2024 Q2 Form 10-Q Financial Statement
#000149315224019845 Filed on May 15, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q2 |
---|---|---|---|
Revenue | $8.630K | $8.148K | $3.200K |
YoY Change | 169.69% | -86.6% | |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $643.6K | $2.237M | $489.5K |
YoY Change | 31.47% | 39.66% | 430.15% |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $27.49K | $980.00 | $990.00 |
YoY Change | 2676.77% | 22.5% | |
% of Gross Profit | |||
Operating Expenses | $643.6K | $2.237M | $489.5K |
YoY Change | 31.47% | 39.66% | 430.15% |
Operating Profit | -$2.229M | ||
YoY Change | 44.64% | ||
Interest Expense | -$47.38K | $610.00 | |
YoY Change | -7867.21% | ||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$704.5K | -$2.229M | -$485.7K |
YoY Change | 45.04% | 44.64% | 426.02% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$704.5K | -$2.229M | -$485.7K |
YoY Change | 45.04% | 44.64% | 426.02% |
Net Earnings / Revenue | -8163.15% | -27355.06% | -15179.06% |
Basic Earnings Per Share | -$0.01 | ||
Diluted Earnings Per Share | $0.00 | -$0.01 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 352.2M shares | 302.2M shares | 252.0M shares |
Diluted Shares Outstanding | 302.0M shares |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 | 2023 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $746.0K | $12.80K | $80.00 |
YoY Change | 932387.5% | -54.12% | -99.98% |
Cash & Equivalents | $746.0K | $12.80K | $79.00 |
Short-Term Investments | |||
Other Short-Term Assets | $2.930K | $23.04K | $17.20K |
YoY Change | -82.97% | -71.52% | 588.0% |
Inventory | $10.59M | $11.41M | $11.32M |
Prepaid Expenses | $2.931K | $23.04K | $17.20K |
Receivables | $4.284K | $118.00 | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $11.35M | $11.45M | $11.34M |
YoY Change | 0.07% | 1.74% | -4.65% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $853.9K | $44.53K | $49.03K |
YoY Change | 1641.74% | -43.28% | 121.4% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $14.50K | ||
YoY Change | |||
Other Assets | $19.50K | $19.50K | $14.50K |
YoY Change | 34.48% | ||
Total Long-Term Assets | $1.135M | $342.9K | $392.5K |
YoY Change | 189.17% | -21.74% | 1672.43% |
TOTAL ASSETS | |||
Total Short-Term Assets | $11.35M | $11.45M | $11.34M |
Total Long-Term Assets | $1.135M | $342.9K | $392.5K |
Total Assets | $12.48M | $11.79M | $11.73M |
YoY Change | 6.39% | 0.86% | -1.54% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $98.20K | $131.2K | $44.86K |
YoY Change | 118.9% | 108.61% | 6.89% |
Accrued Expenses | $73.20K | $118.9K | |
YoY Change | -38.42% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $2.637M | $2.600M | $2.600M |
YoY Change | 1.41% | 0.0% | -9.72% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $3.553M | $11.09M | $5.598M |
YoY Change | -36.54% | 119.45% | 90.77% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $182.7K | $200.3K | $251.2K |
YoY Change | -27.29% | -25.08% | |
Total Long-Term Liabilities | $182.6K | $200.3K | $251.2K |
YoY Change | -27.29% | -25.08% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.553M | $11.09M | $5.598M |
Total Long-Term Liabilities | $182.6K | $200.3K | $251.2K |
Total Liabilities | $3.735M | $11.29M | $5.849M |
YoY Change | -36.14% | 112.19% | 99.33% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$12.64M | -$11.94M | -$5.549M |
YoY Change | 127.82% | 135.76% | 342.54% |
Common Stock | $3.840M | $3.522M | $2.522M |
YoY Change | 52.23% | 39.65% | 152.86% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $8.748M | $499.3K | $5.884M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $12.48M | $11.79M | $11.73M |
YoY Change | 6.39% | 0.86% | -1.54% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$704.5K | -$2.229M | -$485.7K |
YoY Change | 45.04% | 44.64% | 426.02% |
Depreciation, Depletion And Amortization | $27.49K | $980.00 | $990.00 |
YoY Change | 2676.77% | 22.5% | |
Cash From Operating Activities | $492.2K | $505.2K | $408.9K |
YoY Change | 20.38% | -282.13% | -484.69% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $859.1K | $0.00 | -$3.500K |
YoY Change | -24644.29% | -100.0% | -115.8% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | $25.00K |
YoY Change | -100.0% | ||
Cash From Investing Activities | -$859.1K | $0.00 | $28.50K |
YoY Change | -3114.21% | -100.0% | -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 | 1.100M | -504.5K | -465.2K |
YoY Change | -336.45% | -248.39% | -176.22% |
NET CHANGE | |||
Cash From Operating Activities | 492.2K | 505.2K | 408.9K |
Cash From Investing Activities | -859.1K | 0.000 | 28.50K |
Cash From Financing Activities | 1.100M | -504.5K | -465.2K |
Net Change In Cash | 733.2K | 630.0 | -27.83K |
YoY Change | -2734.5% | -97.74% | -105.77% |
FREE CASH FLOW | |||
Cash From Operating Activities | $492.2K | $505.2K | $408.9K |
Capital Expenditures | $859.1K | $0.00 | -$3.500K |
Free Cash Flow | -$366.8K | $505.2K | $412.4K |
YoY Change | -188.95% | -261.86% | -421.08% |
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|
500000 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2228890 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
499284 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8981643 | usd |
CY2022Q3 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
82644 | usd |
CY2022Q3 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
1.00 | |
CY2022Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
100000 | usd |
CY2022Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
100000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-398656 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8765631 | usd |
CY2022Q4 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
4834 | usd |
CY2022Q4 | AWCA |
Shares Subscribed Adjustment On Acquisition Value
SharesSubscribedAdjustmentOnAcquisitionValue
|
265000 | usd |
CY2022Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1870090 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6635375 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6635375 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
25079 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
1000000 | usd |
CY2023Q1 | AWCA |
Stock Issued During Period Decrease In Subscriptions Value
StockIssuedDuringPeriodDecreaseInSubscriptionsValue
|
250000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1540971 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6369483 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6369483 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-6388997 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-3809717 | usd | |
us-gaap |
Depreciation
Depreciation
|
2649 | usd | |
us-gaap |
Depreciation
Depreciation
|
1763 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1004528 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
112557 | usd | |
AWCA |
Restricted Stock Expenses
RestrictedStockExpenses
|
1000000 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
50130 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
36709 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
118 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
5842 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
63176 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
89721 | usd | |
AWCA |
Increase Decrease In Escrow Deposit Real Estate
IncreaseDecreaseInEscrowDepositRealEstate
|
5000 | usd | |
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
14500 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
5436368 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-15231 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
86351 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
20927 | usd | |
us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
1700 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-31395 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
2091934 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-49778 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-27416 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
10875 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-666150 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
58130 | usd | |
us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
1849 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
1849 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-58130 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
200215 | usd | |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
280000 | usd | |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
100000 | usd | |
AWCA |
Proceeds From Subscription Receivable
ProceedsFromSubscriptionReceivable
|
250000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
270215 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
12724 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-454065 | usd | |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
79 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
481965 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
12803 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
27900 | usd |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_801_eus-gaap--NatureOfOperations_z5RyVVj67904" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_827_zokXRbGgNO84">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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; margin-left: 0"><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; margin-left: 0"><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; margin-left: 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 a real estate management and hospitality company focused on acquisition, redevelopment, sales, 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in; 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; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increased global trends towards “work from home” opportunities <span style="background-color: white">has impacted both residency and travel. We believe that more people are seeking comfortable and convenient places to travel, visit, and live for extended durations. We seek to capitalize on these trends by transforming residential/resort properties in desirable locations into convenient enclaves that facilitate this type of travel or residency. We define an enclave as a gated community that has all the amenities that will allow a person to live, work and play without having to leave the community.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in; 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; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At least initially, our target acquisitions are resorts that have not been completed nor have a prior operational history. As such we intend to purchase the real estate and finish the development, then we would sell the finished units and put them in a rental pool that we would manage.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We seek to own and grow a stable, cash generating, diversified portfolio of single-family and luxury resort/residence properties in the Caribbean, Europe, South America, and the United States.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in; 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; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are a licensed real estate corporation in the State of Florida and maintain compliance with the Florida Real Estate Commission, the entity that regulates companies providing real estate services such as rentals, management, and sales. Additionally, our business is subject to federal, state, local and foreign laws, rules, and regulations that may vary depending on the geographical location and classification of our individual properties. Hospitality operations are also subject to compliance with the U.S. Americans with Disabilities Act and other laws and regulations relating to accessibility, and to laws, regulations and standards in other areas such as zoning and land use, licensing, permitting and registrations, safety, environmental and other property condition matters, staffing and employee training, and cleanliness/sanitation protocols.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in; 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; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our business strategy entails targeting and identifying undervalued assets in emerging markets located in proximity to high demand travel destinations. The Company intends to focus these efforts on shovel-ready properties and/or other assets that we believe can be used to optimize sales and rental revenues. We have currently identified five properties in Belize, all of which are expected to constitute our initial real estate portfolio. To that effect, on June 30, 2022, we closed on the acquisition of certain real estate assets in San Pedro, Belize (the “Casamora Awaysis Assets”), pursuant to our previously announced series of Agreements of Purchase and Sale, all dated April 15, 2022. The total consideration paid by us for the properties subject to the agreements was at the appraisal value of $<span id="xdx_90B_eus-gaap--BusinessCombinationConsiderationTransferred1_pn5n6_c20220630__20220630__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_z1lEph613725" title="Total consideration">11.4</span> million (excluding transaction costs and fees) and was settled in a combination of a Purchase Money Mortgage of $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pn5n6_c20220630__20220630__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_z4fkSvutGDv6">2.6</span> million at <span id="xdx_905_esrt--DemandDepositLiabilitiesInterestBearingAverageRatePaid_dp_uPure_c20220630__20220630__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zrylx8mFReM6" title="Interest rate payable">0</span>% interest rate, payable on demand, a Purchase Money Mortgage of $<span id="xdx_908_eus-gaap--PaymentsToPurchaseMortgageLoansHeldForSale_pp0p0_c20220808__20220808__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zTcLJcsb8T1j" title="Purchase of mortgage">280,000</span> at <span id="xdx_908_esrt--DemandDepositLiabilitiesInterestBearingAverageRatePaid_dp_uPure_c20220808__20220808__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zlYb6uap6nkk" title="Interest rate payable">0</span>% interest rate that was paid on August 8, 2022 and <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pn5n6_c20220808__20220808__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zc5GVsEpGUt6" title="Number of shares issued">56.8 </span>million shares of the Company’s common stock based on a per share price equal to the market price on the date of appraisal of $<span id="xdx_900_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20220808__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zurIjlZUYH3h" title="Share price per share">0.150</span>. As the first acquisition by the Company in Belize and an important milestone, the Company expects to rebrand the Casamora Awaysis Assets, so it is easily identifiable as an Awaysis Property and fit perfectly with its strategy of creating a countrywide network of Awaysis residential enclave communities in the country.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company 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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 18, 2022, the Company changed its 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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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; margin-left: 0; text-align: justify"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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; margin-left: 0; text-align: justify"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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; margin-left: 0"><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; margin-left: 0; text-align: justify"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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; margin-left: 0; text-align: justify"><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 style="background-color: white">The information contained on, or that can be accessed through, our website is not incorporated by reference and is not a part of this </span>Quarterly Report on Form 10-Q.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_849_eus-gaap--UseOfEstimates_zklwDhFkEtJe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86D_zdpBdwSXCwy6">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><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; margin-left: 0; text-align: justify"><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; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2024Q4 | us-gaap |
Cash
Cash
|
12803 | usd |
CY2023Q2 | us-gaap |
Cash
Cash
|
79 | usd |
us-gaap |
Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
|
0.50 | pure | |
CY2024Q1 | us-gaap |
Proceeds From Rents Received
ProceedsFromRentsReceived
|
4448 | usd |
us-gaap |
Proceeds From Rents Received
ProceedsFromRentsReceived
|
13048 | usd | |
CY2024Q1 | us-gaap |
Regulated Operating Revenue Field Services
RegulatedOperatingRevenueFieldServices
|
3700 | usd |
us-gaap |
Regulated Operating Revenue Field Services
RegulatedOperatingRevenueFieldServices
|
29000 | usd | |
CY2024Q1 | us-gaap |
Inventory Real Estate
InventoryRealEstate
|
11412946 | usd |
CY2024Q1 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
4295 | usd |
us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
32331 | usd | |
CY2024Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
131210 | usd |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares | |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
12803 | usd |
CY2024Q1 | us-gaap |
Common Stock Share Subscribed But Unissued Subscriptions Receivable
CommonStockShareSubscribedButUnissuedSubscriptionsReceivable
|
943000 | usd |
us-gaap |
Proceeds From Contributed Capital
ProceedsFromContributedCapital
|
0 | usd | |
CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
5396 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1763 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
44530 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
78512 | usd |
us-gaap |
Depreciation
Depreciation
|
2649 | usd | |
us-gaap |
Depreciation
Depreciation
|
1763 | usd | |
CY2023Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
62897 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
2179024 | usd |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y7M6D | |
CY2022Q2 | us-gaap |
Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
|
11409500 | usd |
CY2024Q1 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
2600000 | usd |
CY2023Q1 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
2600000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P5Y | |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
21929 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
89003 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
90588 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
92220 | usd |
CY2024Q1 | AWCA |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
31113 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
324853 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
35953 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
288900 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
288900 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
88617 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
200284 | usd |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
65888 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
51246 | usd | |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.070 | pure |
us-gaap |
Legal Fees
LegalFees
|
0 | usd | |
CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
25000000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2024Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
1000000000 | shares |
CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2024Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
352237035 | shares |
CY2024Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
352237035 | shares |
CY2024Q1 | us-gaap |
Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
|
943000 | shares |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
|
8529500 | usd |
CY2022Q4 | AWCA |
Share Subscribed Adjustment For Acquisition Shares
ShareSubscribedAdjustmentForAcquisitionShares
|
5210209 | shares |
CY2022Q4 | AWCA |
Shares Subscribed Adjustment On Acquisition Value
SharesSubscribedAdjustmentOnAcquisitionValue
|
265000 | usd |
CY2024Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
500000 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
504528 | usd | |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
1000000 | usd |
CY2023Q1 | AWCA |
Vesting Of Shares Granted Percentage
VestingOfSharesGrantedPercentage
|
0.50 | pure |
CY2023Q4 | AWCA |
Vesting Of Shares Granted Percentage
VestingOfSharesGrantedPercentage
|
0.50 | pure |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
50000000 | usd |
CY2024Q1 | AWCA |
Vesting Of Shares Granted Percentage
VestingOfSharesGrantedPercentage
|
1 | pure |
CY2024Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
50000000 | shares |
CY2023Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
22500000 | shares |
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 |