119.76% 50.0% 10.37%
% of Gross Profit 25.74% 36.49% 43.04%
Operating Expenses $3.541M $810.0K $2.674M
YoY Change 128.81% 145.45% 59.72%
Operating Profit $123.1K -$70.00K -$239.5K
YoY Change 75.06% -275.0% -195.3%
Interest Expense $1.369M -$370.0K $966.1K
YoY Change 149.07% 76.19% 19.87%
% of Operating Profit 1112.51%
Other Income/Expense, Net
YoY Change
Pretax Income -$1.250M -$440.0K -$1.210M
YoY Change 160.42% 158.82% 120.0%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.159M -$400.0K -$1.162M
YoY Change 167.16% 135.29% 109.48%
Net Earnings / Revenue -31.62% -43.01% -47.73%
Basic Earnings Per Share -$0.35
Diluted Earnings Per Share -$1.289M -$975.6K -$0.35
COMMON SHARES
Basic Shares Outstanding 7.216M shares 3.302M shares
Diluted Shares Outstanding 3.302M shares

Balance Sheet

Concept 2014 Q1 2012 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.100M $2.100M $2.100M
YoY Change 90.91% 2000.0% 2000.0%
Cash & Equivalents $2.136M $2.053M $2.100M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.869M $761.1K $600.0K
Other Receivables $200.0K $200.0K
Total Short-Term Assets $4.000M $2.900M $2.900M
YoY Change 110.53% 314.29% 314.29%
LONG-TERM ASSETS
Property, Plant & Equipment $101.3M $43.30M $43.30M
YoY Change 135.03% 228.03% 228.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.200M $3.200M $3.200M
YoY Change 196.77% 220.0% 220.0%
Total Long-Term Assets $121.1M $49.79M $49.80M
YoY Change 144.79% 252.48% 253.19%
TOTAL ASSETS
Total Short-Term Assets $4.000M $2.900M $2.900M
Total Long-Term Assets $121.1M $49.79M $49.80M
Total Assets $125.1M $52.69M $52.70M
YoY Change 143.53% 255.4% 256.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.600M $200.0K $200.0K
YoY Change 225.0% -83.33% -83.33%
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 $2.600M $700.0K $700.0K
YoY Change 225.0% -41.67% -41.67%
LONG-TERM LIABILITIES
Long-Term Debt $96.50M $31.80M $31.80M
YoY Change 203.46% 162.81% 162.81%
Other Long-Term Liabilities $2.600M $3.700M $3.700M
YoY Change -25.71%
Total Long-Term Liabilities $99.10M $35.50M $35.50M
YoY Change 180.74% 193.39% 193.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.600M $700.0K $700.0K
Total Long-Term Liabilities $99.10M $35.50M $35.50M
Total Liabilities $101.7M $36.46M $44.00M
YoY Change 181.38% 157.53% 209.86%
SHAREHOLDERS EQUITY
Retained Earnings -$13.26M -$5.443M
YoY Change 106.52% 110.05%
Common Stock $72.16K $33.02K
YoY Change 118.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.84M $8.687M $8.700M
YoY Change
Total Liabilities & Shareholders Equity $125.1M $52.69M $52.70M
YoY Change 143.53% 255.4% 256.08%

Cashflow Statement

Concept 2014 Q1 2012 Q4 2012
OPERATING ACTIVITIES
Net Income -$1.159M -$400.0K -$1.162M
YoY Change 167.16% 135.29% 109.48%
Depreciation, Depletion And Amortization $705.4K $270.0K $822.2K
YoY Change 119.76% 50.0% 10.37%
Cash From Operating Activities $62.89K -$320.0K -$289.9K
YoY Change -184.27% -288.24% -182.89%
INVESTING ACTIVITIES
Capital Expenditures $41.61K -$8.780M $47.34K
YoY Change -62.44% 41.96%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$41.61K -$8.780M -$8.802M
YoY Change -62.44% 26296.13%
FINANCING ACTIVITIES
Cash Dividend Paid $1.006M $126.1K
YoY Change 63.86%
Common Stock Issuance & Retirement, Net $15.83M $13.37M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $960.0K 11.09M 11.04M
YoY Change -217.89% -4060.71% -2779.91%
NET CHANGE
Cash From Operating Activities $62.89K -320.0K -289.9K
Cash From Investing Activities -$41.61K -8.780M -8.802M
Cash From Financing Activities $960.0K 11.09M 11.04M
Net Change In Cash $981.2K 1.990M 1.949M
YoY Change -198.15% -1909.09% -2138.26%
FREE CASH FLOW
Cash From Operating Activities $62.89K -$320.0K -$289.9K
Capital Expenditures $41.61K -$8.780M $47.34K
Free Cash Flow $21.28K $8.460M -$337.2K
YoY Change -111.48% 4876.47% -206.59%

Facts In Submission

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CY2013 dei Entity Registrant Name
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Wheeler Real Estate Investment Trust, Inc.
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CY2013 dei Amendment Flag
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CY2013 dei Document Fiscal Year Focus
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CY2013 dei Document Type
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10-K
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2013-12-31
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0001527541
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<div> <p style="margin-top:18pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"> <b><i>Use of Estimates</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"> 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 financial statements, and revenues and expenses during the reported period. The Company&#x2019;s actual results could differ from these estimates.</p> </div>
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7158549
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
11862198
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
707089
CY2013 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
51216465
CY2013 us-gaap Payments Of Dividends
PaymentsOfDividends
2886574
CY2013 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
3943936
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2776910
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5297166
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24135615
CY2013 us-gaap Depreciation And Amortization
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3466957
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CashAndCashEquivalentsPeriodIncreaseDecrease
-898109
CY2013 us-gaap Interest Expense
InterestExpense
2497810
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11862198
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NetCashProvidedByUsedInInvestingActivities
-22582154
CY2013 us-gaap Real Estate Improvements
RealEstateImprovements
707090
CY2013 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-364852
CY2013 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
22891045
CY2013 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
49110
CY2013 us-gaap Depreciation
Depreciation
1768142
CY2013 us-gaap Dividends
Dividends
2994661
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2013 us-gaap Operating Expenses
OperatingExpenses
10584908
CY2013 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
141418
CY2013 whlr Payments To Prior Investors
PaymentsToPriorInvestors
4180000
CY2013 whlr Number Of Entities
NumberOfEntities
8 Property
CY2013 whlr Number Of Shopping Centers
NumberOfShoppingCenters
16 Buildings
CY2013 whlr Property Operating Costs
PropertyOperatingCosts
1713957
CY2013 whlr Non Cash Contribution From Noncontrolling Interests
NonCashContributionFromNoncontrollingInterests
945271
CY2013 whlr Maturity Of Highly Liquid Investments
MaturityOfHighlyLiquidInvestments
P90D
CY2013 whlr Occupancy Level Percentage
OccupancyLevelPercentage
0.94 pure
CY2013 whlr Percentage Of Sales Rent Income
PercentageOfSalesRentIncome
15472
CY2013 whlr Number Of Properties Held Having Non Controlling Interest
NumberOfPropertiesHeldHavingNonControllingInterest
3 Property
CY2013 whlr Number Of Properties Held Having Controlling Interest
NumberOfPropertiesHeldHavingControllingInterest
5 Property
CY2013 whlr Percentage Of Interest In Partnership
PercentageOfInterestInPartnership
0.50 pure
CY2013 whlr Offering Expenses
OfferingExpenses
2700000
CY2013 whlr Minimum Percentage Of Distribution Of Taxable Income To Stockholders
MinimumPercentageOfDistributionOfTaxableIncomeToStockholders
0.90 pure
CY2013 whlr Insurance Coverage Amount
InsuranceCoverageAmount
250000
CY2013 whlr Past Due Rent Term
PastDueRentTerm
P5D
CY2013 whlr Term Of Disqualification To Be Taxed As Reit Due To Losses Of Reit Status
TermOfDisqualificationToBeTaxedAsReitDueToLossesOfReitStatus
P5Y
CY2013 whlr Reclassification Of Preferred Stock To Permanent Equity Value
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3943936
CY2013 whlr Preferred Stock Offering Expenses
PreferredStockOfferingExpenses
556064
CY2012 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
-0.97
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3301502 shares
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-289884
CY2012 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.35
CY2012 us-gaap Revenues
Revenues
2433979
CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
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-1161777
CY2012 us-gaap Increase Decrease In Leasing Receivables
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246445
CY2012 us-gaap Profit Loss
ProfitLoss
-1205657
CY2012 us-gaap Increase Decrease In Other Operating Assets
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-88211
CY2012 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2826631
CY2012 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-11561
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
-239544
CY2012 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-3190041
CY2012 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
750421
CY2012 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
470298
CY2012 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
0
CY2012 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-32922
CY2012 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
10432841
CY2012 us-gaap Interest Paid
InterestPaid
941185
CY2012 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
8754718
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-1161777
CY2012 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
1963681
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
13131468
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
47337
CY2012 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
22541179
CY2012 us-gaap Payments Of Dividends
PaymentsOfDividends
126084
CY2012 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
494000
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
182372
CY2012 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
2700000
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1307151
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11041124
CY2012 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-43880
CY2012 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
30815046
CY2012 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
25000
CY2012 us-gaap Depreciation And Amortization
DepreciationAndAmortization
822152
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1949185
CY2012 us-gaap Interest Expense
InterestExpense
966113
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
13370984
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8802055
CY2012 us-gaap Real Estate Improvements
RealEstateImprovements
47337
CY2012 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
128855
CY2012 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
35765
CY2012 us-gaap Depreciation
Depreciation
673232
CY2012 us-gaap Dividends
Dividends
378904
CY2012 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
494000
CY2012 us-gaap Operating Expenses
OperatingExpenses
2673523
CY2012 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
CY2012 whlr Property Operating Costs
PropertyOperatingCosts
519220
CY2012 whlr Non Cash Contribution From Noncontrolling Interests
NonCashContributionFromNoncontrollingInterests
7588970
CY2012 whlr Percentage Of Sales Rent Income
PercentageOfSalesRentIncome
9360
CY2012 whlr Adjustments To Additional Paid In Capital Issuance Of Common Units
AdjustmentsToAdditionalPaidInCapitalIssuanceOfCommonUnits
2771806

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