MacKenzie Realty Capital Inc
For the period ended Dec 31, 2023. Filed Feb 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 13, 2024
MKZR$0.96-2.6%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Consolidated Balance Sheets as of December 31, 2023 and June 30, 2023 (Unaudited)
| December 31, 2023 | June 30, 2023 | |
|---|---|---|
| Assets | ||
| Real estate assets | ||
| Land | $40,024,173 | $37,163,127 |
| Building, fixtures and improvements | 135,131,900 | 132,484,670 |
| Intangible lease assets | 8,443,475 | 8,180,089 |
| Less: accumulated depreciation and amortization | (10,290,866) | (7,112,574) |
| Total real estate assets, net | 173,308,682 | 170,715,312 |
| Cash and cash equivalents | 12,173,527 | 17,242,781 |
| Restricted cash | 864,534 | 898,238 |
| Investments, at fair value | 8,747,060 | 13,432,480 |
| Unconsolidated investment (non-security), at fair value | 7,797,303 | 8,716,500 |
| Investments income, rents and other receivables | 1,103,608 | 1,205,858 |
| Investment acquisition advance | - | 100,000 |
| Prepaid expenses and other assets | 829,302 | 846,424 |
| Total assets | $204,824,016 | $213,157,593 |
| Liabilities | ||
| Mortgage notes payable, net | $93,360,837 | $91,247,384 |
| Notes payable | 1,295,394 | 1,653,937 |
| Deferred rent and other liabilities | 1,260,353 | 1,158,809 |
| Finance lease liabilities | 596,951 | 628,420 |
| Dividend payable | 2,118,170 | 2,016,855 |
| Accounts payable and accrued liabilities | 1,092,865 | 1,387,129 |
| Stock redemption payable | 475,990 | 444,999 |
| Below-market lease liabilities, net | 1,160,372 | 1,410,090 |
| Due to related entities | 95,209 | 156,364 |
| Contingent liability | 718,000 | 1,503,000 |
| Capital pending acceptance | 75,000 | 538,600 |
| Total liabilities | 102,249,141 | 102,145,587 |
| Equity | ||
| Common stock, $0.0001 par value, 80,000,000 shares authorized; 13,239,849.36 and 13,243,279.96 shares issued and outstanding as of December 31, 2023 and June 30, 2023, respectively. | 1,324 | 1,324 |
| Preferred stock, $0.0001 par value, 20,000,000 shares authorized: | ||
| Series A Preferred stock, 743,462.31 and 671,340.45 shares issued and outstanding as of December 31, 2023 and June 30, 2023, respectively. | 75 | 67 |
| Series B Preferred stock, 4,444.44 shares issued and outstanding as of December 31, 2023. | - | - |
| Capital in excess of par value | 135,164,330 | 133,762,999 |
| Accumulated deficit | (44,697,434) | (34,856,258) |
| Total stockholders’ equity | 90,468,295 | 98,908,132 |
| Non-controlling interests | 12,106,580 | 12,103,874 |
| Total equity | 102,574,875 | 111,012,006 |
| Total liabilities and equity | $204,824,016 | $213,157,593 |
Consolidated
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