Awaysis Capital, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Awaysis Capital, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial activities and corporate history.</b>

AI Summary

Awaysis Capital, Inc. (AWCA) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Awaysis Capital, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on June 30. Awaysis Capital, Inc. was formerly known as JV GROUP, INC., ASPI, INC., and ASPEON INC. The company's business address is 3400 LAKESIDE DR, SUITE 100, MIRAMAR, FL 33027. The filing covers the period from January 1, 2024, to March 31, 2024, and compares it to the same period in 2023.

Why It Matters

For investors and stakeholders tracking Awaysis Capital, Inc., this filing contains several important signals. This filing provides a snapshot of Awaysis Capital's financial performance and position as of Q1 2024, crucial for investors assessing its current health. Understanding the company's historical name changes and its SIC code (Operators of Nonresidential Buildings) offers context for its business operations and industry classification.

Risk Assessment

Risk Level: low — Awaysis Capital, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags, indicating a low level of immediate risk from this report alone.

Analyst Insight

Review the detailed financial statements within the 10-Q to understand revenue, expenses, and balance sheet changes for the quarter.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-05-15 — Filing Date (Filed as of Date)
• 0630 — Fiscal Year End (Fiscal Year End)
• 6512 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Awaysis Capital, Inc. (company) — Filer name
• JV GROUP, INC. (company) — Former company name
• ASPI, INC. (company) — Former company name
• ASPEON INC (company) — Former company name
• 3400 LAKESIDE DR (location) — Business address street 1
• MIRAMAR (location) — Business address city
• FL (location) — Business address state
• 33027 (location) — Business address zip

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive update on the company's financial performance and position during the quarter.)

SIC Code

Standard Industrial Classification code used to categorize businesses by industry. (Helps to understand the company's primary business activities and industry sector.)

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) — 564KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• form10-q_001.jpg (GRAPHIC) — 3KB
• 0001493152-24-019845.txt (&nbsp;) — 3180KB
• awca-20240331.xsd (EX-101.SCH) — 22KB
• awca-20240331_cal.xml (EX-101.CAL) — 42KB
• awca-20240331_def.xml (EX-101.DEF) — 87KB
• awca-20240331_lab.xml (EX-101.LAB) — 213KB
• awca-20240331_pre.xml (EX-101.PRE) — 164KB
• form10-q_htm.xml (XML) — 376KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION I tem 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 19

Controls and Procedures

Item 4. Controls and Procedures 19

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 20

Risk Factors

Item 1A. Risk Factors 20

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 20

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 20

Other Information

Item 5. Other Information 20

Exhibits

Item 6. Exhibits 20

Signatures

Signatures 21 2 PART I Item 1. Financial Statements Awaysis Capital, Inc. Consolidated Balance Sheet March 31, 2024 June 30, 2023 (Unaudited) (Audited) ASSETS Current assets Cash $ 12,803 $ 79 Accounts Receivable 118 - Prepaid expenses 23,043 17,201 Inventory 11,412,946 11,323,226 Total current assets 11,448,910 11,340,506 Non-current assets Fixed assets, net 44,530 49,028 Escrow Deposit - Real Estate 5,000 - Security deposit 14,500 14,500 Operating lease right-of-use 278,846 328,976 Total non-current assets 342,876 392,504 Total Assets $ 11,791,786 $ 11,733,010 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 131,210 44,859 Security Deposit Liability 1,700 - Current portion of lease Liability 88,617 - Accrued expenses $ - $ 118,860 Due to related party 8,270,691 2,834,323 Notes payable 2,600,000 2,600,000 Total current liabilities 11,092,218 5,598,042 Operating lease liabilities 200,284 251,214 Total non-current liabilities 200,284 251,214 Total liabilities 11,292,502 5,849,256 Stockholders' equity: Preferred stock - 25,000,000 shares authorized $ 0.01 par value none issued and outstanding at March 31, 2024 and June 30, 2023, respectively - - Common stock – 1,000,000,000 shares authorized $ 0.01 par value issued and outstanding common shares at March 31, 2024 and June 30, 2023 were 352,237,035 and 252,227,035 , respectively 3,522,371 2,522,271 Common stock subscribed – $ 0.01 par value subscribed common shares at March 31, 2024 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 ( 11,938,455 ) ( 5,549,457 ) Subscription receivable ( 943,000 ) ( 943,000 ) Total stockholders' equity 499,284 5,883,754 Total Liabilities and Stockholders Equity 11,791,786 11,733,010 The accompanying notes are an integral part of thes

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. 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 March 31, 2024 and June 30, 2023, our cash balance was $ 12,803 and $ 79 .00, respectively. Cash and cash equivalents are stated at amortized cost which approximates fair value. Fair Value Measurements ASC Topic 820, Fair Value Measurements and Disclosures ("AS

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View this 10-Q filing on SEC EDGAR