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CONSOLIDATED STATEMENT OF CASH FLOWS
11 Months Ended
Dec. 31, 2016
USD ($)
Cash flows from operating activities  
Net income $ 384,135
Adjustments to reconcile net income to net cash provided by (used in) operating activities  
Depreciation and amortization 952,507
Amortization of loan procurement costs 21,217
Cash from wholly owned subsidiaries consolidated upon change of status 464,586
Realized gain from sale of investment securities (602,428)
Changes in operating assets and liabilities:  
Restricted cash (54,054)
Accounts receivable 15,416
Prepaid expenses and other assets (47,295)
Accounts payable and accrued expenses 174,196
Net cash provided by operating activities 1,308,280
Cash flows from investing activities  
Acquisition of self storage facilities (18,924,998)
Proceeds from sale of investments 5,724,686
Construction (2,470,685)
Improvements and equipment additions (180,801)
Net cash used in investing activities (15,851,798)
Cash flows from financing activities  
Proceeds from note payable, net 19,353,754
Dividends paid (1,928,359)
Net cash provided by financing activities 17,425,395
Net increase in cash and cash equivalents 2,881,877
Cash and cash equivalents, January 18, 2016 29,763
Cash and cash equivalents, December 31, 2016 2,911,640
Supplemental schedule of cash flow information  
Interest paid 435,502
Supplemental schedule of noncash investing and financing activities  
Real estate assets, net 1,875,002
Accounts payable and accrued expenses (900,000)
Common stock and paid in capital $ (975,002)