Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 2,815,825 $ 569,356
Accounts receivable, net 980,790 532,607
Deferred rents receivable 603,685 536,248
Due from third parties 1,063,580 556,680
Due from related parties 204,616 187,508
Note receivable, current portion 48,359 40,130
Other current assets 72,281 16,003
Total current assets 5,789,136 2,438,532
Rental properties and equipment, net 8,660,935 5,305,060
Note receivable, long-term portion 596,496 624,167
Other assets 304,862 195,342
Total assets 15,351,429 8,563,101
Current liabilities:    
Accounts payable and accrued expenses 2,792,583 2,159,129
Due to related parties 140,617 148,338
Mortgage payable, current portion 882,385 887,114
Notes payable 3,875,000 3,475,000
Deferred revenue 226,950 226,950
Other current liabilities 225,000 225,000
Total current liabilities 8,142,535 7,121,531
Mortgage payable, long-term portion 1,925,437 1,977,998
Other liabilities 15,013 15,013
Total liabilities 10,082,985 9,114,542
Stockholders equity (deficit):    
Series A preferred stock, $0.001 par value; 50,000,000 and 5,000,000 shares authorized at June 30, 2017 and December 31, 2016, respectively; no shares issued and outstanding at June 30, 2017 and December 31, 2016
Series A preferred stock subscribed but not yet issued; 500,000 and 300,000 shares at June 30, 2017 and December 31, 2016, respectively 500 300
Common stock, $0.001 par value; 500,000,000 and 100,000,000 shares authorized at June 30, 2017 and December 31, 2016, respectively; 161,752,114 and 64,074,683 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 161,752 64,075
Common stock subscribed but not yet issued; 400,000 shares at June 30, 2017 and December 31, 2016 400 400
Subscriptions receivable (25,000) (25,000)
Common stock warrants 1,172,028 1,172,028
Additional paid-in capital 13,565,224 8,457,407
Accumulated deficit (10,262,897) (10,777,657)
Non-controlling interest 656,437 557,006
Total stockholders equity (deficit) 5,268,444 (551,441)
Total liabilities and stockholders equity (deficit) $ 15,351,429 $ 8,563,101