Highest-materiality recent filing
Awaysis Capital board flags appraisal errors, waives $6.1M in notes due
Board identified material inconsistencies in appraisals of Chial Reserve Assets (acquired for ~$4.47M); ordered new appraisals.
Awaysis Capital acquires Chial Properties in Belize for $5.5M from Chairman Michael Singh
Total purchase price $5.5M: $2.4M cash, $1.5M secured promissory note (0% interest, due Feb 2025 or uplisting), $1.6M convertible note (3.5%, due June 2025).
Awaysis Capital completes $5.5M acquisition of Chial Mountain assets in Belize via insider notes
Purchase price $5.5M: $2.4M cash, $1.5M zero-interest promissory note, $1.6M convertible note at 3.5% to Chairman/Co-CEO Michael Singh.
Awaysis Capital borrows $2.75M from affiliate BOS Investment under secured line of credit
Borrowed $2,750,000 from BOS Investment Inc. under a $3,000,000 secured promissory note, replacing prior $250,000 note.
Awaysis Capital borrows $250K from affiliate under $5M line of credit; secured by all assets
Initial $250K tranche borrowed from BOS Investment (affiliate of Chairman Michael Singh) under a planned $5M line of credit.
Awaysis Capital stockholders approve up to 1-for-20 reverse stock split
Stockholders representing ~84% of outstanding shares (298M of 352M) approved the action.
Awaysis Capital issues 31.7M shares to three executives for past-due compensation totaling $7.8M
Michael Singh (Chairman/Co-CEO) received 14,071,153 shares for $3,469,665 in accrued salary and bonuses from Sep 2022 to Jun 2024.
In addition to being a Co-Chief Executive Officer, (a) Mr. Singh will also remain as Chairman of the Board of Directors and (b) Dr. Trumbach will also remain as Chief Financial Officer but will relinquish his title of President.
In addition to being a Co-Chief Executive Officer, (a) Mr. Singh will also remain as Chairman of the Board of Directors and (b) Dr. Trumbach will also remain as Chief Financial Officer but will relinquish his title of President.
Max materiality 0.75 · Median 0.45 · Most common event debt