Kaya Holdings Files Q3 2024 10-Q
Ticker: KAYS · Form: 10-Q · Filed: Nov 22, 2024 · CIK: 1530746
Sentiment: neutral
Topics: 10-Q, financials, pharmaceuticals
Related Tickers: KAYS
TL;DR
Kaya Holdings (KAYS) Q3 2024 10-Q is in. Check financials for latest performance.
AI Summary
Kaya Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Alternative Fuels Americas, Inc., is in the pharmaceutical preparations industry. Financial details for the third quarter and the first nine months of 2024 are presented, including comparisons to the same periods in 2023.
Why It Matters
This filing provides investors with the latest financial performance and operational updates for Kaya Holdings, Inc., crucial for understanding the company's current standing and future prospects.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's risk profile.
Key Numbers
- Q3 2024 — Reporting Period (Financials for the third quarter of 2024 are detailed.)
- Nine Months Ended 2024-09-30 — Year-to-Date Period (Financials for the first nine months of 2024 are detailed.)
Key Players & Entities
- Kaya Holdings, Inc. (company) — Filer of the 10-Q
- Alternative Fuels Americas, Inc. (company) — Former name of Kaya Holdings, Inc.
- 2024-09-30 (date) — End of the reporting period
- 2024-11-22 (date) — Filing date
FAQ
What is the primary business of Kaya Holdings, Inc.?
Kaya Holdings, Inc. is classified under the Pharmaceutical Preparations industry (SIC code 2834).
When was this 10-Q filing submitted?
This 10-Q filing was submitted on November 22, 2024.
What is the fiscal year end for Kaya Holdings, Inc.?
The company's fiscal year ends on December 31.
What were the previous names of Kaya Holdings, Inc.?
Kaya Holdings, Inc. was formerly known as Alternative Fuels Americas, Inc. and Alternative Fuels America, Inc.
What period does this 10-Q report cover?
This 10-Q report covers the period ending September 30, 2024.
Filing Stats: 4,527 words · 18 min read · ~15 pages · Grade level 18.3 · Accepted 2024-11-22 16:53:06
Key Financial Figures
- $210,000 — mpany concluded the sale of Store 2 for $210,000, less a 6% closing commission and minor
- $75,000 — penses. After these expenses and paying $75,000 to resolve three non-performing store l
- $118,900 — ses in South Oregon, the Company netted $118,900. 10 Kaya Shack Store 3 and Kaya Shac
- $510,000 — cel in Lebanon, Linn County, Oregon for $510,000 on which we intended to construct a Gre
- $500,000 m — Notes "), one of which was secured by a $500,000 mortgage on the Property. CVC released it
- $500,000 — olders, without having to repay CVC the $500,000 Note held by CVC. Additionally, CVC agr
- $270,000 — perty (" Advances "), which amounted to $270,000 pending the sale of the Property. On Fe
- $769,500 — 023 we sold the Property for a price of $769,500, less commissions and customary closing
- $100,000 b — plus interest (including an additional $100,000 borrowed from another lender interest) an
- $302,000,000 — realized net proceeds of approximately $302,000,000. The land is reflected on the balance s
- $516,076 — r ended December 31, 2022 at a value of $516,076. The land was sold in 2023. On Septem
Filing Documents
- kays_10q.htm (10-Q) — 1409KB
- ex31_1.htm (EX-31.1) — 15KB
- ex32_1.htm (EX-32.1) — 5KB
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- 0001903596-24-000689.txt ( ) — 8132KB
- kays-20240930.xsd (EX-101.SCH) — 43KB
- kays-20240930_cal.xml (EX-101.CAL) — 65KB
- kays-20240930_def.xml (EX-101.DEF) — 105KB
- kays-20240930_lab.xml (EX-101.LAB) — 296KB
- kays-20240930_pre.xml (EX-101.PRE) — 229KB
- kays_10q_htm.xml (XML) — 1006KB
– Financial Information Page
Part I – Financial Information Page Item 1. Consolidated Financial Statements (unaudited) Page Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 4 Consolidated Statements of Operations for the three and nine- months ended September 30, 2024 and 2023 5 Consolidated 6 Consolidated 7 Consolidated 8
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 10 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3. Quantitative and Qualitative Disclosures About Market Risk 57 Item 4. Controls and Procedures 57 Part II Other Information Item 1. Legal Proceedings 59 Item 1A. Risk Factors 60 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 3. Defaults Upon Senior Securities 60 Item 4. Mine Safety Disclosures 60 Item 5. Other Information 60 Item 6. Exhibits 60
Signatures
Signatures 61 Cautionary Note Regarding Forward Looking Information contained in this Quarterly Report on Form 10-Q, as amended 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 September 30, 2024 and December
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 $118,900.