Equity (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Investor Warrants Issued Exerxisable On A Cashless Basis

Investor Warrants issued on September 8 and 30, 2021 became exercisable on a cashless basis on January 6 and 28, 2022, respectively.

	As of September 30,
Issue Date	2024
April 25, 2019 at an exercise price of $20.00		50,000
November 13, 2020 at an exercise price of $20.00		50,000
September 8, 2021 at an exercise price of $10.00		404,510
September 8, 2021 at an exercise price of $12.50		135,000
September 30, 2021 at an exercise price of $10.00		165,000
September 30, 2021 at an exercise price of $12.50		14,850
		819,360

Schedule of Stockholders Equity

	Warrants			Weighted Average Price		Weighted Average Remaining Life
As of December 31, 2023		898,200		$	11.53		2.7
Exercised		(78,840	)		10.00
As of September 30, 2024		819,360		$	11.61		2.5
Warrants exercisable		819,360		$	11.61		2.5
	Warrants			Weighted Average Price		Weighted Average Remaining Life
As of December 31, 2022		1,102,900		$	11.25		3.7
Exercised		(189,950	)		10.00
As of September 30, 2023		912,950		$	11.51		3.0
Warrants exercisable		912,950		$	11.51		3.0

There was no intrinsic value for the warrants as of September 30, 2024 or 2023.

Stock Compensation

Generation Income Properties, Inc. 2020 Omnibus Incentive Plan

In connection with the Public Offering, the Company's Board of Directors adopted and stockholders approved, the Generation Income Properties, Inc. 2020 Omnibus Incentive Plan (the “Omnibus Incentive Plan”), which became effective upon the completion of the Public Offering. The Omnibus Incentive Plan reserves 2.0 million shares of common stock for stock options, stock appreciation rights, performance shares, performance units, shares of common stock, restricted stock, restricted stock units, cash incentive awards, dividend equivalent units, or any other type of award permitted under the Omnibus Incentive Plan. As of September 30, 2024, 158,840 shares had been granted under the Omnibus Incentive Plan.

Restricted Common Shares issued to the Board and Employees

The following is a summary of restricted shares for the nine months ended September 30, 2024 and 2023:

	2024			2023
Number of Shares Outstanding at beginning of period		91,516			58,502
Restricted Shares Issued		-			98,593
Restricted Shares Vested		(43,364	)		(46,213	)
Number of Shares Outstanding at end of period		48,152			110,882

On June 15, 2024, the Company issued restricted stock units with respect to an aggregate of 61,275 shares of common stock to non-employee directors of the Company, excluding the Chairman of the Board, David Sobelman.

The Company recorded stock based compensation expense of $94,934 and $119,380 and $284,805 and $287,067 during the three and nine months ended September 30, 2024 and 2023, respectively.

Cash Distributions

While the Company is under no obligation to do so, the Company has historically declared and paid distributions to its common stockholders and Operating Partnership unit holders, provided that On July 3, 2024, the Company announced that its Board of Directors determined to suspend the Company’s regular dividend, commencing with the monthly dividends that would have been paid in July 2024.

The issuance of future distributions will be determined by the Company's board of directors based on the Company's financial condition and such other factors as the Company's board of directors deems relevant. The Company has not established a minimum distribution, and the Company's charter does not require that the Company issue distributions to its stockholders other than as necessary to meet REIT qualification standards.

The following is a summary of monthly distributions to common stockholders and Operating Partnership unit holders:

Schedule of Restricted Common Shares Issued

The following is a summary of restricted shares for the nine months ended September 30, 2024 and 2023:

	2024			2023
Number of Shares Outstanding at beginning of period		91,516			58,502
Restricted Shares Issued		-			98,593
Restricted Shares Vested		(43,364	)		(46,213	)
Number of Shares Outstanding at end of period		48,152			110,882

Schedule of Cash Distributions

The following is a summary of monthly distributions to common stockholders and Operating Partnership unit holders:

Authorized Date	Record Date	Per Share/Unit
June 3, 2024	June 15, 2024	$	0.039
May 3, 2024	May 15, 2024	$	0.039
April 4, 2024	April 15, 2024	$	0.039
January 3, 2024	March 15, 2024	$	0.039
January 3, 2024	February 14, 2024	$	0.039
January 3, 2024	January 15, 2024	$	0.039
October 3, 2023	December 15, 2023	$	0.039
October 3, 2023	November 15, 2023	$	0.039
October 3, 2023	October 15, 2023	$	0.039
July 3, 2023	September 15, 2023	$	0.039
July 3, 2023	August 15, 2023	$	0.039
July 3, 2023	July 15, 2023	$	0.039
April 3, 2023	June 15, 2023	$	0.039
April 3, 2023	May 15, 2023	$	0.039
April 3, 2023	April 15, 2023	$	0.039
January 3, 2023	March 15, 2023	$	0.039