Quarterly report pursuant to sections 13 or 15(d)

Statements of Cash Flows

v2.4.0.6
Statements of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Net income $ (765,524) $ (385,980)
Depreciation and amortization 556,452 555,299
Provision for doubtful accounts   20,000
Tenant receivables and accrued revenue, net (82,934) (96,416)
Unbilled rent 32,750 75,613
Other assets 468 (9,936)
Accounts payable, accrued expenses and other liabilities 286,393 16,999
Net cash from operating activities 27,605 175,579
Capital expenditures (23,690) (33,670)
Net cash from investing activities (23,690) (33,670)
Distributions to members (126,092) (190,168)
Proceeds from sales of preferred stock 494,000 505,000
Deferred offering costs (135,977) (176,200)
Net proceeds from related parties (104,034) (115,390)
Mortgage indebtedness proceeds      
Mortgage indebtedness principal payments (182,187) (151,902)
Net cash from financing activities (54,290) (128,660)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (50,375) 13,249
CASH AND CASH EQUIVALENTS, beginning of period 104,007 199,637
CASH AND CASH EQUIVALENTS, end of period 53,632 212,886
Cash paid for interest 607,963 604,385
Subsidiaries [Member]
    
Net income 238,580 157,030
Depreciation and amortization 393,004 449,591
Provision for doubtful accounts 45,805 26,259
Tenant receivables and accrued revenue, net (56,729) (45,148)
Unbilled rent (8,130) 61,866
Other assets (101,601) (93,522)
Accounts payable, accrued expenses and other liabilities 18,597 142,813
Net cash from operating activities 529,526 698,889
Capital expenditures   (73,255)
Net cash from investing activities   (73,255)
Distributions to members (215,283) (324,045)
Deferred offering costs (153,990)  
Net proceeds from related parties (34,736) 113,398
Mortgage indebtedness principal payments (169,877) (161,519)
Net cash from financing activities (573,886) (372,166)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (44,360) 253,468
CASH AND CASH EQUIVALENTS, beginning of period 88,888 91,751
CASH AND CASH EQUIVALENTS, end of period 44,528 345,219
Cash paid for interest $ 644,025 $ 651,451