La Rosa Holdings Corp. Files 2023 Annual Report

Ticker: LRHC · Form: 10-K · Filed: Apr 16, 2024 · CIK: 1879403

La Rosa Holdings CORP. 10-K Filing Summary
FieldDetail
CompanyLa Rosa Holdings CORP. (LRHC)
Form Type10-K
Filed DateApr 16, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.0001, $47.5, $2.4
Sentimentneutral

Sentiment: neutral

Topics: annual-report, sec-filing, compliance

Related Tickers: LRHC

TL;DR

LRHC filed its 2023 10-K, all good on filings.

AI Summary

La Rosa Holdings Corp. filed its annual report for the fiscal year ended December 31, 2023. The company's common stock is traded on The Nasdaq Stock Market LLC under the symbol LRHC. The filing indicates that La Rosa Holdings Corp. has met its filing requirements for the past 12 months and 90 days, and has submitted all required Interactive Data Files electronically.

Why It Matters

This 10-K filing provides investors with a comprehensive overview of La Rosa Holdings Corp.'s financial performance and operational status for the fiscal year 2023.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not contain immediate red flags or significant negative disclosures.

Key Players & Entities

FAQ

What is the primary purpose of this Form 10-K filing for La Rosa Holdings Corp.?

The primary purpose is to provide an annual report for the fiscal year ended December 31, 2023, detailing the company's financial performance and operations.

On which stock exchange is La Rosa Holdings Corp.'s common stock traded, and what is its trading symbol?

La Rosa Holdings Corp.'s common stock is traded on The Nasdaq Stock Market LLC under the trading symbol LRHC.

Has La Rosa Holdings Corp. met its filing requirements for the past 12 months and 90 days?

Yes, the filing indicates that La Rosa Holdings Corp. has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months and has been subject to such filing requirements for the past 90 days.

Did La Rosa Holdings Corp. submit all required Interactive Data Files electronically?

Yes, the filing indicates that La Rosa Holdings Corp. has submitted electronically every Interactive Data File required by Rule 405 of Regulation S-T during the preceding 12 months.

What is the principal executive office address for La Rosa Holdings Corp.?

The principal executive offices are located at 1420 Celebration Blvd., 2nd floor, Celebration, Florida, 34747.

Filing Stats: 4,619 words · 18 min read · ~15 pages · Grade level 14.7 · Accepted 2024-04-16 16:17:31

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 13

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 32

Cybersecurity

Item 1C. Cybersecurity 32

Properties

Item 2. Properties 33

Legal Proceedings

Item 3. Legal Proceedings 33

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33 PART II 34

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 34

[Reserved]

Item 6. [Reserved] 36

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

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 36

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 45

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data F-1

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 46

Controls and Procedures

Item 9A. Controls and Procedures 46

Other Information

Item 9B. Other Information 46

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 46 PART III 47

Directors, Executive Officers, and Corporate Governance

Item 10. Directors, Executive Officers, and Corporate Governance 47

Executive Compensation

Item 11. Executive Compensation. 55

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 62

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 63

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 65 PART IV 66

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 66

Form 10-K Summary

Item 16. Form 10-K Summary 75

SIGNATURES

SIGNATURES 76 In this Annual Report on Form 10-K, unless otherwise stated or as the context otherwise requires, references to "La Rosa Holdings Corp.," the "Company," the "Issuer," the "Registrant," the "LRHC," "we," "us," "our" and similar references refer to La Rosa Holdings Corp., a Nevada corporation. Our logo and other trademarks or service marks of the Company appearing in this Annual Report on Form 10-K are the property of La Rosa Holdings Corp. This Annual Report on Form 10-K also contains registered marks, trademarks, and trade names of other companies. All other trademarks, registered marks, and trade names appearing in this Annual Report on Form 10-K are the property of their respective holders. i Cautionary Note Regarding Forward-Looking Statements and Industry Data This Annual Report on Form 10-K, in particular, Part II Item 7 " Management's Discussion and Analysis of Financial Condition and Results of Operations ," contains certain "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 represent our expectations, beliefs, intentions, or strategies concerning future events, including, but not limited to, any statements regarding our assumptions about financial performance; the continuation of historical trends; the sufficiency of our cash balances for future liquidity and capital resource needs; the expected impact of changes in accounting policies on our results of operations, financial condition or cash flows; anticipated problems and our plans for future operations; and the economy in general or the future of the industry in which we operate, all of which were subject to various risks and uncertainties. When used in this Annual Report on Form 10-K and other reports, statements, and information we have filed with the Securities and Exchange Commiss

Business

Business We operate primarily in the United States residential real estate market which totaled $47.5 trillion at the end of 2023 reflecting a year over year gain of $2.4 trillion due to a shortage of houses for sale, according to Redfin Corp 1 . The Company is the holding company for its direct, majority owned subsidiaries, and has no other operations. Realty was a traditional residential real estate brokerage firm founded in 2004 by Mr. La Rosa to serve the Florida market. In 2011, La Rosa Realty shifted to an agent-centric real estate brokerage format, offering agents more tools and value while offering experienced agents a 100% commission split. Newly licensed and agents still in training operate on a 60% to agent / 40% commission split (13% to La Rosa Coaching, 14% to the La Rosa individual coach, 10% to the brokerage office who engaged the new agent, and 3% to the Director of Coaching who is employed by La Rosa Holdings). Realty has expanded its geographic footprint over the years by integrating technology into its operations and creating a brokerage that provides its agents with the tools to handle their transactions, accounting, marketing, social media and customer relations. Realty's full service, high touch engagement with its clients assists them with navigating the complexity of the home purchase/sale transaction through their intimate knowledge of the local market, guiding them on the right pricing for their sale or purchase, assisting in the negotiation of the sales contract, overseeing the home inspections and possible repairs, reviewing the financial details of the transaction to assure that there are no errors and attending the closing of the sale to ensure that there are no last minute surprises. Realty believes that its services build referrals and repeat clients who appreciate the expertise and personal relationships that they develop with our agents. In 2018, Mr. La Rosa organized Franchising to study the potential to expand nationally by

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