HWH International reports FY2023 net loss of $1.65M; revenue down 31% YoY; membership business suspended

HWH International Inc.

Total revenue $830,519, down 31% YoY from $1.20M; membership revenue plunged to $12,293 from $751,452.
Net loss widened to $1.65M vs $0.94M; diluted EPS of -$165.44 vs -$94.60.
Stockholders' equity turned negative at ($969,449) from positive $678,113; cash fell to $878,803.
Recorded $493,898 impairment of convertible note and investment in associate during 2023.
Membership business temporarily suspended; F&B revenue grew to $818,226 from $451,438.

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