Condensed Consolidated Balance Sheets (Current period unaudited) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Property	$ 57,401,000	$ 57,027,000
Accumulated depreciation	(9,318,000)	(8,754,000)
Total real estate assets	48,083,000	48,273,000
Cash and cash equivalents	4,796,000	5,206,000
Escrows and utility deposits	1,692,000	1,243,000
Accrued rents and accounts receivable, net of allowance for doubtful accounts	1,268,000	1,260,000
Receivable due from related party	1,404,000	1,011,000
Unamortized lease commissions and deferred legal cost, net	402,000	464,000
Prepaid expenses and other assets	257,000	126,000
Total assets	57,902,000	57,583,000
Liabilities:
Notes payable	14,927,000	14,920,000
Accounts payable and accrued expenses	1,489,000	1,691,000
Payable due to related party	1,175,000	846,000
Convertible notes payable - related parties	197,780	198,000
Accrued interest payable	194,000	185,000
Tenants' security deposits	802,000	827,000
Total liabilities	18,785,000	18,667,000
Commitments and contingencies:	0	0
Shareholders' Equity:
Common Shares - $0.01 par value, 400,000,000 authorized: 695,214 shares issued and 657,084 outstanding at June 30, 2022 and December 31, 2021	7,000	7,000
Additional paid-in capital	28,493,000	28,493,000
Accumulated deficit	(23,974,000)	(23,882,000)
Treasury stock, at cost, 38,130 shares	(801,000)	(801,000)
Total Pillarstone Capital REIT shareholders' equity	3,730,000	3,822,000
Noncontrolling interest in subsidiary	35,387,000	35,094,000
Total equity	39,117,000	38,916,000
Total liabilities and equity	57,902,000	57,583,000
Real estate assets, at cost
Property	57,401,000	57,027,000
Accumulated depreciation	(9,318,000)	(8,754,000)
Total real estate assets	48,083,000	48,273,000
Cash and cash equivalents	4,796,000	5,206,000
Escrows and utility deposits	1,692,000	1,243,000
Accrued rents and accounts receivable, net of allowance for doubtful accounts	1,268,000	1,260,000
Receivable due from related party	1,404,000	1,011,000
Unamortized lease commissions and deferred legal cost, net	402,000	464,000
Prepaid expenses and other assets	257,000	126,000
Total assets	57,902,000	57,583,000
Accounts payable and accrued expenses	1,489,000	1,691,000
Accrued interest payable	194,000	185,000
Tenants' security deposits	802,000	827,000
Total liabilities	18,785,000	18,667,000
Series A Preferred Stock [Member]
Shareholders' Equity:
Preferred stock	3,000	3,000
Series C Preferred Stock [Member]
Shareholders' Equity:
Preferred stock	2,000	2,000
Variable Interest Entity, Not Primary Beneficiary [Member]
Property	57,388,000	57,023,000
Accumulated depreciation	(9,315,000)	(8,751,000)
Total real estate assets	48,073,000	48,272,000
Cash and cash equivalents	4,645,000	4,900,000
Escrows and utility deposits	1,692,000	1,243,000
Accrued rents and accounts receivable, net of allowance for doubtful accounts	1,113,000	1,104,000
Receivable due from related party	1,404,000	1,011,000
Unamortized lease commissions and deferred legal cost, net	402,000	464,000
Prepaid expenses and other assets	213,000	33,000
Total assets	57,542,000	57,027,000
Liabilities:
Accounts payable and accrued expenses	1,238,000	1,483,000
Accrued interest payable	64,000	64,000
Tenants' security deposits	802,000	827,000
Total liabilities	18,184,000	18,121,000
Real estate assets, at cost
Property	57,388,000	57,023,000
Accumulated depreciation	(9,315,000)	(8,751,000)
Total real estate assets	48,073,000	48,272,000
Cash and cash equivalents	4,645,000	4,900,000
Escrows and utility deposits	1,692,000	1,243,000
Accrued rents and accounts receivable, net of allowance for doubtful accounts	1,113,000	1,104,000
Receivable due from related party	1,404,000	1,011,000
Unamortized lease commissions and deferred legal cost, net	402,000	464,000
Prepaid expenses and other assets	213,000	33,000
Total assets	57,542,000	57,027,000
Notes payable	14,927,000	14,920,000
Accounts payable and accrued expenses	1,238,000	1,483,000
Payable due to related party	1,153,000	827,000
Accrued interest payable	64,000	64,000
Tenants' security deposits	802,000	827,000
Total liabilities	$ 18,184,000	$ 18,121,000

PILLARSTONE CAPITAL REIT 10-Q