SCOTTSDALE, Arizona–(BUSINESS THREAD)–Under the heading Financial Results for Six Months and Second Quarter Ended June 30, 2022, the fourth item should read: Compared to $550,064 for the second quarter ended June 30, 2021 (instead of $445,479 for the second quarter ended June 30, 2021)
The updated version says:
ZONED PROPERTIES REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2022
Revenue growth of 60% year-over-year for the six months ended June 30, 2022
New $4.5 million line of credit creates purchasing power for new property acquisitions and portfolio expansion
Zoned Properties®, Inc. (“Zoned Properties” or the “Company”) (OTCQB: ZDPY), a leading developer of real estate for emerging and highly regulated industries, including legalized cannabis, today announced its financial results for the second quarter ended . June 30, 2022.
“The Zoned Properties team has positioned the company for national scale and growth, and we continue to execute our full spectrum of real estate services for both independent clients and our own development projects. We are focused on investing in growth and diversity of our top-line revenue while maintaining positive cash flow from operations, and we view these metrics as some of the most important financial indicators for investors and shareholders to track,” commented Bryan McLaren, CEO. Zoned Properties Officer.
“We believe we have developed the right business mix of real estate services to effectively scale zoned properties alongside the needs of our target industries, primarily the regulated cannabis industry. Our full spectrum of real estate services has been intentionally positioned and designed to fuel a strong portfolio of acquisition targets for our investment portfolio. Now we need to execute on the scaling of our active real estate services for the domestic market and also the purchasing power to expand our investment portfolio” .
Financial results six months and second quarter ended June 30, 2022
Revenue was $1,437,353 for the six months ended June 30, 2022, compared to $895,909 for the six months ended June 30, 2021, an increase of 60.4%. Operating expenses were $1,437,039 for the six months ended June 30, 2022, compared to $799,624 for the six months ended June 30, 2021, an increase of 79.7%. The company reported a net loss of $64,759 for the six months ended June 30, 2022, compared to net income of $41,259 for the six months ended June 30, 2021. Revenue was $498,652 for in the second quarter ended June 30, 2022, compared to $550,064 for the second quarter ended June 30, 2021, a decrease of 9.3%. Operating expenses were $507,856 for the second quarter ended June 30, 2022, compared to $410,411 for the second quarter ended June 30, 2021, an increase of 23.7%. The company reported a net loss of $39,063 for the second quarter ended June 30, 2022, compared to net income of $112,594 for the second quarter ended June 30, 2021. The company had cash of $891,244 at June 30, 2022, compared to $1,191,940 at December 31, 2021, primarily reflecting a $500,000 investment in tenant improvements related to the Company’s Chino Valley cultivation facility and an investment of $50,000 in equity securities related to the Company’s AnamiTech investment. The company reported net cash provided by operating activities of $270,968 for the six months ended June 30, 2022.
Management discussion and company highlights
Zoned Properties has developed a full spectrum of integrated growth services to support its commercial real estate development model; The Company’s real estate technology (“PropTech”), advisory services, commercial brokerage and investment portfolio are collectively intersected within the model to drive project value associated with complex real estate projects. Property technology for zoned properties: PropTech platforms have the opportunity to bring service and data solutions to complex markets on a national scale. Zoned Properties is in the process of investing, partnering and securing several real estate technology platforms to establish a robust technology stack to serve the regulated cannabis industry and support the company’s full spectrum of real estate services. In April 2022, the company’s project team released the Rezone Beta platform to the market. Rezone will focus on democratizing commercial real estate intelligence, developing the capabilities to provide hundreds of thousands of service professionals, business operators and real estate investors with GIS mapping data and information. In July 2022, the company invested in another PropTech company, AnamiTech, alongside the launch of its flagship PropTech platform, GreenSpace Pro. AnamiTech has focused its PropTech platform on project management tools and solutions for cannabis operators, regulators and project teams. We expect our real estate technology division to create efficient and effective avenues for the national scale of our real estate services and investment opportunities. Zoned Property Advisory Services: The company continues to expand its advisory services team and client base in new state markets across the country, strengthening Zoned Property’s network specializing in commercial real estate solutions for industry regulated cannabis. We expect our advisory services division to continue to engage with a wide range of multi-state operators (MSOs), social equity operators (SEOs) and real estate operators; strengthening our client list as we expand nationally into existing and new state markets. Commercial Brokerage of Zoned Properties – We launched our in-house licensed brokerage in June 2021. In its first year of operations, the brokerage team has built brokerage partnerships and served clients across the country, closing more of $50 million in real estate transactions with nearly revenue. $1 million in commission income. Our brokerage team is committed to listing projects representing over 1.5 million square feet of commercial real estate for cannabis dispensary, cultivation, processing and warehouse facilities nationwide. We expect our commercial brokerage division to execute on its national growth strategy to establish zoned property brokerage associations or brokerage offices in several new state markets creating access to serve the national cannabis market. Zoned Properties Investment Portfolio: Zoned Properties owns properties within its investment portfolio that are leased to regulated cannabis operators. As of June 2022, the company’s stabilized real estate portfolio produces $1.83 million annually in triple net passive rental income and is expected to generate more than $30 million in cash flows over the life of its contracts of lease contracted. In July 2022, the Company secured a $4.5 million senior debt facility that created purchasing power for further property acquisitions to expand our investment portfolio. It will be increasingly important for the Company to focus on increasing access to capital and purchasing power to align with our strong pipeline of acquisition and investment opportunities. We expect our Investment Portfolio to grow in line with our purchasing power over the coming months and quarters as the Zoned Properties team moves forward with prospective acquisition deals for both tenant-stabilized properties and pre-operational development projects. The Company believes that a balance between debt and equity in purchasing power, as well as stabilized properties and development projects in acquisition orientation will create the most appropriate risk-reward profile for Zoned Properties and its shareholders .
About Zoned Properties, Inc. (OTCQB: ZDPY):
Zoned Properties is a leading real estate developer for emerging and highly regulated industries, including regulated cannabis. The company is redefining the approach to commercial real estate investing through its integrated growth services.
Based in Scottsdale, Arizona, Zoned Properties has developed a full spectrum of integrated growth services to support its real estate development model; The company’s real estate technology, advisory services, commercial brokerage and investment portfolio intersect collectively within the model to drive project value associated with complex real estate projects. With national experience and a team of experts dedicated to the emerging cannabis industry, Zoned Properties is addressing the specific needs of a modern market in highly regulated industries.
Zoned Properties is an accredited member of the Better Business Bureau, the US Green Building Council and the Forbes Business Council. Zoned Properties does not grow, harvest, sell, or distribute cannabis or any substance regulated under United States law, including the Controlled Substances Act of 1970, as amended (the “CSA”). Zoned Properties’ corporate headquarters are located at 8360 E. Raintree Dr., Suite 230, Scottsdale, Arizona. For more information, call 877-360-8839 or visit www.ZonedProperties.com.
Twitter: @ZonedProperties
LinkedIn: @ZonedProperties
Safe harbor declaration
This press release contains forward-looking statements. All statements other than statements of historical fact included in this press release are forward-looking statements. In some cases, forward-looking statements may be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. These forward-looking statements involve risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the company’s filings with the Securities and Exchange Commission. Investors should not place undue reliance on forward-looking statements, as they involve uncertainties and other known and unknown factors that are, in some cases, beyond the Company’s control that could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statements reflect the company’s current views regarding future events and are subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The company undertakes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons why actual results could differ materially from those anticipated in these forward-looking statements, even if there is a new information available in the future.
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