$GIPR
GENERATION INCOME PROPERTIES, INC.

2024 Q1 Form 10-K Financial Statement

#000095017024042640 Filed on April 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.433M $3.123M $7.633M
YoY Change 81.98% 123.46% 40.5%
Cost Of Revenue $654.7K $634.0K $1.699M
YoY Change 108.76% 76.2% 40.64%
Gross Profit $1.779M $2.489M $5.933M
YoY Change 73.78% 139.86% 40.46%
Gross Profit Margin 73.09% 79.7% 77.74%
Selling, General & Admin $731.8K $892.8K $3.107M
YoY Change 5.23% 10.17% 5.0%
% of Gross Profit 41.15% 35.88% 52.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $748.7K $1.442M $3.539M
YoY Change 77.41% 157.48% 123.5%
% of Gross Profit 42.09% 57.93% 59.64%
Operating Expenses $3.634M $2.334M $6.645M
YoY Change 78.5% 70.36% -15.86%
Operating Profit -$1.201M $154.2K -$711.8K
YoY Change 71.83% -146.33% -71.13%
Interest Expense -$640.2K -$1.440M -$3.113M
YoY Change 40.76% 177.69% 96.69%
% of Operating Profit -933.83%
Other Income/Expense, Net $0.00 $0.00 -$616.2K
YoY Change -100.0% -100.0% 252.68%
Pretax Income -$1.879M -$1.285M -$4.441M
YoY Change 57.86% 47.27% 61.67%
Income Tax
% Of Pretax Income
Net Earnings -$2.825M -$2.164M -$6.192M
YoY Change 114.43% 121.67% 91.26%
Net Earnings / Revenue -116.11% -69.31% -81.13%
Basic Earnings Per Share -$0.67 -$2.46
Diluted Earnings Per Share -$0.67 -$0.94 -$2.46
COMMON SHARES
Basic Shares Outstanding 5.420M 2.620M 2.520M
Diluted Shares Outstanding 4.390M 2.520M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.656M $3.117M $3.117M
YoY Change -39.51% -16.16% -16.16%
Cash & Equivalents $1.656M $3.117M $3.117M
Short-Term Investments
Other Short-Term Assets $569.7K $139.9K $139.9K
YoY Change 5.01% 5.5% 5.5%
Inventory
Prepaid Expenses
Receivables $283.9K $241.2K $241.2K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.509M $3.499M $3.499M
YoY Change -26.86% -11.37% -11.37%
LONG-TERM ASSETS
Property, Plant & Equipment $6.132M $6.152M $6.152M
YoY Change -1.29% -1.29% -1.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.151M $1.141M $1.141M
YoY Change 1708.33% 252.83% 252.83%
Total Long-Term Assets $102.1M $105.2M $105.2M
YoY Change 70.94% 74.56% 74.56%
TOTAL ASSETS
Total Short-Term Assets $2.509M $3.499M $3.499M
Total Long-Term Assets $102.1M $105.2M $105.2M
Total Assets $104.6M $108.7M $108.7M
YoY Change 65.63% 69.27% 69.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.409M $2.217M $2.217M
YoY Change -40.83% -47.98% -47.98%
Accrued Expenses $7.704M $7.787M $7.787M
YoY Change 7.9% 13.66% 13.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.481M $10.04M $10.04M
YoY Change -3.85% -10.04% -10.04%
LONG-TERM LIABILITIES
Long-Term Debt $62.05M $62.32M $62.32M
YoY Change 69.47% 76.87% 76.87%
Other Long-Term Liabilities $1.323M $1.815M $1.815M
YoY Change 71.81% 103.49% 103.49%
Total Long-Term Liabilities $63.37M $64.13M $64.13M
YoY Change 69.52% 77.52% 77.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.481M $10.04M $10.04M
Total Long-Term Liabilities $63.37M $64.13M $64.13M
Total Liabilities $72.85M $93.39M $93.39M
YoY Change 54.21% 97.51% 74.5%
SHAREHOLDERS EQUITY
Retained Earnings -$17.75M -$14.83M
YoY Change 78.28% 71.66%
Common Stock $29.64M $18.50M
YoY Change 54.99% -4.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.89M $15.30M $15.30M
YoY Change
Total Liabilities & Shareholders Equity $104.6M $108.7M $108.7M
YoY Change 65.63% 69.27% 69.27%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$2.825M -$2.164M -$6.192M
YoY Change 114.43% 121.67% 91.26%
Depreciation, Depletion And Amortization $748.7K $1.442M $3.539M
YoY Change 77.41% 157.48% 123.5%
Cash From Operating Activities $25.98K -$6.190K $12.35K
YoY Change -103.05% -102.01% -97.88%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $33.31M
YoY Change -100.0% -100.0% 159.25%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$33.31M
YoY Change -100.0% -100.0% 150.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.488M -1.215M 32.70M
YoY Change 1750.55% -247.24% 461.28%
NET CHANGE
Cash From Operating Activities 25.98K -6.190K 12.35K
Cash From Investing Activities 0.000 0.000 -33.31M
Cash From Financing Activities -1.488M -1.215M 32.70M
Net Change In Cash -1.462M -1.221M -601.0K
YoY Change 48.94% -207.95% -91.25%
FREE CASH FLOW
Cash From Operating Activities $25.98K -$6.190K $12.35K
Capital Expenditures $0.00 $0.00 $33.31M
Free Cash Flow $25.98K -$6.190K -$33.30M
YoY Change -102.88% -102.02% 171.49%

Facts In Submission

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GENERATION INCOME PROPERTIES, INC.
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CY2022 gipr Increase Decrease In Right Of Use Liability
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2023 us-gaap Interest Paid Net
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CY2022 us-gaap Interest Paid Net
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CY2022 gipr Accrual Of Preferred Stock Dividend
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CY2023 gipr Assumption Of Loan In Connection With Purchase Of Remaining Tenancy In Common Interest
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CY2022 gipr Assumption Of Loan In Connection With Purchase Of Remaining Tenancy In Common Interest
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CY2022 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
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CY2023 gipr Deferred Distribution On Redeemable Non Controlling Interests
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CY2022 gipr Deferred Distribution On Redeemable Non Controlling Interests
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CY2023 gipr Right Of Use Asset And Liability
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CY2022 gipr Right Of Use Asset And Liability
RightOfUseAssetAndLiability
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CY2023 gipr Issuance Of Other Payable Related Party For Redemption Of Non Controlling Interest
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CY2022 gipr Issuance Of Other Payable Related Party For Redemption Of Non Controlling Interest
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CY2023 gipr Issuance Of Preferred Stock For Modiv Acquisition
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CY2022 gipr Issuance Of Preferred Stock For Modiv Acquisition
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CY2023 gipr Common Stock Issued To Redeem Non Controlling Interest
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CY2022 gipr Common Stock Issued To Redeem Non Controlling Interest
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CY2023 us-gaap Nature Of Operations
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<p style="font-size:10pt;margin-top:8pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1 – Nature of Operations</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Generation Income Properties, Inc. (the “Company”) was formed as a Maryland corporation in </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 2015</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. The Company is an internally managed real estate investment company focused on acquiring and managing income-producing retail, office and industrial properties net leased to high quality tenants in major markets throughout the United States.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company formed Generation Income Properties L.P. (the “Operating Partnership”) in </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">October 2015</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. Substantially all of the Company’s assets are held by, and operations are conducted through the Operating Partnership. The Company is the general partner of the Operating Partnership and as of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">December 31, 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> owned </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">90.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the outstanding common units of the Operating Partnership. The Company formed a Maryland entity GIP REIT OP Limited LLC in 2018 that owns </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.002</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the Operating Partnership.</span></p><p style="margin-left:6.96%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="white-space:pre-wrap;font-size:9pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company places each property in a separate entity which may have a Redeemable Non-Controlling interest as a member.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of December 31, 2023, the Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis owned </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">26</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> properties. As of December 31, 2022, the Company owned </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">12</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> properties and held partial interests in one additional property through a tenancy-in-common investment.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Management’s Liquidity Plans and Going Concern</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On August 27, 2014, FASB issued ASU 2014-05, Disclosure of Uncertainties about an Entity’s ability to Continue as a Going Concern, which requires management to assess a company’s ability to continue as a going concern within one year from financial statement issuance and to provide related footnote disclosures in certain circumstances. In accordance with ASU 2014-05, management’s analysis can only include the potential mitigating impact of management’s plans that have not been fully implemented as of the issuance date if (a) it is probable that management’s plans will be effectively implemented on a timely basis, and (b) it is probable that the plans, when implemented, will alleviate the relevant conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying Consolidated Financial Statements are prepared in accordance with U.S. GAAP applicable to a going concern. This presentation contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and does not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described below.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.185%;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the twelve months ended December 31, 2023, the Company generated operating cash flows of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">12,345</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and had cash on hand of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">3.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million as of December 31, 2023. Two secured mortgage loans which have a principal balance of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">7.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">4.6</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million as of December 31, 2023 will mature on </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 30, 2024</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">October 23, 2024</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, respectively. Our current and anticipated liquidity is less than the principal balance of these obligations. As a result of our recurring losses, our projected cash needs, and our current liquidity, substantial doubt exists about the Company’s ability to continue as a going concern one year after the date that these financial statements are issued. The Company’s ability to continue as a going concern is contingent upon successful execution of management’s plan to improve the Company’s liquidity and profitability, which includes a plan to refinance these two mortgage loans at maturity. The Company has been engaged in active conversations with the current lender on a refinance. There is no assurance that the Company will be successful in obtaining such refinance on terms acceptable to the Company, if at all, and the Company may not be able to enter into collaborations or other arrangements. The failure of the Company to refinance on acceptable terms would have a material adverse effect on the Company’s business, results of operations and financial condition.</span></p>
CY2023 gipr Limited Liability Company Or Limited Partnership Business Formation Month And Year
LimitedLiabilityCompanyOrLimitedPartnershipBusinessFormationMonthAndYear
2015-09
CY2023Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
26
CY2022Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
12
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12345
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3100000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of commitments and contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is possible that the estimates and assumptions that have been utilized in the preparation of the consolidated financial statements could change significantly if economic conditions were to weaken.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3718496
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
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CY2022Q4 us-gaap Restricted Cash
RestrictedCash
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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3151946
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3752996
CY2023 gipr Write Off Of Deferred Financing Cost
WriteOffOfDeferredFinancingCost
0
CY2022 gipr Write Off Of Deferred Financing Cost
WriteOffOfDeferredFinancingCost
252256
CY2023Q4 us-gaap Prepaid Rent
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280332
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
271189
CY2023 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2022 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
989716
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q4 gipr Acquired Lease Intangible Liabilities Amortization Income After Year Five
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CY2023Q4 gipr Weighted Average Redemption Price Discount
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CY2023 us-gaap Minority Interest Description
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average 30-day market price of Generation Income Properties, Inc. common stock. GIP LP Units shall then be convertible into common stock of Generation Income Properties, Inc. on a 1:1 basis in accordance with the partnership agreement of the Operating Partnership. Additionally, the Operating Partnership has the right to redeem the preferred equity at redemption value with cash after the second year anniversary of the closing of the acquisition.
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CY2022 gipr Temporary Equity Redemption Of Redeemable Noncontrolling Interest
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CY2022 gipr Issuance Of Redeemable Operating Partnership Units For Property Acquisition
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CY2022 gipr Issuance Of Other Payable Related Party For Redemption Of Redeemable Non Controlling Interest
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CY2022 gipr Common Stock Issued To Redeem Redeemable Non Controlling Interest
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CY2022 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2022 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2023 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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CY2023 gipr Temporary Equity Redemption Of Redeemable Noncontrolling Interest
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CY2023 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2023Q4 us-gaap Common Stock Shares Authorized
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2023Q4 gipr Undesignated Preferred Stock Shares Authorized
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CY2020Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
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1
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2021Q3 us-gaap Shares Issued Price Per Share
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CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2019Q2 gipr Warrants Issuance Date
WarrantsIssuanceDate
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CY2020Q4 gipr Warrants Issuance Date
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CY2023Q4 gipr Warrants Issued And Outstanding
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CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2022Q4 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
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CY2022Q4 us-gaap Warrants And Rights Outstanding Term
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CY2023 gipr Class Of Warrant Or Right Outstanding At Exercised
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CY2023 gipr Class Of Warrant Or Right Weighted Average Price Exercised
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CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2023Q4 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
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CY2023Q4 us-gaap Warrants And Rights Outstanding Term
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CY2023Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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898200
CY2023Q4 gipr Class Of Warrant Or Right Weighted Average Exercisable Price
ClassOfWarrantOrRightWeightedAverageExercisablePrice
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CY2023 gipr Warrants And Rights Outstanding Exercisable Term1
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P2Y8M12D
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2021Q4 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
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CY2021Q4 us-gaap Warrants And Rights Outstanding Term
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CY2022 gipr Class Of Warrant Or Right Outstanding At Exercised
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CY2022 gipr Class Of Warrant Or Right Weighted Average Price Exercised
ClassOfWarrantOrRightWeightedAveragePriceExercised
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CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2022Q4 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
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CY2022Q4 us-gaap Warrants And Rights Outstanding Term
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CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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1102900
CY2022Q4 gipr Class Of Warrant Or Right Weighted Average Exercisable Price
ClassOfWarrantOrRightWeightedAverageExercisablePrice
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CY2022 gipr Warrants And Rights Outstanding Exercisable Term1
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CY2023Q4 gipr Class Warrants And Rights Outstanding Intrinsic Value
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CY2022Q4 gipr Class Warrants And Rights Outstanding Intrinsic Value
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CY2023 us-gaap Employee Benefits And Share Based Compensation
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382002
CY2022 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
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CY2023Q3 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
30000000
CY2023 gipr Description Of Rights Upon The Company Voluntary Or Involuntary Liquidation
DescriptionOfRightsUponTheCompanyVoluntaryOrInvoluntaryLiquidation
<span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As set forth in the Articles Supplementary, the Series A Preferred Stock ranked, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, senior to all classes or series of the Company’s common stock. Holders of Series A Preferred Stock, when, as and if authorized by the Company’s board of directors and declared by the Company out of funds legally available for the payment of dividends, were entitled to cumulative cash dividends</span>
CY2023Q3 us-gaap Preferred Stock Per Share Amounts Of Preferred Dividends In Arrears
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0.475
CY2023 gipr Issurance Of Prefered Stock Of Series A
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362384
CY2023 gipr Preferred Stock Dividend Paid And Accrued Per Share
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0.0396
CY2023 gipr Preferred Stock Dividend Payable
PreferredStockDividendPayable
95000
CY2023 gipr Fixed And In Substance Fixed Lease Income
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6595120
CY2022 gipr Fixed And In Substance Fixed Lease Income
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4510677
CY2023 us-gaap Variable Lease Income
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931731
CY2022 us-gaap Variable Lease Income
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CY2023 gipr Amortization Of Below Market Leases Net
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2141
CY2022 gipr Amortization Of Below Market Leases Net
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102183
CY2023 us-gaap Straight Line Rent
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CY2022 us-gaap Straight Line Rent
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CY2023 us-gaap Lease Income
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CY2022 us-gaap Lease Income
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CY2022 gipr Number Of Tenants
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4
CY2023 gipr Number Of Tenants
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4
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
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CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received
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CY2023 gipr Number Of Mortage Loan
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CY2022Q2 gipr Number Of Mortage Loan
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CY2022Q4 us-gaap Debt Instrument Increase Decrease For Period Net
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5500000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q3 gipr Installment Paid For Issuance Of Other Payable Related Party For Redemption Of Redeemable Non Controlling Interest
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CY2023Q4 gipr Due To Other Related Parties Noncurrent Agreement
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CY2022Q4 gipr Due To Other Related Parties Noncurrent Agreement
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2587300
CY2023 gipr Guaranty Fee Expense
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290316
CY2022 gipr Guaranty Fee Expense
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CY2023 us-gaap Derivative Loss On Derivative
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401782
CY2023Q4 us-gaap Derivative Liabilities
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537424
CY2023Q4 us-gaap Derivative Assets
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CY2023Q4 ecd Rule10b51 Arr Adopted Flag
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CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
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CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
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false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
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false

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