Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 547

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 15
Chunk 547
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 to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.
 
/s/ Baker Tilly US, LLP
 
Irvine, California
 
April 15, 2024 (March 31, 2025, as to the effects of the adoption of ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, described in Note 2)
 
We began serving as the Company's auditor in 2009. In 2024 we became the predecessor auditor.

      F-3

Presidio Property Trust, Inc. and Subsidiaries

Consolidated Balance Sheets

      December 31,    December 31,  
   2024    2023  
         
 ASSETS         
 Real estate assets and lease intangibles:         
 Land  $15,983,323  $21,660,644 
 Buildings and improvements   102,862,977   133,829,416 
 Tenant improvements   16,488,066   17,820,948 
 Lease intangibles   3,776,654   4,110,139 
 Real estate assets and lease intangibles held for investment, cost   139,111,020   177,421,147 
 Accumulated depreciation and amortization   (33,700,262)  (38,725,356)
 Real estate assets and lease intangibles held for investment, net   105,410,758   138,695,791 
 Real estate assets held for sale, net   22,185,742   5,459,993 
 Real estate assets, net   127,596,500   144,155,784 
 Other assets:         
 Cash, cash equivalents and restricted cash   8,036,496   6,510,428 
 Deferred leasing costs, net   1,666,135   1,657,055 
 Goodwill   1,389,000   1,574,000 
 Investment in Conduit Pharmaceuticals marketable securities