v3.23.3
Consolidated Statements of Operations (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue        
Revenue $ 1,844,148 $ 1,474,085 $ 4,510,065 $ 4,035,123
Expenses        
General, administrative and organizational costs 530,538 408,570 1,233,674 1,222,986
Building expenses 431,359 269,781 1,065,214 848,373
Depreciation and amortization 981,419 561,510 2,096,970 1,551,079
Interest expense, net 770,624 382,440 1,706,585 1,088,361
Compensation costs 346,196 334,992 980,202 925,432
Total expenses 3,060,136 1,957,293 7,082,645 5,636,231
Operating loss (1,215,988) (483,208) (2,572,580) (1,601,108)
Other expense (639) 0 (506,639) 0
Income on investment in tenancy-in-common 3,362 (16,751) 32,773 23,841
Dead deal expense 0 (45,660) (109,569) (153,031)
Loss on debt extinguishment 0 0 0 (144,029)
Net loss (1,213,265) (512,117) (3,156,015) (1,874,327)
Less: Net income attributable to non-controlling interest 425,637 126,803 681,916 386,947
Net loss attributable to Generation Income Properties, Inc. (1,638,902) (638,920) (3,837,931) (2,261,274)
Less: Preferred stock dividends 190,000 0 190,000 0
Net loss attributable to common shareholders (1,828,902) (638,920) (4,027,931) (2,261,274)
Other comprehensive income:        
Gain on change in fair value of derivative instrument 78,969 0 78,969 0
Comprehensive loss attributable to common shareholders $ (1,749,933) $ (638,920) $ (3,948,962) $ (2,261,274)
Total Weighted Average Shares of Common Stock Outstanding – Basic 2,618,077 2,304,841 2,591,956 2,251,522
Total Weighted Average Shares of Common Stock Outstanding – Diluted 2,618,077 2,304,841 2,591,956 2,251,522
Basic Income Per Share Attributable to Common Stockholders $ (0.7) $ (0.28) $ (1.55) $ (1)
Diluted Income Per Share Attributable to Common Stockholders $ (0.7) $ (0.28) $ (1.55) $ (1)
Rental Income        
Revenue        
Revenue $ 1,841,044 $ 1,473,789 $ 4,486,501 $ 4,034,286
Other Incomes        
Revenue        
Revenue $ 3,104 $ 296 $ 23,564 $ 837

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