Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 1914

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 1914
---
 Fair Value Measurements as of December 31, 2023 

      Level 1 

      Level 2 

      Level 3 

      Total 

      Impairment Loss 

      Assets: 

      Goodwill for Dubose Model Homes 
      
     $
     -

     $
     -

     $
     1,123,000

     $
     1,123,000

     $
     -

      Goodwill for NTR Property Management 

     -

     -

     451,000

     451,000

     849,000

      Certain Real Estate assets 

     -

     -

     12,503,176

     12,503,176

     2,398,097

      Total Assets 
      
     $
     -

     $
     -

     $
     14,077,176

     $
     14,077,176

     $
     3,247,097

Additionally, when determining the fair value of a liability in circumstances in which a quoted price in an active market for an identical liability is not available, we measure fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach.  Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument.

      55

RESULTS FROM OPERATIONS FOR THE YEARS ENDED December 31, 2024 AND 2023

Our results from operations for 2024 and 2023 are not indicative of those expected in future periods as we expect that rental income, interest expense, rental operating expense, general and administrative expenses, and depreciation and amortization will significantly change in future periods as a result of the assets sold over the last two years.

Revenues.  Total revenue was approximately  $18.9 million for the year ended December 31, 2024, compared to approximately $17.6 million for the same period in 2023, an increase of approximately $1.3 million or 7.3%. As of December 31, 2024, we had approximately  $