CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
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3 Months Ended | 6 Months Ended | ||||||
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Jun. 30, 2013
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Jun. 30, 2012
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Jun. 30, 2013
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Jun. 30, 2012
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Revenues: | ||||||||
Rental income from operating leases | $ 4,068,800 | $ 1,922,467 | $ 7,553,207 | $ 2,863,982 | ||||
Resident fees and services | 4,527,377 | 8,845,095 | ||||||
Other revenues | 12,838 | 12,838 | ||||||
Total revenues | 8,609,015 | 1,922,467 | 16,411,140 | 2,863,982 | ||||
Expenses: | ||||||||
Property operating expenses | 3,330,765 | 6,547,848 | ||||||
General and administrative | 1,567,696 | 575,352 | 2,676,728 | 1,059,400 | ||||
Acquisition fees and expenses | 2,365,781 | 75,772 | 2,944,307 | 1,975,185 | ||||
Asset management fees | 598,034 | 210,125 | 1,586,654 | 280,167 | ||||
Property management fees | 485,786 | 33,137 | 941,375 | 49,515 | ||||
Depreciation and amortization | 2,563,452 | 631,883 | 4,882,369 | 842,079 | ||||
Total expenses, net | 10,911,514 | 1,526,269 | 19,579,281 | 4,206,346 | ||||
Operating income (loss) | (2,302,499) | 396,198 | (3,168,141) | (1,342,364) | ||||
Other income (expense): | ||||||||
Interest and other income | 788 | 5,245 | 1,923 | 5,346 | ||||
Interest expense and loan cost amortization | (1,678,058) | (753,922) | (4,914,594) | (1,428,761) | ||||
Equity in earnings (loss) from unconsolidated entities | 1,181,752 | (773,628) | [1] | 1,460,135 | (773,628) | [1] | ||
Total other income (expense) | (495,518) | (1,522,305) | (3,452,536) | (2,197,043) | ||||
Loss before income taxes | (2,798,017) | (1,126,107) | (6,620,677) | (3,539,407) | ||||
Income tax expense | (31,385) | (18,073) | ||||||
Net loss | $ (2,829,402) | $ (1,126,107) | $ (6,638,750) | $ (3,539,407) | ||||
Net loss per share of common stock (basic and diluted) | $ (0.09) | $ (0.16) | $ (0.25) | $ (0.71) | ||||
Weighted average number of shares of common stock outstanding (basic and diluted) | 30,811,974 | 6,833,099 | 26,758,120 | 4,984,881 | ||||
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- Definition
The aggregate costs related to asset management during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of expense incurred and directly related to generating revenue from leased and rented property or equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue recognized that is not otherwise disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenues recognized from services provided to residents in facilities owned or operated by the health care organization (not including patient service revenue), which may be based on contractual rates set forth in agreements with third-party payers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate costs related to management of owned properties during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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