Mon, Jul 22, 10:57 AM (47 days ago)
Awaysis Capital, Inc. filed an Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended June 30, 2023, addressing SEC comments regarding the omission of the 2022 Auditor’s Report. The amendment includes the 2022 Reaudited Consolidated Financial Statements, an updated auditor’s report, and corrections to previous filings. The company reported a net loss of $4.3 million for FY 2023, primarily due to increased operating expenses related to transitioning from a shell company to an operating entity. Revenue for FY 2023 was $107,760, mainly from rental income and property sales commissions. The company’s cash position was $79 as of June 30, 2023, with a positive working capital of $5.7 million. Future funding is expected from pre-sales, investor subscriptions, and advances from principal shareholders. Key risk factors include dependency on management, significant competition, and the need for substantial capital to achieve business objectives.