LiquidValue Development Inc. Files Q3 2024 10-Q

TL;DR

LiquidValue Dev (LVDW) filed its Q3 10-Q. Check financials.

AI Summary

LiquidValue Development Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as SeD Intelligent Home Inc. and HOMEOWNUSA, is incorporated in Nevada and headquartered in Bethesda, Maryland. The filing covers the third quarter of their fiscal year, which ends on December 31st.

Why It Matters

This filing provides investors with an update on LiquidValue Development Inc.'s financial performance and operational status for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant new information presented.

Key Numbers

• 2024-09-30 — Period End Date (The filing covers financial data up to this date.)
• 2024-10-31 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• LiquidValue Development Inc. (company) — Filer
• SeD Intelligent Home Inc. (company) — Former company name
• HOMEOWNUSA (company) — Former company name
• 20240930 (date) — Period of report
• 20241031 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — 2023 (Unaudited) Shares Par Value $0.001 Capital Deficit Equity Interests E

Filing Documents

• form10-q.htm (10-Q) — 657KB
• ex31-1a.htm (EX-31.1A) — 19KB
• ex31-1b.htm (EX-31.1B) — 19KB
• ex31-2a.htm (EX-31.2A) — 19KB
• ex31-2b.htm (EX-31.2B) — 19KB
• ex32-1.htm (EX-32.1) — 12KB
• 0001493152-24-043208.txt ( ) — 3792KB
• lvdw-20240930.xsd (EX-101.SCH) — 26KB
• lvdw-20240930_cal.xml (EX-101.CAL) — 50KB
• lvdw-20240930_def.xml (EX-101.DEF) — 109KB
• lvdw-20240930_lab.xml (EX-101.LAB) — 259KB
• lvdw-20240930_pre.xml (EX-101.PRE) — 196KB
• form10-q_htm.xml (XML) — 494KB

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) September 30, December 31, 2024 2023 (Unaudited) (Audited) Assets: Real Estate Construction in Progress 5,016,632 6,710,732 Land Held for Development 1,489,304 3,382,792 Other Properties, Net 620,123 634,006 Total 7,126,059 10,727,530 Cash 2,362,381 1,774,314 Restricted Cash 107,847 107,767 Other Receivable 51,620 28,917 Reimbursement Receivable, Net 8,195,176 6,707,079 Promissory Note Receivable - Related Party 15,974,214 12,702,270 Fixed Assets, Net 2,475 2,027 Deposits 21,491 21,491 Operating Lease Right-Of-Use Asset, Net 147,751 27,622 Total Assets $ 33,989,014 $ 32,099,017 Liabilities and Stockholders' Equity: Liabilities: Accounts Payable 259,171 738,191 Accrued Expenses 313,206 796,390 Accrued Interest - Related Parties 1,292,036 1,638,824 Deferred Revenue 2,100 2,100 Security Deposit 4,301 2,100 Operating Lease Liability 155,178 22,397 Total Liabilities 2,025,992 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 September 30, 2024 and December 31, 2023 704,043 704,043 Additional Paid in Capital 33,045,481 32,816,924 Accumulated Deficit ( 1,850,592 ) ( 4,701,911 ) Total LiquidValue Development Inc. Stockholders' Equity 31,898,932 28,819,056 Non-controlling Interests 64,090 79,959 Total Stockholders' Equity 31,963,022 28,899,015 Total Liabilities and Stockholders' Equity $ 33,989,014 $ 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 Nine Months Ended September 30, 2024 and 2023 (Unaudited) 2024 2023 2024 2023 Three Months Ended Sept

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 September 30, 2024, the Company had cash in the amount of $ 2,362,381 , compared to $ 1,774,314 as of December 31, 2023. Alset EHome's Lakes at Black Oak project is a land sub-division development located north of Houston, Texas. Our Lakes at Black Oak project initially consisted of 162 acres; in January of 2021, this project was expanded with the purchase of an approximately 6.3 -acre tract of land. 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 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 comm

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View this 10-Q filing on SEC EDGAR