PROCACCIANTI HOTEL REIT INC
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 12, 2024
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Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements (unaudited)
CONDENSED CONSOLIDATED BALANCE SHEETS
| | | | | | | |
|---|---|---|---|---|---|---|
| · September 30, 2024 · December 31, 2023 | ||||||
| ASSETS · · | ||||||
| Property and equipment, net | | $95,733,991 | | $97,949,850 | ||
| Cash | | 8,545,826 | | 7,021,695 | ||
| Restricted cash | | 3,467,970 | | 3,682,690 | ||
| Accounts receivable, net | | 345,121 | | 282,029 | ||
| Due from related parties | | 25,000 | | 25,000 | ||
| Prepaid expenses and other assets, net | | 1,473,064 | | 1,132,116 | ||
| Total Assets | | $109,590,972 | | $110,093,380 | ||
| LIABILITIES AND EQUITY | | | ||||
| Liabilities | | | ||||
| Mortgage notes payable, net | | $64,235,615 | | $64,345,142 | ||
| Accounts payable, accrued expenses and other, net | | 3,463,218 | | 2,816,919 | ||
| Due to related parties | | 2,118,654 | | 2,208,299 | ||
| Total Liabilities | | 69,817,487 | | 69,370,360 | ||
| Commitments and Contingencies | | | ||||
| Noncontrolling interest of the Operating Partnership | | | 1,391,695 | | | 1,402,962 |
| Stockholders’ Equity | | | | | ||
| Class K common stock, $0.01 par value per share; 55,500,000 shares authorized, 3,890,740 and 3,908,712 shares issued and outstanding, respectively | | 38,908 | | 39,087 | ||
| Class K-I common stock, $0.01 par value per share; 55,500,000 shares authorized, 1,390,361 and 1,366,446 shares issued and outstanding, respectively | | 13,904 | | 13,664 | ||
| Class K-T common stock, $0.01 par value per share; 116,000,000 shares authorized, 0 and 2,964 shares issued and outstanding, respectively | | — | | 30 | ||
| Class A common stock, $0.01 par value per share; 21,000,000 shares authorized, 581,410 shares issued and outstanding | | 5,814 | | 5,814 | ||
| Class B common stock, $0.01 par value per share; 125,000 shares authorized, issued and outstanding | | 1,250 | | 1,250 | ||
| Additional paid-in capital | | 47,357,333 | | 47,356,635 | ||
| Cumulative income | | 4,243,543 | | 2,110,753 | ||
| Cumulative distributions | | (17,893,197) | | (15,055,010) | ||
| Total Stockholders’ Equity | | 33,767,555 | | 34,472,223 | ||
| Noncontrolling interest | | 4,614,235 | | 4,847,835 | ||
| Total Equity | | 38,381,790 | | 39,320,058 | ||
| Total Liabilities and Stockholders’ Equity | | $109,590,972 | | $110,093,380 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.