Creative Media & Community Trust Corp 2025年度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF1934For the fiscal year ended December 31, 2025OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact Name of Registrant as Specified in Its Charter) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☒ 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 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements 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 and posted 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 and post 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, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. 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 new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflectthe correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any ofthe registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).Indicate by check mark whether the registrant is a shell company (as defined by Rule12b-2 of the Act.)Yes☐No☒ As of June30, 2025, the aggregate market value of the voting common stock held by non-affiliates of the registrant, computed by reference to the average high andlow sales prices on the Nasdaq Capital Market as of the close of business on June30, 2025, was approximately $5.6 million. The registrant does not have any nonvotingcommon equities. As of March2, 2026, the registrant had outstanding2,699,686 shares of common stock, par value $0.001 per share. Documents Incorporated by ReferencePart III of this Annual Report on Form 10-K incorporates by reference specified portions of an amendment to this Annual Report on Form 10-K or Creative Media & Community Trust Corporation’s Proxy Statement for its 2026 Annual Meeting of Stockholders, which the registrant anticipates will be filed with the Securities and ExchangeCommission no later than April 30, 2026. CREATIVE MEDIA & COMMUNITY TRUST CORPORATION2025ANNUAL REPORT ON FORM 10-K PARTIItem1.Business2Item1A.Risk Factors8Item1B.Unresolved Staff Comments42Item2.Properties44Item3.Legal Proceedings49Item4.Mine Safety Disclosures49PART IIItem5.Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities50Item6.Reserved51Item7.Management’s Discussion and Analysis of Financial Condition and Results of Operations51Item7A.Quantitative and Qualitative Disclosures About Market Risk64Item8.Financial Statements and Supplementary Data64Item9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure64Item9A.Controls and Procedures64Item9B.Other Information67Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections67PART IIIItem10.Directors, Executive Officers and Corporate Governance68Item11.Executive Compensation68Item12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters68Item13.Certain Relationships and Related Transactions, and Director Independence68Item14.Principal Accountant Fees and Services68PART IVItem15.Exhibits and Financial Statement Schedules69Item 16.Form 10-K Summary73 Forward-Looking Statements This Annual Report on Form10-K contains certain f