Organization and Nature of Operations

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION AND NATURE OF OPERATIONS

NOTE 1 – ORGANIZATION AND NATURE OF OPERATIONS

Organization

Zoned Properties, Inc. ("Zoned Properties" or the "Company"), was incorporated in the State of Nevada on August 25, 2003. The Company is a strategic real estate development firm whose primary mission is to provide real estate and sustainability services for clients in the regulated cannabis industry, positioning the company for real estate acquisitions and revenue growth. The Company intends to pioneer sustainable development for emerging industries, including the regulated cannabis industry. The Company is an accredited member of the Better Business Bureau, the U.S. Green Building Council, and the Forbes Real Estate Council. The Company focuses on investing capital to acquire and develop commercial properties to be leased on a triple-net basis, and engaging clients that face zoning, permitting, development, and operational challenges. The Company provides development strategies and advisory services that could potentially have a major impact on cash flow and property value. The Company does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substance Act of 1970, as amended (the "CSA").

The Company has the following wholly owned subsidiaries:

● Gilbert Property Management, LLC ("Gilbert") was organized in the State of Arizona on February 10, 2014.

● Chino Valley Properties, LLC ("Chino Valley") was organized in the State of Arizona on April 15, 2014.

● Kingman Property Group, LLC ("Kingman") was organized in the State of Arizona on April 15, 2014.

● Green Valley Group, LLC ("Green Valley") organized in the State of Arizona on April 15, 2014.

● Zoned Oregon Properties, LLC was organized in the State of Oregon on June 16, 2015.

● Zoned Colorado Properties, LLC ("Zoned Colorado") was organized in the State of Colorado on September 17, 2015.

● Zoned Illinois Properties, LLC was organized in the State of Illinois on July 15, 2015.

● Zoned Arizona Properties, LLC ("Zoned Arizona") was organized in the State of Arizona on June 2, 2017.

● Zoned Advisory Services, LLC ("Zoned Advisory") was organized in the State of Arizona on July 27, 2018.

Effective January 1, 2019, the Company and certain beneficial shareholders of the Company entered into a Stock Redemption Agreement (the "Stock Redemption Agreement"). Pursuant to the terms of the Stock Redemption Agreement, the parties agreed that the Company would redeem an aggregate of 5,640,004 shares of common stock owned by such beneficial shareholders (See Note 8). In exchange for the Stock Redemption, in addition to other terms, the parties amended the May 1, 2018 leases to reduce the gross revenue fee payable by related party tenants from 10% of gross revenue to 0% of gross revenue (See Note 3).