Company: SQFTP
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026786
Chunk: 172

Company: Presidio Property Trust, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 172
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2025 and 2024, which totaled approximately $65,212 and $75,715, respectively. These reimbursements were at cost and were not marked up or discounted. As of  June 30, 2025 and  December 31, 2024, we had reimbursement receivable balances of approximately $1,104 and $12,376 which were paid in full during  July 2025 and  January 2024, respectively.
    
   During the six months ended  June 30, 2024, the Company used the services of a former officer and director, Larry Dubose, for consulting on our Model Home Partnerships, and the setup of Dubose Model Home Investors #207. The Company paid Mr. Dubose a total of $153,750 in consulting payments for the six months ended  June 30, 2024.  Additionally, a trust controlled by Mr. Dubose is an investor in many of our Model Home Partnerships, and as such received pro-rata distributions and return of capital payments during the six months ended  June 30, 2024, totaling $86,520. During the six months ended  June 30, 2025, the Company paid Mr. Dubose $25,000 in consulting fees and $7,599 in pro-rata distributions and return of capital payments.  Mr. Dubose is the father-in-law of Steve Hightower, the President of our Model Home Division and a director.
    
   For the fiscal year ended  December 31, 2024, the Company paid to Mr. Dubose, inclusive of the payments made in the quarter ended  March 31, 2024 described above, $191,250.  Through his ownership of a trust that is an investor in many of our Model Home Partnerships, Mr. Dubose received pro-rata distributions and return of capital payments of $101,889 during the year ended  December 31, 2024, inclusive of pro-rata distributions and return of capital payments received in the six months ended  June 30, 2024 described above.  

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   16. SUBSEQUENT EVENTS
    
   The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date the financial statements were issued. Based upon this review, except as disclosed below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the