Company: GIPRW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046959
Chunk: 100

Company: GENERATION INCOME PROPERTIES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 100
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 cash
           
          34,500

          34,500

          Cash and cash equivalents and restricted cash
          $
          647,439

          $
          3,151,946

        Deferred Financing Costs During the years ended December 31, 2024 and 2023, the Company expensed $0 of stock issuance costs. The Company amortized debt issuance costs to interest expense during the twelve months ended December 31, 2024 and 2023 of $202,621 and $146,745, respectively. The Company paid debt issuance costs for the twelve months ended December 31, 2024 and 2023 of $28,903 and $371,959, respectively. Revenue Recognition  The Company leases real estate to its tenants under long-term net leases which the Company accounts for as operating leases. Those leases that have fixed and determinable rent increases are recognized on a straight-line basis over the lease term. In addition to straight-line rents, deferred rent liability includes prepaid rent of the following: 

          As of December 31,

          As of December 31,

          2024

          2023

          Prepaid Rent
          $
          196,442

          $
          280,332

         The Company reviews the collectability of charges under its tenant operating leases on a regular basis, taking into consideration changes in factors such as the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located. In the event that collectability exists with respect to any tenant changes, the Company would recognize an adjustment to rental income. The Company’s review of collectability of charges under its operating leases includes any accrued rental revenues related to the straight-line rents. There were no allowances for tenant receivables recorded during the twelve months ended December 31, 2024 and 2023.The Company’s leases provide for reimbursement from tenants for common area maintenance (“CAM”), insurance, real estate taxes and other operating expenses. A portion of our operating cost reimbursement revenue is estimated each period and is recognized as rental income in the period the recoverable costs are incurred and accrued. The Company often recognizes above- and below-market lease intangibles in connection with acquisitions of real estate. The capitalized above- and below-market lease intangibles are amortized over the remaining term of the related leases. 

 59

Stock-Based Compensation The Company records all equity-based