{"id":15323,"date":"2025-07-21T14:54:40","date_gmt":"2025-07-21T19:54:40","guid":{"rendered":"https:\/\/1reason.com\/re\/resurgent-realty-trust-issue-position-statement-regarding-generation-income-properties-inc-gipr\/15323\/"},"modified":"2025-07-22T09:54:40","modified_gmt":"2025-07-22T14:54:40","slug":"resurgent-realty-trust-issue-position-statement-regarding-generation-income-properties-inc-gipr","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/resurgent-realty-trust-issue-position-statement-regarding-generation-income-properties-inc-gipr\/15323\/","title":{"rendered":"Resurgent Realty Trust Issue Position Statement Regarding Generation Income Properties, Inc. (\u201cGIPR\u201d)"},"content":{"rendered":"<div> (NASDAQ: GIPR) (\u201cGIPR\u201d or the \u201cCompany\u201d), issue the following position statement regarding the continued mismanagement of GIPR and failure of its board of directors to fulfill their fiduciary duty.  <\/p>\n<p align=\"justify\"><strong>\u201cThis is absolute insanity\u201d\u2026. <\/strong><\/p>\n<p align=\"justify\">Borrowing $1.1M for \u201cgeneral corporate purposes\u201d, which is really G&amp;A and not investments, principal curtailments or a share repurchase program is operating with a complete disregard for fiscal responsibility to and on behalf of the shareholders.<\/p>\n<p align=\"justify\"><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ZuqzC3k8WOKSg0qVyWmrKQzxkAK1qUESCN_JCjv6HAUIWjRjsxKW8pE_KC_Yomw2lHQiSrNjIo-PuU_yyBGHjM2J8R5jgXOYJfeN72KwBHHXghSnQBfidpQGd9KcVpHWcqa2shvF4Yiem4M42-VrwCQb2gw3jxuXSU4ciYSCnJ_3VqeJknSs35SKMVsPg1bUuClT0IyPA46pVN8I7H5-hrDez-b-3nlxqkjsnFgzDcq8gyfdMJHGvHjWpOTnISrczbMUdO5HbEX-JooNp8iHZKl3X1_61HWgXwtkS663k9WjY81w74UUU8Ervm51A3l0\" rel=\"nofollow noopener\" target=\"_blank\" title=\"\">https:\/\/ir.gipreit.com\/sec-filings\/all-sec-filings\/content\/0000950170-25-088517\/0000950170-25-088517.pdf<\/a><\/p>\n<p align=\"justify\">David Sobelman as CEO &amp; the entire board are operating \u201creckless abound\u201d with no understanding of the basic corporate tenet and fiduciary duty as stewards of a publicly traded company.<\/p>\n<p align=\"justify\">Whether now via the Special Committee or at the next Shareholders Annual Meeting this fall, all this malfeasance will be stopped.<\/p>\n<p align=\"justify\">Since their IPO in Sept 2021, GIPR has never been profitable in 3.9 years and will not be profitable under the current leadership that has decimated this REIT.<\/p>\n<p align=\"justify\">These types of actions are not forgivable, and the shareholders have spoken loud and clear as evidenced by the stock price destruction from $10 to $1.40 (86%).<\/p>\n<p align=\"justify\">Management needs to be fired, and the board reconstituted to stabilize this wayward and sinking ship.<\/p>\n<p align=\"justify\">This is a profoundly serious matter and should be treated as such. Millions have been lost in the hands of David Sobelman as CEO.<\/p>\n<p align=\"justify\">The name Real Estate Investment Trust is embedded with the word \u201cTrust\u201d. There is a fiduciary duty and responsibility here that is sorely missing.<\/p>\n<p align=\"justify\">Jon S. Wheeler<br \/>Chief Executive Officer<br \/>Resurgent Realty Trust <br \/>Pavilion Center I<br \/>2101 Parks Avenue, Suite 403<br \/>Virginia Beach, VA 23451<br \/>C: (757) 621-2873<br \/>O: (757) 644-5997<br \/>www.resurgentrealty.net<\/p>\n<p><img alt=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/MjcwYTQ1NjAtZWQ3YS00MGZmLTg0YzItMWQ4NTM4NTZkN2Y0LTUwMDEzMjc1NC0yMDI1LTA2LTI1LWVu\/tiny\/Resurgent-Realty-Trust.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p>Cites Continued Failure to Perform Fiduciary Duty by GIPR Management and Board of Directors<\/p>\n<p align=\"left\">VIRGINIA BEACH, Va., June 25, 2025 (GLOBE NEWSWIRE) &#8212; Resurgent Realty Trust (\u201cRRT\u201d), a shareholder of Generation Income Properties, Inc.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15323"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=15323"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15323\/revisions"}],"predecessor-version":[{"id":15330,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/15323\/revisions\/15330"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=15323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=15323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=15323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}