| Schedule of gain on sale, assets and liabilities, results of the operations and cashflow and non-cash information associated with discontinued operations |
In December 2025, the Company recognized a gain on sale of discontinued operations amounting to $13,994,152, which is calculated as follows: | | | | Gross sales price | | $ | 55,105,862 | Closing costs | | | (520,283) | Net proceeds | | | 54,585,579 | Net book value(1) | | | (40,591,427) | Gain on sale of discontinued operations | | $ | 13,994,152 |
______________________________ | (1) | Represents the derecognition of the book value of the investments in properties along with the prepaid site development costs related to Tower II’s wireless tower assets under development. |
The following table provides a summary of the assets and liabilities associated with these Disposed Companies as of December 31, 2024: | | | | Investments in properties, net | | $ | 13,817,656 | Tenant and other receivables | | | 88,921 | Prepaid and other assets, net | | | 2,266,965 | Due from affiliates | | | 11,394 | Intangible assets, net | | | 20,817,040 | Ground lease ROU assets, net | | | 2,422,985 | Assets related to discontinued operations | | $ | 39,424,961 | | | | | Loan payable | | $ | 12,685,000 | Accounts payable and accrued liabilities | | | 156,413 | Interest expense payable | | | 32,592 | Due to affiliates | | | 56,546 | Deferred rent revenue | | | 15,098 | Ground lease liabilities, net | | | 2,458,799 | Asset retirement obligation, net | | | 1,866,090 | Liabilities related to discontinued operations | | $ | 17,270,538 |
| | | | | | | | | Year Ended December 31, | | | 2025 | | 2024 | Revenues | | | | | | | Rental revenues | | $ | 1,942,264 | | $ | 1,385,176 | Total income | | | 1,942,264 | | | 1,385,176 | Expenses | | | | | | | Property operating expenses | | | 623,327 | | | 344,752 | General and administrative | | | 87,750 | | | 85,440 | Depreciation and amortization | | | 3,173,549 | | | 2,413,054 | Accretion expense | | | 98,824 | | | 72,794 | Total expenses | | | 3,983,450 | | | 2,916,040 | Other expenses: | | | | | | | Interest expense | | | (1,219,622) | | | (344,226) | Gain on sale of assets from discontinued operations | | | 13,994,152 | | | — | Income (loss) from discontinued operations | | $ | 10,733,344 | | $ | (1,875,090) |
| | | | | | | | | Year Ended December 31, | | | 2025 | | 2024 | Asset acquisitions | | $ | (4,493,297) | | $ | (18,367,365) | Prepaid acquisition costs | | | (4,180,613) | | | (2,052,378) | Proceeds from loans payable | | | 5,505,795 | | | 12,685,000 | Repayment of loan payable | | | (16,500,000) | | | — | | | | | | | | Significant non-cash items: | | | | | | | Depreciation and amortization | | | 3,173,549 | | | 2,413,054 | Gain on sale of assets from discontinued operations | | | 13,994,152 | | | — | Addition of asset retirement obligations in relation to acquisitions | | | 246,142 | | | 660,142 | Ground lease right of use assets obtained in exchange for operating lease liabilities | | | 558,426 | | | 1,528,394 |
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