Power REIT reported a net loss attributable to common shareholders of $2.8 million for FY2025, a significant improvement from $25.4 million in FY2024. Revenue decreased to $2.01 million in FY2025 from $3.05 million in FY2024, primarily due to reduced rental income from related parties and other rental income. The company resolved issues with its Greenhouse Loan lender on April 11, 2025, by providing deeds-in-lieu of foreclosure for properties in Michigan and Nebraska, resulting in a non-cash gain of approximately $1.09 million and relieving ongoing maintenance costs. The Greenhouse Portfolio continues to perform poorly with most properties vacant or occupied by defaulting tenants, leading to significant impairment charges. Cash, cash equivalents, and restricted cash totaled $2.24 million as of December 31, 2025, a slight increase of $3,720 from December 31, 2024. The company is in arrears on property taxes for certain Greenhouse Portfolio properties, totaling approximately $1.33 million, which could lead to tax foreclosure actions starting in the first quarter of 2026. Power REIT has identified a material weakness in its internal controls related to accounting for complex transactions (specifically, the classification of Series A Preferred Stock). The company is actively pursuing a strategy to monetize its Greenhouse Portfolio through sales and re-leasing, and is exploring broader strategic alternatives, including potential mergers or investments in distressed real estate situations. Dividends on Series A Preferred Stock have not been declared since Q4 2022, with cumulative undeclared dividends totaling approximately $2.12 million as of December 31, 2025.