Company: SQFTP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016828
Chunk: 35

Company: Presidio Property Trust, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 35
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’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended  December 31, 2024, included in the Company’s 2024 year end Annual Report.
    
   Basis of Presentation. The accompanying consolidated financial statements have been prepared by the Company's management in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and the instructions to Form 10-Q and Article 8 of Regulation S-X. Certain information and footnote disclosures required for annual consolidated financial statements have been excluded pursuant to rules and regulations of the SEC. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments of a normal and recurring nature that are considered necessary for a fair presentation of our financial position as of  March 31, 2025, and  December 31, 2024, as well as results of our operations, and cash flows as of, and for the three months ended  March 31, 2025 and 2024, respectively. However, the results of operations for the interim periods are not necessarily indicative of the results that  may be expected for the year ending  December 31, 2025, due to real estate market fluctuations, available mortgage lending rates and other unknown factors. These consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the 2024 year end Annual Report. The consolidated balance sheet as of  December 31, 2024 has been derived from the audited consolidated financial statements included in the 2024 year end Annual Report. 

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   Principles of Consolidation. The accompanying consolidated financial statements include the accounts of Presidio Property Trust, Inc. and its subsidiaries, NetREIT Advisors, LLC and Dubose Advisors LLC (collectively, the “Advisors”), and NetREIT Dubose Model Home REIT, Inc. The consolidated financial statements also include the results of the NetREIT Partnerships and the Model Home Partnerships.  As used herein, references to the “Company” include references to Presidio Property Trust, Inc., its subsidiaries, and the partnerships. All significant intercompany balances and transactions have been eliminated in consolidation.
    
   The Company classifies the noncontrolling interests in the Net