Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 782 $ 342
Restricted cash 1,351
Accounts receivable, net 742 1,449
Other current assets 649 1,575
Assets of discontinued operations 157,677
Total current assets 3,531 161,043
Investment in single-family residential properties    
Land 48,264
Buildings 181,564
Total investment in single-family residential properties 229,828
Property and equipment, net 1,038 3,247
Operating lease right-of-use assets 1,038
Total assets 235,435 164,290
Current liabilities:    
Accounts payable 2,986 3,402
Accrued expenses and other current liabilities 12,836 4,964
Operating lease liabilities, current portion 557
Financing lease liabilities, current portion 69
Senior note payable, current portion, net of original issue discount and deferred financing costs 34,322
Convertible notes payable, net of original issue discount and deferred financing costs 4,147 4,498
Merchant credit agreements, net of original issue discount and deferred financing costs 2,102
Notes payable, current portion, net of original issue discount and deferred financing costs 29,839 3,639
Notes payable, Benchmark Sellers, current portion, net of original issue discount and deferred financing costs 25,049 13,397
Notes payable, related party, current portion, net of original issue discount 10,750
Debt derivative liability 4,169 8,038
Warrant derivative liability 6,689 3,558
Liabilities of discontinued operations 115,408
Total current liabilities 97,091 193,328
Notes payable and financing leases, non-current portion, net of original issue discount and deferred financing costs 62,962 1,268
Notes payable, Benchmark Sellers, non-current portion, net of original issue discount and deferred financing costs 29,153
Notes payable, related party, non-current portion, net of original issue discount and deferred financing costs 230
Operating lease liabilities, non-current portion 482
Financing lease liabilities, non-current portion 44
Total liabilities 160,809 223,749
Commitments and contingencies (Note 17)
Stockholders' equity (deficit):    
Preferred stock; $0.01 par value, 5,000,000 shares authorized:
Common stock, $0.001 par value, 100,000,000 shares authorized 21,218,464 and 12,286,847 shares issued and outstanding at December 31, 2019 and 2018, respectively 21 12
Additional paid-in capital 131,366 113,881
Shares to be issued 133,311 1,280
Accumulated deficit (190,072) (174,632)
Total stockholders' equity (deficit) 74,626 (59,459)
Total liabilities and stockholders' equity (deficit) 235,435 164,290
Series A Convertible Preferred Stock [Member]    
Stockholders' equity (deficit):    
Preferred stock; $0.01 par value, 5,000,000 shares authorized:
Series A-1 Convertible Preferred Shares [Member]    
Stockholders' equity (deficit):    
Preferred stock; $0.01 par value, 5,000,000 shares authorized:
Series I Convertible Preferred Shares [Member]    
Stockholders' equity (deficit):    
Preferred stock; $0.01 par value, 5,000,000 shares authorized: