AFC GAMMA, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 10-Q
? QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the quarterly period ended June 30, 2021 ? TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from __________ to ___________
Commission File Number: 001-39995
AFC GAMMA, INC.
(Exact name of registrant as specified in its charter)
Maryland 85-1807125(State or other jurisdiction of (I.R.S. Employer Identification Number)
incorporation or organization)
525 Okeechobee Blvd. , Suite 1770,West Palm Beach, FL 33401 (Address of principal executive offices) (Zip Code ) (561) 510-2390 (Registrant's telephone number, including area code) N/A
(Former name, former address and former fiscal year, if changed since last
report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on Common Stock,$0.01 par AFCG which registered value per share Nasdaq
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ? No ?
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ? No ?
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. ?
Large Accelerated Non-accelerated Smaller reporting Emerging growth accelerated filer ? filer ? company ? company ? filer ?
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ?
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ? No ?
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.
Class Outstanding at August 5, 2021 Common stock,
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
AFC GAMMA, INC.
TABLE OF CONTENTS
INDEX
Part I. Financial Information
Item 1. Financial Statements 1
Balance Sheets as of June 30, 2021 (unaudited) and December 31, 1
2020
Statements of Operations for the three and six months ended June 2
30, 2021 (unaudited)
Statements of Stockholders' Equity for the three and six months 3
ended June 30, 2021 (unaudited)
Statement of Cash Flows for the six months ended June 30, 2021 4
(unaudited)
Notes to Financial Statements (unaudited) 5
Item 2. Management's Discussion and Analysis of Financial Condition and 22
Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk 38
Item 4. Controls and Procedures 42
Part II. Other Information 43
Item 1. Legal Proceedings 43
Item 1A. Risk Factors 43
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43
Item 3. Defaults Upon Senior Securities 44
Item 4. Mine Safety Disclosures 44
Item 5. Other Information 44
Item 6. Exhibits 44
--------------------------------------------------------------------------------
Index
© Edgar Online, source
