Power REIT Receives Audit Opinion with Going Concern Explanation
March 29 2024 - 5:42PM
Power REIT (NYSE-AMEX: PW and PW.PRA) (“Power REIT” or the
“Trust”), today announced that, as previously disclosed in its
Annual Report on Form 10-K for the year ended December 31, 2023,
which was filed on March 29, 2024 with the Securities and Exchange
Commission, the audited financial statements contained an
unqualified audit opinion from its independent registered public
accounting firm that included an explanatory paragraph related to
the Trust’s ability to continue as a going concern. See further
discussion in footnote 3 to the Trust’s financial statements
included in the Company’s Annual Report on Form 10-K. This
announcement is made pursuant to NYSE American LLC Company Guide
Section 610(b), which requires public announcement of the receipt
of an audit opinion containing a going concern paragraph. This
announcement does not represent any change or amendment to the
Trust’s financial statements or to its Annual Report on Form 10-K
for the year ended December 31, 2023.
ABOUT POWER REIT
Power REIT, with a focus on the “Triple Bottom
Line” and a commitment to people, planet and profit, is a
specialized real estate investment trust (REIT) that owns
sustainable real estate related to infrastructure assets including
properties for Controlled Environment Agriculture, Renewable Energy
and Transportation.
Additional information about Power REIT can be
found on its website: www.pwreit.com
Cautionary Statement About
Forward-Looking Statements
This document includes forward-looking
statements within the meaning of the U.S. securities laws.
Forward-looking statements are those that predict or describe
future events or trends and that do not relate solely to historical
matters. You can generally identify forward-looking statements as
statements containing the words “believe,” “expect,” “will,”
“anticipate,” “intend,” “estimate,” “project,” “plan,” “assume”,
“seek” or other similar expressions, or negatives of those
expressions, although not all forward-looking statements contain
these identifying words. All statements contained in this document
regarding our future strategy, future operations, future prospects,
the future of our industries and results that might be obtained by
pursuing management’s current or future plans and objectives are
forward-looking statements. You should not place undue reliance on
any forward-looking statements because the matters they describe
are subject to known and unknown risks, uncertainties and other
unpredictable factors, many of which are beyond our control. Our
forward-looking statements are based on the information currently
available to us and speak only as of the date of the filing of this
document. Over time, our actual results, performance, financial
condition or achievements may differ from the anticipated results,
performance, financial condition or achievements that are expressed
or implied by our forward-looking statements, and such differences
may be significant and materially adverse to our security
holders.
CONACT:
David H. Lesser, Chairman &
CEO |
dlesser@pwreit.com |
212-750-0371 |
|
301 Winding Road |
Old Bethpage, NY 11804 |
www.pwreit.com |
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