Kaya Holdings, Inc. Files Q2 2024 10-Q

Ticker: KAYS · Form: 10-Q · Filed: Aug 15, 2024 · CIK: 1530746

Sentiment: neutral

Topics: 10-Q, quarterly-report, pharmaceuticals

Related Tickers: KAYS

TL;DR

Kaya Holdings (KAYS) filed its Q2 10-Q. Check financials.

AI Summary

Kaya Holdings, Inc. filed its 10-Q for the quarter ended June 30, 2024. The company, previously known as Alternative Fuels Americas, Inc., is incorporated in Delaware and operates in the Pharmaceutical Preparations sector. Its principal executive offices are located in Fort Lauderdale, Florida.

Why It Matters

This filing provides investors with an update on Kaya Holdings, Inc.'s financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.

Key Players & Entities

FAQ

What is the filing date of this 10-Q report?

The filing date of this 10-Q report is August 15, 2024.

What period does this 10-Q report cover?

This 10-Q report covers the quarter ended June 30, 2024.

What was Kaya Holdings, Inc. formerly known as?

Kaya Holdings, Inc. was formerly known as Alternative Fuels Americas, Inc. and Alternative Fuels America, Inc.

In which state is Kaya Holdings, Inc. incorporated?

Kaya Holdings, Inc. is incorporated in Delaware.

What is the business address and phone number for Kaya Holdings, Inc.?

The business address is 915 Middle River Drive, Suite 316, Fort Lauderdale, Florida 33304, and the phone number is (954) 892-6911.

Filing Stats: 4,421 words · 18 min read · ~15 pages · Grade level 17 · Accepted 2024-08-15 09:30:38

Key Financial Figures

Filing Documents

– Financial Information Page

Part I – Financial Information Page Item 1. Consolidated Financial Statements (unaudited) Page Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 4 Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 5 of Comprehensive Income (Loss) for the three and six-months ended June 30, 2024 and 2023 6 Consolidated 7 of Stockholder's deficit for the three and six-months ended June 30, 2024 and 2023 8

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3. Quantitative and Qualitative Disclosures About Market Risk 54 Item 4. Controls and Procedures 54 Part II Other Information Item 1. Legal Proceedings 56 Item 1A. Risk Factors 58 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 58 Item 3. Defaults Upon Senior Securities 58 Item 4. Mine Safety Disclosures 58 Item 5. Other Information 58 Item 6. Exhibits 58

Signatures

Signatures 59 In this Quarterly Report on Form 10-Q, the terms "KAYS," "the Company," "we," "us" and "our" refer to Kaya Holdings, Inc. and its owned and controlled subsidiaries, unless the context indicates otherwise. Cautionary Note Regarding

Forward Looking Statements

Forward Looking Statements Information contained in this Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act"). These forward-looking statements are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend" or "project" or the negative of these words or other variations on these words or comparable terminology. The forward-looking in any forward-looking statements will come to pass. Moreover, our forward-looking statements are subject to various known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Except as required by applicable laws, we undertake no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. Available Information We file annual, quarterly and special reports and other information with the Securities and Exchange Commission ("SEC") that can be obtained from the SEC by telephoning 1-800-SEC-0330. The Company's filings are also available through the SEC's Electronic Data Gathering Analysis and Retrieval System, known as EDGAR, through the SEC's website (www.sec.gov). Kaya Holdings, Inc. and Subsidiaries Consolidated Balance Sheets June 30, 2024 and December 31, 2023 ASSETS (Unaudited) (Audited) June 30, 2024

Business

Business In January 2014, KAYS incorporated MJAI, a wholly owned subsidiary, to focus on opportunities in the legal recreational and medical marijuana in the United On July 3, 2014 opened its first Kaya Shack MMD in Portland, Oregon. Between April of 2014 and December 31, 2023, KAYS owned and operated four (4 ) Kaya Shack retail cannabis medical and recreational dispensaries, three (3) Medical Marijuana Grow sites licensed by the OHA and two (2) Recreational Marijuana grow sites licensed by the OLCC (all in Oregon). The statuses of these operations are as follows: The first Kaya Shack (Kaya Shack Store 1) opened in 2014 in Portland, Oregon at the same address as an Oregon Liquor and Cannabis Commission (OLCC) licensed medical and recreational marijuana retailer. On March 11, 2024, the Company notified the Oregon Liquor Control Commission (the "OLCC") that we were temporarily closing this location. The Company is currently evaluating redeploying this remaining dispensary license to serve as a delivery hub for Portland residents, tourists and The Sacred Mushroom guests, among others. Kaya Shack Store 2 was closed in December, 2022 as part of a sale and surrender agreement that the Company entered into with the OLCC to resolve an Administrative Action filed by the OLCC (as previously disclosed in the Company's Annual Report on form 10-K for the period ending December 31, 2021 filed on April 18, 2022 and in the Company's Quarterly report for the period ending March 31, 2022 filed on May 16, 2022). Per the terms of the agreement the Company agreed to either enter into a purchase and sale agreement for its retail license in South Salem by February 1, 2023 (the renewal date) or surrender the license. On April 21, 2023 the Company concluded the sale of Store 2 for $ 210,000 , less a 6% closing commission and minor closing expenses. After these expenses and paying $ 75,000 to resolve three non-performing store leases in South Oregon, the Company netted $ 118,

View Full Filing

View this 10-Q filing on SEC EDGAR

View on Read The Filing