Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
5 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,036) $ (893,393)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 0 238,232
Stock compensation expense 0 68,000
Deferred rent 0 15,682
Amortization of deferred financing costs 0 10,637
Amortization of above-market lease intangible 0 9,720
Equity in losses from investment in Rich Uncles REIT I 0 4,300
Changes in operating assets and liabilities:    
Other assets 0 (63,513)
Accounts payable and accrued liabilities 0 561,436
Due to affiliates 4,000 1,649
Net cash (used in) provided by operating activities 964 (47,250)
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of real estate investments 0 (15,730,500)
Investment in Rich Uncles REIT I 0 (2,000,000)
Escrow deposits for future real estate purchases 0 (100,000)
Net cash used in investing activities 0 (17,830,500)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from unsecured credit facility 0 11,000,000
Payments on unsecured credit facility 0 (4,036,500)
Proceeds from mortgage note payable 0 7,319,700
Principal payments on mortgage note payable 0 (21,316)
Payments of deferred financing costs 0 (176,063)
Payment of offering costs 0 (187,101)
Proceeds from issuance of common stock 100,000 6,161,482
Distributions paid to common stockholders 0 (4,852)
Restricted cash for financing activities 0 (390,672)
Net cash provided by financing activities 100,000 19,664,678
Net increase in cash and cash equivalents 100,964 1,786,928
Cash and cash equivalents at beginning of period 0 200,815
Cash and cash equivalents at end of period 100,964 1,987,743
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 192,327
Supplemental disclosure of noncash investing and financing activities:    
Transfers to redeemable common stock 0 33,311
Increase in redeemable common stock payable 0 8,315
Increase in lease incentive payable 0 535,500
Reinvested distribution to investment in Rich Uncles REIT I 0 2,885
Distributions paid to common stockholders through common stock issuance pursuant to the dividend reinvestment plan $ 0 $ 7,226