First America Resources Corporation Reports Increased Net Loss and Strategic Shift to Real Estate Investments

First America Resources Corporation reported its financial results for the six months ending December 31, 2024, revealing a net loss of $35,158, compared to a net loss of $25,132 for the same period in 2023. The company’s total assets decreased significantly from $59,807 as of June 30, 2024, to $25,049 by the end of December 2024. This decline was primarily attributed to a reduction in cash and cash equivalents, which fell from $34,807 to $25,049. The accumulated deficit also widened to $507,120, up from $471,962 in the previous fiscal period.

In terms of operational performance, First America Resources did not report any revenue for the current period, maintaining a consistent trend from the previous year. The cost of goods sold was also reported as zero for both the current and prior six-month periods. The company’s selling, general, and administrative expenses contributed to the operating loss, which totaled $35,158 for the current period, reflecting a strategic focus on cost management despite the lack of revenue generation.

The company is undergoing a strategic shift, moving away from its previous focus on lithium-ion batteries to real estate investments. First America Resources is in the process of acquiring a commercial property located at 600 Wissahickon Ave, Cedartown, GA, which includes multiple tracts and a total of 100,000 square feet of industrial space. The anticipated value of this property is $250,000, and the company plans to leverage this acquisition to support its investment goals. However, the success of this strategy will depend on securing additional equity financing and ensuring that the property generates sufficient cash flow to cover operating costs.

As of December 31, 2024, the company’s total liabilities remained relatively stable at $232,845, compared to $232,445 in June 2024. The primary liabilities include accounts payable and loans from officers, which have not changed significantly. The company’s stockholders' deficit increased to $207,796, reflecting the ongoing losses and the lack of revenue generation. The company continues to operate with a consistent number of shares outstanding, totaling 7,964,090.

Looking ahead, First America Resources Corporation has indicated a commitment to expanding its real estate portfolio, contingent upon securing necessary financing. The company’s management has expressed optimism about the potential for future cash flow from real estate investments, which they believe could stabilize the financial position of the company. However, the lack of revenue and the increasing accumulated deficit present challenges that the company will need to address as it navigates this transition.