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UPDATES.md

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Property22164 Umland Cir, Jenner, CA 95450
FolderREADME & Property Snapshot
KindText
Updated2026-07-15
Dropbox path00 - README & Property Snapshot/UPDATES.md

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## 2026-07-14

- Property Update (07/14/2026):
Hi everyone,

This month's update includes the current reviewed financial summary from the guarded monthly workflow.

Financial summary from FINANCIALS.md:

Financial data is shown as of 2026-06.

## Cash Flow Snapshot (2026-06)

Revenue: $3,945.28
Operating Expenses: -$4,733.16
NOI: -$787.88
Net Operating Cashflow: -$787.88

## Monthly Cash Position (2026-06)

Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.

Lofty Operating Cash: $1,558.20 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$115,192.34 (ECO Systems General Ledger Column E (315 rows))

## 2026-07-14


- Property Update (07/14/2026):
This month's update includes the current reviewed financial summary from the guarded monthly workflow.

Financial summary from FINANCIALS.md:

Financial data is shown as of 2026-06.

## Cash Flow Snapshot (2026-06)

Revenue: $3,945.28
Operating Expenses: -$4,733.16
NOI: -$787.88
Net Operating Cashflow: -$787.88

## Monthly Cash Position (2026-06)

Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.

Lofty Operating Cash: $1,558.20 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$115,192.34 (ECO Systems General Ledger Column E (315 rows))

Financial summary:
- Lofty-held current maintenance reserve: $1,558.20
- ECO GL Column E sum: -$115,192.34 (315 rows)
- Property Update (07/14/2026):
Hi everyone,

This month's update includes the current reviewed financial summary from the guarded monthly workflow.

Financial summary from FINANCIALS.md:

Financial data is shown as of 2026-06.

## Cash Flow Snapshot (2026-06)

Revenue: $3,945.28
Operating Expenses: -$4,733.16
NOI: -$787.88
Net Operating Cashflow: -$787.88

## Monthly Cash Position (2026-06)

Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.

Lofty Operating Cash: $1,558.20 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$115,192.34 (ECO Systems General Ledger Column E (315 rows))

# Property Updates

## 2026-07-12

- Property Update (07/12/2026):
Hi everyone,

This month's update includes the current reviewed financial summary from the guarded monthly workflow.

Financial summary from FINANCIALS.md:

## Cash Flow Snapshot (2026-04)

**Source:** Cash Flow Statement, month `2026-04`
**Updated:** 2026-05-18

| Metric | Amount |
|---|---:|
| Revenue | $3,197.66 |
| Operating Expenses | -$2,757.69 |
| NOI | $439.97 |
| Loan/CapEx/Retained Earnings | $0.00 |
| Net Operating Cashflow | $439.97 |
| Rents | $3,197.66 |
| Property Management Fee | $0.00 |
| Insurance | $0.00 |
| Taxes | $0.00 |
| Utilities | -$759.26 |
| Repairs / Maintenance | -$1,820.00 |
| Operating Reserve Balance | $494.35 |
| ECO Cash Balance | $0.00 |
| Mortgage Principal Balance | $791,184.61 |
| Estimated NAV | $0.00 |

`source_workbook: Public/07 - P&L & Owner Statements/Cash Flow Statement - 22164 Umland Cir, Jenner, CA 95450.xlsx`
<!-- AUTO:CF_PRIOR_MONTH_END -->

## Monthly Cash Position (2026-06)

Amounts are shown as of 2026-06. ECO Operating Cash is the complete DAO-attributed ECO Systems GL Column E balance through the as-of month, including accruals; it is not limited to ECO Systems LLC bank cash.

| Metric | Amount | Source |
|---|---:|---|
| Lofty Operating Cash | $1,558.20 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | -$29,006.24 | ECO Systems General Ledger Column E (309 rows) |

Financial summary:
- Lofty-held current maintenance reserve: $1,558.20
- ECO GL Column E sum: -$29,006.24 (309 rows)

## 2026-07-02

- Property Update (07/02/2026):
This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.

Financial summary:
- Lofty-held current maintenance reserve: $1,808.20
- ECO GL Column E sum: -$32,791.29 (309 rows)

- Status Update:
- Property remains under ECO management
- Recent financial activity through March 2026
- Operating expenses and taxes current
- Status: Active - Continuing operations

- Status Update:
- Previous sale proposal (Jan 2026) voted "Do Nothing"
- Property remains active under ECO management
- Monitoring for new sale opportunities
- Status: Active

## 2026-07-02

- Property Update (07/02/2026):
This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.

Financial summary:
- Lofty-held current maintenance reserve: $1,808.20
- ECO GL Column E sum: -$32,791.29 (309 rows)

## 2026-07-02

- Property Update (07/02/2026):
Hi everyone,

This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.

Financial summary:
- Lofty-held current maintenance reserve: $1,808.20
- ECO GL Column E sum: -$32,791.29 (309 rows)

- We are issuing a proactive owner communication to keep update cadence consistent.
- Property operations and file review are in progress.
- A fuller operational/financial update will follow after manager file reconciliation.

- Status Update:
- Property remains under ECO management
- Recent financial activity through March 2026
- Operating expenses and taxes current
- Status: Active - Continuing operations

- Status Update:
- Previous sale proposal (Jan 2026) voted "Do Nothing"
- Property remains active under ECO management
- Monitoring for new sale opportunities
- Status: Active

## 2026-06-09

- Property Update (06/09/2026):
- Assignment of Rents received from Stinson LLP, attorneys on behalf of NFS Capital, LLC, securing lender's balance with Airbnb rents. No further rents will be paid out to the DAO as a result of this assignment.
    - I have reached out to the attorneys handling the foreclosure and will await a call back. In the meantime, anyone who can redeem the $104k debt will be rewarded handsomely out of co-owner's equity, which would otherwise go to zero along with everyone else's equity if a foreclosure sale goes through tomorrow morning and the property is purchased by a third party.
    - Foreclosure auction scheduled 6/10/26. Redemption is ~$104k
    - Auction sale scheduled for 6/10/25 at 10 AM PDT in the Plaza at Fremont Park located at 860 5th St. Santa Rosa, CA 95404
    - All accessible files saved in Dropbox under 10 - Deed & Title
    - Any questions please contact Craig at clark.kraig@gmail.com or +1 (916) 548-6552

## 2026-04-11

- Property Update (04/11/2026):
- Status Update:
    - Property remains under ECO management
    - Recent financial activity through March 2026
    - Operating expenses and taxes current
    - Status: Active - Continuing operations

## 2026-04-11

- Property Update (04/11/2026):
- Status Update:
    - Previous sale proposal (Jan 2026) voted "Do Nothing"
    - Property remains active under ECO management
    - Monitoring for new sale opportunities
    - Status: Active

## 2026-01-21

- Property Update (01/21/2026):
- Governance Vote for 22164 Umland Cir:
- The governance results are back for the owner-proposed vote.
- The winning vote is:
- Do nothing.
- This was voted on by 27 participants in total. Out of the total number of participants, 5 voted for the winning vote, totaling 50.18% of the voting power. This is a co-ownership property, which means the governance mechanism used the scaled governance calculations as opposed to the default of 1 token equals 1 vote.
- The voting results can be found on chain [here](https://allo.info/application/3413733981) or by searching the application ID: 3413733981

## 2026-01-13

- Property Update (01/13/2026):
- Owner-Proposed Governance Vote for 22164 Umland Cir:
- An owner with the following [wallet address](https://allo.info/account/GMKS3PVHQXRRRDHSRKIBLPC6GT267FFOBKEO237YBBDUZXQGR3CILYKGUU) is proposing a governance vote.
- This owner holds 55 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- Due to ongoing negative cash flow, late mortgage payments made by the co-owner, and the mounting risk of mortgage default, I propose we allow Earl Vanze Co as Authorized Member to list and sell the property, allowing him to engage with a licensed broker if necessary. Earl shall be authorized to make all decisions regarding the listing, negotiation, and sale of the property, and settle all debts and financial affairs related to the property upon closing, provided that the sale nets at least $25 per token. As compensation for providing all managerial, administrative, and transaction coordination services through closing and to align interests in maximizing net sale proceeds, Earl shall be paid a fee of 1% of the sale price. The only limit placed on Earl's decision-making authority is that he is not allowed any self dealing and must not enrich himself at the expense of the DAO, except for the aforementioned compensation.
- While selling in the current market will most likely create a loss for most token holders, I believe that continuing on the current course could lead to a total loss of our investment, if we end up in a fire sale or foreclosure situation.
- Voting options:
- 1. List and sell the property with the terms proposed.
- 2. Do nothing.
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, January 20th, once the voting period ends.

## 2026-01-13

- Property Update (01/13/2026):
- Owner-Proposed Governance Vote for 22164 Umland Cir:
    - An owner with the following [wallet address](https://allo.info/account/GMKS3PVHQXRRRDHSRKIBLPC6GT267FFOBKEO237YBBDUZXQGR3CILYKGUU) is proposing a governance vote.
    - This owner holds 55 tokens in this property.
    - The owner's reasoning is below, word-for-word:
    - *Because this is an owner proposed vote, Lofty cannot change the content. It's up to owners to verify the accuracy of the claims below.
    - Due to ongoing negative cash flow, late mortgage payments made by the co-owner, and the mounting risk of mortgage default, I propose we allow Earl Vanze Co as Authorized Member to list and sell the property, allowing him to engage with a licensed broker if necessary. Earl shall be authorized to make all decisions regarding the listing, negotiation, and sale of the property, and settle all debts and financial affairs related to the property upon closing, provided that the sale nets at least $25 per token. As compensation for providing all managerial, administrative, and transaction coordination services through closing and to align interests in maximizing net sale proceeds, Earl shall be paid a fee of 1% of the sale price. The only limit placed on Earl's decision-making authority is that he is not allowed any self dealing and must not enrich himself at the expense of the DAO, except for the aforementioned compensation.
    - While selling in the current market will most likely create a loss for most token holders, I believe that continuing on the current course could lead to a total loss of our investment, if we end up in a fire sale or foreclosure situation.
    - Voting options:
    - 1. List and sell the property with the terms proposed.
    - 2. Do nothing.
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, January 20th, once the voting period ends.

## 2025-07-20

- Property Update (07/20/2025):
- The owner-elected Property Manager, Earl Co with ECO Systems LLC, has pro