Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 374

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 374
---
, revenue and expenses and related disclosures. We review our estimates
and judgments on an on-going basis. We base our estimates and judgments on historical experience and on various other assumptions that
we believe to be reasonable under the circumstances. Actual results may differ from these estimates. We believe the following accounting
policies are critical to the judgments and estimates we use in preparing our financial statements.

19

Net
Income (Loss) Per Common Share

Basic
net income (Basic net loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares
outstanding during the period.

Diluted
net income (loss) per common share is computed using the weighted average number of common shares outstanding and potentially dilutive
securities outstanding during the period (none for the periods presented).

RESULTS
OF OPERATIONS – DREAM HOMES & DEVELOPMENT CORPORATION

The
summary of selected financial data table is below.

DREAM
HOMES & DEVELOPMENT CORPORATION

STATEMENTS
OF OPERATIONS

    Year ended December 31, 2024  
    Year ended December 31, 2023 

    Revenue: 

    Construction contracts 
    $4,972,827  
    $5,656,452 

    Cost of construction contracts 
     2,709,889  
     4,570,902 

    Gross profit 
     2,262,938  
     1,085,550 

    Operating Expenses: 

    Selling, general and administrative, including stock based compensation of $0 and $91,800, respectively 
     759,720  
     1,010,531 
  
    Depreciation expense 
     3,300  
     6,216 

    Total operating expenses 
     763,020  
     1,016,747 

    Income from operations 
     1,499,918  
     68,803 

    Other income (expenses): 

    Loan forgiveness 
     (300,504) 
     - 
  
    Interest expense 
     (82,375) 
     (166,182)
  
    Other income 
     103,047  
     - 
  
    Total other income (expenses) 
     (279,832) 
     (166,182)

    Income (loss) before income taxes 
     1,220