Awaysis Capital, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Awaysis Capital, Inc. has filed its 10-Q report for the period ending December 31, 2023, detailing its financial performance and position.</b>

AI Summary

Awaysis Capital, Inc. (AWCA) filed a Quarterly Report (10-Q) with the SEC on February 22, 2024. Awaysis Capital, Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the fiscal quarter and year-to-date period. The company's fiscal year ends on June 30. Awaysis Capital, Inc. is incorporated in Delaware. The company's business and mailing address is located in Miramar, Florida.

Why It Matters

For investors and stakeholders tracking Awaysis Capital, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial health and operational status for the most recent reporting period. Understanding the details within this 10-Q is crucial for assessing Awaysis Capital's performance and making informed investment decisions.

Risk Assessment

Risk Level: low — Awaysis Capital, Inc. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain unusual or high-risk disclosures.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Awaysis Capital's performance trends and future outlook.

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-22 — Filing Date (Filed as of date)
• 06-30 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• Awaysis Capital, Inc. (company) — Filer name
• AWCA (company) — Ticker symbol
• 2023-12-31 (date) — Conformed period of report
• 2024-02-22 (date) — Filed as of date
• Miramar, FL (location) — Business address city and state
• Delaware (location) — State of incorporation

FAQ

Industry Context

Awaysis Capital, Inc. operates in the real estate sector, specifically as operators of nonresidential buildings.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the balance sheet and income statement for the quarter ended December 31, 2023.
2. Review any disclosures related to related party transactions.
3. Compare the current period's financial data with prior periods to identify trends.

Key Dates

• 2024-02-22: 10-Q Filing — Reported financial results for the period ending 2023-12-31.

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Key Financial Figures

• $0.01 — 7,035 shares of common stock, par value $0.01 per share, outstanding. TABLE OF CONT

Filing Documents

• form10-q.htm (10-Q) — 542KB
• ex3-1.htm (EX-3.1) — 28KB
• ex3-2.htm (EX-3.2) — 10KB
• ex3-4.htm (EX-3.4) — 141KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• form10-q_001.jpg (GRAPHIC) — 15KB
• 0001493152-24-007549.txt (&nbsp;) — 3138KB
• awca-20231231.xsd (EX-101.SCH) — 21KB
• awca-20231231_cal.xml (EX-101.CAL) — 39KB
• awca-20231231_def.xml (EX-101.DEF) — 82KB
• awca-20231231_lab.xml (EX-101.LAB) — 199KB
• awca-20231231_pre.xml (EX-101.PRE) — 155KB
• form10-q_htm.xml (XML) — 302KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 20

Controls and Procedures

Item 4. Controls and Procedures 20

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 21

Risk Factors

Item 1A. Risk Factors 21

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 21

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 21

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 21

Other Information

Item 5. Other Information 21

Exhibits

Item 6. Exhibits 21

SIGNATURES

SIGNATURES 22 2 PART I Item 1. Financial Statements Awaysis Capital, Inc. Consolidated Balance Sheet December 31, June 30, 2023 2023 (Unaudited) (Audited) ASSETS Current assets Cash $ 12,173 $ 79 Prepaid expenses 33,248 17,201 Inventory 11,469,780 11,323,226 Total current assets 11,515,201 11,340,506 Non-current assets Fixed assets, net 45,506 49,028 Security deposit 14,500 14,500 Operating lease right-of-use 295,839 328,976 Total non-current assets 355,845 392,504 Total Assets $ 11,871,046 $ 11,733,010 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 101,406 44,859 Current portion of lease Liability 88,230 - Accrued expenses $ - $ 118,860 Due to related party 6,635,607 2,834,323 Notes payable 2,600,000 2,600,000 Total current liabilities 9,425,243 5,598,042 Operating lease liabilities 217,629 251,214 Total non-current liabilities 217,629 251,214 Total liabilities 9,642,872 5,849,256 Stockholders' equity: Preferred stock - 25,000,000 shares authorized $ 0.01 par value none issued and outstanding at December 31, 2023 and June 30, 2023, respectively - - Common stock – 1,000,000,000 shares authorized $ 0.01 par value issued and outstanding common shares at December 31, 2023 and June 30, 2023 were 302,237,035 and 252,227,053 , respectively 3,022,371 2,522,271 Common stock subscribed – $ 0.01 par value subscribed common shares at December 31, 2023 and June 30, 2023 were 943,000 and 943,000 , respectively 9,430 9,430 Additional paid-in capital 9,848,938 9,844,510 Accumulated deficit ( 9,709,565 ) ( 5,549,457 ) Subscription receivable ( 943,000 ) ( 943,000 ) Total stockholders' equity 2,228,174 5,883,754 Total Liabilities and Stockholders Equity 11,871,046 11,733,010 The accompanying notes are an integral part of these consolidated financial statements. 3 Awaysis Capital, Inc. Consolidated

Financial Statements

Financial Statements The accompanying unaudited interim condensed financial statements have been prepared in accordance with GAAP for interim financial information in accordance with Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation have been included. While we believe that the disclosures presented herein are adequate and not misleading, these interim condensed financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended June 30, 2023 included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023 and filed on October 17, 2023. Operating results for the interim period presented are not necessarily indicative of the results for the full year. 7 Use of Estimates 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. Cash and Cash Equivalents We maintain cash balances in a non-interest-bearing account and unrestricted cash in escrow that currently does not exceed federally insured limits. For the purposes of the statements of cash flows, all highly liquid investments with a maturity of three months or less are considered to be cash equivalents. As of December 31, 2023, our cash balance was $ 12,173 . Cash and cash equivalents are stated at amortized cost which approximates fair value. Fair Value Measurements ASC Topic 820, Fair Value Measurements and Disclosures ("ASC 820"), provides a comprehensive fra

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