Organization and Nature of Operations

6 Months Ended

Jun. 30, 2020

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.

In March 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. The Company is monitoring this closely, and although operations have not been materially affected by the COVID-19 outbreak to date, the ultimate duration and severity of the outbreak and its impact on the economic environment and our business is uncertain. As of August 13, 2020, all of the properties in the Company's portfolio are open to its Significant Tenants and their customers and will remain open pursuant to state and local government requirements. At this time, the Company does not foresee any material changes to its operations from COVID-19. The Company's tenants are continuing to generate revenue at these properties and they have continued to make rental payments in full and on time and we believe the tenants' liquidity position is sufficient to cover its expected rental obligations. Accordingly, while the Company does not anticipate an impact on its operations, it cannot estimate the duration of the pandemic and potential impact on its business if the properties must close or if the tenants are otherwise unable or unwilling to make rental payments. In addition, a severe or prolonged economic downturn could result in a variety of risks to the Company's business, including weakened demand for its properties and a decreased ability to raise additional capital when needed on acceptable terms, if at all. At this time, the Company is unable to estimate the impact of this event on its operations.