$AWCA
Awaysis Capital, Inc.

2022 Q4 Form 10-K Financial Statement

#000149315222030675 Filed on November 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q2 2022
Revenue $43.76K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.914M $92.34K $239.9K
YoY Change 12400.65%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $750.00
YoY Change
% of Gross Profit
Operating Expenses $1.914M $92.34K $239.9K
YoY Change 12399.02% 1894.93%
Operating Profit -$1.870M -$239.9K
YoY Change 12113.23% 1894.93%
Interest Expense $0.00 $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.870M -$92.34K -$239.9K
YoY Change 12113.23% 1552.89%
Income Tax
% Of Pretax Income
Net Earnings -$1.870M -$92.34K -$239.9K
YoY Change 12113.23% 1552.89%
Net Earnings / Revenue -4273.51%
Basic Earnings Per Share -$0.02 $0.00
Diluted Earnings Per Share -$0.02 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 100.1M shares 98.96M shares
Diluted Shares Outstanding 117.6M shares 98.96M shares

Balance Sheet

Concept 2022 Q4 2022 Q2 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $482.0K $482.0K
YoY Change
Cash & Equivalents $482.0K $482.0K
Short-Term Investments
Other Short-Term Assets $7.740K $2.500K $2.500K
YoY Change
Inventory $11.14M $11.41M $11.41M
Prepaid Expenses $7.739K $2.500K
Receivables
Other Receivables
Total Short-Term Assets $11.15M $11.89M $11.89M
YoY Change 5946882.5%
LONG-TERM ASSETS
Property, Plant & Equipment $44.57K $22.15K $22.15K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.50K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $420.1K $22.15K $22.14K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $11.15M $11.89M $11.89M
Total Long-Term Assets $420.1K $22.15K $22.14K
Total Assets $11.57M $11.92M $11.92M
YoY Change 5957955.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $123.0K $41.97K $41.97K
YoY Change 2977.03% 113.7%
Accrued Expenses $1.808M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.600M $2.880M $2.880M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.654M $2.934M $2.934M
YoY Change 48125.51% 11379.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $283.2K
YoY Change
Total Long-Term Liabilities $283.2K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.654M $2.934M $2.934M
Total Long-Term Liabilities $283.2K $0.00
Total Liabilities $4.937M $2.934M $2.934M
YoY Change 51060.25% 11379.35%
SHAREHOLDERS EQUITY
Retained Earnings -$3.523M -$1.254M
YoY Change 23.65%
Common Stock $1.519M $997.5K
YoY Change 0.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.635M $8.982M $8.982M
YoY Change
Total Liabilities & Shareholders Equity $11.57M $11.92M $11.92M
YoY Change 5957955.0%

Cashflow Statement

Concept 2022 Q4 2022 Q2 2022
OPERATING ACTIVITIES
Net Income -$1.870M -$92.34K -$239.9K
YoY Change 12113.23% 1552.89%
Depreciation, Depletion And Amortization $750.00
YoY Change
Cash From Operating Activities -$101.8K -$106.3K -$157.6K
YoY Change 2186.74% 2561.57%
INVESTING ACTIVITIES
Capital Expenditures $7.660K $22.15K $22.15K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$7.660K -$22.15K -$22.15K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $625.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 89.99K 610.4K $661.8K
YoY Change 1922.25% 11072.63%
NET CHANGE
Cash From Operating Activities -101.8K -106.3K -$157.6K
Cash From Investing Activities -7.660K -22.15K -$22.15K
Cash From Financing Activities 89.99K 610.4K $661.8K
Net Change In Cash -19.43K 482.0K $482.0K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$101.8K -$106.3K -$157.6K
Capital Expenditures $7.660K $22.15K $22.15K
Free Cash Flow -$109.4K -$128.4K -$179.8K
YoY Change 2935.46%

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<p id="xdx_805_eus-gaap--NatureOfOperations_zRpWzACoMkge" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_822_zlUFIVX3j2ac">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Nature of Business</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Awaysis Capital, Inc. (formerly known as JV Group, Inc.), a Delaware corporation, (“Awaysis”, “JV Group”, “the Company”, “we”, “us” or “our’) is a publicly quoted shell company transitioning to an operating company. We are a real estate investment and management company focused on acquisition, construction, selling and managing rentals of residential vacation home communities in desirable travel destinations. We seek to create value through the targeting and acquisition, development, and up-cycling, rebranding, and repositioning of currently undervalued operating and shovel ready residential/resort communities in global travel destinations, with the intention to relaunch these assets under the “Awaysis” brand with the goals of creating a network of residential and resort enclave communities that will optimize both sales and rental revenues, providing attractive returns to owners and exceptional vacation experiences to travelers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s principal executive office is located at 3400 Lakeside Dr, Miramar, FL 33027.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Company History</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">JV Group was formed in Delaware on September 29, 2008 under the name ASPI, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 18, 2022, we changed our name from JV Group, Inc. to Awaysis Capital, Inc. In connection with this name change, we changed our ticker symbol from “ASZP” to “AWCA” and effective May 25, 2022, we began trading on the OTC Market under our new symbol.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2021, we formed a wholly owned subsidiary, Awaysis Capital, LLC, a Florida single member limited liability corporation to hold the office lease and to become the master payroll company for Awaysis Capital Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We also formed a wholly owned subsidiary, Awaysis Casamora Limited, a Belize single member limited liability corporation to hold the title to the acquisition of the Casamora assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From October 2015 to February 2022, we were a publicly quoted shell company seeking to merge with an entity with experienced management and opportunities for growth in return for shares of our common stock to create values for our shareholders. In February 2022, the Board of Directors of the Company determined to pursue a business strategy of acquiring, developing and managing residential vacation home communities in desirable travel destinations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s principal executive office is located at 3400 Lakeside Drive, Suite 100, Miramar, FL 33027 and its main number is 855-795-3377. The Company’s website address is www.awaysisgroup.com.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2020 the World Health Organization declared COVID-19 a pandemic. The Company is still assessing the impact COVID-19 may have on its business, but there can be no assurance that this analysis will enable the Company to avoid part or all of any impact from the spread of COVID-19 or its consequences, including downturns in business sentiment generally. The extent to which the COVID-19 pandemic and global efforts to contain its spread will impact the Company’s operations will depend on future developments, which are highly uncertain and cannot be predicted at this time, and include the duration, severity and scope of the pandemic and the actions taken to contain or treat the COVID-19 pandemic.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We currently have not been directly impacted by the Covid-19 outbreak due to our limited operations. However, management believes the effect of the pandemic outbreak on the global economy has driven demand for vacation home ownership and remote work at home while travelling. The Company believes that this will enhance its ability to raise funding for working capital and other needs and to attract an experienced management team to take advantage of the opportunities for growth.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_841_eus-gaap--UseOfEstimates_zlltmYjKfTBk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_zb0Dt5jo17F6">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
99748541 shares
CY2022Q2 us-gaap Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
58056334 shares
CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
42736 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
481965 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
11409500 usd
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
44800 usd
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
0 usd
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
481965 usd
CY2022Q2 us-gaap Common Stock Share Subscribed But Unissued Subscriptions Receivable
CommonStockShareSubscribedButUnissuedSubscriptionsReceivable
1193000 usd
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
41970 usd
CY2021Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
19640 usd
CY2022Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
12497 usd
CY2021Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
5923 usd
CY2022Q2 us-gaap Notes Payable
NotesPayable
2880000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
11409500 usd
CY2022 us-gaap Legal Fees
LegalFees
0 usd
CY2021 us-gaap Legal Fees
LegalFees
0 usd
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
99748541 shares

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