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Zoned Properties (OTCQB: ZDPY) outlines 2025 results and upcoming liquidation vote

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Zoned Properties, Inc. reported its financial performance for the full year ended December 31, 2025 and reiterated a planned wind-down of the business. Management described 2025 as challenging for companies in the regulated cannabis industry, with many operators slowing or pausing expansion amid regulatory uncertainty and capital constraints.

The Company recorded several one-time impairments tied to projects in Illinois and Michigan and has decided that a structured liquidation process is the most prudent path to maximize potential value for shareholders. It has engaged professional advisory firms to run a go-shop process and provide a fairness opinion under previously announced definitive agreements. Zoned Properties expects a shareholder vote to approve the proposed liquidation to take place before the end of the second quarter.

Positive

  • None.

Negative

  • Structured liquidation decision signals wind-down: Management and the board determined that pursuing a structured liquidation process is the most prudent path, indicating the standalone business is not expected to continue operating in its current form.
  • Asset impairments on key projects: The Company recorded several one-time impairments related to projects in Illinois and Michigan, reflecting reduced expected value from these assets amid challenging cannabis market conditions.

Insights

Zoned Properties moves toward liquidation after impairments and sector stress.

Zoned Properties has confirmed full-year 2025 results alongside a strategic pivot to a structured liquidation. Management cites broad weakness in the regulated cannabis industry, with curtailed expansion plans and difficult capital conditions impacting both the Company and its tenants.

One-time impairments on Illinois and Michigan projects indicate asset write-downs tied to those markets. The board has engaged advisors to run a go-shop process and provide a fairness opinion under existing agreements, suggesting a formal sale and liquidation framework. A shareholder vote on liquidation is expected before the end of the second quarter, which will determine whether this wind-down proceeds.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Reporting period Full year ended December 31, 2025 Period covered by the reported financial performance
Anticipated liquidation vote timing Before end of second quarter Expected timing for shareholder vote on proposed liquidation
Impairment locations Illinois and Michigan projects One-time impairments recorded on specific projects
structured liquidation process financial
"the Company’s leadership and Board determined that pursuing a structured liquidation process represents the most prudent path forward"
go-shop process financial
"the Company has identified and engaged professional advisory firms to conduct the go-shop process"
A go-shop process is a short, pre-agreed window after a company has accepted a takeover offer when the seller actively looks for higher or better bids from other buyers. Like a homeowner who keeps showing their house after accepting an offer to see if a higher bid appears, it can lift the sale price or create competing deals; for investors this affects the likely final price, deal certainty, and the value assigned to the companies involved.
fairness opinion financial
"advisory firms to conduct the go-shop process and to provide a fairness opinion in accordance with the definitive agreements"
A fairness opinion is a professional assessment that evaluates whether the terms of a financial deal, such as a merger or acquisition, are fair from a financial point of view. It helps investors and stakeholders understand if the deal is reasonable and balanced, much like an independent expert giving an unbiased judgment on whether a price or agreement is fair. This assurance can increase confidence that the transaction is fair for all parties involved.
regulated cannabis industry financial
"challenging the market environment has become for companies operating in the regulated cannabis industry"
forward-looking statements regulatory
"This press release contains forward-looking statements. All statements other than statements of historical facts"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT TO

SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): April 1, 2026

 

Zoned Properties, Inc.
(Exact Name of Registrant as Specified in its Charter)
 
Nevada
(State or Other Jurisdiction of Incorporation)

 

000-51640   46-5198242
(Commission File Number)   (IRS Employer
Identification No.)

 

8360 E. Raintree Drive, #230
Scottsdale, AZ
  85260
(Address of Principal Executive Offices)   (Zip Code)

 

(Registrant’s telephone number, including area code): (877) 360-8839

 

N/A

(Former name, former address and former fiscal year, if changed since last report) 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.)

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
N/A   N/A   N/A

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 2.02. Results of Operations and Financial Condition.

 

On April 1, 2026, Zoned Properties, Inc. (the “Company”) issued a press release announcing its financial results for the year ended December 31, 2025. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information contained in the website is not a part of this current report on Form 8-K.

 

Item 9.01 Financial Statement and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Press release of the registrant dated April 1, 2026.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

1

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ZONED PROPERTIES, INC.
   
Dated: April 1, 2026 /s/ Bryan McLaren
  Bryan McLaren
  Chief Executive Officer & Chief Financial Officer

 

2

 

Exhibit 99.1

 

Zoned Properties Announces Full Year 2025 Financial Results

 

SCOTTSDALE, Ariz., April 1, 2026 /AccessWire/ -- Zoned Properties®, Inc. (“Zoned Properties” or the “Company”) (OTCQB: ZDPY), a technology-driven property investment company for emerging and highly regulated industries, including legalized cannabis, has reported its financial performance for the full year ended December 31, 2025.

 

Selected Financial Highlights for the Full Year Ended December 31, 2025:

 

Total revenues were $4,140,458 for the year ended December 31, 2025, compared to total revenues of $3,793,289 for the year ended December 31, 2024, an increase of 9.2%.

 

The Company reported net loss of $2,851,415, or $0.24 per fully diluted share, for the year ended December 31, 2025, as compared to a net income of $573,958, or $0.06 per fully diluted share, for the year ended December 31, 2024, a decrease from net income to net loss of 597.3%. The change from net income to net loss was primarily attributable to several one-time impairment losses recorded by the Company.

 

Loss from operations was $1,885,542 for the year ended December 31, 2025, compared to income from operations of $1,103,170 for the year ended December 31, 2024, a decrease of 270.9%. The change from income from operations to loss from operations was primarily attributable to several one-time impairment losses recorded by the Company.

 

Cash provided by operating activities was $781,476 for the year ended December 31, 2025, compared to $578,218 for the year ended December 31, 2024, an increase of 35.2%.

 

Operating expenses were $6,026,000 for the year ended December 31, 2025, compared to $2,690,119 for the year ended December 31, 2024, an increase of 124%. The increase of operating expenses was primarily attributable to several one-time impairment losses recorded by the Company.

 

The Company had cash on hand of $837,767 as of December 31, 2025, compared to cash on hand of $1,019,980 as of December 31, 2024.

 

Management Commentary:

 

“The past year has underscored just how challenging the market environment has become for companies operating in the regulated cannabis industry,” said Bryan McLaren, Chief Executive Officer of Zoned Properties. “Across the sector we have seen large numbers of cannabis operators slow or pause expansion plans, as the industry remains in regulatory limbo causing significant competitive and capital constraints. Our Company and our tenants are no exception, and we have been directly impacted by these challenges, causing us to have to record several one-time impairments related to our projects in Illinois and Michigan. As previously announced and in light of these market realities, the Company’s leadership and Board determined that pursuing a structured liquidation process represents the most prudent path forward to maximize potential value for shareholders.

 

As part of this process, the Company has identified and engaged professional advisory firms to conduct the go-shop process and to provide a fairness opinion in accordance with the definitive agreements previously announced. We remain focused on executing this process in a disciplined and transparent manner and look forward to providing shareholders with a more comprehensive update as we approach the required shareholder vote to approve the proposed liquidation. At this time, the Company anticipates that the vote to approve the proposed liquidation will take place before the end of the second quarter.”

 

 

 

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

 

Zoned Properties Inc. (“Zoned Properties” or the “Company”) (OTCQB: ZDPY) is a technology-driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States.

 

Headquartered in Scottsdale, Arizona, Zoned Properties has developed a national ecosystem of real estate services to support its real estate development model, including a commercial real estate brokerage and a real estate advisory practice. With a decade of national experience and a team of experts devoted to the emerging cannabis industry, Zoned Properties addresses the specific needs of a modern market in highly regulated industries. The Company targets commercial properties that face unique zoning or development challenges, identifies solutions that can potentially have a major impact on their commercial value, and then works to acquire the properties while securing long-term, absolute-net leases.

 

Zoned Properties targets commercial properties that can be acquired and rezoned for specific purposes, including the regulated and legalized cannabis industry. It does 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. For more information, call 877-360-8839 or visit www.ZonedProperties.com.

 

X: @ZonedProperties

LinkedIn: @ZonedProperties

 

Safe Harbor Statement

 

This press release contains forward-looking statements. 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.

 

Investor Relations

 

Zoned Properties, Inc.

Bryan McLaren

Tel (877) 360-8839

Investors@zonedproperties.com

www.zonedproperties.com

 

 

FAQ

What did Zoned Properties (ZDPY) announce in its latest 8-K filing?

Zoned Properties reported full-year 2025 financial performance and confirmed it is pursuing a structured liquidation process. Management cited a difficult regulated cannabis environment, project impairments, and engagement of advisors to run a go-shop process and provide a fairness opinion under existing agreements.

Why is Zoned Properties (ZDPY) pursuing a structured liquidation process?

The board determined a structured liquidation is the most prudent path to maximize potential value for shareholders. Management highlighted stalled expansion across the cannabis sector, regulatory limbo, capital constraints, and one-time impairments on projects in Illinois and Michigan as key factors in this decision.

When will Zoned Properties (ZDPY) shareholders vote on the proposed liquidation?

The Company currently anticipates that the shareholder vote to approve the proposed liquidation will occur before the end of the second quarter. This vote will determine whether the structured liquidation plan, developed with professional advisors and existing definitive agreements, will move forward.

What impairments did Zoned Properties (ZDPY) record for 2025?

Management disclosed several one-time impairments related to projects in Illinois and Michigan. These write-downs reflect the impact of a challenging regulated cannabis market, in which many operators have slowed or paused expansion, and directly influenced the decision to pursue a structured liquidation process.

What role do advisory firms play in Zoned Properties’ (ZDPY) liquidation plan?

The Company has engaged professional advisory firms to conduct a go-shop process and provide a fairness opinion under previously announced definitive agreements. These advisors support evaluating potential transactions, assessing fairness to shareholders, and helping execute the structured liquidation in a disciplined, transparent manner.

Does Zoned Properties (ZDPY) directly handle cannabis products?

No. Zoned Properties focuses on acquiring and developing value-add real estate serving the regulated cannabis industry. It targets commercial properties with zoning challenges and secures long-term absolute-net leases, but does not grow, harvest, sell, or distribute cannabis or other controlled substances under U.S. law.

Filing Exhibits & Attachments

4 documents