QUARTERLY FINANCIAL DATA

12 Months Ended

Dec. 31, 2019

QUARTERLY FINANCIAL DATA

QUARTERLY FINANCIAL DATA

NOTE 14 – QUARTERLY FINANCIAL DATA (unaudited)

The following table reflects quarterly consolidated statements of operations for the periods indicated (dollars in thousands, except per share amounts):

	For the Year Ended December 31, 2019
	January 1,		April 1,		July 1,		October 1,
	2019 to		2019 to		2019 to		2019 to
	March 31,		June 30,		September 30,		December 31,
	2019		2019		2019		2019
Revenues
Rental revenues	$	1,293	$	1,281	$	946	$	542
Total revenues		1,293		1,281		946		542
Operating Expenses
Property operating expenses		680		816		1,191		2,641
Real estate taxes		84		90		90		64
General and administrative		1,313		1,373		1,286		1,377
Pension related costs		183		183		183		184
Transaction related costs		25		112		29		1
Depreciation and amortization		940		837		600		600
Total operating expenses		3,225		3,411		3,379		4,867
Gain on sale of real estate		—		—		—		9,521
Equity in net loss from unconsolidated joint venture		(221)		(186)		(218)		(194)
Interest income, net		21		18		14		14
(Loss) income before taxes		(2,132)		(2,298)		(2,637)		5,016
Tax (expense) income		(81)		(110)		(8)		71
Net (loss) income attributable to common stockholders	$	(2,213)	$	(2,408)	$	(2,645)	$	5,087
(Loss) income per share - basic and diluted	$	(0.07)	$	(0.08)	$	(0.08)	$	0.16
Weighted average number of common shares - basic and diluted		31,796		31,918		31,953		31,972

	For the Year Ended December 31, 2018
	January 1,		April 1,		July 1,		October 1,
	2018 to		2018 to		2018 to		2018 to
	March 31,		June 30,		September 30,		December 31,
	2018		2018		2018		2018
Revenues
Rental revenues	$	397	$	673	$	1,298	$	1,347
Total revenues		397		673		1,298		1,347
Operating expenses
Property operating expenses		187		382		598		737
Real estate taxes		78		81		85		77
General and administrative		1,424		1,413		1,280		1,375
Pension related costs		50		50		50		86
Transaction related costs		—		—		170		212
Depreciation and amortization		129		515		1,193		626
Total operating expenses		1,868		2,441		3,376		3,113
Equity in net loss from unconsolidated joint venture		(117)		(139)		(236)		(236)
Interest income, net		53		93		36		30
Loss before tax expense		(1,535)		(1,814)		(2,278)		(1,972)
Tax expense		(23)		(27)		(26)		(214)
Net loss attributable to common stockholders	$	(1,558)	$	(1,841)	$	(2,304)	$	(2,186)
Loss per share - basic and diluted	$	(0.05)	$	(0.06)	$	(0.07)	$	(0.07)
Weighted average number of common shares - basic and diluted		31,531		31,612		31,639		31,647