Segment Reporting

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 11 – SEGMENT REPORTING

The Company operates in two operating and reportable segments which consist of (1) the operations, leasing and management of its leased commercial properties, herein known as the “Property Investment Portfolio” segment, and (2) advisory and brokerage services related to commercial properties, herein known as the “Real Estate Services” segment. The Company has determined that these reportable segments were strategic business units that offer different products. Currently, these reportable segments are being managed separately based on the fundamental differences in their operations.

The Company’s Property Investment Portfolio segment generates revenues from its operating leases with its tenants. Rental income is accounted for pursuant to ASC Topic 842 “Leases” and includes base rents that each tenant pays in accordance with the terms of its respective lease and is reported on a straight-line basis over the non-cancellable term of the lease, which includes the effects of rent abatements under the leases.

The Company’s Real Estate Services segment generates revenues which includes brokerage revenues consisting of real estate sales commissions and assignment fees, and revenues from advisory services for services performed pursuant to its consulting agreements with clients.

Corporate and unallocated amounts that do not relate to a reportable segment have been allocated to “Corporate & Unallocated.”

The Company’s CODM is its Chief Executive Officer. The decisions concerning the allocation of the Company’s resources are made by the CODM with oversight by the Board. The CODM evaluates the performance of each segment and makes decisions concerning the allocation of resources based upon segment operating profit (loss), generally defined as income or loss before interest expense and income taxes. The CODM assesses segment performance by using each segment’s operating income (loss) and considers budget-to-actual variances on a periodic basis (at least quarterly) when making decisions about operational planning, including whether to invest resources into the segments or into other parts of the Company. Segment assets are reviewed by the Company’s CODM and are disclosed below. The accounting policies of the Property Investment Portfolio segment and the Real Estate Services segment are the same as those described in Note 2 of the Notes to Consolidated Financial Statements.

Information with respect to these reportable business segments for the three months ended March 31, 2026 and 2025 was as follows:

Three Months Ended March 31, 2026

	Property Investment Portfolio			Real Estate Services			Corporate and Unallocated			Consolidated
Net revenues	$	755,730		$	416,706		$	-		$	1,172,436
Operating expenses (excluding depreciation and amortization)		241,864			552,947			177,222			972,033
Depreciation and amortization		73,138			-			697			73,835
Income (loss) from operations		440,728			(136,241	)		(177,919	)		126,568
Interest expense		(178,700	)		-			(31,883	)		(210,583	)
Other income		2,500			-			-			2,500
Income from derivative – interest rate swap		26,855			-			-			26,855
Income (loss) before provision for income taxes		291,383			(136,241	)		(209,802	)		(54,660	)
Provision for income taxes		-			-			-			-
Net income (loss)	$	291,383		$	(136,241	)	$	(209,802	)	$	(54,660	)

Three Months Ended March 31, 2025

	Property Investment Portfolio			Real Estate Services		Corporate and Unallocated			Consolidated
Net revenues	$	760,892		$	213,660	$	-		$	974,552
Operating expenses (excluding depreciation and amortization)		188,101			19,667		249,505			457,273
Depreciation and amortization		87,811			-		697			88,508
Income (loss) from operations		484,980			193,993		(250,202	)		428,771
Interest expense		(164,541	)		-		(30,000	)		(194,541	)
Other income		-			-		18			18
Loss from derivative – interest rate swap		(88,390	)		-		-			(88,390	)
Income (loss) before provision for income taxes		232,049			193,993		(280,184	)		145,858
Provision for income taxes		-			-		-			-
Net income (loss)	$	232,049		$	193,993	$	(280,184	)	$	145,858

Total assets by segment on March 31, 2026 and December 31, 2025 were as follows:

	March 31, 2026		December 31, 2025
Property investment portfolio	$	12,736,228	$	13,160,412
Real estate services		390,037		50,262
Corporate and unallocated		2,333,215		721,802
	$	15,459,480	$	13,932,476

All assets are located in the United States.