UPDATES.md

# Property Updates

## 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: $0.00
    - Operating Expenses: -$5,609.70
    - NOI: -$5,609.70
    - Net Operating Cashflow: -$5,609.70

    - 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: $1,103.40 (Lofty curr_maintenance_reserve)
    - ECO Operating Cash: -$4,019.18 (ECO Systems General Ledger Column E (27 rows))

## 2026-04-06

- **Property Update (04/06/2026):**
    - Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
    - Yhome Net Due TO DAO: $103,569.36
    - Lofty Operating Cash: $12,070.89
    - ECO Operating Cash: $4,979.57
    - Outstanding Liabilities (Unpaid Bills): $0.00
    - DAO Net Cash (Capital Call): $220,243.25
    - Estimated Owners' Equity: $82,328.00
    - DAO Estimated NAV Per Token: $85.76
    - DAO Tokens: 4819
    - Current PM: YHOME

## 2026-04-01

- **Property Update (04/01/2026):**
    - Aligned Statement Analysis (Jan 1 - Dec 31, 2025):
    - 4318 Clybourne Ave (Main Unit):
    - Rent collection through December 2025: Tenant paid $500/month (main unit)
    - Last rent receipt: December 2, 2025
    - Owner shown on statement: Calixte Duffaut
    - Property manager shown: Aligned Properties
    - Management fees paid through December 2025 to Aligned Properties
    - Inter-Property Transfers Sent (Withheld by Aligned for Debt Recovery):
    - Jul 17, 2025: $953.84 transferred to 3139 West Blvd
    - Oct 15, 2025: $1,012.01 transferred to 1845 W 48th
    - Oct 15, 2025: $325.27 transferred to 1845 W 48th
    - Oct 15, 2025: $279.71 transferred to 3139 West Blvd
    - Total transfers out: $2,570.83
    - 4318 Clybourne Ave (Rear Unit):
    - Rent collection through December 2025: Tenant paid $695/month (rear unit)
    - Last rent receipt: December 2, 2025 (prepaid)
    - Inter-Property Transfers Sent (Withheld by Aligned for Debt Recovery):
    - Jul 17, 2025: $2,426.50 transferred to 3139 West Blvd
    - Oct 15, 2025: $135.80 transferred to 1845 W 48th
    - Total transfers out: $2,562.30
    - Combined Clybourne Transfers Out: $5,133.13
    - These transfers represent debt recovery by Aligned Properties — funds withheld from Clybourne to cover debts Cal Duffaut refused to pay, redirected to other indebted properties in the portfolio.
    - Statement generated Jan 22, 2026; no post-Dec 2025 data available
    - Source: Aligned Properties Owner Statement (Jan 1 - Dec 31, 2025)

## 2025-09-16

- **Property Update (09/16/2025):**
    - Governance Results for 4318 Clybourne Ave:
    - The Governance Voting results are back for the owner-proposed vote.
    - The winning vote is:
    - Approve DAO-led Refinance as outlined. DAO keeps the property.
    - This option was declared the winner in Round 1 with 1,740 token votes via the Ranked Choice Voting method.
    - The voting results can be found on chain [here](https://allo.info/application/3215994830) or by searching the application ID: 3215994830

## 2025-09-11

- **Property Update (09/11/2025):**
    - Owner-Proposed Governance Vote for 4318 Clybourne Ave:
    - The property manager, Earl Co with ECO Systems LLC the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2URUTBJSEPB3377SIKHFCFMGQEEFAJ3E5TYDM), is proposing a governance vote.
    - The property manager holds 0 tokens in this property.
    - Their 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.
    - [View Proposal to Approve Mortgage or Refinance Agreement](https://www.dropbox.com/scl/fi/mf92kr0c5a7if2wm64td1/Proposal-to-Approve-Mortgage-Agreement-4318-Clybourne-Ave-Cleveland-OH-44109.docx?rlkey=eehe47igcxcg2l1os21jx2jll&e=2&dl=0)
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, September 16th, once the voting period ends.

## 2025-06-13

- **Property Update (06/13/2025):**
    - Please be advised that as of June 1, 2025, ECO Systems LLC, the Property Manager, no longer has access to this property on the Aligned AppFolio dashboard or any of its Owner Financial Statements. Due to its status as having been deeded to Yhome Nursing LLC, this property has switched back to Calixte Duffaut outside of ECO Systems or DAO approval. This also means that Yhome continues to receive net rents for this property. Owners may reach out directly to Nathan Fisher at Aligned Properties Group for any questions or concerns.
    - Refinance proceeds and security deposits totaling $105,718.87 is currently being withheld by Calixte Duffaut.
    - DAO Funds Lent to EARLDAO: $111,268.87 (Includes additional $5,550 lent out of May distributions).
    - Property Reserve held by Aligned: $1,350
    - Cash held by ECO Systems: $11.77 as of 6/13/2025
    - DAO Net Cash: $111,280.75
    - [View Owner Statement](https://www.dropbox.com/scl/fi/dkbj9rvpal2o0flja4d6r/Owner-Statement-2025-05-4318-Clybourne-Ave-Cleveland-OH-44109.pdf?rlkey=qp6k97qo1e7tg2sdywihd3jg6&dl=0)
    - [View Financial Reconciliation Details](https://www.dropbox.com/scl/fi/0yf0syxxxm58zpguib5nz/Yhome-Transition-Reconciliation.xlsx?rlkey=4rurmo3m2swur63oxq0hafr01&dl=0)
    - The Operating Reserve structure and related information will be updated upon completion of the property management transition from Yhome Nursing LLC to ECO Systems LLC.

## 2025-05-27

- **Property Update (05/27/2025):**
    - Governance Results for 4318 Clybourne Ave:
    - The Governance Voting results are back for the owner-proposed vote.
    - The winning vote is:
    - Option 1 - Contribute 100% of Suggested Cash to Lend: Authorize the DAO to contribute its eligible surplus funds to EARLDAO for use as a lending pool, supporting repairs, insurance, and delinquent tax payments for eligible DAOs. 12% APR & 1-year maturity.
    - This option was declared the winner in Round 1 with 823 token votes via the Ranked Choice Voting method.
    - The voting results can be found on chain [here](https://allo.info/application/3020321509) or by searching the application ID: 3020321509

## 2025-05-21

- **Property Update (05/21/2025):**
    - The Governance Voting results are back for the owner-proposed governance votes by ECO Systems LLC.
    - The winning vote for 4318 Clybourne St is:
    - YES – Approve the creation of a Lending DAO and transition plan as described above, and request Lofty to review, amend, and execute the cease-and-desist letter to Yhome.
    - This voting option was declared the winner in Round 1 with 802 token votes via the Ranked Choice Voting method.
    - The voting results can be found on chain [here](https://allo.info/application/3007602199) or by searching the application ID: 3007602199


- **Property Update (05/21/2025):**
    - Owner-Proposed Governance Vote for 4318 Clybourne Ave:
    - Earl Co with ECO Systems LLC, who has the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2URUTBJSEPB3377SIKHFCFMGQEEFAJ3E5TYDM), has proposed a governance vote.
    - The owner proposing this vote holds 1 token 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.
    - Subject: Contribution of Surplus Funds to EARLDAO for Lending to DAO LLCs in Need of Short - Term Capital
    - [View Governance Proposal](https://www.dropbox.com/scl/fi/aqgqlo1vobeprfrl1nr07/EARLDAO_Lender_DAO_Proposal.docx?rlkey=n3gm38rxstyafyakm13dafpr0&e=2&dl=0)
    - [View Summary](https://www.dropbox.com/scl/fi/878plu5tzeb4f1rmgrzxs/EARLDAO-Lender-DAO-Proposal.png?rlkey=krhvm6eyj2ih96yl4094j1z32&e=2&dl=0)
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to all owners on Tuesday, May 27th once the voting period ends.

## 2025-05-12

- **Property Update (05/12/2025):**
    - Governance Results for 4318 Clybourne Ave:
    - The Governance Voting results are back for the two owner-proposed votes.
    - The first winning vote is:
    - Hire ECO Systems LLC (Earl) as Transaction Coordinator for a flat $1000 consulting fee.
    - This option was declared the winner in Round 3 with 695 token votes via the Ranked Choice Voting method.
    - The voting results can be found on chain [here](https://allo.info/application/2990326383) or by searching the application ID: 2990326383
    - The second winning vote is:
    - Transition PM duties to ECO Systems LLC @ 15% PM Fee, 1-month tenant placement fee, no upcharges on repairs, and no unauthorized loans. Full managerial authority previously granted to Calixte Duffaut shall be nullified.
    - This option was declared the winner in Round 1 with 1,119 token votes via the Ranked Choice Voting method.
    - The voting results can be found on chain [here](https://allo.info/application/2990344213) or by searching the application ID: 2990344213

## 2025-05-06

- **Property Update (05/06/2025):**
    - The property manager, Yhome Nursing LLC, provided an update for owners:
    - Dear Investors in Clybourne,
    - Even amidst the recent challenges and attacks against Yhome, I want to assure you that our core strategy remains focused on profit at the point of purchase. Throughout this period, Yhome has actively identified multiple properties and made two offers—one was not accepted, and the other is currently pending ( waiting to see if the would accept the offer)
    - It’s important to understand that Yhome does not buy properties just for the sake of acquisition or to list them on the platform. Our belief is that the true profit is realized at the time of purchase. Due to the current situation, we had to pause our activities temporarily, but I will be sending you my detailed proposal as soon as possible.
    - Furthermore, the accusation that I acted without approval is completely unfounded. I had the authority to make these decisions, and I provided everyone with the opportunity to opt out if they did not want to follow the current plan. This was voted on and approved.
    - My ultimate goal is to find a fair and transparent resolution for all DAOs, starting with full disclosure of all relevant information. If needed, you are welcome to reach out directly to Lofty for further clarification.
    - again, no new property will be bought without a vote. i will only present to you an option that is viable ( like a signed contract with a time to make the initial deposit and if the vote pass then we will go to work)
    - Thank you for your trust and understanding.

## 2025-05-04

- **Property Update (05/04/2025):**
    - Owner-Proposed Governance Vote:
    - An owner with the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2URUTBJSEPB3377SIKHFCFMGQEEFAJ3E5TYDM) has proposed a governance vote.
    - The owner proposing this vote holds 1 token 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.
    - Fellow investors,
    - It has recently come to our attention via Discord that this property has undergone a refinance which consequently also caused the [deed to be granted](https://www.dropbox.com/scl/fi/5e68x5voae2fltnbvn1dt/Quitclaim-Deed-TO-Yhome-4318-Clybourne-Ave-Cleveland-OH-44109.pdf?rlkey=vmr7ag2vl37tacdfsg