$GIPR

GENERATION INCOME PROPERTIES, INC.

CIK:0001651721|SEC Filings

Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 2,110,654	$ 2,432,270	$ 4,294,858	$ 4,813,865
Expenses
General and administrative expense	659,780	552,893	1,066,223	1,058,271
Building expenses	644,871	703,118	1,154,609	1,339,343
Depreciation and amortization	1,058,290	1,264,581	2,192,718	2,557,342
Interest expense, net	1,019,618	2,084,751	2,001,216	3,267,018
Compensation costs	302,146	199,942	690,835	440,687
Total expenses	3,684,705	4,805,285	7,105,601	8,662,661
Operating loss	(1,574,051)	(2,373,015)	(2,810,743)	(3,848,796)
Other expense	0	0	(237)	(286)
Loss on derivative valuation	195,952	(122,326)	351,803	(415,825)
Dead deal expense	0	(0)	(0)	(27,894)
Loss on held for sale asset valuation	(668,649)	0	(668,649)	0
Loss on debt of extinguishment	(26,634)	(926,398)	(26,634)	(926,398)
Gain (loss) on sale of property	1,089,754	(44,782)	1,089,754	(44,782)
Loss on transfer of LLC interests in satisfaction of debt	0	0	(185,069)	0
Net loss	(983,628)	(3,466,521)	(2,249,775)	(5,263,981)
Less: Net income attributable to non-controlling interest	97,271	956,107	962,259	1,890,506
Net loss attributable to Generation Income Properties, Inc.	$ (1,080,899)	$ (4,422,628)	$ (3,212,034)	$ (7,154,487)
Total Weighted Average Shares of Common Stock Outstanding – Basic	1,411,907	544,319	984,029	544,319
Total Weighted Average Shares of Common Stock Outstanding – Diluted	1,411,907	544,319	984,029	544,319
Basic Loss Per Share Attributable to Common Stockholders	$ (0.77)	$ (8.13)	$ (3.26)	$ (13.14)
Diluted Loss Per Share Attributable to Common Stockholders	$ (0.77)	$ (8.13)	$ (3.26)	$ (13.14)
Rental Income
Revenue
Total revenue	$ 2,105,917	$ 2,421,905	$ 4,279,653	$ 4,793,202
Other Incomes
Revenue
Total revenue	$ 4,737	$ 10,365	$ 15,205	$ 20,663

Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,249,775)	$ (5,263,981)
Adjustments to reconcile net loss to cash provided by operating activities
Depreciation of building and site improvements	1,476,059	1,630,737
Amortization of acquired tenant improvements	154,193	191,423
Amortization of in-place leases	562,466	735,182
Amortization of above-market leases	89,538	203,541
Amortization of below-market leases	(85,752)	(87,780)
Amortization of above market ground lease	(366)	(366)
Amortization of debt issuance costs	47,285	88,637
Amortization of debt discount	73,653	58,685
Restricted stock unit compensation	255,000	0
Non-cash ground lease expense	38,524	39,705
Dead deal expense	0	27,894
(Gain) loss on derivative valuation	(351,803)	415,825
Loss on held for sale asset valuation	668,649	0
Loss on extinguishment of debt	26,634	926,398
(Gain) loss on sale of property	(1,089,754)	44,782
Loss on transfer of LLC interests in satisfaction of debt	185,069	0
Changes in operating assets and liabilities
Accounts receivable	(289,254)	(16,614)
Escrow and other assets	178,275	485,195
Deferred rent asset	32,672	(29,370)
Prepaid expenses	(341,106)	(750,253)
Accounts payable	(145,265)	244,835
Accrued expenses	84,479	283,500
Accrued expenses - related party	122,115	223,993
Deferred rent liability	(144,394)	2,936
Lease liability	26,444	25,263
Other loans payable	32,280	0
Net cash provided by operating activities	(644,134)	(519,833)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash transferred in disposition of LLC interests	(7,491)	0
Purchase of land, buildings, other tangible and intangible assets	(598,198)	0
Proceeds from sale of land, buildings, other tangible and intangible assets	4,170,255	10,333,595
Addition of deferred leasing costs	(50,000)	0
Net cash used in investing activities	3,514,566	10,333,595
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of equity securities, net	4,565,833	0
Proceeds from exercise of pre-funded warrants	184	0
Repayment of other loans payable	(456,644)	0
Proceeds of issuance on loan payable - related party	125,000	1,610,000
Repayment of loan payable - related party	(125,000)	0
Mortgage loan borrowings	3,800,000	750,000
Mortgage loan repayments	(5,757,284)	(11,150,060)
Debt extinguishment costs	0	(640,180)
Equity issuance costs	(258,715)	0
Debt issuance costs	(121,374)	(72,900)
Insurance financing borrowings	345,360	380,315
Insurance financing repayments	(99,820)	(114,741)
Distribution on non-controlling interests	(9,022,627)	(833,005)
Net cash used in financing activities	(7,005,087)	(10,070,571)
Net decrease in cash and cash equivalents	(4,134,655)	(256,809)
Cash and cash equivalents and restricted cash - beginning of period	6,198,816	647,439
Cash and cash equivalents and restricted cash - end of period	2,064,161	390,630
CASH TRANSACTIONS
Interest Paid	1,902,170	3,378,842
NON-CASH TRANSACTIONS
Assumption of loans in connection with property acquisitions	0	7,023,895
Issuance of Series B-2 Preferred Units in connection with property acquisitions	0	4,209,153
Stock issued for cashless exercise of Investor Warrants	3,591	0
Building and improvements derecognized	2,432,570	0
Tenant improvements derecognized	146,765	0
Lease intangible assets derecognized	121,017	0
Accumulated Depreciation Derecognized	(800,298)	0
Other assets derecognized	36,532	0
Accounts payable derecognized	(25,863)	0
Accrued expenses derecognized	(42,840)	0
Lease liability derecognized	(12,292)	0
Mortgage debt extinguished	(1,078,013)	0
Related-party note payable forgiven	(600,000)	$ 0
Mortgage debt	$ (1,100,000)

Consolidated Balance Sheets (unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Investment in real estate
Land	$ 14,939,843	$ 20,055,577
Building and site improvements	56,268,441	67,133,859
Acquired tenant improvements	1,682,482	2,434,465
Acquired lease intangible assets	7,538,241	9,444,402
Less: accumulated depreciation and amortization	(13,606,012)	(15,307,333)
Net real estate investments	66,822,995	83,760,970
Cash and cash equivalents	2,029,661	6,164,316
Restricted cash	34,500	34,500
Deferred rent asset	365,368	398,040
Prepaid expenses	504,883	184,397
Accounts receivable	289,254	0
Escrow deposit and other assets	519,919	733,326
Held for sale assets	10,432,121	0
Right-of-use asset, net	5,950,608	5,989,132
Total Assets	86,949,309	97,264,681
Liabilities
Accounts payable	1,451,780	1,597,045
Accrued expenses	1,263,147	1,165,981
Accrued expense - related party	1,138,757	1,016,642
Acquired lease intangible liabilities, net	879,545	1,398,038
Insurance payable	278,078	32,538
Deferred rent liability	150,235	306,921
Lease liability	6,542,455	6,516,011
Other loans payable	6,148,651	7,724,452
Mortgage loans, net of unamortized debt discount and debt issuance costs of $972,636 and $1,020,818 at June 30, 2026 and December 31, 2025, respectively	46,781,677	48,690,776
Derivative liabilities	92,893	435,523
Total liabilities	64,727,218	68,883,927
Redeemable Non-Controlling Interests	24,127,496	32,187,864
Stockholders' (Deficit) Equity
Common stock, $0.01 par value, 100,000,000 shares authorized; 11,650,085 and 5,448,178 shares issued; 10,304,015 and 5,448,178 shares outstanding at June 30, 2026 and December 31, 2025, respectively.	10,304	5,443
Additional paid-in capital	34,521,913	29,413,035
Accumulated deficit	(36,830,483)	(33,618,449)
Total Generation Income Properties, Inc. Stockholders' (Deficit) Equity	(2,298,266)	(4,199,971)
Non-Controlling Interest	392,861	392,861
Total equity	(1,905,405)	(3,807,110)
Total Liabilities and Equity	$ 86,949,309	$ 97,264,681