Revoked REIT election effective January 1, 2026, and changed name from Medalist Diversified REIT, Inc. to Medalist Diversified, Inc. on March 2, 2026. Transitioning primary focus to building a Delaware Statutory Trust (DST) sponsorship program to generate fee income and increase assets under management. The new strategy will focus on net lease assets with nationally recognized or investment-grade tenants in high-growth metropolitan areas (southeast, mountain states, and California), and may opportunistically pursue non-real estate investments, including crypto assets and marketable securities. Reported a net loss attributable to common stockholders of $2,388,837 for the year ended December 31, 2025, a significant decrease from net income of $27,524 in 2024. Total revenue increased to $10,396,618 in 2025 from $9,735,127 in 2024, primarily due to single tenant net lease (STNL) property acquisitions. Total operating expenses increased by $1,416,617 to $10,140,136 in 2025, driven by higher share-based compensation, legal/accounting fees, corporate general and administrative expenses, and asset impairments. Sold Salisbury Marketplace Property for $9,930,000, resulting in a gain of $841,278. Sold Buffalo Wild Wings and United Rentals Properties for $2,507,500 and $2,792,000 respectively, resulting in losses of $52,760 and $57,079. Acquired the Tesla Pensacola Property for $14,544,504, funded by a $14,700,000 line of credit, which was subsequently repaid. Initiated the DST Program by contributing the Tesla Pensacola Property to MDRR XXV DST 1 and began selling beneficial interests, with 17.2% sold as of March 2, 2026, generating $1,479,670 in net proceeds. Owned 3.36 bitcoin as of December 31, 2025, with an unrealized loss of $44,026. Cash provided by operating activities decreased to $1,530,751 in 2025 from $1,796,137 in 2024. Cash used in investing activities was $6,979,859 in 2025, compared to cash provided of $2,062,407 in 2024. Cash provided by financing activities was $3,510,442 in 2025, compared to cash used of $1,595,413 in 2024. Repurchased 11,320 common shares at an average price of $12.44 in 2025; the repurchase program expired on May 15, 2025.