| Schedule of Reportable Business Segments |
Information with respect to these reportable business
segments for the years ended December 31, 2025 and 2024 was as follows:
| |
|
Property Investment Portfolio |
|
|
Real Estate Services |
|
|
Corporate and Unallocated |
|
|
Consolidated |
|
| Net revenues |
|
$ |
3,080,654 |
|
|
$ |
1,059,804 |
|
|
$ |
- |
|
|
$ |
4,140,458 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses (excluding depreciation and amortization) |
|
|
478,167 |
|
|
|
1,291,667 |
|
|
|
776,547 |
|
|
|
2,546,381 |
|
| Impairment loss from buildings |
|
|
3,118,716 |
|
|
|
- |
|
|
|
- |
|
|
|
3,118,716 |
|
| Depreciation and amortization |
|
|
358,114 |
|
|
|
- |
|
|
|
2,789 |
|
|
|
360,903 |
|
| Loss from operations |
|
|
(874,343 |
) |
|
|
(231,863 |
) |
|
|
(779,336 |
) |
|
|
(1,885,542 |
) |
| Interest expense |
|
|
(677,156 |
) |
|
|
- |
|
|
|
(119,956 |
) |
|
|
(797,112 |
) |
| Other income |
|
|
3,500 |
|
|
|
- |
|
|
|
- |
|
|
|
3,500 |
|
| Impairment of equity securities |
|
|
- |
|
|
|
- |
|
|
|
(50,000 |
) |
|
|
(50,000 |
) |
| Equity method loss from unconsolidated joint ventures |
|
|
- |
|
|
|
- |
|
|
|
(3,352 |
) |
|
|
(3,352 |
) |
| Loss from derivative – interest rate swap |
|
|
(121,909 |
) |
|
|
- |
|
|
|
- |
|
|
|
(121,909 |
) |
| Loss before provision for income taxes |
|
|
(1,669,908 |
) |
|
|
(231,863 |
) |
|
|
(952,644 |
) |
|
|
(2,854,415 |
) |
| Provision for income taxes |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Net income (loss) |
|
$ |
(1,669,908 |
) |
|
$ |
(231,863 |
) |
|
$ |
(952,644 |
) |
|
$ |
(2,854,415 |
) |
| | |
Property Investment Portfolio | | |
Real Estate Services | | |
Corporate and Unallocated | | |
Consolidated | |
| Net revenues | |
$ | 2,884,286 | | |
$ | 909,003 | | |
$ | - | | |
$ | 3,793,289 | |
| | |
| | | |
| | | |
| | | |
| | |
| Operating expenses (excluding depreciation and amortization) | |
| 1,053,287 | | |
| 369,792 | | |
| 909,094 | | |
| 2,332,173 | |
| Depreciation and amortization | |
| 352,351 | | |
| - | | |
| 5,595 | | |
| 357,946 | |
| Income (loss) from operations | |
| 1,478,648 | | |
| 539,211 | | |
| (914,689 | ) | |
| 1,103,170 | |
| Interest expense | |
| (576,745 | ) | |
| - | | |
| (119,927 | ) | |
| (696,672 | ) |
| Other income | |
| 167,460 | | |
| - | | |
| - | | |
| 167,460 | |
| Income (loss) before provision for income taxes | |
| 1,069,363 | | |
| 539,211 | | |
| (1,034,616 | ) | |
| 573,958 | |
| Provision for income taxes | |
| - | | |
| - | | |
| - | | |
| - | |
| Net income (loss) | |
$ | 1,069,363 | | |
$ | 539,211 | | |
$ | (1,034,616 | ) | |
$ | 573,958 | |
|
| Schedule of Assets by Segment |
Total assets by segment on December 31, 2025 and
2024 were as follows:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| | |
| | |
| |
| Property investment portfolio | |
$ | 13,160,412 | | |
$ | 15,546,075 | |
| Real estate services | |
| 50,262 | | |
| 121,139 | |
| Corporate and unallocated | |
| 721,802 | | |
| 514,925 | |
| | |
$ | 13,932,476 | | |
$ | 16,182,139 | |
|