$AWCA
Awaysis Capital, Inc.

2023 Q1 Form 10-Q Financial Statement

#000149315223005630 Filed on February 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q2
Revenue $60.80K $43.76K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.602M $1.914M $92.34K
YoY Change 1310.01% 12400.65%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.00 $750.00
YoY Change
% of Gross Profit
Operating Expenses $1.602M $1.914M $92.34K
YoY Change 1310.01% 12399.02%
Operating Profit -$1.541M -$1.870M
YoY Change 1256.5% 12113.23%
Interest Expense $0.00 $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.541M -$1.870M -$92.34K
YoY Change 1256.49% 12113.23%
Income Tax
% Of Pretax Income
Net Earnings -$1.541M -$1.870M -$92.34K
YoY Change 1256.49% 12113.23%
Net Earnings / Revenue -2534.49% -4273.51%
Basic Earnings Per Share -$0.01 -$0.02
Diluted Earnings Per Share -$0.01 -$0.02 $0.00
COMMON SHARES
Basic Shares Outstanding 202.0M shares 100.1M shares
Diluted Shares Outstanding 183.1M shares 117.6M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.90K $0.00 $482.0K
YoY Change
Cash & Equivalents $27.90K $482.0K
Short-Term Investments
Other Short-Term Assets $80.91K $7.740K $2.500K
YoY Change
Inventory $11.14M $11.14M $11.41M
Prepaid Expenses $65.68K $7.739K $2.500K
Receivables
Other Receivables $15.23K
Total Short-Term Assets $11.25M $11.15M $11.89M
YoY Change 5946882.5%
LONG-TERM ASSETS
Property, Plant & Equipment $78.51K $44.57K $22.15K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.50K $14.50K
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $438.1K $420.1K $22.15K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $11.25M $11.15M $11.89M
Total Long-Term Assets $438.1K $420.1K $22.15K
Total Assets $11.69M $11.57M $11.92M
YoY Change 5957955.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.90K $123.0K $41.97K
YoY Change -34.58% 2977.03% 113.7%
Accrued Expenses $2.179M $1.808M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.600M $2.600M $2.880M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.055M $4.654M $2.934M
YoY Change 4001.12% 48125.51% 11379.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $267.3K $283.2K
YoY Change
Total Long-Term Liabilities $267.3K $283.2K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.055M $4.654M $2.934M
Total Long-Term Liabilities $267.3K $283.2K
Total Liabilities $5.322M $4.937M $2.934M
YoY Change 4218.03% 51060.25% 11379.35%
SHAREHOLDERS EQUITY
Retained Earnings -$5.064M -$3.523M -$1.254M
YoY Change 23.65%
Common Stock $2.522M $1.519M $997.5K
YoY Change 0.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.369M $6.635M $8.982M
YoY Change
Total Liabilities & Shareholders Equity $11.69M $11.57M $11.92M
YoY Change 5957955.0%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q2
OPERATING ACTIVITIES
Net Income -$1.541M -$1.870M -$92.34K
YoY Change 1256.49% 12113.23%
Depreciation, Depletion And Amortization $800.00 $750.00
YoY Change
Cash From Operating Activities -$277.4K -$101.8K -$106.3K
YoY Change 1193.05% 2186.74%
INVESTING ACTIVITIES
Capital Expenditures $34.74K $7.660K $22.15K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$34.74K -$7.660K -$22.15K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 340.0K 89.99K 610.4K
YoY Change 1485.13% 1922.25%
NET CHANGE
Cash From Operating Activities -277.4K -101.8K -106.3K
Cash From Investing Activities -34.74K -7.660K -22.15K
Cash From Financing Activities 340.0K 89.99K 610.4K
Net Change In Cash 27.91K -19.43K 482.0K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$277.4K -$101.8K -$106.3K
Capital Expenditures $34.74K $7.660K $22.15K
Free Cash Flow -$312.1K -$109.4K -$128.4K
YoY Change

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us-gaap Nature Of Operations
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<p id="xdx_80E_eus-gaap--NatureOfOperations_zHSqDouo0Ovj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_828_zTTQz4BRrlzb">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Awaysis Capital, Inc., a Delaware corporation, (“Awaysis”, “the Company”, “we”, “us” or “our’) is real estate investment and management company focused on acquisition, construction, selling and managing short term 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. The goal is to create 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. The company is licensed as a real estate corporation in Florida.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; 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. 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-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zltem8uKsSjb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86C_zTp5KLjA9grd">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.50 pure
us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
43760 usd
CY2022Q4 us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
43760 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
11144500 usd
CY2022Q4 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
83795 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
94295 usd
CY2022Q4 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
4834 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
87478 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
964 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
-0 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
44569 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 usd
us-gaap Depreciation
Depreciation
964 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
122958 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3996 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1808092 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
0 usd
CY2022Q4 AWCA Operating Lease Liability Current Including Accrued Expenses
OperatingLeaseLiabilityCurrentIncludingAccruedExpenses
86714 usd
CY2022Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
122712 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
5657 usd
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
1500000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
11409500 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
2600000 usd
CY2021Q4 us-gaap Notes Payable Current
NotesPayableCurrent
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
43107 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
87465 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
89003 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
90588 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
92220 usd
CY2022Q4 AWCA Lessee Operating Lease Liability Payments Due After Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFour
31113 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
433496 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
63580 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
369916 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
86714 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
283202 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
29284 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
0 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070 pure
us-gaap Legal Fees
LegalFees
0 usd

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