Power REIT Files Amended Q2 2024 10-Q

TL;DR

Power REIT amended its Q2 10-Q. Financials updated.

AI Summary

Power REIT filed an amended 10-Q for the period ending June 30, 2024. The filing details financial information including common shares and preferred stock. Key dates mentioned are the filing date of September 24, 2024, and the reporting period of January 1, 2024, to June 30, 2024.

Why It Matters

This amended filing provides updated financial disclosures for Power REIT, which is crucial for investors to assess the company's performance and financial health.

Risk Assessment

Risk Level: low — This filing is an amendment to a standard quarterly report and does not appear to contain significant new negative information.

Key Numbers

• N/A — Financial Data (Specific financial figures were not detailed in the provided text snippet.)

Key Players & Entities

• Power REIT (company) — Filer of the 10-Q/A
• 20240630 (date) — Conformed period of report
• 20240924 (date) — Filed as of date

FAQ

Key Financial Figures

• $25 — Preferred Stock, Liquidation Preference $25 per Share PW.A NYSE American, LLC
• $25.00 — ble Perpetual Preferred Stock Par Value $25.00 (the "Preferred Shares"), should proper
• $75,000 — y with a fixed amortization schedule of $75,000 for the first month, $40,000 for the se
• $40,000 — chedule of $75,000 for the first month, $40,000 for the second and third months, $45,00
• $45,000 — 40,000 for the second and third months, $45,000 for the fourth month and $15,000 per mo
• $15,000 — onths, $45,000 for the fourth month and $15,000 per month thereafter until maturity. Th

Filing Documents

• form10-qa.htm (10-Q/A) — 1326KB
• ex31-1.htm (EX-31.1) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-24-037993.txt ( ) — 7330KB
• pw-20240630.xsd (EX-101.SCH) — 46KB
• pw-20240630_cal.xml (EX-101.CAL) — 71KB
• pw-20240630_def.xml (EX-101.DEF) — 219KB
• pw-20240630_lab.xml (EX-101.LAB) — 424KB
• pw-20240630_pre.xml (EX-101.PRE) — 341KB
• form10-qa_htm.xml (XML) — 1354KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 3

– Financial Statements (Unaudited)

Item 1 – Financial Statements (Unaudited) 3 Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Consolidated 4 Consolidated 5 Consolidated 6 Notes to Unaudited Consolidated Financial Statements 7 Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3 – Quantitative and Qualitative Disclosures About Market Risk 27 Item 4 – Controls and Procedures 27 PART II – OTHER INFORMATION 28 Item 1 – Legal Proceedings 28 Item 1A – Risk Factors 28 Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3 – Defaults Upon Senior Securities 31 Item 4 – Mine Safety Disclosures 31 Item 5 – Other Information 31 Item 6 – Exhibits 31 SIGNATURE 32 2 POWER REIT AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) June 30, 2024 (as restated , see note 2.A) December 31, 2023 (as corrected, see note 2.A) ASSETS Land $ 5,536,596 $ 5,604,097 Greenhouse cultivation and processing facilities, net of accumulated depreciation 8,756,162 12,901,450 Net investment in direct financing lease - railroad 9,150,000 9,150,000 Total real estate assets 23,442,758 27,655,547 Cash and cash equivalents 2,455,133 2,202,632 Restricted cash 480,495 1,902,252 Prepaid expenses and deposits 707,298 223,250 Intangible lease asset, net of accumulated amortization 2,390,677 2,504,421 Deferred rent receivable 493,396 438,994 Mortgage loan receivables 1,945,000 850,000 Assets held for sale 17,812,866 34,363,172 Other assets 61,864 69,972 TOTAL ASSETS $ 49,789,487 $ 70,210,240 LIABILITIES AND EQUITY Accounts payable $ 88,318 $ 58,773 Accrued expenses 389,48

View Full Filing

View this 10-Q/A filing on SEC EDGAR