ZDPY - Zoned Properties Reports Full-Year 2018 Financial Results

SCOTTSDALE, Ariz., March 28, 2019 /PRNewswire/ -- Zoned Properties^®, Inc. (OTCQX: ZDPY), a strategic real estate development firm whose primary mission is to provide real estate and sustainability services for the regulated cannabis industry, positioning the company for property acquisitions and revenue growth, today announced its financial results for the year ended December 31, 2018.

Full-Year 2018 and Subsequent Financial Results

• Revenues were $1.2 million, down 41.5% compared to $2.1 million for the year ended December 31, 2017, reflecting the company's transition to a new business model.
• Operating expenses, including a one-time non-cash write-off of $1.9 million related to deferred rent receivables in the second quarter of 2018, were $3.2 million compared to $1.4 million for the year ended December 31, 2017.
• Cash provided by operating activities was $360,000 for the year ended December 31, 2018 compared to $54,000 for the year ended December 31, 2017.
• As of December 31, 2018, the company had cash of $355,000, compared to $824,000 as of December 31, 2017.
• Completed a 32.3% common stock redemption as consideration for amending agreements with its primary tenant and client in Arizona, providing an immediate return of value to its shareholders. As a result, Zoned Properties now has 11.9 million common shares issued and outstanding.

"We enter 2019 with a clean capital structure and no toxic debt, a rarity among companies in the regulated cannabis industry, and a stable base of triple-net recurring revenue to cover our fixed costs," commented Bryan McLaren, Chief Executive Officer. "With this solid platform, we are moving quickly to address significant and largely unmet needs in the regulated cannabis industry. Operators are realizing that real estate project complexities are one of the most common issues inhibiting development and expansion, and finding appropriate, zoned properties in which to conduct business is increasingly challenging. Zoned Properties has the expertise to address these challenges with practical, proven solutions."

"During 2019, we anticipate adding meaningful revenue from our advisory services division atop existing lease revenue from the regulated cannabis properties already under ownership," added Mr. McLaren. "Zoned Properties has valuable expertise in navigating development issues related to regulated cannabis properties, and a track record in securing municipal approvals to develop large-scale projects. Our plan is to leverage this value to reward shareholders."

About Zoned Properties, Inc. (OTCQX: ZDPY):

Zoned Properties is a strategic real estate development firm whose primary mission is to provide real estate and sustainability services for clients in the regulated cannabis industry, positioning the company for real estate acquisitions and revenue growth. We intend to pioneer sustainable development for emerging industries, including the regulated cannabis industry. We are an accredited member of the Better Business Bureau, the U.S. Green Building Council, and the Forbes Real Estate Council. We focus on investing capital to acquire and develop commercial properties to be leased on a triple-net basis, and engaging clients that face zoning, permitting, development, and operational challenges. We provide development strategies and advisory services that could potentially have a major impact on cash flow and property value. We do not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substance Act of 1970, as amended (the "CSA").

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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SOURCE Zoned Properties, Inc.