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of Contents](#icea7daa2c6454fb393f7fb4d4b4ba8bc_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nFORM 10-Q\n\n(Mark One)\n\nx QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nor\n\no TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from ___________ to ____________\n\nCommission File Number: 001-37997\n\nSACHEM CAPITAL CORP.\n\n(Exact name of registrant as specified in its charter)\n\nNew York81-3467779\n\n(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)\n\n568 East Main Street, Branford, CT 06405\n\n(Address of principal executive offices)\n\n(203) 433-4736\n\n(Registrant’s telephone number, including area code)\n\n_______________________________________________________________________\n\n(Former name, former address and former fiscal year, if changed since last report)\n\nIndicate 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 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 filing requirements for the past 90 days.    x     Yes    o    No\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation 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).    x    Yes    o    No\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer oAccelerated filer o\n\nNon-accelerated filerxSmaller reporting company x\n\nEmerging growth company ☐\n\nIf 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 revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    o\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    o     Yes    x    No\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTicker symbol(s)Name of each exchange on which registered\n\nCommon shares, par value $0.001 per share\nSACH\nNYSE American LLC\n\n6.00% Notes due 2026SCCD\nNYSE American LLC\n\n6.00% Notes due 2027SCCE\nNYSE American LLC\n\n7.125% Notes due 2027SCCF\nNYSE American LLC\n\n8.00% Notes due 2027SCCG\nNYSE American LLC\n\n7.75% Series A Cumulative Redeemable Preferred Stock, Liquidation Preference $25.00 per shareSACHPRA\nNYSE American LLC\n\nAs of May 18, 2026, the Issuer had a total of 47,955,647 common shares, $0.001 par value per share, outstanding.\n\n[Table of Contents](#icea7daa2c6454fb393f7fb4d4b4ba8bc_7)\n\nSACHEM CAPITAL CORP.\n\nTABLE OF CONTENTS\n\n[Part I](#icea7daa2c6454fb393f7fb4d4b4ba8bc_10)\n\n[FINANCIAL INFORMATION](#icea7daa2c6454fb393f7fb4d4b4ba8bc_10)\n\nPage Number\n\n[Item 1.](#icea7daa2c6454fb393f7fb4d4b4ba8bc_13)\n\n[Financial Statements](#icea7daa2c6454fb393f7fb4d4b4ba8bc_13)\n\n[Condensed Consolidated Balance Sheets as of](#icea7daa2c6454fb393f7fb4d4b4ba8bc_16)[March 31, 2026](#icea7daa2c6454fb393f7fb4d4b4ba8bc_16)[(unaudited) and December 31, 202](#icea7daa2c6454fb393f7fb4d4b4ba8bc_16)5\n\n[1](#icea7daa2c6454fb393f7fb4d4b4ba8bc_16)\n\n[Condensed Consolidated Statements of Operations for the Three](#icea7daa2c6454fb393f7fb4d4b4ba8bc_19)[Months Ended](#icea7daa2c6454fb393f7fb4d4b4ba8bc_19)[March 31, 2](#icea7daa2c6454fb393f7fb4d4b4ba8bc_19)[026 and](#icea7daa2c6454fb393f7fb4d4b4ba8bc_19)[2025](#icea7daa2c6454fb393f7fb4d4b4ba8bc_19)[(unaudited)](#icea7daa2c6454fb393f7fb4d4b4ba8bc_19)\n\n[2](#icea7daa2c6454fb393f7fb4d4b4ba8bc_19)\n\n[Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Three](#icea7daa2c6454fb393f7fb4d4b4ba8bc_25)[M](#icea7daa2c6454fb393f7fb4d4b4ba8bc_25)[onths Ended](#icea7daa2c6454fb393f7fb4d4b4ba8bc_25)[March 31,](#icea7daa2c6454fb393f7fb4d4b4ba8bc_25)[2026 and](#icea7daa2c6454fb393f7fb4d4b4ba8bc_25)[2025](#icea7daa2c6454fb393f7fb4d4b4ba8bc_25)[(unaudited)](#icea7daa2c6454fb393f7fb4d4b4ba8bc_25)\n\n[3](#icea7daa2c6454fb393f7fb4d4b4ba8bc_25)\n\n[Condensed Consolidated Statements of Cash Flows for the](#icea7daa2c6454fb393f7fb4d4b4ba8bc_28)[Three](#icea7daa2c6454fb393f7fb4d4b4ba8bc_28)[Months Ended](#icea7daa2c6454fb393f7fb4d4b4ba8bc_28)[March 31, 2026 and](#icea7daa2c6454fb393f7fb4d4b4ba8bc_28)[2](#icea7daa2c6454fb393f7fb4d4b4ba8bc_28)[025](#icea7daa2c6454fb393f7fb4d4b4ba8bc_28)[(unaudited)](#icea7daa2c6454fb393f7fb4d4b4ba8bc_28)\n\n[4](#icea7daa2c6454fb393f7fb4d4b4ba8bc_28)\n\n[Notes to Condensed Consolidated Financial Statements (unaudited)](#icea7daa2c6454fb393f7fb4d4b4ba8bc_31)\n\n[6](#icea7daa2c6454fb393f7fb4d4b4ba8bc_31)\n\n[Item 2.](#icea7daa2c6454fb393f7fb4d4b4ba8bc_97)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#icea7daa2c6454fb393f7fb4d4b4ba8bc_97)\n\n[25](#icea7daa2c6454fb393f7fb4d4b4ba8bc_97)\n\n[Item 3.](#icea7daa2c6454fb393f7fb4d4b4ba8bc_118)\n\n[Quantitative and Qualitative Disclosures about Market Risk](#icea7daa2c6454fb393f7fb4d4b4ba8bc_118)\n\n[37](#icea7daa2c6454fb393f7fb4d4b4ba8bc_118)\n\n[Item 4.](#icea7daa2c6454fb393f7fb4d4b4ba8bc_121)\n\n[Controls and Procedures](#icea7daa2c6454fb393f7fb4d4b4ba8bc_121)\n\n[37](#icea7daa2c6454fb393f7fb4d4b4ba8bc_121)\n\n[Part II](#icea7daa2c6454fb393f7fb4d4b4ba8bc_124)\n\n[OTHER INFORMATION](#icea7daa2c6454fb393f7fb4d4b4ba8bc_124)\n\n[I](#icea7daa2c6454fb393f7fb4d4b4ba8bc_641)[tem](#icea7daa2c6454fb393f7fb4d4b4ba8bc_641)[1A.](#icea7daa2c6454fb393f7fb4d4b4ba8bc_641)\n\n[R](#icea7daa2c6454fb393f7fb4d4b4ba8bc_641)[isk](#icea7daa2c6454fb393f7fb4d4b4ba8bc_641)[Factors](#icea7daa2c6454fb393f7fb4d4b4ba8bc_641)\n\n[39](#icea7daa2c6454fb393f7fb4d4b4ba8bc_641)\n\n[Item 6.](#icea7daa2c6454fb393f7fb4d4b4ba8bc_127)\n\n[Exhibits](#icea7daa2c6454fb393f7fb4d4b4ba8bc_127)\n\n[42](#icea7daa2c6454fb393f7fb4d4b4ba8bc_127)\n\n[SIGNATURES](#icea7daa2c6454fb393f7fb4d4b4ba8bc_130)\n\n[46](#icea7daa2c6454fb393f7fb4d4b4ba8bc_130)\n\nEXHIBITS\n\ni\n\n[Table of Contents](#icea7daa2c6454fb393f7fb4d4b4ba8bc_7)\n\nCAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS\n\nThis Quarterly Report on Form 10-Q (this “Report”) for the three months ended March 31, 2026 includes forward-looking statements. All statements other than statements of historical facts contained in this Report, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements. The words “anticipate,” “estimate,” “expect,” “project,” “plan,” “seek,” “intend,” “believe,” “may,” “might,” “will,” “should,” “could,” “likely,” “continue,” “design,” and the negative of such terms and other words and terms of similar expressions are intended to identify forward-looking statements.\n\nWe have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to numerous risks, uncertainties and assumptions, some of which are described in our 2025 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”). In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this Report may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.\n\nYou should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. In addition, neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. We disclaim any duty to update any of these forward-looking statements after the date of this Report to confirm these statements in relationship to actual results or revised expectations.\n\nAll forward-looking statements attributable to us are expressly qualified in their entirety by these cautionary statements as well as others made in this Report. You should evaluate all forward-looking statements made by us in the context of these risks and uncertainties.\n\nUnless the context otherwise requires, all references in this Report to “Sachem Capital,” “we,” “us” and “our” refer to Sachem Capital Corp., a New York corporation.\n\nii\n\n[Table of Contents](#icea7daa2c6454fb393f7fb4d4b4ba8bc_7)\n\nPART I.        FINANCIAL INFORMATION"}