$AWCA
Awaysis Capital, Inc.

2023 Q2 Form 10-Q Financial Statement

#000149315223018272 Filed on May 19, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q2
Revenue $3.200K $60.80K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $489.5K $1.602M $92.34K
YoY Change 430.15% 1310.01%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $990.00 $800.00
YoY Change
% of Gross Profit
Operating Expenses $489.5K $1.602M $92.34K
YoY Change 430.15% 1310.01%
Operating Profit -$1.541M
YoY Change 1256.5%
Interest Expense $610.00 $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$485.7K -$1.541M -$92.34K
YoY Change 426.02% 1256.49%
Income Tax
% Of Pretax Income
Net Earnings -$485.7K -$1.541M -$92.34K
YoY Change 426.02% 1256.49%
Net Earnings / Revenue -15179.06% -2534.49%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share $0.00 -$0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 252.0M shares 202.0M shares
Diluted Shares Outstanding 183.1M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.00 $27.90K $482.0K
YoY Change -99.98%
Cash & Equivalents $79.00 $27.90K $482.0K
Short-Term Investments
Other Short-Term Assets $17.20K $80.91K $2.500K
YoY Change 588.0%
Inventory $11.32M $11.14M $11.41M
Prepaid Expenses $17.20K $65.68K $2.500K
Receivables
Other Receivables $15.23K
Total Short-Term Assets $11.34M $11.25M $11.89M
YoY Change -4.65% 5946882.5%
LONG-TERM ASSETS
Property, Plant & Equipment $49.03K $78.51K $22.15K
YoY Change 121.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.50K $14.50K
YoY Change
Other Assets $14.50K
YoY Change
Total Long-Term Assets $392.5K $438.1K $22.15K
YoY Change 1672.43%
TOTAL ASSETS
Total Short-Term Assets $11.34M $11.25M $11.89M
Total Long-Term Assets $392.5K $438.1K $22.15K
Total Assets $11.73M $11.69M $11.92M
YoY Change -1.54% 5957955.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.86K $62.90K $41.97K
YoY Change 6.89% -34.58% 113.7%
Accrued Expenses $118.9K $2.179M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.600M $2.600M $2.880M
YoY Change -9.72%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.598M $5.055M $2.934M
YoY Change 90.77% 4001.12% 11379.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $251.2K $267.3K
YoY Change
Total Long-Term Liabilities $251.2K $267.3K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.598M $5.055M $2.934M
Total Long-Term Liabilities $251.2K $267.3K
Total Liabilities $5.849M $5.322M $2.934M
YoY Change 99.33% 4218.03% 11379.35%
SHAREHOLDERS EQUITY
Retained Earnings -$5.549M -$5.064M -$1.254M
YoY Change 342.54% 23.65%
Common Stock $2.522M $2.522M $997.5K
YoY Change 152.86% 0.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.884M $6.369M $8.982M
YoY Change
Total Liabilities & Shareholders Equity $11.73M $11.69M $11.92M
YoY Change -1.54% 5957955.0%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q2
OPERATING ACTIVITIES
Net Income -$485.7K -$1.541M -$92.34K
YoY Change 426.02% 1256.49%
Depreciation, Depletion And Amortization $990.00 $800.00
YoY Change
Cash From Operating Activities $408.9K -$277.4K -$106.3K
YoY Change -484.69% 1193.05%
INVESTING ACTIVITIES
Capital Expenditures -$3.500K $34.74K $22.15K
YoY Change -115.8%
Acquisitions
YoY Change
Other Investing Activities $25.00K
YoY Change
Cash From Investing Activities $28.50K -$34.74K -$22.15K
YoY Change -228.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -465.2K 340.0K 610.4K
YoY Change -176.22% 1485.13%
NET CHANGE
Cash From Operating Activities 408.9K -277.4K -106.3K
Cash From Investing Activities 28.50K -34.74K -22.15K
Cash From Financing Activities -465.2K 340.0K 610.4K
Net Change In Cash -27.83K 27.91K 482.0K
YoY Change -105.77%
FREE CASH FLOW
Cash From Operating Activities $408.9K -$277.4K -$106.3K
Capital Expenditures -$3.500K $34.74K $22.15K
Free Cash Flow $412.4K -$312.1K -$128.4K
YoY Change -421.08%

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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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us-gaap Repayments Of Debt
RepaymentsOfDebt
280000 usd
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24257 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
100000 usd
AWCA Proceeds From Subscription Receivable
ProceedsFromSubscriptionReceivable
250000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Nature Of Operations
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<p id="xdx_801_eus-gaap--NatureOfOperations_zS2PLIU3lym4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_823_zDbUSq0E6Zuh">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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. 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: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
us-gaap Use Of Estimates
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<p id="xdx_848_eus-gaap--UseOfEstimates_z4QRHN2B3tek" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86D_zswSfidzseW5">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27900 usd
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
475387 shares
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
112557 usd
CY2022Q4 us-gaap Shares Issued
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51653125 shares
CY2023Q1 us-gaap Restricted Stock Award Forfeitures
RestrictedStockAwardForfeitures
1000000 usd
CY2023Q1 AWCA Vesting Of Shares Granted Percentage
VestingOfSharesGrantedPercentage
0.50 pure
CY2023Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
22500000 shares
us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.50 pure
CY2023Q1 us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
27400 usd
us-gaap Proceeds From Rents Received
ProceedsFromRentsReceived
71160 usd
CY2023Q1 us-gaap Regulated Operating Revenue Field Services
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33400 usd
us-gaap Regulated Operating Revenue Field Services
RegulatedOperatingRevenueFieldServices
33400 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
11144500 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.32
CY2023Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
20777 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
115071 usd
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
25079 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
112557 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27900 usd
CY2023Q1 us-gaap Common Stock Share Subscribed But Unissued Subscriptions Receivable
CommonStockShareSubscribedButUnissuedSubscriptionsReceivable
943000 usd
CY2023Q1 AWCA Proceeds From Subscription Receivable
ProceedsFromSubscriptionReceivable
250000 usd
CY2023Q1 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
100000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1763 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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-0 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
78512 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 usd
us-gaap Depreciation
Depreciation
1763 usd
CY2023Q1 us-gaap Accounts Payable Current
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62897 usd
CY2022Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
96150 usd
CY2023Q1 us-gaap Accrued Liabilities Current
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2179024 usd
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CY2023Q1 AWCA Operating Lease Liability Current Including Accrued Expenses
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87090 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
212712 usd
CY2022Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
5923 usd
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
1800000 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
11409500 usd
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
2600000 usd
CY2022Q1 us-gaap Notes Payable Current
NotesPayableCurrent
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
21554 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
87465 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
89003 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
90588 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
92220 usd
CY2023Q1 AWCA Lessee Operating Lease Liability Payments Due After Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFour
31113 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
411943 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
57514 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
354429 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
87090 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
267339 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
51246 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
0 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y7M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.070 pure
us-gaap Legal Fees
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0 usd
CY2023Q1 us-gaap Preferred Stock Shares Authorized
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25000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
252227053 shares
CY2023Q1 us-gaap Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
943000 shares

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