LiquidValue Development Inc. Files Q2 2024 10-Q

TL;DR

LiquidValue Development Inc. (LVDW) filed its Q2 10-Q. Financials for June 30, 2024, are out.

AI Summary

LiquidValue Development Inc. filed its Q2 2024 10-Q report on July 29, 2024, covering the period ending June 30, 2024. The company, formerly known as SeD Intelligent Home Inc. and HOMEOWNUSA, is incorporated in Nevada and operates in the Real Estate sector. The filing details financial information for the periods ending June 30, 2024, and December 31, 2023.

Why It Matters

This filing provides investors with an update on LiquidValue Development Inc.'s financial performance and position for the second quarter of 2024, crucial for understanding the company's ongoing operations and health.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial data, not indicating immediate operational or financial distress.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Covers financial data up to this date for Q2 2024.)
• 2024-07-29 — Filing Date (Date the 10-Q was submitted to the SEC.)
• 2023-12-31 — Prior Year End Date (Provides comparative financial data from the end of the previous fiscal year.)

Key Players & Entities

• LiquidValue Development Inc. (company) — Filer of the 10-Q
• SeD Intelligent Home Inc. (company) — Former name of LiquidValue Development Inc.
• HOMEOWNUSA (company) — Former name of LiquidValue Development Inc.
• 20240630 (date) — End of the reporting period
• 20240729 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0.001 — 2023 (Unaudited) Shares Par Value $0.001 Additional Paid in Capital Accumula

Filing Documents

• form10-q.htm (10-Q) — 614KB
• ex31-1a.htm (EX-31.1A) — 18KB
• ex31-1b.htm (EX-31.1B) — 18KB
• ex31-2a.htm (EX-31.2A) — 18KB
• ex31-2b.htm (EX-31.2B) — 18KB
• ex32-1.htm (EX-32.1) — 12KB
• 0001493152-24-029425.txt ( ) — 3781KB
• lvdw-20240630.xsd (EX-101.SCH) — 26KB
• lvdw-20240630_cal.xml (EX-101.CAL) — 50KB
• lvdw-20240630_def.xml (EX-101.DEF) — 124KB
• lvdw-20240630_lab.xml (EX-101.LAB) — 254KB
• lvdw-20240630_pre.xml (EX-101.PRE) — 196KB
• form10-q_htm.xml (XML) — 512KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Operations (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 5 Condensed Consolidated Statements of Cash Flows (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3. Quantitative and Qualitative Disclosure About Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 20

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 21

SIGNATURES

SIGNATURES 22 2 Part I. Financial Information LiquidValue Development Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) June 30, 2024 December 31, 2023 (Unaudited) (Audited) Assets: Real Estate Construction in Progress 6,434,290 6,710,732 Land Held for Development 2,328,479 3,382,792 Other Properties 624,750 634,006 Total 9,387,519 10,727,530 Cash 2,824,225 1,774,314 Restricted Cash 107,820 107,767 Other Receivable 47,631 28,917 Reimbursement Receivable, Net 7,309,075 6,707,079 Promissory Note Receivable - Related Party 12,693,476 12,702,270 Fixed Assets, Net 1,222 2,027 Deposits 21,491 21,491 Operating Lease Right-Of-Use Asset, Net 158,087 27,622 Total Assets $ 32,550,546 $ 32,099,017 Liabilities and Stockholders' Equity: Liabilities: Accounts Payable 598,600 738,191 Accrued Expenses 515,030 796,390 Accrued Interest - Related Parties 1,565,006 1,638,824 Deferred Revenue 2,100 2,100 Security Deposit 4,301 2,100 Operating Lease Liability 161,800 22,397 Total Liabilities 2,846,837 3,200,002 Stockholders' Equity: Common Stock, at par $ 0.001 , 1,000,000,000 shares authorized and 704,043,324 issued, and outstanding at June 30, 2024 and December 31, 2023 704,043 704,043 Additional Paid in Capital 32,816,924 32,816,924 Accumulated Deficit ( 3,894,755 ) ( 4,701,911 ) Total LiquidValue Development Inc. Stockholders' Equity 29,626,212 28,819,056 Non-controlling Interests 77,497 79,959 Total Stockholders' Equity 29,703,709 28,899,015 Total Liabilities and Stockholders' Equity $ 32,550,546 $ 32,099,017 See accompanying notes to condensed consolidated financial statements. 3 LiquidValue Development Inc. and Subsidiaries Condensed Consolidated Statements of Operations For the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 2024 2023 2024 2023 Three Months Ended June 30, Six Months Ended J

Financial Statements – Related Party Transactions and Note 6 – Discontinued Operations

Financial Statements – Related Party Transactions and Note 6 – Discontinued Operations. Liquidity and Capital Resources As of June 30, 2024, the Company had cash in the amount of $ 2,824,225 , compared to $ 1,774,314 as of December 31, 2023. The future development timeline of Lakes at Black Oak will be based on multiple conditions, including the amount of funds which may be raised from capital markets, the loans we may secure from third party financial institutions, and government reimbursements which may be received. The development will be step by step and expenses will be contingent on the amount of funding we will receive. In late 2022 and early 2023, the Company entered into three contracts with builders to sell multiple lots from its Lakes at Black Oak project. The sales contemplated by these contracts were contingent on certain conditions which the parties to such contracts had to meet and generated approximately $ 23 million of funds from operations, not including certain expenses that the Company was required to pay. In addition, the Company is entitled to receive certain reimbursements in the year ended December 31, 2024 and 2025. The sale of 335 lots closed in the first six months of 2023 generating approximately $ 18.1 million revenue. The sale of 95 lots closed on January 4, 2024 generating approximately $ 5.0 million in revenue. On July 1, 2024 the Company has closed the sale of 70 single-family detached residential lots comprising a section of a residential community in the city of Magnolia, Texas known as the "Lakes at Black Oak" to Century Land Holdings of Texas, LLC. The lots were sold at a fixed per-lot price, and the Seller also received a community enhancement fee for each lot sold. The aggregate purchase price and community enhancement fees, minus certain expenses, equaled a combined total of approximately $ 3.8 million. The Company has obtained a letter of financial support from Alset Inc., an indirect owner of the Company. Alset I

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View this 10-Q filing on SEC EDGAR