Power REIT
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 6, 2026
PW$6.86+1.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations for the three and nine months ended September 30, 2026 and 2025
POWER REIT AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months Ended September 30, · Nine Months Ended September 30, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2026 · 2025 · 2026 · 2025 | ||||||||
| INCOME | ||||||||
| Lease income from direct financing lease – railroad | $228,750 | $228,750 | $686,250 | $686,250 | ||||
| Rental income | 274,485 | 245,729 | 712,443 | 692,647 | ||||
| Other income | 38,940 | 38,631 | 316,669 | 126,790 | ||||
| TOTAL INCOME | 542,175 | 513,110 | 1,715,362 | 1,505,687 | ||||
| EXPENSES | ||||||||
| Amortization of intangible assets | 56,872 | 56,872 | 170,616 | 170,616 | ||||
| General and administrative | 195,473 | 265,998 | 642,221 | 934,299 | ||||
| Property expenses and taxes | 56,841 | 100,324 | 218,936 | 834,952 | ||||
| Depreciation expense | 6,971 | 13,812 | 24,214 | 36,797 | ||||
| Impairment expense | 40,514 | 31,804 | 406,631 | 45,404 | ||||
| Interest expense | 236,048 | 244,660 | 717,707 | 1,815,337 | ||||
| Recovery of allowance for receivable | - | - | (597,000) | - | ||||
| TOTAL EXPENSES | 592,719 | 713,470 | 1,583,325 | 3,837,405 | ||||
| OTHER INCOME/(EXPENSE) | ||||||||
| Loss on sale of properties | (85,664) | - | (690,027) | (7,628) | ||||
| Gain on extinguishment of debt | - | - | - | 1,092,670 | ||||
| Unrealized gain/(loss) on marketable securities | 495 | 46,412 | (35,447) | 529 | ||||
| Realized gain on marketable securities | - | 377,499 | - | 377,499 | ||||
| TOTAL OTHER INCOME/(EXPENSE) | (85,169) | 423,911 | (725,474) | 1,463,070 | ||||
| NET INCOME/(LOSS) | (135,713) | 223,551 | (593,437) | (868,648) | ||||
| Preferred Stock Dividends | (163,207) | (163,207) | (489,621) | (489,621) | ||||
| NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS | $(298,920) | $60,344 | $(1,083,058) | $(1,358,269) | ||||
| Income/(Loss) Per Common Share: | ||||||||
| Basic* | $(0.81) | $0.18 | $(2.95) | $(4.01) | ||||
| Diluted* | (0.81) | 0.18 | (2.95) | (4.01) | ||||
| Weighted Average Number of Shares Outstanding: | ||||||||
| Basic* | 367,120 | 338,966 | 367,141 | 338,966 | ||||
| Diluted* | 367,120 | 338,966 | 367,141 | 338,966 | ||||
| Cash dividend per Series A Preferred Share: | $ | - | $ | - | $ | - | $ | - |
| Undeclared dividend per Series A Preferred Shares: | 0.48 | 0.48 | 1.45 | 1.45 | ||||
| * | On June 2, 2026, the Trust effected a 1 for 10 reverse stock split. All share and per-share amounts in these financial statements have been retroactively adjusted to reflect the reverse stock split for all periods presented. |
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POWER REIT AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
For the Three and Nine Months Ended September 30, 2026 and 2025
(Unaudited)
| Series A 7.75% Cumulative Redeemable Perpetual Preferred Stock Par Value $25.00 · Common Shares* · Additional Paid-in · Accumulated · Total Shareholders’ | |||||||
|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Capital | Deficit | Equity | |
| Balance at December 31, 2025 (as adjusted for reverse stock split) | 336,944 | $8,489,952 | 366,149 | $366 | $48,530,850 | $(51,883,745) | $5,137,423 |
| Net Loss | - | - | - | - | - | (893,272) | (893,272) |
| Issuance of Common Shares for Cash, Net of Stock Issuance Costs | - | - | 1,078 | 1 | 9,668 | - | 9,669 |
| Balance at March 31, 2026 | 336,944 | $8,489,952 | 367,227 | $367 | $48,540,518 | $(52,777,017) | $4,253,820 |
| Net Income | - | - | - | - | - | 435,548 | 435,548 |
| Cash Paid in Lieu of Fractional Shares | - | - | (107) | - | (883) | - | (883) |
| Balance at June 30, 2026 | 336,944 | $8,489,952 | 367,120 | $367 | $48,539,635 | $(52,341,469) | $4,688,485 |
| Net Loss | - | - | - | - | - | (135,713) | (135,713) |
| Balance at September 30, 2026 | 336,944 | $8,489,952 | 367,120 | $367 | $48,539,635 | $(52,477,182) | $4,552,772 |
| Balance at December 31, 2024 | 336,944 | $8,489,952 | 338,966 | $339 | $47,951,250 | $(49,688,663) | $6,752,878 |
| Net Loss | - | - | - | - | - | (1,413,112) | (1,413,112) |
| Stock-Based Compensation | - | - | - | - | 143,213 | - | 143,213 |
| Balance at March 31, 2025 | 336,944 | $8,489,952 | 338,966 | $339 | $48,094,463 | $(51,101,775) | $5,482,979 |
| Net Income | - | - | - | - | - | 320,913 | 320,913 |
| Stock-Based Compensation | - | - | - | - | 143,211 | - | 143,211 |
| Balance at June 30, 2025 | 336,944 | $8,489,952 | 338,966 | $339 | $48,237,674 | $(50,780,862) | $5,947,103 |
| Net Income | - | - | - | - | - | 223,551 | 223,551 |
| Stock-Based Compensation | - | - | - | - | 47,738 | - | 47,738 |
| Balance at September 30, 2025 | 336,944 | $8,489,952 | 338,966 | $339 | $48,285,412 | $(50,557,311) | $6,218,392 |
| * | On June 2, 2026, the Trust effected a 1 for 10 reverse stock split. All share and per-share amounts in these financial statements have been retroactively adjusted to reflect the reverse stock split for all periods presented. |
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