Core Viewpoint - Power REIT has successfully addressed its compliance issues with the NYSE American by restating its financials, which has resulted in an increase in total equity to approximately $10 million, thus meeting the required listing standards [2][4]. Financial Compliance - The NYSE American rescinded its Deficiency Letter after Power REIT demonstrated compliance with the equity requirements based on the restated financial statements [4]. - The Trust's Preferred Shares were reclassified from Mezzanine Equity to Equity, leading to a significant increase in total equity on the balance sheet [2]. Financial Reporting - Power REIT filed a Form 10-Q/A with the SEC for the quarter ended June 30, 2024, which included the restated equity balance and an explanatory note [3]. - The change in accounting treatment for the Preferred Shares is non-cash and does not impact revenue, gross margin, net income, or income per share [2]. Company Overview - Power REIT focuses on sustainable real estate investments related to infrastructure assets, including Controlled Environment Agriculture, Renewable Energy, and Transportation [5].
Power REIT Receives Notice Resolving NYSE American Listing Standards Deficiency