International Land Alliance Files Q1 2024 10-Q

TL;DR

ILA's Q1 2024 10-Q is in. Financials and preferred stock details are updated.

AI Summary

International Land Alliance Inc. filed its 10-Q for the period ending March 31, 2024. The filing details financial information for the first quarter of 2024, including balance sheet data and preferred stock classifications. The company is based in San Diego, California, and operates in the land subdividers and developers sector.

Why It Matters

This filing provides investors with a quarterly update on the financial health and operational status of International Land Alliance Inc., crucial for investment decisions.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not contain immediate, high-impact news.

Key Numbers

• 1231 — Fiscal Year End (Indicates the company's annual financial reporting cycle.)
• 000-56111 — SEC File Number (Unique identifier for the company's SEC filings.)

Key Players & Entities

• International Land Alliance Inc. (company) — Filer of the 10-Q report.
• San Diego, CA (location) — Business and mailing address of the company.
• 20240331 (date) — End of the reporting period for the 10-Q.
• 20240709 (date) — Filing date of the 10-Q.

FAQ

Key Financial Figures

• $0.001 — had 86,759,195 shares of common stock, $0.001 par value per share, outstanding. TAB

Filing Documents

• form10-q.htm (10-Q) — 1243KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-026653.txt ( ) — 7668KB
• ilal-20240331.xsd (EX-101.SCH) — 58KB
• ilal-20240331_cal.xml (EX-101.CAL) — 64KB
• ilal-20240331_def.xml (EX-101.DEF) — 353KB
• ilal-20240331_lab.xml (EX-101.LAB) — 477KB
• ilal-20240331_pre.xml (EX-101.PRE) — 433KB
• form10-q_htm.xml (XML) — 1204KB

Financial Information

Part I. Financial Information 3

Consolidated Financial Statements

Item 1. Consolidated Financial Statements 3 Consolidated Balance Sheets – As of March 31, 2024 (unaudited) and December 31, 2023 (audited) 3 Consolidated Statements of Operations – For the three months ended March 31, 2024, and 2023 (unaudited) 4 Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the three months ended March 31, 2024, and 2023 (unaudited) 5 Consolidated Statements of Cash Flows for the three months ended March 31, 2024, and 2023 (unaudited) 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36

Other Information

Part II. Other Information 37

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 37

Signatures

Signatures 38 2 PART I — FINANCIAL INFORMATION Item 1. Financial Statements INTERNATIONAL LAND ALLIANCE, INC. CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 ASSETS Current assets Cash $ 136,856 $ 140,247 Accounts receivable 1,505,712 1,652,086 Prepaid and other current assets 16,815 16,815 Total current assets 1,659,383 1,809,148 Land 15,776,526 15,551,526 Buildings, net 1,802,161 1,818,825 Furniture and equipment, net 2,677 2,677 Other non-current assets 55,767 53,468 Goodwill 11,118,187 11,118,187 Total assets $ 30,414,701 $ 30,353,831 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $ 1,931,617 $ 1,431,676 Accounts payable and accrued liabilities related parties 361,223 361,223 Accounts payable and accrued liabilities 361,223 361,223 Deferred revenue - 4,521,222 Accrued interest 1,264,035 1,756,937 Contract liability 143,382 93,382 Deposits 20,500 20,500 Derivative liability 804,672 781,924 Convertible notes, net of debt discounts 620,074 652,077 Convertible note RCVD acquisition - 8,900,000 Promissory notes, net of debt discounts 2,744,762 2,674,762 Promissory notes, net discounts – Related Parties 53,232 104,498 Promissory notes, net discounts 53,232 104,498 Other loans 7,436,657 7,358,600 Total current liabilities 15,380,153 28,656,801 Total liabilities 15,380,153 28,656,801 Commitments and Contingencies (Note 11) - - Preferred Stock Series B (Temporary Equity) 293,500 293,500 Preferred Stock Series C (Temporary Equity) 310,000 310,000 Total Temporary Equity 603,500 603,500 Stockholders' Equity Preferred stock; $ 0.001 par value; 2,000,000 shares authorized; 117,000 and 28,000 Series A shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 117 28 1,000 Series B shares issued and outstanding as of March 31, 2024 and Dece