Tue, Jul 9, 8:42 PM (60 days ago)
International Land Alliance, Inc. reported significant improvements for the quarter ended March 31, 2024, with net revenues of $5,088,874, a substantial increase from $240,932 in the same period last year. The company achieved a net income of $3,650,150, compared to a net loss of $1,908,561 in Q1 2023. The increase in revenue is attributed to real estate sales, interest from financed sales, and previously deferred revenues. Operating expenses decreased to $652,059 from $1,115,938, driven by reductions in sales, marketing, and general administrative costs. However, the company faces liquidity challenges, with current liabilities exceeding current assets by approximately $13.7 million. The company continues to raise capital through debt and equity, which may dilute existing shareholders. Future operations depend on successful marketing and increased plot sales. Key uncertainties include the transfer of land titles for projects in Baja California, which could impact future cash flows and operations.