Zoned Properties, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
May 13, 2021 at 04:18 pm EDT
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Zoned Properties, Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced total revenue was USD 345,845 compared to USD 303,869 a year ago. Operating loss was USD 43,368 compared to USD 66,702 a year ago. Net loss was USD 71,335 compared to USD 96,770 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
Zoned Properties, Inc. is a technology-driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States. The Company is in the business of property acquisition, development, and commercial leasing and intends to primarily structure lease agreements with prospective tenants using a triple-net or absolute-net lease model. Its segments include Property Investment Portfolio and Real Estate Services. The Property Investment Portfolio segment is engaged in the operations, leasing and management of its commercial properties. The Real Estate Services segment provides advisory, brokerage and technology services related to commercial properties. The Company maintains a portfolio of properties that it owns, develops and leases. Its investment properties are located in Arizona, Illinois, and Michigan with 100% occupancy and a weighted average lease term over 10 years. It has approximately 47 acres in Chino Valley, Arizona.