Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.5.0.2
Consolidated Statements of Operations - USD ($)
3 Months Ended 5 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2015
Sep. 30, 2016
Revenues:        
Rental income $ 286,576 $ 0 $ 0 $ 328,041
Tenant reimbursements 72,968 0 0 72,968
Total revenues 359,544 0 0 401,009
Expenses:        
Fees to affiliates (Note 7) 46,575 0 0 528,262
General and administrative 584,488 36 3,036 590,867
Depreciation and amortization 204,743 0 0 238,232
Interest expense 174,271 0 0 214,921
Property expenses 91,541 0 0 91,541
Acquisition costs 0 0 0 73,028
Total expenses 1,101,618 0 3,036 1,736,851
Less: Expenses reimbursed/fees waived by Sponsor or affiliates (Note 7) (446,130) 0 0 (446,130)
Net expenses 655,488 36 3,036 1,290,721
Other income (loss):        
Interest income 619 0 0 619
Equity in losses from investment in Rich Uncles REIT I (4,300) 0 0 (4,300)
Total other income (loss) (3,681) (36) 0 (3,681)
Net loss $ (299,625) $ (36) $ (3,036) $ (893,393)
Net loss per share, basic and diluted $ (1.39) $ (0.00) $ (2.43) $ (10.44)
Weighted-average number of common shares outstanding, basic and diluted 215,369 10,000 1,250 85,598
Dividends declared per common share $ 0.14 $ 0 $ 0 $ 0.14