旋翼物业 2026年季度报告

SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ____________ to ____________ Commission file number001-37547 (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company oremerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒Emerging growth company☐ Accelerated filer☐Smaller reporting 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 newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. On May 13, 2026, there were 2,199,308 common shares outstanding. Seq. PageForm 10-Q Cover1Index to Form 10-Q2PART I - FINANCIAL INFORMATION3Item 1. Financial Statements.3Consolidated Statements of Net Assets as of March 31, 2026 (liquidation basis and unaudited) and December 31, 2025(liquidation basis)3Consolidated Statement of Changes in Net Assets for the three months ended March 31, 2026 (liquidation basis and unaudited)4Notes to Consolidated Financial Statements (unaudited)5Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.18Item 3. Quantitative and Qualitative Disclosures About Market Risk.30Item 4. Controls and Procedures.31PART II - OTHER INFORMATION31Item 1. Legal Proceedings.31Item 6. Exhibits.32SIGNATURES34EXHIBIT INDEX352 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (LIQUIDATION BASIS) FOR THE THREE-MONTHS ENDED MARCH 31, 2026(unaudited) 1.The Company Strategic Overview Gyrodyne, LLC’s (including its subsidiaries, “Gyrodyne”, the “Company” or the “Registrant”) corporate strategy is to pursue entitlements on our tworemaining properties, so that they can be sold to one or more developers with increased development flexibility at higher prices, thereby maximizingvalue and distributions. Gyrodyne intends to dissolve after we complete the disposition of our assets, apply the proceeds to settle debts and claims, andthen pay liquidating distributions to our shareholders. Gyrodyne filed subdivision applications in March 2017 with respect to Cortlandt Manor and Flowerfield. The COVID-19 pandemic caused significantdelays in the regulatory approval process, as state, county and local staff charged with processing our subdivision applications all postponed activitydue to work-from-home transitions. Flowerfield On March 30, 2022, the Town of Smithtown Planning Board (the “Planning Board”) voted four to zero with one abstention to grant Gyrodyne’sapplication for preliminary approval to divide the Flowerfield property into eight lots, subject to certain conditions (the “Flowerfield SubdivisionApplication”). On April 26, 2022, the Incorporated Village of Head of the Harbor and certain other parties (collectively, the “Petitioners”), commenced a specialproceeding under Article 78 of New York’s Civil Practice Law & Rules (the “Article 78 Proceeding”) against the Town of Smithtown and certain otherparties, including Gyrodyne, seeking to annul the Planning Board’s determinations relating to the Flowerfield Subdivision Application. Specifically,the petition commencing the Article 78 Proceeding (the “Petition”) seeks to annul the Planning Board’s (i) approval of a findings statement pursuant tothe State Environmental Quality Review Act (“SEQRA”), dated September 16, 2021, and adopted by the Planning Board on March 30, 2022 (the“Findings Statement”), concern