2024 Q3 Form 10-Q Financial Statement

#000149315224030609 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $1.426M $519.3K $217.9K
YoY Change 191.92% 138.35% -90.24%
Cost Of Revenue $398.0K $378.9K $509.8K
YoY Change -2.92% -25.68%
Gross Profit $1.028M $140.5K -$291.9K
YoY Change 1185.09% -148.14%
Gross Profit Margin 72.09% 27.05% -133.95%
Selling, General & Admin $433.5K $451.8K $586.4K
YoY Change -25.26% -22.97% 71.39%
% of Gross Profit 42.16% 321.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $146.0K $183.0K $604.7K
YoY Change -74.19% -69.74% 55.64%
% of Gross Profit 14.2% 130.25%
Operating Expenses $635.9K $692.0K $1.248M
YoY Change -46.56% -44.55% 49.49%
Operating Profit $392.1K -$551.5K -$1.540M
YoY Change -135.33% -64.18%
Interest Expense $872.5K $1.144M $651.5K
YoY Change 30.79% 75.62% 43.77%
% of Operating Profit 222.49%
Other Income/Expense, Net $350.7K
YoY Change
Pretax Income -$325.0K -$19.15M -$2.191M
YoY Change -96.76% 773.63% -331.92%
Income Tax
% Of Pretax Income
Net Earnings -$325.0K -$19.15M -$2.191M
YoY Change -96.76% 773.63% -331.92%
Net Earnings / Revenue -22.79% -3686.38% -1005.72%
Basic Earnings Per Share -$0.14 -$5.70 -$0.69
Diluted Earnings Per Share -$0.14 -$5.70 -$0.69
COMMON SHARES
Basic Shares Outstanding 3.390M shares 3.390M shares 3.390M shares
Diluted Shares Outstanding 3.390M shares 3.390M shares 3.390M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.232M $2.455M $3.273M
YoY Change -14.14% -24.99% 174.64%
Cash & Equivalents $2.232M $2.455M $3.273M
Short-Term Investments
Other Short-Term Assets $337.0K $707.3K $13.84M
YoY Change -97.47% -94.89% 41592.56%
Inventory
Prepaid Expenses $181.7K $31.42K
Receivables $0.00
Other Receivables $503.0K
Total Short-Term Assets $2.901M $3.656M $17.62M
YoY Change -82.09% -79.25% 580.48%
LONG-TERM ASSETS
Property, Plant & Equipment $13.62M $23.44M $62.34M
YoY Change -74.82% -62.4% -32.84%
Goodwill
YoY Change
Intangibles $2.334M $2.391M $2.618M
YoY Change -8.88% -8.69% -26.29%
Long-Term Investments
YoY Change
Other Assets $27.68M $18.29M $1.000M
YoY Change 2668.35% 1729.34%
Total Long-Term Assets $45.54M $46.13M $65.96M
YoY Change -21.19% -30.06% -31.65%
TOTAL ASSETS
Total Short-Term Assets $2.901M $3.656M $17.62M
Total Long-Term Assets $45.54M $46.13M $65.96M
Total Assets $48.44M $49.79M $83.58M
YoY Change -34.52% -40.43% -15.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.25K $88.32K $983.7K
YoY Change -98.38% -91.02% 92.95%
Accrued Expenses $105.8K $389.5K $679.5K
YoY Change -85.49% -42.68% 438.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $16.99M $16.45M $1.084M
YoY Change 0.74% 1417.2% -34.58%
Total Short-Term Liabilities $17.00M $16.40M $4.453M
YoY Change -17.87% 268.29% -28.45%
LONG-TERM LIABILITIES
Long-Term Debt $20.04M $20.38M $36.96M
YoY Change -3.91% -44.84% 13.34%
Other Long-Term Liabilities $137.4K
YoY Change
Total Long-Term Liabilities $20.04M $20.38M $36.96M
YoY Change -3.91% -44.84% 13.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.00M $16.40M $4.453M
Total Long-Term Liabilities $20.04M $20.38M $36.96M
Total Liabilities $38.67M $39.83M $41.41M
YoY Change -7.09% -3.8% 6.31%
SHAREHOLDERS EQUITY
Retained Earnings -$46.53M -$47.34M -$13.63M
YoY Change 95.33% 247.28% -337.21%
Common Stock $47.81M $47.67M $46.83M
YoY Change 1.63% 1.79% 2.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.770M $322.6K $33.19M
YoY Change
Total Liabilities & Shareholders Equity $48.44M $49.79M $83.58M
YoY Change -34.52% -40.43% -15.66%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$325.0K -$19.15M -$2.191M
YoY Change -96.76% 773.63% -331.92%
Depreciation, Depletion And Amortization $146.0K $183.0K $604.7K
YoY Change -74.19% -69.74% 55.64%
Cash From Operating Activities -$161.8K -$541.5K -$812.9K
YoY Change -49.44% -33.38% -138.49%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $45.00K $75.00K $0.00
YoY Change
Cash From Investing Activities $45.00K $75.00K $0.00
YoY Change -325.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -423.2K -1.020M -220.9K
YoY Change 24.47% 361.68% -40.97%
NET CHANGE
Cash From Operating Activities -161.8K -541.5K -812.9K
Cash From Investing Activities 45.00K 75.00K 0.000
Cash From Financing Activities -423.2K -1.020M -220.9K
Net Change In Cash -540.0K -1.486M -1.034M
YoY Change -20.59% 43.77% 38.35%
FREE CASH FLOW
Cash From Operating Activities -$161.8K -$541.5K -$812.9K
Capital Expenditures $0.00
Free Cash Flow -$812.9K
YoY Change -117.68%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
194169 usd
CY2024Q2 us-gaap Depreciation
Depreciation
183410 usd
CY2023Q2 us-gaap Depreciation
Depreciation
604710 usd
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-36312
dei Entity Registrant Name
EntityRegistrantName
POWER REIT
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
45-3116572
dei Entity Address Address Line1
EntityAddressAddressLine1
301 Winding Road
dei Entity Address City Or Town
EntityAddressCityOrTown
Old Bethpage
dei City Area Code
CityAreaCode
(212)
dei Local Phone Number
LocalPhoneNumber
750-0371
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 us-gaap Land Improvements
LandImprovements
8756162 usd
CY2024Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
707298 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2390677 usd
CY2024Q2 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
493396 usd
CY2024Q2 PW Mortgage Loan Receivables
MortgageLoanReceivables
1945000 usd
CY2024Q2 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
17812866 usd
CY2024Q2 us-gaap Other Assets
OtherAssets
61864 usd
CY2024Q2 us-gaap Assets
Assets
49789487 usd
CY2024Q2 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
88318 usd
CY2024Q2 us-gaap Security Deposit Liability
SecurityDepositLiability
96724 usd
CY2024Q2 us-gaap Other Liabilities
OtherLiabilities
137375 usd
CY2024Q2 us-gaap Real Estate Liabilities Associated With Assets Held For Development And Sale
RealEstateLiabilitiesAssociatedWithAssetsHeldForDevelopmentAndSale
2291725 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
16446914 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
20383916 usd
CY2024Q2 us-gaap Liabilities
Liabilities
39834459 usd
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
3389 usd
CY2024Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
47661776 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-47342539 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
322626 usd
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Central Index Key
EntityCentralIndexKey
0001532619
CY2024Q2 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
usd
CY2023Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
CY2024Q2 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
usd
CY2023Q2 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
usd
CY2024Q2 PW Loan Modification Expense
LoanModificationExpense
usd
CY2023Q2 PW Loan Modification Expense
LoanModificationExpense
usd
PW Loan Modification Expense
LoanModificationExpense
usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
usd
us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
PW Loan Modification Expense
LoanModificationExpense
usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
usd
us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
usd
PW Reclass Of Deferred Debt Issuance Costs To Liability Upon Reduction Of Total Loan Commitment
ReclassOfDeferredDebtIssuanceCostsToLiabilityUponReductionOfTotalLoanCommitment
usd
us-gaap Mortgage Loan Related To Property Sales1
MortgageLoanRelatedToPropertySales1
usd
PW Accrued Interest Transferred To Loan
AccruedInterestTransferredToLoan
usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
usd
CY2024Q2 PW Deferred Rent Receivable Held For Sale
DeferredRentReceivableHeldForSale
usd
CY2024Q2 PW Prepaid Rent Held For Sale
PrepaidRentHeldForSale
usd
CY2024Q2 PW Long Term Debt Current Held For Sale
LongTermDebtCurrentHeldForSale
usd
CY2024Q2 PW Long Term Debt Noncurrent Held For Sale
LongTermDebtNoncurrentHeldForSale
usd
dei Document Type
DocumentType
10-Q
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
11804
CY2024Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
3389661 shares
dei Entity Listing Par Value Per Share
EntityListingParValuePerShare
0.001
CY2023Q4 us-gaap Land
Land
5604097 usd
CY2023Q4 us-gaap Land Improvements
LandImprovements
12901450 usd
CY2024Q2 us-gaap Real Estate Investments Other
RealEstateInvestmentsOther
9150000 usd
CY2023Q4 us-gaap Real Estate Investments Other
RealEstateInvestmentsOther
9150000 usd
CY2024Q2 us-gaap Real Estate Investments
RealEstateInvestments
23442758 usd
CY2023Q4 us-gaap Real Estate Investments
RealEstateInvestments
27655547 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2455133 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2202632 usd
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
480495 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
1902252 usd
CY2023Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
223250 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2504421 usd
CY2023Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
438994 usd
CY2023Q4 PW Mortgage Loan Receivables
MortgageLoanReceivables
850000 usd
CY2023Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
34363172 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
69972 usd
CY2023Q4 us-gaap Assets
Assets
70210240 usd
CY2023Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
58773 usd
CY2024Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
389487 usd
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
770472 usd
CY2023Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
96724 usd
CY2023Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
3000 usd
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
57675 usd
CY2023Q4 us-gaap Real Estate Liabilities Associated With Assets Held For Development And Sale
RealEstateLiabilitiesAssociatedWithAssetsHeldForDevelopmentAndSale
2727051 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
15043632 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
20682869 usd
CY2023Q4 us-gaap Liabilities
Liabilities
39440196 usd
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0775 pure
CY2023 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0775 pure
CY2024Q2 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
25.00
CY2023Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
25.00
CY2024Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
1675000 shares
CY2023Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
1675000 shares
CY2024Q2 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
336944 shares
CY2024Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
336944 shares
CY2023Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
336944 shares
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
336944 shares
CY2024Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
9632402 usd
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
9305988 usd
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
98325000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
98325000 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3389661 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3389661 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3389661 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3389661 shares
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
3389 usd
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
47254625 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25793958 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
21464056 usd
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
49789487 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
70210240 usd
CY2024Q2 us-gaap Direct Financing Lease Variable Lease Income
DirectFinancingLeaseVariableLeaseIncome
228750 usd
CY2023Q2 us-gaap Direct Financing Lease Variable Lease Income
DirectFinancingLeaseVariableLeaseIncome
228750 usd
us-gaap Direct Financing Lease Variable Lease Income
DirectFinancingLeaseVariableLeaseIncome
457500 usd
us-gaap Direct Financing Lease Variable Lease Income
DirectFinancingLeaseVariableLeaseIncome
457500 usd
CY2024Q2 PW Rental Income
RentalIncome
229779 usd
CY2023Q2 PW Rental Income
RentalIncome
-70385 usd
PW Rental Income
RentalIncome
490418 usd
PW Rental Income
RentalIncome
624307 usd
CY2024Q2 us-gaap Other Income
OtherIncome
60820 usd
CY2023Q2 us-gaap Other Income
OtherIncome
59533 usd
us-gaap Other Income
OtherIncome
106043 usd
us-gaap Other Income
OtherIncome
140823 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
519349 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
217898 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1053961 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1222630 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
56872 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
56872 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
113744 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
113744 usd
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
359474 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
464504 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
813127 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
891788 usd
CY2024Q2 us-gaap Carrying Costs Property And Exploration Rights
CarryingCostsPropertyAndExplorationRights
378850 usd
CY2023Q2 us-gaap Carrying Costs Property And Exploration Rights
CarryingCostsPropertyAndExplorationRights
509784 usd
us-gaap Carrying Costs Property And Exploration Rights
CarryingCostsPropertyAndExplorationRights
763745 usd
us-gaap Carrying Costs Property And Exploration Rights
CarryingCostsPropertyAndExplorationRights
1035496 usd
CY2024Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
92284 usd
CY2023Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
121937 usd
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
149952 usd
us-gaap Depreciation
Depreciation
671607 usd
us-gaap Depreciation
Depreciation
1209418 usd
CY2024Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
17449424 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
17998981 usd
CY2024Q2 us-gaap Interest Expense
InterestExpense
1144204 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
651530 usd
us-gaap Interest Expense
InterestExpense
2159366 usd
us-gaap Interest Expense
InterestExpense
1188952 usd
CY2024Q2 us-gaap Costs And Expenses
CostsAndExpenses
19664518 usd
CY2023Q2 us-gaap Costs And Expenses
CostsAndExpenses
2409337 usd
us-gaap Costs And Expenses
CostsAndExpenses
22670522 usd
us-gaap Costs And Expenses
CostsAndExpenses
4633567 usd
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
394394 usd
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
1040452 usd
PW Loan Modification Expense
LoanModificationExpense
-160000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
880452 usd
us-gaap Net Income Loss
NetIncomeLoss
-2530485 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
326414 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2856899 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.84
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.84
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3389661 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3389661 shares
us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0.97
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-2076998 usd
CY2024Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
163207 usd
CY2024Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
216475 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-19145169 usd
CY2024Q2 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
163207 usd
CY2024Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
190676 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
35597084 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-339046 usd
CY2023Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
163207 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
227009 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
35321840 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
35321840 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-2191439 usd
CY2023Q2 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
163207 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
225357 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
33192551 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
33192551 usd
us-gaap Net Income Loss
NetIncomeLoss
-21222167 usd
us-gaap Net Income Loss
NetIncomeLoss
-2530485 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
113744 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
113744 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
15696 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
42951 usd
PW Loan Modification Expense
LoanModificationExpense
-160000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
407151 usd
us-gaap Share Based Compensation
ShareBasedCompensation
452366 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
17998981 usd
us-gaap Depreciation
Depreciation
671607 usd
us-gaap Depreciation
Depreciation
1209418 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
394394 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1040452 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-62198 usd
PW Increase Decrease In Deferred Rent Receivable
IncreaseDecreaseInDeferredRentReceivable
54402 usd
PW Increase Decrease In Deferred Rent Receivable
IncreaseDecreaseInDeferredRentReceivable
-269984 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
514007 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
34595 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1480 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
79700 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
30867 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-499140 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1956572 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
142950 usd
us-gaap Increase Decrease In Prepaid Rent
IncreaseDecreaseInPrepaidRent
33000 usd
us-gaap Increase Decrease In Prepaid Rent
IncreaseDecreaseInPrepaidRent
37161 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-943652 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1689702 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
715642 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
2409178 usd
us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
155000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
870642 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2409178 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1096246 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
294414 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1096246 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-294414 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1169256 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
425062 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
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2935628 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4272933 usd
us-gaap Interest Paid Net
InterestPaidNet
519601 usd
us-gaap Interest Paid Net
InterestPaidNet
1103063 usd
PW Reclass Of Deferred Debt Issuance Costs To Liability Upon Reduction Of Total Loan Commitment
ReclassOfDeferredDebtIssuanceCostsToLiabilityUponReductionOfTotalLoanCommitment
46023 usd
PW Dividends Accrued On Preferred Stock
DividendsAccruedOnPreferredStock
326414 usd
PW Dividends Accrued On Preferred Stock
DividendsAccruedOnPreferredStock
326414 usd
us-gaap Mortgage Loan Related To Property Sales1
MortgageLoanRelatedToPropertySales1
1250000 usd
PW Accrued Interest Transferred To Loan
AccruedInterestTransferredToLoan
2181876 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80C_eus-gaap--NatureOfOperations_zEMDaGEAUeqb" 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>1 – <span id="xdx_825_zY7bcDccBtb5">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 accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, and with the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of the Trust, as defined below, these unaudited consolidated financial statements include all adjustments necessary to present fairly the information set forth herein. All such adjustments are of a normal recurring nature. Results for interim periods are not necessarily indicative of results to be expected for a full year.</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">These unaudited consolidated financial statements should be read in conjunction with the Trust’s audited consolidated financial statements and notes included in its latest Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on March 29, 2024.</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 June 30, 2024 the Trust’s assets consisted of approximately 112 miles of railroad infrastructure and related real estate which is owned by its subsidiary Pittsburgh &amp; West Virginia Railroad (“P&amp;WV”), approximately 447 acres of fee simple land leased to a number of utility scale solar power generating projects with an aggregate generating capacity of approximately 82 Megawatts (“MW”) and approximately 249 acres of land with approximately <span id="xdx_907_eus-gaap--AreaOfLand_iI_pid_uSqft_c20240630_zXaLGiSwQWGg" title="Area of land acquired">2,112,000</span> square feet of existing or under construction Controlled Environment Agriculture (“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 six months ended June 30, 2024, the Trust accrued quarterly dividends of approximately $<span id="xdx_908_eus-gaap--RedeemablePreferredStockDividends_c20240101__20240630__us-gaap--StatementClassOfStockAxis__custom--SeriesACumulativeRedeemablePerpetualPreferredStockMember_zkrG5gxbLX0g" title="Redeemable preferred stock dividends">326,000</span> ($<span id="xdx_90F_eus-gaap--DividendsPayableAmountPerShare_iI_pid_c20240630__us-gaap--StatementClassOfStockAxis__custom--SeriesACumulativeRedeemablePerpetualPreferredStockMember_zSEECotM14ng" title="Dividends payable, amount per share">0.484375</span> per share per quarter) on Power REIT’s <span id="xdx_901_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20240101__20240630__us-gaap--StatementClassOfStockAxis__custom--SeriesACumulativeRedeemablePerpetualPreferredStockMember_zOWg4a1LzJMe" title="Preferred stock cumulative redeemable percentage">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">On January 8, 2024, two wholly owned subsidiaries of Power REIT, PW CO CanRE Sherman 6 LLC and PW CO CanRE MF LLC, sold two cannabis related greenhouse cultivation properties located in Ordway, Colorado to an affiliate of a tenant of one of the properties. The properties are described in prior filings as Sherman 6 (the tenant of which is affiliated with the tenant/purchaser) and Tamarack 14 which was vacant. The purchaser was an unaffiliated third party and the price was established based on an arm’s length negotiation. The sale price was $<span id="xdx_902_eus-gaap--AssetAcquisitionConsiderationTransferred_c20240108__20240108__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GreenhousePropertiesMember_zWQ2gOSwcnkk" title="Total consideration">1,325,000</span>. As part of the transaction, a subsidiary of the Trust provided seller financing in the amount of $<span id="xdx_907_eus-gaap--NotesPayable_iI_c20240108__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GreenhousePropertiesMember_zNqyUIBIiSSb" title="Self financing amount">1,250,000</span> with an initial <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20240108__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GreenhousePropertiesMember_z5JNAS98U1Wc" title="Interest rate maturity, percentage">10</span>% interest rate that increases over time to <span id="xdx_908_eus-gaap--LongTermDebtWeightedAverageInterestRateOverTime_dp_uPure_c20240108__20240108__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GreenhousePropertiesMember_zGqpJon1y6xh" title="Interest rate increases over time">15</span>% until maturity. <span id="xdx_90D_eus-gaap--DebtInstrumentDescription_c20240108__20240108__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GreenhousePropertiesMember_zxdancNPGJDe" title="Debt amortization, description">The seller financing has a three-year maturity with a fixed amortization schedule of $75,000 for the first month, $40,000 for the second and third months, $45,000 for the fourth month and $15,000 per month thereafter until maturity.</span> The note is secured by a first mortgage on the properties and certain corporate and personal guarantees.</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">On January 30, 2024, a wholly owned subsidiary of Power REIT, PW Salisbury Solar LLC, sold its interest in a ground lease related to a utility scale solar farm located in Salisbury, Massachusetts. for gross proceeds of $<span id="xdx_908_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn5n6_c20240130__20240130__dei--LegalEntityAxis__custom--PWSalisburySolarLLCMember_zApFCJgGQZkb" title="Gross proceeds">1.2</span> million. The purchaser was an unaffiliated third party and the price was established based on an arm’s length negotiation. As part of the transaction, the existing municipal financing (“Municipal Debt”) and the regional bank loan (“PWSS Term Loan”) were paid off.</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_907_ecustom--MinimumPercentageOfTaxableIncomeToBeDistributedToShareholders_pid_dp_uPure_c20240101__20240630_zJbbchx0efh1" 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_901_eus-gaap--OperatingIncomeLoss_pn5n6_c20220101__20221231_zxMHzqu0Jyj7" 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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
CY2024Q2 us-gaap Area Of Land
AreaOfLand
2112000 sqft
PW Minimum Percentage Of Taxable Income To Be Distributed To Shareholders
MinimumPercentageOfTaxableIncomeToBeDistributedToShareholders
0.90 pure
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
24500000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2455133 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2202632 usd
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
480495 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
1902252 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4104884 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-19145169 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-2191439 usd
us-gaap Net Income Loss
NetIncomeLoss
-21222167 usd
us-gaap Net Income Loss
NetIncomeLoss
-2530485 usd
CY2024Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
163207 usd
CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
163207 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
326414 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
326414 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19308376 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-19308376 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2354646 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2354646 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-21548581 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-21548581 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2856899 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2856899 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3389661 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3389661 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3389661 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3389661 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3389661 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3389661 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3389661 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3389661 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.70
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.70
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.69
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.69
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.84
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.84
CY2024Q2 us-gaap Depreciation
Depreciation
183000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
605000 usd
us-gaap Depreciation
Depreciation
672000 usd
us-gaap Depreciation
Depreciation
1209000 usd
CY2024Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
550000 usd
CY2024Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
17449000 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
17999000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
315000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
315000 usd
CY2024Q2 us-gaap Straight Line Rent
StraightLineRent
200779 usd
CY2023Q2 us-gaap Straight Line Rent
StraightLineRent
223152 usd
us-gaap Straight Line Rent
StraightLineRent
401558 usd
us-gaap Straight Line Rent
StraightLineRent
483465 usd
CY2024Q2 PW Cash Basis Rent
CashBasisRent
29000 usd
CY2023Q2 PW Cash Basis Rent
CashBasisRent
-293537 usd
PW Cash Basis Rent
CashBasisRent
88860 usd
PW Cash Basis Rent
CashBasisRent
140842 usd
CY2024Q2 PW Rental Income
RentalIncome
229779 usd
CY2023Q2 PW Rental Income
RentalIncome
-70385 usd
PW Rental Income
RentalIncome
490418 usd
PW Rental Income
RentalIncome
624307 usd
CY2024Q2 PW Deferred Rent Receivables Including Of Held For Sale Amount
DeferredRentReceivablesIncludingOfHeldForSaleAmount
493000 usd
CY2023Q4 PW Deferred Rent Receivables Including Of Held For Sale Amount
DeferredRentReceivablesIncludingOfHeldForSaleAmount
452000 usd
CY2024Q2 us-gaap Prepaid Rent
PrepaidRent
0 usd
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
33000 usd
CY2024Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2023Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
113744 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
227488 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
227488 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
227488 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
227488 usd
CY2024Q2 PW Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
1366981 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2390677 usd
CY2024Q2 us-gaap Real Estate Investments Other
RealEstateInvestmentsOther
9150000 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
137000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
58000 usd
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.
CY2024Q2 us-gaap Other Assets
OtherAssets
62000 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
70000 usd
CY2023Q4 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
850000 usd
CY2023Q4 srt Mortgage Loans On Real Estate Interest Rate
MortgageLoansOnRealEstateInterestRate
0.085 pure
us-gaap Other Income
OtherIncome
106000 usd
us-gaap Other Income
OtherIncome
141000 usd
us-gaap Payments For Other Taxes
PaymentsForOtherTaxes
73000 usd
us-gaap Payments For Other Taxes
PaymentsForOtherTaxes
73000 usd
us-gaap Interest Income Other
InterestIncomeOther
32000 usd
us-gaap Interest Income Other
InterestIncomeOther
32000 usd
PW Forgiveness Of Accounts Payable
ForgivenessOfAccountsPayable
26000 usd
PW Forgiveness Of Accounts Payable
ForgivenessOfAccountsPayable
26000 usd
CY2024Q2 us-gaap Other Income
OtherIncome
61000 usd
CY2023Q2 us-gaap Other Income
OtherIncome
60000 usd
CY2024Q2 us-gaap Interest Income Other
InterestIncomeOther
23000 usd
CY2023Q2 us-gaap Interest Income Other
InterestIncomeOther
23000 usd
CY2024Q2 PW Forgiveness Of Accounts Payable
ForgivenessOfAccountsPayable
26000 usd
CY2023Q2 PW Forgiveness Of Accounts Payable
ForgivenessOfAccountsPayable
26000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
813000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
892000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
407000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
452000 usd
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
359000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
465000 usd
CY2024Q2 us-gaap Share Based Compensation
ShareBasedCompensation
191000 usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
225000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2935628 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffectContinuingOperations
1169256 usd
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
16400000 usd
CY2024Q2 PW Nonrestricted Cash Available
NonrestrictedCashAvailable
2500000 usd
CY2024Q2 us-gaap Other Loans Payable
OtherLoansPayable
456000 usd
PW Agreement Maturity Date
AgreementMaturityDate
2024-09-30
CY2024Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1200000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
315000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
315000 usd
us-gaap Lease Income
LeaseIncome
948000 usd
us-gaap Lease Income
LeaseIncome
1082000 usd
CY2024Q2 us-gaap Lease Income
LeaseIncome
459000 usd
CY2023Q2 us-gaap Lease Income
LeaseIncome
158000 usd
PW Trust Loan Modification Expense
TrustLoanModificationExpense
624000 usd
PW Trust Loan Modification Expense
TrustLoanModificationExpense
0 usd
CY2024Q2 PW Trust Loan Modification Expense
TrustLoanModificationExpense
373000 usd
CY2023Q2 PW Trust Loan Modification Expense
TrustLoanModificationExpense
0 usd
PW Accrued Loan Expenses
AccruedLoanExpenses
2182000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
16211049 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
749218 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
791212 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
835036 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
880909 usd
CY2024Q2 PW Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
17913996 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
37381420 usd
CY2024Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
17400000 usd
CY2023Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
18000000.0 usd
CY2024Q2 PW Land Assets Held For Sale
LandAssetsHeldForSale
1609673 usd
CY2023Q4 PW Land Assets Held For Sale
LandAssetsHeldForSale
2815730 usd
CY2024Q2 PW Greenhouse Cultivation And Processing Facilities Net Of Accumulated Depreciation
GreenhouseCultivationAndProcessingFacilitiesNetOfAccumulatedDepreciation
16171777 usd
CY2023Q4 PW Greenhouse Cultivation And Processing Facilities Net Of Accumulated Depreciation
GreenhouseCultivationAndProcessingFacilitiesNetOfAccumulatedDepreciation
31532816 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
31416 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1457 usd
CY2023Q4 PW Deferred Rent Receivable Held For Sale
DeferredRentReceivableHeldForSale
13169 usd
CY2024Q2 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
17812866 usd
CY2023Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
34363172 usd
CY2024Q2 PW Accounts Payable Held For Sale
AccountsPayableHeldForSale
793991 usd
CY2023Q4 PW Accounts Payable Held For Sale
AccountsPayableHeldForSale
792669 usd
CY2024Q2 PW Tenant Security Deposits Held For Sale
TenantSecurityDepositsHeldForSale
895492 usd
CY2023Q4 PW Tenant Security Deposits Held For Sale
TenantSecurityDepositsHeldForSale
895492 usd
CY2023Q4 PW Prepaid Rent Held For Sale
PrepaidRentHeldForSale
30000 usd
CY2024Q2 PW Accrued Expenses Held For Sale
AccruedExpensesHeldForSale
602242 usd
CY2023Q4 PW Accrued Expenses Held For Sale
AccruedExpensesHeldForSale
501767 usd
CY2023Q4 PW Long Term Debt Current Held For Sale
LongTermDebtCurrentHeldForSale
462411 usd
CY2023Q4 PW Long Term Debt Noncurrent Held For Sale
LongTermDebtNoncurrentHeldForSale
44712 usd
CY2024Q2 PW Liabilities Held For Sale Not Part Of Disposal Group
LiabilitiesHeldForSaleNotPartOfDisposalGroup
2291725 usd
CY2023Q4 PW Liabilities Held For Sale Not Part Of Disposal Group
LiabilitiesHeldForSaleNotPartOfDisposalGroup
2727051 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
1925002 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.63 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0305 pure
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
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y14D
us-gaap Cost Direct Labor
CostDirectLabor
84793 usd
CY2023Q2 us-gaap Cost Direct Labor
CostDirectLabor
34337 usd
CY2023Q4 PW Loss Contingency
LossContingency
600000 usd
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001493152-24-030609-index-headers.html Edgar Link pending
0001493152-24-030609-index.html Edgar Link pending
0001493152-24-030609.txt Edgar Link pending
0001493152-24-030609-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
pw-20240630.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
R16.htm Edgar Link pending
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
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
pw-20240630_cal.xml Edgar Link unprocessable
pw-20240630_def.xml Edgar Link unprocessable
pw-20240630_lab.xml Edgar Link unprocessable
pw-20240630_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R5.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