Aureus Greenway Holdings Inc (NASDAQ: PUSA) is a golf and recreational club company that owns and operates two public golf country clubs in Florida. Revenue comes from four streams at each property: golf operations, food and beverage sales, merchandise sales, and ancillary income. The two clubs, Kissimmee Bay Country Club and Remington Golf Club, sit on over 289 acres of multi-service recreational property in the greater Orlando, Florida region and were acquired in 2014. Combined, the courses span over 13,000 yards of fairways, with clubhouses offering food and beverage service, aquatic golf ranges, and pro shops. Common stock began trading on NASDAQ on February 12, 2025. For the year ended December 31, 2025, net cash used in operating activities was approximately $2,028,348, with a net loss of $3,677,030. Salaries and benefits increased by $2,576,740 (356%) year-over-year, primarily driven by $1,890,958 in stock-based compensation.

Revenue model

Transactional revenue across four streams at each club: golf operations, food and beverage sales, merchandise sales, and ancillary income. Food and beverage is described as a high-margin area with a target net margin of approximately 20%. No subscription or membership fee revenue model is specified in the filing.

Products and services

Golf course play at two 18-hole public country clubs (Kissimmee Bay Country Club and Remington Golf Club). Clubhouse food and beverage service including on-site dining and bar service. Beverage cart service (seasonal). Pro shop merchandise sales. Aquatic golf ranges. Golf instruction, outings, and tournament organization. Banquet and social function facilities for weddings, corporate events, and parties.

Customers and end markets

Golfers of all skill levels in the greater Orlando, Florida region make up the primary customer base. Secondary customers include hospitality and dining guests using clubhouse restaurants and bars, and groups booking banquet or social function facilities. The company targets multiple demographic groups with a focus on building customer loyalty.

Value-chain role

Direct owner and operator of recreational golf facilities. Acquires, maintains, and operates physical club properties including courses, clubhouses, pro shops, and food service operations. No franchising or management-contract model is described in the filing.

Geographic exposure

All operations are located in Florida, specifically in the greater Orlando region, as of the 10-K filed 2026-03-31.

Source: SEC 10-K, filed 2026-03-31

Industry: Services-Membership Sports & Recreation Clubs