| Schedule of Net Loss From Discontinued Operations |
Details of the net loss
from discontinued operations were as follows for the years ended December 31:
| | |
2025 | | |
2024 | |
| REAL PROPERTY RENTAL REVENUE | |
$ | 1,410,259 | | |
$ | 1,333,403 | |
| REAL PROPERTY OPERATING EXPENSES | |
| (1,050,599 | ) | |
| (1,065,574 | ) |
| REAL PROPERTY OPERATING INCOME | |
| 359,660 | | |
| 267,829 | |
| OTHER OPERATING EXPENSES: | |
| | | |
| | |
| Professional fees | |
| 184,544 | | |
| 231,837 | |
| Compensation and related benefits | |
| 121,395 | | |
| 122,474 | |
| Total Other Operating Expenses | |
| 305,939 | | |
| 354,311 | |
| INCOME (LOSS) FROM OPERATIONS | |
| 53,721 | | |
| (86,482 | ) |
| OTHER (EXPENSE) INCOME | |
| | | |
| | |
| Interest expense - amortization of debt discount and debt issuance costs | |
| (84,553 | ) | |
| (119,228 | ) |
| Interest expense - other | |
| (711,291 | ) | |
| (658,000 | ) |
| Other income (expense) | |
| 20 | | |
| (80 | ) |
| Total Other Expense, net | |
| (795,824 | ) | |
| (777,308 | ) |
| LOSS BEFORE INCOME TAXES | |
| (742,103 | ) | |
| (863,790 | ) |
| INCOME TAXES | |
| - | | |
| - | |
| NET LOSS | |
$ | (742,103 | ) | |
$ | (863,790 | ) |
|
| Schedule of Assets and Liabilities of Discontinued Operations |
The following table summarizes
the assets and liabilities of the discontinued operations as of December 31:
| | |
2025 | | |
2024 | |
| ASSETS | |
| | |
| |
| CURRENT ASSETS | |
| | |
| |
| Cash | |
$ | 258,999 | | |
$ | 198,127 | |
| Rent receivable | |
| 84,898 | | |
| 80,829 | |
| Prepaid expense and other current assets | |
| 12,719 | | |
| 44,276 | |
| Total Current Assets | |
| 356,616 | | |
| 323,232 | |
| NON-CURRENT ASSETS: | |
| | | |
| | |
| Property and equipment, net | |
| 3,478 | | |
| 11,614 | |
| Investment in real estate, net | |
| 6,925,768 | | |
| 7,022,721 | |
| Deferred leasing costs and other non-current assets | |
| 8,523 | | |
| 71,794 | |
| Total Non-current Assets | |
| 6,937,769 | | |
| 7,106,129 | |
| Total Assets | |
$ | 7,294,385 | | |
$ | 7,429,361 | |
| LIABILITIES | |
| | | |
| | |
| CURRENT LIABILITIES: | |
| | | |
| | |
| Accrued liabilities and other payables | |
$ | 261,077 | | |
$ | 205,317 | |
| Note payable, net | |
| 5,800,000 | | |
| 5,715,447 | |
| Total Current Liabilities | |
| 6,061,077 | | |
| 5,920,764 | |
| NON-CURRENT LIABILITIES: | |
| | | |
| | |
| Deferred rental income | |
| 23,515 | | |
| - | |
| Total Non-current Liabilities | |
| 23,515 | | |
| - | |
| Total Liabilities | |
$ | 6,084,592 | | |
$ | 5,920,764 | |
|