VESTIN REALTY MORTGAGE II, INC. Disclosure Statement Pursuant to the Pink Basic Disclosure Guidelines
Vestin Realty Mortgage II, Inc.
8945 W Post Road, Suite 110
Las Vegas, NV 89148
_______________________________
702-227-0965
www.vestinrealtymortgage2.com
mike@vestinmortgage.com
6798
Quarterly Report
For the Period Ending: September 30, 2021
(the "Reporting Period")
As of September 30, 2021, the number of shares outstanding of our Common Stock was: 1,250
As of June 30, 2021, the number of shares outstanding of our Common Stock was: 1,250
As of December 31, 2020, the number of shares outstanding of our Common Stock was: 1,256
Indicate by check mark whether the company is a shell company (as defined in Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Exchange Act of 1934):
Yes: ☐ No: ☒
Indicate by check mark whether the company's shell status has changed since the previous reporting period:
Yes: ☐ No: ☒
Indicate by check mark whether a Change in Control of the company has occurred over this reporting period:
Yes: ☐ | No: ☒ |
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- Name and address(es) of the issuer and its predecessors (if any)
In answering this item, provide the current name of the issuer any names used by predecessor entities, along with the dates of the name changes.
Vestin Realty Mortgage II, Inc.
The state of incorporation or registration of the issuer and of each of its predecessors (if any) during the past five years; Please also include the issuer's current standing in its state of incorporation (e.g. active, default, inactive):
MD - active
Describe any trading suspension orders issued by the SEC concerning the issuer or its predecessors since inception:
None
List any stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization either currently anticipated or that occurred within the past 12 months:
None
The address(es) of the issuer's principal executive office:
8945 W. Post Road Suite 110, Las Vegas, NV 89148
The address(es) of the issuer's principal place of business:
Check box if principal executive office and principal place of business are the same address: ☒
Has the issuer or any of its predecessors been in bankruptcy, receivership, or any similar proceeding in the past five years?
Yes: ☐ | No: ☒ |
If this issuer or any of its predecessors have been the subject of such proceedings, please provide additional details in the space below:
- Security Information
Trading symbol: VRTB
Exact title and class of securities outstanding: Common
CUSIP: 9259X409
Par or stated value: 0.0001
Total shares authorized: | 100,000,000 | as of date: September 30, 2021 | |||
Total shares outstanding: | 1,250 | as of date: September 30, 2021 | |||
Number of shares in the Public Float: | 423 | as of date: September 30, 2021 | |||
Total number of shareholders of record: | 37 | as of date: September 30, 2021 |
Transfer Agent
Name: Broadridge
Phone: 631-392-5794
Email: lia.ludwig@broadridge.com
Address: 51 Mercedes Way, Edgewood NY 11717
Is the Transfer Agent registered under the Exchange Act? Yes: ☒ | No: ☐ |
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- Issuance History
- Changes to the Number of Outstanding Shares
Check this box to indicate there were no changes to the number of outstanding shares within the past two completed fiscal years and any subsequent periods: ☐
Shares Outstanding as of Second Most Recent Fiscal | |||||||||||||||
Year End: | |||||||||||||||
Opening Balance | *Right-click the rows below and select "Insert" to add rows as needed. | ||||||||||||||
Date 12/31/2018 | Common: 1,490 | ||||||||||||||
Preferred: | |||||||||||||||
Date of | Transaction | Number of | Class of | Value of | Were the | Individual/ Entity | Reason for share | Restricted or | Exemption or | ||||||
Transaction | type (e.g. new | Shares Issued | Securities | shares | shares | Shares were issued | issuance (e.g. for | Unrestricted | Registration | ||||||
issuance, | (or cancelled) | issued | issued at a | to (entities must | cash or debt | as of this | Type. | ||||||||
cancellation, | ($/per | discount to | have individual | conversion) | - | filing. | |||||||||
shares | share) at | market | with voting / | OR- | Nature | ||||||||||
returned to | Issuance | price at the | investment control | of Services | |||||||||||
treasury) | time of | disclosed). | Provided | ||||||||||||
issuance? | |||||||||||||||
(Yes/No) | |||||||||||||||
5/31/2019 | Cancelled | (1) | Common | No | |||||||||||
12/24/2019 | Cancelled | (7) | Common | No | |||||||||||
7/15/2020 | Cancelled | (134) | Common | No | |||||||||||
10/13/2020 | Cancelled | (92) | Common | No | |||||||||||
1/22/2021 | Cancelled | (6) | Common | No | |||||||||||
Shares Outstanding on Date of This Report:1,250 | |||||||||||||||
Ending Balance Ending Balance: | |||||||||||||||
Date 09/30/2021 | Common: | ||||||||||||||
Preferred: | |||||||||||||||
3
- Debt Securities, Including Promissory and Convertible Notes
Check this box if there are no outstanding promissory, convertible notes or debt arrangements: ☒
Date of Note | Outstanding | Principal | Interest | Maturity | Conversion Terms (e.g. pricing | Name of Noteholder | Reason for |
Issuance | Balance ($) | Amount at | Accrued | Date | mechanism for determining | (entities must have | Issuance (e.g. |
Issuance | ($) | conversion of instrument to | individual with voting / | Loan, Services, | |||
($) | shares) | investment control | etc.) | ||||
disclosed). | |||||||
- Financial Statements
A. The following financial statements were prepared in accordance with:
☒ U.S. GAAP ☐ IFRS
-
The financial statements for this reporting period were prepared by (name of individual):
Name: Michael V. Shustek
Title: CEO and President
Relationship to Issuer: Officer
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VESTIN REALTY MORTGAGE II, INC. | ||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||
(UNAUDITED) | ||||
ASSETS | ||||
September 30, 2021 | December 31, 2020 | |||
Assets | ||||
Cash and cash equivalents | $ | 4,892,000 | $ | 306,000 |
Accounts receivable | -- | 182,000 | ||
Prepaid expenses | 147,000 | 135,000 | ||
Internalization receivable | -- | 4,700,000 | ||
Investment in marketable securities | 911,000 | -- | ||
Investment in The Parking REIT, Inc. | -- | 12,855,000 | ||
Investment in real estate loans, net of allowance for loan losses of $1,449,000 at | ||||
June 30, 2021 and $2,450,000 at December 31, 2020 | 6,618,000 | 2,000 | ||
Investment in real estate, net of accumulated depreciation of $22,000 at December | ||||
31, 2020 | -- | 11,512,000 | ||
Due from related party | -- | 4,167,000 | ||
Receivable from Mr. Shustek-Principal | 3,548,000 | -- | ||
Receivable from Mr. Shustek-Interest | 711,000 | -- | ||
Total assets | $ | 16,827,000 | $ | 33,859,000 |
LIABILITIES AND EQUITY | ||||
Liabilities | ||||
Accounts payable and accrued liabilities | $ | 346,000 | $ | 641,000 |
Note payable | 44,000 | 5,969,000 | ||
Due to related parties | -- | 4,025,000 | ||
Total liabilities | 390,000 | 10,635,000 | ||
Equity | ||||
Vestin Realty Mortgage II, Inc. stockholders' equity: | ||||
Treasury stock, at cost, no shares at September 30, 2021 and December 31, 2020 | -- | -- | ||
Common stock, $0.0001 par value; 100,000,000 shares authorized; 1,250 and 1,256 | ||||
shares issued and outstanding at September 30, 2021 and December 31, 2020, | ||||
respectively | -- | -- | ||
Additional paid-in capital | 270,130,000 | 263,690,000 | ||
Accumulated deficit | (253,652,000) | (250,334,000) | ||
Accumulated other comprehensive loss | (41,000) | -- | ||
Total Vestin Realty Mortgage II, Inc. stockholders' equity | 16,437,000 | 13,356,000 | ||
Non-controlling interest | -- | 9,868,000 | ||
Total equity | 16,437,000 | 23,224,000 | ||
Total liabilities and equity | $ | 16,827,000 | $ | 33,859,000 |
The accompanying notes are an integral part of these consolidated financial statements.
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Vestin Realty Mortgage II Inc. published this content on 10 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2022 21:57:12 UTC.
