Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 1913

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 1913
---
 in Conduit's common stock and common stock warrants), held at a third party broker, presented on the balance sheet were measured at fair value using Level 1 market prices and totaled approximately zero and $45,149, respectively, with a cost basis of approximately zero and $40,315, respectively.  Our investments in Conduit's common stock and common stock warrants presented on the consolidated balance sheets were measured at fair value using Level 1 market prices, which are currently held at Conduit's transfer agent, taking into account the adoption of ASU 2022-03 Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, and totaled approximately $0.2 million as of December 31, 2024, with a cost basis of approximately $7.5 million.  The Company entered into a lock-up agreement with Conduit regarding the common stock held by the Company, for 180 days from the closing of the business combination which ended March 20, 2024.  There were no financial liabilities measured at fair value as of December 31, 2024 and December 31, 2023.

The following table presents as of December 31, 2024 the Company’s assets subject to measurement at fair value on a nonrecurring basis (in thousands):

      Fair Value Measurements as of December 31, 2024 

      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 

     -

     -

     266,000

     266,000

     185,000

      Certain Real Estate assets 

     -

     -

     18,065,871

     18,065,871

     1,784,311

      Total Assets 
      
     $
     -

     $
     -

     $
     19,454,871

     $
     19,454,871

     $
     1,969,311

The following table presents as of December 31, 2023 the Company’s assets subject to measurement at fair value on a nonrecurring basis (in thousands):