General form of registration statement for all companies including face-amount certificate companies

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.20.4
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:          
Net (loss) income $ (1,124,265) $ 1,466,643 $ 1,771,836 $ 592,850  
Adjustments to reconcile net (loss) income to net cash used in operating activities:          
Deferred tax liabilities (128,105) 177,297 128,105  
Interest earned on investments and marketable securities held in Trust Account (692,918) (2,792,314) (3,473,528) (1,687,599)  
Changes in operating assets and liabilities:          
Prepaid expenses 226,827 (236,433) (260,863) (43,214)  
Accounts payable 376,128 14,356 13,224 14,032  
Accrued expenses 648,281 2,500 24,110 (7,100)  
Franchise tax payable (9,950) (170,000) (160,000) 200,000  
Income tax payable 96,850      
Net cash used in operating activities (607,152) (1,537,951) (1,957,116) (931,031)  
Cash Flows from Investing Activities          
Principal deposited in Trust Account     (158,355,000)  
Cash deposited in Trust Account (1,469,038)      
Withdrawal from Trust upon redemption of Class A common stock 34,715,815      
Interest released from Trust Account 338,550 921,717 1,171,717 324,501  
Net cash provided by investing activities 33,585,327 921,717 1,171,717 (158,030,499)  
Cash Flows from Financing Activities:          
Proceeds from convertible note payable - related party 750,000 750,000 750,000 260,000  
Proceeds from promissory note - related party 1,000,000      
Redemption of Class A common stock (34,715,816)      
Repayment of note payable to related parties     (460,000)  
Proceeds received from initial public offering     155,250,000  
Offering costs     (3,671,204)  
Proceeds received from private placement     7,760,000  
Net cash (used in) provided by financing activities (32,965,816) 750,000 750,000 159,138,796  
Net decrease in cash and cash equivalents 12,359 133,766 (35,399) 177,266  
Cash and cash equivalents - beginning of the period 161,405 196,804 196,804 19,538  
Cash and cash equivalents - end of the period 173,764 330,570 161,405 196,804 $ 19,538
Supplemental disclosure of noncash investing and financing activities:          
Offering costs included in accounts payable     67,142  
Deferred underwriting commissions in connection with the initial public offering     5,433,750  
Reclassification of deferred offering costs to paid-in capital     178,283  
Change in value of Class A common stock subject to possible redemption (1,124,260) 1,466,645 1,771,832 149,209,569  
Supplemental cash flow disclosure:          
Cash paid for income taxes 178,500 601,467 811,467  
Landsea Homes [Member]          
Cash Flows from Operating Activities:          
Net (loss) income (19,742,000) 7,452,000 22,391,000 36,706,000 (303,000)
Adjustments to reconcile net (loss) income to net cash used in operating activities:          
Depreciation and amortization 2,684,000 2,160,000 2,960,000 1,556,000 204,000
Impairment of real estate held for sale 3,413,000 440,000
Inventory impairments  
Abandoned project costs 78,000 50,000 696,000 211,000 473,000
Distributions of earnings from unconsolidated joint ventures 3,561,000 3,561,000 13,582,000
Equity in net loss of unconsolidated joint ventures 16,229,000 7,498,000 7,901,000 (13,018,000) 458,000
Deferred tax liabilities (5,637,000) 1,905,000 (1,345,000) (6,880,000)
Changes in operating assets and liabilities:          
Accounts payable 16,497,000 (16,979,000) (20,601,000) 17,733,000 1,698,000
Cash held in escrow 1,332,000 (6,977,000) (7,132,000) (1,704,000)
Real estate inventories and inventories not owned (60,722,000) (53,362,000) 94,382,000 (77,488,000) (167,640,000)
Due from affiliates (17,000) (826,000) 1,445,000 (1,045,000) (833,000)
Notes receivable from lot sales 17,450,000 17,450,000 17,000,000
Other assets (160,000) (5,497,000) (3,605,000) (3,999,000) 1,276,000
Accrued expenses and other liabilities (2,879,000) (15,060,000) (11,908,000) 794,000 49,777,000
Due to affiliates 100,000 4,000 (153,000) 1,499,000 3,000
Net cash used in operating activities (48,824,000) (58,621,000) 106,042,000 (14,613,000) (114,887,000)
Cash Flows from Investing Activities          
Purchases of property and equipment (1,499,000) (4,060,000) (5,585,000) (3,408,000) (784,000)
Distributions of capital from unconsolidated joint ventures 1,681,000 1,681,000 17,055,000 45,667,000
Contributions and advances to unconsolidated joint ventures     (90,000) (17,844,000)
Repayments of advances from unconsolidated joint ventures 5,000,000 5,000,000 5,000,000
Payments for business acquisition, net of cash acquired (128,528,000) (23,562,000) (23,562,000)
Proceeds from sale of real estate held for sale     2,325,000
Additions to real estate held for sale     (28,000) (17,000)
Net cash provided by investing activities (130,027,000) (20,941,000) (22,466,000) 20,854,000 27,022,000
Cash Flows from Financing Activities:          
Borrowings from notes and other debts payable 442,392,000 242,462,000 276,559,000 340,382,000 89,211,000
Repayments of notes and other debts payable (305,655,000) (148,934,000) (296,203,000) (274,477,000) (60,395,000)
Borrowings from land bank financing     38,924,000 41,374,000
Repayments of land bank financing (41,667,000) (41,667,000) (38,631,000)
Contributions from noncontrolling interests 187,000 130,000 130,000 2,036,000
Distributions to noncontrolling interests (15,414,000) (5,924,000)
Offering costs (6,025,000)      
Debt issuance costs paid (2,678,000) (1,800,000) (1,299,000) (9,710,000) (926,000)
Cash (distributed to) provided by parent, net (3,476,000) 17,646,000 15,693,000 25,758,000 38,362,000
Net cash (used in) provided by financing activities 109,331,000 67,837,000 (46,787,000) 84,282,000 101,702,000
Net decrease in cash and cash equivalents (69,520,000) (11,725,000) 36,789,000 90,523,000 13,837,000
Cash and cash equivalents - beginning of the period 156,378,000 119,589,000 119,589,000 29,066,000 15,229,000
Cash and cash equivalents - end of the period 86,858,000 107,864,000 156,378,000 119,589,000 29,066,000
LS Boston Point LLC [Member]          
Cash Flows from Operating Activities:          
Net (loss) income     1,032,352 35,717,556 (375,990)
Adjustments to reconcile net (loss) income to net cash used in operating activities:          
(Income) from non-controlled joint ventures     (1,087,482) (11,457,359) 135,065
Gain on sale of partnership interest       (24,559,387)
Changes in operating assets and liabilities:          
Accounts payable and accrued expenses     (120,522) 120,522 (43,000)
Distributions of earning from non-controlling joint venture     1,208,004 11,337,186
Total adjustments       (24,559,038) 92,065
Net cash used in operating activities     1,032,352 11,158,518 (283,925)
Cash Flows from Investing Activities          
Distributions of capital from unconsolidated joint ventures     9,493,034 50,764,158
Contributions and advances to unconsolidated joint ventures       (774,287) (246,783)
Net cash provided by investing activities     9,493,034 49,989,871 (246,783)
Cash Flows from Financing Activities:          
Repayment of note payable to related parties     (46,386) (71,218)
Contributions from noncontrolling interests       180,000 646,506
Distributions to noncontrolling interests     (10,483,232) (61,274,000)
Net cash (used in) provided by financing activities     (10,483,232) (61,140,386) 575,288
Net decrease in cash and cash equivalents     42,154 8,003 44,580
Cash and cash equivalents - beginning of the period $ 94,737 $ 52,583 52,583 44,580
Cash and cash equivalents - end of the period     $ 94,737 52,583 44,580
Supplemental disclosure of noncash investing and financing activities:          
Non-cash distribution of partnership interest in Point Condo Holdings LLC from Fenway Point Partners LLC       $ 9,838,566