Company: GIPRW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046959
Chunk: 97

Company: GENERATION INCOME PROPERTIES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 97
---
1,159,481
    )
     
    (1,216,280
    )

    Net cash provided by financing activities

    2,246,453

    32,701,579

    Net (decrease) increase in cash and cash equivalents

    (2,504,507
    )
     
    (601,050
    )

    Cash and cash equivalents and restricted cash - beginning of period

    3,151,946

    3,752,996

    Cash and cash equivalents and restricted cash - end of period
     
    $
    647,439
     
    $
    3,151,946

    CASH TRANSACTIONS

    Interest paid
     
    $
    4,002,922
     
    $
    2,445,585

    NON-CASH TRANSACTIONS

    Accrual of preferred stock dividend

    -

    95,000

    Assumption of loan in connection with purchase of remaining tenancy-in-common interest
     
    $
    -

    1,695,573

    Conversion of Preferred Stock into Common Stock
     
    $
    11,637,616
     
    $
    -

    Stock issued for cashless exercise of Investor Warrants
     
    $
    79
     
    $
    205

    Deferred distribution on redeemable non-controlling interests

    2,805,204
     
    $
    501,991

    Gain on change in fair value of derivative instrument
     
    $
    -
     
    $
    -

 56

    Issuance of Preferred Stock for Modiv acquisition
     
    $
    -
     
    $
    12,000,000

The accompanying notes are an integral part of these consolidated financial statements.

 57

GENERATION INCOME PROPERTIES, INC. 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 1 – Nature of Operations Generation Income Properties, Inc. (the “Company”) was formed as a Maryland corporation in September 2015. The Company is an internally managed real estate investment company focused on acquiring and managing income-producing retail, office and industrial properties net leased to high quality tenants in major markets throughout the United States. The Company formed Generation Income Properties L.P. (the “Operating Partnership”) in October 2015. Substantially all of the Company’s assets are held by, and