Zoned Properties, Inc.

Zoned Properties, Inc. announced the closing of the sale of two properties, Green Valley and Kingman, to Broken Arrow Herbal Center, Inc. on June 30, 2026. The company received a cash payment of $1.0 million for these properties, with $0.5 million allocated to each. The closing date for the third property, Chino, has been extended to August 31, 2026, with a potential further extension to September 30, 2026.

Zoned Properties announced its financial results for the first quarter ended March 31, 2026, reporting a 20.3% increase in total revenues to $1.17 million. However, the company experienced a significant 91.6% rise in operating expenses, leading to a 70.5% decrease in income from operations and a shift from a net income to a net loss of $54,660. Despite the net loss, cash provided by operating activities saw a substantial increase of 393.1% to $1.63 million, and cash on hand grew to over $2.5 million.

Zoned Properties, Inc. reported a net loss of $(54,660) for the first quarter of 2026, a decline from a net income of $145,858 in the prior year period, despite total revenues increasing to $1,172,436. The company announced significant strategic divestments, including an Asset Purchase Agreement on January 15, 2026, to sell substantially all its assets to a management-owned entity, and an agreement to sell three properties for $9.0 million on April 20, 2026. Additionally, a Michigan property was sold on May 1, 2026, for $600,000 cash plus assumed debt. These planned sales raise substantial doubt about the company's ability to continue as a going concern.

Zoned Properties, Inc., through its wholly owned subsidiary ZP RE MI Woodward, LLC, entered into and closed an Agreement of Sale and Escrow Instructions on May 1, 2026. The company sold its fee interest in a Michigan property, vendee interests in two land contracts, and its interest in a cannabis facility lease to Woodward RE 1 LLC. The aggregate purchase price was $700,000, with the buyer also assuming approximately $1.7 million in outstanding land contract obligations, bringing the total transaction value to over $2.4 million.

Zoned Properties, Inc., through its subsidiaries, entered into a Real Estate Purchase and Sale Agreement to sell three properties to Broken Arrow Herbal Center, Inc. for a total of $9.0 million. The transaction involves a $4.0 million cash payment and a $5.0 million seller-financed promissory note. The sale stems from the purchaser exercising existing purchase rights outlined in their lease agreements for the properties.