SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Zoned Properties®, Inc. (OTCQB: ZDPY), a strategic actual property growth agency whose major mission is to offer actual property and sustainability providers for the regulated hashish trade, positioning the corporate for property acquisitions and income development, as we speak introduced its monetary outcomes for the 9 and three-month intervals ended September 30, 2020.
Nine Months and Third Quarter 2020 Company Highlights
- Zoned Properties efficiently leveraged its Arizona property portfolio to obtain a dedication of at the least $8 Million from our Significant Tenant, to be utilized towards infrastructure enlargement.
- To date, practically $5 Million of the $8 Million dedicated has been invested within the enlargement tasks situated in Arizona. Construction and growth work has made vital progress towards completion of the present section of enlargement, with anticipated operational readiness in 2021.
- Zoned Properties accomplished a $100,000 strategic funding right into a start-up hashish franchise group that’s now within the remaining phases of its anticipated launch. Zoned Properties expects to play a major position with the hashish franchise associated to the intricacies of strategic capital funding and business actual property growth within the regulated hashish trade.
- In Arizona, and throughout the nation, the passage of regulated hashish poll measures replicate the overwhelming help from nearly all of American voters for the regulated hashish trade.
Nine Months and Third Quarter 2020 Financial Results
- Revenue decreased 10.5% to $302,772 for the third quarter of 2020, in comparison with $338,339 for the third quarter of 2019. This lower in revenues was primarily attributable to a lower in advisory revenues of $42,191, or 70.2%, offset by a rise in lease revenues of $6,624, or 2.4%.
- Operating bills decreased 18.1% to $249,021 for the third quarter of 2020, in comparison with $304,052 for the third quarter of 2019.
- Income from operations elevated 56.8% to $53,751 for the third quarter of 2020, in comparison with revenue from operations of $34,287 for the third quarter of 2019, a rise of $19,464.
- Net revenue was $25,089, or $0.00 per primary and diluted share, for the third quarter of 2020, in comparison with internet revenue of $3,987, or $0.00 per primary and diluted share, for the third quarter of 2019.
- Net money offered by working actions was $48,470 for the 9 months ended September 30, 2020, in comparison with $219,433 for the 9 months ended September 30, 2019.
- As of September 30, 2020, Zoned Properties had money of $577,763, in comparison with $639,781 as of December 31, 2019.
“It has been an exciting year for Zoned Properties as we continue expanding our operational footprint in Arizona, developing our national advisory services with new client projects and advisory professionals, and prepare for the launch of a new cannabis franchise concept,” commented Bryan McLaren, Chief Executive Officer of Zoned Properties. “We are empowered by Arizona voters and voters across the nation, who spoke up on election day to pass regulated cannabis measures on the ballot. Our expansion projects in Arizona could not have come at a better time, as we prepare for an exciting new adult-use marketplace and the completion of new operational square footage at our facilities in Arizona will lead to a material increase in leasing revenue for Zoned Properties.”
About Zoned Properties, Inc. (OTCQB: ZDPY):
Zoned Properties is a strategic actual property growth agency whose major mission is to offer actual property and sustainability providers for purchasers within the regulated hashish trade, positioning the corporate for actual property acquisitions and income development. We intend to pioneer sustainable growth for rising industries, together with the regulated hashish trade. We are an accredited member of the Better Business Bureau, the U.S. Green Building Council, and the Forbes Real Estate Council. We give attention to investing capital to amass and develop business properties to be leased on a triple-net foundation, and interesting purchasers that face zoning, allowing, growth, and operational challenges. We present growth methods and advisory providers that might probably have a significant influence on money movement and property worth. We don’t develop, harvest, promote or distribute hashish or any substances regulated beneath United States legislation such because the Controlled Substance Act of 1970, as amended (the “CSA”).
Safe Harbor Statement
This press launch accommodates forward-looking statements inside the that means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements apart from statements of historic info included on this press launch are forward-looking statements. In some instances, forward-looking statements could be recognized by phrases akin to “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or comparable expressions. Such forward-looking statements embody dangers and uncertainties, and there are essential elements that might trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. These elements, dangers and uncertainties are mentioned within the Company’s filings with the Securities and Exchange Commission. Investors shouldn’t place any undue reliance on forward-looking statements since they contain identified and unknown, uncertainties and different elements that are, in some instances, past the Company’s management which may, and sure will, materially have an effect on precise outcomes, ranges of exercise, efficiency or achievements. Any forward-looking assertion displays the Company’s present views with respect to future occasions and is topic to those and different dangers, uncertainties and assumptions regarding operations, outcomes of operations, development technique and liquidity. The Company assumes no obligation to publicly replace or revise these forward-looking statements for any purpose, or to replace the explanations precise outcomes may differ materially from these anticipated in these forward-looking statements, even when new info turns into obtainable sooner or later.
In March 2020, the World Health Organization declared COVID-19 a worldwide pandemic and advisable containment and mitigation measures worldwide. We are monitoring this intently, and though operations haven’t been materially affected by the COVID-19 outbreak so far, the final word length and severity of the outbreak and its influence on the financial surroundings and our enterprise is unsure. Currently, the entire properties in our portfolio are open to our Significant Tenants and their prospects and can stay open pursuant to state and native authorities necessities. At this time, we don’t foresee any materials modifications to our operations from COVID-19. Our tenants are persevering with to generate income at these properties they usually have continued to make rental funds in full and on time and we consider the tenants’ liquidity place is ample to cowl its anticipated rental obligations. Accordingly, whereas we don’t anticipate an influence on our operations, we can’t estimate the length of the pandemic and potential influence on our enterprise if the properties should shut or if the tenants are in any other case unable or unwilling to make rental funds. In addition, a extreme or extended financial downturn may lead to a wide range of dangers to our enterprise, together with weakened demand for our properties and a decreased capability to lift extra capital when wanted on acceptable phrases, if in any respect. At this time, the Company is unable to estimate the influence of this occasion on its operations.