La Rosa Holdings Corp. reported first quarter ended March 31, 2024 results: revenue $13.1 million, net income Net loss was $4.7 million, EPS $(0.35) basic and diluted loss per share. Guidance initiated.
“Total revenue for the first quarter ended March 31, 2024, was $13.1 million compared to $6.0 million for the first quarter ended March 31, 2023. Residential real estate services revenue increased $6.9 million to $10.2 million, or 211%, in the first quarter ended March 31, 2024, versus the comparable prior year period. The increase was driven by $7.6 million of revenue from the six acquisitions completed in the fourth quarter of fiscal year 2023 and the three acquisitions completed in the first quarter of fiscal year 2024, offset by a 36% decrease in total transaction volume. We increased our transaction fees, monthly agent fees, and annual fees effective September 1, 2023, which, if volume remains consistent, we anticipate our real estate brokerage services revenue will increase in 2024. Selling, general and administrative costs, excluding stock-based compensation, for the first quarter ended March 31, 2024, were $2.6 million, compared to $1.0 million for the first quarter ended March”
Material Agreements
La Rosa Holdings Corp. amended Amendment with Yeimalis Acevedo-Rasmussen valued at $2,413.99 (effective 2024-04-26).
“On April 26, 2024, La Rosa Holdings Corp., a Nevada corporation (the “Company”), and Yeimalis Acevedo-Rasmussen (“Selling Stockholder”) entered into an amendment agreement (the “Amendment”) to correct an inadvertent error in the original stock purchase agreement, dated March 15, 2024 (the “Purchase Agreement”)”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving La Rosa Realty Lakeland, LLC for $873,901.95, which was settled by a cash payment of $50,000 and the issuance of 514,939 unregistered shares (closed 2024-04-18).
“the Company, Realty Lakeland and the selling member of (the “ Selling Member ”) of Realty Lakeland (the “ Transaction ”). The purchase price for the Membership Interests was $873,901.95, which was settled by a cash payment of $50,000 and the issuance of 514,939 unregistered shares of the Company’s common stock to the Selling Member based on $1.60 per share, the”
Lourdes Felix was appointed as Director and Chairperson of Audit Committee at La Rosa Holdings Corp..
“On April 17, 2024, upon recommendation of the Nominating and Corporate Governance Committee of the Board ("Nominating Committee"), the Board appointed Ms. Lourdes Felix as a member of the Board, effective April 19, 2024.”
Thomas Stringer resigned as Director at La Rosa Holdings Corp..
“On April 17, 2024, Thomas Stringer informed the Board of Directors (the "Board") of La Rosa Holdings Corp. (the "Company") of his resignation as a member of the Company's Board effective immediately.”
Earnings Releases
La Rosa Holdings Corp. reported fiscal year ended December 31, 2023 results: revenue $31.8 million.
“Total revenue for the year ended December 31, 2023, was $31.8 million compared to $26.2 million for the fiscal year ended December 31, 2022.”
Earnings Releases
La Rosa Holdings Corp. reported fourth quarter ended December 31, 2023 results: revenue $11.4 million.
“Total revenue increased 91% year-over-year to $11.4 million for the fourth quarter ended December 31, 2023 from $6.0 million for the fourth quarter ended December 31, 2022”
Debt Financings
La Rosa Holdings Corp. incurred senior notes of $1,316,000 with institutional accredited investor at 13% per annum maturing April 1, 2025.
“the Company issued the Investor a 13% OID senior secured promissory note with the face amount of $1,316,000”
Material Agreements
La Rosa Holdings Corp. entered into Securities Purchase Agreement with institutional accredited investor valued at 13% OID senior secured promissory note with face amount of $1,316,000, purchase price $1,250,200 (effective 2024-04-01).
“On April 1, 2024, La Rosa Holdings Corp., a Nevada corporation (the “ Company ”), entered into that certain securities purchase agreement (the “ Securities Purchase Agreement ”) with an institutional accredited investor (the “ Investor ”) pursuant to which the Company issued the Investor a 13% OID senior secured promissory note with the face amount of $1,316,000 (the “ Note ”)”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving selling stockholder of La Rosa Realty California for $2,413.99, which was settled by the issuance of 1,387 unregistered shares of the Company's common stock (closed 2024-03-15).
“Realty California and the selling stockholder (the “ Selling Stockholder ”) of Realty California (the “ Transaction ”). The purchase price for the Membership Interests was $2,413.99, which was settled by the issuance of 1,387 unregistered shares of the Company’s common stock to the Selling Stockholder based on $1.74 per share, the closing price of the”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving La Rosa Realty Georgia LLC and the two selling members for $516,450.38, which was settled by the issuance of an aggregate of 276,178 unregistered shares of the Company’s common stock to the Selling Members based on $1.8 (closed 2024-03-07).
“the Company, Realty Georgia and the two selling members (the “ Selling Members ”) of Realty Georgia (the “ Transaction ”). The purchase price for the Membership Interests was $516,450.38, which was settled by the issuance of an aggregate of 276,178 unregistered shares of the Company’s common stock to the Selling Members based on $1.87 per share, the closing price”
Debt Financings
La Rosa Holdings Corp. incurred convertible notes of $1,052,631.58 with an accredited investor at 13% maturing Not specified in excerpt.
“On February 20, 2024, La Rosa Holdings Corp., a Nevada corporation (the “ Company ”), entered into securities purchase agreements (the “ Securities Purchase Agreements ”) with an accredited investor (the “ Investor ”) for the issuance of 13% senior secured promissory note in the aggregate principal amount of $1,052,631.58 (the “ Note ”) convertible into shares of common stock, par value $0.0001 per share (the “ Common Stock ”), of the Company, as well as the issuance of 67,000 shares of Common Stock as a commitment fee and warrants for the purchase of up to 215,000 shares of Common Stock.”
Material Agreements
La Rosa Holdings Corp. entered into Securities Purchase Agreements with an accredited investor valued at $1,052,631.58 (effective 2024-02-20).
“On February 20, 2024, La Rosa Holdings Corp., a Nevada corporation (the “ Company ”), entered into securities purchase agreements (the “ Securities Purchase Agreements ”) with an accredited investor (the “ Investor ”) for the issuance of 13% senior secured promissory note in the aggregate principal amount of $1,052,631.58”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving La Rosa Realty Winter Garden LLC and the two selling members for $352,204.25 (closed 2024-02-21).
“Agreement”), by and among the Company, Winter Garden and the two selling members of Winter Garden (the “Selling Members”). The purchase price for the Membership Interests was $352,204.25, which was settled by the issuance of an aggregate of 268,858 unregistered shares of the Company’s common stock to the Selling Members based on $1.31 per share, the closing price”
Deana La Rosa was appointed as Chief Operating Officer at La Rosa Holdings Corp..
“Deana La Rosa was appointed as the Chief Operating Officer of the Company by the Board of Directors of La Rosa Holdings Corp., a Nevada corporation (the “ Company ”), effective February 1, 2024.”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving Selling Member of La Rosa Realty North Florida, LLC for $1,131,053.50 (closed 2023-12-28).
“Agreement”), by and among the Company, North Florida and the selling member of North Florida (the “Selling Member”). The purchase price for the Membership Interests was $1,131,053.50 consisting of (i) a cash payment of $300,000 (the “Cash Payment”), and (ii) $831,053.50 in unregistered shares of common stock of the Buyer, which was settled by the issuance of”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving La Rosa Realty Orlando, LLC and the two selling members of Orlando for $648,188.97 (closed 2023-12-20).
“Agreement”), by and among the Company, Orlando and the two selling members of Orlando (the “Selling Members”). The purchase price for the Membership Interests was $648,188.97, which was settled by the issuance of an aggregate of 415,506 unregistered shares of the Company’s common stock to the Selling Members based on $1.56 per share, the closing price”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving Premier Selling Member for $408,714.65 (closed 2023-12-13).
“Company, Premier and the owner of 100% of the membership interest in Premier (the “Premier Selling Member”). The purchase price for the Majority Interests of Premier amount to $408,714.65, consisting of $15,000 in cash and 259,023 unregistered shares of the Company’s common stock issued to the Premier Selling Member. The number of shares was determined based on a”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving CWP Selling Member for $1,200,000 (closed 2023-12-12).
“and among the Company, CWP and the owner of 100% of the outstanding membership interests in CWP (the “CWP Selling Member”). The purchase price for the Membership Interests was $1,200,000, which was settled by the issuance of 714,286 unregistered shares of the Company’s common stock to the CWP Selling Member. The number of shares was determined based on a price of”
Listing & Compliance Notices
La Rosa Holdings Corp. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2)).
“November 24, 2023, the staff of The Nasdaq Stock Market LLC (“Nasdaq”) notified La Rosa Holdings Corp., a Nevada corporation (the “ Company ”), that it no longer meets Nasdaq Listing Rule 5550(b)(2) (the “ Rule ”) requiring the Company to maintain a minimum market value of listed securities (“ MVLS ”) of $35 million. The notice was based on a review of the Company’s MVLS for the past 30 consecutive business days. Nasdaq’s listing rules provide the Company with a compliance period of 180 calendar days, or until May 22, 2024, in which to regain compliance. If at any time during this compliance p”
Earnings Releases
La Rosa Holdings Corp. reported the third quarter ended September 30, 2023 results: revenue $6.8 million.
“Total revenue increased 11% year-over-year to $6.8 million for Q3 2023”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving Horeb Kissimmee Realty, LLC for $500,000 in cash and issued the Selling Member an aggregate of 513,626 unregistered shares of the Company’s common stock (closed 2023-10-16).
“interest in Kissimmee (the “Selling Member”). As the consideration for the Company acquisition of the Majority Interests of Kissimmee Realty, the Company paid the Selling Member $500,000 in cash and issued the Selling Member an aggregate of 513,626 unregistered shares of the Company’s common stock (the “Kissimmee Purchase Shares”). On October 16, 2023, the Selling”
M&A Transactions
La Rosa Holdings Corp. completed an acquisition involving La Rosa Realty Lake Nona, Inc. for $50,000 in cash and issued the Selling Stockholder an aggregate of 324,998 unregistered shares of the Company’s common stock (closed 2023-10-13).
“the Company, Lake Nona and the sole stockholder of Lake Nona (the “Selling Stockholder”). As the consideration for the Majority Shares, the Company paid the Selling Stockholder $50,000 in cash and issued the Selling Stockholder an aggregate of 324,998 unregistered shares of the Company’s common stock (the “Lake Nona Purchase Shares”). The Selling Stockholder”
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