Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Zoned Properties, Inc. reported three months ended March 31, 2023 results: revenue $688,024, net income $309,648.
- Period
- three months ended March 31, 2023
- Revenue
- $688,024
- Net income
- $309,648
- Result
- reported results
Exact text from the filing
Financial Highlights: ● Revenues were $688,024 for the quarter ended March 31, 2023, compared to revenues of $938,701 for the quarter ended March 31, 2022, representing a decrease of 26%. The decrease was primarily attributable to a decrease in brokerage commission revenues, which reflects the variable nature of one-time commission events that contribute to overall brokerage revenues, offset by an increase in advisory services revenues and property investment portfolio revenues. ● Property investment portfolio revenues were $610,474 for the quarter ended March 31, 2023, compared to property investment portfolio revenues of $390,097 for the quarter ended March 31, 2022, representing an increase of 56.5%. ● Operating expenses were $696,410 for the quarter ended March 31, 2023, compared to $929,183 for the quarter ended March 31, 2022, representing a decrease of 25%, primarily attributable to a decrease in one-time brokerage commission splits. ● The Company reported a net loss of $309,648
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