Company: DREM
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022261
Chunk: 9

Company: Dream Homes & Development Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 9
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 the property should occur in 2027, with site improvements to begin shortly thereafter. The sale of improved
building pads should begin in late 2027.

Gloucester
County: The Company has signed a letter of intent and contract to obtain approvals, acquire and improve a 70 unit property in Gloucester
County. This property will be developed as a manufactured home community.

Summary

These
new developments which the Company owns or is in contract to purchase represent significant future earnings in new construction or forward
contracts for improved building pads that have been pre-sold. This work will occur over the next 3-4 years and will occur in addition
to the custom homes & elevation/renovation division of the business. Management is very positive about these new developments.

4-
Inventories

Inventories
are summarized as follows:

 Schedule
of Inventories

    September 30, 2025  
    December 31, 2024 

    Berkeley Terrace 
     899,911  
     2,664,839 
  
    Lacey Pines 
     4,306,355  
     4,411,163 
  
    Others 
     254,675  
     289,974 
  
    Total 
    $5,460,941  
    $7,365,976 
  
    Inventories 
    $5,460,941  
    $7,365,976 

    F-11

5.
Mortgages on Properties Held for Development:

 Schedule
Mortgages on Properties Held for Development

    September 30, 
2025  
    December 31, 
2024 
  
    ABL RPC Residential Credit Acquisition, LLC 
    $1,229,100  
    $- 
  
    Lynx Asset Services, LLC 
     -  
     750,000 
  
    Anchor Loans, LP 
     1,011,799  
     2,555,422 
  
    AC Development, LLC 
     326,479  
     326,479 
  
    AVB Development 
     323,537  
     323,537 
  
    Total mortgages payable 
     2,890,915  
     3,955,438 
  
    Less current portion 
     -  
     1,012,538 
  
    Less unamortized discount 
     243,436