Tue, Nov 19, 8:03 PM (90 days ago)
For the quarter ended September 30, 2024, Awaysis Capital, Inc. (AWCA) reported revenue of $44,119, a significant increase from $6,800 in the same quarter of 2023. Operating expenses surged to $710,987, primarily due to heightened sales and marketing efforts as the company transitions from a shell to an operational entity. This resulted in an operating loss of $666,868, down from a loss of $3,531,828 year-over-year. The net loss for the quarter was $694,074 compared to $3,531,828 in 2023. Cash reserves declined to $234,367 from $745,991, impacted by cash used in operating activities of $410,248. The company maintains positive working capital of $2,664,034, bolstered by a recent $1.1 million convertible loan and ongoing capital raises. Future operations hinge on securing additional funding, including a $5 million line of credit approved for property acquisitions and development. Overall, while Awaysis shows promising revenue growth, uncertainties remain regarding liquidity and the ability to sustain operations without further capital influx. The management continues to focus on expanding its rental inventory and enhancing operational efficiency in the hospitality sector.