Financial reports / Lightstone Value Plus REIT IV, Inc. | Tables in SEC filings

LTSV Lightstone Value Plus REIT IV, Inc.

Quarterly report


	For the Nine Months Ended September 30,
	2024		2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(8,165,714)	$	(11,035,817)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss from investment in unconsolidated affiliated real estate entity		292,657		481,690
Depreciation and amortization		2,758,878		1,998,478
Amortization of deferred financing costs		740,508		1,011,879
Settlement of unpaid interest previously accrued as mortgage payable		(4,453,610)		-
Changes in assets and liabilities:
Increase in accounts receivable and other assets		(159,672)		(1,626,287)
Increase in accounts payable, accrued expenses and other liabilities		1,157,395		5,109,800
Increase in accrued interest on subordinated advances - related party		139,960		139,831
Net cash used in operating activities		(7,689,598)		(3,920,426)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of investment property		(2,961,914)		(11,209,218)
Distributions from unconsolidated affiliated real estate entities		-		1,733,316
Investment in unconsolidated affiliated real estate entity		(183,333)		(374,999)
Net cash used in investing activities		(3,145,247)		(9,850,901)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from mortgage financing		95,095,056		13,049,981
Payments on mortgage payable		(77,000,000)		-
Payment of loan fees and expenses		(2,979,033)		-
Contributions of noncontrolling interests		122,625		846,682
Redemption and cancellation of common stock		(617,019)		(873,237)
Net cash provided by financing activities		14,621,629		13,023,426

Change in cash, cash equivalents and restricted cash		3,786,784		(747,901)
Cash, cash equivalents and restricted cash, beginning of year		7,731,819		9,504,594
Cash, cash equivalents and restricted cash, end of period	$	11,518,603	$	8,756,693

Supplemental disclosure of cash flow information:
Cash paid for income tax	$	24,686	$	5,662
Cash paid for interest	$	14,432,907	$	4,792,995
Accrued exit fee	$	475,000	$	-
Capital expenditures for investment property in accounts payable, accrued expenses and other liabilities	$	-	$	327,629
Unpaid interest accrued and capitalized as mortgage payable and investment property	$	-	$	3,732,648
Amortization of deferred financing costs included in investment property	$	-	$	326,103

The following is a summary of the Company’s cash, cash equivalents and restricted cash total as presented in our statements of cash flows for the periods presented:
Cash and cash equivalents	$	8,081,609	$	7,223,124
Restricted cash		3,436,994		1,533,569
Total cash, cash equivalents and restricted cash	$	11,518,603	$	8,756,693


	September 30, 2024		December 31, 2023
	(unaudited)
Assets

Investment property:
Land and improvements	$	35,845,388	$	35,845,388
Building and improvements		83,478,210		82,935,141
Furniture and fixtures		10,348,042		10,457,932
Construction in progress		72,399		270,007
Gross investment property		129,744,039		129,508,468
Less accumulated depreciation		(5,664,264)		(2,905,386)
Net investment property		124,079,775		126,603,082

Investment in unconsolidated affiliated real estate entity		9,627,418		9,736,742
Cash and cash equivalents		8,081,609		6,726,475
Restricted cash		3,436,994		1,005,344
Accounts receivable and other assets		1,559,544		1,399,872
Total Assets	$	146,785,340	$	145,471,515

Liabilities and Stockholders’ Equity

Mortgages payable, net	$	92,137,811	$	83,666,224
Accounts payable, accrued expenses and other liabilities		7,695,464		6,333,078
Subordinated advances - related party		14,152,513		14,012,553
Total Liabilities		113,985,788		104,011,855

Commitments and Contingencies

Stockholders’ Equity:
Company’s Stockholders’ Equity:
Preferred stock, $0.01 par value; 50.0 million shares authorized, none issued and outstanding		-		-
Common stock, $0.01 par value; 200.0 million shares authorized, 8.2 million and 8.3 million shares issued and outstanding, respectively		82,425		83,064
Additional paid-in-capital		68,991,509		69,607,889
Accumulated deficit		(45,459,763)		(38,921,944)
Total Company’s Stockholders’ Equity		23,614,171		30,769,009
Noncontrolling interests		9,185,381		10,690,651
Total Stockholders’ Equity		32,799,552		41,459,660
Total Liabilities and Stockholders’ Equity	$	146,785,340	$	145,471,515

					Additional
	Common				Paid-In		Accumulated		Noncontrolling		Total
	Shares		Amount		Capital		Deficit		Interests		Equity
BALANCE, December 31, 2022		8,398,355	$	83,984	$	70,480,206	$	(27,881,782)	$	12,007,123	$	54,689,531

Net loss		-		-		-		(8,641,184)		(2,394,633)		(11,035,817)
Contributions of noncontrolling interests		-		-		-		-		846,682		846,682
Redemption and cancellation of common stock		(91,999)		(920)		(872,317)		-		-		(873,237)

BALANCE, September 30, 2023		8,306,356	$	83,064	$	69,607,889	$	(36,522,966)	$	10,459,172	$	43,627,159

	Common Stock				Additional Paid-In		Accumulated		Noncontrolling		Total
	Shares		Amount		Capital		Deficit		Interests		Equity
BALANCE, June 30, 2024		8,263,174	$	82,632	$	69,187,481	$	(44,302,446)	$	9,397,600	$	34,365,267

Net loss		-		-		-		(1,157,317)		(212,219)		(1,369,536)
Redemption and cancellation of common stock		(20,716)		(207)		(195,972)		-		-		(196,179)

BALANCE, September 30, 2024		8,242,458	$	82,425	$	68,991,509	$	(45,459,763)	$	9,185,381	$	32,799,552

Schedule of cash, cash equivalents, and restricted cash
	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Revenues
Room	$	5,576,436	$	4,861,851	$	14,098,877	$	9,973,274
Food, beverage and other		2,886,400		2,829,523		7,224,522		5,777,044
Total revenues	$	8,462,836	$	7,691,374	$	21,323,399	$	15,750,318

Table search / Financial reports / Lightstone Value Plus REIT IV, Inc.

57 results

Top filers

Top filing types

Recent filing years