[Part I. FINANCIAL INFORMATION](index=5&type=section&id=Part%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements, highlighting a decrease in total assets to $177.0 million and a net loss of $0.6 million for the quarter Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$176,974,428** | **$291,351,654** | | Real estate assets, net | $133,871,076 | $130,512,230 | | Cash, cash equivalents and restricted cash | $11,891,930 | $16,516,725 | | Investments held in Trust | $23,658,838 | $136,871,183 | | **Total Liabilities** | **$110,857,595** | **$108,097,447** | | Mortgage notes payable, total net | $99,549,560 | $96,898,699 | | SPAC Class A common stock subject to possible redemption | $16,501,755 | $130,411,135 | | **Total Equity** | **$49,615,078** | **$52,843,072** | Condensed Consolidated Statements of Operations Highlights (Unaudited) | Account | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Total revenue | $4,121,491 | $4,573,141 | | Total costs and expenses | $4,873,184 | $4,506,389 | | **Net income (loss)** | **($608,459)** | **$380,190** | | Net loss attributable to Presidio Property Trust, Inc. common stockholders | ($1,530,988) | ($3,824,053) | | **Net loss per share (Basic & Diluted)** | **($0.13)** | **($0.32)** | Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | ($1,628,129) | ($978,260) | | Net cash provided by (used in) investing activities | $109,551,682 | ($122,314,726) | | Net cash (used in) provided by financing activities | ($112,548,348) | $131,085,492 | | **Net (decrease) increase in cash** | **($4,624,795)** | **$7,792,506** | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20%28unaudited%29) These notes detail accounting policies, real estate portfolio, mortgage debt of $100.4 million, and the significant redemption of 11.0 million SPAC shares - The company is an internally-managed REIT owning **12 commercial properties** and an interest in a SPAC as of March 31, 2023[27](index=27&type=chunk) - As the financial sponsor of Murphy Canyon Acquisition Corp. (SPAC), the company consolidated its financials; **11,037,272 SPAC shares** were redeemed in February 2023, reducing the trust account from **$137 million to $24 million**[37](index=37&type=chunk)[61](index=61&type=chunk)[100](index=100&type=chunk) Real Estate Portfolio Summary (as of March 31, 2023) | Property Type | Count/Square Feet | | :--- | :--- | | Office/Industrial Properties | 8 office buildings, 1 industrial property (756,823 sq ft) | | Retail Properties | 3 retail shopping centers (65,242 sq ft) | | Model Home Properties | 98 residential properties (295,017 sq ft) | - Total mortgage notes payable amounted to approximately **$100.4 million** as of March 31, 2023, with **$4.4 million** in principal payments due in the remainder of 2023[85](index=85&type=chunk)[88](index=88&type=chunk) - In Q1 2023, the company repurchased **386 shares** of Series D Preferred Stock for **$6,947** under its stock repurchase program[116](index=116&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the decrease in Q1 2023 total revenue to $4.1 million due to lease non-renewal and property sale, alongside increased G&A expenses and liquidity position - Total revenues decreased to **$4.1 million** in Q1 2023 from **$4.6 million** in Q1 2022, primarily due to a major lease non-renewal and property sale[154](index=154&type=chunk) - General & Administrative (G&A) expenses increased to **$2.0 million** in Q1 2023 from **$1.6 million** in Q1 2022, representing **47.7%** of total revenue[156](index=156&type=chunk) - As of March 31, 2023, the company held **$11.9 million** in cash, cash equivalents, and restricted cash, deemed sufficient for the next twelve months of operations, capital expenditures, and dividends[162](index=162&type=chunk)[165](index=165&type=chunk) Quarterly Dividends Declared Per Share | Stock Series | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Series A Common Stock | $0.022 | $0.105 | | Series D Preferred Stock (Total) | $0.58593 | $0.58593 | - Outstanding warrants, if fully exercised, could generate approximately **$111.7 million** in gross proceeds and result in the issuance of over **16.5 million** new common shares[179](index=179&type=chunk)[180](index=180&type=chunk)[182](index=182&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, Presidio Property Trust, Inc. is exempt from providing disclosures under this item - The company is a smaller reporting company and is not required to provide disclosure pursuant to this item[185](index=185&type=chunk) [Item 4. Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting - The Chief Executive Officer, Chief Financial Officer, and Chief Accounting Officer concluded that the company's disclosure controls and procedures were effective as of the period end[187](index=187&type=chunk) - No material changes in internal control over financial reporting occurred during the fiscal quarter ended March 31, 2023[188](index=188&type=chunk) [Part II. OTHER INFORMATION](index=38&type=section&id=Part%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no material legal proceedings during the period - No material legal proceedings were reported[189](index=189&type=chunk) [Item 1A. Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor related to the Inflation Reduction Act of 2022's 1% excise tax on stock repurchases has been identified, resulting in a $1,140,683 liability - A new risk factor involves the Inflation Reduction Act of 2022, imposing a **1% excise tax** on stock repurchases, potentially affecting Class A common stock redemptions[191](index=191&type=chunk) - A **$1,140,683** excise tax liability was recorded as of March 31, 2023, related to the redemption of **11,037,272 SPAC Class A Common Stock shares**[194](index=194&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered equity sales, repurchasing 386 shares of Series D Preferred Stock but no Series A Common Stock under its program - A stock repurchase program authorized on September 15, 2022, allows for up to **$6 million** of Series A Common Stock and up to **$4 million** of Series D Preferred Stock repurchases[195](index=195&type=chunk) Stock Repurchases for Q1 2023 | Stock Series | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | Series A Common Stock | 0 | N/A | | Series D Preferred Stock | 386 | Not disclosed | [Item 3. Defaults Upon Senior Securities](index=41&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - No defaults upon senior securities were reported[201](index=201&type=chunk) [Item 4. Mine Safety Disclosures](index=41&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company reported no mine safety disclosures - No mine safety disclosures were reported[202](index=202&type=chunk) [Item 5. Other Information](index=41&type=section&id=Item%205.%20Other%20Information) The company reported no other information - No other information was reported[203](index=203&type=chunk) [Item 6. Exhibits](index=41&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including SPAC-related notes and CEO/CFO certifications - Exhibits include a Form of Note for Murphy Canyon Acquisition Corp., CEO and CFO certifications (Sarbanes-Oxley Sections 302 and 906), and Inline XBRL documents[204](index=204&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-K (mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 000-53673 Presidio Property Trust, Inc. (Exact n ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ___________________________________________________________ (Exact name of registrant as specified in its charter) ___________________________________________________________ Maryland 33-0841255 (State or other jurisdiction of incorporation or organization (I.R.S. employer identification no.) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ___________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period from _____ to _____ 001-34049 (Commission file N ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ___________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period from _____ to _____ 001-34049 (I.R.S. employer ...

Presidio Property Trust, Inc. (NASDAQ:SQFT) Q4 2021 Earnings Conference Call March 31, 2022 4:30 PM ET Company Representatives Jack Heilbron - President, Chief Executive Officer Adam Sragovicz - Chief Financial Officer Gary Katz - Chief Investment Officer Steve Hightower - President of Model Home Division Lowell Hartkorn - Investor Relations Conference Call Participants Operator Good afternoon, ladies and gentlemen and welcome to the Presidio Property Trust, Fourth Quarter 2021 Earnings Call. At this time a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-K (mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 000-53673 Presidio Property Trust, Inc. (Exact n ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ___________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period from _____ to _____ 001-34049 (Commission f ...

Presidio Property Trust, Inc. (NASDAQ:SQFT) Q3 2021 Earnings Conference Call November 11, 2021 4:30 PM ET Company Participants Lowell Hartkorn - Investor Relations Jack Heilbron - President and Chief Executive Officer Adam Sragovicz - Chief Financial Officer Gary Katz - Senior Vice President, Asset Management Steve Hightower - Executive Vice President, Model Homes Operator Good afternoon, ladies and gentlemen and welcome to the Presidio Property Trust Third Quarter 2021 Earnings Call. At this time, all part ...

INVESTOR PRESENTATION © 2021 Presidio Property Trust, Inc. All rights reserved. | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...