Global Medical REIT (GMRE) 10-Q 22 Apr 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Feb. 28, 2014	Apr. 11, 2014
Document and Entity Information:	'	'
Entity Registrant Name	'Global Medical REIT Inc.	'
Document Type	'10-Q	'
Document Period End Date	28-Feb-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0001533615	'
Current Fiscal Year End Date	'--08-31	'
Entity Common Stock, Shares Outstanding	'	8,000,000
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

BALANCE_SHEETS_UNAUDITED

BALANCE SHEETS (UNAUDITED) (USD $)	Feb. 28, 2014	Aug. 31, 2013
Current Assets	'	'
Cash	$3,415	$3,519
Prepaid expense	3,632	'
Total Current Assets	7,047	3,519
Current Liabilities	'	'
Accrued liabilities	20,989	19,044
Due to related parties	23,315	380
Total Current Liabilities	44,304	19,424
Stockholders' Equity	'	'
Common stock Authorized: 200,000,000 shares, par value $0.001, 8,000,000 share issued and outstanding	8,000	8,000
Additional paid-in capital	72,000	72,000
Deficit accumulated during the development stage	-117,257	-95,905
Total Stockholders' Equity	-37,257	-15,905
Total Liabilities and Stockholders' Equity	$7,047	$3,519

Balance_Sheets_Parentheticals

Balance Sheets Parentheticals (USD $)	Feb. 28, 2014	Aug. 31, 2013
Parentheticals	'	'
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	200,000,000	200,000,000
Common Stock, shares issued	8,000,000	8,000,000
Common Stock, shares outstanding	8,000,000	8,000,000

STATEMENTS_OF_OPERATIONS_UNAUD

STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended		6 Months Ended		35 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014
Expenses	'	'	'	'	'
General and administrative	$13,687	$3,572	$21,352	$31,192	$117,257
Total Operating Expenses	13,687	3,572	21,352	31,192	117,257
Net Loss	($13,687)	($3,572)	($21,352)	($31,192)	($117,257)
Net Loss Per Share - Basic and Diluted	$0	$0	$0	$0	'
Weighted Average Shares Outstanding	8,000,000	7,654,696	8,000,000	8,000,000	'

STATEMENTS_OF_CASH_FLOWS_UNAUD

STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	6 Months Ended		35 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Feb. 28, 2014
Operating Activities	'	'	'
Net loss for the period	($21,352)	($31,192)	($117,257)
Changes in operating assets and liabilities:	'	'	'
Prepaid expenses.	-3,632	'	-3,632
Accounts payable - Related party	23,315	'	23,315
Accrued liabilities.	1,565	3,000	20,609
Net Cash Used in Operating Activities	-104	-28,192	-76,965
Financing Activities	'	'	'
Proceeds from issuance of common stock	'	25,000	80,000
Proceeds from related party debt	'	'	380
Net Cash Provided by Financing Activities	'	25,000	80,380
Net Increase in Cash	-104	-3,192	3,415
Cash, Beginning of Period	3,519	12,313	0
Cash, End of Period	3,415	9,121	3,415
Supplemental Disclosures	'	'	'
Interest paid	'	'	0
Income taxes paid	'	'	$0

Organization_Nature_of_Busines

Organization, Nature of Business and Basis of Presentation	6 Months Ended
	Feb. 28, 2014
Organization, Nature of Business and Basis of Presentation:	'
Organization, Nature of Business and Basis of Presentation	'
	Note 1 - Organization, Nature of Business and Basis of Presentation
	Organization and Nature of Business
	Global Medical REIT Inc. (the “Company”) was incorporated in the state of Nevada on March 18, 2011 under the name Scoop Media, Inc. The Company changed its name effective January 6, 2014 in connection with its re-domestication into a Maryland corporation and its plans to develop and manage a portfolio of healthcare real estate assets and properties. Historically, Company had previously been seeking to develop an Internet dating, review and information website. The Company has been in the exploration stage since its formation and has not commenced business operations.
	On September 30, 2013, Xpress Group, Ltd., a Hong Kong company now known as Heng Fai Enterprises, Ltd. (“Heng Fai”) purchased 5,500,000 shares of the Common Stock of our company representing approximately 68.7% of its issued and outstanding common stock from Yukon Industries, Inc. for $55,000.00 payable in cash at closing.
	Basis of Presentation
	The unaudited interim financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements and notes are presented as permitted on Form 10-Q and do not contain information included in the Company’s annual statements and notes. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these financial statements be read in conjunction with the August 31, 2013 audited financial statements and the accompanying notes thereto included in our Form 10-K. While management believes the procedures followed in preparing these condensed financial statements are reasonable, the accuracy of the amounts are in some respects dependent upon the facts that will exist, and procedures that will be accomplished by the Company later in the year.
	These unaudited financial statements reflect all adjustments, including normal recurring adjustments which, in the opinion of management, are necessary to present fairly the operations and cash flows for the periods presented.

Going_Concern

Going Concern	6 Months Ended
	Feb. 28, 2014
Going Concern:	'
Going Concern	'
	Note 2 – Going Concern
	These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As of February 28, 2014, the Company has an accumulated deficit of $117,257. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary debt or equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Feb. 28, 2014
Related Party Transactions	'
Related Party Transactions	'
	Note 3 - Related Party Transactions
	As at February 28, 2014, the Company was indebted to Heng Fai Enterprises, Ltd., its majority shareholder,  in the amount of $23,315, which is non-interest bearing, unsecured, and due on demand.

Subsequent_Events

Subsequent Events	6 Months Ended
	Feb. 28, 2014
Subsequent Events:	'
Subsequent Events	'
	Note 4 – Subsequent Events
	On April 15, 2014, the Company executed a Purchase and Sale Agreement to purchase the Select Medical Long Term Acute Care Hospital in Omaha, Nebraska, for approximately $21,700,000.
	The material terms of the agreement provide for: (i) an initial deposit from us in the amount of $200,000 that was paid on April 17, 2014 and shall be credited to the Purchase Price and is non-refundable except in limited circumstances; (ii) a property inspection period that expires on April 17, 2014 during which time we can terminate the Agreement at any time by delivering written notice to LTAC; (iii) a closing date that shall occur on or before May 15, 2014. We may extend the closing date until May 30, 2014 by depositing an additional $200,000 with the title company that is acting as escrow agent for the transaction. The Agreement also contains additional customary covenants, representations and warranties as well as the following conditions to closing: (i) LTAC’s representations and warranties are true and correct as of the closing date; (ii) all required consents have been obtained; (iii) the Facility shall not have been destroyed; (iv) there shall be no adverse proceedings or litigation with respect to LTAC or the Facility; (v) we receive a title insurance policy related to the assets; (vi) there is no material adverse change in the condition of the assets to be acquired; (vii) we shall have obtained a commitment by April 17, 2014 for financing necessary to complete the transaction; and (viii) LTAC shall deliver to us the ground lessor’s waiver of its right of first refusal to purchase the ground lease.

Organization_and_going_concern

Organization and going concern (Details) (USD $)	Feb. 28, 2014	Sep. 30, 2013
Organization and going concern	'	'
Accumulated deficit	$117,637	'
Shares of the Common Stock of our company purchased by Xpress Group, Ltd	'	5,500,000
Percentage of common stock represented approximately	'	68.70%
Value payable in cash at closing	'	$55,000

RELATED_PARTY_DEBT_Details

RELATED PARTY DEBT (Details) (USD $)	Feb. 28, 2014
RELATED PARTY Debt	'
Indebted to a related company non-interest bearing, unsecured, and due on demand.	$23,315

Subsequent_Event_Transactions_

Subsequent Event Transactions (Details) (USD $)	Apr. 15, 2014
Subsequent Event Transactions	'
Company executed a Purchase and Sale Agreement to purchase the medical facility	$21,700,000