# EDGAR Filing Document

**Accession Number:** 0001021917
**File Stem:** 0001493152-26-023863
**Filing Date:** 2026-5
**Character Count:** 217507
**Document Hash:** d5fdd467ada5b4c55d03da3303789120
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-023863.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0001493152-26-023863

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 97

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Awaysis Capital, Inc.
- **CENTRAL INDEX KEY:** 0001021917
- **STANDARD INDUSTRIAL CLASSIFICATION:** OPERATORS OF NONRESIDENTIAL BUILDINGS [6512]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 270514566
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-21477
- **FILM NUMBER:** 26988598

**BUSINESS ADDRESS:**
- **STREET 1:** 3400 LAKESIDE DR
- **STREET 2:** SUITE 100
- **CITY:** MIRAMAR
- **STATE:** FL
- **ZIP:** 33027
- **BUSINESS PHONE:** 954-931-9244

**MAIL ADDRESS:**
- **STREET 1:** 3400 LAKESIDE DR
- **STREET 2:** SUITE 100
- **CITY:** MIRAMAR
- **STATE:** FL
- **ZIP:** 33027

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JV GROUP, INC.
- **DATE OF NAME CHANGE:** 20121102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ASPI, INC.
- **DATE OF NAME CHANGE:** 20091015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ASPEON INC
- **DATE OF NAME CHANGE:** 20000214

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 10-Q**

(Mark One)

---

| | |
|:---|:---|
| ☒ | **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
|  | **For the quarterly period ended March 31, 2026** |

---

**OR**

---

| | |
|:---|:---|
| ☐ | **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
|  | **For the transition period from ________ to _________** |

---

**Commission File Number: 000-21477**

![](form10-q_001.jpg)

**AWAYSIS CAPITAL, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **27-0514566** |
| *(State or Other Jurisdiction* | *(I.R.S. Employer* |
| *of Incorporation or Organization)* | *Identification No.)* |

---

**3400 Lakeside Drive, Suite 100, Miramar, Florida 33027**

*(Address Including Zip Code of Registrant's Principal Executive Offices)*

**(855) 795-3311**

(Registrant's Telephone Number, Including Area Code)

**Securities registered under Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| N/A | **N/A** | N/A |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "non-accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☐ Smaller reporting company ☒ <br> Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 14, 2026, there were **409,386,192** shares of common stock, par value $0.01 per share, outstanding.

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| **[PART I – FINANCIAL INFORMATION](#sa_001)** | 3 |
| [Item 1. Financial Statements](#sa_002) | 3 |
| [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](#sh_001) | 23 |
| [Item 3. Quantitative and Qualitative Disclosures About Market Risk](#sh_002) | 30 |
| [Item 4. Controls and Procedures](#sh_003) | 30 |
| **[PART II – OTHER INFORMATION](#sh_004)** | 31 |
| [Item 1. Legal Proceedings](#sh_005) | 31 |
| [Item 1A. Risk Factors](#sh_006) | 31 |
| [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#sh_007) | 31 |
| [Item 3. Defaults Upon Senior Securities](#sh_008) | 31 |
| [Item 4. Mine Safety Disclosures](#sh_009) | 31 |
| [Item 5. Other Information](#sh_010) | 31 |
| [Item 6. Exhibits](#sh_011) | 31 |
| [Signatures](#sh_012) | 32 |

---

**PART I**

**Item 1. Financial Statements**

**Awaysis Capital, Inc.**

**Consolidated Balance Sheet**

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026**<br> (Unaudited) | **June 30, 2025**<br> (Audited) |
| **ASSETS** | | |
| **Current assets** |  |  |
| &nbsp;&nbsp;&nbsp;Cash | 1134260 | 220909 |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 4309 |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 2390 | 1750 |
| &nbsp;&nbsp;&nbsp;Inventory - construction in progress | 10857743 | 11333857 |
| &nbsp;&nbsp;&nbsp;Due from related parties | 97322 | 70965 |
| &nbsp;&nbsp;&nbsp;Mortgage receivable | 840832 | 515076 |
| &nbsp;&nbsp;&nbsp;Other current assets | 59521 | 21058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | $12996377 | $12163615 |
| **Non-current assets** |  |  |
| &nbsp;&nbsp;&nbsp;Fixed assets, net | 5077319 | 5116264 |
| &nbsp;&nbsp;&nbsp;Operating lease right-of-use asset | 123282 | 189401 |
| &nbsp;&nbsp;&nbsp;Other non-current assets | 19500 | 19500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total non-current assets** | 5220101 | 5325165 |
| **Total Assets** | $**18216478** | $**17488780** |
| **Liabilities and Stockholders' Equity** |  |  |
| **Current liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | 480504 | 362688 |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 209165 | 293307 |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 258295 | 233556 |
| &nbsp;&nbsp;&nbsp;Current portion of lease liability | 87437 | 90588 |
| &nbsp;&nbsp;&nbsp;Due to related parties | 750205 | 1855948 |
| &nbsp;&nbsp;&nbsp;Note payable - related parties | 1570000 | 1500000 |
| &nbsp;&nbsp;&nbsp;Convertible notes payable - related parties | 1545459 | 1837278 |
| &nbsp;&nbsp;&nbsp;Line of credit - related parties | 3353047 | 3240939 |
| &nbsp;&nbsp;&nbsp;Notes payable - current | 2625638 | 2596378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | $10879750 | $12010682 |
| **Non-current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities | 44791 | 107749 |
| &nbsp;&nbsp;&nbsp;Note payable - non-current | 848170 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total non-current liabilities** | $892961 | $107749 |
| **Total liabilities** | $**11772711** | $**12118431** |
| **Stockholders' equity:** |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock - 25,000,000 shares authorized $0.01 par value none issued and outstanding at March 31, 2026 and June 30, 2025, respectively |  |  |
| &nbsp;&nbsp;&nbsp;Common stock - 1,000,000,000 shares authorized $0.01 par value issued and outstanding common shares at March 31, 2026 and June 30, 2025 were 409,330,095 and 385,176,744, respectively | 4093301 | 3851768 |
| &nbsp;&nbsp;&nbsp;Common stock subscribed - $0.01 par value subscribed common shares at March 31, 2026 and June 30, 2025 were 982,230 and 943,000, respectively | 392 | 9430 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 19588884 | 17783460 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (17238810) | (15331309) |
| &nbsp;&nbsp;&nbsp;Subscription receivable | *-* | (943000) |
| **Total stockholders' equity**<br>| $6443767 | $5370349 |
| **Total Liabilities and Stockholders Equity** | $**18216478** | $**17488780** |

---

The accompanying notes are an integral part of these consolidated financial statements.

**Awaysis Capital, Inc.**

**Consolidated Statements of Operations**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **March 31, 2026** | **March 31, 2025** | **March 31, 2026** | **March 31, 2025** |
| **Revenue** | $563431 | $92808 | $1173262 | $275453 |
| **Cost of goods sold** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Cost of goods sold** | 358386 | - | 733386 | - |
| **Total cost of goods sold** | 358386 |  | 733386 |  |
| **Gross profit** | 205045 | 92808 | 439876 | 275453 |
| **Operating expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Sales and marketing** | 28276 | 26340 | 91298 | 148661 |
| &nbsp;&nbsp;&nbsp;**General and administrative** | 738619 | 614179 | 2220455 | 2121010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total operating expenses** | 766895 | 640519 | 2311753 | 2269671 |
| **Loss from operations** | (561850) | (547711) | (1871877) | (1994218) |
| **Other (income) expense** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Other Income** | (10494) |  | (27825) | (4660) |
| &nbsp;&nbsp;&nbsp;**Other Expense** |  |  | 600 |  |
| &nbsp;&nbsp;&nbsp;**Interest expense** | 21239 | 26254 | 62849 | 92316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total other (income) expense** | 10745 | 26254 | 35624 | 87656 |
| **Net loss before income taxes** | (572595) | (573965) | (1907501) | (2081874) |
| **Income taxes** |  |  |  |  |
| **Net loss** | $(572595) | $(573965) | $(1907501) | $(2081874) |
| **Basic and diluted per common share amounts:** |  |  |  |  |
| **Basic and diluted net loss** | $(0.00) | $(0.00) | $(0.00) | $(0.01) |
| **Weighted average number of common shares outstanding (basic and diluted)** | 409066519 | 384104200 | 393062135 | 373393204 |

---

The accompanying notes are an integral part of these consolidated financial statements.

**Awaysis Capital, Inc.**

**Consolidated Statements of Changes in Stockholders' Equity**

**(Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock Shares** | **Common**<br> **Stock Par**<br> **Value** | **Common Stock**<br> **Subscribed** | **Subscription Receivable** | **Additional**<br> **Paid-in**<br> **Capital** | **Accumulated Deficit** | **Total**<br> **Shareholders'**<br> **Equity** |
| Balance, June 30, 2025 | 386119744 | $3851768 | $9430 | $(943000) | $(17783460) | $(15331309) | $5370349 |
| Shares issued for professional services | 18226 | 182 |  |  | 5910 |  | 6092 |
| &nbsp;&nbsp;&nbsp;Net loss | - | - | - | - | - | (651548) | (651548) |
| Balance, Sept 30, 2025 | 386137970 | $3851950 | $9430 | $(943000) | $17789370 | $(15982857) | $4724893 |
| Shares issued for professional services | 23274755 | 232747 |  |  | 2560223 |  | 2792971 |
| Restricted shares issued | 860370 | 8604 |  |  | 166074 |  | 174678 |
| Net loss | - | - | - | - | - | (683358) | (683358) |
| Balance, December 31, 2025 | 410273095 | $4093301 | $9430 | $(943000) | $20515667 | $(16666215) | $7009183 |
| Shares subscribed | 39230 |  | 392 |  | 6787 |  | 7179 |
| Cancellation of stock subscription |  |  | (9430) | 943000 | (933570) |  |  |
| Net loss | - | - | - | - |  | (572595) | (572595) |
| Balance, March 31, 2026 | 410312325 | $4093301 | $392 | $- | $19588884 | $(17238809) | $6443767 |
| Balance, June 30, 2024 | 384901598 | 3839586 | $9430 | $(943000) | $17384873 | $(12606368) | $7684521 |
| Shares issued for professional services | 37456 | 375 |  |  | 15296 |  | 15761 |
| Net loss | - | - | - | - | - | (694074) | (694074) |
| Balance, Sept 30, 2024 | 384939054 | $3839961 | $9430 | $(943000) | $17400169 | $(13300442) | $7006116 |
| Shares issued for professional services | 296049 | 2960 |  |  | 184420 |  | 187380 |
| Net loss | - | - | - | - | - | (813835) | (813835) |
| Balance, December 31, 2024 | 385235103 | $3842921 | $9430 | $(943000) | $17584589 | $(813835) | $6379663 |
| Shares issued | 381178 | 3812 |  |  | 54700 |  | 58512 |
| Net loss | - | - | - | - | - | (573965) | (573965) |
| Balance, March 31, 2025 | 385616281 | $3846733 | $9430 | $(943000) | $17639289 | $(14688242) | $5864210 |

---

The accompanying notes are an integral part of these consolidated financial statements.

**Awaysis Capital, Inc.**

**Consolidated Statements of Cash Flows**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **For the Nine Mo** **nths Ended** | **For the Nine Mo** **nths Ended** |
|  | **March 31, 2026** | **March 31, 2025** |
| CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |
| Net loss | $(1907501) | $(2081874) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| Depreciation | $118007 | 80157 |
| Reclassification of capitalized assets | $6536 |  |
| Interest expense | 62826 | 33000 |
| Stock based compensation | $2806242 | 261563 |
| Restricted stock awards$ | $15000 |  |
| Amortization of operating lease right-of-use | $66119 | 53653 |
| Changes in operating assets and liabilities: |  |  |
| (Increase) decrease in accounts receivable | $(4309) | (124314) |
| (Increase) decrease in prepaid expenses | $(640) | 1181 |
| (Increase) decrease in inventory - construction in progress | $302598 | (3556651) |
| (Increase) decrease in other current assets | $(38463) |  |
| (Increase) decrease in escrow deposit - real estate |  | $(206498) |
| (Increase) decrease in mortgage receivable | $(325756) | (511284) |
| Increase (decrease) in due to related parties | $(1166593) | 847315 |
| Increase (decrease) in accounts payable | $117816 | 197825 |
| Increase (decrease) in other current liabilities | $(84143) | 424815 |
| Increase (decrease) in accrued expenses | $(15000) |  |
| Increase (decrease) in operating lease liabilities | $(66109) | (54453) |
| Net cash provided (used) by operating activities | $(113370) | (4635565) |
| CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |
| Purchase of fixed assets | $(32817) | (1042125) |
| Net cash used in investing activities | $(32817) | (1042125) |
| CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |
| Increase (decrease) in note payable - related parties | $70000 | 5069150 |
| Increase (decrease) in convertible notes - related parties | $- |  |
| Increase (decrease) in line of credit - related parties | $112108 |  |
| Increase (decrease) in notes payable | $877430 | (3622) |
| Net cash provided by financing activities | $1059538 | 5065528 |
| Net (decrease) in cash | $913351 | (612162) |
| Cash - beginning of year | $220909 | 745991 |
| Cash - end of year | $1134260 | 133829 |

---

***Supplemental disclosures of cash flow information***

***Non-cash investing and financing activities:***

For the nine months ended March 31, 2026, the Company incurred and capitalized interest of $136,591 as part of inventory - construction in progress, related to two convertible notes and a line of credit with related parties. No cash was paid for interest during the period.

As of March 31, 2026, the Company identified that the estimated total development cost of a specific villa exceeded the contracted selling price by approximately $161,170. Management evaluated this matter under ASC 330 (Inventory) and ASC 360 (Long-Lived Assets) and determined that the variance resulted from a post-acquisition valuation adjustment associated with the Chial purchase price, rather than a deterioration in the expected net realizable value of inventory. Accordingly, the adjustment has been reflected as a modification of the purchase consideration associated with the related acquisition, rather than as a charge to current period operations.

As of March 31, 2026, the Company reduced the Chial acquisition note payable by approximately $130,649 primarily related to proceeds from the sale of a unit and final post-acquisition purchase price adjustments identified during management's evaluation of the acquired assets and liabilities.

As of March 31, 2026, the Company issued 760,371 shares at $0.21 per share in the amount of $159,678 for interest payable on a convertible note.

During the quarter ended March 31, 2026, certain accrued compensation obligations owed to executive officers were partially satisfied through the offset of related-party balances and allocations totalling approximately $396,635. These transactions were non-cash in nature and therefore excluded from the consolidated statement of cash flows.

As of March 31, 2026, the Company determined the subscription receivable of $943,000 to be uncollectible. The cancellation was recorded as direct reduction to subscribed common stock, APIC, and subscription receivable. This transaction represents a non-cash financing activity and has no impact on the Company's cash position.

The accompanying notes are an integral part of these consolidated financial statements.

**Awaysis Capital, Inc.**

**Notes to the Consolidated Financial Statements**

**1. NATURE OF OPERATIONS**

*Nature of Business*

Awaysis Capital, Inc. ("Awaysis Capital," the "Company," "we," "us," or "our") is a hospitality and management company. While the Company acquires and develops real estate assets, these activities are conducted as part of an integrated hospitality and operating platform. The Company's primary objective is the active operation, management, and monetization of hospitality-driven residential communities, including short-term rental operations, property management services, and related service offerings.

Real estate development activities are undertaken to support and enhance these operating platforms, rather than as standalone investment activities. Accordingly, management views the Company as an operating hospitality and services platform, with real estate serving as an enabling component of its business model.

The Company generates revenue from real estate sales, short term booking revenues, property and resort management services, rental management commissions, and maintenance services, and we recognize revenue in accordance with ASC 606 as performance obligations are satisfied.

Global shifts toward remote and flexible work have significantly influenced residential preferences and travel behavior. An increasing number of individuals are seeking comfortable, amenity-rich destinations where they can live, work, and stay for extended periods. We aim to capitalize on these trends by transforming resort properties in desirable locations into self-contained residential-resort enclaves, which we define as gated communities that provide the full suite of amenities necessary for residents and guests to live, work, and play without leaving the property.

Initially, our focus is on developing partially completed or previously undeveloped resort communities that lack a significant operational history. In these cases, we intend to acquire the underlying real estate assets and complete development of the community. Depending on the property and market conditions, we may (i) sell the finished individual units to third-party buyers, or (ii) retain ownership of some or all units and make them available for short term hotel/resort stays. Units sold to third-party buyers may be used for personal occupancy or for short-term rental, at the owner's discretion, subject to local laws and regulations. We intend to own, operate, and manage the common areas of each community, including restaurants, bars, pools, retail areas, spas, fitness centers, coworking spaces, and other amenities. We may outsource certain operations to third parties at prevailing market rates.

Owners of individual units may elect to rent their units, subject to compliance with local laws. For example, in Belize, all short-term rental bookings must be processed through an entity with a valid Belize hotel license. If an owner engages us to manage bookings of their unit, we enter into an exclusive booking or management agreement, either directly with the owner or through a homeowners' association, setting forth applicable terms and fees. We perform a monthly reconciliation of booking activity, fee allocations, and amounts due to each owner. Amounts owed to owners are reconciled and distributed in accordance with the terms of their respective agreements.

We market units for sale or for short term bookings in jurisdictions where such offerings are permitted. To date, we market our properties through our website (www.awaysisgroup.com), online multiple listing services, and other licensed booking and distribution channels. While our current properties are located in Belize, offerings, sales, and related management arrangements may occur in both Belize and the United States, subject to compliance with applicable laws and regulations in each jurisdiction.

We are a licensed real estate corporation in the State of Florida and operate in compliance with the Florida Real Estate Commission, which regulates entities engaged in real estate. Our business is subject to an extensive range of federal, state, local, and foreign laws and regulations, which vary depending on jurisdiction and property type. These include requirements related to zoning and land use, licensing, permitting, registrations, environmental and safety standards, building and fire codes, sanitation protocols, and staffing and employee-training requirements. Our U.S. corporate office must also comply with the Americans with Disabilities Act and other accessibility laws applicable to public accommodations.

Additionally, our subsidiary is a licensed hotel operator in Belize and comply with the requirements of the Belize Tourism Board and other governmental authorities. Our operations are governed by the Belize Hotels and Tourist Accommodation Act and related regulations, which establish standards for hotel licensing, facility classifications, operational compliance, reporting obligations, and ongoing regulatory oversight.

Through these combined activities, property acquisition and development, resort operation and management, booking and rental services, and adherence to multi-jurisdictional regulatory frameworks, we aim to develop and operate a scalable portfolio of high-quality residential-resort enclaves that deliver exceptional hospitality experiences while generating diversified and recurring revenue streams for the Company.

*Company History*

JV Group was formed in Delaware on September 29, 2008, under the name ASPI, Inc.

On May 18, 2022, we changed our name from JV Group, Inc. to Awaysis Capital, Inc. In connection with this name change, we changed our ticker symbol from "ASZP" to "AWCA" and effective May 25, 2022, the Company's common stock was quoted on OTCID under the new symbol.

In December 2021, we formed a wholly owned subsidiary, Awaysis Capital, LLC, a Florida single member limited liability corporation to hold the office lease and to become the master payroll company for Awaysis Capital Inc.

We also formed a wholly owned subsidiary, Awaysis Casamora Limited, a Belize single member limited liability corporation to hold the title to the acquisition of the Casamora assets.

On December 20, 2024, Awaysis Belize Limited acquired the assets of Chial Mountain Limited, a Belize single member limited liability corporation.

Awaysis Belize Limited also acquired 100% of the outstanding shares of Chial Mountain Limited.

From October 2015 to February 2022, we were a publicly quoted shell company seeking to merge with an entity with experienced management and opportunities for growth in return for shares of our common stock to create values for our shareholders. In February 2022, the Board of Directors of the Company determined to pursue a business strategy of acquiring, developing and managing residential vacation home communities in desirable travel destinations.

In September 2024, our Board of Directors and holders of a majority of our outstanding voting securities, approved of a reverse split of up to 1-for-20 of our issued and outstanding shares of common stock (the "Reverse Split") and authorized our Co-CEOs, in their sole discretion, to determine the final ratio and effective date. We have not yet determined the final ratio or the effective date for the Reverse Split, nor will we commence the Reverse Split unless and until we deem it appropriate. Following this initial approval, the Board and the holders of a majority of the Company's outstanding voting securities approved subsequent extensions to effect the Reverse Split. The Company anticipates completing the reverse split prior to September 30, 2026.

The Company's principal executive office is located at 3400 Lakeside Drive, Suite 100, Miramar, FL 33027 and its main number is 855-795-3377. The Company's website address is www.awaysisgroup.com

**2. SIGNIFICANT ACCOUNTING POLICIES**

***Basis of Presentation***

The summary of significant accounting policies is presented to assist in the understanding of the consolidated financial statements. These policies conform to GAAP and have been consistently applied. The Company has selected June 30 as its financial year end.

***Principals of Consolidation***

The consolidated financial statements include accounts of the Company's wholly owned subsidiaries Awaysis Capital, LLC, Awaysis Belize Limited, Chial Mountain Limited and Awaysis Casamora Limited. All significant intercompany balances and transactions have been eliminated in consolidation.

The Company operates as a single operating segment engaged in hospitality and real-estate development activities based in Belize. All material revenues and assets are attributable to operations in Belize. The Company has no active operations, revenues, or assets located in the United States other than its main corporate offices that is a licensed real estate brokerage corporation. Although the Company generates revenue from multiple sources, including real estate sales, short-term rental operations, property and resort management services, homeowners' association management, brokerage activities, and related hospitality services, these activities are integrated components of a unified residential-resort development and management platform. The services share similar economic characteristics, including customer base, pricing structures, regulatory environment, operating risks, long-term margin profiles, and asset utilization.

Accordingly, management has determined that separate segment or geographic disclosures are not required under ASC 280, Segment Reporting, as the Company's activities represent a single reportable segment based on the following:

● All operations are managed on a consolidated basis by the Company's chief operating decision maker,

● Financial information is reviewed on an aggregate basis,

● Revenue streams are operationally integrated and interdependent,

● Assets are deployed collectively to support a unified hospitality platform.

Although the Company generates revenue from multiple sources, these activities are not managed or evaluated as separate business units.

On December 20, 2024, the Company completed the acquisition of certain assets of Chial Mountain Limited. Upon evaluation in accordance with ASC 805, *Business Combinations,* management determined that the acquired set of activities and assets did not include substantive processes and therefore did not meet the definition of a business. As such, the transaction was accounted for as an asset acquisition.

Accordingly, the purchase price, including directly related transaction costs, was allocated to the identifiable assets acquired based on their relative fair values, and no goodwill was recognized. Additional details regarding the assets acquired and purchase consideration are provided below.

**Purchase Price Allocation to Assets Acquired and Liabilities Assumes**

SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMES

---

| | |
|:---|:---|
| **Asset Class** | |
| Cash | 18699 |
| Inventories | 533050 |
| Mortgage receivable | 499437 |
| Property and equipment | 739221 |
| Site development | 951850 |
| Land | 1641660 |
| Escrow deposit | 81498 |
| **Total asset Acquired** | 4465415 |
| Due to related parties | 4465415 |

---

**Net assets acquired**

The aggregate estimated purchase price of the Chial Reserve Assets was $5,500,000, which was subsequently adjusted to approximately $4,465,415 based on a third-party appraisal of the property consisting of: (i) $2,400,000 adjusted to $2,378,137 in cash paid at closing; (ii) $1,500,000 secured promissory note, dated December 21, 2024 and as amended on April 14, 2025, between the Company and Michael Singh, which bears no interest and has a maturity date on the earlier of August 31, 2025 or the up-listing of the Company to the NYSE American; and (iii) a $1,600,000 senior convertible promissory note dated December 20, 2024 adjusted to $587,278 to account for current approximate appraisal, between the Company and Michael Singh, as amended, bearing interest at 3.5% per annum and maturing on August 31, 2025. On August 30, 2025, the Company was granted a waiver of the impending maturity date. Following the waiver, the parties agreed to work in good faith to negotiate subsequent amendments to the promissory notes. On October 28, 2025, the Company and Mr. Singh further amended the promissory notes to extend the maturity date to the earlier of November 30, 2025 or the up listing of the Company to the NYSE American. Effective February 3, 2026, the Company amended the maturity date to the earlier of February 28, 2026, or the uplisting of the Company to the NYSE American. As of March 31, 2026, the balance was trued-up to $295,458 due to villa sales and acquisition cost adjustments Effective May 11, 2026, the Company amended the maturity date to the earlier of June 15, 2026, or the uplisting of the Company to the NYSE American

On October 28, 2025, the Company and Chial Mountain Limited entered into an Amendment to Agreement of Purchase and Sale, dated December 31, 2024 and effective December 20, 2024, as amended, to extend the contract period to permit a new appraisal of the Chial Reserve Assets and to provide for the negotiation of an adjustment to the purchase price in light of such appraisal, to be set forth in a post-closing agreement to be executed within thirty (30) days following completion of the new appraisal. The Parties further agreed that either party may dispute the results of the new appraisal within fifteen (15) days of receipt, with the original deadline to execute the agreement being subject to automatic extension to the next feasible date, which shall not constitute a default.

As of the date the financial statements were issued, the appraisal and any related purchase price adjustment had not been finalized. Accordingly, no adjustment has been made to the carrying amounts of the related assets or liabilities as of March 31, 2026. Management will evaluate the outcome of the appraisal and any resulting modification to the purchase price in the period in which it becomes known.

The notes are secured by priority liens on substantially all of the assets of the Company and contain customary events of default, which entitles Mr. Singh, among other things, to accelerate the due date of the unpaid principal and accrued and unpaid interest to the extent applicable.

The senior convertible promissory note is convertible at the option of Mr. Singh into shares of the Company's Common Stock at a conversion price equal to the closing price of the Company's Common Stock on the trading day immediately prior to Mr. Singh's delivery of a notice of conversion, as set forth therein.

***Use of Estimates***

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

***Cash and Cash Equivalents***

We maintain cash balances in a non-interest-bearing account and unrestricted cash in escrow that currently does not exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with a maturity of three months or less are considered to be cash equivalents. The Company will hold payments made by guest in advance of reservations in a restricted escrow account until the rescission period expires in accordance with U.S. state regulations.

***Fair Value Measurements***

ASC Topic 820, Fair Value Measurements and Disclosures ("ASC 820"), provides a comprehensive framework for measuring fair value and expands disclosures which are required about fair value measurements. Specifically, ASC 820 sets forth a definition of fair value and establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. ASC 820 defines the hierarchy as follows:

Level 1 - Quoted prices are available in active markets for identical assets or liabilities as of the reported date. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices, such as equities listed on the New York Stock Exchange.

Level 2 - Pricing inputs are other than quoted prices in active markets but are either directly or indirectly observable as of the reported date. The types of assets and liabilities in Level 2 are typically either comparable to actively traded securities or contracts or priced with models using highly observable inputs.

Level 3 - Significant inputs to pricing that are unobservable as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as complex and subjective models and forecasts used to determine the fair value of financial transmission rights.

Our financial accounts consist of prepaid expenses, accounts payable, accounts payable due to related parties and note payable. The carrying amount of our prepaid expenses, accounts payable, accounts payable - related parties and note payable - related parties approximate their fair values because of the short-term maturities. Related party notes payable are non-interest-bearing and payable on demand; therefore, their carrying amounts also approximate fair value.

***Related Party Transactions***

A related party is generally defined as (i) any person that holds 10% or more of our membership interests including such person's immediate families, (ii) our management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with us, or (iv) anyone who can significantly influence our financial and operating decisions. A transaction is considered a related party transaction when there is a transfer of resources or obligations between related parties. Immediate family members are related parties under ASC 850.

***Fixed Assets***

Fixed assets are carried at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives. The fixed assets include property, equipment and software for which ownership is maintained by the Company.

When a property is substantially completed and held for rental, it transitions from being considered a development project (inventory - construction in progress) to an operating asset. At this point, the key measurement focuses on capitalizing costs and transitioning into depreciation as required under ASC 970-340-25-18.

*Capitalization of Construction Costs Ceases after Substantial Completion*

Prior to substantial completion, the costs incurred for the construction and development of the property (such as land acquisition, construction costs, interest, and certain other costs) are capitalized as inventory - construction in progress. Finished Units held for sale are classified as inventory – finished goods; units held for rental are reclassified to fixed assets upon stabilization.

The classification of completed real estate units as either inventory or fixed assets is based on management's intent at the time the property is substantially completed.

Properties intended for sale in the ordinary course of business are classified as inventory. Properties intended to be held and utilized in the Company's hospitality operations, including short-term rental programs, are classified as fixed assets upon stabilization.

Management evaluates intent based on several factors, including:

● marketing and sales activity,

● operational deployment within rental programs,

● contractual commitments with third-party buyers,

● and expected holding period.

Such determinations require judgment and may change based on evolving business strategies and market conditions.

As per ASC 970-340-25-18, once the property is considered substantially complete, the capitalization of costs typically ceases. The entity stops adding new costs to the property's carrying value except for additional improvements or costs that extend the asset's life or improve its utility. This means that these types of costs are no longer added to the property's carrying value once the property is substantially completed and held for rental. Instead, these costs are expensed as incurred, unless they directly enhance the property or extend its useful life.

Once the property is held for rental and substantially complete, the property is classified as a depreciable real estate asset and the total cost capitalized to date up to the point of substantial completion becomes the asset's carrying amount. The cost of the property's carrying amount (less its land value) is allocated over its estimated useful life.

Costs incurred after the property is completed and held for rental are generally expensed unless they extend the property's useful life (ASC 970-340-35-3).

*Impairment Testing (ASC 970-340-35-1 to 35-2)*

Even though the property is measured at cost, impairment testing may be required under ASC 360 if there are indicators that the property's carrying amount might not be recoverable. After substantial completion, the property's carrying value is subject to impairment testing under ASC 360, where a reduction in the property's recoverable value may require a write-down to fair value (ASC 970-340-35). If held at fair value (under ASC 360 or other applicable standards), market-based inputs would be used, including comparable sales, discounted cash flows, or appraisals to determine the fair value of the property.

***Leases***

The Company adopted Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842), and all related amendments on January 1, 2022, on a modified retrospective basis. Under Topic 842, the Company determines if an arrangement is or contains a lease at inception. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The lease term includes options to extend the lease when it is reasonably certain that the Company will exercise that option and when doing so is at the Company's sole discretion. The Company has elected the short-term lease exception for all classes of assets and therefore has not applied the recognition requirements of Topic 842 to leases of 12 months or less. The Company has also elected the practical expedient to not separate lease and non-lease components for all classes of assets. The Company's classes of assets that are leased include real estate leases and equipment leases. Real estate leases typically pertain to the Company's corporate office locations, field operation locations, or vacation properties whereby the Company takes control of a third party's property during the lease period for the purpose of renting the property on a short-term basis.

The Company recognizes lease expense on a straight-line basis over the lease term. The Company's lease agreements may contain variable costs such as common area maintenance, operating expenses or other costs. Variable lease costs are expensed as incurred on the consolidated statements of operations.

We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use ("ROU") as assets, operating lease non-current liabilities, and operating lease current liabilities in our balance sheet. Finance leases are property and equipment, other current liabilities, and other non-current liabilities in the balance sheet.

ROU assets represent the right to use an asset for the lease term and lease liability represent the obligation to make lease payment arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over lease term. As most of the leases don't provide an implicit rate, we generally use the incremental borrowing rate on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The operating ROU asset also includes any lease payments made and exclude lease incentives. Lease expense for lease payment is recognized on a straight-line basis over lease term.

As of March 31, 2026, we are a party to an operating right-of use lease agreement which commenced during the fiscal year ended June 30, 2023. See Note 21 below for details of lessee leases.

***Beneficial Conversion Features***

SU 2020-06 simplifies the accounting for convertible instruments by eliminating several separation models, including the model that required issuers to separately recognize beneficial conversion features ("BCFs") and cash conversion features in equity. Under legacy ASC 470-20 guidance, a BCF was recognized when the conversion price of a convertible instrument was "in-the-money" at issuance, resulting in a separate equity component and a corresponding discount to the host debt instrument.

Upon adoption of ASU 2020-06, the Company no longer applies the beneficial conversion feature model. Instead, all convertible instruments are accounted for as a single liability or a single equity instrument, provided that the embedded features do not require bifurcation as derivatives under ASC 815. The standard also revises the earnings-per-share ("EPS") guidance, requiring application of the if-converted method for convertible instruments and eliminating the treasury-stock method for certain instruments.

The adoption of ASU 2020-06 did not result in a material impact on the Company's consolidated financial statements. As required under the full retrospective adoption approach, previously reported periods have been revised to remove historical BCF amortization, eliminate previously recognized equity components related to beneficial conversion features, and adjust interest expense and carrying values of affected instruments.

Management concluded that the conversion features do not require bifurcation as derivative instruments because (i) the instruments are indexed solely to the Company's common stock, (ii) settlement is required to occur through the issuance of a fixed number of shares or shares based on a standard market price formula with no cash settlement alternative, (iii) the Company has sufficient authorized and unissued shares to settle the instruments, and (iv) the notes do not contain down-round protection, reset, or other provisions that could result in variability inconsistent with equity classification. Accordingly, the convertible notes are accounted for as single liability instruments with no separate derivative liability recognized.

***Foreign Currency Translation***

The Company's reporting currency is the U.S. dollar ("USD"). The functional currency of each foreign subsidiary is determined based on the primary economic environment in which the subsidiary operates. For subsidiaries operating in Belize, the functional currency is typically the Belize dollar ("BZD"), which is pegged to the U.S. dollar at a fixed exchange rate of BZD 2.00 to USD 1.00.

Assets and liabilities of foreign subsidiaries whose functional currency is not the U.S. dollar are translated into U.S. dollars using the exchange rate in effect at the balance sheet date. Income and expense accounts are translated at average exchange rates for the reporting period. Because the Belize dollar maintains a fixed 2:1 peg to the U.S. dollar, translation adjustments arising from the consolidation of Belize subsidiaries are generally minimal. Resulting translation gains and losses are recorded in accumulated other comprehensive income (loss) as a component of stockholders' equity.

For monetary assets and liabilities denominated in currencies other than the subsidiary's functional currency, the Company performs remeasurement into the functional currency using the exchange rate at the balance sheet date, with gains and losses recognized in other income (expense), net in the consolidated statements of operations. Non-monetary assets and liabilities are remeasured at historical exchange rates.

Due to the fixed peg of the BZD to the USD, remeasurement gains and losses related to Belize-based subsidiaries are generally limited unless transactions occur in other foreign currencies.

***Income Taxes***

The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.

The Company adopted section 740-10-25 of the FASB Accounting Standards Codification ("Section 740-10-25"). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures.

The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carrybacks and carryforwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary.

Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. In management's opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.

As of the balance sheet date, the Company has no uncertain tax positions requiring recognition or disclosure under ASC 740-10-25. The Company has not accrued any interest or penalties related to uncertain tax positions. Interest and penalties, if any, would be recognized as a component of income tax expense.

Since the Company has not generated taxable income since inception, no deferred tax assets or liabilities have been recognized as of the balance sheet date. Management will evaluate the need to record deferred tax assets or liabilities in future periods should taxable income or deductible temporary differences arise.

***Revenue Recognition***

Revenue Recognition Standard, ASC 606 is used by the Company to recognize revenue. ASC 606 standards were jointly issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The total booking value is generally due prior to the commencement of the reservation. The total booking value collected in advance of the reservation is recorded on the balance sheets as funds payable to owners, hospitality and sales taxes payable and deferred revenue in the amount obligated to the homeowner, the taxing authority, and the Company, respectively.

The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfils its obligations under each of its agreements:

Step 1: Identify the contract(s) with customers

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to performance obligations

Step 5: Recognize revenue when the entity satisfies a performance obligation

The Company is a development stage corporation, and we have identified certain revenue streams during this development stage.

The Company currently derives its revenue primarily from the short-term unit rentals of sold and unsold inventory at the resort we own and manage.

Revenue from rentals is recognized over the period in which a guest completes a stay.

Other services consist of revenue derived from our real estate brokerage and other related services.

**Other Service Revenue — Real Estate Brokerage and Homeowners' Association Management, and Homeowner Maintenance Services**

In addition to providing vacation rental platform services, the Company provides other services, including real estate brokerage services and homeowners' association ("HOA") management services and homeowner ("HOM") maintenance services. These services are designed to attract and retain homeowners as participants in the Company's vacation rental platform. As part of this strategy, the Company enters into rental management agreements with each Homeowners' Association, if any or the homeowner's directly of the properties it controls or manages.

**Real Estate Brokerage Services**

Under its real estate brokerage services, the Company assists homebuyers and sellers with listing, marketing, selling, and purchasing residential properties. Real estate commissions earned by the brokerage business are recognized as revenue at a point in time, which occurs upon the closing of the related real estate transaction (i.e., the purchase or sale of a home), when the Company's performance obligation is satisfied.

Commissions paid to third-party or affiliated real estate agents are recognized concurrently with the associated revenues and are presented as cost of revenues in the consolidated statements of operations, consistent with ASC 606 requirements for consideration payable to customers and direct costs to fulfill a contract.

**Homeowners' Association Management Services**

Under its HOA management services, the Company provides common-area property management, community governance, compliance administration, and association accounting services to homeowner associations in exchange for a contractual management fee and additional incrementally billed services.

The management services represent a single performance obligation satisfied over time, as customers simultaneously receive and consume the benefits of the Company's services. Accordingly, management fee revenue is recognized over time as the services are rendered.

Incrementally billed services (e.g., one-time maintenance coordination, administrative tasks, compliance processing) represent separate point-in-time performance obligations. Revenue for these services is recognized at the point in time when the related service is completed and control transfers to the customer.

**Homeowner Maintenance Services**

The Company also provides maintenance and repair services directly to homeowners under its HOM services, including routine upkeep, emergency repairs, property inspections, landscaping coordination, preventative maintenance, and other property-care services. These services are typically billed on a per-service or time-and-materials basis.

Each maintenance service represents a distinct performance obligation because the homeowner can benefit from the service on its own. Revenue from homeowner maintenance services is recognized at a point in time, which is when the maintenance work is completed and control of the service transfers to the homeowner.

Costs incurred in connection with maintenance activities, such as third-party contractor fees, materials, and labor, are recognized as cost of revenues when incurred.

***Inventory***

New real estate inventory is carried at the lower of cost or net realizable value. The cost of finished inventories determined on the specific identification method is removed from inventories and recorded as a component of cost of sales at the time revenue is recognized. In addition, an allocation of depreciation and amortization is included in cost of goods sold. Under the specific identification method, if finished real estate inventory can be sold for a profit there is no basis to write down the inventory below the lower of cost or net realizable value.

For real estate inventory - construction in progress that is considered substantially completed and may include the Company's rental pool, the Company has implemented the Real Estate Accounting Guidance under ASC 970 for real estate development, rental, and sales activities. Details of ASC 970 are included in Fixed Assets above.

*Impairment Testing (ASC 330)*

Inventory is measured at the lower of cost and net realizable value (NRV) in accordance with applicable accounting standard ASC 330. The cost of inventory includes all costs of purchase, conversion, and other costs incurred in bringing the inventories to their present location and condition. At each reporting date, inventory is reviewed to ensure its carrying amount does not exceed NRV.

Impairment testing includes all categories of inventory, including raw materials, work-in-progress, and finished goods, as reported in the Company's financial records. Impairment testing of inventory is to ensure the carrying value of inventory does not exceed its recoverable amount. If the NRV is lower than the carrying value, an impairment loss is recognized as part of cost of goods sold.

***Financial Instruments***

Fair Value of Financial Instruments - From inception, the Company adopted ASC 820, Fair Value Measurements and Disclosures, which provides a framework for measuring fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The standard also expands disclosures about instruments measured at fair value and establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

● Level 1: Quoted prices for identical assets and liabilities in active markets.

● Level 2: Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and

● Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

The carrying amounts of financial instruments including cash, accounts payable and notes payable approximated fair value as of March 31, 2026, and 2025 due to the relatively short maturity of the respective instruments.

***Advertising and Marketing Costs***

We expense advertising costs when advertisements occur. Advertising for the Company consists primarily of the creation and marketing of the Awaysis brand guideline, logo, wordmark, tagline, and website.

***Stock Based Compensation***

The cost of equity instruments issued to employees and non-employees in return for goods and services is measured by the grant date fair value of the equity instruments issued in accordance with ASC 718, Compensation - Stock Compensation. The related expense is recognized as services are rendered or vesting periods elapse.

***Net Loss per Share Calculation***

Basic earnings (loss) per common share ("EPS") is computed by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

**Recently Issued Accounting Pronouncements**

As of March 31, 2026, there were several new accounting pronouncements issued by the Financial Accounting Standards Board. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company's consolidated financial statements, except for following:

The Company adopted ASU 2020-06, Debt – Debt with Conversion and options (subtopic 470-20), and all related amendments on July 1, 2024, on a full retrospective method. This new standard removed guidance in ASC 470-20 that required separate accounting for beneficial conversion features and amended disclosure requirements.

**3. GOING CONCERN**

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company has incurred recurring losses from operations and has experienced negative operating cash flows since inception.

As of March 31, 2026, the Company had cash of $1,134,260 and a working capital surplus of approximately $2,100,000.

Management's plans include:

● Continued related party financial support

● Access to credit facilities

● Potential asset sales

● Completion of equity financing transactions, including a potential uplisting

While management believes these plans are feasible, they are subject to uncertainties outside the Company's control. If successfully implemented, these plans are expected to alleviate the substantial doubt.

Management's plans to alleviate these conditions include continued financial support from related parties, utilization of its existing line of credit facilities, additional equity financings, potential asset sales, and the planned uplisting to a national securities exchange and related capital raise.

However, there can be no assurance that such financings will be available on acceptable terms, or at all. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**4. CASH**

As of March 31, 2026, our cash balance was $1,134,260 and as of June 30, 2025, our cash balance was $220,909.

**5. INVENTORY - CONSTRUCTION IN PROGRESS**

As of March 31, 2026, our balance of inventory - construction in progress of real estate under construction was $10,857,743 and as of June 30, 2025, the balance was $11,333,857.

**6. INVENTORY - FINISHED GOODS**

As of March 31, 2026 and June 30, 2025, there was no inventory in finished goods.

**7. DUE FROM RELATED PARTIES**

As of March 31, 2026, and June 30, 2025, the balance of due from related parties was $97,322 and $70,965, respectively. The balance relates to amounts advanced by related parties on behalf of the Company, as well as amounts collected by related parties in connection with the Company's rental property operations.

**8. MORTGAGE NOTES RECEIVABLE**

As of March 31, 2026, and June 30, 2025, the balance of Mortgage Notes Receivable was $840,832 and $515,076, respectively. As of March 31, 2026, the Company held four mortgage note receivables issued in connection with developer-financed villa sales at Chial Mountain Reserve. As of June 30, 2025, the Company held three such notes. The notes are recorded at amortized cost, with interest income recognized using the effective interest method. The notes are due on demand, and the Company retains legal title to the underlying properties until repayment is completed. Accordingly, the notes are classified as current assets on the accompanying consolidated balance sheets.

**Terms of the Notes:**

Principal Amount: $892,208

Interest rate: 7% per annum

Payment Terms: 10 Years. The Notes require monthly payments of principal and interest, commencing on the purchase date and continuing until the balance is fully paid.

Collateral: Title remains with the Company and does not pass to buyers until the Note is full paid.

Prepayment: Borrower may prepay the outstanding balance in whole or in part without penalty. Prepayments are applied first to accrued interest and then to the principal balance.

**Accounting Treatment**

● **Initial Recognition and Measurement:** The Note is initially recognized at its fair value, with subsequent measurement performed at amortized cost using the effective interest rate method.

● **Interest Income:** Interest is accrued and recognized in the income statement over the term of the Note in accordance with the effective interest rate.

● **Credit Losses:** There is no credit losses or allowance since title remain with the company until the Notes are paid in full.

**9.** **OTHER CURRENT ASSETS**

Other current assets consist of balances due from Chial owners, agent rental bookings, and customizations related to the sale of Villa 10. The balance of other current assets as of March 31, 2026, and June 30, 2025, was $59,521 and $21,058, respectively. As of March 31, 2026, the balance consisted of due from Chial owners of $17,837, agent rental bookings of $2,133, and Villa 10 customizations of $39,551. As of June 30, 2025, the balance consisted of due from Chial owners of $15,814, and agent rental bookings of $5,244.

**10. FIXED ASSETS**

The carrying basis and accumulated depreciation of fixed assets at March 31, 2026 and at June 30, 2025 is as follows:

SCHEDULE OF FIXED ASSETS

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| | | | |
|:---|:---|:---|:---|
|  | **Useful Lives** | **March 31, 2026** | **June 30, 2025** |
| Property placed into service | 40 years | 4515905 | 4515905 |
| Site developments | 40 years | 461589 | 408558 |
| Building improvements | 15 years | 263181 | 256105 |
| Vehicles | 5 years | 62175 | 38125 |
| Computer and equipment | 5 years | 22755 | 21517 |
| Furniture and fixtures | 7 years | 16269 | 16067 |
| Software | 3 years | 0 | 6536 |
| Less depreciation and amortization |  | (264555) | (146549) |
| Total fixed assets, net |  | $5077319 | $5116264 |

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The Company recorded depreciation and amortization expense of $118,007 for the nine months ended March 31, 2026, and $113,663 for the year ended June 30, 2025, respectively.

**11. INCOME TAXES – DEFERRED TAX ASSET**

**Income Tax**

For the nine months ended March 31, 2026, and the fiscal year ended June 30, 2025, the Company recorded no current or deferred income tax expense.

As of March 31, 2026, the Company had net operating loss ("NOL") carryforwards of approximately $14,368,692, which are available to offset future taxable income, subject to applicable limitations under the Internal Revenue Code, including the change of ownership limitations of IRC Section 382. The related gross deferred tax asset is approximately $3,017,425, calculated using a U.S. federal tax rate of 21%.

In accordance with ASC 740, Accounting for Income Taxes, deferred tax assets are recognized only to the extent that realization of such assets is more likely than not. In evaluating the realizability of its deferred tax assets, the Company considered both positive and negative evidence, including cumulative historical losses and the absence of objectively verifiable sources of future taxable income as well as the early-stage nature of operations and variability of projected future profitability. Based on this evaluation, management concluded that it is not more likely than not that the deferred tax assets will be realized at this time.

Accordingly, the Company recorded a full valuation allowance against its deferred tax assets, resulting in no net deferred tax asset recognized in the consolidated financial statements as of March 31, 2026.

The Company will continue to assess the realizability of its deferred tax assets at each reporting date and will adjust the valuation allowance in future periods if evidence becomes available that indicates it is more likely than not that some portion of the deferred tax assets will be realized.

**Valuation Allowance Roll forward** 

SCHEDULE OF VALUATION ALLOWANCE ROLL FORWARD

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| | |
|:---|:---|
|  | March 31, |
| Component | 2026 |
| Net operating loss carryforwards (NOLs) | $14368692 |
| Gross deferred tax asset @ 21% | $3017425 |
| Less: Valuation allowance | $(3017425) |
| Net deferred tax asset recognized | $0 |

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**12. OTHER NON- CURRENT ASSETS**

Other non-current assets consist of escrow deposit – real estate and security deposit. The balance of other non-current assets as of March 31, 2026, and June 30, 2025, was $19,500 and $19,500, respectively. As of March 31, 2026, and June 30, 2025, the balance consisted of security deposit of $14,500, and an escrow deposit- real estate of $5,000.

**13. ACCOUNTS PAYABLE**

As of March 31, 2026, and June 30, 2025, the balance of accounts payable was $480,504 and $362,688, respectively, and related primarily to expenses for professional services, construction, SEC filings, outstanding legal expenses and share transfer expenses.

**14. OTHER CURRENT LIABILITIES**

Other current liabilities consist of business and hospitality tax payables, security and escrow deposit liabilities, payroll liabilities, and Chial Reserve homeowners' booking fees. The balance of other current liabilities as of March 31, 2026, and June 30, 2025, were $209,165 and $293,307, respectively.

As of March 31, 2026, the balance consisted of payroll for non-related parties of $168,085, due to Chial owners of $23,151, security deposit liabilities of $16,000, and hospitality tax of $1,929.

As of June 30, 2025, the balance consisted of payroll for non-related parties of $133,548, Chial's escrow deposit payable of $125,000 related to a deposit made in connection with the sale and purchase agreement of a villa and surrounding property, security deposit liabilities of $16,000, due to non-related parties of $13,607, Chial's homeowners revenue and maintenance fees of $3,095, hospitality tax of $2,021, and business tax payable of $36 related to June bookings within Chial Reserve.

**15. ACCRUED EXPENSES**

As of March 31, 2026, and June 30, 2025, the balance of accrued expense was $258,295 and $233,556, respectively, and related to accrued interest and audit fees.

**16. DUE TO RELATED PARTIES**

As of March 31, 2026, and June 30, 2025, the balance due to related parties was $750,205 and $1,855,948, respectively. The balances relate to costs paid on behalf of the Company and funding provided to the Company by Harthorne Capital, Inc. ("Harthorne"), an affiliate of the Company, and other related parties. The balance due to related parties as of March 31, 2026, also includes accrued salaries and payroll-related liabilities for the Company's administrative personnel.

On December 29, 2025, the Company executed a compensation stock exchange agreement pursuant to which certain officers converted accrued and unpaid compensation into equity compensation. The Company converted accrued salaries totaling $2,660,115 into an aggregate of 22,167,628 shares of common stock at a conversion price of $0.12 per share, based on the market price of the Company's common stock on the date of conversion. Certain officers assigned their rights to receive shares issued upon conversion of accrued compensation to immediate family members in accordance with ASC 850, *Related Party Disclosures*. These assignments did not modify the amount of compensation recognized or the terms of the conversion. The Board of Directors approved the conversion and related share issuances on December 29, 2025.

See details of transactions and balances with related parties in the following notes to the consolidated financial statements below:

Note 17 – Notes Payable – Related Parties,

Note 18 – Convertible Notes Payable – Related Parties,

Note 19 – Line of Credit Payable – Related Parties

**17. NOTE PAYABLE – RELATED PARTIES**

As of March 31, 2026, and June 30, 2025, the balance of note payable – related parties was $1,570,000 and $1,500,00, respectively.

On December 20, 2024, the Company executed a due on demand note payable to Michael Singh for the purchase of the stocks of Awaysis Belize Limited and Chial Mountain Limited in the amount of $1,500,000. The balance of this note as of March 31, 2026, is $1,500,000; the note bears no interest. On October 28, 2025, the Company amended the maturity date to the earlier of November 30, 2025, or the up listing of the Company to the NYSE American. Effective February 3, 2026, the Company amended the maturity date to the earlier of February 28, 2026, or the uplisting of the Company to the NYSE American. Effective May 11, 2026, the Company amended the maturity date to the earlier of June 15, 2026, or the uplisting of the Company to the NYSE American.

SCHEDULE OF NOTE PAYABLE RELATED PARTIES

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Holder** |<br>**Principal** | **Current**<br>**Balance** |<br>**Rate** | **Maturity**<br>**Date** | <br>**Security** |
| Michael Singh | $1500000 | $1500000 | 0% | June 15, 2026 | N/A |

---

On January 2, 2026, the Company borrowed $20,000 from KiniConsult Inc., an affiliate of Dr. Narendra Kini, the Chairman of the Company's Board of Directors, evidenced by a Promissory Note bearing interest at 8% with a maturity date of May 15, 2026.

On March 31, 2026, the Company borrowed $50,000 from Dr. Kini, evidenced by a Promissory Note bearing interest at 8% with a maturity date of May 15, 2026.

SCHEDULE OF NOTE PAYABLE

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Holder** |<br>**Principal** | **Current**<br>**Balance** |<br>**Rate** | <br>**Maturity Date** | <br>**Security** |
| KiniConsult Inc | $20000 | $20000 | 8% | May 15, 2026 | N/A |
| Dr. Narendra Kini | $50000 | $50000 | 8% | May 15, 2026 | N/A |
| Total combined | $70000 | $70000 |  |  |  |

---

**18. CONVERTIBLE NOTES PAYABLE – RELATED PARTIES**

As of March 31, 2026, and June 30, 2025, the balance of convertible notes payable – related parties was $1,545,459, and $1,837,278, respectively.

On June 26, 2024, the Board approved a $1.1 million convertible bridge loan to the Company by Harthorne, bearing an annual interest rate of 12%. The note was originally due on June 19, 2025, unless sooner paid in full or converted in accordance with the terms of conversion at $0.30 per share.

On September 16, 2025, the maturity date of this note was extended to November 30, 2025. Effective February 3, 2026, the maturity date of this note was extended to February 28, 2026. Effective May 11, 2026, the maturity date of this note was extended to June 15, 2026.

SCHEDULE OF CONVERTIBLE NOTES PAYABLE

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Holder** |<br>**Principal** | **Current**<br>**Balance** |<br>**Rate** | **Maturity**<br>**Date** | **Conversion**<br>**Price** | <br>**Security** |
| Harthorne Capital | $1100000 | $1100000 | 12% | June 15, 2026 | 0.30 | N/A |

---

On December 20, 2024, the Company executed a convertible note payable to Michael Singh, Co-Chief Executive Officer and significant shareholder, for the purchase of the stocks of Awaysis Belize Limited and Chial Mountain Limited in the amount originally stated at $1,600,000 subject to true up of the purchase price in subsequent periods, and currently adjusted to $295,458 to account for current approximate appraisal. This note carries interest at 3.5% and is also subject to the valuation true-up. On October 28, 2025, the Company amended the maturity date to the earlier of November 30, 2025, or the up listing of the Company to the NYSE American. Effective February 3, 2026, the Company amended the maturity date to the earlier of February 28, 2026, or the uplisting of the Company to the NYSE American. As of March 31, 2026, the balance was trued-up to $295,458 due to villa sales and acquisition cost adjustments. Effective May 11, 2026, the Company amended the maturity date to the earlier of June 15, 2026, or the uplisting of the Company to the NYSE American.

On October 28, 2025, the Company and Chial Mountain entered into an Amendment to Agreement of Purchase and Sale, dated December 31, 2024 and effective December 20, 2024, as amended, to extend the contract period to permit a new appraisal of the Chial Reserve Assets and to provide for the negotiation of an adjustment to the purchase price in light of such appraisal, to be set forth in a post-closing agreement to be executed within thirty (30) days following completion of the new appraisal. The Parties further agreed that either party may dispute the results of the new appraisal within fifteen (15) days of receipt, with the original deadline to execute the agreement being subject to automatic extension to the next feasible date, which shall not constitute a default.

As of the date the financial statements were issued, the appraisal and any related purchase price adjustment had not been finalized. Accordingly, no adjustment has been made to the carrying amounts of the related assets or liabilities as of March 31, 2026. Management will evaluate the outcome of the appraisal and any resulting modification to the purchase price in the period in which it becomes known.

SCHEDULE OF CONVERTIBLE NOTES PAYABLE

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Holder** |<br>**Principal** | **Current**<br>**Balance** |<br>**Rate** | **Maturity**<br>**Date** | **Conversion**<br>**Price** | <br>**Security** |
| Michael Singh | $1600000 | $295458 | 3.5% | June 15, 2026 | Closing price of previous trading day | N/A |

---

On May 21, 2025, the Company entered into a Convertible Promissory Note with Andrew Trumbach, the Company's Co-CEO and CFO as the lender, which memorialized a $150,000 loan and loan terms. The amount borrowed was provided by Dr. Trumbach to the Company on April 10, 2025. Interest on the loan is 12% per annum, payable, with the principal and all fees, costs and expenses then due under the note, on October 10, 2025. The note is convertible into the common stock of the Company, in whole or in part, at the option of Dr. Trumbach at any time prior to its maturity date, at an exercise price per share of $0.16. The Company is using the proceeds from the loan for working capital and general corporate purposes. On October 10, 2025, the maturity date of the note was extended to November 30, 2025. Effective February 3, 2026, the maturity date of the note was extended to February 28, 2026. Effective May 11, 2026, the maturity date of the note was extended to June 15, 2026.

SCHEDULE OF CONVERTIBLE NOTES PAYABLE

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Holder** |<br>**Principal** | **Current**<br>**Balance** |<br>**Rate** | **Maturity**<br>**Date** | **Conversion**<br>**Price** | <br>**Security** |
| Andrew Trumbach | $150000 | $150000 | 12% | June 15, 2026 | 0.16 | N/A |

---

**19. LINE OF CREDIT PAYABLE – RELATED PARTIES**

Between December 20, 2024, and March 31, 2026, the Company borrowed an aggregate of $3,353,047, evidenced by a Secured Promissory Note, dated December 1, 2024, and as amended on April 22, 2025, under a planned committed Line of Credit with BOS Investment Inc. to borrow up to an aggregate of $5,000,000. BOS is an affiliate of Michael Singh, the Company's Co-CEO. The Company used a portion of the proceeds from the loan for the acquisition of an additional operating property in Belize and expects to use additional proceeds for other targeted acquisitions, and to further develop the Company's Awaysis Casamora Assets. The Line of Credit has an outstanding principal balance of $3,353,047 at March 31, 2026, and bears interest at 3.5 percent per annum.

On April 22, 2025, the parties entered into an amendment to the Secured Promissory Note, to provide that principal and interest shall be due on June 1, 2025.

On August 31, 2025, the parties entered into an amendment to the Secured Promissory Note, to provide that principal and interest shall be due November 30, 2025.

Effective February 3, 2026, the parties entered into an amendment to the Secured Promissory Note, to provide that principal and interest shall be due February 28, 2026.

Effective May 11, 2026, the parties entered into an amendment to the Secured Promissory Note, to provide that principal and interest shall be due June 15, 2026.

The note is secured by a priority lien on substantially all of the assets of Awaysis Belize Limited and contains customary events of default, which entitle BOS, among other things, to accelerate the due date of the unpaid principal and accrued and unpaid interest of the note. The parties are finalizing definitive agreements; interim promissory notes govern advances.

SCHEDULE OF LINE OF CREDIT PAYABLE

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Holder** |<br>**Principal** | **Current**<br>**Balance** |<br>**Rate** | **Maturity**<br>**Date** | <br>**Security** |
| BOS Investments | $5000000 | $3353047 | 3.5% | June 15, 2026 | N/A |

---

**20. NOTES PAYABLE - CURRENT**

The Company has notes payable as of March 31, 2026, and June 30, 2025 in the amount of approximately $2,625,638 and $2,596,378, respectively.

On June 30, 2022, the Company purchased from a non-related party, real estate asset appraised at $11,409,500 and executed two unsecured demand promissory notes bearing annual interest rates of 0%. The first is for $2,600,000 and the second was for $280,000. This second note was subsequently fully paid on August 8, 2022.

On March 16, 2026, Awaysis Belize Ltd., a wholly owned subsidiary of Awaysis Capital, Inc, secured a long-term construction loan from The Belize Bank Limited in the amount of $2,051,500 ($2,000,000 loan and $51,500 in loan and closing cost fees) bearing an interest rate of 8% and a maturity date of September 30, 2036. As of March 31, 2026, the balance advanced on the loan is $877,430. The current portion of the amount due is $29,260. The terms of the loan consist of the first 6 months allowing interest only payments.

SCHEDULE OF NOTES PAYABLE

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Holder** |<br>**Principal** | **Current**<br>**Balance** |<br>**Rate** | **Maturity**<br>**Date** | <br>**Security** |
| Curah Capital Corporation | $2600000 | $2596378 | 0.0% | On demand | N/A |
| The Belize Bank Limited Construction Loan – Current portion |  | $29260 |  |  |  |

---

**21. OPERATING LEASES - LESSEE**

The Company leases office space under a non-cancellable operating lease with a term of five years. The lease provides the Company with the right to use the underlying office facility in exchange for fixed lease payments over the lease term. The lease is accounted for in accordance with ASC 842, Leases, and the related right-of-use ("ROU") asset and operating lease liability are recognized on the consolidated balance sheets at the present value of future lease payments.

On October 1, 2025, there was a lease modification to the lease payment based on a change in tax law from the Florida Department of Revenue regarding the taxation of commercial leases. The State of Florida removed all sales tax charged on Commercial rents. The impact of this change decreased the Company's monthly payment by approximately $200, resulting in approximately $7,580 decrease in the total operating lease liability over the remaining term of the lease.

As of March 31, 2026, the Company did not have any additional operating leases that had been executed but were not yet commenced. No other significant new lease obligations, modifications, or renewals were entered into during the reporting period.

The maturity schedule of future minimum lease payments under operating leases and the reconciliation to the operating lease liabilities reported on the

Consolidated Balance Sheets was as follows:

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS

---

| | |
|:---|:---|
|  | **March 31, 2026** |
| Remaining three months ending June 30, 2026 | $21635 |
| 2027 | 87822 |
| Thereafter | 29642 |
| Total operating lease payments | 139081 |
| Present value adjustment | (6853) |
| Total operating lease liabilities | $132228 |

---

As of March 31, 2026, the total operating lease liability amount of $132,228 consists of current and long-term portion of operating lease liabilities of $87,437 and $44,791 respectively.

For the nine months ended March 31, 2026, and the year ended June 30, 2025, operating lease costs were $65,727 and $87,851, respectively.

The following table summarizes the weighted-average remaining lease term and weighted-average discount rate related to the Company's operating leases as of March 31, 2026:

SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERM AND WEIGHTED AVERAGE DISCOUNT RATE

---

| | |
|:---|:---|
|  | **March 31, 2026** |
| Weighted-average remaining lease term, years | 1.6 |
| Weighted-average discount rate, % | 7.0% |

---

**22. NOTES PAYABLE – NONCURRENT**

The Company has notes payable – noncurrent as of March 31, 2026, and June 30, 2025 in the amount of $848,170 and $0, respectively.

On March 16, 2026, Awaysis Belize Ltd., a wholly owned subsidiary of Awaysis Capital, Inc secured a construction loan from The Belize Bank Limited in the amount of $2,051,500 ($2m loan and $51,500 in loan and closing cost fees) bearing an interest rate of 8% and a maturity date of September 30, 2036. As of March 31, 2026, the utilized balance on the loan is $877,430. The current portion due is $29,260 and the long-term portion is $848,170. The terms of the loan consist of the first 6 months allowing interest only payments. The loan will be utilized to fund the completion of the construction of the Awaysis Casamora properties, which is expected within approximately the next 12 months.

SCHEDULE OF NOTES PAYABLE NONCURRENT

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Holder** | **Total Construction Loan** | **Loan Advanced** | **Rate** | **Maturity Date** | **Security** |
| **The Belize Bank Limited - Construction Loan** | $2051000 | $877430 | 8.0% | September 30, 2036 | N/A |
| **Current portion** |  | $29260 |  |  |  |
| **Non-current portion** |  | $848170 |  |  |  |

---

**23. COMMITMENTS & CONTINGENCIES**

***Legal Proceedings***

The Company was not subject to any legal proceedings during the nine months ended March 31, 2026. To the best of management's knowledge, no legal proceedings are pending or threatened against the Company that would have a material adverse effect on its financial position, results of operations, or cash flows.

The Company will continue to monitor any legal or regulatory matters that arise and will update this disclosure in future filings as required.

***Purchase Commitments***

The Company was not party to any purchase commitments during the nine months ended March 31, 2026.

Management is not aware of any non-cancelable purchase obligations or long-term supply agreements that would require disclosure under ASC 440 or Regulation S-K.

**24. STOCKHOLDERS' EQUITY**

***Preferred Stock***

As of March 31, 2026, we were authorized to issue 25,000,000 shares of preferred stock with a par value of $0.01.

No shares of preferred stock were issued and outstanding during the nine months ended March 31, 2026 or the year ended June 30, 2025.

***Common Stock***

As of March 31, 2026, we were authorized to issue 1,000,000,000 shares of common stock with a par value of $0.01, of which 409,330,095 shares of common stock were issued and outstanding and 39,230 shares of common stock were subscribed, contractually obligated and committed to be issued but not yet issued.

During the three months ended March 31, 2026, the Company issued zero common shares and had common shares subscribed of 39,230 in the amount of $7,180 as compensation for professional services. The company cancelled a common stock subscription for the purchase of 943,000 shares in the amount of $943,000 as it was determined to be uncollectible. The cancellation was recorded as direct reduction to subscribed common stock, APIC, and subscription receivable.

During the nine months ended March 31, 2026, the Company issued 24,153,351 common shares in the amount of $2,973,740, and had common shares subscribed of 39,230 in the amount of $7,180.The company cancelled a common stock subscription for the purchase of 943,000 shares in the amount of $943,000 as it was determined to be uncollectible. The cancellation was recorded as direct reduction to subscribed common stock, APIC, and subscription receivable.

During the nine months ended March 31, 2026, the Company issued 22,167,628 common shares for equity compensation of officer salaries in the amount of $2,660,115, issued 1,125,353 common shares for payment of professional services in the amount of $138,947, and issued 860,370 restricted stock shares in the amount of $174,678. The Company reported 39,230 shares subscribed for professional services in the amount of $7,180 as compensation for professional services.

During the fiscal year ended June 30, 2025, the Company issued 1,218,146 common shares in the amount of $410,769. From this amount, the Company issued 467,333 shares for payment of professional services in the amount of $248,518 and issued 750,813 restricted stock shares in the amount of $162,251.

Stock-based compensation of $248,518 was issued for services during the fiscal year ended June 30, 2025, and is included in the General and Administrative expenses in the Consolidated Statements of Operations.

The Company has the following potentially dilutive debt or equity instruments which were issued or outstanding as of March 31, 2026, or for the year ended June 30, 2025:

● On June 26, 2024, the Board approved a $1.1 million convertible bridge loan to the Company by Harthorne, bearing an annual interest rate of 12 %. The note was originally due on June 19, 2025 , unless sooner paid in full or converted in accordance with the terms of conversion at $0.30 per share. On September 16. 2025 this note has been extended to November 30, 2025 . Effective February 3, 2026 this note has been extended to February 28, 2026 . Effective May 11, 2026 this note has been extended to June 15, 2026 .

● On December 20, 2024, the Company executed a convertible note payable to Michael Singh, Co-Chief Executive Officer and significant shareholder, for the purchase of the stocks of Awaysis Belize Limited and Chial Mountain Limited in the amount originally stated at $1,600,000 subject to true up of the purchase price in subsequent period, and currently adjusted to $587,278 to account for current approximate appraisal. This note carries interest at 3.5 % and is also subject to the valuation true-up. On October 28, 2025, the Company amended the maturity date to the earlier of November 30, 2025, or the up-listing of the Company to the NYSE American. On December 18, 2025, the balance was adjusted to $448,352 due to the sale of a villa. Effective February 3, 2026, the Company amended the maturity date to the earlier of February 28, 2026, or the up-listing of the Company to the NYSE American. Effective May 11, 2026, the Company amended the maturity date to the earlier of June 15, 2026 , or the up-listing of the Company to the NYSE American.

 On October 28, 2025, the Company and Chial Mountain entered into an Amendment to Agreement of Purchase and Sale, dated December 31, 2024 and effective December 20, 2024, as amended, to extend the contract period to permit a new appraisal of the Chial Reserve Assets and to provide for the negotiation of an adjustment to the purchase price in light of such appraisal, to be set forth in a post-closing agreement to be executed within thirty (30) days following completion of the new appraisal. The Parties further agreed that either party may dispute the results of the new appraisal within fifteen (15) days of receipt, with the original deadline to execute the agreement being subject to automatic extension to the next feasible date, which shall not constitute a default.

 As of the date the financial statements were issued, the appraisal and any related purchase price adjustment had not been finalized. Accordingly, no adjustment has been made to the carrying amounts of the related assets or liabilities as of March 31, 2026. Management will evaluate the outcome of the appraisal and any resulting modification to the purchase price in the period in which it becomes known.

● On May 21, 2025, the Company entered into a Convertible Promissory Note payable to Andrew Trumbach, the Company's Co-CEO and CFO as the lender, which memorialized a $150,000 loan and loan terms. The amount borrowed was provided by Dr. Trumbach to the Company on April 10, 2025. Interest on the loan is 12 % per annum, payable, with the principal and any and all fees, costs and expenses then due under the note on October 10, 2025 . The note is convertible into the common stock of the Company, in whole or in part, at the option of Dr. Trumbach at any time prior to its maturity date, at an exercise price per share of $0.16 . The Company is using the proceeds from the loan for working capital and general corporate purposes. On October 10, 2025, this note has been renewed to November 30, 2025. Effective February 3, 2026, the maturity date was amended to February 28, 2026. Effective May 11, 2026, the maturity date was amended to June 15, 2026.

The Company has not declared or paid any dividends or returned any capital to common stock shareholders as of March 31, 2026, and June 30, 2025.

In periods where the Company reports a net loss, all potentially dilutive securities – including stock options and convertible notes – are anti-dilutive and therefore excluded from the calculation of diluted loss per share.

***Warrants***

 ****

No warrants were issued or outstanding during the nine months ended March 31, 2026, or the year ended June 30, 2025.

***Stock Options***

The Company adopted the 2022 Omnibus Performance Award Plan in February 2022. The Plan authorizes the granting of 19,775,931 of the Company's Common Stock. No stock options under the Plan were issued or outstanding during the nine months ended March 31, 2026, or for the year ended June 30, 2025.

On February 13, 2023, the Company awarded to certain of its executive officers, options to purchase an aggregate of 22,500,000 shares of the Company's stock at an exercise price per share equal to the fair market value of the Company's common stock on the date of the grant, $0.32 per share; all of which are currently exercisable and outstanding as of March 31, 2026. No expense has been recorded under ASC 718 as there is no compensation expense to be recognized. The expense for stock options is based on the fair value of the options at the grant date and this fair value is determined to be zero.

**25. SUBSEQUENT EVENTS**

We evaluated subsequent events occurring after March 31, 2026, through the date these unaudited consolidated financial statements were issued, as required by ASC 855, Subsequent Events. Based on this review, management identified the following subsequent events that require disclosure:

***Amendment to Chial Purchase Agreement***

On October 28, 2025, the Company and Chial Mountain entered into an Amendment to Agreement of Purchase and Sale, dated December 31, 2024 and effective December 20, 2024, as amended, to extend the contract period to permit a new appraisal of the Chial Reserve Assets and to provide for the negotiation of an adjustment to the purchase price in light of such appraisal, to be set forth in a post-closing agreement to be executed within thirty (30) days following completion of the new appraisal. The Parties further agreed that either party may dispute the results of the new appraisal within fifteen (15) days of receipt, with the original deadline to execute the agreement being subject to automatic extension to the next feasible date, which shall not constitute a default.

As of the date the financial statements were issued, the appraisal and any related purchase price adjustment had not been finalized. Accordingly, no adjustment has been made to the carrying amounts of the related assets or liabilities as of March 31, 2026. Management will evaluate the outcome of the appraisal and any resulting modification to the purchase price in the period in which it becomes known.

***Amendment to Maturity Date of Related Party Promissory Notes***

Effective May 11, 2026, the Company amended the maturity date of the following promissory notes to the earlier of June 15, 2026, or the up listing of the Company to the NYSE American:

&nbsp;&nbsp;&nbsp;&nbsp;1. $1,500,000 Secured Promissory Note, dated December 21, 2024, as amended, between the Company and Mr.
 Singh, which bears no interest; and

2. $1,600,000 Senior Convertible Promissory Note, dated December 20, 2024, as amended, between the Company
 and Michael Singh, bearing interest at 3.5 % per annum; and

Effective May 11, 2026 the Company and BOS amended the $3,000,000 Secured Promissory Note, dated December 1, 2024, as amended, bearing interest at 3.5% per annum to extend the maturity date to June 15, 2026.

Effective May 11, 2026, the Company amended the maturity date of the $150,000 Convertible Promissory Note dated May 21, 2025 with Andrew Trumbach, bearing interest at 12% per annum to June 15, 2026.

Effective May 11, 2026, the Company amended the maturity date of the $1,100,000 Convertible Promissory Note dated June 26, 2024 with Harthorne Capital bearing interest at 0% per annum to June 15, 2026.

Other than the matters described above and in the other notes to these consolidated financial statements, the Company has determined that there were no additional subsequent events requiring recognition or disclosure in the accompanying consolidated financial statements.

**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.**

**Forward-Looking Statements**

The following discussion should be read in conjunction with our unaudited financial statements and related notes included in Item 1, "Financial Statements," of this Quarterly Report on Form 10-Q. Certain information contained in this MD&A includes "forward-looking statements." Statements which are not historical reflect our current expectations and projections about our future results, performance, liquidity, financial condition and results of operations, prospects and opportunities and are based upon information currently available to us and our management and their interpretation of what is believed to be significant factors affecting our existing and proposed business, including many assumptions regarding future events. Actual results, performance, liquidity, financial condition and results of operations, prospects and opportunities could differ materially and perhaps substantially from those expressed in, or implied by, these forward-looking statements as a result of various risks, uncertainties and other factors, including those risks described in detail in the section entitled "Risk Factors" on our Annual Report on Form 10-K for the fiscal year ended June 30, 2025, filed with the Securities and Exchange Commission on November 14, 2025.

Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "would," "will," "could," "scheduled," "expect," "anticipate," "estimate," "believe," "intend," "seek," or "project" or the negative of these words or other variations on these words or comparable terminology.

Considering these risks and uncertainties and especially given the nature of our existing and proposed business, there can be no assurance that the forward-looking statements contained in this section and elsewhere in this Quarterly Report on Form 10-Q will in fact occur. Potential investors should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, there is no undertaking to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.

**Overview**

Awaysis Capital, Inc. operates as an integrated hospitality and real estate operating platform focused on acquiring, developing, and actively managing residential resort communities.

The Company generates revenue primarily through:

● Short-term rental operations

● Property and resort management services

● Real estate brokerage

● Homeowner and maintenance services

While the Company acquires and develops real estate assets, these activities are undertaken to support its core operating platform, rather than for passive investment or long-term yield generation. The Company's strategy is to create operationally integrated residential resort communities that generate recurring revenue through hospitality-driven services.

Increased global trends towards "work from home" opportunities have impacted both residency and travel. We believe that more people are seeking comfortable and convenient places to travel, visit, and live for extended durations. We seek to capitalize on these trends by transforming resort properties in desirable locations into convenient enclaves that facilitate this type of travel or residency. We define an enclave as a gated community that has all the amenities that will allow a person to live, work and play without having to leave the community.

At least initially, we are seeking to develop resorts that have not been completed nor have significant prior operational history. As such, we intend to purchase the real estate underlying the planned community and finish the development, then, depending on the property, we would either sell the finished individual units to buyers, or we would retain ownership of the finished individual units and market them for short- or long-term hotel/resort stays. Individual units sold to third-party buyers can then be used by them for their personal use or in their sole discretion from time to time, book for third party short- or long-term stays, either managed by us or through other arrangements in compliance with local law. In addition, we would own and manage the common areas of each community, including any areas devoted to restaurants/bars, pools, retail, spas and fitness centers, some of which we may determine to outsource to third parties at prevailing market rates. We do not have a limit on the number of units or other parts or amenities of a particular community that we will sell, lease or retain, nor do we have a percentage limit to the amount of revenues generated by the units we do retain, and in such cases, will be a result of market forces from time to time. Any revenue we generate from a particular unit owned by a third party who opts to retain us to manage bookings of their unit will be split between us and the individual owner of the unit, pursuant to a separate agreement between us.

Third-party owners of units have the option to make their units available for short-term rental, subject to applicable local laws and regulations. In jurisdictions such as Belize, all short-term rental bookings must be processed through an entity that holds a valid Belize hotel license. Accordingly, owners who choose to engage the Company for rental management services enter into an exclusive rental management agreement with our licensed operating subsidiary or, where applicable, with the homeowner's association that governs the property. These agreements define the scope of services and specify the management and booking fees payable to the Company.

The Company reconciles bookings, fees, and allocations for each property owner on a monthly basis. Rental income collected on behalf of owners is segregated and tracked by individual unit. Amounts due to owners are subsequently remitted in accordance with the terms of their agreements, after deducting applicable management fees, commissions, taxes, and other agreed-upon charges.

These property management and booking arrangements represent a core component of our business model, supporting the scalability of our platform and enhancing our ability to aggregate inventory across the markets in which we operate.

We intend to offer for sale, or for short-term rental, the finished units in any jurisdiction that permits such activities. To date, we have marketed and offered these units through our website at <u>www.awaysisgroup.com</u>, through online multiple listing services, and through other licensed direct booking and distribution channels.

We are not currently aware of any jurisdictional restrictions that would prohibit the offer, marketing, or rental of these properties in the jurisdictions we are targeting. While our existing properties are located in Belize, the offer and sale of these properties—and the related rental and management arrangements— may occur in both Belize and the United States, provided that all such activities are conducted in compliance with the applicable real estate, consumer protection, securities, and hospitality regulations in each relevant jurisdiction.

We expect to expand our inventory of units and our marketing footprint over time, and we will continue to monitor and comply with the legal and regulatory requirements governing the offer, sale, and rental of real estate assets in all jurisdictions in which we operate or intend to operate.

We are a licensed real estate corporation in the State of Florida and maintain compliance with the Florida Real Estate Commission, the entity that regulates companies providing real estate services such as rentals, management, and sales. Additionally, our business is subject to federal, state, local and foreign laws, rules, and regulations that may vary depending on the geographical location and classification of our individual properties. Hospitality operations are subject to laws and regulations relating to accessibility, and to laws, regulations and standards in other areas such as zoning and land use, licensing, permitting and registrations, safety, environmental and other property condition matters, staffing and employee training, and cleanliness/sanitation protocols.

Additionally, our operating subsidiary is a licensed hotel operator in Belize and maintain compliance with applicable laws and regulations administered by the Belize Tourism Board and other relevant governmental authorities. Our operations are subject to the requirements of the Belize Hotels and Tourist Accommodation Act and related regulations, which govern the licensing, classification, and operation of hospitality establishments throughout the country.

**Revenue Streams**

Our business model is expected to encompass a diversified set of activities across the real estate and hospitality sectors, including real estate development and sales, hospitality rentals, resort operations, and club management. We anticipate generating revenues from the following primary sources:

**Real Estate Sales**

We expect to generate revenue through the sale of developed resort inventory, including condominiums and villas. These real estate sales support our broader development, capital recycling, and growth strategy to expand our inventory of units available to rent.

**Management Services**

We provide comprehensive resort, property, and community management services under agreements with homeowners' associations ("HOAs") and individual homeowners ("HOMs"). These services include resort operations oversight, homeowner services, compliance administration, and property-level operational support, all designed to ensure consistent service quality across our branded resort portfolio.

**Short-Term Rentals**

We manage short-term rental activity for both sold and unsold resort inventory at properties we own or manage. Through our booking channels and licensed distribution partners, we offer high-quality lodging accommodations for vacationers and travelers. Revenues are derived from nightly bookings, cleaning fees, management commissions, and related ancillary services.

We believe this revenue streams collectively support our long-term growth strategy and position us as a differentiated participant in the resort, real estate, and hospitality markets.

**Current Revenue Profile**

As of March 31, 2026, our revenues consist primarily of:

● Monthly
 villa booking income;

● Management
 fee income;

● Rental
 income; and

● Maintenance
 and property-care income.

These revenue sources reflect the early stages of our operating model as we continue to scale our property portfolio and service offerings.

**Sales and Marketing Expenses**

Our sales and marketing expenses consist primarily of salaries, commissions, and other personnel-related costs, including share-based compensation, for employees involved in the marketing, promotion, and support of our products and services. These expenses also include advertising, promotional activities, digital marketing initiatives, public relations, brand development, and related administrative and management costs incurred to support our sales and marketing functions.

**General and Administrative Expenses**

Our general and administrative expenses consist of payroll, employee benefits, and other personnel-related costs, including share-based compensation, associated with our administrative, finance, legal, and corporate support functions. These expenses also include legal and accounting fees, insurance costs, depreciation, technology and software expenses, occupancy and office-related costs, and other administrative fees necessary to support our overall operations and corporate infrastructure.

As discussed in Liquidity and Going Concern Note, Certain officers elected to defer receipt of cash compensation. Such amounts were accrued as liabilities and, upon approval by the Board of Directors, were subsequently settled through the issuance of shares of the Company's common stock. These non-cash settlements reduced accrued compensation liabilities and increased stockholders' equity.

**Results of Operations**

The following discussion and analysis of the Company's results of operations should be read in conjunction with the accompanying unaudited financial statements and related notes included elsewhere in this Report. This discussion contains forward-looking statements that involve risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including those discussed under "Risk Factors" and elsewhere in this Report. The Company's results of operations for interim periods are not necessarily indicative of the results that may be expected for the full fiscal year or for any future period. Unless otherwise indicated, all references to fiscal periods refer to the fiscal periods of Awaysis Capital, Inc.

The Company commenced material operating activities during the fiscal year ended June 30, 2022, following the November 2021 change in control and the February 2022 launch of its business strategy to acquire, develop, and manage residential vacation home communities in desirable travel destinations. This strategy continued throughout the fiscal year ended June 30, 2025, and the nine months ended March 31, 2026, during which the Company incurred increased operating expenses consistent with the expansion of development activities, property improvements, and hospitality operations.

The Company has incurred recurring net losses since inception and has not yet generated revenues sufficient to fully support ongoing operations. Management expects that additional capital will be required to fund development activities, expand hospitality operations, and support working capital needs. Potential sources of liquidity include the issuance of equity securities, debt financing, structured project-level financing, or other strategic arrangements. Although management believes these forms of financing may be available, there can be no assurance that such financing will be obtained on terms acceptable to the Company or at the time required.

The Company is leasing the two commercial buildings at Awaysis Casamora for a total of $18,500 monthly. Management anticipates that cash flows at the Awaysis Casamora property will increase as additional units become rental-ready and as real estate sales activity progresses. During the fiscal year, the Company also completed the acquisition of Chial Mountain Limited. Management expects that this property will contribute meaningfully to the Company's hospitality and booking revenues as development and integration activities advance. However, the timing and magnitude of future cash flows will depend on market conditions, the pace of unit completions, real estate transaction volumes, and demand for hospitality services. Management continues to monitor operating performance and capital requirements in light of the Company's growth trajectory and prevailing market opportunities.

Management has evaluated the impact of upcoming debt maturities on liquidity and the Company's going concern assessment. All such obligations relate to notes payable to related parties. These obligations relate exclusively to related-party notes, which are not expected to impose liquidity pressure because the lenders (controlling shareholders and affiliated entities) have historically provided ongoing financial support and have indicated their willingness to continue doing so. Accordingly, management concluded that these maturities do not create near-term liquidity pressure and do not give rise to substantial doubt about the Company's ability to continue as a going concern.

Management has implemented several measures intended to mitigate liquidity risk, strengthen the capital structure, and preserve operational continuity. These measures include:

1. Conversion of Accrued Obligations to Equity

Management intends to satisfy accrued compensation owed to officers, directors, and related-party service providers through the issuance of common stock in the second quarter, as recommended by SEC counsel. Such equity compensation transactions will reduce current liabilities and improve working capital.

2. Reliance on Related-Party Support and Non-Cash Settlements

The Company continues to rely on financial support from controlling shareholders and affiliated entities, including short-term advances, deferral of repayments, non-cash settlements of interest obligations, and extended payment terms. Because these financing arrangements are related-party in nature, they do not represent near-term third-party liquidity risk. The company depends substantially on related–party financing, which may not be available on commercially reasonable terms.

3. Planned Capital Raising and Uplist Strategy

Management is pursuing capital-raising initiatives intended to support an uplisting to the NYSE American. Management is also preparing for equity raises targeted for the second calendar quarter of 2026, and is engaged in discussions with institutional and accredited investors regarding structured equity and project-based financing opportunities. Additional non-dilutive financing options tied to specific development assets are also under evaluation.

4. Growth Hospitality Revenue and Increase in Cash Flows

The Company's hospitality operations continue to demonstrate positive performance trends, with year-over-year increases in occupancy and average daily rates. Based on current contracts and booking trajectories as we bring online more villas at both properties, management projects hospitality revenues to reach approximately US$1.0 million over the next 12 months.

On March 16, 2026, Awaysis Belize Ltd, a wholly owned subsidiary of Awaysis Capital, Inc was approved for a $2,000,000 USD construction loan with a primary bank in Belize to finalize the construction of Awaysis Casamora. This is expected to allow the Company to complete construction of additional units and consequently increase its hospitality revenues as well as generate profits and cash flow from the sale of completed units.

5. Sale of Condominiums and Villas

The Company has sold two villas at Chial Reserve and is negotiating the sale of the completed commercial building at Awaysis Casamora. The Company is also in the process of taking to market the condominiums units at Awaysis Casamora which are approximately 70 % completed.

Successful execution of these initiatives is expected to improve liquidity, enhance equity capitalization, and support the Company's operating and development activities.

 ****

***Three months Ended March 31, 2026, as Compared to Three Months March 31, 2025***

***Revenues***

Revenue for the three months ended March 31, 2026, was $563,431, compared to the prior three months of $92,808.

This increase was primarily driven by the expansion of short-term rental operations, the sale of a villa, the increase in utilization of resort assets and the growth in service-based revenue streams.

The Belize tourism market experienced continued strength during the period, supported by increased international arrivals, particularly from the United States, and sustained demand for boutique eco-resort and extended-stay accommodations.

As a result of these factors, management believes the revenue growth reflects operational scaling and improved market penetration rather than one-time or non-recurring activity.

***Cost of Goods Sold***

During the three months ended March 31, 2026, and 2025, we incurred cost of goods sold of $358,386 and $0, respectively. The increase was driven by the sale of a villa, increased rental activity and operational scaling of hospitality services.

 ****

***Sales and Marketing Expenses***

During the three months ended March 31, 2026, and 2025, we incurred sales and marketing expenses of $28,276 and $26,340, respectively, consisting of marketing and support of our products and services, promotional and public relations expenses and management and administration expenses in support of rental offerings and marketing. The slight increase in sales and marketing expenses from the three months ended March 31, 2025, to 2026 is due to an increase in marketing services and merchant fees.

***General and Administrative Expenses***

During the three months ended March 31, 2026 and 2025, we incurred general and administrative expenses of $738,619 and $614,179, respectively, consisting of audit and accounting fees, travel and entertainment, payroll and employee benefits, legal fees, filing fees and transfer agent fees, all relating to both sustaining the corporate existence of the Company and public company-related expenses and its continued transitioning from being a shell company to an operating company. The increase in general and administrative expenses from the three months ended March 31, 2025, to 2026 mostly relates to an increase in professional services, rental fees paid to owners, and salary/payroll expenses.

***Operating Results***

During the three months that ended March 31, 2026, and 2025, we recognized operating losses of $(561,850) and $(547,711), respectively. These losses were primarily driven by operating expenses incurred as we continued to scale our hospitality operations under the Awaysis brand and advanced preparations for a registered offering of our securities.

General and administrative costs reflect continued investment in:

● Corporate infrastructure

● Public company compliance

● Operational scaling

We expect operating losses to continue in the near term as we expand our property portfolio, enhance our operational infrastructure, and invest in branding and marketing initiatives to support growth.

***Other Income (Expenses)***

During the three months ended March 31, 2026, and 2025, we incurred other income and expense of $10,745 and $26,254, respectively, consisting of mortgage interest income, offset by interest expense.

***Net Loss***

During the three months ended March 31, 2026, and 2025, we recognized net losses of $(572,595) and $(573,965), respectively. These losses were primarily attributable to the cost of professional fees such as accounting, marketing, legal, filing fees and transfer agent fees required to sustain our corporate existence, comply with public company reporting obligations, and support our increase in operations as we continue the transition from being a shell company into an operating business.

The decrease in net loss from the three months ended March 31, 2025, to 2026 was principally driven by increased revenue generated from the sale of a villa, and the addition of Chial Mountain Limited and the related increase in rental and management income, as well as the operational factors described above. These improvements were partially offset by the ongoing costs associated with scaling our hospitality operations under the Awaysis brand and preparing for future capital-raising activities.

***Nine months Ended March 31, 2026, as Compared to Nine Months Ended March 31, 2025***

***Revenues***

Revenue for the nine months ended March 31, 2026, was $1,173,262, compared to $275,453 for the prior year period.

This increase was driven by expansion of short-term rental operations, the sale of two villas, increased utilization of resort assets and growth in service-based revenue streams

***Cost of Goods Sold***

During the nine months ended March 31, 2026, and 2025, we incurred cost of goods sold of $733,386 and $0, respectively, consisting of the sale two villas. Management determined that this variance represents a purchase price adjustment related to the underlying acquisition, rather than an operating gain or loss.

***Sales and Marketing Expenses***

During the nine months that ended March 31, 2026, and 2025, we incurred sales and marketing expenses of $91,298 and $148,661, respectively, consisting of marketing and support of our products and services, promotional and public relations expenses and management and administration expenses in support of rental offerings and marketing. The decrease in sales and marketing expenses from the nine months ended March 31, 2025 to 2026 is due to the timing of hiring a marketing firm during the nine months ended March 31, 2025, to generate interest in our properties and a decrease in real estate commission expenses.

***General and Administrative Expenses***

During the nine months ended March 31, 2026, and 2025, we incurred general and administrative expenses of $2220,455 and $2,121,010, respectively.

General and administrative costs reflect continued investment in:

● Corporate infrastructure

● Public company compliance

● Operational scaling

***Operating Results***

During the nine months ended March 31, 2026, and 2025, we recognized operating losses of $(1,871,877) and $(1,994,218), respectively. These losses were primarily driven by operating expenses incurred as we continued to scale our hospitality operations under the Awaysis brand and advanced preparations for our uplist to NYSE American.

The decrease in operating loss from the prior year period was primarily attributable to:

&nbsp;&nbsp;&nbsp;&nbsp;1. Increased
 revenue generated from the sale of villas and the addition of rental and management income
 related to the Chial Mountain properties;

2. An
 increase in cost of goods sold, offset by a decrease in marketing expenses, reflecting the
 timing of engaging a third-party marketing firm in the previous period, and

3. A
 decrease in real estate commission expense, timing of professional fee payouts and accounting
 fees.

We expect operating losses to continue in the near term as we expand our property portfolio, enhance our operational infrastructure, and invest in branding and marketing initiatives to support growth.

***Other Income (Expenses)***

During the nine months ended March 31, 2026, and 2025, we incurred other income and expense of $35,624 and $87,656 respectively, consisting of mortgage interest income and foreign exchange gains, offset by foreign exchange losses and interest expense.

***Net Loss***

During the nine months ended March 31, 2026, and 2025, we recognized net losses of $(1,907,501) and $(2,081,874), respectively. These losses were primarily attributable to accounting, marketing, legal, filing fees and transfer agent fees required to sustain our corporate existence, comply with public company reporting obligations and support our increase in operations as we continue the transition from being a shell company into an operating business.

The decrease in net loss from the nine months ended March 31, 2025, includes approximately $2.8 million in stock-based compensation, primarily related to a one-time conversion of accrued compensation into equity, which is non-cash in nature and not expected to recur at similar levels. During the period, the Company issued shares in connection with:

● Stock-based compensation

● Conversion of accrued compensation

**Capital Requirements and Sources of Liquidity**

As of March 31, 2026, we had cash of $1,134,260 and positive working capital surplus of $2,116,627.

The Company currently relies on:

● Operating cash flows (limited during development stage)

● Related party financing

● Capital raising activities

The Company intends to pursue:

● Equity financing transactions

● Potential uplisting to a national securities exchange

● Strategic asset monetization

We believe we have sufficient cash on hand, together with existing funding commitments, to meet our basic operational needs for at least the next 12 months. We expect that the anticipated development costs associated with our initial properties will be funded through a combination of pre-sales, investor subscriptions, advances, or loans from our principal shareholders, rather than through our current cash balances. We will, however, need to raise additional capital to meet our long-term operating and development requirements.

Historically, an affiliate shareholder has advanced funds to support our operations, including costs associated with becoming, and remaining, a fully reporting public company while we work to build long-term shareholder value. This shareholder has indicated an intention to continue providing financial support; however, such intentions do not constitute a binding commitment, and there is no assurance that the shareholders will be able or willing to provide all funding required to meet our objectives.

As of March 31, 2026, this affiliate shareholder has advanced and received a net of approximately $453,821 on our behalf to cover certain Company expenses and has provided $1,100,000 in bridge financing to support our operations. The balance is currently owed to the company due to timing of transfers between the companies.

Between December 20, 2024, and March 31, 2026, the Company borrowed an aggregate of $3,353,047, evidenced by a Secured Promissory Note, dated December 1, 2024, and as amended on April 22, 2025, under a planned committed line of credit with BOS Investment Inc. to borrow up to an aggregate of $5,000,000. BOS is an affiliate of Michael Singh, the Company's Co-Chief Executive Officer.

We used a portion of the proceeds from these borrowings to fund the acquisition of an additional operating property located in Belize. We expect to use the remaining availability under the line of credit to fund other targeted acquisitions and to further develop the Awaysis Casamora assets as part of our broader growth strategy.

On March 16, 2026, Awaysis Belize Ltd, a wholly owned subsidiary of Awaysis Capital, Inc. secured a construction loan from a primary Bank in Belize in the amount of $2,051,500 ($2,000,000 loan and $51,500 in loan and closing cost fees) bearing an interest rate of 8% and a maturity date of September 30, 2036. The terms of the loan consist of the first 6 months allowing interest only payments. The loan will be to finalize the construction of the Awaysis Casamora properties within the next 12 months.

If we are unable to obtain additional advances from our affiliate shareholder, we expect to face significant challenges in raising the funding necessary to execute our business plan. Obtaining debt or equity financing for small, publicly quoted companies, particularly those trading as penny stocks, is inherently difficult. We can provide no assurance that additional financing will be available in the amounts we require or on terms acceptable to us, if at all.

If we are unable to secure adequate additional working capital when needed, we may be required to reduce or delay planned expenditures, extend payment terms with suppliers, liquidate assets where feasible, and/or suspend or curtail planned acquisitions and development activities. Any such actions could materially and adversely affect our ability to implement our business strategy and could have a significant negative impact on our operations and financial condition.

Our plan to satisfy our cash requirements for the next 12 months and beyond, and to further expand our asset base, include generating rental revenues, issuing shares of our capital stock to third parties, and receiving additional advances from our affiliate shareholder. We are currently seeking to raise up to $15 million through the sale of our common stock or other securities offerings. However, there can be no assurance that we will be successful in raising any or all of such capital or in meeting our working capital needs.

Through March 31, 2026, we have raised an aggregate of $14,568,000 in our $25 million private placements offering. We can provide no assurance that we will be able to raise the remaining capital being sought in this offering or in future offerings. Any capital raised through the issuance of equity securities will result in dilution to our existing shareholders. In addition, if we determine to incur indebtedness to finance our operations or growth, such debt may impose debt service obligations, restrictive operating or financial covenants, and other limitations that could constrain our business activities and operational flexibility.

The following table provides a summary of the net cash flow activity for each of the periods set forth below:

---

| | | |
|:---|:---|:---|
|  | **Nine months ended** | **Nine months ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| Cash used in operating activities | $(113370) | $(4635565) |
| Cash provided by investing activities | (32817) | (1042125) |
| Cash provided by financing activities | 1059538 | 5065258 |
| Change in cash | $913351 | $(612162) |

---

***Cash Flows from Operating Activities***

Net cash flows used in operating activities were $(113,370) and $(4,635,565) for the nine months ended March 31, 2026 and 2025, respectively. Net cash used in operating activities primarily consisted of selling, marketing, and general operating expenses, as well as increased spending on construction in progress-related costs incurred to prepare properties for sale or rental. The reduction in operating cash outflows year-over-year reflects improved revenue generation and lower marketing expenditures, partially offset by ongoing operational investments as we continue to scale our hospitality and real estate activities.

***Cash Flows from Investing Activities***

During the nine months ended March 31, 2026, and 2025, net cash flows used in investing activities were $(32,817) and $(1,42,125), respectively. Net cash used in investing activities primarily consist of the purchase of assets and properties. The decrease in investing cash flow reflects the sign of growth for the Company.

***Cash Flows from Financing Activities***

For the nine months ended March 31, 2026, and 2025, net cash provided by financing activities was $1,059,538 and $5,065,258, respectively. The increase in financing cash inflows reflects additional funding received to support our operational and development activities.

We remain dependent on the receipt of capital contributions, debt financing, and other funding sources to support ongoing construction activities and to execute our business plan. We rely on our controlling shareholders to provide continued financial support and access to capital resources. If additional funding is not available to us on reasonable terms, or at all, we may be unable to fully implement our plan of operations, continue development of our properties, or advance our strategic initiatives.

**Critical Accounting Policies**

The preparation of our consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures. These estimates and judgments may have a material impact on our financial condition, results of operations, and cash flows. Areas requiring significant judgment include, but are not limited to, accounts receivable, inventory valuation, real estate development costs, revenue recognition, impairment assessments, and goodwill.

We base our estimates on historical experience and on assumptions that we believe are reasonable under the circumstances. Actual results may differ from these estimates, and such differences may be material. The following section describes the accounting policies that we consider critical because they involve significant judgment by management and require complex or subjective evaluations.

***Inventories***

New real estate inventory is carried at the lower of cost or net realizable value. The cost of finished inventories determined on the specific identification method is removed from inventories and recorded as a component of cost of sales at the time revenue is recognized. In addition, an allocation of depreciation and amortization is included in cost of goods sold. Under the specific identification method, if finished real estate inventory can be sold for a profit there is no basis to write down the inventory below the lower of cost or net realizable value.

As per ASC 970-340-25-18, once the property is considered substantially complete, the capitalization of costs typically ceases. The entity stops adding new costs to the property's carrying value except for additional improvements or costs that extend the asset's life or improve its utility. This means that these types of costs are no longer added to the property's carrying value once the property is substantially completed and held for rental. Instead, these costs are expensed as incurred, unless they directly enhance the property or extend its useful life.

The classification of completed real estate units as either inventory or fixed assets is based on management's intent at the time the property is substantially completed. Properties intended for sale in the ordinary course of business are classified as inventory. Properties intended to be held and utilized in the Company's hospitality operations, including short-term rental programs, are classified as fixed assets upon stabilization.

Management evaluates intent based on several factors, including:

● marketing and sales activity,

● operational deployment within rental programs,

● contractual commitments with third-party buyers,

● and expected holding period.

Once the property is held for rental and substantially complete, the property is classified as a depreciable real estate asset and the total cost capitalized to date up to the point of substantial completion becomes the asset's carrying amount. The cost of the property's carrying amount (less its land value) is allocated over its estimated useful life.

Costs incurred after the property is completed and held for rental are generally expensed unless they extend the property's useful life (ASC 970-340-35-3).

**Revenue Recognition (ASC 606 – Revenue from Contracts with Customers)**

We recognize revenue in accordance with ASC 606, which requires identification of the contract, determination of the performance obligations, allocation of the transaction price, and recognition of revenue as performance obligations are satisfied.

Our primary revenue streams include:

● Real
 Estate Sales: Revenue is recognized at a point in time, when control of the property transfers
 to the buyer at closing.

● Management
 Services: Revenue is recognized over time, as resort and property management services are
 provided under agreements with HOAs or homeowners.

● Short-Term
 Rentals: For rental revenues earned on managed properties, we evaluate whether we act as
 principal or agent. Generally, we act as an agent for owners, recognizing management commissions
 when the service is performed.

● Maintenance
 Services: Revenue is recognized at a point in time when the maintenance service is completed.

Judgment is required in determining whether the Company is the principal or agent in rental and service transactions, evaluating contract terms, estimating variable consideration, and determining the appropriate timing of revenue recognition.

**Item 3. Quantitative and Qualitative Disclosures About Market Risk.**

Not required.

**Item 4. Controls and Procedures.**

**Evaluation of Disclosure Controls and Procedures**

The Company needs to implement disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed in the Company's Exchange Act reports are recorded, processed, summarized, and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission, and that such information is accumulated and communicated to our Co-Chief Executive Officers and Chief Financial Officer to allow timely decisions regarding required disclosure.

As of March 31, 2026, the Co-Chief Executive Officers and Chief Financial Officer carried out an assessment of the effectiveness of the design and operation of our then existing disclosure controls and procedures pursuant to Exchange Act Rules 13a-15(b) and 15d-15(b). As of the date of this assessment, the Co-Chief Executive Officers and Chief Financial Officer concluded that the Company's disclosure controls and procedures were not effective as of March 31, 2026 to provide reasonable assurance that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosures, primarily as a result of the late filing of certain reports with the Securities and Exchange Commission. The Company's management is seeking to remedy this deficiency.

This Form 10-Q does not include an attestation report from our registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to rules of the Securities and Exchange Commission that permit us to provide only management report in this Form 10-Q.

**Changes in Internal Control Over Financial Reporting.**

There were no changes in our internal control over financial reporting, identified in connection with the evaluation of such internal control that occurred during our last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

**PART II**

**OTHER INFORMATION**

**Item 1. Legal Proceedings.**

None.

**Item 1A. Risk Factors.**

There have been no material changes to the risk factors described under Item 1A of our Annual Report on Form 10-K for the fiscal year ended June 30, 2025, filed on November 14, 2025.

**Item 2. Unregistered Sale of Equity Securities and Use of Proceeds.**

None.

**Item 3. Defaults Upon Senior Securities.**

None.

**Item 4. Mine Safety Disclosures.**

Not applicable.

**Item 5. Other Information.**

During the nine months ended March 31, 2026, no director or officer, as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended, of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

**Item 6. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Document** |
| 3.1 | [Articles of Incorporation (1)](https://www.sec.gov/Archives/edgar/data/1021917/000164117225005736/ex3-1.htm) |
| 3.2 | [Certificate of Amendment of Certificate of Incorporation (1)](https://www.sec.gov/Archives/edgar/data/1021917/000164117225005736/ex3-2.htm) |
| 3.3 | [Certificate of Amendment to Articles of Incorporation (1)](https://www.sec.gov/Archives/edgar/data/1021917/000164117225005736/ex3-3.htm) |
| 3.4 | [By-Laws (1)](https://www.sec.gov/Archives/edgar/data/1021917/000164117225005736/ex3-4.htm) |
| 10.1 | [Promissory Note, dated March 31, 2026, between Awaysis Capital, Inc. and Narendra Kini. (2)](https://www.sec.gov/Archives/edgar/data/1021917/000149315226015886/ex10-1.htm) |
| 10.2 | [Promissory Note, dated January 2, 2026, between Awaysis Capital, Inc. and KiniConsult Inc. (2)](https://www.sec.gov/Archives/edgar/data/1021917/000149315226015886/ex10-2.htm) |
| 10.3\*+ | [Credit Facility and Bank Note, effective dated March 16, 2026](ex10-3.htm) |
| 31.1\* | [Certification of Chief Executive Officer, pursuant to Securities Exchange Act Rule 13(a)-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](ex31-1.htm) |
| 31.2\* | [Certification of Chief Financial Officer, pursuant to Securities Exchange Act Rule 13(a)-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](ex31-2.htm) |
| 32.1\* | [Certification of Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](ex32-1.htm) |
| 32.2\* | [Certification of Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](ex32-2.htm) |
| 101.INS | Inline XBRL Instance |
| 101.SCH | Inline XBRL Taxonomy Extension Schema |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation |
| 101.DEF | Inline XBRL Taxonomy Extension Definition |
| 101.LAB | Inline XBRL Taxonomy Extension Labels |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL and contained in Exhibit 101) |

---

---

| | |
|:---|:---|
| \* | Filed herewith. |
| + | Portions of this exhibit have been omitted pursuant to Rule 601(b)(10) of Regulation S-K. |
| (1) | Incorporated by reference from the exhibit included in the Company's Amendment No. 1 to the Annual Report for the fiscal year ended June 30, 2024. |
| (2) | Incorporated by reference from the exhibit included in the Company's Current Report on Form 8-K filed with the SEC on April 9, 2026. |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | |
|:---|:---|
|  | **AWAYSIS CAPITAL, INC.** |
| Date: May 15, 2026 | */s/ Michael Singh* |
|  | Michael Singh |
|  | Co-Chief Executive Officer |
|  | (Co-Principal Executive Officer) |
| Date: May 15, 2026 | */s/ Andrew Trumbach* |
|  | Andrew Trumbach |
|  | Co-Chief Executive Officer and Chief Financial Officer |
|  | (Co-Principal Executive Officer, Principal Financial and Accounting Officer) |

---

## Exhibit 10.3

**Exhibit 10.3**

**CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. [\*\*\*] INDICATES THAT INFORMATION HAS BEEN REDACTED.**

March 16<sup>th</sup> 2026

Awaysis Belize Limited

3301 Chetumal Street

Belize City, Belize

Guarantors: Yacht Club Resorts development Company Limited, Mr. Michael Singh, Mr. Andrew Trumbach

Dear Clients,

The Belize Bank Limited hereinafter referred to as the "Bank") is pleased to advise that we will make available to Awaysis Belize Limited (the "Borrower"), the following credit facility/facilities on the terms and conditions outlined below and in Schedule A *(General Terms and Conditions),* Schedule B (*Conditions Precedent),* Schedule C *(Security Documents)*, and Schedule D *(Form of Acceptance)* of this facility letter agreement (hereinafter this facility letter together with Schedule A, Schedule B, Schedule C and Schedule D shall collectively be referred to as "**the Agreement**"):

**<u>CREDIT A: Loan Facility</u>**

**(A)** **AMOUNT:** The
sum of *Four Million One Hundred Three Thousand* in the currency of Belize Dollars BZ$4,103,000.00.

**(B)** **PURPOSE:** *To assist with renovation and development of 12 condominiums in San Pedro Town S4mm and loan fees and closing costs of S103m.* 

**(C)** **INTEREST RATE:** Current
Prime Rate minus 0.50% per annum, effectively 8.0% per annum or such other rate as the Bank may in its sole discretion charge from time
to time. The Current Prime Rate of the Bank at the date of this Agreement is 8.50%.

**(D)** **LATE PAYMENT INTEREST RATE:** The
Late Payment Interest rate is 10% per annum.

**(E)** **REPAYMENT** This
Loan Facility shall be repayable with a 6-month interest-only period. Thereafter, the loan shall be amortized over a period of 114 consecutive
installments of principal and interest, following the expiration of the interest-only period, with a final payment of any outstanding
balance, unless otherwise revised by the Bank. Notwithstanding the aforementioned repayment term, 50% of all condominium sales proceeds
shall be applied as principal payments to accelerate repayment of the loan.

**(F)** **LATE FEE:** A
fee of $100.00 will be charged to the account of the Borrower if any loan payment due is not made within five (5) days of the due date
for such payment.

**(G)** **FEES:** 

&nbsp;&nbsp;&nbsp;&nbsp;(i) Loan
 Origination Fee: A
 non-refundable fee equivalent to 1% of the amount of this Facility shall be due and payable upon execution of this Agreement by Borrower.

(ii) Loan
 Commitment Fee: A
non-refundable fee equivalent to1% of any unused or undisbursed portion of the Loan will be charged on a monthly basis.

(iii) Amendment Any
material amendment of this Agreement or review made at the request of the Borrower will attract an amendment fee of 1% of the amount
outstanding under this Agreement. A material amendment shall mean a change in tenor, interest rate, security, repayment frequency and/or
any agreement that will require the approval of the Bank's internal credit authorities.

**(H)** **SECURITY:** All
amounts payable by the Borrower to the Bank under this Facility shall be secured by the security documents set out in Schedule C hereto.

**(I)** **MATURITY DATE:** This
Facility will mature on September 30<sup>th</sup> 2035 unless otherwise agreed by the Bank and the Borrower, provided always that the
Bank may terminate this Facility at any time by notice to the Borrower in writing, whereupon all amounts then outstanding under the Facility
together with interest and other sums for which the Borrower is liable shall be immediately due to payable without further notice or
demand.

**(J)** **DEFAULT INTEREST:** The
current rate of Default Interest is 18.0% per annum

**(K)** **GUARANTOR(S):** *Yacht Club Resorts Development Company Limited, Mr. Michael Singh, Mr. Andrew Trumbach* 

**<u>SPECIAL TERMS:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;1. All
 Facilities granted by the Bank may, at the discretion of the Bank, be reviewed annually prior
 to the expiration of the term of the Facility to ensure compliance with the terms and conditions
 of this Agreement, to review all terms and to ensure that the scheduled expiry date is maintained
 and for any other purpose deemed relevant by the Bank. The first review will be held on September
 30<sup>th</sup> 2026 or such other date advised by the Bank to the Borrower for this purpose.

2. The
 Borrower will provide the Bank with a copy of its monthly management accounts/financial statements/audited
 balance sheets 120 days following the closure of the company's financial year;

**3.** **Insurance over parcel 2468 block 36 to be renewed with BBL interest stated** 

**4.** **Loan 190925010510002 in name of Pendevco to be regularized.** 

**0.** **Assignment of all rental proceeds to BBL from all charged properties by Awaysis Belize Ltd.** 

**1.** **Lodgment with the bank by Yacht Club Resort over Strata Parcels 5513 H2, H3, H5, H7, H8, H9, H12, H13, H14 and H15, Block 7 of the San Pedro Registration Section.** 

**2.** **Transfer of land to be executed over parcels 577 &576 block 7 in San Pedro Registration Section in name of Awaysis Belize Limited.** 

**3.** **Transfer of land to be executed over parcels 5513 H4 and II6 block 7 in San Pedro Registration Section in name of Awaysis Belize Limited.** 

**<u>Condition Subsequent</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**4.** **Lodgment with the Bank over Strata Title Parcels 5513 H4 & H6 as soon as titled is available.** 

**5.** **Adequate F&H insurance to be attained over all condo units at Yacht Club Resorts and assigned to BBL by June 2026.** 

**6.** **Borrower to provide monthly sales report (at minimum, report must include unit number, sale price, buyer name, payment received and amount outstanding)** 

**7.** **All condo sales are to be deposited to Borrower's account with BBL.** 

Credit Facility Agreement <br> 3

Kindly confirm your acceptance of the terms and conditions set out in this Agreement by signing and returning the attached duplicate of this letter to us on or before March 31<sup>st</sup> 2026 together with your executed Acceptance Letter in the form set out in Schedule D, at which time this offer, if not accepted, will expire.

---

| | |
|:---|:---|
| Yours truly, |  |
| */s/ Judith Augustith* | |
| Judith Augustih (Ms.) |  |
| Sales and Business Relationship Manager |  |
| The Business Banking Unit |  |
| The Belize Bank Limited |  |

---

**<u>SCHEDULE A</u>**

**<u>GENERAL TERMS AND CONDITIONS</u>**

**1.** **Definitions and Interpretation**

1.1 In these General Terms and Conditions and in the Facility Letter, unless the context otherwise requires, the following expressions shall have the following meanings:

**"Acceptance Letter"** means a letter issued by the Borrower to the Bank in the form set out in Schedule D, wherein the Borrower indicates his acceptance of the terms and conditions of the Agreement";

**"Authorised Third Parties";** each an **"Authorised Third Party"** means any lawful court or tribunal in Belize, the Central Bank of Belize, the Government of Belize, the Financial Intelligence Unit, credit bureaus, credit reporting agencies, rating agencies, potential purchasers of the business of the Bank, Bank Group, correspondent banks, third parties authorised to receive Data pursuant to any order of a lawful court in Belize, any agent or contractor providing services to the Bank and the Bank's professional advisors;

**"Bank Group"** means the Bank's ultimate holding company, any subsidiary and affiliate of the Bank or of its ultimate holding company and all associated companies (being companies in which an equity interest is held by the foregoing);

**"Business Day"** means a day (except Saturdays, Sundays and public holidays) on which the Bank is open for business in Belize;

**"Commitment"** means the loan amount that the Bank has committed to provide to a Borrower under a Facility;

**"Current Prime Rate"** means the variable reference rate of interest per year declared by the Bank from time to time to be its prime rate for loans made in the local currency of the country of Belize;

**"Data"** means information concerning the relationship and agreement made between the Bank and any Borrower and/or any Guarantor, including but not limited to their name and address, and if the Borrower is a company then its beneficial ownership information, the amount of assets held with the Bank, the amount of revenues and income, credit and debit memos, statements of account, copies of Security Documents, records and any other information regarding the relationship with the Bank;

Credit Facility Agreement <br> 5

**"Default Interest"** means a rate of interest, as determined by the Bank from time to time, charged on any unpaid Liabilities upon (i) the occurrence of an Event of Default or (ii) when any payment due under a Facility is at least three (3) months in arrears or (iii) any Liabilities are not paid by the Borrower to the Bank on demand;

**"Event of Default"** means any of the events mentioned in Clause 12 or any event, which upon its occurrence or with a lapse of time and/or the giving of notice and/or a determination being made under the relevant Clause or paragraph, would constitute any of the events mentioned in Clause 12.

**"Facility"** means all banking or credit facilities (or any part thereof) from time to time made or to be made available by the Bank to the Borrower; and references to **"each Facility", "the relevant Facility", "any Facility"** and **"no Facility"** shall mean any such banking or credit facility as the context requires;

**"Facility Letter"** or **"Letter"** means the facility letter(s) or loan agreement(s) (including all its (their) schedules and appendices) entered into between the Bank and the Borrower in relation to the Facility, as amended, varied, supplemented and/or replaced from time to time; **"the Facility Letter",** where the context requires, means any Facility Letter or all the Facility Letters;

**"General Terms and Conditions"** means these General Terms and Conditions for Facilities set out in Schedule A, as amended and in force from time to time;

**"Installment Payment Date"** means any day on which a repayment installment of the Loan falls due;

**"Late Payment Interest Rate"** means a rate of interest, as determined by the Bank from time to time, charged by the Bank for the account of the Borrower on the amount of any payment under a Loan Facility not paid on its due date, in addition to normal interest;

**"Liabilities"** means the total from time to time of all indebtedness owed by the Borrower to the Bank, whether under a Facility Letter or otherwise;

**"Loan"** means, as the context requires, a drawing of principal under the Facility or the aggregate outstanding principal amount in any currency (or currencies) of all such drawings from time to time;

**"Material Adverse Condition"** shall mean: (i) non-compliance with the terms and conditions of approval of a Facility; (ii) a material reduction in security margins or values, including minimum credit balances, where applicable; and/or (iii) significant deterioration in or development factors that are likely to impair the repayment of the Facility.

**"Overdraft Limit"** means the amount of the maximum Overdraft granted by the Bank and includes a reference to any revised limit for the Overdraft facility where the Bank has approved such revision;

Credit Facility Agreement <br> 6

**"Surcharge Interest"** means a sum of interest charged by the Bank to the Borrower in addition to normal interest on either (a) the amount by which the Overdraft Limit is exceeded during the Term of the Overdraft Facility; or (b) on the entire balance due under the Overdraft Facility if payment of the entire amount of the Overdraft Facility is past due.

1.2 In this Agreement (unless the context otherwise requires):-

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.1 words
 applicable to natural persons shall include any body of persons, companies, corporations,
 firms or partnerships, states, administrative and governmental entities, and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.2 references
 to the masculine gender include the feminine and neuter genders and vice versa, and references
 to the singular number include the plural;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.3 references
 to any Schedule, Clauses, sub-clauses, paragraphs and subparagraphs are references to the
 schedules, clauses, sub-clauses, paragraphs and sub-paragraphs of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.4 the
 headings of clauses and the underlined introductory words to a sub-clause are inserted for
 ease of reference only and shall be ignored in construing this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.5 references
 to any statute, law, enactment, rule or regulation include the statute, law, enactment, rule
 to regulation as reenacted, amended or extended from time to time;

1.2.6 references to any document shall be deemed to include references to such document as varied supplemented or replaced from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.7 all
 annexures, schedules or appendices to this Agreement, including but not limited to Schedule
 A, Schedule B, Schedule C and Schedule D shall be taken, read and construed as essential
 parts of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.8 where
 two or more persons or parties are included or comprised in any agreements, covenants, terms,
 stipulations and undertakings expressed to be made to such persons or parties the same shall
 be enforceable by them jointly and severally and all agreements, covenants, terms, stipulations
 and undertakings expressed to be made by or on the part of such persons or parties shall
 be deemed to be made by and binding upon such person or parties jointly and severally; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.9 words
 denoting an obligation on a person or party to do any act, matter or thing include an obligation
 to procure that it be done and words placing a person or party under a restriction include
 an obligation not to permit infringement of that restriction.

Credit Facility Agreement <br> 7

1.3 If this Agreement is signed by more than one person as the Borrower (whether a partnership or otherwise):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.1 the
 expression "the Borrower" or "a Borrower" shall include each such
 person (each a "Joint Borrower") and the liability of Joint Borrowers under the
 Agreement and otherwise to pay any sums due under these General Terms and Conditions shall
 be joint and several;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.2 any
 demand for payment on any one or more of the Joint Borrowers shall be treated as a valid
 demand on all Joint Borrowers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.3 the
 Bank may release or discharge any one or more of the Joint Borrowers from liability or compound
 with, accept compositions from, or make any other arrangement with, any of such persons without,
 in consequence, releasing or discharging or otherwise prejudicing or affecting its rights
 and remedies against any other Joint Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.4 these
 General Terms and Conditions and the liability of the other Joint Borrowers otherwise to
 pay any sums due under this Agreement shall not be affected by the death, retirement, bankruptcy,
 incapacity or dissolution of any Joint Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.5 the
 fact that any Joint Borrower is not bound by any provision (for whatever reason) or any provision
 is invalid or unenforceable against any Joint Borrower (for any reason) shall not discharge
 the other Joint Borrower who shall be and continue to be bound; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.6 until
 all sums payable by the Borrower have been paid in full to the Bank, no Joint Borrower will,
 without the prior written consent of the Bank, exercise or claim any rights available to
 it against any other Joint Borrower.

**2. Conditions Precedent**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 The execution of this Agreement will be subject to fulfillment
of the following general conditions precedent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1 receipt by the Bank of all Know Your Customer "KYC"
documentation for the Borrower and any Guarantor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2 completion of, and provision by the Borrower and any Guarantors
of the conditions precedent set out in Schedule B hereto and the Security Documents and the items and evidence listed in Schedule C hereto
(save where completion or provision of any such documents, items or evidence is waived by the Bank);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3 the acceptance by the Borrower and all Guarantors of the terms
and conditions of this Agreement and receipt of the executed Acceptance Letter in the form set out in Schedule D hereto;

Credit Facility Agreement <br> 8

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.4 payment by the Borrower of all fees and expenses due for any
Facility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.5 the non-occurrence of a material disruption or material adverse
change in the financial, political, and economic, or other conditions that could, in the sole opinion of the Bank, affect the successful
closing of any Facility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.6 absence of any material adverse change in the financial and
operating conditions of the Borrower between the date of this letter and the date of closing of this transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.7 the Borrower shall be in compliance at the relevant time, with
the terms and conditions of, and there shall have been no breach of or default under any Facility Agreement or any other Security Document
or any other agreement between the Borrower and the Bank.

2.2 The Commitment under a Facility shall become available to the Borrower when the Bank has received the executed duplicate of the applicable Facility Letter, documents and evidence listed in Schedule B and in Schedule C, in each case in form and content satisfactory to the Bank, the executed Acceptance Letter in the form set out in Schedule D, and upon fulfillment of the conditions set out in Clause 2.1 above.

2.3 The terms and conditions set out in Clause 2.1 above, are inserted for the sole benefit of the Bank and may be waived by the Bank in whole or in part in respect of any Facility with or without terms or conditions, without prejudicing the rights of the Bank to assert such terms and conditions in whole or in part in respect of any other Facility or with regard to subsequent drawings in respect of the same Facility.

**3. Availability**

3.1 Unless otherwise agreed or waived by the Bank, no Facility or other banking service will be made available by the Bank unless the Borrower satisfies all conditions precedent and/or pays all fees and charges required in respect of the relevant Facility or banking service pursuant to a Facility Letter or otherwise.

3.2 All expenses, including but not limited to stamp duty, legal and professional fees will be for the account of the Borrower and shall be paid in full without any deductions or withholding. Legal and other fees related to collection, enforcement and recovery of any amount due to the Bank under this Agreement will be for the account of the Borrower. All fees arising in connection with this credit facility from time to time shall be for the account of the Borrower. The Borrower gives to the Bank the right to debit any account of the Borrower held with the Bank to settle such fees and expenses.

3.3 All Facilities shall be made subject to such limit or limits as may be agreed between the Borrower and the Bank or otherwise as varied and revised by the Bank at its absolute discretion from time to time. The Borrower agrees that the Bank is entitled at any time to increase, reduce or otherwise vary the credit limit(s) applicable to any Facility and the Bank may give prior notice of such increase, reduction or variation if this is reasonably practicable to do so.

Credit Facility Agreement <br> 9

3.4 If a Facility is an overdraft facility, even though the amount outstanding under such Facility has not exceeded the limit or limits applicable to such Facility, the Bank may at any time, at its absolute discretion, without prior notice and without assigning any reason therefor refuse to make available to the Borrower advance(s) under such Facility or terminate such Facility.

3.5 All funds made available by the Bank to the Borrower by way of a Commitment must be used within three (3) months of the Bank making such funds available to the Borrower for drawing.

**4. Payments**

4.1 All payments under or in respect of a Facility shall be made not later than 3:00 pm Belize time on the due date for value in immediately available funds in the currency of the Facility to the Bank at such account it may from time to time instruct the Borrower. If any payment becomes due on a day which is not a Business Day, the due date of such payment will be extended to the next Business Day unless such Business Day is in a new calendar month in which case such payment shall be made on the immediately preceding Business Day.

4.2 Payments by the Borrower to the Bank shall be made without set-off or counterclaim and free and clear of any withholding or deduction (save as required by law) for any present or future taxes, levies, imposts, duties or other charges. If a Borrower is obliged by law to make any such withholding or deduction, it will pay the Bank in the same manner and at the same time, additional amounts to ensure that it receives a net amount equal to the full amount which we would have received if no such deduction or withholding had been required. The Borrower shall deliver to the Bank on demand evidence satisfactory to the Bank that any amount withheld or deducted has been paid to the proper authority.

4.3 The Bank will maintain an account or accounts evidencing the amounts from time to time lent by, owing to and paid to it under this Facility. Such account or accounts shall (save for manifest error) be conclusive evidence of the amounts from time to time owing by the Borrower hereunder.

4.4 The Bank may, without notice to the Borrower, apply any credit balance which is at any time held by any office, branch affiliate or Bank Group for the account of the Borrower in or towards satisfaction of any sum then due and payable from the Borrower under the Agreement.

4.5 All bank accounts of the Borrower opened with the Bank shall be governed and operated in accordance with the Bank's Standard Terms and Conditions for such accounts.

Credit Facility Agreement <br> 10

4.6 Notwithstanding any provision in this Agreement or any other agreement between the Bank and the Borrower or any other person, all Liabilities are subject to the Bank's overriding right to payment on demand at any time. Upon the Bank making any such demand, all Liabilities shall become immediately due and payable and the Borrower shall forthwith pay to the Bank all the Liabilities or any part thereof as specified in such demand.

**5. Interest**

5.1 Subject to the other provisions of this Clause 5, all amounts advanced under any Facility will be charged with interest at such rates and in such manner as specified in the applicable Facility Letter.

5.2 Unless otherwise specified and subject to Clause 5.1 above, interest shall accrue from day to day on the basis of the number of days elapsed and a 365-day year or otherwise according to conventional market practice as the Bank may determine.

5.3 Interest is due once per month unless the Agreement states otherwise. Unless other arrangements have been made, the Bank will automatically debit your designated account for amounts of interest owing. In the event that the Borrower does not deposit sufficient funds into the designated account to be debited, interest will be charged on overdue interest, which is also known as compounding.

5.4 Notwithstanding any provision in the Facility Letter or any other agreement between the Bank and the Borrower or any other person and subject to this Clause 5, the Bank may at any time, in its absolute discretion, by giving prior reasonable notice to the Borrower, vary or modify (unless such variation or modification is beyond the Bank's control) the rate(s), mode of payment or basis of calculation of any interest, charges, commissions or fees.

5.5 The interest rates provided for in a Facility Letter are variable interest rates and will change automatically, without notice, whenever the Current Prime Rate changes.

5.6 If a Facility is an overdraft facility, interest shall be calculated on the daily debit balance and payable monthly in arrears and debited to the Borrower's current account(s) with the Bank on such date as may be determined by the Bank. Interest so debited shall become part of the principal due from the Borrower and shall bear interest accordingly.

5.7 The Bank may in its absolute discretion charge Late Payment Interest on any amount not paid on its due date under a Loan Facility.

**6. Default Interest**

6.1 The Bank shall be entitled to charge Default Interest on Liabilities at the Default Rate stated in the Facility Letter for the time being or at such rate as the Bank may in its discretion determine and in such manner as it may determine in its absolute discretion. Such interest will be payable by the Borrower both before and after judgment and may be compounded at monthly or other intervals as the Bank may determine in its absolute discretion.

Credit Facility Agreement <br> 11

**7. Surcharge Interest**

7.2 Surcharge Interest (in addition to the standard rate of interest applicable to an Overdraft Facility) will apply to any drawings under an Overdraft Facility in excess of the Overdraft Limit and will be debited to the bank account of the Borrower monthly in arrears (or at such other intervals as may be notified by the Bank to the Borrower from time to time) and on final payment. The Bank's current rate of Surcharge Interest is set out in the applicable Facility Letter.

7.3 We reserve the right from time to time to change the rate of Surcharge Interest. Any variation in the rate of Surcharge Interest will be notified to the Borrower.

**8. Force Majeure**

8.1 If any change in applicable law shall (i) increase the cost to the Bank of maintaining the Facility or of maintaining or funding a Loan, (ii) reduce the amount of any payment received or receivable by the Bank in respect of a Facility, (iii) oblige the Bank to make a payment in respect of the amount of any sum received or receivable by it in respect of a Facility, (iv) cause the Bank to forgo any interest or other sum received or receivable by it or (v) render the Bank otherwise unable to obtain the rate of return on its overall capital which it would otherwise have been able to achieve but for making the Facility available, then the Bank may notify the Borrower and the Borrower shall indemnify the Bank against that increased cost, reduction, payment or forgone interest or other sum on demand.

**9. Representations and Warranties**

9.1 The Borrower and every Guarantor (where applicable) represents and warrants to the Bank on the date of acceptance of the Agreement and on each date that the Facility is available or outstanding (with reference to the facts and circumstances then existing) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1.1 at the time of executing this Agreement there is no pending
or to its knowledge threatened investigation, action, litigation or proceeding which is likely to: (a) have a material adverse effect
on his business condition or operations, or (b) impair his ability to perform its obligations under this Agreement or (c) affect the
legality, validity or enforceability of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1.2 he has power and authority to execute, deliver and perform
his obligations under this Agreement and any related documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1.3 from the date of this Agreement and until all Liabilities have
been discharged, that the liabilities of the Borrower will continue to rank superior in point of priority and security with all other
liabilities of the Borrower (both actual and contingent), except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of a corporate Borrower, liabilities giving rise
to liens, retention of title or rights of set off in the normal course of trading;

Credit Facility Agreement <br> 12

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) liabilities
 which are preferred solely by statute law and not by reason of any Encumbrance; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) liabilities
 approved by the Bank in writing as being in priority to the Liabilities of the Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1.4 all approvals, authorizations, consents, licenses, permits,
and registrations which it is necessary or advisable to obtain from any governmental local public or other authority or without any limitation
any third party for the purpose of or relating to this Facility and/or any Security Document (in this Facility Agreement called "Consents")
have been obtained and are in force and all provisions and conditions thereof have been complied with;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1.5 he is not in breach of or in default under any agreement or
obligation relating to (or analogous to) financial indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1.6 all factual information supplied to the Bank in contemplation
of a Facility was true as at its date, and did not omit anything material to be known by any proposed Bank to it, no change has occurred
since the date of the information already supplied which renders it untrue or misleading, and all projections and statements of belief
and opinion given by it to the Bank were made in good faith after due and careful enquiry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1.7 any mortgages or charges over the property of the Borrower
or any Guarantor provided as security for the repayment of a Facility, will when executed, constitute a first priority charge by way
of legal mortgage or charge over the property; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1.8 this Facility Agreement and the Security Documents constitute
his legal valid and binding obligation in accordance with their respective terms (subject to applicable insolvency laws).

9.2 Each corporate Borrower or corporate Guarantor to a Facility, as applicable represents and warrants to the Bank on the date of acceptance of a Facility and on each date that the Facility is available or outstanding (with reference to the facts and circumstances then existing) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.1 it (a) is duly incorporated, (b) is validly existing and in
good standing under the laws of Belize, (c) has power to carry on its business as now carried on and (d) can borrow this Facility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.2 the applicable Facility Agreement and the Security Documents:
(a) have been duly authorised by all necessary corporate action, and executed as the case may be, and (b) do not and will not breach
its respective constitutional documents or any agreement or obligation by which it is bound or violate any applicable law; and

Credit Facility Agreement <br> 13

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2.3 it is subject to private commercial law and suit, and is not
entitled to sovereign immunity in Belize or in any other jurisdiction.

**10. Covenants**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 If the Borrower is a company, then the Borrower undertakes
and covenants as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.1 not to create or permit to subsist any encumbrance, mortgage,
pledge, lien, charge, assignment, hypothecation or security interest or any other agreement or arrangement having the effect of conferring
security on the assets of the Borrower which have been mortgaged or charged in favour of the Bank without the Bank's prior written
consent (save and except for those already in existence and disclosed to the Bank in writing prior to the execution of this Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.2 it will execute all
 Security Documents required by the Bank, including all instruments, agreements and documents (in the form and manner
 approved by the Bank) necessary or desirable to effect the terms and conditions and to accomplish the intent of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.3 save with the consent in
 writing of the Bank, and other than as provided for in this Agreement and the Security Documents, the Borrower will not
 sell, grant, lease or otherwise dispose of its assets or create or permit to subsist any encumbrance, mortgage, pledge, lien,
 charge, assignment, hypothecation or security interest in and over its assets (save and except those already in existence and
 disclosed to the Bank in writing prior to the execution of this Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.4 the Borrower will not change, alter or amend, nor procure the
change, alteration or amendment of, the Memorandum and Articles of Association, bylaws, rules or regulations of the Borrower without
first obtaining the approval in writing of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.5 the Borrower, will not make any substantial change or procure
any change to the general nature or scope of the business of the Borrower without the prior written consent of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.6 the Borrower will not enter into any amalgamation, merger or
reconstruction or de-merger without the prior written approval of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.7 the Borrower will fully comply with the terms and conditions
of this Agreement and all applicable terms and conditions in each of the relevant Security Documents;

Credit Facility Agreement <br> 14

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.8 the Borrower will not make any capital expenditure in excess
of Fifty Thousand Belize Dollars (BZ$50,000) without the prior written approval of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.9 the Borrower will not establish or operate any new bank account
or other banking arrangements without the prior written approval of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.10 the Borrower will not incur any further indebtedness for money
or monies worth other than for loan facilities previously disclosed to the Bank prior to this Agreement in writing, monies borrowed pursuant
to the terms herein or by the creation of the security to be created herein or by way of trade credit for goods purchased or services
rendered on usual commercial terms, without the prior written approval of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.11 the Borrower covenants that no loans or any other form of credit
over the cumulative sum of Fifty Thousand Belize Dollars (BZ$50,000.00) per annum will be made available to any person, without the prior
written approval of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.12 the Borrower will not declare or pay any dividends or make
any other distribution to shareholders of the Borrower at any time, without the prior written approval of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.13 that the Borrower will not change its accounting reference
date without the prior written approval of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.14 save with the prior written consent of the Bank not to: (i)
issue or allot or procure the issue or allotment of any of its shares or any debentures or any other form of security in its capital,
other than those shares, debentures or other securities already in issue and brought to the attention of the Bank prior to the date of
this Agreement; (ii) issue, allot or otherwise create or procure the issue, allotment or creation of any rights to subscribe for shares
in its share capital, or in any debentures or any other form of security or other rights in its share capital, (iii) create or procure
the creation of any new class or classes of shares in its share capital; and (iv) create or procure the formation of any new company
without the prior written consent of the Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.15 if a debenture has been granted to the Bank as security, the
Borrower will not assign or charge any tangible or intangible asset owned by the Borrower, to anyone other than the Bank without the
Bank's prior written permission; and

Credit Facility Agreement <br> 15

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.16 the Borrower shall on demand by the Bank furnish the Bank with
such additional collateral (whether in addition to or in substitution for any existing collateral or otherwise) to secure any Liabilities
in such form, of such value and on such terms as the Bank may from time to time require; and in furtherance of the foregoing, the Borrower
shall, at the Borrower's expense (i) execute and deliver to the Bank such agreements and other documents in respect of such collateral
and obtain such legal opinions in relation thereto (all in form and substance satisfactory to the Bank) as the Bank shall require and
(ii) take all steps reasonably required by the Bank to perfect the Bank's interest in respect of such collateral including registering
or procuring the registration of such agreements and documents with the appropriate authority(ies).

**11. Guarantees**

11.1 In consideration of the Bank entering into and acting in accordance with this Agreement, each Guarantor, where applicable, unconditionally and irrevocably guarantees as a continuing obligation the proper and punctual performance by the Borrower of all his obligations and liabilities (whether jointly or severally) under or pursuant to this Agreement.

11.2 The liability of any Guarantor to a Facility shall not be discharged or impaired by any act or omission or any other events or circumstances whatsoever which would or might (but for this clause) operate to impair or discharge their liability hereunder, including but without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.1 any release of, or granting of time (or any other indulgence)
to, any person; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.2 the existence, validity, taking or renewal of any other security,
or right or remedy taken by any person in relation to this Agreement or any Security Document or any enforcement of, neglect to perfect,
failure to enforce or release or waiver of any such security, right or remedy; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.3 any amendment or variation of this Agreement, any Security
Document or any security in relation thereto or any assignment of any such security; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.4 any legal limitation, disability, incapacity or other circumstance
relating to any person; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.5 any irregularity, unenforceability or invalidity of any obligation
of any person or pursuant to this Agreement or any Security Document so that the obligations of the Guarantor under this Agreement will
remain in full force and effect and this Clause 11 will be construed accordingly as if there were no such irregularity, unenforceability
or invalidity.

11.3 The provisions of this Clause 11 constitute a continuing guarantee (where applicable) and will remain in full force and effect until the obligations and liabilities of the Borrower to the Bank under or arising out of (or in connection with) this Agreement or any Security Document have been performed or discharged. The Guarantor hereby waives any right he may have of first requiring the Bank to proceed against or enforce any right against the Borrower (whether jointly or severally) or any other person.

Credit Facility Agreement <br> 16

**12. Events of Default**

12.1 All amounts due and payable under a Facility including but not limited to principal and interest, will become immediately due and payable, in full, upon the occurrence of an Event of Default, which shall include but not be limited to the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1.1 any default by the Borrower in the payment when due of the
principal or interest payable in respect of a Facility;

12.1.2 the breach of any other provision of the Agreement or the Security
Documents;

12.1.3 any information or representation given in connection with
this Facility proving to be untrue in any material respect;

12.1.4 the Borrower and/or any Guarantor becoming insolvent or bankrupt,
making an arrangement for the benefit of creditors, the appointment of a receiver or manager of Borrower or any Guarantor or any or their
respective assets, the Borrower or any Guarantor entering into liquidation, or the presentation of any petition, or the proposal of any
resolution or the taking of any steps of proceedings which may lead to any of the foregoing occurrences;

12.1.5 the Borrower and/or any Guarantor, if a company, ceases to
carry on the whole or a substantial part of its business or stop or suspend payment of their respective debts, or propose or enter into
any composition scheme compromise or arrangement with or for the benefit of their creditors generally or any class of them;

12.1.6 if the Borrower, and/or any Guarantor or any third party fails
to observe or perform any obligations under a Facility Agreement or any of the Security Documents or is in breach of any representation
or warranty made hereunder in any respect which the Bank reasonably considers to be material to the Agreement and such failure or breach
if remediable is not remedied within the period stipulated in any notice given by the Bank requiring the rectification of the failure
or breach;

12.1.7 if any of the Borrower's and/or any Guarantor's
financial obligations become prematurely payable or any creditor in respect thereof becomes entitled to declare any such obligation prematurely
payable, or any such obligation in not paid when due or any security therefore becomes enforceable and the same is actually demanded
or called or any enforcement steps are taken;

Credit Facility Agreement <br> 17

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1.8 if an encumbrancer takes possession of, or a distress execution
sequestration or process is levied or enforced upon the whole or any substantial/material part of the Borrower's or any Guarantor's
undertaking assets rights or revenues;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1.9 if the Borrower and/or any Guarantor admits that they are unable
to pay their respective debts as they fall due;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1.10 if any security (or any part of it) given under a Facility
Agreement or in respect of a Facility is not or ceases to be for any reason a valid enforceable effective and continuing security, or
the Bank receives legal advice to that effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1.11 if any circumstances arise which in the Bank's opinion
have or may have a material adverse effect on either the Borrower or any Guarantor's ability to perform its respective obligations
under a Facility Agreement or on the value, validity or enforceability of the Bank's security or any Security Documents.

12.2 The Bank reserves the right to demand repayment of any Facility where there is evidence of a Material Adverse Condition.

**13. Rights on Default**

13.1 The Bank may (without prejudice to any of its rights) upon and at any time after the happening of an Event of Default, so long as the same is continuing, by notice to Borrower declare that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1.1 the Commitment of the Bank shall be reduced to zero and all
obligations of the Bank hereunder shall be terminated forthwith; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1.2 all amounts drawn and outstanding under a Facility and all
interest and other sums payable in respect of such Facility have become immediately due and payable whereupon Borrower shall forthwith
repay the same; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1.3 all amounts drawn and outstanding under a Facility and interest
and other sums payable in respect of such Facility shall at all times after such declaration be due and payable forthwith on demand.

**14. Indemnity**

14.1 Without prejudice to any provision in any other agreement made between the Bank and the Borrower or any other person, the Borrower shall indemnify and keep the Bank, its officers, employees and agents indemnified against any and all loss, damage (including loss of profit), cost, fees, legal fees or expense which the Bank may suffer or incur as a consequence of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1.1 any default in payment by the Borrower and/or any Guarantor
as the case may be of any sum hereunder when due;

Credit Facility Agreement <br> 18

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1.2 any breach by the Borrower and/or any Guarantor of any provision
of a Facility Agreement or any Security Document;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1.3 the occurrence of any Event of Default;

as to which in each case, the certification of the Bank (save for manifest error) shall be conclusive.

**15. Additional Costs**

15.1 The Borrower will be liable for and will pay to the Bank on demand such amount which the Bank may from time to time certify to be necessary to compensate it for any increased costs or reduction in return, resulting from compliance with any change in, or in the interpretation of, any law or regulation or any official directive or request (whether or not having the force of law) including without limitation any relating to mandatory liquid asset and special deposit requirements.

15.2 The Borrower and any Guarantor to a Facility shall assume any currency exchange costs or losses incurred by the Bank as a result of movements or changes in exchange rates established under the laws of Belize which result or would result in a loss to the Bank under this Agreement.

**16. Illegality**

If at any time it is unlawful, or contrary to any request from or requirement of any central bank or other fiscal monetary or other authority, for the Bank to make, fund or allow to remain outstanding all or any part of a Facility, then the Bank will promptly after becoming aware of the same deliver to the Borrower a notice to that effect and (i) the Bank shall not thereafter be obliged to make any advance and (ii) if the Bank so requires, the Borrower shall on such date as specified by the Bank, repay the Facility together with accrued interest on it and any other amounts then due to the Bank hereunder.

**17. Assignment and Transfer**

17.1 The Borrower agrees that the Bank may assign or otherwise transfer all or any of its (i) rights and interests and/or (ii) obligations under the Agreement and any other agreement between the Bank and the Borrower. The Borrower further agrees that in order to effect such assignment or transfer all that is required is for the Bank to deliver relevant documents to the assignee(s) or transferee(s) and a written notice to the Borrower. The assignee(s) or transferee(s) shall thereupon become vested with all the rights and powers and subject to the same obligations in respect thereof which were formerly vested in the Bank and to which the Bank was subject, and the Bank shall be released and discharged from any liability or obligation in respect the relevant Facility Letter, these General Terms and Conditions and any other such agreement. It shall not be necessary for the Borrower to sign any consent or other agreement in relation to such assignment or transfer.

Credit Facility Agreement <br> 19

17.2 The Bank is authorised to disclose any information regarding the Borrower, any Guarantor, this Agreement and any other agreement with the Bank to (i) any transferee or proposed transferee of, or participant or proposed participant in, any of its rights and/or obligations in relation to the Borrower or (ii) if required by law or regulation, any relevant supervisory or regulatory authority or (iii) any other person with whom the Bank proposes to merge or to which the Bank proposes to dispose of all or any part of its business.

17.3 The Borrower can only assign this Agreement to a third party with the prior written agreement of the Bank to any such assignment.

**18. Consent to Release Information**

**18.1** The Borrower and every Guarantor hereby authorizes the Bank to report to an Authorised Third Party by any means of communication, including but not limited to electronic data transmission, all Data which may be requested or required by them. The Borrower and every Guarantor understands that such Authorised Third Parties if applicable, may further share the Data provided with third parties wherever located and whom they deem appropriate, and hereby releases the Bank from all liability in connection with the provision of Data to an Authorised Third Party and assumes responsibility for all consequences and any damages that may arise at any time due to use of the Data by any such third party.

18.2 With this Authorization, the Borrower and the Guarantor hereby expressly waive any protection or right under confidentiality and data protection laws of Belize to the extent necessary for the reporting of any Data hereunder to any Authorised Third Party. It is expressly understood that this Authorization will not expire in the event of the incapacity of the Borrower or any Guarantor to act, bankruptcy, declaration as a missing person, or his/her death, but will remain in force.

**19. Notices**

19.1 The Borrower will send all written communications to the Bank at the branch address where the Loan was processed for the attention of the manager of that branch. Any notice, demand or other communication from the Bank to the Borrower under this Agreement shall be given in writing by way of a letter addressed to the Borrower at the Borrower's address last appearing in the Bank's records. If the letter is sent by facsimile, it shall be deemed received on the date of transmission. If the letter is sent by ordinary mail at the address of the Borrower, it shall be deemed received on the date falling five (5) days following the date of the letter, unless the letter is hand-delivered to the Borrower, in which case, the letter shall be deemed to be received on the date of delivery. If the letter is sent by courier it shall be deemed received on the date of delivery confirmed by the courier company.

19.2 The Borrower and any Guarantor shall promptly notify the Bank of any change in its address or facsimile number to which notices or other communications should be sent.

Credit Facility Agreement <br> 20

19.3 Where permitted by law, the Borrower agrees that (i) the Bank may provide any information or disclosure relating to the Loan by electronic communication, including but not limited to, communication by telephone, computer or fax. If the communication is by computer, it will be in a form the Borrower can retain. The Borrower also agrees that if the Borrower uses electronic communication to amend, extend, renew or vary the terms of the Loan, the electronic communication shall be considered to have been signed and/or delivered by the Borrower and to be in "writing" if any legal rules require the communication to be in writing, signed or delivered. The Borrower agrees not to dispute any electronic communication on the basis that it was not in writing or signed. The Borrower also agrees that any electronic communication that either the Bank receives from the Borrower or which appears to have been sent by the Borrower will be considered to be duly authorized and binding on the Borrower. This means that the Bank is entitled to rely and act upon any such electronic communication, even if it was not given or sent by the Borrower.

19.4 The Borrower acknowledges that electronic communication may be an unsecured method of communication and the Bank will not be responsible for any unauthorized access to communications delivered through such unsecured methods, except where there has been negligence on our part. The Bank will not, under any circumstances (even if the Bank is negligent), be liable for an indirect, consequential, special, aggregated, punitive or exemplary damages whatsoever (including but not limited to loss of data, loss of profits or any other commercial or economic loss), caused to the Borrower, regardless of the cause of action, even if the Bank have been advised of the possibility of such damages.

19.5 The Borrower agrees that the Bank may also give notice in person or by telephone if circumstances warrant.

**20. Further Assurance**

The Borrower and every Guarantor under this Agreement shall promptly or otherwise within such period as the Bank may specify following demand by the Bank and at its own expense make, execute, do and perform all such further assurances, instruments, documents, acts or things as the Bank may from time to time reasonably require for performing the Borrower's obligations under this Agreement and any other agreement between the Bank and the Borrower or to enable the Bank to exercise any of its rights.

**21. Amendment**

Without prejudice to any provision in this Agreement or any other agreement between the Bank and the Borrower or any other person, the Bank may, in its absolute discretion, by notice to the Borrower, vary, amend or supplement any term or condition of the Facility Letter, these General Terms and Conditions and such other agreement. Such variation, amendment or supplement shall take effect upon the expiry of 30 days after such notice has been given (unless such change is not within the Bank's control).

Credit Facility Agreement <br> 21

**22. No Waivers, Remedies Cumulative, Binding**

22.1 No failure or delay on the part of the Bank in exercising any right, power or privilege under this Facility Agreement shall impair the same or operate as a waiver of the same nor shall any single or partial exercise of any right, power or privilege preclude any further exercise of the same or the exercise of any other right, power or privilege. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights and remedies provided by law.

22.2 This Agreement and each of the Security Documents shall be binding upon and enure for the benefit of the parties hereto and their respective successors and, in the case of the Bank, its permitted assigns.

**23. Severability**

If any one or more provisions of the Facility Letter, these General Terms and Conditions and any other agreement between the Bank and the Borrower shall be declared or adjudged to be illegal, invalid or unenforceable in any jurisdiction, such provision(s) shall be ineffective only to the extent of such illegality, invalidity and/or unenforceability and shall not affect the validity of any other provisions or the validity of such other provisions in any other jurisdiction.

**24. Conflict With Facility Letter**

If there is any conflict between the terms and conditions of Schedule A (General Terms and Conditions) and the Facility Letter, then the terms of Schedule A (General Terms and Conditions) will have an overriding effect over the relevant term of the Facility Letter.

**25. Entire Agreement**

This Agreement and any documents or instruments referred to in, or delivered pursuant to, this Agreement constitute the whole and entire agreement between the Borrower and the Bank with respect to the Facilities hereby granted.

**26. Governing Law**

This Agreement shall be governed by, construed and enforced in all respects in accordance with the laws of Belize.

Credit Facility Agreement <br> 22

***[Can be amended as required]***

 ****

**SCHEDULE B**

**Conditions Precedent**

For Corporate Borrowers and Guarantors:

1) A certified copy of the certificate of incorporation of the Borrower or other evidence of the Borrower's incorporation.

2) A copy, certified to be a true complete and up-to-date copy of the Borrower's memorandum and articles of association or of the instrument[s] evidencing the Borrower's constitution (e.g. charter, statutes, bye-laws).

3) A certificate of incumbency of the Borrower showing the current directors, officers and members of the Borrower or, alternatively, a copy of each of the registers of current members, officers and directors of the Borrower.

4) A certificate of good standing of the Borrower.

5) A copy of a resolution of the directors of the Borrower, certified by a director or the secretary of the Borrower to be in full force and effect at the date of receipt by the Bank, approving this Facility Agreement and the Security Documents and authorizing a person or persons to sign and deliver on behalf of the Borrower this Facility Agreement, the Security Documents and any other communications or documents to be delivered by the Borrower under this Facility Agreement and the Security Documents, and specimen signatures of all authorized signatories.

6) A certified copy of the certificate of incorporation of the Guarantor(s).

7) A certified to be true, complete and up-to-date copy of the Guarantor's memorandum and articles of association or of the instrument[s] evidencing the Guarantor(s)' constitution (e.g. charter, statutes, by-laws)

8) A certificate of incumbency of the Guarantor showing the directors and shareholders of the Guarantor or, alternatively, a copy of each of the registers of current members, officers and directors of the Guarantor.

9) A certificate of good standing of the Guarantor.

10) A copy of a resolution of the directors of the Guarantor, certified by a director or the secretary of the Guarantor to be in full force and effect at the date of receipt by the Bank, approving this Facility Agreement and the Security Documents and authorizing a person or persons to sign and deliver on behalf of the Guarantor this Facility Agreement, the Security Documents and any other communications or documents to be delivered by the Guarantor under this Facility Agreement and the Security Documents and specimen signatures of all authorized signatories.

For all Borrowers and Guarantors:

1) All KYC documents;

2) Statement of Affairs

3) The Security Documents shall be duly executed and delivered to the Bank.

4) Permission or approval of the Central Bank of Belize as may be required.

5) Such information and documents concerning the Borrower's and Guarantor's business and financial position and prospects as the Bank may request.

6) Payment in cleared funds of all fees expenses and other sums due in respect of this Facility Agreement, and listed above to the extent due and payable

**(Other items may be added)**

Credit Facility Agreement <br> 23

**SCHEDULE C**

**Security Documents**

**NEW Charge over Parcels 577 & 576, Block 7 San Pedro Registration Section in name of Awaysis Belize Limited stamp to secure BZD $4,103,000.00.**

**Lodgment with the bank by Yacht Club Resorts Development Company Limited over Strata Parcels 5513 H2. H3, H5, H7, H8, H9, H12, H13, H14 AND H15 Block 7 San Pedro Registration Section.**

**Lodgment with the bank by Yacht Club Resorts Development Company Limited over Strata Parcels 5513 H4. H6.**

**Corporate Guarantee signed by Yacht Club Resorts Development Company Limited in favor of Awaysis Belize Limited dated March le 2026.**

**Personal Guarantee signed by Andrew Trumbach and Michael Singh in favor of Awaysis Belize Limited dated March 16<sup>th</sup> 2026.**

**Insurance Over parcels 577 & 57, block 7, San Pedro Registration Section with BBL interest noted.**

Credit Facility Agreement <br> 24

**SCHEDULE D**

**FORM OF ACCEPTANCE**

March 16<sup>th</sup> 2026

*The Belize Bank Limited*

*60 Market Square*

*Belize City, Belize*

 

Dear Sirs,

We refer to your Facility Letter dated March 16<sup>th</sup> 2026 of which the enclosed is a duplicate copy, in which you offered to place at our disposal a term loan facility in the maximum aggregate principal amount of Four Million One Hundred Three Thousand Belize Dollars and zero cents (**$4,103,000.00)** on the terms and conditions contained therein, and we hereby accept such offer on such terms and conditions.

---

| | |
|:---|:---|
| Yours faithfully, |  |
| *(Borrower)* |  |
| *(Awaysis Belize Limited)* |  |
| */s/ Michael S. Singh* | |
| ***Director – Michael S. Singh*** |  |
|  | *[SEAL]* |
| */s/ Andrew Trumbach* | |
| ***Director – Andrew Trumbach*** |  |
| ***(Guarantor)*** |  |
| *Yacht Club Resorts Development Company Limited* |  |
| */s/ Michael S. Singh* | |
| ***Director – Michael Singh*** |  |
|  | *[SEAL]* |
| */s/ Maria Smith* | |
| ***Director – Maria Smith*** |  |
| ***(Guarantor)*** |  |
| */s/ Michael S. Singh* | |
| ***Director – Michael Singh*** |  |
| */s/ Andrew Trumbach* | |
| ***Director – Andrew Trumbach*** |  |

---

 ****

Credit Facility Agreement <br> 25

COMPANIES ACT<br> (Chapter 250)

("Awaysis Belize Limited")

<u>RESOLUTION OF THE BOARD OF THE DIRECTORS</u>

BE IT RESOLVED as follows:

THAT the Directors be and are hereby authorized to request a New EMI Loan for BZD$4,103,000.00 with The Belize Bank Limited (hereinafter called "the Bank") under the terms and conditions highlighted in the facility letter agreement dated the 16<sup>1k</sup> day of March 2026.

WE HEREBY CERTIFY that the above is a true copy of a resolution of Awaysis Belize Limited

DATED the 16<sup>th</sup> day of March 2026.

---

| | |
|:---|:---|
| */s/ Michael S. Singh* | |
| ***Director – Michael Singh*** |  |
|  | *(SEAL)* |
| */s/ Andrew Trumbach* | |
| ***Director – Andrew Trumbach*** |  |

---

 ****

COMPANIES ACT<br> (Chapter 250)

**("Yacht Club Resorts Development Company Limited")**

<u>RESOLUTION OF THE BOARD OF THE DIRECTORS</u>

BE IT RESOLVED as follows:

THAT the Directors be and hereby authorize the Company to act as a Guarantor for an EMI Loan of BZD$4,103,000.00 extended to Awaysis Belize Limited to be held at The Belize Bank Limited (hereinafter called "the Bank") under terms and conditions highlighted in the facility letter agreement dated this 16<sup>th</sup> of March 2026.

WE HEREBY CERTIFY that the above is a true copy of a resolution of Yacht Club Resorts Development Company Limited.

DATED the 16<sup>th</sup> day of March 2026.

---

| | |
|:---|:---|
| */s/ Michael S. Singh* | |
| ***Director – Michael Singh*** |  |
|  | *[SEAL]* |
| */s/ Maria Smith* | |
| ***Director – Maria Smith*** |  |

---

 ****

March 16, 2026

ON DEMAND AFTER DATE FOR VALUE RECEIVED……………………<u>$4,103,000.00</u>

PROMISE TO PAY TO **<u>The Belize Bank Limited</u>** OR ORDER

AT THE BELIZE BANK LIMITED<u>, **Albert Street, Belize**</u>

THE SUM of **<u>Four Million One Hundred Three Thousand —— xx/100 Belize Dollars</u>**

WITH INTEREST ON $4,103,000,00 PAYABLE MONTHLY AT THE RATE OF ….8.0%…..PER CENTUM PER ANNUM OR SUCH OTHER VARIABLE INTEREST RATE OR RATES AS THE BELIZE BANK LIMITED MAY IN ITS ABSOLUTE DISCRETIOON CHARGE FROM TIME TO TIME AS WELL AFTER AS BEFORE MATURITY. IT SHALL BE LAWFUL FOR THE BANK AND EVERY PERSON FOR THE TIME BEING ENTITLED TO RECEIVE AND GIVE A DISCHARGE FOR THE PRINCIPAL MONEYS INTEREST AND OTHER MONEYS HEREBY SECURED TO DEMAND THE SAME AT ANY TIME WHETHER OR NOT I AM IN DEFAULT OR HAVE OMITTED OR FAILED TO COMPLY WITH ANY TERM OR PROVISION HEREIN OR OTHERWISE.

**In the event of your incurring costs, charges and expenses with respect to the enforcement or protection of any rights hereunder, I/We hereby further agree that such costs, charges or expenses may be claimed in a Statement of Claim in the event that an action is commenced in a Court of Law for the recovery of moneys due hereunder even though a demand has not been made for the payment of same.**

---

| |
|:---|
| Name Awaysis Belize Limited |
| Cr. Acct # [\*\*\*] |
| Casual Discount |
| Ren. $|

---

## Exhibit 31.1

**Exhibit 31.1**

**CERTIFICATION OF CHIEF EXECUTIVE OFFICER**

**AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Michael Singh, certify that:

1. I have reviewed this Form 10-Q of Awaysis Capital, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods present in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13-a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involved management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| May 15, 2026 | By: | */s/ Michael Singh* |
|  |  | Michael Singh |
|  |  | Co-Chief Executive Officer |
|  |  | (Co-Principal Executive Officer) |

---

## Exhibit 31.2

**Exhibit 31.2**

**CERTIFICATION OF CHIEF FINANCIAL OFFICER**

**AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Andrew Trumbach, certify that:

1. I have reviewed this Form 10-Q of Awaysis Capital, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods present in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13-a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involved management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| May 15, 2026 | By: | */s/ Andrew Trumbach* |
|  |  | Andrew Trumbach |
|  |  | Co-Chief Executive Officer and Chief Financial Officer |
|  |  | (Co-Principal Executive Officer, Principal Financial and Accounting |
|  |  | Officer) |

---

## Exhibit 32.1

**Exhibit 32.1**

**CERTIFICATION OF CHIEF EXECUTIVE OFFICER**

**PURSUANT TO 18 U.S.C. SECTION 1350**

**AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the accompanying Quarterly Report on Form 10-Q of Awaysis Capital, Inc. for the quarter ended March 31, 2026, I, Michael Singh, Chief Executive Officer of Awaysis Capital, Inc., hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge and belief, that:

1. Such Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in such Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026, fairly presents, in all material respects, the financial condition and results of operations of Awaysis Capital, Inc.

---

| | | |
|:---|:---|:---|
| May 15, 2026 | By: | */s/ Michael Singh* |
|  |  | Michael Singh |
|  |  | Co-Chief Executive Officer |
|  |  | (Co-Principal Executive Officer) |

---

## Exhibit 32.2

**Exhibit 32.2**

**CERTIFICATION OF CHIEF FINANCIAL OFFICER**

**PURSUANT TO 18 U.S.C. SECTION 1350**

**AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the accompanying Quarterly Report on Form 10-Q of Awaysis Capital, Inc. for the quarter ended March 31, 2026, I, Andrew Trumbach, Chief Financial Officer of Awaysis Capital, Inc., hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge and belief, that:

1. Such Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in such Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026, fairly presents, in all material respects, the financial condition and results of operations of Awaysis Capital, Inc.

---

| | | |
|:---|:---|:---|
| May 15, 2026 | By: | */s/ Andrew Trumbach* |
|  |  | Andrew Trumbach |
|  |  | Co-Chief Executive Officer and Chief Financial Officer |
|  |  | (Co-Principal Executive Officer, Principal Financial and Accounting |
|  |  | Officer) |

---