Awaysis Capital Reports Revenue Growth to $138,526 Despite Increased Net Loss

Awaysis Capital, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending December 31, 2024. The company generated revenue of $138,526 for the three months ended December 31, 2024, a substantial increase from $27,100 in the same period of the previous year. For the six months ending December 31, 2024, revenue reached $182,645, compared to $33,900 for the same period in 2023. This growth is attributed to the availability of rental units that were not operational in the prior year, as well as additional income from the recently acquired Chial Reserve assets.

Despite the increase in revenue, Awaysis Capital reported a net loss of $813,835 for the three months ended December 31, 2024, compared to a loss of $628,280 in the same quarter of 2023. For the six-month period, the net loss was $1,507,909, down from $4,160,108 in the previous year. The reduction in losses is primarily due to decreased general and administrative expenses, which fell from $4,165,972 in the first half of 2023 to $1,506,831 in 2024, largely due to the absence of significant bonuses paid in the prior year.

In terms of strategic developments, Awaysis Capital made a notable acquisition on December 31, 2024, when its subsidiary, Awaysis Belize Ltd., acquired Chial Mountain Ltd. This acquisition included substantial assets, such as approximately 63 acres of real property and 35 villas, which are expected to be developed into an Awaysis-branded residential enclave community. The total estimated purchase price for this acquisition was $5.5 million, financed through a combination of cash and convertible promissory notes.

Operationally, Awaysis Capital's total assets increased to $17,015,056 as of December 31, 2024, up from $12,483,146 at the end of June 2024. The company reported a significant rise in fixed assets, which grew to $5,286,575 from $853,940, reflecting ongoing investments in property development. The company’s cash balance, however, decreased to $34,684 from $745,991, indicating a need for careful cash management moving forward. The total liabilities also surged to $10,635,393, primarily due to increased borrowings from related parties and convertible notes.

Looking ahead, Awaysis Capital anticipates that its focus on developing and managing residential vacation home communities will continue to drive growth. The company plans to leverage its recent acquisitions and the increasing demand for vacation rentals to enhance its revenue streams. However, management has indicated that additional capital will be necessary to support ongoing operations and future growth initiatives, with expectations to raise funds through equity or debt offerings. The company remains optimistic about its strategic direction, aiming to capitalize on emerging market trends in the hospitality sector.