| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
Net income | ||||||
6,196 | 7,771 | 4,860 | 3,050 | 2,306 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Amortization of deferred financing costs | ||||||
722 | 137 | 59 | 47 | 26 | ||
Impairment loss | ||||||
- | - | - | - | 0 | ||
Depreciation expense | ||||||
63 | 32 | 28 | 0 | - | ||
Stock based compensation | ||||||
43 | 37 | 0 | - | - | ||
Impairment loss | ||||||
417 | 67 | 0 | - | - | ||
Loss (gain) on sale of real estate | ||||||
-34 | 74 | 0 | -87 | -5 | ||
Abandonment of office furniture | ||||||
12 | 0 | - | - | - | ||
Changes in operating assets and liabilities: | ||||||
(Increase) decrease in: | ||||||
Escrow deposits | ||||||
-12 | -98 | 111 | - | - | ||
Escrow deposits | ||||||
- | - | - | 0 | - | ||
Interest and fees receivable | ||||||
154 | 994 | 166 | 213 | 207 | ||
Other receivables | ||||||
-13 | -234 | 51 | 72 | 17 | ||
Due from borrowers | ||||||
-385 | 243 | 0 | - | - | ||
Prepaid insurance | ||||||
- | - | 4 | 0 | - | ||
Prepaid expenses | ||||||
9 | 10 | - | - | - | ||
Deposits on property and equipment | ||||||
-59 | -12 | 0 | - | - | ||
(Decrease) increase in: | ||||||
Due to note purchaser | ||||||
0 | -723 | 0 | - | - | ||
Due to member | ||||||
- | - | - | 421 | 135 | ||
Due to member | ||||||
- | - | -656 | - | - | ||
Accrued interest | ||||||
-173 | 136 | 16 | -13 | 24 | ||
Accounts payable and accrued expenses | ||||||
-66 | -74 | - | - | - | ||
Accrued expenses | ||||||
- | - | 194 | 196 | 0 | ||
Deferred revenue | ||||||
147 | -49 | 817 | 25 | 71 | ||
Advances from borrowers | ||||||
530 | -116 | -141 | 167 | 29 | ||
Total adjustments | ||||||
1,919 | -1,555 | -16 | 646 | 69 | ||
NET CASH PROVIDED BY OPERATING ACTIVITIES | ||||||
8,115 | 6,216 | 4,844 | 3,697 | - | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
Purchase of investments and marketable securities | ||||||
16,000 | 0 | - | - | - | ||
Proceeds from sale of real estate owned | ||||||
1,087 | 1,848 | - | - | - | ||
Acquisitions of and improvements to real estate owned, net | ||||||
1,266 | 541 | - | - | - | ||
NET CASH PROVIDED BY OPERATING ACTIVITIES | ||||||
- | - | - | - | 2,376 | ||
Proceeds from sale of real estate owned | ||||||
- | - | 530 | 1,059 | 421 | ||
Acquisitions of and improvements to real estate owned | ||||||
- | - | 531 | 886 | 0 | ||
Security deposit | ||||||
- | - | - | 0 | 0 | ||
Purchase of land and building | ||||||
- | - | 39 | 397 | 0 | ||
Purchase of property and equipment | ||||||
241 | 710 | 92 | 0 | - | ||
Security deposits | ||||||
0 | -5 | - | - | - | ||
Security deposits | ||||||
- | - | -1 | - | - | ||
Principal disbursements for mortgages receivable | ||||||
64,742 | 42,078 | 53,468 | 21,580 | 19,412 | ||
Principal collections on mortgages receivable | ||||||
43,347 | 24,641 | - | - | - | ||
Principal collections on mortgages receivable | ||||||
- | - | 23,948 | 14,861 | 5,812 | ||
Repurchase of notes sold | ||||||
- | - | 2,000 | 0 | - | ||
Proceeds from notes sold | ||||||
- | - | 2,723 | 0 | - | ||
NET CASH USED FOR INVESTING ACTIVITIES | ||||||
-37,817 | -16,835 | -28,929 | -6,941 | - | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
NET CASH USED FOR INVESTING ACTIVITIES | ||||||
- | - | - | - | -13,178 | ||
Proceeds from line of credit | ||||||
42,720 | 77,564 | 44,177 | 7,475 | 6,000 | ||
Repayment of line of credit | ||||||
69,939 | 60,187 | 42,449 | 5,361 | 5,000 | ||
Proceeds from notes sold to shareholder | ||||||
1,017 | 0 | - | - | - | ||
Repayment of notes sold to shareholder | ||||||
2,217 | 0 | - | - | - | ||
Principal payments on mortgage payable | ||||||
0 | 10 | 8 | -310 | - | ||
Dividends Paid | ||||||
9,681 | 6,787 | 3,339 | 0 | - | ||
Cost associated with the issuance of common stock | ||||||
- | - | - | 0 | - | ||
Costs in connection with ATM | ||||||
0 | 160 | - | - | - | ||
Pre-offering costs incurred | ||||||
- | - | 3,258 | 580 | 45 | ||
Financing costs incurred | ||||||
2,872 | 595 | - | - | - | ||
Proceeds from mortgage payable | ||||||
795 | 0 | - | - | - | ||
Prepayment of mortgage payable | ||||||
301 | 0 | - | - | - | ||
Proceeds from IPO | ||||||
- | - | 30,250 | 0 | - | ||
Proceeds from notes payable, net | ||||||
75 | 0 | - | - | 0 | ||
Proceeds from issuance of common stock | ||||||
30,544 | 0 | - | - | - | ||
Proceeds from exercise of warrants | ||||||
82 | 0 | - | - | - | ||
Proceeds from issuance of notes | ||||||
58,163 | 0 | - | - | - | ||
Financing costs incurred | ||||||
- | - | 87 | 76 | 12 | ||
Member contributions | ||||||
- | - | 653 | 5,084 | 7,214 | ||
Member distributions | ||||||
- | - | 2,460 | 3,879 | 1,396 | ||
NET CASH (USED IN)PROVIDED BY FINANCING ACTIVITIES | ||||||
48,384 | 9,823 | 23,477 | 2,972 | - | ||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | ||||||
18,683 | -795 | -607 | - | - | ||
NET CASH PROVIDED BY FINANCING ACTIVITIES | ||||||
- | - | - | - | 6,761 | ||
NET DECREASE IN CASH | ||||||
- | - | - | -272 | -4,040 | ||
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION | ||||||
Taxes paid | ||||||
- | 53 | 0 | - | - | ||
Interest paid | ||||||
2,237 | 1,370 | 587 | 470 | - | ||
SUPPLEMENTAL INFORMATION-NON-CASH | ||||||
Interest paid | ||||||
- | - | - | - | 170 | ||