Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 58,286 $ 47,786
Restricted cash 3,480 2,252
Accounts receivable, net 5,563 4,446
Real estate securities, available-for-sale 3,486 3,223
Other current assets 30,034 14,410
Total Current Assets 100,849 72,117
Restricted cash, noncurrent 798 795
Property and equipment, net of accumulated depreciation 179,260 169,425
Operating lease right-of-use assets 181,915 192,828
Intangibles, net of accumulated amortization 13,430 15,124
Other assets 6,538 6,765
Total Assets 482,790 457,054
Current Liabilities    
Obligations under finance leases 5,400 6,470
Membership deposit liabilities 18,039 14,692
Accounts payable and accrued expenses 34,469 29,596
Deferred revenue 26,301 23,010
Other current liabilities 26,524 28,217
Total Current Liabilities 110,733 101,985
Credit facilities and obligations under finance leases - noncurrent 9,075 12,751
Operating lease liabilities - noncurrent 166,031 167,837
Junior subordinated notes payable 51,174 51,182
Membership deposit liabilities, noncurrent 104,430 99,862
Deferred revenue, noncurrent 10,005 9,953
Other liabilities 1,487 3,447
Total Liabilities 452,935 447,017
Commitments and contingencies
Equity    
Preferred stock, $0.01 par value, 100,000,000 shares authorized, 1,347,321 shares of 9.75% Series B Cumulative Redeemable Preferred Stock, 496,000 shares of 8.05% Series C Cumulative Redeemable Preferred Stock, and 620,000 shares of 8.375% Series D Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share, issued and outstanding as of December 31, 2021 and 2020 61,583 61,583
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 92,093,425 and 67,323,592 shares issued and outstanding at December 31, 2021 and 2020, respectively 921 673
Additional paid-in capital 3,233,608 3,178,704
Accumulated deficit (3,268,876) (3,232,391)
Accumulated other comprehensive income 1,163 1,468
Total equity of the company 28,399 10,037
Noncontrolling interest 1,456 0
Total Equity 29,855 10,037
Total Liabilities and Equity $ 482,790 $ 457,054