Quarterly report pursuant to Section 13 or 15(d)

Revision of Previously Issued Financial Statements (Tables)

v3.24.1.u1
Revision of Previously Issued Financial Statements (Tables)
3 Months Ended
Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]  
Schedule of Corrections to Impacted Financial Statements A summary of the corrections to the impacted financial statement line items in the Company’s previously issued Condensed Consolidated Statements of Operations and Comprehensive Income, Condensed Consolidated Statements of Cash Flows and the Stockholders’ Equity tables for the quarter ended March 31, 2023, which was presented in a previously filed Quarterly Report on Form 10-Q, is as follows:
Condensed Consolidated Statements of Operations and Comprehensive Income
Three Months Ended March 31, 2023
As Previously Reported Adjustments As Revised
Operating expenses
Depreciation and amortization $ 15,474  $ (770) $ 14,704 
Total operating expenses $ 25,434  $ (770) $ 24,664 
Net income $ 2,397  $ 770  $ 3,167 
Net income available to the Company $ 2,404  $ 770  $ 3,174 
Net loss attributable to common stockholders $ (729) $ 770  $ 41 
Loss per weighted average share of common stock - basic & diluted
Loss attributable to common shareholders $ (0.02) $ 0.02  $ — 
Comprehensive income
Net income $ 2,397  $ 770  $ 3,167 
Total comprehensive loss attributable to the Company $ (3,491) $ 770  $ (2,721)

Stockholders’ Equity
Three Months Ended March 31, 2023
As Previously Reported Adjustments As Revised
Distributions in Excess of Accumulated Earnings
Balance, beginning of period $ (530,228) $ 1,124  $ (529,104)
Net income attributable to the Company 2,404  770  3,174 
Balance, end of period $ (542,937) $ 1,895  $ (541,042)
Total Stockholders' Equity
Balance, beginning of period $ 202,780  $ 1,124  $ 203,904 
Net income attributable to the Company 2,404  770  3,174 
Balance, end of period $ 188,987  $ 1,895  $ 190,882 
Total Equity $ 190,628  $ 1,895  $ 192,523 

Condensed Consolidated Statements of Cash Flows
Three Months Ended March 31, 2023
As Previously Reported Adjustments As Revised
Cash flows from operating activities:
Net income $ 2,397  $ 770  $ 3,167 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 15,474  (770) 14,704