Company: DREM
Filing Date: 2025-08-27
Form Type: 10-Q
Source: 0001641172-25-025675
Chunk: 23

Company: Dream Homes & Development Corp.
Filing Date: 2025-08-27
Form: 10-Q
Item: Item 2
Chunk 23
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 taxes 
     468,975  
     (743,847)
  
    Provision for income taxes 
     (130,213) 
     - 

    Net income (loss) 
    $338,762  
    $(743,847)

Revenues

For
the three months ended June 30, 2025 and 2024, revenues were $1,852,953 and $657,714, respectively.

The
increase in revenue was due to ongoing property development.

Cost
of Sales

For
the three months ended June 30, 2025 and 2024, cost of construction contracts were $1,091,221 and $1,139,498, respectively. The increase
is due to the sale of property held for development, and its associated cost in 2025.

Operating
Expenses

Operating
expenses increased $14,067 from $193,693 in 2024 to $207,760 in 2025.

5

STATEMENTS
OF OPERATIONS

For
the six months ended June 30, 2025 and 2024

(Unaudited)

    2025  
    2024 
  
    Revenue: 

    Construction contracts 
    $3,964,264  
    $2,131,449 

    Cost of construction contracts 
     2,724,485  
     2,379,818 

    Gross profit 
     1,240,139  
     (248,369)

    Operating Expenses: 

    Selling, general and administrative, including stock based compensation of $25,300 and $0, respectively 
     447,535  
     525,410 
  
    Depreciation expense 
     11,579  
     - 

    Total operating expenses 
     459,114  
     525,410 

    Income (loss) from operations 
     781,025  
     (773,779)

    Other income (expenses): 

    Interest expense 
     (19,347) 
     (87,420)
  
    Loss on debt settlement 
     (87,720) 
     - 
  
    Other income (expense) 
     41,666  
     - 
  
    Total other income (expenses) 
     (65,401) 
     (87,420)

    Net income (