GIPRW — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-15

• From inception through March 31, 2026, we have distributed $5,031,548 to common stockholders.

• As previously reported, on August 20, 2025, the Listing Qualifications department (the “Staff”) of The Nasdaq Stock Market

• LLC (“Nasdaq”) notified the Company that it was not in compliance with Nasdaq Listing Rule 5550(b)(1) (the “Equity Requirement”), which requires companies listed on The Nasdaq Capital Market to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing or meet the alternative com…

• Brown Family Enterprises — Note Restructuring and LLC Interest Transfer

• On April 25, 2025, the Company, through its Operating Partnership, entered into a Secured Promissory Note with Brown Family Enterprises, LLC ("Brown"), a related party, in the original principal amount of $1,000,000. The note bore simple interest at an initial rate of 16% per annum for the first nin…

Text removed vs the prior filing · source: 10-Q · 2025-11-14

• Two tenants occupy this single property. New lease executed for the vacant unit, effective May 1, 2024.

• From inception through September 30, 2025, we have distributed $5,024,622 to common stockholders.

• On April 25, 2025, Generation Income Properties, Inc. (the “Company”), through its operating partnership Generation Income Properties L.P. (the “Operating Partnership”), entered into a loan transaction for a $1.0 million loan that is evidenced by a secured non-convertible promissory note (the "Promi…

• days from the date of the Promissory Note (the “Initial Payment Date”). Thereafter, the Promissory Note bears a fixed interest rate of 9%, simple interest, and interest is payable monthly after the initial 90 days, with all remaining principal and accrued but unpaid interest being due on the 180th d…

• On October 27, 2025, the Company entered into a First Amendment to the Secured Promissory Note originally issued on April 25, 2025 to Brown Family Enterprises, LLC in the principal amount of $1.0 million. The First Amendment extends the Note’s maturity date to December 15, 2025 and provides for a $2…

Text added vs the prior filing · source: 10-Q · 2026-05-15

• CEO and Principal Financial Officer, concluded that our disclosure controls and procedures were effective as of March 31, 2026.

• There were changes in our internal control over financial reporting during the quarter ended March 31, 2026, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting, including the remediation of the previously identified material we…

• Management has completed the remediation of the material weakness relating to (1) the correct Independent Registered Public Accounting Firm audit report was filed with the Form 10-K and (2) that the going concern disclosures in the consolidated financial statements fully complied with accounting pri…

• Increased senior management's direction and review of the 10-K or such other report reporting process to ensure compliance with existing Company internal controls;

• Based on these actions and the results of testing, management concluded that the material weakness has been remediated as of March 31, 2026.

Text removed vs the prior filing · source: 10-Q · 2025-11-14

• There were no changes in our internal control over financial reporting that occurred during the three months ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-05-15

• From time to time, we may be party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of our business. We are not currently subject to any lawsuits, claims or other legal proceedings, except as described below.

• On or around March 27, 2026, the Company’s operating partnership (Generation Income Properties, L.P.) and David Sobelman, the Company’s President and CEO, were sued in Alabama Circuit Court by Chase Commercial Realty, Inc. in a collection action under a promissory note issued by the operating partne…

Text removed vs the prior filing · source: 10-Q · 2025-11-14

• There are no material legal proceedings that are required to be disclosed in Part I, Item 1 of this Quarterly Report on Form 10-Q.