Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 1,290,231 $ 569,356
Accounts receivable, net 1,453,484 532,607
Deferred rents receivable 610,789 536,248
Due from third parties 1,196,918 556,680
Due from related parties 134,781 187,508
Note receivable, current portion 45,444 40,130
Other current assets 357,019 16,003
Total current assets 5,088,666 2,438,532
Property and equipment, net 25,954,931 5,305,060
Note receivable, long-term portion 578,831 624,167
Other assets 579,587 195,342
Total assets 32,202,015 8,563,101
Current liabilities:    
Accounts payable 2,831,658 472,164
Accrued expenses 1,405,336 1,686,966
Due to related parties 400,996 148,337
Mortgages payable, current portion 118,556 113,115
Notes payable 10,665,899 3,475,000
Deferred revenue 226,950
Total current liabilities 15,422,445 6,122,532
Mortgages payable, long-term portion 5,532,397 2,751,997
Other liabilities 240,013 240,013
Total liabilities 21,194,855 9,114,542
Stockholders' equity:    
Series A convertible preferred stock, $0.001 par value; 50,000,000 and 5,000,000 shares authorized at December 31, 2017 and 2016, respectively; no shares issued or outstanding at December 31, 2017 and 2016
Series A convertible preferred stock subscribed but not issued; 500,000 and 300,000 shares at December 31, 2017 and 2016, respectively 500 300
Common stock, $0.001 par value; 500,000,000 and 100,000,000 shares authorized at December 31, 2017 and 2016, respectively; 176,940,331 and 64,074,683 shares issued at December 31, 2017 and 2016, respectively; 176,850,331 and 64,074,683 shares outstanding at December 31, 2017 and 2016, respectively 176,940 64,075
Common stock subscribed but not issued; 1,000,000 and 400,000 shares at December 31, 2017 and 2016, respectively 370,000 400
Subscriptions receivable (25,000) (25,000)
Common stock warrants 2,176,379 1,172,028
Treasury stock, at cost; 90,000 and zero shares at December 31, 2017 and 2016, respectively (45,000)
Additional paid-in capital 20,149,591 8,457,407
Accumulated deficit (11,971,740) (10,777,657)
Noncontrolling interests 175,490 557,006
Total stockholders' equity 11,007,160 (551,441)
Total liabilities and stockholders' equity $ 32,202,015 $ 8,563,101