GADS Gadsden Properties

Our company, founded in 1980, has recently transitioned from its former business as a skin health company to a company focused on real estate development and asset management, concentrating primarily on investments in, and the management and development of income producing real estate assets.

Company profile

John R. Hartman
Fiscal year end
Industry (SIC)
Former names
IRS number

GADS stock data


Investment data

Data from SEC filings
Securities sold
Number of investors


31 Mar 20
3 Aug 21
31 Dec 21

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
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Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
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Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
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Financial report summary

Management Discussion
  • Rental income. For the three months ended June 30, 2019, rental income was $14 thousand compared to $0 in the three months ended June 30, 2018. The increase was due to the acquisition of a rental income producing property in the reverse capitalization in April 2019.
  • General and administrative expenses. For the three months ended June 30, 2019, general and administrative expenses were approximately $2.0 million and are mainly comprised of payroll and related expenses, professional service, rent and other operating expenses. For the three months ended June 30, 2018, general and administrative expenses were approximately $0.7 million. The increase of approximately $1.3 million was primarily the result of legal, insurance and salaries which included the addition of one FTE employee. Also attributing to the increase was impairment recorded on property held for sale and a loss on the sale of property. 
  • Interest and other financing expense, net. Net interest and other financing expense related to our notes payable for the three months ended June 30, 2019 was approximately $1.2 million. Net interest and other financing expense related to our notes payable and currency conversion differences for the three months ended June 30, 2018 was approximately $46 thousand. The increase of approximately $1.2 million is primarily due to exit fees associated with the Sacramento property held for sale.
Content analysis
H.S. junior Avg
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