v3.22.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE:        
Rental revenues $ 15,324 $ 15,290 $ 30,656 $ 29,946
Other revenues 155 200 320 272
Total Revenue 15,479 15,490 30,976 30,218
OPERATING EXPENSES:        
Property operations 4,732 4,660 9,982 9,544
Depreciation and amortization 3,625 3,639 7,241 7,355
Impairment of assets held for sale 100 2,200 760 2,200
Corporate general & administrative 1,673 1,607 2,937 3,189
Total Operating Expenses 10,130 12,106 20,920 22,288
(Loss) gain on disposal of properties 0 0 (15) 176
Operating Income 5,349 3,384 10,041 8,106
Interest income 14 0 27 0
Interest expense (7,501) (5,215) (12,129) (14,176)
Net changes in fair value of derivative liabilities 2,085 (1,234) (1,877) (1,581)
Other income 0 0 0 552
Other expense 0 0 (691) 0
Net Loss Before Income Taxes (53) (3,065) (4,629) (7,099)
Income tax expense 0 (2) 0 (2)
Net Loss (53) (3,067) (4,629) (7,101)
Less: Net (loss) income attributable to noncontrolling interests (1) 0 3 15
Net Loss Attributable to Wheeler REIT (52) (3,067) (4,632) (7,116)
Preferred Stock dividends - undeclared (2,264) (2,189) (4,528) (4,462)
Deemed contribution related to preferred stock redemption 0 651 0 5,040
Net Loss Attributable to Wheeler REIT Common Stockholders $ (2,316) $ (4,605) $ (9,160) $ (6,538)
Loss per share:        
Basic (in dollars per share) $ (0.24) $ (0.47) $ (0.94) $ (0.67)
Diluted (in dollars per share) $ (0.24) $ (0.47) $ (0.94) $ (0.67)
Weighted-average number of shares:        
Basic (in shares) 9,734,755 9,707,711 9,727,711 9,706,183
Diluted (in shares) 9,734,755 9,707,711 9,727,711 9,706,183

Source