Schedule of Reportable Business Segments |
Three Months Ended March 31, 2025
| |
Property Investment Portfolio | | |
Real Estate Services | | |
Corporate and Unallocated | | |
Consolidated | |
Net revenues | |
$ | 760,892 | | |
$ | 213,660 | | |
$ | - | | |
$ | 974,552 | |
| |
| | | |
| | | |
| | | |
| | |
Operating expenses (excluding depreciation and amortization) | |
| 188,101 | | |
| 19,667 | | |
| 249,505 | | |
| 457,273 | |
Depreciation and amortization | |
| 87,811 | | |
| - | | |
| 697 | | |
| 88,508 | |
Income (loss) from operations | |
| 484,980 | | |
| 193,993 | | |
| (250,202 | ) | |
| 428,771 | |
Interest expense | |
| (164,541 | ) | |
| - | | |
| (30,000 | ) | |
| (194,541 | ) |
Other income | |
| - | | |
| - | | |
| 18 | | |
| 18 | |
Loss from derivative – interest rate swap | |
| (88,390 | ) | |
| - | | |
| - | | |
| (88,390 | ) |
Income (loss) before provision for income taxes | |
| 232,049 | | |
| 193,993 | | |
| (280,184 | ) | |
| 145,858 | |
Provision for income taxes | |
| - | | |
| - | | |
| - | | |
| - | |
Net income (loss) | |
$ | 232,049 | | |
$ | 193,993 | | |
$ | (280,184 | ) | |
$ | 145,858 | |
Three Months Ended March 31, 2024
| |
Property Investment Portfolio | | |
Real Estate Services | | |
Corporate and Unallocated | | |
Consolidated | |
Net revenues | |
$ |
691,292 | | |
$ |
145,760 | | |
$ |
- | | |
$ |
837,052 | |
| |
| | |
| | |
| | |
| |
Operating expenses (excluding depreciation and amortization) | |
| 191,945 | | |
| 169,366 | | |
| 257,185 | | |
| 618,496 | |
Depreciation and amortization | |
| 88,086 | | |
| - | | |
| 1,561 | | |
| 89,647 | |
Income (loss) from operations | |
| 411,261 | | |
| (23,606 | ) | |
| (258,746 | ) | |
| 128,909 | |
Interest expense | |
| (128,039 | ) | |
| - | | |
| (30,000 | ) | |
| (158,039 | ) |
Income from derivative – interest rate swap | |
| 125,603 | | |
| - | | |
| - | | |
| 125,603 | |
Income (loss) before provision for income taxes | |
| 408,825 | | |
| (23,606 | ) | |
| (288,746 | ) | |
| 96,473 | |
Provision for income taxes | |
| - | | |
| - | | |
| - | | |
| - | |
Net income (loss) | |
$ | 408,825 | | |
$ | (23,606 | ) | |
$ | (288,746 | ) | |
$ | 96,473 | |
|
Schedule of Assets by Segment |
| |
March 31, 2025 | | |
December 31, 2024 | |
Total assets by segment on March 31, 2025 and December 31, 2024 was as follows: | |
| | |
| |
Property investment portfolio | |
$ | 15,509,896 | | |
$ | 15,546,075 | |
Real estate services | |
| 71,211 | | |
| 121,139 | |
Corporate and unallocated | |
| 1,035,242 | | |
| 514,925 | |
| |
$ | 16,616,349 | | |
$ | 16,182,139 | |
|