Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 58

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 58
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 otherwise required to register as an investment company, we might be required to revise some of our current policies,
or substantially restructure our business, to comply with the Investment Company Act. This would likely require us to incur the expense
and delay of holding a stockholder meeting to vote on proposals for such changes. Further, if we were required to register as an investment
company, but failed to do so, we would be prohibited from engaging in our business, criminal and civil actions could be brought against
us, some of our contracts might be unenforceable, unless a court were to direct enforcement, and a court could appoint a receiver to
take control of us and liquidate our business.

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Our internal control over financial reporting may not be effective, which could adversely affect our reputation, results of operations and stock price.

The accuracy of our financial
reporting depends on the effectiveness of our internal control over financial reporting. Internal control over financial reporting can
provide only reasonable assurance with respect to the preparation and fair presentation of financial statements and may not prevent or
detect misstatements because of its inherent limitations. These limitations include the possibility of human error, inadequacy or circumvention
of internal controls and fraud. If we do not attain and maintain effective internal control over financial reporting or implement controls
sufficient to provide reasonable assurance with respect to the preparation and fair presentation of our financial statements, we could
be unable to file accurate financial reports on a timely basis, and our reputation, results of operations and stock price could be materially
adversely affected.

We have limited sources of capital other than proceeds from future mortgage debt financings for acquisition and/or development projects, cash generated from operating activities, our $50 million revolving credit facility, the net proceeds of offerings of our securities, and the proceeds from our DST Program.

We have limited sources of
capital other than proceeds from future mortgage debt financings for acquisition and/or development projects, cash generated from operating
activities, our $50 million revolving credit facility, the net proceeds of offerings of our securities, and the proceeds from our program
to sponsor and raise capital through private placement offerings of Delaware statutory trusts (each, a “DST”) holding residential
properties (collectively, the “DST Program”) to meet our primary liquidity requirements. As a result, we may not be able
to pay our liabilities and obligations when they come due other than with the net proceeds of an offering. Depending on business conditions
at the time we