$MKZR
MacKenzie Realty Capital, Inc.
CIK:0001550913|SEC Filings
Consolidated Statements of Cash Flows - USD ($) |
12 Months Ended | |
|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Cash flows from operating activities: | ||
| Net loss | $ (14,127,610) | $ (23,970,277) |
| Adjustments to reconcile net loss to net cash from operating activities: | ||
| Net unrealized gain on equity securities at fair value | (790,405) | (49,407) |
| Net (income) loss from equity method investments at fair value | (421,696) | 767,066 |
| Net realized gain on investments | (24,302) | (132,434) |
| Impairment loss on assets held for sale | 1,687,783 | 0 |
| Impairment loss | 0 | 9,500,167 |
| Straight-line rent | (205,958) | (154,952) |
| Depreciation and amortization | 9,141,627 | 11,432,557 |
| Amortization of deferred financing costs and debt mark-to-market | 1,367,580 | 1,377,272 |
| Accretion of above (below) market lease, net | (161,645) | (544,103) |
| Stock-based compensation | 37,363 | 628,137 |
| Changes in assets and liabilities: | ||
| Investments income, rents and other receivables | (514,243) | (890,103) |
| Prepaid expenses and other assets | 137,361 | 125,104 |
| Deferred rent and other liabilities | (13,123) | 50,398 |
| Accounts payable and accrued liabilities | (1,092,443) | 144,376 |
| Due to related entities | 1,670,483 | 26,097 |
| Net cash from operating activities | (3,309,228) | (1,690,102) |
| Cash flows from investing activities: | ||
| Proceeds from sale of investments | 3,709,739 | 962,721 |
| Investments in real estate assets | (9,149,758) | (18,899,433) |
| Purchase of investments | (3,695,650) | (1,183,597) |
| Net cash from investing activities | (9,135,669) | (19,120,309) |
| Cash flows from financing activities: | ||
| Borrowing under mortgage notes payable | 22,803,277 | 48,477,670 |
| Payments on mortgage notes payable | (11,662,553) | (48,876,780) |
| Borrowing under line of credit | 412,000 | 9,588,000 |
| Proceeds from notes payable | 3,625,438 | 1,115,000 |
| Payments on notes payable | (2,047,342) | (223,898) |
| Payment of financing fees | (918,460) | (2,321,155) |
| Dividends to common stockholders | 0 | (4,802,866) |
| Proceeds from issuance of common stock | 317,121 | 3,794,260 |
| Proceeds from issuance of pre-funded warrants | 0 | 1,935,455 |
| Payment on finance lease liabilities | (274,028) | (234,109) |
| Payment of selling commissions and fees | (381,324) | (1,876,917) |
| Contributions by non-controlling interests holders | 0 | 5,574,804 |
| Distributions to non-controlling interests holders | (1,527,214) | (1,491,165) |
| Redemptions of common stock | (1,784) | (24) |
| Capital pending acceptance | (13,411) | (283,589) |
| Net cash from financing activities | 12,137,311 | 11,849,393 |
| Net decrease in cash, cash equivalents and restricted cash | (307,586) | (8,961,018) |
| Cash, cash equivalents and restricted cash at beginning of the year | 4,116,321 | 13,077,339 |
| Cash, cash equivalents and restricted cash at end of the year | 3,808,735 | 4,116,321 |
| Cash and cash equivalents at end of the year | 3,517,313 | 3,627,360 |
| Restricted cash at end of the year | 202,886 | 328,239 |
| Cash at end of the year classified as assets held for sale | 88,536 | 160,722 |
| Total cash, cash equivalents, restricted cash and cash classified as held for sale at end of the year | 3,808,735 | 4,116,321 |
| Supplemental disclosure of non-cash financing activities and other cash flow information: | ||
| Cash paid for interest | 7,990,528 | 7,203,282 |
| Conversion of Operating Partnership Series A Preferred Units to common stock | 118,082 | 0 |
| Reclassification of prepaid expenses and other assets to mortgage notes payable, net | 294,042 | 0 |
| Capitalized construction in progress outstanding as accounts payable and accrued expenses | 0 | 1,912,673 |
| Stock-based compensation | 0 | 665,500 |
| Operating Partnership Class A conversion to common stock | 0 | 3,301 |
| Green Valley Medical Center, LP [Member] | ||
| Supplemental disclosure of non-cash financing activities and other cash flow information: | ||
| Issuance of the Operating Partnership Preferred Units for the purchase of Green Valley Medical Center, LP (Note 1) | 0 | 2,712,194 |
| Fair value of assets acquired from consolidation of Green Valley Medical Center, LP | 0 | 13,621,753 |
| Fair value of liabilities assumed from consolidation of Green Valley Medical Center, LP | 0 | 8,904,457 |
| Martin Plaza Associates, LP [Member] | ||
| Supplemental disclosure of non-cash financing activities and other cash flow information: | ||
| Conversion of notes receivable to preferred equity of Martin Plaza Associates, LP | 0 | 200,000 |
| Series A Preferred Stock [Member] | ||
| Cash flows from financing activities: | ||
| Dividends to preferred stockholders | (943,328) | (952,669) |
| Proceeds from issuance of preferred stock | 1,164,985 | 226,100 |
| Redemptions of preferred stock | (88) | (5,531) |
| Supplemental disclosure of non-cash financing activities and other cash flow information: | ||
| Issuance of preferred stock through reinvestment of dividends | 187,418 | 192,770 |
| Issuance of Operating Partnership Preferred Units - Series A through reinvestment of dividends | 112,134 | 98,968 |
| Preferred Series conversion to common stock | 2,301,515 | 318,161 |
| Series B Preferred Stock [Member] | ||
| Cash flows from financing activities: | ||
| Dividends to preferred stockholders | (63,393) | (40,449) |
| Proceeds from issuance of preferred stock | 332,488 | 1,647,579 |
| Redemptions of preferred stock | (13) | 0 |
| Supplemental disclosure of non-cash financing activities and other cash flow information: | ||
| Issuance of preferred stock through reinvestment of dividends | 25,697 | 14,503 |
| Increase in liquidation preference of Series B preferred stock | 273,582 | 204,889 |
| Increase in liquidation preference of Operating Partnership Preferred Units - Series B | 97,227 | 97,229 |
| Preferred Series conversion to common stock | 151,462 | 0 |
| Conversion of Series B preferred stock liquidation preference (9% non-cash dividend) to common stock | 8,804 | 0 |
| Series C Preferred Stock [Member] | ||
| Cash flows from financing activities: | ||
| Dividends to preferred stockholders | (51,060) | 0 |
| Proceeds from issuance of preferred stock | 1,366,000 | 0 |
| Supplemental disclosure of non-cash financing activities and other cash flow information: | ||
| Issuance of preferred stock through reinvestment of dividends | 1,508 | 0 |
| Series A Common Stock [Member] | ||
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock warrants | 0 | 376,268 |
| Series B Common Stock [Member] | ||
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock warrants | $ 0 | $ 223,409 |
Consolidated Balance Sheets - USD ($) |
Jun. 30, 2026 |
Jun. 30, 2025 |
|---|---|---|
| Real estate assets | ||
| Land | $ 42,566,256 | $ 42,566,256 |
| Building, fixtures and improvements | 189,054,883 | 182,879,586 |
| Intangible lease assets | 10,931,578 | 11,686,822 |
| Less: accumulated depreciation and amortization | (29,864,947) | (24,358,852) |
| Total real estate assets, net | 212,687,770 | 212,773,812 |
| Cash and cash equivalents | 3,517,313 | 3,627,360 |
| Restricted cash | 202,886 | 328,239 |
| Investments, at fair value | 2,550,146 | 1,749,528 |
| Equity method investments, at fair value | 2,347,147 | 2,125,451 |
| Investments income, rents and other receivables | 2,871,934 | 2,227,630 |
| Prepaid expenses and other assets | 856,097 | 1,184,801 |
| Assets held for sale, net | 10,256,507 | 11,975,357 |
| Total assets | 235,289,800 | 235,992,178 |
| Liabilities | ||
| Mortgage notes payable, net | 131,867,757 | 120,417,074 |
| Line of credit, net | 10,000,000 | 9,449,389 |
| Notes payable, net | 3,863,717 | 2,567,118 |
| Deferred rent and other liabilities | 1,490,021 | 1,513,283 |
| Finance lease liabilities | 1,672,528 | 1,898,005 |
| Dividend payable | 734,333 | 715,498 |
| Accounts payable and accrued liabilities | 3,363,535 | 4,514,142 |
| Below-market lease liabilities, net | 221,007 | 530,474 |
| Due to related entities | 2,197,623 | 167,764 |
| Capital pending acceptance | 13,411 | |
| Liabilities held for sale | 652,274 | 664,577 |
| Total liabilities | 156,062,795 | 142,450,735 |
| Equity | ||
| Common stock, $0.0001 par value, 80,000,000 shares authorized; 2,512,270.00 and 1,578,192.98 shares issued and outstanding as of June 30, 2026 and June 30, 2025, respectively. | 251 | 158 |
| Additional paid-in capital | 148,073,839 | 145,050,643 |
| Accumulated deficit | (104,298,175) | (85,192,267) |
| Total stockholders’ equity | 43,776,005 | 59,858,623 |
| Non-controlling interests | 35,451,000 | 33,682,820 |
| Total equity | 79,227,005 | 93,541,443 |
| Total liabilities and equity | 235,289,800 | 235,992,178 |
| Series A Preferred Stock [Member] | ||
| Equity | ||
| Preferred stock | 73 | 77 |
| Series B Preferred Stock [Member] | ||
| Equity | ||
| Preferred stock | 12 | 12 |
| Series C Preferred Stock [Member] | ||
| Equity | ||
| Preferred stock | $ 5 | $ 0 |