Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 47

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 47
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 to Consolidated Financial Statements

FINANCIAL STATEMENTS:PAGEReports of Independent Registered Public Accounting Firm (PCAOB ID: 248)F-2Consolidated Balance SheetsF-5Consolidated Statements of OperationsF-6Consolidated Statements of Comprehensive Loss F-7Consolidated Statements of Changes in Stockholders' EquityF-8Consolidated Statements of Cash FlowsF-10Notes to Consolidated Financial StatementsF-12Note 1. OrganizationF-13Note 2. Summary of Significant Accounting PoliciesF-14Note 3. Residential Loans, at Fair ValueF-25Note 4. Investment Securities Available For Sale, at Fair ValueF-27Note 5. Multi-family Loans, at Fair ValueF-30Note 6. Equity Investments, at Fair ValueF-31Note 7. Use of Special Purpose Entities (SPE) and Variable Interest Entities (VIE)F-35Note 8. Real Estate, NetF-43Note 9. Assets and Liabilities of Disposal Group Held for SaleF-46Note 10. Derivative InstrumentsF-48Note 11. Mortgage Servicing RightsF-53Note 12. Other Assets and Other LiabilitiesF-54Note 13. Repurchase AgreementsF-55Note 14. Collateralized Debt ObligationsF-58Note 15. DebtF-60Note 16. Commitments and ContingenciesF-64Note 17. Fair Value of Financial InstrumentsF-65Note 18. Stockholders' EquityF-76Note 19. Loss Per Common ShareF-81Note 20. Stock Based CompensationF-82Note 21. Income TaxesF-86Note 22. Net Interest IncomeF-88Note 23. Other IncomeF-89Note 24. Segment ReportingF-90Note 25. Subsequent EventsF-91Schedule III - Real Estate and Accumulated DepreciationF-92Schedule IV - Mortgage Loans on Real EstateF-95

F-1

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors and Stockholders

New York Mortgage Trust, Inc.

Opinion on the financial statements

We have audited the accompanying consolidated balance sheets of New York Mortgage Trust, Inc. (a Maryland corporation) and subsidiaries (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of operations, comprehensive loss, changes