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Hartman vREIT XXI to amend quarterly report to correct error in financials

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Hartman vREIT XXI to amend quarterly report to correct error in financials

Diversified real estate investment trust Hartman vREIT XXI Inc. will file an amended quarterly report on Form 10-Q/A for the quarterly period ended Sept. 30, 2017, to correct an error in its issued financial statements.

The error pertains to the equity in earnings attributable to the company's unconsolidated unit for the three months and nine months ended Sept. 30, 2017.

For the three months ended Sept. 30, 2017, Hartman vREIT logged equity in earnings of $88,378 attributable to the unconsolidated subsidiary whereas it should have reported equity in a net loss of $63,047.

In addition, for the nine-month period ended Sept. 30, 2017, the company logged equity in earnings of $140,199 attributable to the unconsolidated subsidiary whereas it should have reported equity in a net loss of $128,250.

The previous figures failed to take into account the depreciation and amortization expense attributable to Hartman vREIT's stake in the unconsolidated subsidiary.