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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss attributable to common stockholders $ (6,236) $ (5,131)
Adjustments to reconcile net loss attributable to common stockholders to net cash provided by operating activities:    
Depreciation and amortization and amortization of deferred finance costs 1,892 1,439
Other non-cash adjustment - paid-in-kind interest (153)  
Stock-based compensation expense 99 123
Gain on sale of joint venture real estate (3,058)  
Deferred rents receivable (20) (4)
Other non-cash adjustments - pension expense 119 119
Unrealized gain on warrants (66) 369
Equity in net loss (income) from unconsolidated joint ventures 4 (746)
Distributions from unconsolidated joint ventures   168
Decrease (increase) in operating assets:    
Residential condominium units for sale 8,221 3,548
Receivables 1 24
Prepaid expenses and other assets, net 756 (1,008)
Increase in operating liabilities:    
Accounts payable and accrued expenses 2,525 1,474
Net cash provided by operating activities 4,084 375
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to real estate (29) (64)
Net proceeds from sale of unconsolidated joint venture 7,240  
Net cash provided by (used in) investing activities 7,211 (64)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loans and corporate credit facility   2,390
Proceeds from secured line of credit 2,000  
Repayment of loans (10,591) (11,642)
Repayment of note payable (5,863)  
Settlement of stock awards (145) (291)
Net cash used in financing activities (14,599) (9,543)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (3,304) (9,232)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 22,055 24,845
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 18,751 15,613
CASH AND CASH EQUIVALENTS, BEGINNING PERIOD 1,548 4,310
RESTRICTED CASH, BEGINNING OF PERIOD 20,507 20,535
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 22,055 24,845
CASH AND CASH EQUIVALENTS, END OF PERIOD 2,582 1,381
RESTRICTED CASH, END OF PERIOD 16,169 14,232
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 18,751 15,613
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the period for: Interest 5,015 3,050
Cash paid during the period for: Taxes 115 66
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Capitalized amortization of deferred financing costs and warrants 78 583
Capitalized stock-based compensation expense $ 2 $ 18