Presidio Property Trust, Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
SQFTW$0.01+1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| For the Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net (loss) income | $(23,103,864) | 13,177,526 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 5,515,518 | 5,425,739 |
| Stock compensation | 1,379,080 | 989,515 |
| Bad debt expense | — | 28,880 |
| Gain on sale of real estate assets, net | (3,426,572) | (3,240,200) |
| Gain on deconsolidation of SPAC investment | — | (40,321,483) |
| Employee Bonuses paid with CDT stock | 172,421 | — |
| Net loss in Conduit Pharmaceuticals fair value marketable securities | 17,925,723 | 23,359,774 |
| Net loss (gain) in fair value marketable securities | 560 | (204,878) |
| Net change in fair value SPAC Trust Account | — | (1,209,542) |
| Impairment of goodwill and real estate assets | 1,969,311 | 3,247,097 |
| Amortization of financing costs | 351,291 | 345,880 |
| Amortization of below-market leases | (4,641) | (4,974) |
| Amortization of deferred leasing costs | 7,744 | 7,744 |
| Straight-line rent adjustment | (152,722) | (332,055) |
| Changes in operating assets and liabilities: | ||
| Other assets | 82,575 | (211,023) |
| Deferred tax asset | 48,117 | (346,762) |
| Accounts payable and accrued liabilities | (1,511,991) | 11,546 |
| Accounts payable and accrued liabilities for the SPAC | — | 652,577 |
| Accrued real estate taxes | 19,390 | 73,212 |
| Net cash (used in) provided by operating activities | (728,060) | 1,448,573 |
| Cash flows from investing activities: | ||
| Real estate acquisitions | (9,729,351) | (21,909,963) |
| Additions to buildings and tenant improvements | (2,273,726) | (6,367,549) |
| Investment in marketable securities | (2,362) | (2,161,724) |
| Proceeds from sale of marketable securities | 105,206 | 2,974,910 |
| Investment of SPAC IPO proceeds into Trust Account | — | (624,998) |
| Withdrawals from Trust Account for SPAC taxes | — | 832,480 |
| Withdrawals from Trust Account for Redemption of SPAC Shares | — | 137,157,011 |
| Proceeds from sales of real estate, net | 24,767,052 | 10,698,386 |
| Net cash provided by investing activities | 12,866,819 | 120,598,553 |
| Cash flows from financing activities: | ||
| Proceeds from mortgage notes payable, net of issuance costs | 22,272,291 | 20,804,277 |
| Payment of debt issuance costs | (335,724) | (246,557) |
| Repayment of mortgage notes payable | (27,897,127) | (10,089,026) |
| Payment of deferred offering costs | — | (5,000) |
| Distributions to noncontrolling interests | (3,629,964) | (4,201,639) |
| Contributions from noncontrolling interests | 200,000 | 2,525,000 |
| Redemption of SPAC shares | — | (137,157,011) |
| Issuance of Series D Preferred Stock, net of offering costs | 1,195,855 | — |
| Repurchase of Series A Common Stock, at cost | (140,416) | — |
| Repurchase of Series D Preferred Stock, at cost | (40,910) | (369,986) |
| Dividends paid to Series D Preferred Stockholders | (2,236,696) | (2,118,846) |
| Dividends paid to Series A Common Stockholders | — | (1,194,635) |
| Net cash (used in) financing activities | (10,612,691) | (132,053,423) |
| Net (decrease) increase in cash equivalents and restricted cash | 1,526,068 | (10,006,297) |
| Cash, cash equivalents and restricted cash - beginning of period | 6,510,428 | 16,516,725 |
| Cash, cash equivalents and restricted cash - end of period | $8,036,496 | $6,510,428 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid-mortgage notes payable | $5,371,017 | $4,962,458 |
| Income taxes paid | $46,511 | $533,340 |
| Non-cash investing activities: | ||
| Private warrants from Conduit Pharmaceuticals | $642,600 | $— |
| Non-cash financing activities: | ||
| Unpaid building and tenant improvements | $207,847 | $295,567 |
| Dividends payable - Preferred Stock Series D | $194,784 | $174,011 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.