10-Q Filing

FRANKLIN BSP REALTY TRUST, INC. CIK: 1562528 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001562528-13-000004`
Period End Date	20130630
Filing Date	20130813
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	ck1562528-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 25 Cash Flow Statement 29 Stockholders Equity 12

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$573.00	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$204.31K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Loan receivable, net	`LoansReceivableNet`	-	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Loan receivable, net	`LoansReceivableNet`	$3.98M	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$24.63K	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	110,610.00	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$33.15K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8,888.00	shares	Point-in-time
Deferred costs	`DeferredFinanceCostsNet`	$940.62K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	114,609.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	110,610.00	shares	Point-in-time
Deferred costs	`DeferredFinanceCostsNet`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8,888.00	shares	Point-in-time
Total assets	`Assets`	$4.24M	USD	Point-in-time
Total assets	`Assets`	$941.19K	USD	Point-in-time
Revolving line of credit with affiliate	`LongTermDebt`	-	USD	Point-in-time
Revolving line of credit with affiliate	`LongTermDebt`	$1.95M	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrentAndNoncurrent`	$121.50K	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrentAndNoncurrent`	$1.26M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$970.33K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$635.22K	USD	Point-in-time
Distributions payable	`DividendsPayableCurrentAndNoncurrent`	$17.75K	USD	Point-in-time
Distributions payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$7.99K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$4.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$756.72K	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at June 30, 2013 and December 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at June 30, 2013 and December 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized, 110,610 and 8,888 shares issued and outstanding as of June 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$89.00	USD	Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized, 110,610 and 8,888 shares issued and outstanding as of June 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$1.11K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$218.79K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$199.91K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.53K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-179.47K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$184.47K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$40.43K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$941.19K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.24M	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InterestAndDividendIncomeOperating`	$66.08K	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	$66.08K	USD	2 Qtrs
Interest expense	`InterestExpense`	$8.76K	USD	2 Qtrs
Interest expense	`InterestExpense`	$8.76K	USD	1 Quarter
Net interest income	`Revenues`	$57.32K	USD	2 Qtrs
Net interest income	`Revenues`	$57.32K	USD	1 Quarter
Board expenses	`BoardExpenses`	$81.43K	USD	1 Quarter
Board expenses	`BoardExpenses`	$81.43K	USD	2 Qtrs
Insurance expense	`GeneralInsuranceExpense`	$55.00K	USD	1 Quarter
Insurance expense	`GeneralInsuranceExpense`	$55.00K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$18.09K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$18.09K	USD	1 Quarter
Other expenses	`OtherExpenses`	$42.93K	USD	1 Quarter
Other expenses	`OtherExpenses`	$47.95K	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$197.45K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$202.47K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-140.13K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-145.15K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-145.15K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-140.13K	USD	1 Quarter
Net loss per share, basic and diluted (usd per share)	`EarningsPerShareBasicAndDiluted`	$-1.42	USD	2 Qtrs
Net loss per share, basic and diluted (usd per share)	`EarningsPerShareBasicAndDiluted`	$-1.37	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	101,990.00	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	101,990.00	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99,897.00	shares	2 Qtrs

Cash Flow Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-140.13K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-145.15K	USD	2 Qtrs
Discount accretion	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$19.73K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$6.80K	USD	2 Qtrs
Accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$24.63K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$33.15K	USD	2 Qtrs
Interest payable	`IncreaseDecreaseInInterestPayableNet`	$7.99K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$129.44K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-78.44K	USD	2 Qtrs
Loan investments	`ProceedsFromLoanOriginations1`	$-3.97M	USD	2 Qtrs
Principal repayments received on loan investments	`PaymentsForProceedsFromLoansAndLeases`	$-6.18K	USD	2 Qtrs
Principal repayments received on loan investments	`PaymentsForProceedsFromLoansAndLeases`	$-6.18K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.96M	USD	2 Qtrs
Proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.30M	USD	2 Qtrs
Payments of offering costs and fees related to common stock issuances	`PaymentsOfStockIssuanceCosts`	$1.14M	USD	2 Qtrs
Advances from affiliate	`IncreaseDecreaseInDueToAffiliates`	$1.13M	USD	2 Qtrs
Borrowings on revolving line of credit with affiliate	`ProceedsFromDebtNetOfIssuanceCosts`	$1.95M	USD	2 Qtrs
Distributions Paid	`PaymentsOfCapitalDistribution`	$507.00	USD	2 Qtrs
Distributions Paid	`PaymentsOfCapitalDistribution`	$1.03K	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.24M	USD	2 Qtrs
Net change in cash	`CashPeriodIncreaseDecrease`	$203.74K	USD	2 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$573.00	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$204.31K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$573.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$204.31K	USD	Point-in-time
Escrow deposits payable related to loan investments	`EscrowDepositsRelatedToPropertySales`	$5.50K	USD	2 Qtrs
Distributions Payable	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	$17.75K	USD	2 Qtrs
Common stock issued through distribution reinvestment plan	`CommonStockIssuedDividendReinvestmentInvestmentPlan`	$526.00	USD	2 Qtrs
Reclassification of deferred offering costs to additional paid-in capital	`ReclassificationOfDeferredOfferingCosts`	$940.62K	USD	2 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$184.47K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$40.43K	USD	Point-in-time
Issuances of common stock	`StockIssuedDuringPeriodValueNewIssues`	$2.30M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-140.13K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-145.15K	USD	2 Qtrs
Distributions declared	`Dividends`	$18.79K	USD	2 Qtrs
Common stock issued through distribution reinvestment plan (in shares)	`StockIssuedDuringPeriodSharesDividendReinvestmentPlan`	22.00	shares	2 Qtrs
Common stock issued through distribution reinvestment plan	`StockIssuedDuringPeriodValueDividendReinvestmentPlan`	$526.00	USD	2 Qtrs
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$6.80K	USD	2 Qtrs
Common stock offering costs, commissions and dealer manager fees	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$2.29M	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$184.47K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$40.43K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.