| Schedule of Commercial Real Estate Loans Receivable |
The
following table summarizes the commercial real estate loans receivable balances:
Schedule
of Commercial Real Estate Loans Receivable
| | |
June 30, 2025 | | |
December 31, 2024 | |
| Commercial real estate loans receivable, gross | |
$ | 385,642 | | |
$ | 392,186 | |
| Allowance for credit losses | |
| - | | |
| - | |
Transferred to held for sale | |
| (385,642 | ) | |
| - | |
| Commercial real estate loans receivable, net | |
| - | | |
| 392,186 | |
| Current portion | |
| - | | |
| (13,332 | ) |
| Non-current portion | |
$ | - | | |
$ | 378,854 | |
|
Commercial real estate loans receivable, net consist
of the following:
Schedule
of Commercial Real Estate Loans Receivable
| | |
December 31, 2024 | | |
December 31, 2023 | |
| Commercial real estate loans receivable, gross | |
$ | 392,186 | | |
$ | 404,577 | |
| Allowance for credit losses | |
| - | | |
| (10,723 | ) |
| Commercial real estate loans receivable, net | |
| 392,186 | | |
| 393,854 | |
| Current portion | |
| (13,332 | ) | |
| (12,391 | ) |
| Noncurrent portion | |
$ | 378,854 | | |
$ | 381,463 | |
|
| Schedule of Allowance For Loan Losses |
|
The allowance for credit losses consists of the following
activity for the year ended December 31, 2024 and 2023:
Schedule of Allowance For Loan Losses
| Year ended December 31, | |
2024 | | |
2023 | |
| Allowance for credit losses | |
| | | |
| | |
| Beginning balance | |
$ | 10,723 | | |
$ | 21,488 | |
| Cumulative effect from adoption of CECL | |
| - | | |
| 14,980 | |
| Charge-offs | |
| - | | |
| - | |
| Recoveries | |
| - | | |
| - | |
| Benefits | |
| (10,723 | ) | |
| (25,745 | ) |
| Ending balance | |
$ | - | | |
$ | 10,723 | |
| | |
| | | |
| | |
| Loans receivable: | |
| | | |
| | |
| Individually evaluated for impairment | |
$ | 392,186 | | |
$ | - | |
| Collectively evaluated for impairment | |
| - | | |
| 404,577 | |
| | |
$ | 392,186 | | |
$ | 404,577 | |
| Allowance for credit losses: | |
| | | |
| | |
| Individually evaluated for impairment | |
$ | - | | |
$ | - | |
| Collectively evaluated for impairment | |
| - | | |
| 10,723 | |
| | |
$ | - | | |
$ | 10,723 | |
|
| Schedule of Risk Rating |
|
The carrying value, excluding the CECL Reserve, of
the Company’s loans held at carrying value within each risk rating is as follows:
Schedule
of Risk Rating
| Risk rating | |
Year ended. December 31, 2024 | | |
Year ended December 31, 2023 | |
| 6 | |
$ | 392,186 | | |
$ | - | |
| 4 | |
| - | | |
| 404,577 | |
| Grand total | |
$ | 392,186 | | |
$ | 404,577 | |
|