American Realty Capital Daily Net Asset Value Trust, Inc.

CIK:0001501745|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Rental income	$ 457	$ 682	$ 1,835	$ 1,969
Operating expense reimbursements	17	48	111	96
Total revenues	474	730	1,946	2,065
Operating expenses:
Property operating	32	72	142	130
Acquisition and transaction related	0	0	0	50
General and administrative	541	22	1,040	121
Depreciation and amortization	323	490	1,291	1,418
Total operating expenses	896	584	2,473	1,719
Operating income	(422)	146	(527)	346
Interest expense	(158)	(235)	(621)	(698)
Gain on sale of real estate	212	0	212	0
Other income	0	0	1	1
Total other expense	54	(235)	(408)	(697)
Net loss	(368)	(89)	(935)	(351)
Other comprehensive income (loss):
Changes in unrealized gain on derivative	9	56	11	52
Comprehensive loss	$ (359)	$ (33)	$ (924)	$ (299)
Basic and diluted weighted average shares outstanding (in shares)	2,528,834	2,413,801	2,525,494	2,284,057
Basic and diluted net loss per share (in dollars per share)	$ (0.15)	$ (0.04)	$ (0.37)	$ (0.15)
Distributions per share (in dollars per share)	$ 0.107	$ 0.159	$ 0.419	$ 0.471

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net loss	$ (935)	$ (351)
Adjustment to reconcile net loss to net cash provided by operating activities:
Depreciation	1,079	1,195
Amortization of intangibles	212	223
Amortization of deferred financing costs	42	47
Accretion of below-market lease liability	(26)	0
Share-based compensation	201	29
Gain on sale of real estate	(212)	0
Changes in assets and liabilities:
Prepaid expenses and other assets	42	37
Accounts payable and accrued expenses	(955)	518
Deferred rent and other liabilities	(6)	(7)
Net cash (used in) provided by operating activities	(558)	1,691
Cash flows from investing activities:
Investment in real estate and other assets	0	(1,872)
Proceeds from sale of real estate asset	740	0
Net cash provided by (used in) investing activities	740	(1,872)
Cash flows from financing activities:
Proceeds from issuance of common stock	691	4,189
Common stock repurchases	(809)	(1,061)
Payments of offering costs and fees related to stock issuance	(146)	(1,236)
Distributions paid	(516)	(555)
Decrease (increase) in receivable from related party	3,597	(473)
Restricted cash	(1)	0
Net cash provided by financing activities	2,816	864
Net change in cash	2,998	683
Cash, beginning of period	825	178
Cash, end of period	3,823	861
Supplemental Disclosures
Cash paid for interest	582	653
Cash paid for income taxes	23	8
Non-cash Investing and Financing Activities:
Accrued offering costs	0	2,354
Receivable from related party for offering costs	113	0
Common stock issued through distribution reinvestment plan	$ 546	$ 515

CONSOLIDATED BALANCE SHEETS $ in Thousands	Dec. 31, 2014 USD ($)
ASSETS
Land	$ 3,072
Buildings, fixtures and improvements	27,959
Acquired intangible lease assets	4,133
Total real estate investments, at cost	35,164
Less accumulated depreciation and amortization	(4,685)
Total real estate investments, net	30,479
Cash	825
Restricted cash	151
Receivable from related party	4,439
Prepaid expenses and other assets	367
Deferred financing costs, net	137
Total assets	36,398
LIABILITIES AND EQUITY
Mortgage notes payable	11,246
Note payable	5,000
Below-market lease liability	374
Derivatives, at fair value	140
Accounts payable and accrued expenses	1,486
Deferred rent and other liabilities	137
Distributions payable	133
Total liabilities	18,516
Temporary equity:
Redeemable common stock	1,246
Stockholders' equity:
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at December 31, 2014	0
Common stock, $0.01 par value, 300,000,000 shares authorized, 2,493,286 shares issued and outstanding at December 31, 2014	25
Additional paid-in capital	22,229
Accumulated other comprehensive loss	(140)
Accumulated deficit	(5,478)
Total stockholders' equity	16,636
Total liabilities and equity	$ 36,398