$PW
Power REIT Stock $pw

$pw Overview Financials Valuation SEC Filings Company Website

2024 Q1 Form 10-K Financial Statement

#000149315224012040 Filed on March 29, 2024

Income Statement

Concept	2024 Q1	2023 Q4	2023
Revenue	$534.6K	$646.5K	$2.358M
YoY Change	-46.79%	-71.79%	-72.32%
Cost Of Revenue	$384.9K	$540.1K	$1.981M
YoY Change	-26.78%	4.67%	284.0%
Gross Profit	$149.7K	$106.4K	$376.2K
YoY Change	-68.75%	-94.01%	-95.3%
Gross Profit Margin	28.0%	16.46%	15.96%
Selling, General & Admin	$511.3K	$544.0K	$2.211M
YoY Change	2.36%	-32.69%	17.53%
% of Gross Profit	341.54%	511.12%	587.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$488.0K	$538.2K	$2.488M
YoY Change	-19.3%	9.96%	65.33%
% of Gross Profit	325.96%	505.59%	661.34%
Operating Expenses	$1.056M	$1.086M	$4.699M
YoY Change	-9.02%	-16.28%	25.03%
Operating Profit	-$906.7K	-$980.0K	-$4.322M
YoY Change	32.93%	-305.04%	-201.86%
Interest Expense	-$1.015M	-$845.8K	-$2.702M
YoY Change	-288.89%	63.23%	-253.69%
% of Operating Profit
Other Income/Expense, Net			$893.9K
YoY Change
Pretax Income	-$2.077M	-$1.812M	-$14.37M
YoY Change	512.59%	-89.2%	0.79%
Income Tax
% Of Pretax Income
Net Earnings	-$2.077M	-$1.976M	-$15.02M
YoY Change	512.6%	-88.34%	5.37%
Net Earnings / Revenue	-388.51%	-305.55%	-636.99%
Basic Earnings Per Share	-$0.66		-$4.43
Diluted Earnings Per Share	-$0.66	-$0.58	-$4.43
COMMON SHARES
Basic Shares Outstanding	3.390M shares	3.390M shares	3.390M shares
Diluted Shares Outstanding	3.390M shares		3.390M shares

Balance Sheet

Concept	2024 Q1	2023 Q4	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$2.977M	$2.203M	$2.203M
YoY Change	-30.87%	-22.66%	-22.66%
Cash & Equivalents	$2.977M	$2.203M	$2.203M
Short-Term Investments
Other Short-Term Assets	$464.2K	$224.7K	$224.7K
YoY Change	-96.74%	-98.55%	-98.55%
Inventory
Prepaid Expenses	$65.30K	$1.457K
Receivables		$0.00	$0.00
Other Receivables		$439.0K	$439.0K
Total Short-Term Assets	$3.982M	$2.866M	$2.866M
YoY Change	-79.15%	-84.81%	-84.81%
LONG-TERM ASSETS
Property, Plant & Equipment	$26.98M	$51.13M	$51.13M
YoY Change	-57.13%	-19.55%	-19.55%
Goodwill
YoY Change
Intangibles	$2.448M	$2.504M
YoY Change	-8.5%	-8.33%
Long-Term Investments
YoY Change
Other Assets	$33.38M	$12.79M	$12.79M
YoY Change	3237.97%	1179.15%	1179.15%
Total Long-Term Assets	$64.90M	$67.34M	$67.34M
YoY Change	-2.62%	0.02%	0.02%
TOTAL ASSETS
Total Short-Term Assets	$3.982M	$2.866M	$2.866M
Total Long-Term Assets	$64.90M	$67.34M	$67.34M
Total Assets	$68.88M	$70.21M	$70.21M
YoY Change	-19.67%	-18.55%	-18.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$79.96K	$741.7K	$741.7K
YoY Change	-92.81%	-47.63%	-47.63%
Accrued Expenses	$1.435M	$802.5K	$802.5K
YoY Change	132.09%	45.85%	45.85%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$15.04M	$15.04M	$15.04M
YoY Change	1289.29%	1243.4%	1243.4%
Total Short-Term Liabilities	$15.00M	$18.70M	$18.70M
YoY Change	236.93%	295.44%	295.44%
LONG-TERM LIABILITIES
Long-Term Debt	$20.62M	$20.68M	$20.68M
YoY Change	-44.52%	-44.43%	-44.43%
Other Long-Term Liabilities	$217.1K	$57.68K	$57.68K
YoY Change
Total Long-Term Liabilities	$20.62M	$20.74M	$20.74M
YoY Change	-44.52%	-44.27%	-44.27%
TOTAL LIABILITIES
Total Short-Term Liabilities	$15.00M	$18.70M	$18.70M
Total Long-Term Liabilities	$20.62M	$20.74M	$20.74M
Total Liabilities	$39.97M	$39.44M	$39.44M
YoY Change	-3.94%	-5.98%	-5.98%
SHAREHOLDERS EQUITY
Retained Earnings	-$28.03M	-$25.79M
YoY Change	148.58%	139.37%
Common Stock	$47.47M	$47.26M
YoY Change	1.88%	1.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$19.44M	$30.77M	$30.77M
YoY Change
Total Liabilities & Shareholders Equity	$68.88M	$70.21M	$70.21M
YoY Change	-19.67%	-18.55%	-18.55%

Cashflow Statement

Concept	2024 Q1	2023 Q4	2023
OPERATING ACTIVITIES
Net Income	-$2.077M	-$1.976M	-$15.02M
YoY Change	512.6%	-88.34%	5.37%
Depreciation, Depletion And Amortization	$488.0K	$538.2K	$2.488M
YoY Change	-19.3%	9.96%	65.33%
Cash From Operating Activities	-$402.2K	-$612.9K	-$2.623M
YoY Change	-54.13%	-313.37%	-138.34%
INVESTING ACTIVITIES
Capital Expenditures		-$5.000K	$15.00K
YoY Change		-100.84%	-99.93%
Acquisitions
YoY Change
Other Investing Activities	$795.6K	$2.833M	$5.243M
YoY Change	-66.97%
Cash From Investing Activities	$795.6K	$2.838M	$5.228M
YoY Change	-66.97%	-578.02%	-124.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net	$76.58K		$2.349M
YoY Change	4.12%		247.95%
Cash From Financing Activities	-$76.58K	-1.719M	-2.349M
YoY Change	4.12%	2444.52%	-115.88%
NET CHANGE
Cash From Operating Activities	-$402.2K	-612.9K	-2.623M
Cash From Investing Activities	$795.6K	2.838M	5.228M
Cash From Financing Activities	-$76.58K	-1.719M	-2.349M
Net Change In Cash	$316.9K	507.0K	257.0K
YoY Change	-78.28%	-235.53%	-62.01%
FREE CASH FLOW
Cash From Operating Activities	-$402.2K	-$612.9K	-$2.623M
Capital Expenditures		-$5.000K	$15.00K
Free Cash Flow		-$607.9K	-$2.638M
YoY Change		98.29%	-81.31%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2023	us-gaap	Operating Lease Income Comprehensive Income Extensible List OperatingLeaseIncomeComprehensiveIncomeExtensibleList	http://pwreit.com/20231231#LeaseIncomeFromFinanceLease
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CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2023	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023	dei	Entity Small Business EntitySmallBusiness	true
CY2023	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	false
CY2023	dei	Document Fin Stmt Error Correction Flag DocumentFinStmtErrorCorrectionFlag	false
CY2023	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Public Float EntityPublicFloat	4528000	usd
CY2024Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	3389661	shares
CY2023Q4	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false
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CY2023	dei	Auditor Firm AuditorFirmId	206
CY2023	dei	Auditor Name AuditorName	MaloneBailey, LLP
CY2023	dei	Auditor Location AuditorLocation	Houston, Texas
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CY2022	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	682259	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	35597084	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	35597084	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-14365513	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-14253483	usd
CY2023	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	227488	usd
CY2022	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	371804	usd
CY2023	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	290554	usd
CY2022	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	87430	usd
CY2022	us-gaap	Amortization Of Below Market Lease AmortizationOfBelowMarketLease	29776	usd
CY2023	PW	Loan Modification Expense LoanModificationExpense	-160000	usd
CY2023	us-gaap	Share Based Compensation ShareBasedCompensation	885314	usd
CY2022	us-gaap	Share Based Compensation ShareBasedCompensation	682259	usd
CY2023	us-gaap	Asset Impairment Charges AssetImpairmentCharges	8235136	usd
CY2022	us-gaap	Asset Impairment Charges AssetImpairmentCharges	16739040	usd
CY2023	us-gaap	Depreciation Depreciation	2260655	usd
CY2022	us-gaap	Depreciation Depreciation	1505470	usd
CY2023	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	1053923	usd
CY2023	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-62198	usd
CY2022	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	62198	usd
CY2023	PW	Increase Decrease In Deferred Rent Receivable IncreaseDecreaseInDeferredRentReceivable	-320818	usd
CY2022	PW	Increase Decrease In Deferred Rent Receivable IncreaseDecreaseInDeferredRentReceivable	-1321311	usd
CY2022	us-gaap	Increase Decrease In Deferred Liabilities IncreaseDecreaseInDeferredLiabilities	-861916	usd
CY2023	us-gaap	Increase Decrease In Prepaid Expenses Other IncreaseDecreaseInPrepaidExpensesOther	28627	usd
CY2022	us-gaap	Increase Decrease In Prepaid Expenses Other IncreaseDecreaseInPrepaidExpensesOther	-486616	usd
CY2022	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-50000	usd
CY2023	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-708470	usd
CY2022	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	1480541	usd
CY2023	us-gaap	Increase Decrease In Security Deposits IncreaseDecreaseInSecurityDeposits	517492	usd
CY2022	us-gaap	Increase Decrease In Security Deposits IncreaseDecreaseInSecurityDeposits	-1150482	usd
CY2023	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	578165	usd
CY2022	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	473621	usd
CY2023	us-gaap	Increase Decrease In Prepaid Rent IncreaseDecreaseInPrepaidRent	4161	usd
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-2622874	usd
CY2022	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	6840237	usd
CY2023	us-gaap	Proceeds From Sale Of Real Estate Heldforinvestment ProceedsFromSaleOfRealEstateHeldforinvestment	5243456	usd
CY2022	us-gaap	Payments To Acquire Land PaymentsToAcquireLand	11826487	usd
CY2022	us-gaap	Payments For Construction In Process PaymentsForConstructionInProcess	9128623	usd
CY2023	us-gaap	Payments To Acquire Equipment On Lease PaymentsToAcquireEquipmentOnLease	15000	usd
CY2023	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	5228456	usd
CY2022	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-20955110	usd
CY2022	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	43958	usd
CY2022	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	16000000	usd
CY2023	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	2348569	usd
CY2022	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	674979	usd
CY2022	us-gaap	Payments Of Dividends Preferred Stock And Preference Stock PaymentsOfDividendsPreferredStockAndPreferenceStock	489620	usd
CY2023	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-2348569	usd
CY2022	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	14791443	usd
CY2023	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	257013	usd
CY2022	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	676570	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3847871	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3171301	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	4104884	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3847871	usd
CY2023	us-gaap	Interest Paid Net InterestPaidNet	2249281	usd
CY2022	us-gaap	Interest Paid Net InterestPaidNet	1581840	usd
CY2023	PW	Reclass Of Deferred Debt Issuance Costs To Liability Upon Reduction Of Total Loan Commitment ReclassOfDeferredDebtIssuanceCostsToLiabilityUponReductionOfTotalLoanCommitment	46023	usd
CY2022	PW	Reclass Of Deferred Debt Issuance Costs To Liability Upon Reduction Of Total Loan Commitment ReclassOfDeferredDebtIssuanceCostsToLiabilityUponReductionOfTotalLoanCommitment	255165	usd
CY2023	PW	Dividends Accrued On Preferred Stock DividendsAccruedOnPreferredStock	652829	usd
CY2022	PW	Dividends Accrued On Preferred Stock DividendsAccruedOnPreferredStock	163207	usd
CY2023	us-gaap	Notes Issued1 NotesIssued1	57675	usd
CY2023	us-gaap	Mortgage Loan Related To Property Sales1 MortgageLoanRelatedToPropertySales1	850000	usd
CY2023	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_80C_eus-gaap--NatureOfOperations_zwS3Qko6zRy1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="ar_011"></span>1 – <span id="xdx_82C_znAjwWXlgaXb">GENERAL INFORMATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power REIT (the “Registrant” or the “Trust”, and together with its consolidated subsidiaries, “we”, “us”, or “Power REIT”, unless the context requires otherwise) is a Maryland-domiciled, internally-managed real estate investment trust (a “REIT”) that owns a portfolio of real estate assets related to transportation, energy infrastructure and Controlled Environment Agriculture (“CEA”) in the United States.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Trust is structured as a holding company and owns its assets through twenty-four direct and indirect wholly-owned, special purpose subsidiaries that have been formed in order to hold real estate assets, obtain financing and generate lease revenue. As of December 31, 2023, the Trust’s assets consisted of approximately 112 miles of railroad infrastructure and related real estate which is owned by its subsidiary Pittsburgh & West Virginia Railroad (“P&WV”), approximately 501 acres of fee simple land leased to a number of utility scale solar power generating projects with an aggregate generating capacity of approximately 88 Megawatts (“MW”) and approximately 256 acres of land with approximately <span id="xdx_905_eus-gaap--AreaOfLand_iI_pid_uSqft_c20231231_z5q41OTmGrLa" title="Area of land acquired">2,163,000</span> square feet of existing or under construction CEA properties in the form of greenhouses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Trust accrued quarterly dividends during the year of 2023 of approximately $<span id="xdx_900_eus-gaap--RedeemablePreferredStockDividends_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--SeriesACumulativeRedeemablePerpetualPreferredStockMember_zy7rhB4iELp" title="Redeemable preferred stock dividends">653,000</span> ($<span id="xdx_902_eus-gaap--DividendsPayableAmountPerShare_iI_pid_c20231231__us-gaap--StatementClassOfStockAxis__custom--SeriesACumulativeRedeemablePerpetualPreferredStockMember_zfahaWV3sxSb" title="Dividends payable, amount per share">0.484375</span> per share per quarter) to holders of Power REIT’s <span id="xdx_90C_ecustom--PercentageOfRedeemblePerpetualPreferredStock_iI_pid_dp_uPure_c20231231__us-gaap--StatementClassOfStockAxis__custom--SeriesACumulativeRedeemablePerpetualPreferredStockMember_zMG3ReXEwZEe" title="Percentage of redeemble perpetual preferred stock">7.75</span>% Series A Cumulative Redeemable Perpetual Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Trust has elected to be treated for tax purposes as a REIT, which means that it is exempt from U.S. federal income tax if a sufficient portion of its annual income is distributed to its shareholders, and if certain other requirements are met. In order for the Trust to maintain its REIT qualification, at least <span id="xdx_90C_ecustom--MinimumPercentageOfTaxableIncomeToBeDistributedToShareholders_pid_dp_uPure_c20230101__20231231_zk9Q5Eyo00y7" title="Minimum percentage of taxable income to be distributed to shareholders">90</span>% of its ordinary taxable annual income must be distributed to shareholders. As of December 31, 2022, the last tax return completed to date, the Trust has a net operating loss of $<span id="xdx_907_eus-gaap--OperatingIncomeLoss_pn5n6_c20220101__20221231_zNAndE5H1o97" title="Net operating loss">24.5</span> million, which may reduce or eliminate this requirement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4	us-gaap	Area Of Land AreaOfLand	2163000	sqft
CY2023	PW	Minimum Percentage Of Taxable Income To Be Distributed To Shareholders MinimumPercentageOfTaxableIncomeToBeDistributedToShareholders	0.90	pure
CY2022	us-gaap	Operating Income Loss OperatingIncomeLoss	24500000	usd
CY2023	PW	Cash And Cash Equivalents At Carrying Values CashAndCashEquivalentsAtCarryingValues	2202632	usd
CY2022	PW	Cash And Cash Equivalents At Carrying Values CashAndCashEquivalentsAtCarryingValues	2847871	usd
CY2023Q4	us-gaap	Restricted Cash RestrictedCash	1902252	usd
CY2022Q4	us-gaap	Restricted Cash RestrictedCash	1000000	usd
CY2023Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	4104884	usd
CY2022Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	3847871	usd
CY2023	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_841_eus-gaap--UseOfEstimates_zGQXEYpSzhq1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_863_zM5gLweJftm7">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-14365513	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-14253483	usd
CY2023	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	652829	usd
CY2022	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	652827	usd
CY2023	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-15018342	usd
CY2022	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-14906310	usd
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3389661	shares
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3377676	shares
CY2023	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	3389661	shares
CY2022	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	3377676	shares
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-4.43
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-4.41
CY2023	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-4.43
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-4.41
CY2023	us-gaap	Asset Impairment Charges AssetImpairmentCharges	8200000	usd
CY2022	us-gaap	Asset Impairment Charges AssetImpairmentCharges	16700000	usd
CY2022	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect Continuing Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffectContinuingOperations	257013	usd
CY2023Q4	us-gaap	Liabilities Current LiabilitiesCurrent	15500000	usd
CY2023Q4	PW	Nonrestricted Cash Available NonrestrictedCashAvailable	2200000	usd
CY2023Q4	us-gaap	Other Loans Payable OtherLoansPayable	456000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Useful Life PropertyPlantAndEquipmentUsefulLife	P37Y
CY2023	us-gaap	Depreciation Depreciation	2261000	usd
CY2022	us-gaap	Depreciation Depreciation	1505000	usd
CY2023	us-gaap	Allowance For Doubtful Accounts Receivable Write Offs AllowanceForDoubtfulAccountsReceivableWriteOffs	315000	usd
CY2022	us-gaap	Allowance For Doubtful Accounts Receivable Write Offs AllowanceForDoubtfulAccountsReceivableWriteOffs	1177000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	227488	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	227488	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	227488	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	227488	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	227488	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense After Year Five FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive	1366981	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	2504421	usd
CY2023	us-gaap	Other Income OtherIncome	303547	usd
CY2022	us-gaap	Other Income OtherIncome	181	usd
CY2023Q4	us-gaap	Other Assets OtherAssets	69972	usd
CY2023Q4	us-gaap	Other Liabilities OtherLiabilities	57675	usd
CY2023	us-gaap	Debt Instrument Maturity Date Description DebtInstrumentMaturityDateDescription	The loan is payable annually over five years with a 1.9% interest rate and matures on August 21, 2028
CY2023Q4	us-gaap	Debt Instrument Interest Rate Stated Percentage DebtInstrumentInterestRateStatedPercentage	0.019	pure
CY2023	us-gaap	Proceeds From Sale Of Mortgage Loans Held For Sale ProceedsFromSaleOfMortgageLoansHeldForSale	850000	usd
CY2023	srt	Mortgage Loans On Real Estate Interest Rate MortgageLoansOnRealEstateInterestRate	0.085	pure
CY2023	srt	Mortgage Loan On Real Estate Final Maturity Date MortgageLoanOnRealEstateFinalMaturityDate	2025-10-30
CY2023Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	4104884	usd
CY2023	us-gaap	Lease Income LeaseIncome	2054000	usd
CY2022	us-gaap	Lease Income LeaseIncome	8518000	usd
CY2023	us-gaap	Payments For Rent PaymentsForRent	915000	usd
CY2023Q4	us-gaap	Lessee Finance Lease Term Of Contract1 LesseeFinanceLeaseTermOfContract1	P99Y
CY2023Q4	us-gaap	Lessee Finance Lease Renewal Term1 LesseeFinanceLeaseRenewalTerm1	P99Y
CY2023	us-gaap	Lessee Operating Lease Description LesseeOperatingLeaseDescription	P&WV has determined that the lease term is perpetual (for GAAP accounting purposes only) because it is perceived that it would be un-economic for the lessee to terminate and the Lessee has control over its actions with respect to default and has unlimited renewal options. Accordingly, as of January 1, 1983, the rentals receivable of $915,000 per annum, recognizing renewal options by the lessee in perpetuity, were estimated to have a present value of $9,150,000, assuming an implicit interest rate of 10%. The Trust has evaluated their long-lived assets for impairment and concluded there are no impairment indicators as of December 31, 2023.
CY2023	us-gaap	Straight Line Rent StraightLineRent	315000	usd
CY2022	us-gaap	Straight Line Rent StraightLineRent	1177000	usd
CY2023	us-gaap	Operating Lease Lease Income OperatingLeaseLeaseIncome	993123	usd
CY2022	us-gaap	Operating Lease Lease Income OperatingLeaseLeaseIncome	5605166	usd
CY2023	PW	Loan Modification Expense LoanModificationExpense	-160000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	15529584	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	755634	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	797628	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	841452	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	887325	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	17933071	usd
CY2023Q4	us-gaap	Long Term Debt LongTermDebt	36744694	usd
CY2023	us-gaap	Impairment Of Long Lived Assets To Be Disposed Of ImpairmentOfLongLivedAssetsToBeDisposedOf	8200000	usd
CY2022	us-gaap	Impairment Of Long Lived Assets To Be Disposed Of ImpairmentOfLongLivedAssetsToBeDisposedOf	16700000	usd
CY2023Q4	PW	Land Assets Held For Sale LandAssetsHeldForSale	2301730	usd
CY2022Q4	PW	Land Assets Held For Sale LandAssetsHeldForSale	4145716	usd
CY2023Q4	PW	Greenhouse Cultivation And Processing Facilities Net Of Accumulated Depreciation GreenhouseCultivationAndProcessingFacilitiesNetOfAccumulatedDepreciation	8574355	usd
CY2022Q4	PW	Greenhouse Cultivation And Processing Facilities Net Of Accumulated Depreciation GreenhouseCultivationAndProcessingFacilitiesNetOfAccumulatedDepreciation	18714406	usd
CY2022Q4	PW	Accounts Receivable Held For Sale AccountsReceivableHeldForSale	60176	usd
CY2022Q4	PW	Intangible Lease Asset Net Of Accumulated Amortization IntangibleLeaseAssetNetOfAccumulatedAmortization	146121	usd
CY2023Q4	PW	Deferred Rent Receivable Held For Sale DeferredRentReceivableHeldForSale	13169	usd
CY2022Q4	PW	Deferred Rent Receivable Held For Sale DeferredRentReceivableHeldForSale	341074	usd
CY2023Q4	us-gaap	Assets Held For Sale Not Part Of Disposal Group AssetsHeldForSaleNotPartOfDisposalGroup	10889254	usd
CY2022Q4	us-gaap	Assets Held For Sale Not Part Of Disposal Group AssetsHeldForSaleNotPartOfDisposalGroup	23407493	usd
CY2023Q4	PW	Accounts Payable Held For Sale AccountsPayableHeldForSale	109774	usd
CY2022Q4	PW	Accounts Payable Held For Sale AccountsPayableHeldForSale	151561	usd
CY2023Q4	PW	Tenant Security Deposits Held For Sale TenantSecurityDepositsHeldForSale	110492	usd
CY2022Q4	PW	Tenant Security Deposits Held For Sale TenantSecurityDepositsHeldForSale	580000	usd
CY2023Q4	PW	Prepaid Rent Held For Sale PrepaidRentHeldForSale	30000	usd
CY2022Q4	PW	Prepaid Rent Held For Sale PrepaidRentHeldForSale	37161	usd
CY2023Q4	PW	Accrued Expenses Held For Sale AccruedExpensesHeldForSale	469739	usd
CY2022Q4	PW	Accrued Expenses Held For Sale AccruedExpensesHeldForSale	210126	usd
CY2023Q4	PW	Current Portion Of Longterm Debt Net Of Unamortized Discount Held For Sale CurrentPortionOfLongtermDebtNetOfUnamortizedDiscountHeldForSale	462411	usd
CY2022Q4	PW	Current Portion Of Longterm Debt Net Of Unamortized Discount Held For Sale CurrentPortionOfLongtermDebtNetOfUnamortizedDiscountHeldForSale	495330	usd
CY2023Q4	PW	Longterm Debt Net Of Unamortized Discount Held For Sale LongtermDebtNetOfUnamortizedDiscountHeldForSale	44712	usd
CY2022Q4	PW	Liabilities Held For Sale Not Part Of Disposal Group LiabilitiesHeldForSaleNotPartOfDisposalGroup	1526666	usd
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod	1501295	shares
CY2022Q4	PW	Longterm Debt Net Of Unamortized Discount Held For Sale LongtermDebtNetOfUnamortizedDiscountHeldForSale	52488	usd
CY2023Q4	PW	Liabilities Held For Sale Not Part Of Disposal Group LiabilitiesHeldForSaleNotPartOfDisposalGroup	1227128	usd
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.63	pure
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
CY2023	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P5Y9M18D
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.0305	pure
CY2023	PW	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Estimate Of Forfeiture Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsEstimateOfForfeitureRate	0	pure
CY2023Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	6250	shares
CY2023Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	1250	shares
CY2023	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P8Y6M14D
CY2023	PW	Percentage Of Annual Ordinary Taxable Income Distributed PercentageOfAnnualOrdinaryTaxableIncomeDistributed	0.90	pure
CY2022Q4	us-gaap	Operating Loss Carryforwards OperatingLossCarryforwards	24500000	usd
CY2023Q4	us-gaap	Accrued Payroll Taxes Current AccruedPayrollTaxesCurrent	162700	usd
CY2023	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<p id="xdx_80A_eus-gaap--LossContingencyDisclosures_zL0F3ZYN1IA1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12 - <span id="xdx_820_zxS6dqYfpu8i">CONTINGENCY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Trust’s wholly-owned subsidiary, P&WV, is subject to various restrictions imposed by the Railroad Lease with NSC, including restrictions on share and debt issuance, including guarantees.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>

Files In Submission

Name	View Source	Status
0001493152-24-012040-index-headers.html	Edgar Link	pending
0001493152-24-012040-index.html	Edgar Link	pending
0001493152-24-012040.txt	Edgar Link	pending
0001493152-24-012040-xbrl.zip	Edgar Link	pending
ex19-1.htm	Edgar Link	pending
ex19-1_001.jpg	Edgar Link	pending
ex19-1_002.jpg	Edgar Link	pending
ex19-1_003.jpg	Edgar Link	pending
ex19-1_004.jpg	Edgar Link	pending
ex19-1_005.jpg	Edgar Link	pending
ex19-1_006.jpg	Edgar Link	pending
ex19-1_007.jpg	Edgar Link	pending
ex19-1_008.jpg	Edgar Link	pending
ex21-1.htm	Edgar Link	pending
ex23-1.htm	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
ex97-1.htm	Edgar Link	pending
ex97-1_001.jpg	Edgar Link	pending
ex97-1_002.jpg	Edgar Link	pending
ex97-1_003.jpg	Edgar Link	pending
ex97-1_004.jpg	Edgar Link	pending
ex97-1_005.jpg	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
form10-k.htm	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
pw-20231231.xsd	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
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R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
pw-20231231_def.xml	Edgar Link	unprocessable
pw-20231231_pre.xml	Edgar Link	unprocessable
pw-20231231_lab.xml	Edgar Link	unprocessable
form10-k_htm.xml	Edgar Link	completed
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
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R3.htm	Edgar Link	pending
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R35.htm	Edgar Link	pending
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R4.htm	Edgar Link	pending
R40.htm	Edgar Link	pending
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R44.htm	Edgar Link	pending
R45.htm	Edgar Link	pending
R46.htm	Edgar Link	pending
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R54.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
pw-20231231_cal.xml	Edgar Link	unprocessable

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$PW
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2024 Q1 Form 10-K Financial Statement

#000149315224012040 Filed on March 29, 2024

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$PW Power REIT Stock $pw

2024 Q1 Form 10-K Financial Statement

#000149315224012040 Filed on March 29, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PW
Power REIT Stock $pw