Sachem Capital Corp
For the period ended Dec 31, 2023. Filed Apr 1, 2024.
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FY2023 · Filed Apr 1, 2024
SACH$0.82+0.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| | | | | | | |
|---|---|---|---|---|---|---|
| | Years Ended | |||||
| · · December 31, | ||||||
| | | | 2023 | | | 2022 |
| Assets · · | ||||||
| Cash and cash equivalents | | $12,598,256 | | $23,713,097 | ||
| Investment securities, net (at fair value) | | 37,776,032 | | 24,576,462 | ||
| Mortgages receivable | | | 499,235,371 | | | 460,738,268 |
| Less: Allowance for credit losses | | | (7,523,160) | | | (105,000) |
| Mortgages receivable, net of allowance for credit losses | | | 491,712,211 | | | 460,633,268 |
| Investments in rental real estate, net | | 10,554,461 | | — | ||
| Interest and fees receivable, net | | | 8,474,820 | | | 6,309,845 |
| Due from borrowers, net | | 5,596,883 | | 5,276,967 | ||
| Real estate owned | | 3,461,519 | | 5,216,149 | ||
| Investments in partnerships | | 43,035,895 | | 30,831,180 | ||
| Property and equipment, net | | 3,373,485 | | 4,121,721 | ||
| Other assets | | 8,955,250 | | 4,983,173 | ||
| Total assets | | $625,538,812 | | $565,661,862 | ||
| Liabilities and Shareholders' Equity | | | | | ||
| Liabilities: | | | | | | |
| Notes payable (net of deferred financing costs of $6,048,490 and $8,352,597) | | $282,353,260 | | $280,049,153 | ||
| Repurchase facility | | | 26,461,098 | | | 42,533,466 |
| Mortgage payable | | 1,081,303 | | 750,000 | ||
| Lines of credit | | | 61,792,330 | | | 3,587,894 |
| Accrued dividends payable | | | 5,144,203 | | | 5,342,160 |
| Accounts payable and accrued liabilities | | | 2,321,535 | | | 1,439,219 |
| Advances from borrowers | | 10,998,351 | | 9,892,164 | ||
| Below market lease intangible | | 664,737 | | — | ||
| Deferred revenue | | | 4,647,302 | | | 4,360,452 |
| Total liabilities | | | 395,464,119 | | | 347,954,508 |
| Commitments and Contingencies | | | | | ||
| Shareholders' equity: | | | | | | |
| Preferred shares - $.001 par value; 5,000,000 shares authorized; 2,903,000 shares designated as Series A Preferred Stock; 2,029,923 and 1,903,000 shares of Series A Preferred Stock issued and outstanding at December 31, 2023 and December 31, 2022, respectively | | $2,030 | | $1,903 | ||
| Common stock - $.001 par value; 200,000,000 shares authorized; 46,765,483 and 41,093,536 issued and outstanding at December 31, 2023 and December 31, 2022 | | 46,765 | | 41,094 | ||
| Paid-in capital | | | 249,825,780 | | | 226,220,990 |
| Accumulated other comprehensive income (loss) | | 315,614 | | (561,490) | ||
| Accumulated deficit | | (20,115,496) | | (7,995,143) | ||
| Total shareholders’ equity | | 230,074,693 | | 217,707,354 | ||
| Total liabilities and shareholders’ equity | | $625,538,812 | | $565,661,862 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.