PROPERTY AND EQIPMENT |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| PROPERTY AND EQIPMENT | |
| PROPERTY AND EQIPMENT | Note 6 – PROPERTY AND EQUIPMENT
As of December 31, 2025, property and equipment, net totaled $7,643,034.
Property and equipment primarily consist of residential real estate assets acquired in connection with the reverse merger with DC Rental Portfolio Corp. on September 29, 2025. In accordance with ASC 805, the acquired assets were recorded at their estimated fair value as of the acquisition date and are subsequently carried at cost less accumulated depreciation.
The Company evaluates property and equipment for impairment in accordance with ASC 360, Property, Plant and Equipment, whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. No impairment losses were recognized for the year ended December 31, 2025.
Construction in Progress
Construction in progress of $577,510 represents costs incurred for property improvements and development activities that are not yet placed in service and, accordingly, are not depreciated until the related assets are ready for their intended use. |