LiquidValue Development Inc. reported a significant decline in financial performance for the first quarter of 2025, with revenues dropping to $11,209 compared to $5,045,402 in the same period of 2024. This decrease is attributed primarily to the completion of sales for the remaining properties in the Lakes at Black Oak and Alset Villas projects, which had previously generated substantial revenue. The company also recorded a net loss of $718,315 for the quarter, a stark contrast to the net income of $1,095,784 reported in the first quarter of 2024.
Operating expenses surged to $1,094,892 in the first quarter of 2025, up from $4,222,704 in the prior year, largely due to increased general and administrative costs, which rose from $310,757 to $1,089,779. This increase was driven by higher professional fees and the recognition of a $450,000 repayment to a purchaser who had mistakenly overpaid for lots in December 2024. The cost of revenue also saw a significant shift, with all costs in 2025 stemming from model home lease agreements, compared to the previous year when costs were associated with the Lakes at Black Oak project.
In terms of operational metrics, LiquidValue's total assets decreased to $38,108,615 as of March 31, 2025, down from $38,792,674 at the end of 2024. The company’s cash position improved slightly, with cash and restricted cash totaling $3,088,844, compared to $2,358,975 a year earlier. However, liabilities increased to $3,025,631 from $2,991,375, primarily due to a rise in accounts payable. The company continues to rely on financial support from its parent company, Alset Inc., which has committed to providing necessary funding for the next twelve months.
Looking ahead, LiquidValue Development Inc. anticipates collecting approximately $8 million in developer reimbursements related to its ongoing projects. The company is also exploring opportunities to lease its model homes following the termination of a previous lease agreement. Despite the current challenges, management remains optimistic about future cash flows and the potential for recovery as it navigates the real estate market. The company’s strategic focus will likely remain on managing its existing assets and seeking new revenue-generating opportunities in the real estate sector.
About LiquidValue Development Inc.
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