Company: GIPRW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046959
Chunk: 88

Company: GENERATION INCOME PROPERTIES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 88
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 accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standard. The decision by companies to “opt out” of the extended transition period for complying with new or revised accounting standards is irrevocable. We did not opt out of the JOBS Act extended accounting transition period. We intend to take advantage of any of the extended transition periods provided by the Financial Accounting Standards Board ("FASB") for complying with new or revised accounting standards.

To the extent we take advantage of the reduced disclosure requirements for EGCs, investors may be less likely to invest in us or may view our shares as a riskier investment than a similarly situated company that does not take advantage of these provisions.

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ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a smaller reporting company, we are not required to make disclosures under this item.

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

    Index to Consolidated Financial Statements
    Page

    Report of Independent Registered Public Accounting Firm (PCAOB ID: 596)
    50

    Report of Independent Registered Public Accounting Firm (PCAOB ID: 206)
    51

    Consolidated Balance Sheets as of December 31, 2024 and 2023
    52

    Consolidated Statements of Operations for the years ended December 31, 2024 and 2023
    53

    Consolidated Statements of Changes in Equity, Redeemable Preferred Stock, and Redeemable Non-Controlling Interests for the years ended December 31, 2024 and 2023
    54

    Consolidated Statements of Cash Flows for the years December 31, 2024 and 2023
    55

    Notes to the Consolidated Financial Statements
    58

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Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of 

Generation Income Properties, Inc.   

Opinion on the Financial Statements   We have audited the accompanying consolidated balance sheet of Generation Income Properties, Inc. and subsidiaries (the “Company”) as of December 31, 2024, and the related consolidated statements of operations, changes in equity, redeemed preferred stock, and redeemable non-controlling