# EDGAR Filing Document

**Accession Number:** 0001657214
**File Stem:** 0001493152-26-019199
**Filing Date:** 2026-4
**Character Count:** 373801
**Document Hash:** a7362bce82848046ec6403ce4180d38c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-019199.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001493152-26-019199

**CONFORMED SUBMISSION TYPE**: 10-K

**PUBLIC DOCUMENT COUNT**: 73

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** International Land Alliance Inc.
- **CENTRAL INDEX KEY:** 0001657214
- **STANDARD INDUSTRIAL CLASSIFICATION:** LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 463752361
- **STATE OF INCORPORATION:** WY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56111
- **FILM NUMBER:** 26902298

**BUSINESS ADDRESS:**
- **STREET 1:** 350 10TH AVENUE
- **STREET 2:** SUITE 1000
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92101
- **BUSINESS PHONE:** (858) 692-2677

**MAIL ADDRESS:**
- **STREET 1:** 350 10TH AVENUE
- **STREET 2:** SUITE 1000
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92101

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

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-K**

☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended <u>December 31, 2025</u>

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from _____________ to ____________

Commission file number 000-56111

**INTERNATIONAL LAND ALLIANCE, INC.**

(Exact name of small business issuer as specified in its charter)

<u>Wyoming</u> <u>46-3752361</u> <br> (State or other jurisdiction of incorporation) (IRS Employer Identification No.)

**350 10<sup>th</sup> Avenue** **, Suite 1000, San Diego, CA 92101**

(Address of principal executive offices) (Zip Code)

**(877) 661-4811**

(Issuer's telephone number)

Securities registered under Section 12(b) of the Exchange Act: None

Securities registered under Section 12(g) of the Exchange Act: Common Stock, par value $0.001

Indicate by check mark if registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

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 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, non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large-accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company in Rule 12b-2 of the Exchange Act:

Large-accelerated filer ☐ Accelerated filer ☐ 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 has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant was approximately $15,294,797 based upon the price $9.45 at which the common stock was last sold as of June 30, 2025 the last business day of the registrant's most recently completed second fiscal year, multiplied by the approximate number of shares of common stock held by persons other than executive officers, directors and five percent stockholders of the registrant without conceding that any such person is an "affiliate" of the registrant for purposes of the federal securities laws.

As of April 27, 2026, there were 4,664,667 shares of Common Stock, $0.001 par value, outstanding.

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
|  |  | Page |
| [CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS](#In_001) | [CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS](#In_001) | 3 |
| [PART I](#In_002) |  |  |
| Item 1. | [Description of Business](#In_003) | 4 |
| Item 1A. | [Risk Factors](#In_004) | 8 |
| Item 1B. | [Unresolved Staff Comments](#In_005) | 18 |
| Item 1C. | [Cybersecurity](#In_006) | 19 |
| Item 2. | [Properties](#In_007) | 19 |
| Item 3. | [Legal Proceedings](#In_008) | 19 |
| Item 4. | [Mine Safety Disclosures](#In_009) | 19 |
| [PART II](#In_010) |  |  |
| Item 5. | [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#In_011) | 20 |
| Item 6. | [\[RESERVED\]](#In_012) | 22 |
| Item 7. | [Management's Discussion and Analysis Of Financial Condition and Results of Operation](#In_013) | 22 |
| Item 7A. | [Quantitative and Qualitative Disclosures about Market Risk](#In_014) | 27 |
| Item 8. | [Financial Statements and Supplementary Data](#In_015) | 27 |
| Item 9. | [Changes In and Disagreements With Accountants on Accounting and Financial Disclosure](#In_016) | 28 |
| Item 9A. | [Controls and Procedures](#In_017) | 28 |
| Item 9B. | [Other Information](#In_018) | 29 |
| Item 9C. | [Disclosure Regarding Foreign Jurisdiction that Prevent Inspections.](#Va_001) | 29 |
| [PART III](#In_019) |  |  |
| Item 10. | [Directors, Executive Officers and Corporate Governance](#In_020) | 30 |
| Item 11. | [Executive Compensation](#In_021) | 35 |
| Item 12. | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#In_022) | 38 |
| Item 13. | [Certain Relationships and Related Transactions, and Director independence](#In_023) | 39 |
| Item 14. | [Principal Accountant Fees and Services](#In_024) | 39 |
| [PART IV](#In_025) |  |  |
| Item 15. | [Exhibits; Financial Statement Schedules](#In_026) | 40 |
| Item 16. | [Form 10-K Summary](#Va_002) | 40 |
| [SIGNATURES](#In_027) | [SIGNATURES](#In_027) | 41 |

---

**CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS**

The information contained in this Report includes some statements that are not purely historical and that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, perceived opportunities in the market and statements regarding our mission and vision. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. You can generally identify forward-looking statements as statements containing the words "anticipates," "believes," "continue," "could," "estimates," "expects," "intends," "may," "might," "plans," "possible," "potential," "predicts," "projects," "seeks," "should," "will," "would" and similar expressions, or the negatives of such terms, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements involve risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. The forward-looking statements contained herein are based on various assumptions, many of which are based, in turn, upon further assumptions. Our expectations, beliefs and forward-looking statements are expressed in good faith on the basis of management's views and assumptions as of the time the statements are made, but there can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished.

In addition to other factors and matters discussed elsewhere herein, the following are important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements: technological advances, impact of competition, dependence on key personnel and the need to attract new management, effectiveness of cost and marketing efforts, acceptances of products, ability to expand markets and the availability of capital or other funding on terms satisfactory to us, the continuing impact of Covid-19 and geopolitical environment of the market in which the Company operates. We disclaim any obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

**PART I**

**Item 1. Description of Business.**

International Land Alliance, Inc. (the "Company", "ILAL", or "we") was incorporated under the laws of the State of Wyoming on September 26, 2013 (inception).

The Company is a residential land development company with target properties located in the Baja California, Northern region of Mexico and Southern California. The Company's principal activities are purchasing properties, obtaining zoning and other entitlements required to subdivide the properties into residential and commercial building lots, securing financing for the purchase of the lots, improving the properties infrastructure and amenities, and selling the plots to homebuyers, retirees, investors, and commercial developers.

On June 30, 2011, International Land Alliance, SA De CV ("ILA Mexico") was formed as a Mexican corporation to acquire from Baja Residents Club, S.A., a related-party Mexican corporation, 497 acres south of San Felipe, Baja California, known as the Oasis Park project and also 20 acres in Ensenada, Baja California, known as the Valle Divino project. On October 1, 2013, Roberto Jesus Valdez, Jason A. Sunstein and Elizabeth Roemer transferred their interest in Oasis Park and Valle Divino real estate projects to ILA Mexico in exchange for 7,500 shares of ILA Mexico. On October 1, 2013, we issued 75,000 shares of our common stock to each Roberto Jesus Valdez, and Jason Sunstein and 20,000 shares of our common stock to Elizabeth Roemer in exchange for all of the outstanding shares of ILA Mexico. As a result of this transaction, ILA Mexico became our wholly owned subsidiary.

On October 1, 2013, the Company entered into a promissory agreement with Grupo Jataya, S.A. DE C.V. ("Grupo"), a Mexican corporation controlled by our chairman of the board, Roberto Valdes, to convey into an irrevocable trust, with ILAL named as beneficiary, to acquire 10 acres of land in Ensenada, Baja California, known as the Valle Divino, free of lien and encumbrances.

On March 5, 2019, the Company received its trading symbol "ILAL" from FINRA. On April 4, 2019, the Company was approved to have its common stock traded on the OTCQB. On April 12, 2019, the Company became eligible for electronic clearing and settlement through the Depositary Trust Company ("DTC") in the United States.

On March 18, 2019, the Company acquired real property located in Hemet, California, which included approximately 80 acres of land and two structures for $1.1 million. The property includes the main parcel of land with existing structures along with three additional parcels of land which are vacant lots to be used for the purpose of land development. The Company was generating lease income from this property up until October 1, 2021, at which point, the Company recognized revenue from the sale of 20 acres of land pursuant to Accounting Standard Codification ("ASC") 606.

In October 2019, the Company entered into an agreement with Valdeland, S.A. de C.V.("Valdeland"), a Mexican corporation controlled by our chairman of the board, Roberto Valdes, to acquire 1 acre of land at the Bajamar Ocean Front Golf Resort in Ensenada, Baja California, known as the Plaza Bajamar. The transfer of title for this project is subject to approval from the Mexican government in Baja California. Although management believes that the transfer of title to the land will be approved and transferred by the end of our second fiscal quarter of 2026, there is no assurance that such transfer of title will be approved in that time frame or at all.

In July 2020, the Company filed the Articles of Organization with the California Secretary of State for Emerald Grove Estates, LLC ("Emerald Estates"). Emerald Estates is a wholly owned subsidiary of the Company. The purpose of Emerald Estates is agriculture and land development. On January 27, 2021, Jason Sunstein and ILAL granted the deed of the property in Sycamore Road, Hemet, California to Emerald Estates.

On May 3, 2021, the Company acquired a 25% interest in Rancho Costa Verde Development, LLC ("RCVD"). RCVD is a successful developer of a 1,100-acre, 1,200-lot master planned community in Baja California, located roughly eight (8) km north of ILA's Oasis Park Resort. Such investment was accounted for under the equity method of investment under ASC 323 *Investments - Equity method and Joint Ventures*. On January 3, 2023, the Company acquired the remaining 75% for a total contractual consideration of $13.5 million.

On December 16, 2025, the Company closed on the acquisition of 300 acres of land and structures located adjacent to the Company's Rancho Costa Verde development for a total consideration of $1.65 million. This purchase is subdivided into 7 parcels and consists of approximately 300 residential homesites, 12 existing tiny homes, and 2 completed homes.

On June 19, 2025, we filed with the Wyoming Secretary of State a Certificate of Amendment to our Articles of Incorporation to increase the number of authorized shares of our common stock from 150,000,000 to 250,000,000.

On January 30, 2026, we filed with the Wyoming Secretary of State an Articles of Amendment to our Articles of Incorporation to effect the reverse stock split of all outstanding shares of our common stock at a ratio of 1-for-50. All share and per share numbers in this report have been adjusted to give effect to our reverse split at a ratio of 1-for-50 effected on February 4, 2026.

**<u>Industry Overview</u>**

Mexico's real estate industry has experienced a wave of growth brought about by foreign investment with the creation of investment trusts in 1993 ("fideicomiso") and significant changes in regulations, primarily NAFTA in 1994, along with competitive land prices and the significant expansion of new business centers and factories ("Maquiladoras") across the country over the last 10 years.

Most recently, this continued growth was fueled by Mexico´s enormously strong domestic market, particularly the rising middle class. In 2018, the country's middle class was estimated to account for almost half of the total households, at about 16 million. They are expected to continue growing, with about 3.8 million more households projected to move into the middle class by 2030. Moreover, most Mexicans who move generally prefer to buy rather than to rent. Around 82% of Mexicans want to buy a property, as opposed to 18% that prefer to rent, according to Lamudi's recent Real Estate Market Report 2018.

In addition to a strong domestic market, demand has also been fueled by international buyers from California seeking affordable retirement alternatives. Redfin data show the median price of a California home, or the price at the midpoint of all sales, was $828,000 in October 2025, remaining essentially flat, with an insignificant decrease from $837,000 in October 2024.

**<u>Market Opportunity</u>**

For years, U.S. and Canadian retirees have flocked to Mexico as an alternative overseas retirement destination that was affordable, offered desirable weather and was close to their communities of origin in North America. These attributes have made Mexico the top overseas retirement destination for older Americans, resulting in a building boom that reached its peak during 2005 - 2006 and stretched from Playas de Tijuana-Rosarito and Los Cabos along the Baja California peninsula and from Puerto Peñasco, Sonora to Mazatlán, Sinaloa. In southern Mexico, the real estate focus has been on expanding the Cancún corridor to the Riviera Maya.

Mexico remains a viable retirement option for Americans aged 50 years and over, offering a reduced cost of living, lower health care expenses, and proximity to friends and family in the United States. In addition, over half of survey respondents observed that their motivation to purchase a home in Mexico was based on their desire to have a home on or near the coast that would otherwise be unattainable in the United States.

In addition to U.S. and Canadian citizens, Baja California has seen a noticeable increase in business from Japan and Europe. With the interest in Baja expected to continue along with Mexico's overall economic growth, we will be well positioned to offer prospective homebuyers and investors a luxurious residence with breathtaking views for an affordable price.

**<u>Target Market</u>**

The Company's projects will be marketed toward residents of the United States and Canada. Specifically, we will target the influx of Maquiladoras (manufacturing facilities run by a foreign company) moving to Mexico as well as the residents of California, Texas, Arizona and Washington for the purpose of appealing to their need for a second home or retirement property within driving distance from Southern California. The targeted market includes residents making over $50,000 or a combined household income of $150,000.

Our target home buyers are typically professionals who own an existing property. Many are married without children or married with several children. The target audience enjoys a vacation away from home and often seeks information regarding villas or condominiums as a second home or vacation destination. We plan to provide them with an affordable location for a vacation home in a community that surpasses all their expectations.

**<u>Growth Strategy</u>**

We believe that growth of homebuilders in Mexico has created opportunities for smaller companies with long-term experience and relationships in their local markets. We believe that we can utilize our many strengths to benefit our target market. These strengths include:

**●** better
 knowledge of local demand;

**●** superior
 understanding of the entitlement and acquisition process;

**●** affordable
 high-quality homes and aggressive marketing;

**●** long
 term relationships with local regulatory authorities, landowners, designers, and contractors; and

**●** faster
 and less cumbersome financing processes.

It is our plan to utilize these advantages to move more quickly and address the needs of those in our target market, especially retirees looking to purchase a home in Mexico.

**<u>Competition</u>**

The Mexican public real estate market is fragmented and highly competitive. We compete with numerous developers, builders, and others for the acquisition of property and with local, regional, and national developers, homebuilders, and others with respect to the sale of residential properties. We also compete with builders and developers to obtain financing on commercially reasonable terms.

The Company is also subject to competition from other entities engaged in the business of resort development, sales and operation, including vacation interval ownership, condominiums, hotels and motels. Some of the world's most recognized lodging, hospitality and entertainment companies have begun to develop and sell resort properties in the Baja California area. Many of these entities possess significantly greater financial, marketing and other resources than those of the Company. Management believes that recent regulatory developments in the electricity industry and overall growth in the Mexican economy will increase competition in the real estate investment industry.

**<u>Intellectual Property</u>**

We currently have no patents, copyrights, trademarks and/or service marks, nor do we have any plans to file applications for such rights.

**<u>Marketing Research</u>**

The Company is in the process of acquiring properties, as well as developing its marketing and sales strategy. The Company also developed an interactive website and help center to answer questions from potential home buyers.

**<u>Government Regulation</u>**

The housing and land development industries are subject to increasing environmental, building, zoning, and real estate sales regulations by various authorities. Such regulations affect home building by specifying, among other things, the type and quality of building materials that must be used, certain aspects of land use and building design. Some regulations affect development activities by directly affecting the viability and timing of projects.

We must obtain the approval of numerous governmental authorities that regulate such matters as land use and level of density, the installation of utility services, such as water and waste disposal, and the dedication of acreage for open space, parks, schools, and other community purposes. If these authorities determine that existing utility services will not adequately support proposed development, building moratoria may be imposed. As a result, we use substantial resources to evaluate the impact of government restrictions imposed upon new residential development. Furthermore, as local circumstances or applicable laws change, we may be required to obtain additional approvals or modifications of approvals previously obtained or we may be forced to stop work. These increasing regulations may result in a significant increase in resources between our initial acquisition of land and the commencement and the completion of developments. In addition, the extent to which we participate in land development activities subjects us to greater exposure to regulatory risks.

Additionally, the Mexican real estate industry is subject to substantially different regulation than the U.S. real estate industry. The Mexican constitution of 1917 prohibited foreign ownership of residential real property within approximately 31 miles (approximately 50 km) of any coastline and 62 miles (approximately 100 km) of its natural borders. All of Baja California is included in this "restricted zone." In 1971 (further expanded in 1989 and 1993) provisions were made for a mechanism that would allow foreigners to own property in the "restricted zone." Within the "restricted zone," a foreigner can purchase the beneficial interest in real property through a bank trust or "fideicomiso." Thus, virtually all property in Mexico is available for purchase by foreigners, keeping in mind that the fideicomiso, or bank trust, must be used when acquiring property within the restricted zone.

In this bank trust, the buyer of the property is designated as the "fideicomisario" or the beneficiary of the trust. While legal title is held by the bank, (specifically the trustee of the trust or the "fiduciario,") the trustee must administer the property in accordance with the instructions of the buyer (the beneficiary of the trust). The property is not an asset of the bank and the trustee is obligated to follow every lawful instruction given by the beneficiary to perform legal actions, i.e. rent it, make improvements, sell it, etc.

As long as the foreign buyer of the property adheres to laws and ordinances of Mexico and agrees not to invoke the protection of the government of his country, he may exercise the same rights as a Mexican national with regard to the use of his property.

**<u>Properties</u>**

Our corporate headquarters are located in month-to-month leased office facilities at 350 10th Ave., Suite 1000, San Diego, CA 92101.

**<u>Employees</u>**

As of the date of this report, we have six employees, all of whom are full-time employees of the Company.

We have and will continue to use independent contractors to assist us in accounting, marketing and selling our products.

**Item 1A. Risk Factors.**

An investment in our securities is highly speculative and subject to numerous and substantial risks. Readers are encouraged to review these risks carefully before making any investment decision.

In addition to the other information provided in this filing, you should carefully consider the following risk factors in evaluating our business before purchasing any of our common stock. All material risks are discussed in this section.

**RISKS RELATED TO OUR BUSINESS AND OPERATIONS**

***There is substantial doubt about our ability to continue as a going concern. If we do not continue as a going concern, investors will lose their entire investment.***

Our consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Our auditor's report reflects that the ability of the Company to continue as a going concern is dependent upon our ability to repay or refinance our obligations, to raise additional capital and, ultimately, the achievement of significant operating revenues. If we are unable to continue as a going concern, stockholders will lose their investment. We will be required to seek additional capital to fund future growth and expansion. No assurance can be given that such financing will be available or, if available, that it will be on commercially favorable terms. Moreover, favorable financing may be dilutive to investors.

The Company has an accumulated deficit of $38.4 million as of December 31, 2025 and a net loss of $14.3 million for the year ended December 31, 2025. This deficit and loss may impact the future of the Company in many ways including, but not limited to, making it more difficult to borrow money, sell stock or to maintain a good trading price for our common stock.

***Our Certificate of Incorporation and Bylaws limit the liability of, and provide indemnification for, our officers and directors.***

Our Certificate of Incorporation generally limits our officers' and directors' personal liability to the Company and its stockholders for breach of fiduciary duty as an officer or director except for breach of the duty of loyalty or acts or omissions not made in good faith, or which involve intentional misconduct or a knowing violation of law. Our Certificate of Incorporation and Bylaws, provide indemnification for our officers and directors to the fullest extent authorized by the Wyoming Business Corporation Act against all expense, liability, and loss, including attorney's fees, judgments, fines excise taxes or penalties and amounts to be paid in settlement reasonably incurred or suffered by an officer or director in connection with any action, suit or proceeding, whether civil or criminal, administrative or investigative (hereinafter a "<u>Proceeding</u>") to which the officer or director is made a party or is threatened to be made a party, or in which the officer or director is involved by reason of the fact that he is or was an officer or director of the Company, or is or was serving at the request of the Company whether the basis of the Proceeding is an alleged action in an official capacity as an officer or director, or in any other capacity while serving as an officer or director. Thus, the Company may be prevented from recovering damages for certain alleged errors or omissions by the officers and directors for liabilities incurred in connection with their good faith acts for the Company. Such an indemnification payment might deplete the Company's assets. Stockholders who have questions regarding the fiduciary obligations of the officers and directors of the Company should consult with independent legal counsel. It is the position of the Securities and Exchange Commission that exculpation from and indemnification for liabilities arising under the Securities Act and the rules and regulations there under, is against public policy and therefore unenforceable.

***We will need additional capital, which we may be unable to obtain.***

Our capital requirements in connection with our development activities of our residential property's operations have been and will continue to be significant. We may require additional funding for more than one year in order to continue development. construction of houses, infrastructure and marketing activities associated with our properties. There can be no assurances that additional funding in the future or our current cash position will be sufficient to fund any future plans to accelerate our commercialization efforts or that financing will be available in amounts or on terms acceptable to us, if at all.

We are dependent on the sale of our securities or debt to fund our operations and will remain so until we generate sufficient revenues to pay for our operating costs. Our officers and directors have made no written commitments with respect to providing a source of liquidity in the form of cash advances, loans and/or financial guarantees. There can be no guarantee that we will be able to successfully sell our equity or debt securities.

***We have a potential conflict of interest with a company controlled by one of our officers and directors.***

We have and will continue to enter into agreements with firms owned or controlled by our officers and directors. A conflict of interest will arise should a dispute occur with the respect of our rights and obligations pursuant to the agreements and those firms. Under Wyoming law, a conflict-of-interest transaction is not voidable if the transaction was fair at the time it was entered into or is approved in advance by the vote of the board of directors not having an interest in the transaction if the material facts of the transaction and the director's interest are disclosed or known to the board prior to the vote. Each officer and director owe a fiduciary duty to the Company to present business opportunities to the Company. We do not believe, however, that the fiduciary duties or contractual obligations of our officers or directors to other entities will materially affect our ability to identify and pursue business opportunities or to complete our initial business objectives.

***Our relatively short period of operations history in the industry makes evaluating our business difficult.***

We have a short period of time in terms of operational history in our industry. Accordingly, our operations are subject to the risks inherent in the establishment of a new business enterprise, including access to capital, successful implementation of our business plan and limited revenue from operations. We cannot assure you that our intended activities or plan of operation will be successful or result in revenue or profit to us and any failure to implement our business plan may have a material adverse effect on the business of the Company.

To be profitable, we must:

● develop
 and identify new prospective purchasers of our real estate

● compete
 with larger, more established competitors in the real estate development industry;

● maintain
 and enhance our brand recognition; and

● adapt
 to meet changes in our markets and competitive developments.

We may not be successful in accomplishing these objectives. Further, our lack of operating history makes it difficult to evaluate our business and prospects. Our prospects must be considered in light of the risks, uncertainties, expenses and difficulties frequently encountered by companies in their early stages of development, particularly companies in highly competitive industries. The historical information in this report may not be indicative of our future financial condition and future performance. For example, we expect that our future annual growth rate in revenues will be moderate and likely be less than the growth rates experienced in the early part of our history.

***There is no guarantee that the Company will be able to complete development of its proposed properties and profitably sell any units.***

The Company has acquired properties and thereafter, the Company intends to construct and develop proposed resort properties as well as other residential and commercial property. There can be no assurance that the Company will complete the expected development plans or undertake to develop other resorts or complete such development if undertaken. Risks associated with the Company's development and construction activities may include the risks that: (i) acquisition and/or development opportunities may be abandoned; (ii) construction costs of a property may exceed original estimates, possibly making the resort uneconomical or unprofitable; and (iii) construction may not be completed on schedule, resulting in decreased revenues and increased carrying cost such as taxes and interest expense. In addition, the Company's construction activities will typically be performed by third-party contractors, the timing, quality and completion of which the Company will be unable to control.

***Investors will have no discretion in management's real estate investment decisions.***

Our management will have complete discretion in making investments on our behalf in a range of real estate, which may include all types of properties. Consequently, prospective investors will not be able to evaluate for themselves the merits of the specific properties that may be acquired in the future and may not like the properties acquired. You will not be entitled to a return of your investment if you do not approve the properties purchased. Our investment decisions are not made through reliance on sophisticated mathematical models or arbitrage programs. Instead, investors are relying on the judgment of our management alone to locate suitable properties that meet our investment criteria.

***Our proposed ownership of real estate may result in losses if demand for property declines.***

From our current real estate projects and any future real estate project acquired, we will be subject to risks incident to the ownership of real estate, including: changes in general economic or local conditions, such as a decrease in demand for residential, commercial and industrial space due to a decrease in population or employment or changes in technology or adverse downturns in the general economy; changes to preferences that reduce the attractiveness of our properties to end users; fluctuation in mortgage rates, building ownership or operating expenses; rises and falls in undeveloped land values; costs of infrastructure, construction or other development costs; changes in supply or demand of competing properties in an area; changes in interest rates, zoning and other governmental regulations and availability of permanent mortgage funds that may render the sale of a property difficult or unattractive; increases in the cost of adequate maintenance, insurance and other operating costs, including real estate taxes, associated with one or more properties, which may occur even when a property is not generating revenue; inflation; and changes in tax laws and rates. A negative change in any of these risks could reduce the demand for any properties we may acquire and a reduction in demand could result in a loss to us in the operation of or upon the sale of any such properties we may acquire.

***Property improvement costs are difficult to estimate and if costs exceed our budget, we may lose money on the development and sale of a property.***

Acquisition of any properties for improvement, repositioning and sale entails risks such as those contemplated by us that include the following, any of which could adversely affect our financial performance and the value of your investment: Our estimate of the costs of improving or repositioning an acquired property may prove to be too low, and, as a result, the property may fail to meet our estimates of the profitability of the property, either temporarily or for a longer time. Our pre-acquisition evaluation of each new investment may not detect certain requirements, limitations, defects or necessary improvements until after the property is acquired, which could significantly increase our total costs.

***Our operating results may suffer because of potential development and construction delays and resultant increased costs and risks which could reduce our revenues or lead to the loss of your investment.***

We may develop properties, including unimproved real properties, upon which we will construct improvements. We may be subject to uncertainties associated with re-zoning for development, environmental concerns of governmental entities and/or community groups, and our builders' ability to build in conformity with plans, specifications, budgeted costs and timetables. A builder's performance may also be affected or delayed by conditions beyond the builder's control. Delays in completing construction could also give tenants the right to terminate preconstruction leases. We may incur additional risks when we make periodic progress payments or other advances to builders before they complete construction. These and other factors can result in increased costs of a project or loss of our investment.

 ****

***Our real estate development strategies may not be successful which could reduce our revenues or lead to the loss of your investment.***

We may in the future engage in development activities to the extent attractive development projects become available. To the extent that we engage in development activities, we will be subject to risks associated with those activities that could adversely affect our financial condition, results of operations, cash flows and ability to pay distributions on, and the market price of, our common stock, including, but not limited to:

● development
 projects in which we have invested may be abandoned and the related investment will be impaired;

● we
 may not be able to obtain, or may experience delays in obtaining, all necessary zoning, land-use, building, occupancy and other governmental
 permits and authorizations;

● we
 may not be able to obtain land on which to develop;

● we
 may not be able to obtain financing for development projects, or obtain financing on favorable terms;

● construction
 costs of a project may exceed the original estimates or construction may not be concluded on schedule, making the project less profitable
 than originally estimated or not profitable at all (including the possibility of contract default, the effects of local weather conditions,
 the possibility of local or national strikes and the possibility of shortages in materials, building supplies or energy and fuel
 for equipment);

● upon
 completion of construction, we may not be able to obtain, or obtain on advantageous terms, permanent financing for activities that
 we financed through construction loans; and

● we
 may not achieve sufficient occupancy levels and/or obtain sufficient rents to ensure the profitability of a completed project.

Moreover, substantial development activities, regardless of their ultimate success, typically require a significant amount of management's time and attention, diverting their attention from our other operations.

***The real estate market is cyclical, and a downturn of the market could increase the risk of loss of your investment.***

Investment in real estate involves a high degree of business and financial risk, which can result in substantial losses and accordingly should be considered speculative. The market for property in Mexico and the United States tends to be cyclical, with periods in which the prices of properties rise and fall. Prices have fallen in the past and have done so for a significant period of time. Any downturn in the real estate market in the U.S. or Mexico may have a negative effect on our operations and reduce any return generated upon the sale of our property.

***Many real estate costs are fixed and must be paid even if the property is not generating revenue which could increase your risk of loss of your investment.***

Our financial results depend primarily on being able to add value and then sell properties to others on favorable terms. Many costs associated with real estate investment, such as debt service, real estate taxes and maintenance costs, generally are not reduced even when a property is not fully improved or used. Thus, even a small increase in the time to which a real estate property can be sold can result in a significant increase in the carry costs of the property. New properties that we may acquire may not produce any significant revenue immediately, and the cash flow from existing operations may be insufficient to pay the operating expenses and debt service associated with that property until the property is sold.

***Because there is no liquid market for our properties, we may be unable to sell a property when it planned to, which could increase your risk of loss of your investment.***

Liquidity relates to our ability to sell a property in a timely manner at a price that reflects the fair value of that property. The illiquidity of properties may adversely affect our ability to dispose of such properties in a timely manner and at a fair price at times when we deem it necessary or advantageous. The timing and likelihood of liquidation events is uncertain and unpredictable and affected by general economic and property-specific conditions. There may not be a market, or the market may be very limited, for the real estate that we will try to sell, even though we will make appropriate efforts to cover the available market. Investments in real properties are generally not liquid. We may not be able to dispose of future properties within its anticipated time schedule and the sales of such properties may not be made at the prices projected by us.

***We are subject to zoning and environmental controls that may restrict the use of our property.***

Governmental zoning and land use regulations may exist or be promulgated that could have the effect of restricting or curtailing certain uses of our real estate. Such regulations could adversely affect the value of any of our properties affected by such regulations. In recent years real estate values have also sometimes been adversely affected by the presence of hazardous substances or toxic waste on, under or in the environs of the property. A substance (or the amount of a substance) may be considered safe at the time the property is purchased but later classified by law as hazardous. Owners of properties have been liable for substantial expenses to remedy chemical contamination of soil and groundwater at their properties even if the contamination predated their ownership. Although we intend to exercise reasonable efforts to assure that no properties are acquired that give rise to such liabilities, chemical contamination cannot always be detected through readily available means, and the possibility of such liability cannot be excluded.

Under various foreign, federal, state and local laws, ordinances and regulations, we may be required to investigate and clean up certain hazardous or toxic substances released on or in properties we own or operate, and also may be required to pay other costs relating to hazardous or toxic substances. This liability may be imposed without regard to whether we knew about the release of these types of substances or were responsible for their release. The presence of contamination or the failure to remediate property' contaminations at any of our properties may adversely affect our ability to sell or lease the properties or to borrow using the properties as collateral. The costs or liabilities could exceed the value of the affected real estate. We have not been notified by any governmental authority, however, of any non-compliance, liability or other claim in connection with any of our properties, and we are not aware of any other environmental condition with respect to any of our properties that management believes would have a material adverse effect on our business, assets or results of operations taken as a whole.

Although we will attempt to determine the environmental condition of each property as part of our due diligence, we cannot be certain that this investigation will reveal all conditions that may impose an obligation on us to mitigate the environmental condition. If we were subject to environmental liability, which could be imposed based on our ownership of its property; such liability could adversely affect the value of your investment.

***We may be subject to partially uninsured losses that may require substantial payments which could reduce the value of your investment.***

We currently carry a $2,000,000 general liability policy for the Company. On Emerald Grove we have a comprehensive homeowner's policy which also extends to the three (3) vacant parcels. Any ILA, vacant lot buyers or homebuyers will be encouraged to carry their own individual insurance policies. In addition, if losses occur, they may exceed insurance policy limits, and policies may contain exclusions with respect to various types of losses or other matters. Consequently, all or a portion of our properties may not be covered by disaster insurance and insurance may not cover all losses which could reduce the value of your investment.

***We cannot control certain factors affecting the performance and value of a property, which may cause the value of that property and your investment to decline.***

The economic performance and value of our real estate assets will be subject to the risks described below that are normally associated with changes in national, regional, and local political, economic and market conditions. These factors may adversely affect the ability of our customers to buy our real estate. Other local economic conditions that may affect the performance and value of the properties include the local economy of a given real estate project; competition for buyers, including competition based on attractiveness and location of the property; and the quality of amenities a project has to offer. In addition, other factors may affect the performance and value of a property adversely, including changes in laws and governmental regulations (including those governing usage, zoning and taxes), changes in interest rates (including the risk that increased interest rates may result in a decline in the liquidity of our properties), declines in housing or commercial property purchases and the availability of financing. Adverse changes in any of these factors, each of which is beyond our control, could reduce the cash flow that we receive from our properties, and adversely affect the value of your investment.

***If we choose to carry debt, inability to make secured debt payments could result in loss of mortgaged property and reduce the value of your investment.***

The Company carries secured and unsecured promissory notes. Debt financing carries many risks, including refinancing difficulties, loss of mortgaged properties, reduced ability to obtain new financing and increases in interest. We may choose to use debt financing in connection with future properties. If we cannot meet our secured debt obligations, the lender could take the collateral and we would lose both the secured property and the income, if any, it produces. Foreclosure on mortgaged properties or an inability to refinance existing indebtedness would likely have a negative impact on our financial condition and results of operations. We could have to pay substantial legal costs in connection with foreclosure of a property, and thus be subject to a deficiency judgment if the foreclosure sale amount is insufficient to satisfy the mortgage.

***Rising interest rates could adversely affect our interest expense and cash flow and reduce the value of your investment.***

We may borrow money at variable interest rates in the future to finance operations. Increases in interest rates would increase our interest expense on our variable rate debt, which would adversely affect cash flow and our ability to service our debt and make distributions to our stockholders.

***Our lack of an established brand name and relative lack of resources could negatively impact our ability to effectively compete in the real estate market, which could reduce the value of your investment.***

We do not have an established brand name or reputation in the real estate business. We also have a relative lack of resources to conduct our business operations. Thus, we may have difficulty effectively competing with companies that have greater name recognition and resources than we do. Presently, we have no patents, copyrights, trademarks and/or service marks that would protect our brand name or our proprietary information, nor do we have any current plans to file applications for such rights. Our inability to promote and/or protect our brand name may have an adverse effect on our ability to compete effectively in the real estate market.

***We may make changes to our business, investment, leverage and financing strategies without stockholder consent, which could reduce the value of your investment.***

Our discussions with various individuals concerning various properties or projects have included general discussions of acquiring properties directly either ourselves or in a joint venture with others or of developing properties either ourselves or in a joint venture with others. There is no limitation in the amount of funds we may invest in either property acquisition or property development. There is no limitation on or percentage allocation of funds or assets between property acquisition and property development, or between 100% ownership and joint venture ownership. Further, as the market evolves, we may change our business, investment and financing strategies without a vote of, or notice to, our stockholders, which could result in our making investments and engaging in business activities that are different from, and possibly riskier than, the investments and businesses described in this filing. In particular, a change in our investment strategy, including the manner in which we allocate our resources across our portfolio or the types of assets in which we seek to invest, may increase our exposure to interest rate risk, default risk and real estate market fluctuations. In addition, we may in the future use leverage at times and in amounts deemed prudent by our management in its discretion, and such decision would not be subject to stockholder approval. Changes to our strategies with regards to the foregoing could materially and adversely affect our financial condition, results of operations.

***We depend heavily on key personnel, and turnover of key senior management could harm our business.***

Our future business and results of operations depend in significant part upon the continued contributions of our Chief Executive Officer, Chief Financial Officer and Chairman of the Board. If we lose their services or if they fail to perform in their current position, or if we are not able to attract and retain skilled employees as needed, our business could suffer. Significant turnover in our senior management could significantly deplete our institutional knowledge held by our existing senior management team. We depend on the skills and abilities of these key officers in managing the product acquisition, marketing and sales aspects of our business, any part of which could be harmed by turnover in the future.

***Our future results and reputation may be affected by litigation or other liability claims.***

We have procured a $2,000,000 general liability insurance policy for our business. In addition, we procured a $1,000,000 executive and corporate securities liability policy. To the extent that we suffer a loss of a type which would exceed our limit, we could incur significant expenses in defending any action against us and in paying any claims that result from a settlement or judgment against us. Adverse publicity could result in a loss of consumer confidence in our business or our securities.

***We may be subject to regulatory inquiries, claims, suits prosecutions which may impact our profitability.***

Any failure or perceived failure by us to comply with applicable laws and regulations may subject us to regulatory inquiries, claims, suits and prosecutions. We can give no assurance that we will prevail in such regulatory inquiries, claims, suits, and prosecutions on commercially reasonable terms or at all. Responding to, defending and/or settling regulatory inquiries, claims, suits, and prosecutions may be time-consuming and divert management and financial resources or have other adverse effects on our business. A negative outcome in any of these proceedings may result in changes to or discontinuance of some of our services, potential liabilities or additional costs that could have a material adverse effect on our business, results of operations, financial condition, and future prospects.

***We are vulnerable to concentration risks because we intend to focus on the residential rather than commercial market.***

We intend to focus on residential rather than commercial properties. Economic shifts affect residential and commercial property markets, and thus our business, in different ways. A developer with diversified projects in both sectors may be better able to survive a downturn in the residential market if the commercial market remains strong. Our focus on the residential sector can make us more vulnerable than a diversified developer.

**RISKS RELATED TO OUR MEXICAN OPERATIONS**

***General economic conditions in Mexico may have an adverse effect on our operations and reduce our revenues.***

General economic conditions in Mexico, such as inflation, high energy prices, expensive telecommunication services, the scarcity of skilled labor, and the Mexican government's inability to regulate these input markets may diminish Mexico's comparative advantage and earning capacity in key industries such as real estate; additionally, weakening of the U.S. dollar versus the Mexican Peso and tax fluctuations in Mexico, may have an adverse impact on our business and financial results. The global economy in general and the economic conditions in Mexico remain uncertain. Weak economic conditions could result in lower demand for our properties, resulting in lower sales, earnings, and cash flows.

***The value of our securities may be affected by the foreign exchange rate between U.S. dollars and the currency of Mexico.***

The value of our common stock may be affected by the foreign exchange rate between U.S. dollars and the Mexican Peso, and between those currencies and other currencies in which our revenues, expenses, assets, and liabilities may be denominated. For example, to the extent that we need to convert the U.S. dollars into the Mexican Pesos for our operational needs, should the Mexican Peso appreciate against the U.S. dollar at that time, our financial position, our business, and the price of our common stock may be harmed. Conversely, if we decide to convert the Mexican Pesos into the U.S. dollars for the purpose of declaring dividends on our common stock or for other business purposes and the U.S. dollar appreciates against the Mexican Peso, the U.S. dollar equivalent of our earnings from our subsidiaries in Mexico would be reduced.

***We are subject to anti-corruption laws in the jurisdictions in which we operate, including the U.S. Foreign Corrupt Practices Act (the "FCPA"), as well as trade compliance and economic sanctions laws and regulations. Our failure to comply with these laws and regulations could subject us to civil and criminal penalties, harm our reputation and materially adversely affect our business, financial condition and results of operations.***

Doing business in Mexico requires us to comply with the laws and regulations of numerous jurisdictions. These laws and regulations place restrictions on our operations and business practices. In particular, we are subject to the FCPA, which generally prohibits companies and their intermediaries from providing anything of value to foreign officials for the purpose of obtaining or retaining business or securing any improper business advantage, along with various other anti-corruption laws. As a result of doing business in Mexico, we are exposed to a heightened risk of violating anti-corruption laws. Although we have implemented policies and procedures designed to ensure that we, our employees and other intermediaries comply with the FCPA and other anti-corruption laws to which we are subject, there is no assurance that such policies or procedures will work effectively all of the time or protect us against liability under the FCPA or other laws for actions taken by our employees and other intermediaries with respect to our business or any businesses that we may acquire. Any continued international expansion, and any development of new partnerships and joint venture relationships worldwide, increases the risk of FCPA violations in the future.

Violations of anti-corruption laws, export control laws and regulations, and economic sanctions laws and regulations are punishable by civil penalties, including fines, as well as criminal fines and imprisonment. If we fail to comply with the FCPA or other laws governing the conduct of international operations, we may be subject to criminal and civil penalties and other remedial measures, which could materially adversely affect our business, financial condition, results of operations and liquidity. Any investigation of any potential violations of the FCPA or other anti-corruption laws, export control laws and regulations, and economic sanctions laws and regulations by the United States or foreign authorities could also materially adversely affect our business, financial condition, results of operations and liquidity, regardless of the outcome of the investigation.

***Our operations may be affected by social instability in Mexico.***

Because we have Mexican operations, we are subject to social instability risks which could materially adversely affect our business and our results of operations. Specifically, our business is exposed to the risk of crime that is currently taking place in certain areas in Tijuana. Recent increases in kidnapping and violent drug related criminal activity in Mexico, and in particular Mexican States bordering the United States, may adversely affect our ability to carry on business safely.

**RISKS RELATED TO OUR COMMON STOCK**

***We will be subject to penny stock regulations and restrictions, and you may have difficulty selling shares of our common stock.***

The SEC has adopted regulations which generally define so-called "penny stocks" to be an equity security that has a market price less than $5.00 per share or an exercise price of less than $5.00 per share, subject to certain exemptions. We are a "penny stock", and we are subject to Rule 15g-9 under the Exchange Act, or the "Penny Stock Rule". This rule imposes additional sales practice requirements on broker-dealers that sell such securities to persons other than established customers. For transactions covered by Rule 15g-9, a broker-dealer must make a special suitability determination for the purchaser and have received the purchaser's written consent to the transaction prior to sale. As a result, this rule may affect the ability of broker-dealers to sell our securities and may affect the ability of purchasers to sell any of our securities in the secondary market.

For any transaction involving a penny stock, unless exempt, the rules require delivery, prior to any transaction in a penny stock, of a disclosure schedule prepared by the SEC relating to the penny stock market. Disclosure is also required to be made about sales commissions payable to both the broker-dealer and the registered representative and current quotations for the securities. Finally, monthly statements are required to be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stock.

We may qualify for an exemption from the Penny Stock Rule. In any event, even if our common stock were exempt from the Penny Stock Rule, we would remain subject to Section 15(b)(6) of the Exchange Act, which gives the SEC the authority to restrict any person from participating in a distribution of penny stock, if the SEC finds that such a restriction would be in the public interest.

***Because we do not have an audit or compensation committee, shareholders will have to rely on the entire board of directors, none of which are independent, to perform these functions.***

We do not have an audit or compensation committee comprised of independent directors. These functions are performed by the board of directors as a whole. No members of the board of directors are independent directors. Thus, there is a potential conflict in that board members who are also part of management will participate in discussions concerning management compensation and audit issues that may affect management decisions.

***We may, in the future, issue additional shares of common stock, which would reduce investors' percentage of ownership and may dilute our share value.***

Our Articles of Incorporation authorize the issuance of 250,000,000 shares of common stock. As of the date of this filing, we had 4,664,667 shares of common stock outstanding. Accordingly, we may issue approximately 245,335,333 additional shares of common stock subject to limitation on reserve amounts for other securities outstanding. The future issuance of common stock may result in substantial dilution in the percentage of our common stock held by our then existing shareholders. We may value any common stock issued in the future on an arbitrary basis. The issuance of common stock for future services or acquisitions or other corporate actions may have the effect of diluting the value of the shares held by our investors and might have an adverse effect on any trading market for our common stock.

***We are subject to compliance with securities law, which exposes us to potential liabilities, including potential rescission rights.***

We may offer to sell our common stock to investors pursuant to certain exemptions from the registration requirements of the Securities Act, as well as those of various state securities laws. The basis for relying on such exemptions is factual; that is, the applicability of such exemptions depends upon our conduct and that of those persons contacting prospective investors and making the offering. We may not seek any legal opinion to the effect that any such offering would be exempt from registration under any federal or state law. Instead, we may elect to relay upon the operative facts as the basis for such exemption, including information provided by investor themselves.

If any such offering did not qualify for such exemption, an investor would have the right to rescind its purchase of the securities if it so desired. It is possible that if an investor should seek rescission, such investor would succeed. A similar situation prevails under state law in those states where the securities may be offered without registration in reliance on the partial preemption from the registration or qualification provisions of such state statutes under the National Securities Markets Improvement Act of 1996. If investors were successful in seeking rescission, we would face severe financial demands that could adversely affect our business and operations. Additionally, if we did not in fact qualify for the exemptions upon which we relied, we may become subject to significant fines and penalties imposed by the SEC and state securities agencies.

***Because we do not intend to pay any cash dividends on our common stock, our stockholders will not be able to receive a return on their shares unless they sell them.***

We intend to retain any future earnings to finance the development and expansion of our business. We do not anticipate paying any cash dividends on our common stock in the foreseeable future. Unless we pay dividends, our stockholders will not be able to receive a return on their shares unless they sell them. There is no assurance that stockholders will be able to sell shares when desired.

***We expect to experience volatility in the price of our common stock, which could negatively affect stockholders' investments.***

The trading price of our common stock may be highly volatile and could be subject to wide fluctuations in response to various factors, some of which are beyond our control. The stock market in general has experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of companies with securities traded in those markets. Broad market and industry factors may seriously affect the market price of companies' stock, including ours, regardless of actual operating performance. All of these factors could adversely affect your ability to sell your shares of common stock or, if you are able to sell your shares, to sell your shares at a price that you determine to be fair or favorable.

***Financial Industry Regulatory Authority ("FINRA") sales practice requirements may also limit a stockholder's ability to buy and sell our common stock, which could depress the price of our common stock.***

FINRA has adopted rules that require a broker-dealer to have reasonable grounds for believing that the investment is suitable for that customer before recommending an investment to a customer. Prior to recommending speculative low-priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer's financial status, tax status, investment objectives, and other information. Under interpretations of these rules, FINRA believes that there is a high probability that speculative low-priced securities will not be suitable for at least some customers. Thus, the FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit your ability to buy and sell our shares of common stock, have an adverse effect on the market for our shares of common stock, and thereby depress our price per share of common stock.

***Anti-takeover effects of certain provisions of Wyoming state law may hinder a potential takeover of us.***

Wyoming has a business combination law that prohibits certain business combinations between Wyoming corporations and "interested stockholders" for two years after an "interested stockholder" first becomes an "interested stockholder," unless the corporation's board of directors approves the combination in advance. For purposes of Wyoming law, an "interested stockholder" is any person who is (i) the beneficial owner, directly or indirectly, of ten percent or more of the voting power of the outstanding voting shares of the corporation or (ii) an affiliate or associate of the corporation and at any time within the three previous years was the beneficial owner, directly or indirectly, of ten percent or more of the voting power of the then outstanding shares of the corporation. The definition of the term "business combination" is sufficiently broad to cover virtually any kind of transaction that would allow a potential acquirer to use the corporation's assets to finance the acquisition or otherwise to benefit its own interests rather than the interests of the corporation and its other stockholders.

The effect of Wyoming's business combination law is potentially to discourage parties interested in taking control of us from doing so if they cannot obtain the approval of our Board. Both of these provisions could limit the price investors would be willing to pay in the future for shares of our common stock.

Our stock is thinly traded, so you may be unable to sell your shares at or near the quoted bid prices if you need to sell a significant number of your shares.

The shares of our common stock are thinly traded on the OTCQB Marketplace, meaning that the number of persons interested in purchasing our common stock at or near bid prices at any given time may be relatively small or non-existent. As a consequence, there may be periods of several days or more when trading activity in our shares is minimal or non-existent, as compared to a seasoned issuer which has a large and steady volume of trading activity that will generally support continuous sales without an adverse effect on share price. We cannot give you any assurance that a broader or more active public trading market for our common stock will develop or be sustained, or that current trading levels will be sustained. Due to these conditions, we can give you no assurance that you will be able to sell your shares at or near bid prices or at all if you need money or otherwise desire to liquidate your shares.

***Shares eligible for future sale may adversely affect the market.***

From time to time, certain of our stockholders may be eligible to sell all or some of their shares of common stock by means of ordinary brokerage transactions in the open market pursuant to Rule 144 promulgated under the Securities Act, subject to certain limitations. In general, pursuant to amended Rule 144, non-affiliate stockholders may sell freely after six months subject only to the current public information requirement. Affiliates may sell after six months subject to Rule 144 volume, manner of sale (for equity securities), and current public information and notice requirements. Any substantial sales of our common stock pursuant to Rule 144 may have a material adverse effect on the market price of our common stock.

***We could issue additional common stock, which might dilute the book value of our common stock.***

Our Board of Directors has authority, without action or vote of our shareholders, to issue all or a part of our authorized but unissued shares. Such stock issuances could be made at a price that reflects a discount or a premium from the then-current trading price of our common stock. In addition, in order to raise capital, we may need to issue securities that are convertible into or exchangeable for a significant amount of our common stock. These issuances would dilute the percentage ownership interest, which would have the effect of reducing your influence on matters on which our shareholders vote and might dilute the book value of our common stock.

***Our common stock could be further diluted as a result of the issuance of convertible securities, warrants or options.***

In the past, we have issued convertible securities (such as convertible debentures and notes), warrants and options in order to raise money or as compensation for services and incentive compensation for our employees and directors. We have shares of common stock reserved for issuance upon the exercise of certain of these securities and may increase the shares reserved for these purposes in the future. Our issuance of these convertible securities, options and warrants could affect the rights of our stockholders, could reduce the market price of our common stock or could result in adjustments to exercise prices of outstanding warrants (resulting in these securities becoming exercisable for, as the case may be, a greater number of shares of our common stock), or could obligate us to issue additional shares of common stock to certain of our stockholders.

***Our articles of incorporation allow for our board of directors to create new series of preferred stock without further approval by our stockholders, which could adversely affect the rights of the holders of our common stock.***

Our board of directors has the authority to fix and determine the relative rights and preferences of preferred stock. Our board of directors has the authority to issue up to 2,010,000 shares of our preferred stock without further stockholder approval (including 200,000 shares that have been designated Series A, 1,000 shares that have been designated Series B, 15,000 shares that have been designated Series C, and 20,000 shares that have been designated Series D) (see "Description of Capital Stock"). As a result, our board of directors could authorize the issuance of a new series of preferred stock that would grant to holders of preferred stock the right to our assets upon liquidation, or the right to receive dividend payments before dividends are distributed to the holders of common stock. In addition, our board of directors could authorize the creation of a new series of preferred stock that has greater voting power than our common stock or that is convertible into our common stock, which could decrease the relative voting power of our common stock or result in dilution to our existing stockholders.

**Item 1B. Unresolved Staff Comments.**

None.

**Item 1C. Cybersecurity**

***Cybersecurity Risk Management and Strategy***

The Company is committed to ensuring the highest standards of cybersecurity to protect our systems, networks, and data from cyber threats. We recognize the critical importance of safeguarding sensitive information and maintaining the trust of our customers, partners, and stakeholders.

Our cybersecurity strategy is built on a foundation of proactive risk management, continuous monitoring, and adherence to industry best practices. We employ a multi-layered approach which leverages cutting-edge technologies to defend against evolving cyber threats.

We have made significant investments in modernizing, streamlining, and simplifying our technology footprint to both enhance customer experience and strengthen our internal security controls.

From time-to-time, we may engage third-party consultants, legal advisors, and audit firms to evaluate and test the Company's risk management systems and assess and remediate certain potential cybersecurity incidents, as appropriate. We prioritize the integrity of our data access controls to prevent unauthorized access, data breaches, and malicious activities. We regularly assess and enhance our cybersecurity posture through comprehensive risk assessments, security audits, and vulnerability assessments.

***Governance***

Cybersecurity is a shared responsibility requiring collaboration and cooperation across all levels of our organization.

The Company recognizes that cybersecurity is not solely a technology issue but also a people and process issue. We plan to invest in ongoing training and awareness programs to empower our team to recognize and respond to potential security threats effectively.

Cybersecurity threats are monitored and acted upon by the Company's outsourced information technology security group. The executives meet periodically or as needed with third-party advisors to receive information on all cybersecurity initiatives or suggestions as well as all cybersecurity incidents, if any.

In the event of a cybersecurity incident, we have third-party consultants that could assist with incident response plans and protocols to minimize the impact and facilitate swift recovery. During the calendar year 2025, there have been no known reported cybersecurity incidents that have materially affected our operations or financial results.

We believe in transparency and open communication, promptly informing affected parties and relevant authorities as required by law. Together, we remain vigilant, adaptive, and resilient in the face of evolving cyber threats, safeguarding the trust and confidence of those we serve.

**Item 2. Properties.**

Our corporate headquarters are located in leased office facilities at 350 10th Ave., Suite 1000, San Diego, CA 92101. Because of the nature of our real estate development operations, significant amounts of property are held as inventory in the ordinary course. Such properties are not included in response to this Item.

**Item 3. Legal Proceedings.**

On April 8, 2025, CleanSpark, Inc. ("CleanSpark") initiated a civil action against the Company in the United States District Court for the Southern District of California (Civil Action No. '25CV829 RBMMSB) (the "Action"), in which CleanSpark alleges that the Company had breached the Securities Purchase Agreement, dated October 31, 2019, by and through which CleanSpark purchased shares of Series B Preferred Stock from the Company. As of the date of this filing, the Company is in settlement discussions, which includes the redemption of the Series B Preferred Stock.

**Item 4. Mine Safety Disclosures.**

Not applicable.

**PART II**

**Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.**

**Market Information**

On March 5, 2019, the Company received its trading symbol from FINRA "ILAL". On April 4, 2019, the Company was approved to have its common stock traded on the OTCQB. On April 12, 2019, the Company became eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States.

As of April 27, 2026, there were 879 holders of record of our common stock. As of such date, 4,664,667 shares of our common stock were issued and outstanding.

**Market for Common Equity**

Our common stock is quoted on the OTC Bulletin Board ("OTCQB") under the symbol "ILAL". The following table sets forth the high and low bid prices for our common stock for the two most recently completed fiscal years. Such prices are based on inter-dealer prices, without retail mark-up, markdown, or commission, and may not necessarily represent actual transactions.

---

| | | |
|:---|:---|:---|
| **Fiscal 2025** | **Low** | **High** |
| **First Quarter** | $6.00 | $9.50 |
| **Second Quarter** | $7.00 | $9.50 |
| **Third Quarter** | $7.50 | $17.50 |
| **Fourth Quarter** | $7.00 | $14.50 |

---

---

| | | |
|:---|:---|:---|
| **Fiscal 2024** | **Low** | **High** |
| **First Quarter** | $1.50 | $5.00 |
| **Second Quarter** | $1.00 | $4.00 |
| **Third Quarter** | $2.00 | $4.50 |
| **Fourth Quarter** | $3.00 | $6.00 |

---

**Repurchases of Equity Securities**

None.

**Securities Authorized for Issuance Under Equity Compensation Plans**

The information required by Item 5 of Part II of this Annual Report regarding equity compensation plans is incorporated herein by reference to Item 12 of Part III of this Annual Report.

**Transfer Agent**

Dynamic Stock Transfer, Inc., located at 15233 Ventura Blvd., Suite 710, Sherman Oaks, CA 91403 is the registrar and transfer agent for our common stock.

**Recent Sales of Unregistered Securities**

Below is a list of securities sold by the Company in the past three years which were not registered under the Securities Act. All share and per share numbers in this registration statement have been adjusted to give effect to our reverse split at a ratio of 1-for-50 effected on February 4, 2026.

**Common Stock Issued for Services.**

During the year ended December 31, 2025, the Company issued 284,355 shares of common stock pursuant to consulting agreements for a total fair value of approximately $1,321,252.

During the year ended December 31, 2023, the Company issued 59,060 shares of common stock pursuant to consulting agreements for a total fair value of approximately $449,000.

**Common Stock Issued for Cash.**

During the year ended December 31, 2023, the Company issued 10,000 shares of common stock for $50,000 in cash proceeds.

**Common Stock Issued for Warrant and Option Exercise.**

During the year ended December 31, 2025, the Company issued 24,800 shares of common stock pursuant to the exercise of warrants.

During the year ended December 31, 2024, the Company issued 49,697 shares of common stock pursuant to the exercise of warrants. All other equity issuances during the year ended December 31, 2024 were non-cash.

During the year ended December 31, 2023, the Company issued 5,346 shares of common stock pursuant to a cashless exercise of warrants.

During the year ended December 31, 2023, the Company issued 28,200 shares of common stock pursuant to an exercise of warrants.

**Common Stock Issued in Relation to Debt**

During the year ended December 31, 2025, the Company issued 306,631 shares of common stock pursuant to the conversion of convertible notes and notes payable.

During the year ended December 31, 2025, the Company issued 9,900 commitment shares of common stock in connection with the issuance of convertible notes.

During the year ended December 31, 2023, the Company issued 178,569 shares of common stock pursuant to the conversion of convertible notes and notes payable.

**Common Stock Issued for Business Acquisition**

During the year ended December 31, 2023, the Company issued 400,000 shares of common stock pursuant to a business acquisition with a fair value of $1,800,000.

**Series C Preferred Stock**

On October 15, 2025, the Company issued 3,316 shares of Series C Preferred Stock to Bigger Capital Fund, LP in a private equity offering for $250,000.

During the year ended December 31, 2025, the Company converted 3,100 shares of Series C Preferred stock into 88,571 shares of common stock.

On June 2, 2023, the Company issued 3,100 shares of Series C Preferred Stock to Bigger Capital Fund, LP in a private equity offering for $310,000.

The Company relied upon the exemption provided by Section 4(a)(2) of the Securities Act of 1933 in connection with issuance and sale of the securities described above. The persons who acquired these shares were sophisticated investors and were provided full information regarding the Company's business and operations. There were no general solicitations in connection with the offer or sale of these securities. The persons who acquired these securities acquired them for their own accounts. The certificates representing these securities will bear a restricted legend providing that they cannot be sold except pursuant to an effective registration statement or an exemption from registration. Other than H.C., Wainwright & Co., LLC, who is a registered broker/dealer, no commission was paid to any person in connection with the issuance or sale of these securities.

**Additional Information**

We are a fully reporting issuer, subject to the Exchange Act. Our Quarterly Reports, Annual Reports, and other filings can be obtained from the SEC's Public Reference Room at 100 F Street, NE., Washington, DC 20549, on official business days during the hours of 10 a.m. to 3 p.m. You may also obtain information on the operation of the Public Reference Room by calling the Commission at 1-800-SEC-0330. The Commission maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the Commission at http://www.sec.gov. Our internet website address is https://ila.company.

**Item 6. [RESERVED]**

**Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.**

***This Annual Report on Form 10-K contains forward-looking statements. Our actual results could differ materially from those set forth as a result of general economic conditions and changes in the assumptions used in making such forward-looking statements. The following discussion and analysis of our financial condition and results of operations should be read together with the audited financial statements and accompanying notes and the other financial information appearing elsewhere in this Annual Report on Form 10-K. The analysis set forth below is provided pursuant to applicable Securities and Exchange Commission regulations and is not intended to serve as a basis for projections of future events.***

**Overview of Our Company**

The Company was incorporated pursuant to the laws of the State of Wyoming on September 26, 2013. We are based in San Diego, California. We are a residential land development company with target properties located primarily in the Baja California Norte region of Mexico and Southern California. Our principal activities are purchasing properties, obtaining zoning and other entitlements required to subdivide the properties into residential and commercial building plots, securing financing for the purchase of the plots, improving the properties' infrastructure and amenities, and selling the lots to homebuyers, retirees, investors, and commercial developers. We offer the option of financing (i.e. taking a promissory note from the buyer for all or part of the purchase price) with a guaranteed acceptance on any purchase for every customer.

Overview

The real estate market in Northern Baja California has continued to significantly improve and has fully recovered from the negative impact of Covid-19. The housing prices has continued to rise in the Southwest U.S., and inventory has remained severely low, which generated additional attraction from home buyers seeking second homes or vacation homes.

The Company's current portfolio includes residential, resort and commercial properties comprising the following projects:

&nbsp;&nbsp;&nbsp;&nbsp;■  ***Oasis Park Resort*** is a 497-acres master planned real estate community including 1,344 residential home sites, south of San Felipe,
 Baja California, which offers a 180-degree sea and mountain views. In addition to the residential lots, there is a planned boutique
 hotel, a spacious commercial center, and a nautical center. As of the date of this report, 85 of the 1,344 planned residential lots
 were pre-sold to initial shareholders. The Company has made significant progress on the project, which included the completion of
 the two-mile access road and the community entrance structure. The Company also started construction of the waterfront clubhouse,
 and model homes.

■  ***Valle Divino*** is a self-contained solar 650-home site project in Ensenada, Baja California, with test vineyard at the property.
 This resort includes 137 residential lots and 3 commercial lots on 20 acres of land. This represents an estimated $60 million in
 gross sales opportunity.

■  ***Plaza Bajamar Resort*** is an 80-unit project located at the internationally renowned Bajamar Ocean front hotel and golf resort. The
 Bajamar oceanfront golf resort is a master planned golf community located 45 minutes south of the San Diego-Tijuana border along
 the scenic toll road to Ensenada. The first Phase will include 22 "Merlot" 1,150 square-foot single-family homes that
 features two bedrooms and two baths. The home includes two primary bedroom suites - one on the first floor and one upstairs, as well
 as fairway and ocean views from a rooftop terrace. The Merlot villas will come with the installation of solar packages.

■  ***Emerald Grove Estates*** is the Company's newly renovated Southern California property, used for organized events at this 8,000
 square foot event venue.

■  ***Rancho Costa Verde ("RCVD")*** is a 1,100-acre master planned second home, retirement home and vacation home real estate
 community located on the east coast of Baja California. RCVD is a self-sustained solar powered green community that takes advantage
 of the advances in solar and other green technology. In May 2021, the Company acquired a 25% investment in RCVD in exchange for $100,000
 and 60,000 shares of the Company's common stock, and such investment was initially recorded as an equity-method investment
 in the Company's condensed consolidated financial statements. On January 3, 2023, the Company acquired the remaining 75% membership
 interest in RCVD for a contractual consideration of $13.5 million, paid through $8,900,000 secured convertible note, 400,000 shares
 of common stock and 660,000 common stock warrants. This transaction was recorded pursuant to ASC 805 *Business Combinations*. In
 December 2025, the Company acquired an additional 300 acres of land for their RCVD location for a total consideration of $1.65 million.
 This purchase is subdivided into 7 parcels and consists of approximately 300 residential homesites, 12 existing tiny homes, and 2
 completed homes.

Summary of key operational and financial events:

&nbsp;&nbsp;&nbsp;&nbsp;■ The
 Company has collected an aggregate amount of $312,175 from house construction at the Plaza Bajamar project, which was initially recorded
 and presented as contract liability in the consolidated balance sheets. However, the Company offset the balance with the additional
 cash funded for the construction of amenities at Bajamar, with the net balance presented as impairment loss in the consolidated statement
 of operations in the previous year. There were no collections during 2025.

■ Continued
 our research and marketing efforts to identify potential home buyers in the United States, Canada, Europe, and Asia. Through the
 formation of a partnership with a similar development company in the Baja California Norte Region of Mexico, we have been able to
 leverage additional resources with the use of their established and proven marketing plan which can help us with sophisticated execution
 and the desired results for residential plot sales and development.

■ Title
 of Oasis Park Resort in San Felipe was assumed during 2019. We are expecting the transfer of title on Valle Divino in Ensenada, Baja
 California and Plaza Bajamar in Ensenada, Baja California before the end of our second fiscal quarter of 2026, as we continue to follow
 the necessary steps to complete this legal process.

**<u>Results of Operations for the year ended December 31, 2025, compared to the year ended December 31, 2024</u>**

---

| | | |
|:---|:---|:---|
|  | For the years ended | For the years ended |
|  | December 31, <br> 2025 | December 31, <br> 2024 |
| Revenues and lease income | $2434413 | $8094940 |
| Cost of revenue | 1618529 | 1242057 |
| &nbsp;&nbsp;&nbsp;Gross profit | 815884 | 6852883 |
| Operating expenses |  |  |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 848140 | 866607 |
| &nbsp;&nbsp;&nbsp;Impairment loss |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 7129788 | 1864249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 7977928 | 2730857 |
| &nbsp;&nbsp;&nbsp;Income (loss) from operations | (7162044) | 4122027 |
| Other income (expense) |  |  |
| &nbsp;&nbsp;&nbsp;Loss from conversion of debt to equity | (1976914) |  |
| &nbsp;&nbsp;&nbsp;Recapture of debt | 228950 |  |
| &nbsp;&nbsp;&nbsp;Change in fair value derivative liability | (2800243) | 338311 |
| &nbsp;&nbsp;&nbsp;Interest expense | (2587933) | (1412556) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense, net | (7136140) | (1074245) |
| Net income (loss) | $(14298184) | $3047782 |

---

***Revenues***

Revenue decreased by $5,660,527 to $2,434,413 for the year ended December 31, 2025, from $8,094,940 for the year ended December 31, 2024. The revenue recognized during the year ended December 31, 2025, includes real estate sales, interest from financed sales, financing fees, and components of home construction.

 ****

***Cost of Revenues***

Cost of revenue increased by $376,472 to $1,618,529 for the year ended December 31, 2025, from $1,242,057 for the year ended December 31, 2024. Cost of revenue includes land cost and related land improvements including infrastructure, construction and subdivision costs.

***Operating Expenses***

Operating expenses increased by $5,247,071 to $7,977,928 for the year ended December 31, 2025, from $2,730,857 for the year ended December 31, 2024.

Such increase mainly relates to a large increase in stock-based compensation expenses of $2,794,632 during 2025 which totaled $3,702,669 compared to $908,037 in the prior year. In addition, general and administrative increased for professional fees and other general and administrative expenses during 2025, due to the lack of capital available during the year ended December 31, 2024. Sales and marketing remained relatively flat, decreasing $18,468 during 2025, from the year ended December 31, 2024. Sales costs are related to real estate's sales commissions. Marketing costs include advertising, prospective customers' education, travel, and accommodation.

***Other expenses***

Other expenses increased by $6,061,895 to $7,136,140 for the year ended December 31, 2025, from $1,074,245 during ended December 31, 2024. Such change is primarily due to the change in fair value of the Company's derivative liability of $2,800,243 and loss on debt extinguishment of $1,976,914, with interest expense increasing $1,175,377 year over year.

***Net Loss***

As a result of the foregoing, the Company finished the year ended December 31, 2025, with net loss of $14,298,184, as compared to net income of $3,047,781 for the year ended December 31, 2024.

The factors that will most significantly affect future operating results will be:

■ The
 positive effect of implemented sales and marketing initiatives to drive opportunities into our various projects.

■ The
 quality of our amenities.

■ The
 global economy and the demand for vacation homes.

■ The
 sale price of future plots and home construction compared to the sale price in other resorts in Mexico.

■ The
 prime location of our projects.

Other than the foregoing we do not know of any trends, events or uncertainties that have had, or are reasonably expected to have, a material impact on our revenues or expenses.

**<u>Capital Resources and Liquidity</u>**

Cash was $4,186 and $26,120 as of December 31, 2025 and 2024, respectively. As shown in the accompanying financial statements, we recorded loss of $14.3 million for year ended December 31, 2025. Our working capital deficit as of December 31, 2025, was $24.3 million. These factors and our ability to raise additional capital to accomplish our objectives, raises substantial doubt about our ability to continue as a going concern. We expect our expenses will continue to increase during the foreseeable future as a result of increased operations, increased construction activity and the development of current and future projects which include our current business operations.

We anticipate generating increased revenues over the next twelve months, as we continue to market the sale of plots held for sale at our various projects, generate cash from the sale of house construction at our properties.

If the Company is not successful with its marketing efforts to increase sales, the Company will continue to experience a shortfall in cash, and it will be necessary to obtain funds through equity or debt financing in sufficient amounts or to further reduce its operating expenses in a manner to avoid the need to curtail its future operations.

**<u>Operating Activities</u>**

Net cash flows used in operating activities for the year ended December 31, 2025, was $998,582 which resulted primarily due to net loss of $14,298,184, off-set by non-cash share-based compensation of $3,702,669, loss on debt conversion of $1,976,914, change in fair value of derivative liability of $2,800,243, and by a positive net change in assets and liabilities of $3,035,516.

Net cash flows used in operating activities for the year ended December 31, 2024, was $384,680 which resulted primarily due to net income of $3,047,781, non-cash share-based compensation of $908,037, depreciation of $87,250, and change in fair value of derivative liability of $338,311, offset by a negative net change in assets and liabilities of $4,089,436.

**<u>Investing Activities</u>**

Net cash flows used in investing activities was $3,101,938 for the year ended December 31, 2025. The funds were used for the development of the various projects and additional investment for land development, as well as an increase in long-term accounts receivable.

Net cash flows used in investing activities was $513,138 for the year ended December 31, 2024. The funds were used for the development of the various projects and additional investment for land development.

**<u>Financing Activities</u>**

Net cash flows provided by financing activities for the year ended December 31, 2025, was $4,078,586, primarily from cash proceeds from other loans of $1,497,217, cash proceeds from convertible notes of $4,297,100, cash proceeds from the issuance of Series C Preferred stock of $250,000, and cash proceeds from promissory notes of $100,000, primarily offset by cash payments on other loans of $1,751,465, dividends paid of $132,054, and cash payments on convertible notes of $329,414.

Net cash flows provided by financing activities for the year ended December 31, 2024, was $738,691, primarily from cash proceeds from related parties for aggregate amount of $242,875, cash proceeds from convertible notes of $456,130, cash proceeds from other loans for $666,363, cash proceeds from promissory notes of $75,000, dividends paid of $91,678, and cash payments on promissory notes of $565,000.

As a result of these activities, we experienced a decrease in cash of $21,934 for the year ended December 31, 2025. Our ability to continue as a going concern is dependent on our success in obtaining additional financing from investors or from the sale of our common shares.

**Critical Accounting Polices**

In December 2001, the SEC requested that all registrants list their "critical accounting polices" in the Management Discussion and Analysis. The SEC indicated that a "critical accounting policy" is one which is both important to the portrayal of a company's financial condition and results, and requires management's most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. Our accounting policies are disclosed in Note 2 of our audited consolidated financial statements included herein. We consider the following accounting policies critical to the understanding of the results of our operations:

■ Going
 concern. It requires to rely on management's representation on financial forecast.

■ Revenue
 recognition. It requires judgement to determine when a contract exists, when performance obligations are met and the estimated variable
 consideration if any.

■ Issuance
 of debt with attached financial instruments. Some instruments carry embedded features that require bifurcation from host instrument
 and accounting as derivative liability.

■ Accounting
 of the Company's equity-method investment. Indeed, it requires judgement by management to determine whether there is significant
 influence or control over the Company's investee. Significant influence is the power to participate in the financial and operating
 policy decisions of the investee but is not control or joint control over these policies.

**Off-balance Sheet Arrangements**

During the year ended December 31, 2025, we have not engaged in any off-balance sheet arrangements.

**Recent Accounting Pronouncements**

The recent accounting pronouncements that are material to our financial statements are disclosed in Note 2 of our consolidated audited financial statements included herein.

**Item 7A. Quantitative and Qualitative Disclosures about Market Risk.**

Not required under Regulation S-K for "smaller reporting companies."

**Item 8. Financial Statements and Supplementary Data.**

Our audited consolidated financial statements are set forth in this Annual Report beginning on page F-1.

**INTERNATIONAL LAND ALLIANCE, INC. INDEX TO FINANCIAL STATEMENTS**

---

| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm](#Fin_001)(PCAOB ID No: 6797) | F-2 |
| [Consolidated Balance Sheets as of December 31, 2025, and 2024](#Fin_002) | F-3 |
| [Consolidated Statements of Operations for the Years Ended December 31, 2025, and 2024](#Fin_003) | F-4 |
| [Consolidated Statement of Changes in Stockholders' Equity (Deficit) for the Years Ended December 31, 2025, and 2024](#Fin_004) | F-5 |
| [Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, and 2024](#Fin_005) | F-7 |
| [Notes to Financial Statements](#Fin_006) | F-8 to F-33 |

---

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Shareholder and the Board of Directors,

International Land Alliance, Inc.

San Diego, CA

***Opinion on the Financial Statements***

We have audited the accompanying consolidated balance sheets of International Land Alliance, Inc. (the "Company") as of December 31, 2025, and 2024 and the related consolidated statements of operations, stockholders' equity, and cash flows for each of the three years in the period ended December 31, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

***Going Concern***

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As disclosed in Note 1 to the financial statements, the Company has suffered recurring losses and negative cash flows from operations in recent years and is dependent on debt and equity financing to fund its operations, all of which raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are disclosed in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

***Basis for Opinion***

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

***Critical Audit Matters***

The critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

&nbsp;&nbsp;&nbsp;&nbsp;**1.** **Accounts Receivable – Allowance for Doubtful Accounts** 

The allowance for doubtful accounts was identified as a critical audit matter due to the significant judgment involved in estimating collectability of receivables. As of the balance sheet date, International Land Alliance, Inc. reported accounts receivable, net of allowance, of approximately $1.5 million. The estimation process involves subjective assumptions, including aging, historical collection trends, and customer-specific risks, particularly for financed sales and accounts with irregular payment patterns. Auditing this area required heightened auditor judgment and evaluation of estimation uncertainty and therefore involved especially challenging and subjective auditor procedures. Accordingly, we determined this matter to be a critical audit matter.

<u>How the Matter Was Addressed in the Audit</u> 

Our audit procedures related to the valuation of the Allowance for doubtful accounts included, the following:

● Our audit procedures related to the Company's allowance for expected credit losses (ECL) on accounts receivable included, among others:

● Obtaining the accounts receivable aging and repayment schedules for financed sales and agreeing the total balances to the general ledger and trial balance to assess completeness and accuracy.

● Testing the reconciliation of gross receivables, the allowance for expected credit losses, and net receivables to the underlying accounting records.

● Evaluating customer payment histories and identifying accounts with delinquent or irregular payment patterns to assess the need for specific reserves, including full (100%) allowances where appropriate.

● Assessing the reasonableness of management's assumptions and methodology used in estimating the ECL allowance, including consideration of historical collection trends and relevant qualitative factors.

● In addition, we independently recalculated the expected credit loss allowance and identified a material difference compared to management's estimate. We proposed an audit adjustment (AJE) to correct the variance, which was reviewed and accepted by management and recorded in the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;**2.** **Revenues and Deferred revenues** 

Revenue recognition was identified as a critical audit matter due to the nature and timing of transactions and the subjectivity involved in cost estimation and evaluation of audit evidence. For the year ended, International Land Alliance, Inc. reported revenue of approximately $2.43 million from land sales and construction activities. While land sales require judgment in cutoff, construction revenue recognized over time involves estimation of total costs and progress toward completion. Based on discussions with management, the Company maintains a standardized arrangement with contractors, whereby construction costs are determined through informal agreements without separate formal cost estimation contracts, increasing estimation uncertainty. Accordingly, due to the audit effort and judgment involved, revenue recognition was determined to be a critical audit matter.

<u>How the Matter Was Addressed in the Audit</u>

Our audit procedures related to the recognition of revenue and deferred revenue included, the following:

● We obtained an understanding of the Company's revenue recognition processes and evaluated the design and implementation of relevant controls over contract review, cost estimation, and revenue recording.

● We agreed the revenue schedule to the general ledger for completeness and accuracy and selected samples for substantive testing, including items above performance materiality and random selections.

● For land sales, we inspected executed agreements and closing documentation to assess proper timing of revenue recognition.

● For construction revenue, we reviewed contracts, invoices, and cost data to understand terms and evaluated the reasonableness of management's cost estimates using supporting documentation and standardized cost metrics.

● We independently recalculated percentage of completion under the cost-to-cost method using costs incurred relative to total estimated costs and agreed underlying data to the accounting records.

● We reviewed progressive billings, traced transactions to the general ledger, results indicated revenue recognition was incorrect with differences identified. We proposed an audit adjustment (AJE) to correct the variance, which was reviewed and accepted by management and recorded in the financial statements.

/s/ Bush & Associates CPA LLC

We have served as the Company's auditor since 2024.

Las Vegas, Nevada

April 27, 2026

PCAOB ID Number 6797

9555 S. Eastern Ave, Suite 280 Las Vegas NV 89123  702.703.5979  <u>www.bushandassociatescpas.com</u>

**INTERNATIONAL LAND ALLIANCE, INC.**

**CONSOLIDATED BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
|  | December 31, 2025 | December 31, 2024 |
| ASSETS |  |  |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $4186 | $26120 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 488409 | 1264634 |
| &nbsp;&nbsp;&nbsp;Prepaid and other current assets | 115138 | 255516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 607733 | 1546270 |
| &nbsp;&nbsp;&nbsp;Land | 17662657 | 15776526 |
| &nbsp;&nbsp;&nbsp;Buildings, net | 1616117 | 1833021 |
| &nbsp;&nbsp;&nbsp;Furniture and equipment, net |  |  |
| &nbsp;&nbsp;&nbsp;Other non-current assets | 311367 | 408064 |
| &nbsp;&nbsp;&nbsp;Long-term accounts receivable, net | 1019829 |  |
| &nbsp;&nbsp;&nbsp;Goodwill | 11118187 | 11118187 |
| Total assets | $32335890 | $30682068 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | $1435249 | $1141338 |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities related parties | 2164515 | 326947 |
| &nbsp;&nbsp;&nbsp;Accrued interest | 1753445 | 1394889 |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 46500 |  |
| &nbsp;&nbsp;&nbsp;Contract liability | 143680 | 143680 |
| &nbsp;&nbsp;&nbsp;Escrow deposits | 1032550 | 20500 |
| &nbsp;&nbsp;&nbsp;Derivative liability | 2961379 | 161136 |
| &nbsp;&nbsp;&nbsp;Convertible notes, net of debt discounts | 6681925 | 600000 |
| &nbsp;&nbsp;&nbsp;Convertible note RCVD acquisition |  |  |
| &nbsp;&nbsp;&nbsp;Promissory notes, net of debt discounts | 513532 | 432762 |
| &nbsp;&nbsp;&nbsp;Promissory notes, net discounts – Related Parties | 586567 | 347374 |
| &nbsp;&nbsp;&nbsp;Other loans | 7622729 | 8553338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 24942071 | 13121964 |
| &nbsp;&nbsp;&nbsp;Convertible notes, net of current portion | - | 2502000 |
| Total liabilities | 24942071 | 15623964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commitments and Contingencies (Note 8) |  |  |
| &nbsp;&nbsp;&nbsp;Preferred Stock Series B (Temporary Equity) | 293500 | 293500 |
| &nbsp;&nbsp;&nbsp;Preferred Stock Series C (Temporary Equity) | 331523 | 310000 |
| &nbsp;&nbsp;&nbsp;Total Temporary Equity | 625023 | 603500 |
| Stockholders' Equity |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock; $0.001 par value; 2,010,000 shares authorized; 117,000 Series A shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 117 | 117 |
| &nbsp;&nbsp;&nbsp;1,000 Series B shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;3,316 Series C shares issued and outstanding as of December 31, 2025 and 3,100 issued and outstanding as of December 31, 2024 | 3 | 3 |
| &nbsp;&nbsp;&nbsp;17,000 Series D shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 17 | 17 |
| &nbsp;&nbsp;&nbsp;Common stock; $0.001 par value; 250,000,000 shares authorized; 2,666,311 and 2,606,311 shares issued and outstanding as of December 31, 2025, respectively, and 1,952,054 and 1,892,054 shares issued and outstanding as of December 31, 2024, respectively | 133316 | 97603 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 43772482 | 38803819 |
| &nbsp;&nbsp;&nbsp;Common stock payable | 1582000 |  |
| &nbsp;&nbsp;&nbsp;Treasury stock (3,000,000 shares as of December 31, 2025 and December 31, 2024) | (300000) | (300000) |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (38419140) | (24146956) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 6768796 | 14454604 |
| Total liabilities and stockholders' equity | $32335890 | $30682068 |

---

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

**INTERNATIONAL LAND ALLIANCE, INC.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

---

| | | |
|:---|:---|:---|
|  | For the Years Ended, | For the Years Ended, |
|  | December 31, 2025 | December 31, 2024 |
| Net revenues and lease income | $2434413 | $8094940 |
| Cost of revenues | 1618529 | 1242057 |
| &nbsp;&nbsp;&nbsp;Gross profit | 815884 | 6852883 |
| **Operating expenses** |  |  |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 848140 | 866607 |
| &nbsp;&nbsp;&nbsp;Impairment loss |  |  |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 7129788 | 1864249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 7977928 | 2730856 |
| **Income (loss) from operations** | (7162044) | 4122027 |
| **Other income (expense)** |  |  |
| &nbsp;&nbsp;&nbsp;Loss from conversion of debt to equity | (1976914) |  |
| &nbsp;&nbsp;&nbsp;Other income | 228950 |  |
| &nbsp;&nbsp;&nbsp;Change in fair value derivative liability | (2800243) | 338311 |
| &nbsp;&nbsp;&nbsp;Interest expense | (2587933) | (1412556) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense, net | (7136140) | (1074245) |
| **Net income (loss)** | $(14298184) | $3047782 |
| Preferred stock dividends | 132054 | 114308 |
| Net income (loss) applicable to common shareholders | $(14430238) | $2933474 |
| Income (loss) per common share - basic and diluted | $(0.13) | $0.04 |
| Weighted average common shares outstanding - basic and diluted | 110240896 | 84394693 |

---

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

**INTERNATIONAL LAND ALLIANCE, INC.**

**CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)**

***Activity for the year Ended December 31, 2025***

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Series A<br> Preferred Stock | Series A<br> Preferred Stock | Series B<br> Preferred Stock | Series B<br> Preferred Stock | Series C<br> Preferred Stock | Series C<br> Preferred Stock | Series D<br> Preferred Stock | Series D<br> Preferred Stock | Common Stock | Common Stock | | | | | |
|  | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Treasury<br>Stock | Additional Paid-in<br>Capital | Common Stock<br>Payable | Accumulated<br>Deficit | Total Stockholders'<br>Equity |
| Balance, December 31, 2024 | 117000 | $117 | 1000 | $&nbsp;&nbsp;&nbsp;&nbsp;1 | 3100 | &nbsp;&nbsp;&nbsp;&nbsp;3 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;17 | 1952054 | $97603 | (300000) | $38803819 | $- | $(24146956) | $14454604 |
| Dividend on Series A Preferred |  |  |  |  |  |  |  |  |  |  |  | (24500) |  |  | (24500) |
| Dividend on Series D Preferred |  |  |  |  |  |  |  |  |  |  |  | (107554) |  |  | (107554) |
| Common shares issued for cash |  |  |  |  |  |  |  |  |  |  |  |  | 25000 |  | 25000 |
| Common shares issued pursuant to inducement agreement |  |  |  |  |  |  |  |  | 9900 | 495 |  | 82255 |  |  | 82750 |
| Common stock issued for consulting services |  |  |  |  |  |  |  |  | 284355 | 14218 |  | 1307318 |  |  | 1321536 |
| Prior period adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | (56582) | (56582) |
| Common shares issued pursuant to employment agreement |  |  |  |  |  |  |  |  |  |  |  |  | 1557000 |  | 1557000 |
| Common stock issued from debt conversion |  |  |  |  |  |  |  |  | 306631 | 15332 |  | 3488336 |  |  | 3503668 |
| Common shares issued for conversion of Series C Preferred Stock |  |  |  |  | (3100) | (3) |  |  | 88571 | 4429 |  | 305574 |  |  | 310000 |
| Warrants Exercised Pursuant to Series C Preferred Stock |  |  |  |  |  |  |  |  | 24800 | 1240 |  | (1240) |  |  | 9456250 |
| Series C Preferred Stock issued for cash |  |  |  |  | 2500 | 3 |  |  |  |  |  |  |  |  | 3 |
| Deemed Dividend on Series C Preferred Stock |  |  |  |  | 816 |  |  |  |  |  |  | (81526) |  |  | (81526) |
| Net income | - | - | - | - | - | - | - | - | - | - | - | - | - | (14298184) | (14298184) |
| Balance, December 31, 2025 | 117000 | $117 | 1000 | $1 | 3316 | 3 | 17000 | $17 | 2666311 | $133316 | $(300000) | $43772482 | $- | $(38419140) | $6768796 |

---

***Activity for the year Ended December 31, 2024***

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Series A<br> Preferred Stock | Series A<br> Preferred Stock | Series B<br> Preferred Stock | Series B<br> Preferred Stock | Series C<br> Preferred Stock | Series C<br> Preferred Stock | Series D<br> Preferred Stock | Series D<br> Preferred Stock | Common Stock | Common Stock | | | | | |
|  | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | Treasury<br>Stock | Additional<br> Paid-in<br>Capital | Common Stock<br>Payable | Accumulated<br>Deficit | Total<br> Stockholders'<br>Deficit |
| Balance, December 31, 2023 | 28000 | $28 | 1000 | $&nbsp;&nbsp;&nbsp;&nbsp;1 | 3100 | &nbsp;&nbsp;&nbsp;&nbsp;3 | 17000 | &nbsp;&nbsp;&nbsp;&nbsp;17 | 1593163 | $79658 | (300000) | $28476622 | $31939 | $(27194738) | $1093530 |
| Dividend on Series C Preferred |  |  |  |  |  |  |  |  | 7747 | 387 |  | (23017) |  |  | (22630) |
| Common stock issued for warrant exercise |  |  |  |  |  |  |  |  | 49697 | 2485 |  | (2485) |  |  |  |
| Common shares issued pursuant to inducement agreement |  |  |  |  |  |  |  |  | 10000 | 500 |  | 12000 |  |  | 12500 |
| Common shares issued pursuant to promissory notes |  |  |  |  |  |  |  |  | 81000 | 4050 |  | 180915 | (31939) |  | 153026 |
| Stock-based compensation |  |  |  |  |  |  |  |  |  |  |  | 156094 |  |  | 156094 |
| Common stock issued for consulting services |  |  |  |  |  |  |  |  | 144052 | 7203 |  | 552717 |  |  | 559919 |
| Common stock issued from debt conversion |  |  |  |  |  |  |  |  | 24476 | 1224 |  | 47902 |  |  | 49126 |
| Dividend on Series A Preferred |  |  |  |  |  |  |  |  |  |  |  | (333511) |  |  | (333511) |
| Series A Preferred shares issued for the conversion of related party debt | 89000 | 89 |  |  |  |  |  |  |  |  |  | 9456161 |  |  | 9456250 |
| Settlement of derivative liability |  |  |  |  |  |  |  |  |  |  |  | 282518 |  |  | 282518 |
| Dividend paid on Series D Preferred Stock |  |  |  |  |  |  |  |  | 41920 | 2096 |  | (2096) |  |  |  |
| Net income | - | - | - | - | - | - | - | - | - | - | - | - | - | 3047782 | 3047782 |
| Balance, December 31, 2024 | 117000 | $117 | 1000 | $1 | 3100 | 3 | 17000 | $17 | 1952054 | $97603 | $(300000) | $38803819 | $- | $(24146956) | $14454604 |

---

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

**INTERNATIONAL LAND ALLIANCE, INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

---

| | | |
|:---|:---|:---|
|  | For the Years Ended, | For the Years Ended, |
|  | December 31, 2025 | December 31, 2024 |
| Cash Flows from Operating Activities |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(14298184) | $3047782 |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 3702669 | 908037 |
| &nbsp;&nbsp;&nbsp;Loss from extinguishment of debt | 1976914 |  |
| &nbsp;&nbsp;&nbsp;Fair value of commitment shares | 82740 |  |
| &nbsp;&nbsp;&nbsp;Bad debt expense | 241962 |  |
| &nbsp;&nbsp;&nbsp;Prior period adjustment | 26000 | - |
| &nbsp;&nbsp;&nbsp;Non-cash interest expense | 901786 |  |
| &nbsp;&nbsp;&nbsp;Depreciation expense | 163544 | 87250 |
| &nbsp;&nbsp;&nbsp;Excess fair value of derivative over carrying balance of debt | (228477) |  |
| &nbsp;&nbsp;&nbsp;Change in fair value derivative | 2800243 | (338311) |
| &nbsp;&nbsp;&nbsp;Amortization of debt discount | 596706 |  |
| Changes in assets and liabilities |  |  |
| &nbsp;&nbsp;&nbsp;Accounts Receivable | 730241 | 387452 |
| &nbsp;&nbsp;&nbsp;Prepaid and other current assets | 140377 | (238702) |
| &nbsp;&nbsp;&nbsp;Other non-current assets | 96697 | (165229) |
| &nbsp;&nbsp;&nbsp;Accrued interest | 358556 | 722577 |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | 293910 | (290337) |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities-related party | 1837568 | (34276) |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 46500 | (4521222) |
| &nbsp;&nbsp;&nbsp;Escrow deposit liability | (468334) | 50299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (998582) | (384680) |
| Cash Flows from investing |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from disposal of fixed assets |  |  |
| &nbsp;&nbsp;&nbsp;Additions to long-term accounts receivable | (1215807) |  |
| &nbsp;&nbsp;&nbsp;Additional expenditures on land | (1886131) | (288138) |
| &nbsp;&nbsp;&nbsp;Additions to Construction in Progress on land not owned | - | (225000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (3101938) | (513138) |
| Cash Flows from Financing Activities |  |  |
| &nbsp;&nbsp;&nbsp;Series D Preferred Stock dividends paid | (24500) |  |
| &nbsp;&nbsp;&nbsp;Series A Preferred Stock dividends paid | (107554) |  |
| &nbsp;&nbsp;&nbsp;Cash received for common stock payable | 25000 | - |
| &nbsp;&nbsp;&nbsp;Dividends paid on Series C Preferred Stock |  | (91677) |
| &nbsp;&nbsp;&nbsp;Series C Preferred Stock issued for cash | 250000 |  |
| &nbsp;&nbsp;&nbsp;Cash proceeds from promissory notes – related party | 141432 | 242875 |
| &nbsp;&nbsp;&nbsp;Cash payments on promissory notes | (19230) | (565000) |
| &nbsp;&nbsp;&nbsp;Cash proceeds from convertible notes | 4297100 | 456130 |
| &nbsp;&nbsp;&nbsp;Cash payments on convertible notes | (329414) |  |
| &nbsp;&nbsp;&nbsp;Cash proceeds from promissory notes | 100000 | 75000 |
| &nbsp;&nbsp;&nbsp;Cash proceeds from other loans | 1497217 | 666363 |
| &nbsp;&nbsp;&nbsp;Cash payments on other loans | (1751465) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 4078586 | 783691 |
| Net increase (decrease) in cash | (21934) | (114127) |
| Cash, beginning of year | 26120 | 140247 |
| Cash, end of year | $4186 | $26120 |
| Supplemental disclosure of cash flow information |  |  |
| &nbsp;&nbsp;&nbsp;Cash paid for interest | $391095 | $254912 |
| ***Non-Cash investing and financing transactions*** |  |  |
| &nbsp;&nbsp;&nbsp;Dividend on Series A | $107554 | $333511 |
| &nbsp;&nbsp;&nbsp;Dividend on Series D | $24500 | $- |
| &nbsp;&nbsp;&nbsp;Dividend on Series C | $81526 | $22630 |
| &nbsp;&nbsp;&nbsp;Conversion of Series C Preferred Stock to Common Stock | $(305574) | $- |
| &nbsp;&nbsp;&nbsp;Conversion of related party debt | $- | $- |
| &nbsp;&nbsp;&nbsp;Conversion of debt for common shares | $3488336 | $49126 |
| &nbsp;&nbsp;&nbsp;Debt discount | $- | $169498 |
| &nbsp;&nbsp;&nbsp;Commitment shares issued with promissory notes | $82255 | $165526 |

---

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

**INTERNATIONAL LAND ALLIANCE, INC.**

**Notes to the Consolidated Financial Statements**

**For the Years Ended December 31, 2025 and 2024**

**NOTE 1 – NATURE OF OPERATIONS AND GOING CONCERN**

***Nature of Operations***

International Land Alliance, Inc. (the "Company") was incorporated under the laws of the State of Wyoming on September 26, 2013. The Company is a residential land development company with target properties located in the Baja California, Northern region of Mexico and Southern California. The Company's principal activities are purchasing properties, obtaining zoning and other entitlements required to subdivide the properties into residential and commercial building plots, securing financing for the purchase of the plots, improving the properties infrastructure and amenities, and selling the plots to homebuyers, retirees, investors, and commercial developers.

In May 2021, the Company acquired a 25% investment in Rancho Costa Verde Development LLC ("RCVD"). RCVD is a 1,100-acre master planned second home, retirement home and vacation home real estate community located on the east coast of Baja California. RCV is a self-sustained solar powered green community that takes advantage of the advances in solar and other green technology. On January 3, 2023, the Company completed the acquisition of the remaining 75% interest in RCVD for a contractual price of $13.5 million, paid through a combination of a promissory note, common stock and common stock purchase warrants. As a result of the transaction, RCVD became a wholly owned subsidiary of the Company. The transaction was accounted for as a business acquisition pursuant to ASC 805 Business Combinations.

***Going Concern and liquidity***

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business.

Management evaluated all relevant conditions and events that are reasonably known or reasonably knowable, in the aggregate, as of the date the consolidated financial statements were available to be issued and determined that substantial doubt exists about the Company's ability to continue as a going concern. The Company's ability to continue as a going concern is dependent on the Company's ability to generate revenues from its properties, raise capital or issue debt instruments. The Company has faced significant liquidity shortages as shown in the accompanying consolidated financial statements. As of December 31, 2025, the Company's current liabilities exceeded its current assets by approximately $24.3 million. The Company has recorded a net loss of $14.3 million for the year ended December 31, 2025, and has an accumulated deficit of approximately $38.4 million as of December 31, 2025. Net cash used in operating activities for the year ended December 31, 2025, was approximately $1.0 million. These factors raise substantial doubt about the Company's ability to continue as a going concern.

The Company is currently raising additional capital through debt and equity financing in order to continue the funding of its operations, which may have the effect of diluting the holdings of existing shareholders.

Management anticipates that the Company's capital resources will significantly improve if its plots of land gain wider market recognition and acceptance resulting in increased plot sales and house construction. If the Company is not successful with its marketing efforts to increase sales, the Company will continue to experience a shortfall in cash, and it will be necessary to obtain funds through equity or debt financing in sufficient amounts or to further reduce its operating expenses in a manner to avoid the need to curtail its future operations subsequent to December 31, 2025. The direct impact of these conditions is not fully known.

However, there can be no assurance that the Company would be able to secure additional funds if needed and that if such funds were available on commercially reasonable terms or in the necessary amounts, and whether the terms or conditions would be acceptable to the Company. In such case, the reduction in operating expenses might need to be substantial in order for the Company to generate positive cash flow to sustain the operations of the Company.

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

*Basis of Presentation*

The consolidated financial statements of the Company are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") and the rules and regulations of the Securities and Exchange Commission ("SEC"). These consolidated financial statements are presented in United States dollars.

*Principles of Consolidation*

The accompanying consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, ILA Fund I, LLC (the "ILA Fund"), a company incorporated in the State of Wyoming and International Land Alliance, S.A. de C.V. ("ILA Mexico"), a company incorporated in Mexico, Emerald Grove Estates LLC, incorporated in the State of California, Oasis Park Resort, LLC, incorporated in the State of Wyoming, Plaza Bajamar, LLC, incorporated in the State of Wyoming, and Plaza Valle Divino, LLC, incorporated in the State of California.

ILA Fund includes cash as its only assets with minimal expenses as of December 31, 2025. The sole purpose of this entity is strategic funding for the operations of the Company. ILA Mexico has lots held for sale for the Oasis Park Resort, no liabilities, and minimal expenses as of December 31, 2025. As of December 31, 2025, Emerald Grove Estates LLC, Plaza Bajamar LLC, and Plaza Valle Divino LLC have no operations. All intercompany balances and transactions are eliminated in consolidation.

The Company's consolidated subsidiaries were as follows as of December 31, 2025:

---

| | | |
|:---|:---|:---|
| **Name of Consolidated Subsidiary or Entity** | **State or Other**<br> **Jurisdiction of**<br> **Incorporation or**<br> **Organization** | **Attributable Interest** |
| ILA Fund I, LLC | Wyoming | 100% |
| International Land Alliance, S.A. de C.V. (ILA Mexico) | Mexico | 100% |
| Rancho Costa Verde Development, LLC | Nevada | 100% |
| Emerald Grove Estates, LLC | California | 100% |
| Oasis Park Resort, LLC | Wyoming | 100% |
| Plaza Bajamar, LLC | Wyoming | 100% |
| Plaza Valle Divino, LLC | Wyoming | 100% |

---

On January 1, 2023, the Company executed a securities purchase agreement pursuant to which the Company acquired all of the issued and outstanding units of Rancho Costa Verde Development, LLC. for a total contractual consideration of $13,500,000, paid through a combination of a promissory note, common stock and common stock purchase warrants.

 

*Reclassification*

Certain numbers from 2024 have been reclassified to conform with the current year presentation.

*Investments - Equity Method*

The Company accounts for equity method investments at cost, adjusted for the Company's share of the investee's earnings or losses, which are reflected in the consolidated statements of operations. The Company periodically reviews the investments for other than temporary declines in fair value below cost and more frequently when events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. On January 3, 2023, the Company acquired a controlling financial interest in its previous equity method investment, which resulted in the consolidation pursuant to ASC 805 *Business Combinations* of such entity on the effective date.

*Use of Estimates*

The preparation of financial statements in conformity with US. 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. Management regularly evaluates estimates and assumptions related to the valuation of assets and liabilities. Management bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from management's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Significant estimates include:

&nbsp;&nbsp;&nbsp;&nbsp;■ Liability
 for legal contingencies.

■ Useful
 lives of building.

■ Assumptions
 used in valuing equity instruments.

■ Deferred
 income taxes and related valuation allowance.

■ Going
 concern.

■ Assessment
 of long-lived asset for impairment.

■ Significant
 influence or control over the Company's equity-method investee.

■ Revenue
 recognition.

*Segment Reporting*

The Company operates as one reportable segment under ASC 280, Segment Reporting. The Chief Operating Decision Maker ("CODM") regularly reviews the financial information of the Company at a consolidated level in deciding how to allocate resources and in assessing performances.

*Cash and Cash Equivalents*

The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2025, and 2024.

*Fair value of Financial Instruments and Fair Value Measurements*

Accounting Standards Codification ("ASC") 820 *Fair Value Measurements and Disclosures,* requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1: uses quoted market prices in active markets for identical assets or liabilities.

Level 2: uses observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: uses unobservable inputs that are not corroborated by market data.

As defined by ASC 820, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale, which was further clarified as the price that would be received to sell an asset or paid to transfer a liability ("an exit price") in an orderly transaction between market participants at the measurement date.

The reported fair values for financial instruments that use Level 2 and Level 3 inputs to determine fair value are based on a variety of factors and assumptions. Accordingly, certain fair values may not represent actual values of the Company's financial instruments that could have been realized as of any balance sheet dates presented or that will be recognized in the future, and do not include expenses that could be incurred in an actual settlement.

The carrying amounts of the Company's financial assets and liabilities, such as cash, accounts receivable, prepaid, and other current assets, accounts payable and accrued liabilities, contracts liability, deposits, promissory notes, net of debt discounts and promissory notes related party, deferred revenue, and other loans, approximate fair value due to their relatively short maturities. Equity-method investment is recorded at cost, which approximates its fair value since the consideration transferred includes cash and a non-monetary transaction, in the form of the Company's common stock, which was valued based on a combination of a market and asset approach.

The fair value of the Company's recorded derivative liability is determined based on unobservable inputs that are not corroborated by market data, which require a Level 3 classification. A Black-Scholes option valuation model was used to determine the fair value. The Company records derivative liability on the consolidated balance sheets at fair value with changes in fair value recorded in the consolidated statements of operation.

The following table presents balances of the liabilities with significant unobservable inputs (Level 3) as of December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Fair Value Measurements at December 31, 2025, Using | Fair Value Measurements at December 31, 2025, Using | Fair Value Measurements at December 31, 2025, Using | Fair Value Measurements at December 31, 2025, Using |
|  | Quoted Prices in<br> Active Markets for<br> Identical Assets<br> (Level 1) | Significant Other<br> Observable Inputs<br> (Level 2) | Significant<br> Unobservable<br> Inputs<br> (Level 3) | Total |
| Derivative liability | $- | $- | $2961379 | $2961379 |
| Total | $- | $- | $2961379 | $2961379 |

---

The following table presents changes of the liabilities with significant unobservable inputs (Level 3) for the year ended December 31, 2025:

---

| | |
|:---|:---|
|  | Derivative<br>Liability |
| Balance December 31, 2024 | $161136 |
| &nbsp;&nbsp;&nbsp;Change in estimated fair value | 2800243 |
| &nbsp;&nbsp;&nbsp;Settlement of derivative liability | - |
| Balance December 31, 2025 | $2961379 |

---

*Derivative Liability*

As of December 31, 2025, the Company has variable rate convertible promissory notes, which contained variable conversion rates based on unknown future prices of the Company's common stock. This resulted in the recognition of a derivative liability as the conversion feature failed the scope exception for derivative accounting due to the variability of its conversion price. The Company measures the derivative liability using the Black-Scholes option valuation model using the following assumptions:

---

| | | |
|:---|:---|:---|
|  | For Years Ending December 31, | For Years Ending December 31, |
|  | 2025 | 2024 |
| Expected term | 1 month – 2 years | 1 month – 1 year |
| Exercise price | 5.00 - $33.50 | 1.50 - $6.50 |
| Expected volatility | 139% - 226% | 126% - 174% |
| Expected dividends |  |  |
| Risk-free interest rate | 4.74% - 5.46% | 5.25% - 6.35% |
| Forfeitures |  |  |

---

The assumptions used in determining fair value represent management's best estimates, but these estimates involve inherent uncertainties and the application of management's judgment. As a result, if factors change, including changes in the market value of the Company's common stock, managements' assessment, or significant fluctuations in the volatility of the trading market for the Company's common stock, the Company's fair value estimates could be materially different in the future.

The Company computes the fair value of the derivative liability at each reporting period and the change in the fair value is recorded as non-cash expense or non-cash income. The key component in the value of the derivative liability is the Company's stock price, which is subject to significant fluctuation and is not under its control, and the assessment of volatility. The resulting effect on net loss is therefore subject to significant fluctuation and will continue to be so until the Company's variable convertible notes, which the convertible feature is associated with, are converted into common stock or paid in full with cash. Assuming all other fair value inputs remain constant, the Company will record non-cash expense when its stock price increases and non-cash income when its stock price decreases.

*Cost Capitalization*

The cost of buildings and improvements includes the purchase price of the property, legal fees, and other acquisition costs. Costs directly related to planning, developing, initial leasing and constructing a property are capitalized and classified as Buildings in the consolidated balance sheets. Capitalized development costs include interest, property taxes, insurance, and other direct project costs incurred during the period of development are also capitalized.

A variety of costs are incurred in the acquisition, development, and leasing of properties. After determination is made to capitalize a cost, it is allocated to the specific component of a project that is benefited. Determination of when a development project is substantially complete, and capitalization must cease involves a degree of judgment. Our capitalization policy on development properties is guided by *ASC 835-20 Interest – Capitalization of Interest* and ASC 970 *Real Estate - General*. The costs of land and buildings under development include specifically identifiable costs. The capitalized costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. We consider a construction project as substantially completed and held available for occupancy or sale upon the receipt of certificates of occupancy, but no later than one year from cessation of major construction activity. We cease capitalization on the portion (1) substantially completed and (2) occupied or held available for occupancy, and we capitalize only those costs associated with the portion under construction.

*Land Held for Sale*

The Company considers properties to be assets held for sale when (1) management commits to a plan to sell the property; (2) the property is available for immediate sale in its present condition and (3) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we record the property's value at the lower of its' carrying value or its estimated net realizable value.

*Land and Buildings*

Land and buildings are stated at cost. Depreciation is provided by the use of the straight-line and accelerated methods for financial and tax reporting purposes, respectively, over the estimated useful lives of the assets. Buildings have an estimated useful life of 20 years. Land is an indefinite live asset that is stated at cost at date of acquisition.

*Construction in progress ("CIP")*

A CIP asset reflects the cost of construction work undertaken, but not yet completed on land not currently owned by the Company. For construction in progress assets, no depreciation is recorded until the asset is placed in service. When construction is completed, the assets should be reclassified as building, building improvement, infrastructure or land improvement and should be capitalized and depreciated. The land is currently owned by companies controlled by our chairman of the board.

*Fixed Assets*

Fixed assets are stated at cost, less accumulated depreciation, and amortization. Depreciation is computed using the double declining balance method over the estimated useful lives of the respective assets:

<u>Classification</u> <u>Life</u> <br> Buildings 20 years <br> Furniture and equipment 5 years

*Revenue Recognition*

The Company determines revenue recognition pursuant to Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers, through the following steps:

&nbsp;&nbsp;&nbsp;&nbsp;■ Identification
 of the contract, or contracts, with a customer.

■ Identification
 of the performance obligations in the agreement(s) for the sale of plots or house construction.

■ Determination
 of the transaction price.

■ Allocation
 of the transaction price to the performance obligation(s) in the contract.

■ Recognition
 of revenue when, or as the Company satisfies a performance obligation.

Revenue is measured based on considerations specified in the agreements with our customers. A contract exists when it becomes a legally enforceable agreement with a customer. The contract is based on either the acceptance of standard terms and conditions as stated in our agreement of plot sales or house construction with customers. These contracts define each party's rights, payment terms and other contractual terms and conditions of the sale. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when or as the customer receives the benefit of the performance obligation. The transaction price is determined based on the consideration which we will expect to receive in exchange for execution of the performance obligation(s).

The Company applies judgment in determining the customer's ability and intention to pay the consideration which the Company is entitled to. A performance obligation is a promise in a contract or agreement to transfer a distinct product or item to the customer. Performance obligations promised in a contract are identified based on the property that will be transferred to the customer that are both capable of being distinct and are distinct in the context of the contract, whereby the transfer of the property is separately identifiable from other promises in the contract. Management considers the retention of title as merely a protective right, which would not disallow revenue recognition for the full consideration to which the Company is entitled upon the execution of a contract for deed.

Currently, upon execution of each contract for deed, the Company has not developed sufficient controls and procedures to provide reasonable assurance that collection of the consideration, which the Company is entitled to, is probable. In addition, the title of the land for the various projects (Bajamar and Divino) is held by an entity that is controlled by the Company's chairman of the board.

The Company's principal activities in the real estate development industry which it generates its revenues from are the sale of developed and undeveloped land and house construction.

Rancho Costa Verde Development or RCVD generates revenue from the following sources: (1) lot sales, (2) home construction calculated as a set percentage of builders' costs, (3) administrative income for loan servicing, (4) interest income resulting from monthly payments from financed loans made to customers on lot sales, (5) resale income as commission for selling homes for owners that have purchased lots at RCVD and (6) utilities revenue from waste water systems and solar systems.

The Company identified the following performance obligations related to the operations of RCVD: (1) subdivision of the developer parcel, (ii) casita free week for each customer allowing them to enjoy a free week to a casita per year. The Company determined that there was a significant financing component in most arrangements with customers, which results in the recognition of interest income.

The Company recognized $2,434,413 and $8,094,940, respectively, of net revenue during the years ended December 31, 2025, and 2024.

*Advertising Costs*

The Company expenses advertising costs when incurred. Advertising costs incurred amounted to $848,140 and $866,607 for the years ended December 31, 2025, and 2024, respectively.

*Debt issuance costs and debt discounts*

Debt issuance costs and debt discounts are being amortized over the lives of the related financings on a straight-line approach, which approximates the effective interest method. Costs and discounts are presented as a reduction of the related debt in the accompanying consolidated balance sheets.

*Stock-Based Compensation*

The fair value of stock options is estimated on the grant date using the Black-Scholes option pricing model, based on weighted average assumptions. Expected volatility is based on historical volatility of our common stock. The Company has elected to use the simplified method described in the Securities and Exchange Commission Staff Accounting Bulletin Topic 14C to estimate the expected term of employee stock options. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant. The value of stock awards is determined using the fair value of the Company's common stock on the date of grant. The Company accounts for forfeitures as they occur. Any compensation cost previously recognized for an unvested award that is forfeited because of a failure to satisfy a service condition is reversed in the period of the forfeiture. Compensation expense is recognized on a straight-line basis over the requisite service period of the award. Stock-based compensation includes the fair value of options, warrants and restricted stocks issued to employees, directors, and non-employees.

*Income Taxes*

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, *Income Taxes*. The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Management makes estimates and judgments about our future taxable income that are based on assumptions that are consistent with our plans and estimates. Should the actual amounts differ from our estimates, the amount of our valuation allowance could be materially impacted. Any adjustment to the deferred tax asset valuation allowance would be recorded in the income statement for the periods in which the adjustment is determined to be required. Management does not believe that it has taken any positions that would require the recording of any additional tax liability, nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year.

*Net Earnings (Loss) Per Share*

The Company computes earnings (loss) per share in accordance with ASC 260 – *Earnings per Share*. ASC 260 requires presentation of both basic and diluted earnings per share ("EPS") on the face of the consolidated statements of operations. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible notes payable using the if-converted method. Diluted EPS excludes all dilutive potential shares if their effect is antidilutive. During periods of net loss, all common stock equivalents are excluded from the diluted EPS calculation because they are antidilutive.

Securities that are excluded from the calculation of weighted average dilutive common shares, because their inclusion would have been antidilutive are:

---

| | | |
|:---|:---|:---|
|  | **For the year<br> ended<br> December 31,<br> 2025** | **For the year<br> ended<br> December 31,<br> 2024** |
| Options | 60000 |  |
| Warrants | 911819 | 762150 |
| Total potentially dilutive shares | 971819 | 762150 |

---

*Concentration of Credit Risk*

The Company maintains its cash in bank and financial institution deposits that at times may exceed federally insured limits. The Company has not experienced any losses in such accounts through December 31, 2025.

*Impairment of Long-lived Assets*

The Company reviews its long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying amount of assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. If impairment is indicated, the asset is written down to its estimated fair value. The Company fully impaired its long-lived assets due to the uncertainty in title transfer of the land not currently owned by the Company and the estimated fair value of its construction in progress during both years ended December 31, 2025 and 2024.

*Accounts Receivable*

The Company uses the specific identification method for recording the provision for doubtful accounts, which was $887,662 and $0, at December 31, 2025 and 2024, respectively. Account receivables are written off when all collection attempts have failed.

*Convertible Promissory Note*

The Company accounts for convertible promissory notes in accordance with ASC 470-20, Debt with Conversion and Other Options. The Company evaluates embedded conversion features within convertible debt to determine whether the embedded conversion feature should be bifurcated from the host instrument and accounted for as a derivative at fair value with changes in fair value recorded in the Income Statement. If the conversion feature does not require recognition of a bifurcated derivative, the convertible debt instrument is evaluated for consideration of any beneficial conversion feature ("BCF") requiring separate recognition. When the Company records a BCF, the intrinsic value of the BCF is recorded as a debt discount against the face amount of the respective debt instrument with an offset to additional paid-in capital and amortized to interest expense over the life of the debt using the effective interest method.

**NOTE 3 – LAND, BUILDING, NET AND CONSTRUCTION IN PROCESS**

Land, buildings, net and construction in process as of December 31, 2025, and 2024:

---

| | | | |
|:---|:---|:---|:---|
|  | **Useful life** | **December 31,**<br> **2025** | **December 31,**<br> **2024** |
| Land – Emerald Grove |  | $203419 | $203419 |
| Land – Rancho Costa Verde Development |  | $17459238 | $15573107 |
| Furniture & equipment, net | 5 years | $- | $- |
| Building – Emerald Grove | 20 years | 2648378 | 2674471 |
| Less: Accumulated depreciation |  | (1032261) | (844127) |
| Building, net |  | $1616117 | $1833021 |

---

Depreciation expense was approximately $163,545 and $87,250, for the years ended December 31, 2025, and 2024, respectively.

***Valle Divino***

The Valle Divino is the Company's premier wine country development project in Ensenada, Baja California. This land project consists of 20 acres to be acquired from Baja Residents Club, a Company controlled by our chairman of the board and developed into Valle Divino resort. The acquisition of title to the land for this project is subject to approval from the Mexican government in Baja, California. The Company broke ground of the Valle Divino development in July 2020 and has commenced site preparation for two model homes including a 1-bedroom and 2- bedroom option. The first Phase of the development includes 187 homes. This development will also have innovative microgrid solutions by our partner to power the model home and amenities.

The construction contractor is also an entity controlled by our chairman of the board. Construction began during the year ended December 31, 2020. The balance of construction in process for Valle Divino was $0 as of December 31, 2025 and 2024. The Company fully impaired the accumulated costs related to its Valle Divino project due to the uncertainty pertaining to the title transfer for a total amount of $457,275 during a previous reporting period.

***Plaza Bajamar***

The Plaza Bajamar community is an 80-unit development located within the internationally renowned Bajamar Ocean Front Hotel and Golf Resort. The Bajamar Ocean Front Golf Resort is an expertly planned, well-guarded, and gated wine and golf community located 45 minutes South of the San Diego-Tijuana Border along the scenic toll road to Ensenada on the Pacific Ocean.

Phase I will include 22 "Merlot" 1,150 square-foot single-family homes that feature two bedrooms and two baths. The home includes two primary bedroom suites – one on the first floor and one upstairs, as well as fairway and ocean views from a rooftop terrace. The Merlot villas will come with the installation of solar packages construction in mind. Planned amenities include a pool, wellness and fitness center and available office space.

The Company has not yet taken title to this property, which is currently owned by Valdeland, S.A. de C.V. ("Valdeland"), an entity controlled and 100% owned by Roberto Valdes, the Company's chairman of the board. In September 2019, the Company executed a land purchase agreement with Valdeland, under which the Company is to acquire the Plaza Bajamar property from Valdeland, free of liens and encumbrances for a total consideration of $1,000,000.

In November and December 2019, $250,000 was paid to the Company's chairman of the board, Roberto Valdes, of which $150,000 was used for the construction of two model Villas at our planned Plaza Bajamar development and $100,000 as a down payment towards the acquisition of the land from Valdeland. As of December 31, 2025 and 2024, the Company has issued 5,000 shares of the Company's common stock for total amount of $150,000 reported under Prepaid and other current assets in the consolidated balance sheets towards the purchase of the land. The balance was fully impaired in a previous reporting period.

Valdeland has completed a two-bedroom model home, an enhanced entrance, and interior roads as well as site preparation for four (4) new homes adjacent to the model home. It has commenced construction on four residential lots following the payment of the required minimum deposits from buyers.

The Company funded the construction by an additional $179,700 during the year ended December 31, 2023. Valdeland is the construction contractor and is also an entity controlled and owned by Roberto Valdes.

The balance of construction in process for Plaza Bajamar totaled $0 as of December 31, 2025 and 2024. The Company fully impaired the accumulated costs related to Plaza Bajamar in a previous reporting period, due to the uncertainty pertaining to title transfer for a total amount of $179,700.

Within the "restricted zone," a foreigner can purchase the beneficial interest in real property through a bank trust or "fideicomiso." Indeed, a bank trust must be used when acquiring property within the restricted zone. In this bank trust, the buyer of the property is designated as the "fideicomisario" or the beneficiary of the trust. While legal title is held by the bank, (specifically the trustee of the trust or the "fiduciario,") the trustee must administer the property in accordance with the instructions of the buyer (the beneficiary of the trust). The property is not an asset of the bank, and the trustee is obligated to follow every lawful instruction given by the beneficiary to perform legal action. The Company has not yet established the bank trust, which is anticipated to occur before the end of the fiscal year 2026.

As of December 31, 2025, Valdeland sold six (6) house constructions on residential lots for an estimated price of $1.5 million, of which $0.5 million has been paid and collected by the Company and initially presented under contract liability in the consolidated balance sheets. However, the Company offset the balance of construction in process with the contract liability with the net balance written off due to the uncertainty pertaining to the transfer of title.

***Rancho Costa Verde Development ("RCVD")***

RCVD is a 1,000 acre, 1,200 lot master planned community in Baja, California, located few miles from the Company's Oasis Park resort on the sea of Cortez. To date, RCVD has sold over 1,000 residential lots and built 55 single-family homes with approximately 30 under construction. This is in addition to a completed boutique hotel and clubhouse.

On December 16, 2025, the Company closed on the acquisition of 300 acres of land and structures located adjacent to the Company's Rancho Costa Verde development for a total consideration of $1.65 million. This purchase is subdivided into 7 parcels and consists of approximately 300 residential homesites, 12 existing tiny homes, and 2 completed homes.

**NOTE 4 – RELATED PARTY TRANSACTIONS**

***Chief Executive Officer – Frank Ingrande***

In May 2021, the Company executed an employment agreement with Frank Ingrande.

The Company has not paid any salary to Frank Ingrande for the years ended December 31, 2025 and 2024. The Company has accrued $326,192 of compensation costs in relation to the employment agreement for the year ended December 31, 2025. The balance owed is $393,038 and $66,846 as of December 31, 2025 and 2024, respectively.

Frank Ingrande was the co-founder and owner of 33% of the Company's equity-method investee RCVD. During the year ended December 31, 2023, the Company acquired the remaining 75% interest in RCVD, which became the Company's wholly owned subsidiary as of January 2023.

On December 1, 2022, the Company issued 9,317 stock options under the 2022 Plan with a strike price of $10.00, vesting 25% on grant date and the remaining 75% monthly over a twelve-month period from grant date with an estimated fair value of approximately $90,188. The Company recognized approximately $16,900 of stock-based compensation related to these stock options during the year ended December 31, 2024. These shares have expired as of December 31, 2025.

***Chief Financial Officer – Jason Sunstein***

Effective January 1, 2020, the Company executed an employment agreement with Jason Sunstein.

The Company has not paid any salary to Jason Sunstein for the years ended December 31, 2025 and 2024. The Company has accrued $326,192 of compensation costs in relation to the employment agreement for the year ended December 31, 2025. The balance owed is $393,038 and $66,846 as of December 31, 2025 and 2024, respectively.

On December 1, 2022, the Company issued 9,317 stock options under the 2022 Plan with a strike price of $10.00, vesting 25% on grant date and the remaining 75% monthly over a twelve-month period from grant date with an estimated fair value of approximately $90,188. The Company recognized approximately $16,900 of stock-based compensation related to these stock options during the year ended December 31, 2024. These shares have expired as of December 31, 2025.

Jason Sunstein is also the managing member of Six Twenty Management LLC, an entity that has been providing ongoing capital support to the Company.

Jason Sunstein also facilitated the Emerald Grove asset purchase.

***Chairman of the Board – Roberto Valdes***

Effective January 1, 2020, the Company executed an employment agreement with Roberto Valdes.

The Company has not paid any salary to Roberto Valdes for the years ended December 31, 2025 and 2024. The Company has accrued $326,192 of compensation costs in relation to the employment agreement for the year ended December 31, 2025. The balance owed is $393,038 and $66,846 as of December 31, 2025 and 2024, respectively.

As of December 31, 2025, the Company has funded an aggregate amount of 1.4 million for construction on residential lots, projects amenities and towards the acquisition of land to companies controlled by Roberto Valdes. The land for the Plaza Bajamar and Valle Divino is currently owned by two entities controlled by Roberto Valdes (Valdeland S.A de C.V. and Valdetierra S.A de C.V) and all parties executed a land purchase agreement for each project to transfer title of the land to a bank trust or "fideicomiso", in which the Company will be named the beneficiary of the trust ("fideicomisario").

The Company has funded an aggregate amount of approximately $251,000 to the construction companies owned by Roberto Valdes for the two projects in Ensenada, Baja California. The Company has not yet established the bank trust, which is anticipated to occur before the end of the fiscal year 2025. The properties at Valle Divino and Plaza Bajamar have executed promise to purchase agreements between the Company and Roberto Valdes, which require the transfer of titles of the land free of liens and encumbrances to the Company. There can be no assurance as to what and if any profit might have been received by Roberto Valdes, in his separate company as a result of these transactions.

On December 1, 2022, the Company issued 9,317 stock options under the 2022 Plan with a strike price of $10.00, vesting 25% on grant date and the remaining 75% monthly over a twelve-month period from grant date with an estimated fair value of approximately $90,188. The Company recognized approximately $16,900 of stock-based compensation related to these stock options during the year ended December 31, 2024. These shares have expired as of December 31, 2025.

***International Real Estate Development, LLC. ("IRED")***

Frank Ingrande was an owner of 33% of IRED at the time of the 25% initial investment in RCVD in May 2021 and subsequent to this transaction became a shareholder and President of the Company. On January 3, 2023, the remaining 75% interest was acquired by the Company and as of December 31, 2023 and 2024, Mr. Ingrande was still the President of the Company and a 33% owner in IRED. As such, any transactions with IRED are deemed to be related party transactions.

On January 1, 2023, the Company issued a convertible promissory note pursuant to the acquisition of RCVD for a total principal of $8,900,000, carrying a 5% coupon and maturing on September 30, 2024. The convertible note was payable in quarterly installment of $2,225,000 starting on March 31, 2023. The convertible note includes a twelve percent (12%) default interest rate. Although, this convertible promissory note payable is part of the consideration to the business combination in stages which is not deemed a related party transaction, the convertible promissory note payable is with a related party and deemed a related party convertible promissory note payable. During the year ended December 31, 2024, the Company converted the entire principal and interest balance of the promissory note into 89,000 Series A Preferred Shares.

***Lisa Landau***

Lisa Landau is the sister of Company CFO, Jason Sunstein, and she is also a shareholder who assists with some of the Company's accounting function. From time to time, Ms. Landau has either paid certain costs on the Company's behalf or provided funding to the Company to bridge the gap in our capital needs until another debt or equity funding can be closed. As of present the amounts due to Ms. Landau are approximately $590,000 as of December 31, 2025. We plan to reimburse Ms. Landau in 2026 as our major capital infusions take place in 2026.

***R-MAC Properties, Inc. ("R-MAC")***

R-MAC is an international and domestic real estate sales and marketing firm that specializes in selling vacation homes in Baja, California. R-MAC is owned by Michael A. Cresci and Robert Rios, who are beneficial owners and Vice Presidents of the Company. R-MAC provided marketing and sales support services to the Company, which amounted to $822,940 and $938,940 during the years ended December 31, 2025 and 2024, respectively. Such costs are contained in marketing and sales commission expenses in the accompanying consolidated statements of operation.

**NOTE 5 – PROMISSORY NOTES**

Promissory notes consisted of the following at December 31, 2025, and 2024:

---

| | | |
|:---|:---|:---|
|  | December 31, 2025 | December 31, 2024 |
| Cash Call note payable, due January 31, 2026 | $24785 | $24785 |
| Elder note payable, 10% interest, due January 31, 2026 | 1500 | 1500 |
| Elder note Payable, 15% interest, due January 31, 2026 | 76477 | 76477 |
| Griffith note Payable, 15% interest, due January 31, 2026 | 250000 | 250000 |
| Banker note Payable, 15% interest, due January 31, 2026 | 23270 | 42500 |
| Robles note Payable, 10% interest, due January 31, 2026 | 37500 | 37500 |
| Kitchner note payable, 15% interest, due January 2026 | 100000 | - |
| Total Notes Payable | $513532 | $432762 |
| Less discounts | - | - |
| Total Promissory notes, net of discount | 513532 | 432762 |
| Less current portion | (513532) | (432762) |
| Total Promissory notes, net of discount - long term | $- | $- |

---

*Cash Call, Inc.*

On March 19, 2018, the Company issued a promissory note to CashCall, Inc. for $75,000 of cash consideration. The note bears interest at 94%. The Company also recorded a $7,500 debt discount due to origination fees due at the beginning of the note, which was fully amortized as of December 31, 2023. There was no activity during the years ended December 31, 2025 and 2024.

On August 2, 2022, the Company and Cash Call settled for an aggregate principal of $23,641 payable in one lump sum or a series of 9 installments of $3,152. No payment was made under this settlement agreement during the years ended December 31, 2025 and 2024, respectively.

As of December 31, 2025 and 2024, the remaining principal balance was $24,785, respectively. The Company has not incurred any interest expense related to this promissory note during the year ended December 31, 2025 due to the agreed upon settlement amount.

*Christopher Elder*

On December 15, 2020, the Company entered into a promissory note pursuant to which the Company borrowed $126,477. Interest under the promissory note in default is 18%, and the principal and all accrued but unpaid interest is due upon maturity.

There was no activity during the years ended December 31, 2025 and 2024, respectively. The remaining principal balance was $76,477 as of both years ended December 31, 2025 and 2024.

The Company incurred approximately $11,472 of interest during the years ended December 31, 2025 and 2024, respectively. Accrued interest was $57,915 and $46,443 as of December 31, 2025 and 2024, respectively.

*Bobbie Allen Griffith*

On September 5, 2023, the Company entered into a promissory note pursuant to which the Company borrowed $215,000. Interest under the promissory note is 15% per annum, and the principal and all accrued but unpaid interest is due upon maturity.

The Company repaid the note in full during the year ended December 31, 2023. During the year ended December 31, 2024, the Company was advanced another $250,000, with interest on the new borrowing at 20% per annum. As of both December 31, 2025 and 2024, the remaining principal balance was $250,000.

The Company incurred approximately $82,250 and $50,000 of interest during the years ended December 31, 2025 and 2024, respectively. Accrued interest was $132,250 and $82,250 as of December 31, 2025 and 2024, respectively.

*George Banker*

On August 11, 2023, the Company entered into a promissory note pursuant to which the Company borrowed $150,000. Interest under the promissory note is 15% per annum, and the principal and all accrued but unpaid interest was due on October 11, 2023. The note is in technical default as it is past maturity date and the Company failed to repay the outstanding principal and accrued interest.

The Company incurred approximately $21,000 and $22,500 of interest during the years ended December 31, 2025 and 2024, respectively. Accrued interest was approximately $66,000 and $45,000 as of December 31, 2025 and 2024, respectively. As of December 31, 2025 and 2024, the remaining principal balance was $23,270 and $42,500, respectively.

The Company initially recognized a debt discount and stock payable on this note of $5,769 as of December 31, 2023. The Company incurred amortization expense of debt discount on the note of $5,769 during the year ended December 31, 2023.

*George Robles*

On September 1, 2023, the Company entered into a promissory note pursuant to which the Company borrowed $100,000. Interest under the promissory note is 5% per month with a default rate of 10% per month, and the principal and all accrued but unpaid interest was due upon maturity.

The Company incurred approximately $3,750 and $7,500 of interest during the years ended December 31, 2025 and 2024, respectively. Accrued interest was $18,750 and $15,000 as of December 31, 2025 and 2024, respectively. As of December 31, 2025 and 2024, the remaining principal balance was $37,500.

The Company initially recognized a debt discount and stock payable on this note of $5,393 as of December 31, 2023. The Company incurred amortization expense of debt discount on the note of $5,393 during the year ended December 31, 2023.

*John Kitchner*

On January 31, 2025, the Company entered into a promissory note pursuant to which the Company borrowed $100,000. Interest under the promissory note is 15% with a three-month maturity term. The note was due on May 1, 2025, and carried an effective interest rate of 60% per annum.

The Company incurred approximately $78,000 of interest expense during the year ended December 31, 2025. Accrued interest was $78,000 as of December 31, 2025. As of December 31, 2025, the remaining principal balance was $100,000.

**NOTE 6 – CONVERTIBLE NOTES**

Convertible notes consisted of the following at December 31, 2025 and 2024:

SCHEDULE OF CONVERTIBLE NOTES

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| | | |
|:---|:---|:---|
|  | December 31, 2025 | December 31, 2024 |
| Mast Hill convertible note, 16% interest, due December 2025 |  | 250000 |
| Blue Lake convertible note, 16% interest, due December 2025 |  | 250000 |
| Quick Capital note #1, 12% interest, due December 2025 |  |  |
| Quick Capital note #2, 12% interest, due April 2026 | 155556 |  |
| Quick Capital note #3, 12% interest, due May 2026 | 31111 |  |
| Lendspark Corporation note, due March 2026 | 111110 |  |
| Vista Capital note #1, 12% interest, due March 2026 |  |  |
| Vista Capital note #2, 12% interest, due September 2026 | 110000 |  |
| Auctus Fund note, 12% interest, due August 2026 | 250000 |  |
| CFI Capital note, 6% interest, due September 2026 | 150000 |  |
| Jefferson Street note, 10% interest, due September 2026 | 137500 |  |
| Crom Structured Fund note, 10% interest, due September 2026 | 137500 |  |
| Mast convertible note, Tranche 1, due November 2026 | 3573333 |  |
| Mast convertible note, Emerald Grove, due December 2026 | 2752509 | 2780000 |
| Cobra convertible note, 20% interest, due January 2026 | 75000 | 125000 |
| Total convertible notes | $7483619 | $3405000 |
| Less discounts | (801694) | (303000) |
| Total convertible notes, net of discount | 6681925 | 3102000 |
| Less current portion | (6681925) | (600000) |
| Total convertible notes, net of discount - long term | $- | $2502000 |

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***Mast Hill Fund, L.P ("Mast note")***

On March 23, 2022, the Company issued a convertible promissory note pursuant to which it borrowed gross proceeds of $250,000 for net proceeds of $211,250, net of issuance costs of $13,750 and original issuance discount of $25,000. The interest rate under the convertible promissory note in default is 16%, and the principal and all accrued but unpaid interest are due on March 23, 2023 but have been extended until the third quarter of 2025. The note requires eight (8) mandatory monthly installments of $35,000 starting in July 2022.

Additionally, as an incentive to the note holder, the securities purchase agreement also provided for the issuance of 4,500 shares of common stock with fair value of approximately $101,000, which were fully earned at issuance, and 6,875 warrants to purchase an equivalent number of shares of common stock at an exercise price of $40.00 and a term of five years. The note is convertible upon an event of default at the noteholder's option into shares of our common stock at a fixed conversion price of $17.50, subject to standard anti-dilutive rights and down round protection. The conversion price of the convertible debt and the strike price of the warrants should be adjusted to the new effective conversion price following subsequent dilutive issuances.

The Company initially recognized $219,832 of debt discount resulting from the original issue discount, the deferred financing costs, the fair value assigned to the commitment shares and the warrants. The balance of the unamortized debt discount was $0 as of both December 31, 2025 and 2024.

During the year ended December 31, 2023, the Company converted approximately $133,096 of interest and premium into 33,297 shares of common stock.

During the year ended December 31, 2025, the Company converted the entire remaining principal owed to Mast Hill Fund, plus default interest in the amount of $26,307, into 63,293 common shares of the Company's stock using the conversion price of $3.00. The difference between the conversion price and the Company's fair value of common stock at the time of conversion was recorded as a loss on settlement of debt in the accompanying consolidated statements of operations for the year ended December 31, 2025. The principal balance owed to Mast Hill Fund was $- and $250,000 as of December 31, 2025 and 2024, respectively.

***Blue Lake Partners LLC ("Blue Lake note")***

On March 28, 2022, the Company issued a convertible promissory note pursuant to which it borrowed gross proceeds of $250,000 for net proceeds of $211,250, net of issuance costs of $13,750 and original issuance discount of $25,000. The interest rate under the convertible promissory note in default is 16%, and the principal and all accrued but unpaid interest were due on March 28, 2023. The note requires eight (8) mandatory monthly installments of $35,000 starting in July 2022. Additionally, as an incentive to the note holder, the securities purchase agreement provided for the issuance of 4,500 shares of common stock with fair value of approximately $101,000, which were fully earned at issuance, and 6,875 warrants for the purchase of an equivalent number of shares of common stock at an exercise price of $40.00 and a term of five years.

The note is convertible upon an event of default at the noteholder's option into shares of our common stock at a fixed conversion price of $17.50, subject to standard anti-dilutive rights and down round provisions. With the issuance of a variable rate transaction with any new investor, the conversion price of the convertible debt and the strike price of the warrants should be adjusted down to the new effective conversion price.

The Company initially recognized $219,607 of debt discount resulting from the original issue discount, the deferred financing costs, the fair value assigned to the commitment shares and the warrants. The balance of the unamortized debt discount was $0 as of both December 31, 2025 and 2024.

During the year ended December 31, 2025, the Company converted the entire remaining principal owed to Blue Lake, plus accrued interest for a total amount of $175,809, into 50,231 common shares of the Company's stock using the conversion price of $3.50. The difference between the conversion price and the Company's fair value of common stock at the time of conversion was recorded as a loss on settlement of debt in the accompanying consolidated statements of operations for the year ended December 31, 2025. The principal balance owed on the Blue Lake note was $- and $250,000 as of December 31, 2025 and 2024, respectively.

***Mast Emerald Grove convertible note payable ("Mast Emerald Grove note")***

In December 2024, the Company issued a convertible promissory note pursuant to which it borrowed gross proceeds of $3,127,500 for net proceeds of $2,502,000, net of issuance costs of $625,500. Interest under the convertible promissory note is 12% per year and a default coupon of 16%.

The maturity date of the note is December 17, 2026. At any time after issuance, the note is convertible into shares of our common stock at the greater of a fixed conversion rate or discount to the market price.

The Company initially recognized $625,500 of debt discount resulting from the original issue discount and the deferred financing costs. The Company amortized $329,114 and $0 through interest expenses during the years ended December 31, 2025 and 2024, respectively. The balance of the unamortized debt discount was $296,386 and $625,500 as of December 31, 2025 and 2024, respectively.

During the year ended December 31, 2025, the Company converted $703,907 into 127,983 common shares of the Company's stock using a conversion price of $5.50. The converted debt amount consisted of $373,241 of note balance principal, $328,916 of accrued interest and $1,750 in legal fees. The difference between the conversion price and the Company's fair value of common stock at the time of conversion was recorded as a loss on settlement of debt in the accompanying consolidated statements of operations for the year ended December 31, 2025. The principal balance owed on the Mast Emerald Grove note was $2,456,123 and $2,502,000 as of December 31, 2025 and 2024, respectively.

 ****

***Mast Hill LP Convertible Note – Tranche 1 ("Mast Tranche 1")***

In November 2025, the Company issued a convertible promissory note, Tranche 1, pursuant to which it borrowed gross proceeds of $3,573,333 for net proceeds of $3,051,000, net of issuance costs of $522,333. Interest under the convertible promissory note is 12% per year and a default coupon of 16%.

The maturity date of the note is November 17, 2026. At any time after issuance, the note is convertible into shares of our common stock at the greater of a fixed conversion rate or discount to the market price.

The Company initially recognized $522,333 of debt discount resulting from the original issue discount and the deferred financing costs. The Company amortized $94,344 through interest expenses during the year ended December 31, 2025. The balance of the unamortized debt discount was $427,989 as of December 31, 2025.

***Cobra ("Cobra convertible note")***

In August 2024, the Company issued a convertible promissory note pursuant to which it borrowed gross proceeds of $125,000 for net proceeds of $100,000, net of issuance costs of $25,000.

The original maturity date of the note was February 28, 2025, but the Company has been cooperating with the lender to make progress payments and avoid additional default terms. At any time after default, the note is convertible into shares of our common stock at a conversion rate with a discount to the market price.

The Company initially recognized $25,000 of debt discount resulting from the original issue discount and the deferred financing costs. The Company amortized $25,000 through interest expenses during the year ended December 31, 2025. The balance of the unamortized debt discount was $0 and $25,000 as of December 31, 2025 and 2024, respectively.

The balance of the Cobra convertible note was $75,000 and $100,000 as of December 31, 2025 and 2024, respectively.

***Quick Capital, LLC ("Quick Capital Notes")***

 ****

On March 13, 2025, July 16, 2025, and August 18, 2025, the Company issued to Quick Capital LLC ("Quick Capital"), a Wyoming limited liability company, convertible promissory notes for the principal amounts of a $250,000, $155,555.56 and $31,111.11, respectively, for an aggregate principal amount of $436,666.67 (each a "Note" and collectively the "Notes"). Each Note was issued pursuant to a Note Purchase Agreement dated therewith. The Company received an aggregate of $347,100 gross proceeds from the sale of the Notes, after deductions for original issue discounts from 10% to 20%, broker fees of $8,400, and lender legal fees from $2,500 to $5,000.

The principal amount of the Notes (together with accrued interest) mature nine (9) months from issuance. The Notes bear a guaranteed interest at a rate of 12%. Upon an event of a default under a Note (as more fully described in the Notes), the Notes shall accrue interest at annual rate of the lesser of 24% or maximum rate allowed by law. The Note issued in March (Quick Capital Note 1) is due on December 13, 2025, and has total aggregate repayments due of $280,000. The Note issued in July (Quick Capital Note 2) is due on April 16, 2026, and has total aggregate repayments due of $174,222. The Note issued in August (Quick Capital Note 3) is due on May 18, 2026, and has total aggregate repayments due of $34,844.

The Notes are convertible at the holder's option at any time after 180 days from issuance or upon event of default, into shares of the Company's Common Stock at a conversion price equal to $5.50 per share, or in the case of event of default, at a price equal to the lower of $5.50 or 65% of the lowest trading price for the proceeding 20 days prior to conversion. Additionally, as an incentive to Quick Capital, the Notes contain securities purchase agreements which provided for the issuance of 9,900 shares of common stock with a fair value of approximately $83,000, which were fully earned at issuance, and 33,333 warrants for the purchase of an equivalent number of shares of common stock at an exercise price of $7.50 and a term of five years.

During October and November 2025, the Company converted the entire principal and accrued interest balance on Quick Capital Note 1 for a total amount of $176,658, into 40,484 common shares of the Company's stock using the conversion prices of $4.75 and $4.25. The difference between the conversion price and the Company's fair value of common stock at the time of conversion was recorded as a loss on settlement of debt in the accompanying consolidated statements of operations for the year ended December 31, 2025.

The balance owed to Quick Capital on Note 2 and Note 3 was $175,576 as of December 31, 2025.

The Company initially recognized $89,567 of debt discount resulting from the original issue discounts, the deferred financing costs, and the fair value assigned to the commitment shares and the warrants. The balance of the unamortized debt discount on the outstanding Notes was $11,100 as of December 31, 2025.

***Lendspark Corporation ("Lendspark Note")***

 ****

On June 10, 2025, the Company issued Lendspark a convertible promissory note pursuant to which it borrowed gross proceeds of $140,000 for net proceeds of $100,000, net of issuance costs of $40,000. The principal amount of the Lendspark Note (together with the amortized discount of $40,000) is due nine (9) months from issuance. Upon an event of a default (as more fully described in the Lendspark Note), the outstanding balance shall immediately increase to 125% of the outstanding balance immediately prior to the occurrence of the event of default and default interest of 18% of the outstanding balance per annum shall accrue. If there is no event of default, the Lendspark Note shall not be charged interest, other than the $40,000 original issue discount. The Lendspark Note requires thirty-six (36) weekly payments of $3,889 starting in June 2025.

The Lendspark Note is convertible at the holder's option at any time after the issue date, into shares of the Company's Common Stock at a conversion price equal to $5.00 per share.

The Company initially recognized $40,000 of debt discount resulting from the original issue discount. The Company amortized $28,000 through interest expenses during the year ended December 31, 2025. The balance of the unamortized debt discount was $12,000 as of December 31, 2025. Interest expense charged to the Lendspark Note, including the amortization of discount amounted to $63,114 during the year ended December 31, 2025.

The balance of the Lendspark Note was $100,891 as of December 31, 2025.

On June 12, 2025, the Company entered into a Consulting Agreement with Lendspark, in order for Lendspark to provide consulting related to the development, financing and operations of the Company's business. The arrangement is an equity compensation agreement, where the Company shall pay Lendspark in common stock, where the amounts of shares issued is calculated as $35,000 divided by the average of the ten (10) lowest closing prices of the ILAL Common Stock of the trading days during the applicable payment period.

***Vista Capital Investments, LLC ("Vista Capital Notes")***

 ****

*Vista Capital Note #1*

 ****

On March 11, 2025, the Company issued Vista Capital a convertible promissory note, pursuant to which it borrowed gross proceeds of $110,000 for net proceeds of $94,000, net of issuance costs of $16,000. The note contains a one-time interest charge of 12%, due at maturity. The principal amount of the note, together with the interest is due twelve (12) months from issuance. Upon an event of a default (as more fully described in the Vista Capital Note #1), the outstanding balance shall immediately increase to 125% of the outstanding balance immediately prior to the occurrence of the event of default

The note is convertible at the holder's option at any time after the issue date, into shares of the Company's Common Stock at a conversion price equal to $17.50 per share. Additionally, as an incentive to the holder, the note contains a securities purchase agreement which provided for the issuance of 3,056 warrants for the purchase of an equivalent number of shares of common stock at an exercise price of $40.00 and a term of five years.

During the fourth quarter of 2025, the Company converted the entire principal and accrued interest balance on Vista Capital Note 1 for a total amount of $123,200, into 24,640 common shares of the Company's stock using the conversion price of $5.00. The difference between the conversion price and the Company's fair value of common stock at the time of conversion was recorded as a loss on settlement of debt in the accompanying consolidated statements of operations for the year ended December 31, 2025.

The Company initially recognized $16,000 of debt discount resulting from the original issue discount and deferred financing costs, which was fully amortized through interest expenses during the year ended December 31, 2025.

Interest expenses, including the amortization of discount amounted to $29,200 during the year ended December 31, 2025.

*Vista Capital Note #2*

 ****

On September 12, 2025, the Company issued Vista Capital a convertible promissory note, pursuant to which it borrowed gross proceeds of $110,000 for net proceeds of $94,000, net of issuance costs of $16,000. The note contains a one-time interest charge of 12% due at maturity. The principal amount of the note, together with the interest is due twelve (12) months from issuance. Upon an event of a default (as more fully described in the Vista Capital Note #2), the outstanding balance shall immediately increase to 125% of the outstanding balance immediately prior to the occurrence of the event of default and default interest of 18% of the outstanding balance per annum shall accrue.

The note is convertible at the holder's option at any time after the issue date, into shares of the Company's Common Stock at a conversion price equal to $5.00 per share. Additionally, as an incentive to the holder, the note contains a securities purchase agreement which provided for the issuance of 3,000 warrants for the purchase of an equivalent number of shares of common stock at an exercise price of $50.00 and a term of five years.

The Company initially recognized $16,000 of debt discount resulting from the original issue discount and deferred financing costs. The Company amortized $4,000 through interest expenses during the year ended December 31, 2025. The balance of the unamortized debt discount was $12,000 as of December 31, 2025. Interest expenses, including the amortization of discount amounted to $17,200 during the year ended December 31, 2025.

The balance of the Vista Capital Note #2 was $98,000 as of December 31, 2025.

 **

***Auctus Fund, LLC ("Auctus Note")***

 **

On August 6, 2025, the Company issued a promissory note with a convertible feature to Auctus Fund, pursuant to which it borrowed gross proceeds of $250,000 for net proceeds of $241,000, net of issuance costs for legal and management fees of $9,000. Interest under the Auctus Note is 12% per year and the principal amount of the note (together with accrued interest) is due twelve (12) months from issuance. Upon an event of a default (as more fully described in the Auctus Note), the Auctus Note shall accrue interest at annual rate of the lesser of 22% or maximum rate allowed by law.

The Auctus Note is convertible at the holder's option at any time after 90 days from issuance, into shares of the Company's Common Stock at a conversion price equal to $5.00 per share, or at 75% of the volume-weighted average price during the five trading days immediately preceding the conversion date. Additionally, as an incentive to the holder, the Auctus Note contains a securities purchase agreement which provided for the issuance of 10,000 warrants for the purchase of an equivalent number of shares of common stock at an exercise price of $12.50 and a term of five years.

The Company initially recognized $9,000 of debt discount resulting from the deferred financing and legal costs. The Company amortized $4,000 through interest expenses during the year ended December 31, 2025. The balance of the unamortized debt discount was $5,000 as of December 31, 2025. Interest expenses, including the amortization of discount amounted to $16,000 during the year ended December 31, 2025.

The balance of the Auctus Note was $245,000 as of December 31, 2025.

***CFI Capital LLC ("CFI Capital Note")***

 ****

On September 18, 2025, the Company issued CFI Capital a convertible redeemable note pursuant to which it borrowed gross proceeds of $150,000 for net proceeds of $130,000, net of issuance costs of $20,000. Interest under the convertible note is 6% per year and the principal amount of the note (together with accrued interest) is due twelve (12) months from issuance, on September 18, 2026. The note is convertible at the holder's option at any time after 180 days from issuance or upon event of default, into shares of the Company's Common Stock at a conversion price equal to 60% of the lowest trading price for the proceeding 20 days prior to conversion.

The Company initially recognized $20,000 of debt discount resulting from the original issue discount and the deferred financing costs. The Company amortized $7,000 through interest expenses during the year ended December 31, 2025. The balance of the unamortized debt discount was $13,000 as of December 31, 2025. Interest expenses, including the amortization of discount amounted to $9,700 during the year ended December 31, 2025.

The balance of the CFI Capital Note was $137,000 as of December 31, 2025.

***Jefferson Street Capital, LLC ("Jefferson Note")***

 ****

On September 24, 2025, the Company issued a promissory note with a convertible feature, pursuant to which it borrowed gross proceeds of $137,500 for net proceeds of $120,000, net of issue discount and legal fees of $17,500. Interest under the Jefferson Note is 10% per year and the principal amount of the note (together with accrued interest) is due twelve (12) months from issuance, on September 24, 2026. Upon an event of a default (as more fully described in the Jefferson Note), the Jefferson Note shall accrue interest at annual rate of the lesser of 18% or maximum rate allowed by law.

The Jefferson Note is convertible at the holder's option at any time after the issue date, into shares of the Company's Common Stock at a conversion price equal to $7.50 per share, or at 75% of the lowest trading price for the proceeding 15 days prior to conversion. Additionally, as an incentive to the holder, the Jefferson Note contains a securities purchase agreement which provided for the issuance of 9,167 warrants for the purchase of an equivalent number of shares of common stock at an exercise price of $15.00 and a term of five years.

The Company initially recognized $17,500 of debt discount resulting from the original issue discount and the deferred financing costs. The Company amortized $4,500 through interest expenses during the year ended December 31, 2025. The balance of the unamortized debt discount was $13,000 as of December 31, 2025. Interest expenses, including the amortization of discount amounted to $18,250 during the year ended December 31, 2025.

The balance of the Jefferson Note was $124,500 as of December 31, 2025.

***Crom Structured Opportunities Fund I, LP ("Crom Note")***

 ****

On September 24, 2025, the Company issued a promissory note with a convertible feature, pursuant to which it borrowed gross proceeds of $137,500 for net proceeds of $120,000, net of issue discount and legal fees of $17,500. Interest under the Crom Note is 10% per year and the principal amount of the note (together with accrued interest) is due twelve (12) months from issuance, on September 24, 2026. Upon an event of a default (as more fully described in the Crom Note), the Crom Note shall accrue interest at annual rate of the lesser of 18% or maximum rate allowed by law.

The Crom Note is convertible at the holder's option at any time after the issue date, into shares of the Company's Common Stock at a conversion price equal to $7.50 per share, or at 75% of the lowest trading price for the proceeding 15 days prior to conversion. Additionally, as an incentive to the holder, the Crom Note contains a securities purchase agreement which provided for the issuance of 9,167 warrants for the purchase of an equivalent number of shares of common stock at an exercise price of $15.00 and a term of five years.

The Company initially recognized $17,500 of debt discount resulting from the original issue discount and the deferred financing costs. The Company amortized $4,500 through interest expenses during the year ended December 31, 2025. The balance of the unamortized debt discount was $13,000 as of December 31, 2025. Interest expenses, including the amortization of discount amounted to $18,250 during the year ended December 31, 2025.

The balance of the Crom Note was $124,500 as of December 31, 2025.

**NOTE 7 – PROMISSORY NOTES – RELATED PARTIES**

Related party promissory notes consisted of the following at December 31, 2025 and 2024:

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| | | |
|:---|:---|:---|
|  | December 31, 2025 | December 31, 2024 |
| Lisa Landau – On demand | 586567 | 347374 |
| Total related party promissory notes, current | $586567 | $347374 |

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***Lisa Landau***

Lisa Landau is a relative of the Company's Chief Financial Officer. During the years ended December 31, 2025 and 2024, Ms. Landau advanced funds to the Company for general corporate expenses and paid directly towards certain promissory notes.

The balance owed was $586,567 and $347,374 as of December 31, 2025 and 2024, respectively. The advances are due on demand and accrue interest at 20% per annum.

**NOTE 8 – COMMITMENTS AND CONTINGENCIES**

*Commitment to Purchase Land (Valle Divino)*

The land project consisting of 20 acres to be acquired from Baja Residents Club (a Company controlled by our chairman of the board Roberto Valdes) and developed into Valle Divino resort in Ensenada, Baja California, the acquisition of title to the land for this project is subject to approval from the Mexican government in Baja, California. Although management believes that the transfer of title to the land will be approved before the end of the Company fiscal year end 2025, there is no assurance that such transfer of title will be approved in that time frame or at all. The Company has promised to transfer title to the plots of land to the investors who have invested in the Company once the Company receives an approval of change in transfer of title to the Company through a Fideicomiso.

*Land purchase- Plaza Bajamar.*

During 2019, the Company entered into a definitive Land Purchase Agreement with Valdeland, S.A. de C.V., a Company controlled by our chairman of the board Roberto Valdes, to acquire approximately one acre of land with plans and permits to build 34 units at the Bajamar Ocean Front Golf Resort located in Ensenada, Baja California. Pursuant to the terms of the Agreement, the total purchase price is $1,000,000, payable in a combination of a new series of preferred stock (with a stated value of $600,000), 5,000 shares of common stock, a promissory note in the amount of $150,000, and an initial construction budget of $150,000 payable upon closing. The closing is subject to obtaining the necessary approval by the City of Ensenada and transfer of title, which includes the formation of a wholly owned Mexican subsidiary. As of December 31, 2025 and 2024, the agreement has not yet closed.

The total budget was established at approximately $1,556,000, inclusive of lots construction, of which approximately $995,747 has been paid, leaving a firm commitment of approximately $560,250 as of both December 31, 2025 and 2024.

*Commitment to Sell Land (IntegraGreen)*

During 2019, the Company entered into a contract for deed agreement "Agreement" with IntegraGreen whose principal, Christopher Elder, is also a creditor. Under the agreement the Company agreed to the sale of 20 acres of vacant land and associated improvements located at the Emerald Grove property in Hemet, California for a total purchase price of $630,000, $63,000 was paid upon execution and the balance is payable in a balloon payment on October 1, 2026, with interest only payments due on the 1st of each month beginning April 1, 2020. During the duration of the Agreement the Company retains title and is allowed to encumber the property with a mortgage at its discretion, however IntegraGreen has the right to use the property. The Company may also evict IntegraGreen from the premises in the case of default under the agreement.

The Company has fully impaired the carrying balance of its account receivable owed by IntegraGreen in a prior reporting period.

*Oasis Park Resort construction budget*

During 2021, the Company engaged a general contractor to complete phase I of the project including the two-mile access road and the community entrance structure. The contractor also commenced phase II construction including the waterfront clubhouse, casitas, and model homes. The total budget was established at approximately $512,000, of which approximately $118,600 has been paid, leaving a firm commitment of approximately $393,400 as of December 31, 2025 and 2024.

*Litigation Costs and Contingencies*

From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm business. Management is currently not aware of any such legal proceedings or claims that could have, individually or in the aggregate, a material adverse effect on our business, financial condition, or operating results.

**NOTE 9 – STOCKHOLDERS' EQUITY (DEFICIT)**

The Company's equity at December 31, 2025, consisted of 250,000,000 authorized common shares and 2,010,000 authorized preferred shares, all with a par value of $0.001 per share. As of December 31, 2025, there were 2,666,311 shares issued and 2,606,311 shares outstanding. As of December 31, 2024, there were 1,952,054 shares issued and 1,892,054 shares outstanding.

As of December 31, 2025, there were 117,000 shares of Series A Preferred Stock issued and outstanding, 1,000 shares of Series B Preferred Stock issued and outstanding, 3,316 shares of Series C Preferred Stock issued and outstanding and 17,000 of Series D Preferred Stock issued and outstanding.

As of December 31, 2024, there were 117,000 shares of Series A Preferred Stock issued and outstanding, 1,000 shares of Series B Preferred Stock issued and outstanding, 3,100 shares of Series C Preferred Stock issued and outstanding and 17,000 of Series D Preferred Stock issued and outstanding.

***Equity Incentive Plans***

*2024 Equity Incentive Plan*

On November 29, 2024, the Company's board of directors approved the 2024 equity incentive plan (the "2024 Plan"). The 2024 Plan enables the Company's board of directors to provide equity-based incentives through grants of awards to the Company's present and future employees, directors, consultants, and other third-party service providers. The Company has reserved a total of 300,000 shares of the Company's common stock for issuance under the 2024 Plan. The Company had 60,000 options issued and outstanding under the 2024 Plan as of December 31, 2025.

*2022 Equity Incentive Plan*

On December 1, 2022, the Company's Board of Directors approved a 2022 Equity Incentive Plan (the "2022 Plan"). The 2022 Plan enables the Company's board of directors to provide equity-based incentives through grants of awards to the Company's present and future employees, directors, consultants, and other third-party service providers. The Company has reserved a total of 100,000 shares of the Company's common stock to be available under the 2022 Plan. The Company had 43,000 options issued and outstanding as of December 31, 2025 and 2024.

*2020 Equity Incentive Plan*

On August 26, 2020, the Company's Board of Directors approved the 2020 Equity Incentive Plan (the "2020 Plan"). The 2020 Plan enables the Company's board of directors to provide equity-based incentives through grants of awards to the Company's present and future employees, directors, consultants, and other third-party service providers. The Company had reserved a total of 60,000 shares of the Company's common stock to be available under the 2020 Plan. The Company had no options issued and outstanding under the 2020 Plan as of December 31, 2025.

*2019 Equity Incentive Plan*

On February 11, 2019, the Company's Board of Directors approved a 2019 Equity Incentive Plan (the "2019 Plan"). In order for the 2019 Plan to grant "qualified stock options" to employees, it required approval by the Corporation's shareholders within 12 months from the date of the 2019 Plan. The 2019 Plan was never approved by the shareholders. Therefore, any options granted under the 2019 Plan prior to shareholder approval will be "non-qualified". The Company has reserved a total of 60,000 shares of the Company's common stock to be available under the 2019 Plan. The Company has a total of 43,000 options issued and outstanding under the 2019 Plan as of December 31, 2025 and 2024.

***Activity during the year ended December 31, 2025***

During the year ended December 31, 2025, the Company issued 284,355 shares of common stock pursuant to consulting agreements.

During the year ended December 31, 2025, the Company issued 306,631 shares of common stock pursuant to the conversion of convertible notes payable.

During the year ended December 31, 2025, the Company issued 24,800 shares of common stock pursuant to the exercise of warrants.

During the year ended December 31, 2025, the Company issued 9,900 shares of common stock pursuant to an inducement agreement on convertible notes.

During the year ended December 31, 2025, the Company issued 88,571 shares of common stock pursuant to a conversion of Series C Preferred Stock.

***Activity during the year ended December 31, 2024***

During the year ended December 31, 2024, the Company issued 154,052 shares of common stock pursuant to consulting agreements for a total fair value of approximately $559,919.

During the year ended December 31, 2024, the Company issued 24,476 shares of common stock pursuant to the conversion of convertible notes payable.

During the year ended December 31, 2024, the Company issued 49,697 shares of common stock pursuant to an exercise of warrants.

During the year ended December 31, 2024, the Company issued 91,000 shares of common stock pursuant to a promissory note agreement. The shares were valued at $197,415.

During the year ended December 31, 2024, the Company issued 7,747 shares of common stock pursuant to a stock dividend arrangement for Series C Preferred Stock.

During the year ended December 31, 2024, the Company issued 41,920 shares of common stock pursuant to a stock dividend arrangement for Series D Preferred Stock.

Preferred Stock

The terms and conditions of the Series B include an in-kind accrual feature, which provides for a cumulative accrual at a rate of 12% per annum of the face amount of the Series B. The Company has recognized $1,212,822 and $1,022,822 of deemed dividends on Series B as of December 31, 2025 and 2024, respectively. The recognition of the in-kind accrual was reported in Additional Paid In Capital on the Company's consolidated balance sheets.

The Securities Purchase Agreement ("SPA") states that the in-kind accrual rate should be increased by10% per annum upon each occurrence of an event of default. In addition, the SPA further states that the conversion price initially set at a discount of 35% to the market price should be further increased by an additional 10% upon each occurrence of an event of default. At the date of their Annual Report, CleanSpark claims that the Company was in default in three instances triggering further discount to the market price for the conversion feature and additional accrual rate. Management has recorded for this additional default and interest expense as noted in the previous paragraph. The Company has not been served with any notice of default stating the specific default events but will continue to accrue the additional default interest until the matter is resolved. As of the date of the filing of this Annual Report, the parties are cooperating to resolve this matter. The Company did not issue any shares of Series B preferred stock during the years ended December 31, 2025 and 2024.

During the year ended December 31, 2024, the Company issued 89,000 shares of Series A preferred stock pursuant to the conversion of the note payable to IRED for $8,900,000. The total principal balance along with accrued interest of $556,250 has been converted. The Company did not issue any shares of Series A preferred stock during the year ended December 31, 2025.

The terms and conditions of the Series C include an in-kind accrual feature, which provides for a cumulative accrual at a rate of 12% per annum of the face amount of the Series C. The Company recognized a deemed dividend of $60,003 based on a discount to the purchase price on the Series C during the year ended December 31, 2023. The recognition of the in-kind accrual was reported in Additional Paid In Capital on the Company's consolidated balance sheets. During the year ended December 31, 2024, the Company issued 1,897 shares of common stock pursuant to the stock dividend terms in the agreement.

The Securities Purchase Agreement ("SPA") states that the in-kind accrual rate should be increased by 8% per annum upon each occurrence of an event of default.

Concurrently with this SPA, the Company entered into a Warrant Inducement Agreement ("Inducement"). Previously, on July 26, 2021, the Company entered into a Warrant Purchase Agreement with Bigger Capital Fund, LP where the Company issued common stock purchase warrants at an exercise price of $34.00 (the "Existing Warrants"). As further consideration for Bigger Capital Fund, LP agreeing to enter in the Series C Preferred Stock Securities Purchase Agreement (the "New Purchase Agreement"), the Company offered an additional 24,800 Warrant Shares, and (b) a reduction of the exercise price of the Existing Warrants to $3.50 per Warrant Share. As such, upon accepting this offer, the terms to the Existing Warrant issued pursuant to the Inducement have been amended and restated to refer to 54,800 Warrant Shares in the aggregate and all Existing Warrants issued pursuant to the Inducement will have an updated exercise price per share of $3.50.

On July 29, 2025, Bigger Capital Fund, LP exercised the 24,800 Warrants and converted their 3,100 shares of Series C preferred stock purchased for $310,000 into 88,571 shares of the Company's common stock, using the conversion price of $3.50 per share.

The Company recognized a deemed dividend of $81,526 based on a discount to the purchase price on the Series C during the year ended December 31, 2025. The recognition of the in-kind accrual was reported in Additional Paid In Capital on the Company's consolidated balance sheets.

In October 2023, the Company filed and adopted a Certificate of Designations, Preferences and Rights of the Series D Convertible Preferred Stock (the "Certificate of Designations") with the Wyoming Secretary of State, authorizing the issuance of up to 20,000 shares of Series D Convertible Preferred Stock, par value $0.001 per share (the "Series D Preferred Stock"), each having a stated value equal to $100.00 (the "Stated Value"). The Series D Preferred Stock has no stated maturity and is subject to a mandatory redemption at 110% of the Stated Value, plus all unpaid dividends in respect of such share (the "Additional Amount") thereon.

The Series D Preferred Stock ranks senior with respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company to all other shares of capital stock of the Company, including all other outstanding shares of preferred stock as of the filing date of the Certificate of Designations, except, however, the Series D Preferred Stock is subordinate to the series of preferred stock of the Company designated as "Series C Convertible Preferred Stock." The Company shall be permitted to issue capital stock, including preferred stock, that is junior in rank to the Series D Preferred Stock with respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company.

Holders of shares of Series D Preferred Stock are entitled to receive, on each dividend payment date, (i) cumulative cash dividends on each share of Series D Preferred Stock, on a quarterly basis, at a rate of 12% per annum of the Stated Value, plus the Additional Amount thereon, and (ii) dividends in the form of shares of common stock on each share of Series D Preferred Stock, on a quarterly basis, at a rate of 8% per annum on the Stated Value.

At any time after the earlier of (i) a Qualified Offering (as defined below) or (ii) the date that is 18 months from the date the first share of Series D Preferred Stock is issued to any holder thereof, each holder of Series D Preferred Stock shall be entitled to convert any portion of the outstanding Series D Preferred Stock, including any Additional Amount, held by such holder into shares of common stock at the Conversion Price (as defined below) by following the mechanics of conversion set forth in the Certificate of Designations.

The amount of shares of common stock issuable upon a conversion for each Series D Preferred Stock shall be the Stated Value of such share plus the Additional Amount divided by the Conversion Price (as defined below). The "Conversion Price" for each Series D Preferred Stock is, the lower of the price per share at which a Qualified Offering (as defined below) is made (the "Qualified Offering Price") or 80% of the average of the closing sale price for the 10 consecutive trading days immediately preceding, but not including, the effective date of the applicable conversion notice. A "Qualified Offering" means an offering of common stock (or units consisting of common stock and warrants to purchase common stock) resulting in the listing for trading of the common stock on the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange (or any successors to any of the foregoing).

During the year ended December 31, 2023, the Company converted $1,414,338 of principal and $171,825 of interest payable due to Six Twenty Management LLC into 17,000 shares of Series D Convertible Preferred Stock. During the year ended December 31, 2025, the Company paid a dividend of $24,500 on the Series D Preferred Stock. There was no activity during the year ended December 31, 2024.

***Stock Options***

A summary of the Company's option activity during the years ended December 31, 2025 and 2024, is presented below:

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of**<br> **Options** | **Weighted**<br> **Average**<br> **Exercise Price** | **Weighted**<br> **Average**<br> **Remaining**<br> **Contract Term**<br> **(Year)** |
| Outstanding at December 31, 2024 |  | $- |  |
| Granted | 60000 | 7.50 | 9.25 |
| Exercised |  |  |  |
| Forfeit/Canceled | - | - | - |
| Outstanding at December 31, 2025 | 60000 | $7.50 | 9.25 |
| Exercisable at December 31, 2025 | 60000 |  |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of**<br> **Options** | **Weighted**<br> **Average**<br> **Exercise Price** | **Weighted**<br> **Average**<br> **Remaining**<br> **Contract Term**<br> **(Year)** |
| Outstanding at December 31, 2023 | 120000 | $17.00 | 3.14 |
| Granted |  |  |  |
| Exercised |  |  |  |
| Forfeit/Canceled | (120000) | - | - |
| Outstanding at December 31, 2024 | - | $- | - |
| Exercisable at December 31, 2024 | - |  |  |

---

Options outstanding as of December 31, 2025 and 2024, had aggregate intrinsic value of $0, respectively. At December 31, 2025, the total deferred share-based compensation has been fully recognized.

The Company measured equity-based compensation using the Black-Scholes option valuation model using the following assumptions as of December 31, 2025 and 2024:

---

| | |
|:---|:---|
| Expected term | 0.50-1.00 years |
| Strike price | $0.00 – 0.20 |
| Expected volatility | 148%-275% |
| Expected dividends |  |
| Risk-free interest rate | 0.34% - 0.85% |
| Forfeitures |  |

---

 ****

***Warrants***

A summary of the Company's warrant activity during the years ended December 31, 2025 and 2024, is presented below:

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of <br> Warrants** | **Weighted<br> Average<br> Exercise Price** | **Weighted<br> Average<br> Remaining Contract<br> Term <br> (Year)** |
| Outstanding at December 31, 2024 | 762150 | $8.00 | 3.17 |
| Granted | 174469 | 26.00 | 7.87 |
| Exercised | (24800) | 5.00 |  |
| Forfeited-Canceled | - | - | - |
| Outstanding at December 31, 2025 | 911819 | $11.40 | 3.26 |
| Exercisable at December 31, 2025 | 911819 |  |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of**<br> **Warrants** | **Weighted**<br> **Average**<br> **Exercise Price** | **Weighted**<br> **Average**<br> **Remaining<br> Contract Term**<br> **(Year)** |
| Outstanding at December 31, 2023 | 762150 | $8.00 | 4.17 |
| Granted |  |  |  |
| Exercised |  |  |  |
| Forfeited-Canceled | - | - | - |
| Outstanding at December 31, 2024 | 762150 | $8.00 | 3.17 |
| Exercisable at December 31, 2024 | 762150 |  |  |

---

The aggregate intrinsic value as of December 31, 2025 and 2024, was $0, respectively.

The Company used the following assumptions to value the warrants issued during the years ended December 31, 2025 and 2024:

---

| | |
|:---|:---|
|  | **Warrants** |
| Risk free rate | 3.94% |
| Market price per share | $0.09 |
| Life of instrument in years | 5 years |
| Volatility | 162% |
| Dividend yield | 0% |

---

**NOTE 10 – INCOME TAX**

As of December 31, 2025 and 2024, the Company had gross federal net operating loss carryforwards of approximately $37.4 million and $24.1 million, respectively. Management expects the limitation placed on the federal net operating loss carryforwards prior to the ownership change will likely expire unused. As of December 31, 2025, all tax years are open for examination by the taxing authorities.

Due to the enactment of the Tax Reform Act of 2017, the corporate tax rate for those tax years beginning with 2018 has been reduced to 21%.

**NOTE 11 – SUBSEQUENT EVENTS**

The Company has evaluated subsequent events for adjustment to or disclosure in its consolidated financial statements through the date of this report and has not identified any recordable or disclosable events, other than the following.

On January 29, 2026, the Company filed a Form 8-K and entered into Amendment #1 of the Mast Hill Note dated November 17, 2026, for purposes of amending the original SPA warrant language. Pursuant to the Amendment filed on January 29, 2026, for each Tranche closed under the Mast Hill Note, the Company shall issue a common stock purchase warrant to purchase a number of shares of Common Stock determined by the following formula: 100% of the principal amount of such Tranche divided by $0.6695 (the "Initial Exercise Price", which is subject to appropriate adjustments for any stock dividend, stock split, stock combination, rights offerings, reclassification or similar transaction that proportionately decreases or increases the Common Stock) (collectively, the "Warrants"). Each of the Warrants shall initially be exercisable at an exercise price equal to the Initial Exercise Price."

On January 30, 2026, we filed with the Wyoming Secretary of State an Articles of Amendment to our Articles of Incorporation to effect the reverse stock split of all outstanding shares of our common stock at a ratio of 1-for-50. All share and per share numbers in this prospectus have been adjusted to give effect to our reverse split at a ratio of 1-for-50 effected on February 4, 2026.

During January and February 2026, the Company converted $121,333 of principal and $18,667 of accrued interest on Quick Capital Note 2, into 29,476 common shares of the Company's stock using the conversion prices of $5.00 and $4.50.

**Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure.**

Not Applicable.

**Item 9A. Controls and Procedures.**

**Evaluation of Disclosure Controls and Procedures**

As required by Rule 13a-15 under the Exchange Act, we have carried out an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the period covered by this annual report, being December 31, 2025. This evaluation was carried out under the supervision of, and with the participation of, our management, including our Chief Executive Officer and Chief Financial Officer.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in our company's reports filed under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Based upon that evaluation, we have concluded that our disclosure controls and procedures are not effective as of the end of the period covered by this annual report due to the material weaknesses indicated below. We intend to implement additional procedures to improve disclosure controls.

**MANAGEMENT'S ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING**.

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Management has assessed the effectiveness of our internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control-Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

As a result of this assessment, management concluded that, as of December 31, 2025, our internal control over financial reporting was not effective. Our management identified the following material weaknesses in our internal control over financial reporting, which are indicative of many small companies with limited personnel:

■ Lack
 of qualified and sufficient personnel, and processes to adequately and timely identify any and all required public disclosures.

■ Deficiencies
 in the period-end reporting process and accounting policies.

■ Inadequate
 internal controls over the application of new accounting principles or the application of existing accounting principles to new transactions.

■ Inadequate
 internal controls relating to the authorization, recognition, capture, and review of transactions, facts, circumstances, and events
 that could have a material impact on the Company's financial reporting processes.

■ Inadequate
 controls over maintenance of records.

Management has assigned a priority to the short-term and long-term improvement of our internal control over financial reporting.

The Company plans to:

■ Continue
 to outsource the bookkeeping and technical accounting functions to external consulting firms due to the lack of internal resources.

■ Emphasize
 the importance of, and monitor the sustained compliance with, the execution of our internal controls over financial reporting.

■ Work
 with our third-party service provider to ensure that our accounting and reporting for income taxes are timely and accurate

**CHANGES IN INTERNAL CONTROLS**

No change in our system of internal control over financial reporting occurred during the period covered by this report, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**Item 9B. Other Information.**

Not applicable.

**Item 9C. Disclosure Regarding Foreign Jurisdiction that Prevent Inspections.**

Not applicable.

**PART III**

**Item 10. Directors, Executive Officers, and Corporate Governance.**

Our Bylaws provide that the Board of Directors shall consist of no more than three (3) directors. Each director of the Company serves until his successor is elected and qualified, subject to removal by the Company's shareholders. Each officer holds office for such term and exercises such powers and performs such duties as are determined by the Board of Directors.

---

| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position** |
| Frank Ingrande | 63 | Chief Executive Officer and President |
| Jason Sunstein | 54 | Chief Financial Officer and Director |
| Roberto Jesus Valdes | 57 | Chairman of the Board |
| Jeffrey S. Healy | 64 | Director |
| Lori Love | 44 | Director |
| Curt J. Welker | 68 | Director |

---

**Frank Ingrande**

Mr. Ingrande is the Co-founder of Rancho Costa Verde Development, the Company's equity-method investee. He is a native San Diego resident with over 30 years of experience in the second-home industry and more than 20 years in the second-home market in Mexico. Mr. Ingrande has direct experience in acquiring, developing, and marketing real estate in Mexico. His educational background includes a Bachelor of Business Administration degree and a Master of Business Administration degree with an emphasis in Entrepreneurship and International Business from the University of San Diego. Mr. Ingrande holds a California Real Estate Salesperson License.

Mr. Ingrande has been one of our officers since May 2021 and is now serving as the Company's Chief Executive Officer. Mr. Ingrande has also been serving as the Company's President since January 2023.

**Jason Sunstein**

Mr. Sunstein brings finance, mergers and acquisitions and general management experience. Since 1989, he has participated in a broad variety of both domestic and international structured investments and financings, ranging from debt and preferred stock to equity and developmental capital across a wide variety of infrastructure and corporate financings. He has been involved in numerous start-ups, turnarounds and public companies. Mr. Sunstein serves on the Board of Directors of several public and private companies. He attended San Diego State University where he majored in Finance and has held NASD Series 7 (General Securities Representative) and Series 63 licenses.

Mr. Sunstein has been one of our officers and directors since October 2013 and is now serving as the Company's Chief Financial Officer and Director.

**Roberto Jesus Valdes**

Mr. Valdes has been the President of Grupo Valcas, Baja Residents Club, S.A. de, C.V. since 2004, and was the Assistant in the Grupo Valcas Design Department from 1989 to 1991. From 1991 through 2004, Mr. Valdes was a member of the Board of Directors, DUBCSA - Bajamar Ocean Front Resort Master Developer. During his term as a director, he acted as Project Director for Grupo Valcas. His projects have included:

● La
 Serena Condominiums, Ensenada, 1992-1994

● La
 Quinta Bajamar Condominiums, Ensenada, 1994-1996

● Oceano
 at Bajamar residential development, Ensenada, 1996-1998

● Oceano
 Diamante residential development, Ensenada, 2000

● Costa
 Bajamar condominiums, Ensenada, 2004-2005

Mr. Valdes has been one of our officers and directors since October 2013 and is now serving as the Company's chairman of the board. Mr. Valdes served as the Company's Chief Executive Officer from inception to September 2024.

**Jeffrey S. Healy**

Mr. Healy has been one of our directors since February 2026. Mr. Healy has been a high-level partner and executive in the resort, hospitality and vacation ownership industry for over 25 years, specializing in international developments. Beginning in 1983, Mr. Healy practiced as a CPA and executive with KPMG Peat Marwick for 9 years. In 1993, Mr. Healy was hired as the Executive Director and CFO for The Villa Group (Villa del Palmar, Villa La Estancia and Garza Blanca Resorts). During that time, Mr. Healy lived in Mexico and oversaw all financial, operational and administrative functions of their resort group and Vacation Club, with various hotels and timeshare resorts in Puerto Vallarta and Cabo San Lucas. Mr. Healy was also very involved in the evolution of the Villa La Estancia brand, one of the most successful fractional projects developed to date.

In mid-1998, Mr. Healy became a partner in a resort services company, ResortCom International. In this role, Mr. Healy was the CEO/President of ResortCom for the next 13 years. Mr. Healy ran this operation, along with his partner, John Small, who had many years of experience running top luxury hotels all over the world. ResortCom provides financial services, reservations and travel call center services, Vacation Club Management and Administration, resort management and marketing and lead generation marketing for the shared ownership industry (both timeshare and luxury fractional). ResortCom also developed one of the most advanced and complete technology and software operating systems for the industry to date. ResortCom has over 85 resort clients located in the US and internationally, with most in Latin America.

In 2011, Mr. Healy entered into the joint venture, called Club Tesoro Resorts, LLC, with Steadfast Companies, a $5 billion real estate investment company in Irvine, California, to create one of the most current and consumer desired vacation ownership programs in the market within their hospitality division. Mr. Healy was the Managing Director for Club Tesoro Resorts through September 2017.

Since 2004, Mr. Healy has also been a minority partner in PDS Resorts. The group has owned and managed various hotels in Mexico. In addition, the group has run very successful vacation club membership programs within those properties. Since 2017, Mr. Healy has been active in the Executive Committee for their current hotel (Costa Sur Resort). Most recently, Mr. Healy purchased BLC Enterprises, Inc., which is a boutique resorts financial services and reservations company. It services a large vacation club and resort based in Nuevo Vallarta (Paradise Village). In addition, BLC has recently entered into a Marketing partnership with Trinity Resort Services, and an agreement to eventually combine the two companies. Trinity is another resorts financial and reservations services company.

We believe that Mr. Healy is well qualified to serve as our director because of his extensive career in resort and hospitality, as well as experience with start-up ventures.

**Lori Love**

Ms. Love has been one of our directors since February 2026. Ms. Love is a licensed CPA and an experienced finance professional with 20+ years of experience in accounting, finance and risk management, both in public accounting and in the private sector. Her experience includes "C" level positions in cryptocurrency, energy, healthcare technology, financial services and consulting services.

From June 2022 to the present, Ms. Love has served as a Senior Manager for Eide Bailly's outsourced managed services group. From October 2019 to December 2021, Ms. Love served as chief financial officer of CleanSpark, Inc., a NASDAQ listed company, where she was responsible for financial strategy, SEC financial reporting, and internal controls.

From July 2015 to September 2019, Ms. Love was self-employed as a consultant where she provided outsourced accounting services to various companies, including acting as chief financial officer for P2K Labs, LLC. Prior to 2015, Ms. Love served in the role of Senior Vice President of Finance at Provident Trust Group for over two years and as Vice President of Finance and Operations at WorldDoc, Inc. where she also served as a director. Prior to her work in the private sector, Ms. Love was an auditor with RSM McGladrey, where she focused primarily on financial services engagements.

Ms. Love obtained her Bachelor of Business Administration (BBA) in Accounting from University of Nevada, Las Vegas and carries the CPA designation. Ms. Love does not hold and has not held over the past five years any other directorships in any company with a class of securities registered pursuant to Section 12 of the Exchange Act or subject to the requirements of Section 15(d) of the Exchange Act or any company registered as an investment company under the Investment Company Act of 1940.

We believe that Ms. Love is well qualified to serve as our director because of her career in public accounting and experience serving as a director in the industry sector.

**Curt J. Welker**

Mr. Welker has been one of our directors since February 2026. Mr. Welker began his public accounting career in 1982 as an assistant controller – and later Chief Financial Officer – for an international trading firm. He also spent over four years with a Big Four CPA firm. Mr. Welker's specific areas of expertise include corporate, individual, estate and partnership tax planning within the real estate, hospitality, construction, manufacturing and automotive industries.

Mr. Welker received a Bachelor of Science degree in Accounting from San Diego State University where he also did his graduate tax work in the Masters in Tax program. He is a member of the American Institute of CPAs and the California Society of CPAs.

We believe that Mr. Welker is well qualified to serve as our director because of his experience in public accounting and having served as a CFO.

**<u>Term of Office</u>**

All officers and directors listed above will remain in office until the next annual meeting of our stockholders, and until their successors have been duly elected and qualified or until removed from office in accordance with our bylaws. There are no agreements with respect to the election of directors. We have not compensated our directors for service on our board of directors, any committee thereof, or reimbursed for expenses incurred for attendance at meetings of our board of directors and/or any committee of our board of directors. We do not have any standing committees. Our board of directors may in the future determine to pay directors' fees and reimburse directors for expenses related to their activities. Officers are appointed annually by our board of directors and each executive officer serves at the discretion of our board of directors.

None of our officers and/or directors have filed any bankruptcy petition, been convicted of or been the subject of any criminal proceedings or the subject of any order, judgment or decree involving the violation of any state or federal securities laws within the past five (5) years.

**<u>Board Committees</u>**

*Audit Committee*

We do not have a standing audit committee of the board of directors. Management has determined not to establish an audit committee at present because of our limited resources and limited operating activities do not warrant the formation of an audit committee or the expense of doing so. Our board of directors has determined that Lori Love possesses accounting or related financial management experience that qualifies her as an "audit committee financial expert" as defined by the rules and regulations of the SEC.

**<u>Code of Ethics</u>**

We have not yet adopted a Code of Ethics that applies to our principal executive officer, principal financial officer, and principal accounting officer, but will adopt a Code of Ethics when determined appropriate in the near future. Our Code of Ethics will be available on our website at www.ila.company.

There is no arrangement or understanding between any person pursuant to which any director or officer was or is to be selected as a director or officer, and there is no arrangement, plan or understanding as to whether non-management shareholders will exercise their voting rights to continue to elect directors to our board of directors. There are also no arrangements, agreements or understandings between non-management shareholders that may directly or indirectly participate in or influence the management of our affairs.

**<u>Family Relationships</u>**

Jason Sunstein and Lisa Landau are brother and sister. Ms. Landau is a former executive officer and former Secretary of the Company and a shareholder of the Company. The Company issued a promissory note to RAS, LLC "RAS", a company controlled by Ms. Landau.

**Role of Board in Risk Oversight Process**

Our Chairman, Chief Executive Officer and President, and Chief Financial Officer and Director positions are held by Roberto Jesus Valdes, Frank Ingrande, and Jason Sunstein, respectively, who currently beneficially own approximately 4.6%, 6.4%, and 4.9%, respectively, of the voting power of our outstanding common stock. Periodically, our board of directors assesses these roles and the board of directors' leadership structure to ensure the interests of our company and our stockholders are best served. Our board of directors has determined that our current leadership structure is appropriate. Each of Roberto Jesus Valdes, Frank Ingrande, and Jason Sunstein has extensive knowledge of all aspects of our company, our business and risks.

While management is responsible for assessing and managing risks to our company, our board of directors is responsible for overseeing management's efforts to assess and manage risk. This oversight will be conducted primarily by our full board of directors, which has responsibility for general oversight of risks, and any standing committees of our board of directors. Our board of directors will satisfy this responsibility through regular reports directly from officers responsible for oversight of particular risks within our company. Our board of directors believes that full and open communications between management and the board of directors are essential for effective risk management and oversight.

**Involvement in Certain Legal Proceedings**

To the best of our knowledge, none of our directors or executive officers has, during the past ten years:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●&nbsp;&nbsp;&nbsp;&nbsp; been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●&nbsp;&nbsp;&nbsp;&nbsp; had any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business association of which he was a general partner or executive officer, either at the time of the bankruptcy filing or within two years prior to that time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●&nbsp;&nbsp;&nbsp;&nbsp; been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, by any court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his involvement in any type of business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be associated with persons engaged in any such activity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●&nbsp;&nbsp;&nbsp;&nbsp; been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●&nbsp;&nbsp;&nbsp;&nbsp; been the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged violation of any federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●&nbsp;&nbsp;&nbsp;&nbsp; been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

From time to time, we may be subject to various legal or administrative claims and proceedings arising in the ordinary course of business. Litigation or any other legal or administrative proceeding, regardless of the outcome, is likely to result in substantial cost and diversion of our company's resources, including our company's management's time and attention.

**Section 16(a) Beneficial Ownership Reporting Compliance**

Section 16(a) of the Exchange Act requires our directors and officers, and the persons who beneficially own more than 10% of our common stock, to file reports of ownership and changes in ownership with the SEC. Copies of all filed reports are required to be furnished to us pursuant to Rule 16a-3 promulgated under the Exchange Act. Based solely on the reports received by us and on the representations of the reporting persons, we believe that these persons have complied with all applicable filing requirements during the year ended December 31, 2025.

**<u>Indemnification of Executive Officers and Directors</u>**

Section 17-16-856 of the Wyoming Business Corporation Act provides that any director or officer of a Wyoming corporation may be indemnified against judgments, penalties, fines, settlements and reasonable expenses actually incurred by him in connection with or in defending any action, suit or proceeding in which he is a party by reason of his position, so long as it shall be determined that he conducted himself in good faith and that he reasonably believed that his conduct was in the corporation's best interest and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his conduct was unlawful. If a director or officer is wholly successful, on the merits or otherwise, in connection with such proceeding, such indemnification is mandatory.

Currently we maintain directors' and officers' liability insurance covering our directors and officers against expenses and liabilities arising from certain actions to which they may become subject by reason of having served in such role.

At present, there is no pending litigation or proceeding involving any of our directors, officers, employees or agents where indemnification will be required under Wyoming law. We are not aware of any threatened litigation or preceding that might result in a claim for such indemnification.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling persons pursuant to the provisions described above, or otherwise, we have been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than our payment of expenses incurred or paid by our director, officer or controlling person in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

**Item 11. Executive Compensation.**

**SUMMARY COMPENSATION TABLE**

We do not offer retirement benefit plan to our named executive officers, nor have we entered into any contract, agreement, plan or arrangement, whether written or unwritten, that provides for payments to a named executive officer at, or in connection with, the resignation, retirement or other termination of a named executive officer, or a change in control of the company or a change in the named executive officer's responsibilities following a change in control.

We do not have any standard arrangement for compensation of our directors for any services provided as director, including services for committee participation or for special assignments.

The Company does not have a compensation committee. Given the nature of the Company's business, its limited stockholder base and the current composition of management, the board of directors does not believe that the Company requires a compensation committee at this time.

The information required by Regulation S-K Item 407(e)(4), "Compensation Committee Interlocks and Insider Participation," and Item 407(e)(5), "Compensation Committee Report," is not required because the Company is a smaller reporting company.

The following table sets forth information regarding each element of compensation that we paid or awarded to our named executive officers, for the two fiscal years ended December 31, 2025, and 2024, which includes cash compensation, stock options awarded and all other compensation:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and Principal Position** | **Year Ended Dec. 31** | **Salary/Fees<br> ($) (1)** | **Bonus<br> ($)** | **Stock Awards<br> ($)** | **Option Awards<br> ($) (2)** | **Non-Equity<br> Incentive Plan<br> Compensation<br> ($)** | **Change in<br> pension value<br> and Nonqualified<br> Deferred<br> Compensation<br> Earnings <br> ($)** | **All Other<br> Compensation<br> ($)** | **Total<br> ($)** |
| Frank Ingrande, CEO | 2025 | 120000 |  | 173000 |  |  |  |  | 293000 |
|  | 2024 | 132152 |  | 173000 |  |  |  |  | 132152 |
| Jason Sunstein, CFO and Director | 2025 | 120000 |  |  |  |  |  |  | 120000 |
|  | 2024 | 132152 |  |  |  |  |  |  | 132152 |
| Robert Jesus Valdez, Chairman of the Board | 2025 | 120000 |  |  |  |  |  |  | 120000 |
|  | 2024 | 132152 |  |  |  |  |  |  | 132152 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Effective
 January 1, 2020, the Company executed employment agreements with Roberto Valdez and Jason Sunstein. The base salary is in the amount
 of $120,000 per annum, a $500 monthly auto stipend and four weeks of paid vacation. On January 1, 2023, the Company executed an employment
 agreement with Frank Ingrande including a base salary of $120,000 per annum and a $500 monthly auto stipend and four weeks of paid
 vacation.

**Employment Agreement**

The Company entered into an employment agreement with Roberto Valdez on January 1, 2020, to perform the duties and responsibilities as may be assigned. The base salary is in the amount of $120,000 per annum, a $500 monthly auto stipend, and four weeks of paid vacation.

The Company entered into an employment agreement with Jason Sunstein on January 1, 2020, to perform the duties and responsibilities as may be assigned. The base salary is in the amount of $120,000 per annum, a $500 monthly auto stipend, and four weeks of paid vacation.

The Company entered into an employment agreement with Frank Ingrande on January 1, 2023. The base salary is in the amount of $120,000 per annum, a $500 monthly auto stipend, and four weeks of paid vacation.. The employment agreement also includes $865,000 of the Company's Common Stock, payable over the 5-year period of the agreement.

**Stock Options Plan – 2019 Equity Incentive Plan**

On February 11, 2019, the Company's board of directors approved the 2019 equity incentive plan (the "2019 Plan"). In order for the 2019 Plan to grant "qualified stock options" to employees, it requires approval by the Company's shareholders within 12 months from the date of the 2019 Plan. The 2019 Plan was never approved by the stockholders. Therefore, any options granted under the 2019 Plan prior to stockholder approval will be "non-qualified." The Company has reserved a total of 60,000 shares of the Company's common stock to be available under the 2019 Plan. The Company had 43,000 options issued and outstanding under the 2019 Plan as of December 31, 2025.

**Stock Options Plan – 2020 Equity Plan**

On August 26, 2020, the Company's board of directors approved the 2020 equity incentive plan (the "2020 Plan"). The 2020 Plan enables the Company's board of directors to provide equity-based incentives through grants of awards to the Company's present and future employees, directors, consultants, and other third-party service providers. The Company has reserved a total of 60,000 shares of the Company's common stock to be available under the 2020 Plan. The Company had no options issued and outstanding under the 2020 Plan as of December 31, 2025.

**Stock Options Plan – 2022 Equity Plan**

On December 1, 2022, the Company's board of directors approved the 2022 equity incentive plan (the "2022 Plan"). The 2022 Plan enables the Company's board of directors to provide equity-based incentives through grants of awards to the Company's present and future employees, directors, consultants, and other third-party service providers. The Company has reserved a total of 100,000 shares of the Company's common stock to be available under the 2022 Plan. The Company had 43,000 options issued and outstanding as of December 31, 2025.

**Stock Options Plan – 2024 Equity Plan**

On November 29, 2024, the Company's board of directors approved the 2024 equity incentive plan (the "2024 Plan"). The 2024 Plan enables the Company's board of directors to provide equity-based incentives through grants of awards to the Company's present and future employees, directors, consultants, and other third-party service providers. The Company has reserved a total of 300,000 shares of the Company's common stock to be available under the 2024 Plan. The Company had 60,000 options issued and outstanding under the 2024 Plan as of December 31, 2025.

**Employee Pension, Profit Sharing, or other Retirement Plans**

We do not have a defined benefit pension plan, profit sharing or other retirement plan, although we may adopt one or more of such plans in the future.

**Outstanding Equity Awards at Fiscal Year-End**

The following table provides information regarding the outstanding stock option awards held by our named executive officers as of December 31, 2025.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Option Awards** | **Option Awards** | **Option Awards** | | **Stock Awards** | **Stock Awards** |
| <br>**Name** | **Number of Securities Underlying Unexercised Options (#) Exercisable** | **Number of Securities Underlying Unexercised Options (#) Unexercisable** | **Option Exercise Price ($)** | <br>**Option Expiration Date** | **Number of Shares of Stock that Have Not Vested (#)** | **Market Value of Shares Stock that Have Not Vested ($)** |
| Roberto Jesus Valdes, Chairman Various- see below **<sup>(1)</sup>** |  |  |  |  |  |  |
|  |  |  | 25.00, | 10/2/2026, |  |  |
|  |  |  | $10.00, | 12/1/2027, |  |  |
|  | 29317 |  | $5.00 | 11/29/2029 |  |  |
| Frank Ingrande, CEO and President Various – see below **<sup>(2)</sup>** |  |  |  |  |  |  |
|  |  |  | 25.00, | 10/2/2026, |  |  |
|  |  |  | $10.00, | 12/1/2027, |  |  |
|  | 24317 |  | $5.00 | 11/29/2029 |  |  |
| Jason Sunstein, CFO and a Director Various – see below **<sup>(3)</sup>** |  |  |  |  |  |  |
|  |  |  | 25.00, | 10/2/2026, |  |  |
|  |  |  | $10.00, | 12/1/2027, |  |  |
|  | 29317 |  | $5.00 | 11/29/2029 |  |  |

---

(1) Represents
 options to purchase 10,000, 9,317, and 10,000 shares of common stock granted on October 2, 2021, December 1, 2022, and November 29,
 2024, respectively. The options all have a term of five (5) years from issuance, and exercise prices of $25, $10, and $5 per share,
 respectively. The options all vested (i) one quarter (1/4) on the effective dates and (ii) three quarters (3/4) on a monthly basis
 over the twelve (12) month period following the effective dates.

(2) Represents an option to
 purchase 5,000, 9,317, and 10,000 shares of common stock granted on October 2, 2021, December 1, 2022 and November 29, 2024,
respectively. The options all have a term of five (5) years from issuance, and exercise prices of $25, $10, and $5 per share,
 respectively. The options all vested (i) one quarter (1/4) on the effective dates and (ii) three quarters (3/4) on a monthly basis
 over the twelve (12) month period following the effective dates.

(3) Represents an option to
 purchase 10,000, 9,317, and 10,000 shares of common stock granted on October 2, 2021, December 1, 2022, and November 29, 2024,
respectively. The options all have a term of five (5) years from issuance, and exercise prices of $25, $10, and $5 per share,
 respectively. The options all vested (i) one quarter (1/4) on the effective dates and (ii) three quarters (3/4) on a monthly basis
 over the twelve (12) month period following the effective dates.

**Director Compensation** 

We did not pay any compensation to any directors during the year ended December 31, 2025, for service as directors.

**Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.**

***Security Ownership of Certain Beneficial Owners and Management***

The following table sets forth certain information, as of April 27, 2026, with respect to the beneficial ownership of the outstanding common stock by (i) any holder of more than five percent (5%); (ii) each of our executive officers and directors; and (iii) our directors and executive officers as a group.

The table lists applicable percentage ownership based on 4,664,667 shares of common stock outstanding as of April 27, 2026. In addition, the rules include shares of our common stock issuable pursuant to the exercise of stock options and warrants that are either immediately exercisable or exercisable within 60 days of April 27, 2026. These shares are deemed to be outstanding and beneficially owned by the person holding those options for the purpose of computing the percentage ownership of that person, but they are not treated as outstanding for the purpose of computing the percentage ownership of any other person.

We have determined beneficial ownership in accordance with the rules of the SEC. These rules generally attribute beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities. Unless otherwise indicated, the persons or entities identified in this table have sole voting and investment power with respect to all shares shown as beneficially owned by them, subject to applicable community property laws. Except as otherwise noted below, the address for persons listed in the table is c/o International Land Alliance, Inc., 350 10th Avenue, Suite 1000, San Diego, CA 92101.

---

| | | |
|:---|:---|:---|
| | **Shares of Common Stock<br> Beneficially Owned** | **Shares of Common Stock<br> Beneficially Owned** |
| <br>**Name of Beneficial Owner** | **Number** | **Percentage** |
| **5% or Greater Stockholders** |  |  |
| Rob Rios |  |  |
| &nbsp;&nbsp;&nbsp;*Vice-President* | 329267<sup>(1)</sup> | 7.1% |
| Michael Cresci |  |  |
| &nbsp;&nbsp;&nbsp;*Vice-President* | 330267<sup>(2)</sup> | 7.1% |
| **Executive Officers and Directors** |  |  |
| Roberto Jesus Valdes |  |  |
| &nbsp;&nbsp;&nbsp;*Chairman* | 272788 | 5.8% |
| Frank Ingrande |  |  |
| &nbsp;&nbsp;&nbsp;*Chief Executive Officer and President* | 354653<sup>(3)</sup> | 7.6% |
| Jason Sunstein |  |  |
| &nbsp;&nbsp;&nbsp;*Chief Financial Officer and a Director* | 259636<sup>(4)</sup> | 5.6% |
| Jeffrey Healy |  |  |
| &nbsp;&nbsp;&nbsp;*Director* | \* | \* |
| Curt Welker |  |  |
| &nbsp;&nbsp;&nbsp;*Director* | 60000 | 1.3% |
| Lori Love |  |  |
| &nbsp;&nbsp;&nbsp;*Director* | \* | \* |
| **All Directors and Executive Officers as a Group (6 persons)** | 974877 | 20.9% |

---

*<sup>\*</sup>* *Less than 1%*

*<sup>(1)</sup>* *Rob Rios, a Vice President of the Company, was a founder and owner of RCVD, our wholly-owned subsidiary, which was previously owned by IRED. This figure also includes shares that Mr. Rios owns through IRED. RCVD LLC was acquired in full by the Company in January 2023.* 

*<sup>(2)</sup>* *Michael Cresci, a Vice President of the Company, was a founder and owner of RCVD, our wholly-owned subsidiary, which was previously owned by IRED. This figure also includes shares that Mr. Cresci owns through IRED. RCVD LLC was acquired in full by the Company in January 2023.* 

*<sup>(3)</sup>* *Mr. Ingrande, CEO of the Company, was a founder and owner of RCVD, our wholly-owned subsidiary, which was previously owned by IRED. This figure also includes shares that Mr. Ingrande owns through IRED. RCVD LLC was acquired in full by the Company in January 2023.* 

*<sup>(4)</sup>* *Mr. Sunstein is CFO of the Company and his share amount includes shares owned through his personal entity Six-twenty Capital Management LLC.* 

The Company is not aware of any person who owns of record, or is known to own beneficially, five percent (5%) or more of the outstanding securities of any class of the issuer, other than as set forth above.

There are no current arrangements which will result in a change in control.

**Securities Authorized for Issuance Under Equity Compensation Plans**

The following table sets forth information as of December 31, 2025 with respect to compensation plans (including individual compensation arrangements) under which equity securities of the registrant are authorized for issuance.

---

| | | | |
|:---|:---|:---|:---|
| Plan category | Number of securities to be issued upon exercise of outstanding options, warrants and rights | Weighted-average exercise price of outstanding options, warrants and rights | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) |
| Equity compensation plans approved by security holders | 103000 | 7.09 | 417000 |
| Equity compensation plans not approved by security holders | 43000 | $24.00 | 17000 |
| Total | 146000 | $12.08 | 434000 |

---

**Item 13. Certain Relationships and Related Transactions and Director Independence.**

**<u>Related Party Transactions</u>**

Please see Note 4 to the financial statements for a description of our related party transactions.

**<u>Director Independence</u>**

An "independent director" is defined generally as a person who has no material relationship with the listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with our company). We have 3 "independent directors" as defined in the applicable SEC rules. Our board of directors has determined that Jeffrey Healy, Lori Love, and Curt Welker are independent directors under applicable SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present.

**Item 14. Principal Accountant Fees and Services.**

The following table presents fees for professional services rendered by Bush and Associates CPAS for the years ended December 31, 2025, and 2024:

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** |
|  | **2025** | **2024** |
| Audit Fees | $70000 | $95500 |
| Audit-Related Fees | $- | $- |
| Tax Fees | $- | $- |
| All Other Fees | $- | $- |

---

**Pre-Approval Policy**

Our Board of Directors as a whole pre-approves all services provided by Bush and Associates CPAS. For any non-audit or non-audit related services, the Board of Directors must conclude that such services are compatible with the independence as our auditors.

**PART IV**

**Item 15. Exhibits; Financial Statement Schedules.**

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | <br>**Description of Exhibit** |
| 3.1 | [Articles of Incorporation of the Registrant (Incorporated by reference from exhibit 3.1 to our registration statement on form S-1 filed with the SEC on February 11, 2016)](https://www.sec.gov/Archives/edgar/data/1657214/000155723416000427/ex3oh1.htm) |
| 3.2 | [Bylaws of the Registrant (Incorporated by reference from exhibit 3.2 to our registration statement on form S-1 filed with the SEC on February 11, 2016)](https://www.sec.gov/Archives/edgar/data/1657214/000155723416000427/ex3oh2.htm) |
| 3.3 | [Amendment No. 1 to Bylaws of the Registrant (Incorporated by reference to Exhibit 3.1 to our current report on Form 8-K filed with the SEC on May 20, 2022)](https://www.sec.gov/Archives/edgar/data/1657214/000149315222014649/ex3-1.htm) |
| 3.4 | [Articles of Amendment to Articles of Incorporation of the Registrant (Incorporated by reference to Exhibit 3.1 to our current report on Form 8-K filed with the SEC on November 8, 2023)](https://www.sec.gov/Archives/edgar/data/1657214/000149315223039944/ex3-1.htm) |
| 3.5 | [Certificate of Designations of Series D Preferred Stock (Incorporated by reference to Exhibit 3.1 to our current report on Form 8-K filed with the SEC on November 8, 2023)](https://www.sec.gov/Archives/edgar/data/1657214/000149315223039944/ex3-1.htm) |
| 3.6 | [Certificate of Amendment to Articles of Incorporation of the Registrant (Incorporated by reference to Exhibit 3.1 to our current report on Form 8-K filed with the SEC on March 26, 2025)](https://www.sec.gov/Archives/edgar/data/1657214/000164117225000771/ex3-1.htm) |
| 3.7 | [Articles of Amendment to Articles of Incorporation of the Registrant (Incorporated by reference to Exhibit 3.1 to our current report on Form 8-K filed with the SEC on November 20, 2025)](https://www.sec.gov/Archives/edgar/data/1657214/000149315225024381/ex3-1.htm) |
| 3.8 | [Amended and Restated Certificate of Designations of Series A Convertible Preferred Stock of the Registrant (Incorporated by reference to Exhibit 3.1 to our current report on Form 8-K filed with the SEC on November 20, 2025)](https://www.sec.gov/Archives/edgar/data/1657214/000149315225024381/ex3-1.htm) |
| 3.9 | [Amended and Restated Certificate of Designations of Series C Convertible Preferred Stock of the Registrant (Incorporated by reference to Exhibit 3.1 to our current report on Form 8-K filed with the SEC on November 20, 2025)](https://www.sec.gov/Archives/edgar/data/1657214/000149315225024381/ex3-1.htm) |
| 3.10 | [Articles of Amendment to Articles of Incorporation of the Registrant (Incorporated by reference to Exhibit 3.1 to our current report on Form 8-K filed with the SEC on February 4, 2026)](https://www.sec.gov/Archives/edgar/data/1657214/000149315226005035/ex3-1.htm) |
| 10.1 | [Share Exchange Agreement with ILA Mexico (Incorporated by reference from exhibit 10.1 to amendment #1 to our registration statement on form S-1 filed with the SEC on November 10, 2016)](https://www.sec.gov/Archives/edgar/data/1657214/000112785516000813/ilaiexh10_1.htm) |
| 10.2 | [Letter Agreement with Grupo Valcas/Baja Residents Club, S.A. de C.V. (Incorporated by reference from exhibit 10.2 to amendment #1 to our registration statement on Form S-1 filed with the SEC on November 10, 2016)](https://www.sec.gov/Archives/edgar/data/1657214/000112785516000813/ilaiexh10_2.htm) |
| 10.3 | [Form of Securities Purchase Agreement (Incorporated by reference to Exhibit 10.1 to our current report on Form 8-K filed with the SEC on July 29, 2021)](https://www.sec.gov/Archives/edgar/data/1657214/000149315221018010/ex10-1.htm) |
| 10.4 | [Form of Securities Purchase Agreement (Incorporated by reference to Exhibit 10.2 to our current report on Form 8-K filed with the SEC on July 26, 2023)](https://www.sec.gov/Archives/edgar/data/1657214/000149315223025590/ex10-2.htm) |
| 10.5 | [International Land Alliance, Inc. 2019 Equity Incentive Plan, dated February 12, 2019 (Incorporated by reference to Exhibit 10.1 to our registration statement on Form S-8 filed with the SEC on March 1, 2019)](https://www.sec.gov/Archives/edgar/data/1657214/000149315219002797/ex10-1.htm) |
| 10.6 | [International Land Alliance, Inc. 2024 Stock Incentive Plan, dated November 29, 2024 (Incorporated by reference to Exhibit 4.1 to our registration statement on Form S-8 filed with the SEC on March 31, 2025)](https://www.sec.gov/Archives/edgar/data/1657214/000164117225001896/ex4-1.htm) |
| 10.7\* | [Employment Agreement, dated January 1, 2020, between Roberto Jesus Valdes and the Company](ex10-7.htm) |
| 10.8\* | [Employment Agreement, dated January 1, 2020, between Jason Sunstein and the Company](ex10-8.htm) |
| 10.9\* | [Employment Agreement, dated January 1, 2023, between Frank Ingrande and the Company](ex10-9.htm) |
| 21.1\* | [List of Subsidiaries](ex21-1.htm) |
| 31.1\* | [Certification of Chief Executive Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002](ex31-1.htm) |
| 31.2\* | [Certification of Chief Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002](ex31-2.htm) |
| 32.1\* | [Certification of CEO and CFO pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](ex32-1.htm) |
| 101 | The following materials from the Company's Annual report for the period ended December 31, 2024, formatted in Extensible Business Reporting Language (XBRL). |
| 101.INS | Inline XBRL Taxonomy Extension Instance Document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |

---

\* Filed herein**.**

**Item 16. Form 10-K Summary** 

Not applicable.

**SIGNATURES**

In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the 27<sup>th</sup> day of April, 2026.

---

| | |
|:---|:---|
| INTERNATIONAL LAND ALLIANCE, INC. | INTERNATIONAL LAND ALLIANCE, INC. |
| By: | */s/ Frank Ingrande* |
| Name: | Frank Ingrande |
| Title: | Chief Executive Officer (Principal Executive Officer) |

---

---

| | |
|:---|:---|
| By: | */s/ Jason Sunstein* |
| Name: | Jason Sunstein |
| Title: | Chief Financial Officer (Principal Financial and Accounting Officer) |

---

In accordance with the requirements of the Securities and Exchange Act of 1934, this report has been signed by the following persons on behalf of the Registrant and in the capacities indicated on the dates stated.

---

| | |
|:---|:---|
| **Signature** |  |
| */s/ Frank Ingrande* | Dated: April 27, 2026 |
| Frank Ingrande |  |
| Chief Executive Officer (Principal Executive Officer) |  |
| */s/ Jason Sunstein* | Dated: April 27, 2026 |
| Jason Sunstein |  |
| Chief Financial Officer (Principal Financial and Accounting Officer) and Director |  |
| */s/ Roberto Jesus Valdes* | Dated: April 27, 2026 |
| Roberto Jesus Valdes |  |
| Chairman of the Board |  |
| */s/ Jeffrey S. Healy* | Dated: April 27, 2026 |
| Jeffrey S. Healy |  |
| Director |  |
| */s/ Lori Love* | Dated: April 27, 2026 |
| Lori Love |  |
| Director |  |
| */s/ Curt J. Welker* | Dated: April 27, 2026 |
| Curt J. Welker |  |
| Director |  |

---

## Exhibit 10.9

**Exhibit 10.7**

**EMPLOYMENT AGREEMENT**

THIS AGREEMENT is entered into on January 1, 2020, ("Effective Date") by and between Roberto Jesus Valdes Sanchez (the "Employee") and International Land Alliance, Inc., a Wyoming corporation (the "Company").

**1.** **DUTIES AND SCOPE OF EMPLOYMENT.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **POSITION**.
 For the term of his employment under this Agreement ("Employment"), the Company
 agrees to employ the Employee in the position of President and Chief Executive Officer or
 in such other position as the Company subsequently may assign to the Employee. The Employee
 shall report to the Company's Senior Vice President and Chief Financial Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **DUTIES.** The Employee will manage all finance functions in the Company, with emphasis on fund raising,
 budgets, financial reporting and revenue models. Employee will perform his duties and responsibilities
 to the best of his abilities in a diligent, trustworthy, businesslike and efficient manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **NO CONFLICTING OBLIGATIONS**. The Employee represents and warrants to the Company that he
 may be under obligations or commitments, whether consulting, employment, contractual or otherwise,
 with other companies, but under no circumstances will those commitments be inconsistent with
 his obligations under this Agreement. The Employee represents and warrants that he will not
 use or disclose, in connection with his employment by the Company, any trade secrets or other
 proprietary information or intellectual property in which he or any other person has any
 right, title or interest and that his employment by the Company as contemplated by this Agreement
 will not infringe or violate the rights of any other person. The Employee represents and
 warrants to the Company that he has returned all property and confidential information belonging
 to any prior employer.

**2.** **CASH AND INCENTIVE COMPENSATION.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **SALARY**.
 The Company shall pay the Employee as compensation for his services a base salary at a gross
 annual rate of $120,000 (one hundred twenty thousand dollars) (the "Base Salary").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **AUTO ALLOWANCE**. The Company shall pay the Employee $500 per month for an auto allowance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **INCENTIVE BONUSES**. The Employee shall receive 250,000 shares of common stock and 250,000 options
 to buy additional shares at $.10, registered pursuant to S-8, which will be incorporated
 herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **RELOCATION**.
 The Employee is expected to maintain a primary working place in San Diego, California. Should
 the Company require the Employee to relocate to any other location more than 35 miles from
 San Diego, California, then the Company will reimburse the Employee for temporary living
 costs and travel costs incurred for up to 12 months after the effective date of the change
 of location. The Employee will obtain temporary living facilities at a Residence Inn or equivalent
 lodging convenient to such location as Employee may be assigned. The Employee will make every
 effort to minimize temporary living expenses. The Employee will be afforded all relocation
 benefits afforded other executives of the Company to the extent that the Employee will be
 "kept whole" financially in relocating to such other location as Employee may
 be assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **OTHER**.
 The Employee shall participate in any additional compensation, incentive and benefit programs
 offered by the Company to similarly situated executive Employees. If the Employee elects
 not to participate in the Company sponsored medical, dental and vision benefit program, the
 Company will pay the Employee in cash the Company's cost for providing such programs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **SHARE RESTRICTIONS.** All Shares issued hereunder will have not been registered under the Act
 or under any state securities law. Employee understands that the Shares will be characterized
 as "restricted" securities under federal securities laws and that under such
 laws and applicable regulations such Shares may not be resold without registration except
 in certain limited circumstances. Employee agrees that he will not sell all or any portion
 of the Shares except pursuant to registration under the Act or pursuant to an available exemption
 from registration under the Act. Employee understands and acknowledges that all certificates
 representing the Shares shall bear the following legend or a legend of similar import and
 the Company shall refuse to transfer the Shares except in accordance with such restrictions:

"THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER CERTAIN STATE SECURITIES LAWS. NO SALE OR TRANSFER OF THESE SHARES MAY BE MADE IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR (B) AN OPINION OF COUNSEL ACCEPTABLE TO COMPANY THAT REGISTRATION UNDER THE ACT OR UNDER APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED SALE OR TRANSFER."

3. **VACATION AND EMPLOYEE BENEFITS**. During the term of his Employment, the Employee shall be eligible to take up to four weeks paid vacation per annum in accordance with the Company's standard policy applicable to all of its Employees, as it may be amended from time to time. Any unused vacation time in any calendar year shall not be carried forward to the next calendar year and shall be forfeited. During the term of his Employment, the Employee shall be eligible to participate in any Employee benefit plans maintained by the Company for similarly situated executive Employees, subject in each case to the generally applicable terms and conditions of the plan in question and to the determinations of any person or committee administering such plan.

4. **BUSINESS EXPENSES**. During the term of his Employment, the Employee shall be authorized to incur necessary and reasonable travel, entertainment and other business expenses in connection with his duties hereunder. The Company shall reimburse the Employee for such expenses upon presentation of an itemized account and appropriate supporting documentation, all in accordance with the Company's generally applicable policies. Any single expenditure in excess of $500 shall require the prior approval of the Company's Chief Executive Officer or Chief Financial Officer in the form of the Company's normal travel authorization.

**5.** **TERM OF EMPLOYMENT**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **BASIC RULE**. The Company agrees to continue the Employee's Employment, and the Employee
 agrees to remain in Employment with the Company, from the Effective Date until the earlier
 of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The close of the applicable Initial Term or Renewal Period, as determined under Subsection 5(b) below; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The date when the Employee's Employment terminates pursuant to Subsection 5(c) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **INITIAL TERM AND RENEWAL PERIODS**. The initial term of this Agreement shall end on December 31,
 2025 (the "Initial Term"). Thereafter this Agreement shall automatically be renewed
 for successive 12-month periods (the "Renewal Periods"), unless either party
 has given the other party written notice of non-renewal not less than 45 days prior to the
 close of the Initial Term or Renewal Period then in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **EARLY TERMINATION**. The Employee may terminate his Employment at any time and for any reason
 (or no reason) by giving the Company 30 days' advance notice in writing. The Company
 may terminate the Employee's Employment at any time and for any reason (or no reason),
 and with or without Cause, by giving the Employee 30 days' advance notice in writing.
 The Company may also terminate the Employee's active Employment due to Permanent Disability
 by giving the Employee notice in writing. For all purposes under this Agreement, "Permanent
 Disability" shall mean that the Employee, at the time notice is given, has failed to
 perform his duties under this Agreement for 60 or more consecutive days or for 90 or more
 days during any 12-month period as the result of his incapacity due to physical or mental
 injury, disability or illness. The Employee's Employment shall terminate automatically
 in the event of his death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **EMPLOYMENT AT WILL**. The Employee's Employment with the Company shall be "at will."
 Any contrary representations which may have been made to the Employee shall be superseded
 by this Agreement. This Agreement shall constitute the full and complete agreement between
 the Employee and the Company on the "at will" nature of the Employee's
 Employment, which may only be changed in an express written agreement signed by the Employee
 and a duly authorized officer of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **RIGHTS AND OBLIGATIONS UPON TERMINATION**. Except as expressly provided in Section 6, upon the
 termination of the Employee's Employment pursuant to this Section 5, the Employee shall
 only be entitled to the compensation, benefits and reimbursements described in Sections 2,
 3 and 4 for the period preceding the effective date of the termination. The payments under
 this Agreement shall fully discharge all responsibilities of the Company to the Employee.
 The termination of this Agreement shall not limit or otherwise affect the Employee's
 obligations under Section 7.

**6.** **TERMINATION BENEFITS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **GENERAL RELEASE**. Any other provision of this Agreement notwithstanding, Subsections 6(b) and
 (c) below shall not apply unless the Employee (i) has executed a general release (in a form
 prescribed by the Company) of all known and unknown claims that he may then have against
 the Company or persons affiliated with the Company and (ii) has agreed not to prosecute any
 legal action or other proceeding based upon any of such claims.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **SEVERANCE PAY**. The Company shall pay the Employee the equivalent of his Base Compensation and prorated
 incentive bonus in Section 2(b) above, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company was subject to a Change in Control and, within 12 months thereafter, the Employee resigns for Good Reason or is terminated, two (2) years severance pay is payable in one lump sum; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If Employee is terminated for Cause or this Agreement is not renewed pursuant to Section 5(b), Employee shall not be entitled to any Severance Pay.

Base Compensation under this Subsection 6(b) shall be paid at the rate in effect at the time of the termination of Employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **EMPLOYEE BENEFITS**. If Subsection 6(b) above applies, the Company shall continue the coverage of
 the Employee and then covered dependents (if applicable) under any Employee benefit plans
 described in Section 3 for a period following the effective date of the termination of the
 Employee's employment for a period equal in term to the length of severance pay determined
 in Subsection 6(b) above consistent with the health care continuation requirements of COBRA.
 To the extent that such plans or the insurance contracts or provider agreements associated
 with such plans do not permit the extension of the Employee's coverage following the
 termination of his active employment, the Company shall pay the Employee cash in an amount
 equal to the cost to the Company of the coverage that cannot be provided. The cash payments
 shall be made in accordance with Subsection (b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **ACCELERATED VESTING**. If Subsection 6(b) above applies, the Employee's stock options granted
 in Section 2(c) above by the Company shall be immediately fully vested and exercisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **COBRA**.
 If Subsection 6(b) above applies, and if the Employee elects to continue his health insurance
 coverage under the Consolidated Omnibus Budget Reconciliation Act ("COBRA") following
 the termination of his Employment, then the date of the "qualifying event" for
 purposes of COBRA shall be the Employee's last day of active employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **DEFINITION OF "CAUSE**." For all purposes under this Agreement, "Cause" shall
 mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Employee's misconduct relating to the Company's published policies for conducting the Company's business affairs, if such misconduct continues for 15 days or more after the Company has given the Employee written notice describing such misconduct and advising him of the consequences of such misconduct under this Agreement; provided that such notice shall be required only with respect to the first occurrence of such misconduct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Employee's conviction of, or a plea of "guilty" or "no contest" to, a felony under the laws of the United States or any state thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Employee's failure or refusal to carry out the reasonable directives of the Company, if such failure continues for three days or more after the Company has given the Employee written notice describing such failure and advising him of the consequences of such failure under this Agreement; provided that such notice shall be required only with respect to the first such failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any breach of this Agreement, the Proprietary Information and Inventions Agreement between the Employee and the Company, or any other agreement between the Employee and the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Threats or acts of violence directed at any present, former or prospective Employee, independent contractor, vendor, customer or business partner of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Fraud, dishonesty or embezzlement involving the assets or revenues of the Company or its affiliates, customers or suppliers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **DEFINITION OF "CHANGE IN CONTROL**." For all purposes under this Agreement, "Change
 in Control" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not stockholders of the Company immediately prior to such transaction own immediately after such transaction 50% or more of the voting power of the outstanding securities of each of (A) the continuing or surviving entity and (B) any direct or indirect parent corporation of such continuing or surviving entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The sale, transfer or other disposition of all or substantially all of the Company's assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) A change in the composition of the Board, as a result of which fewer than a majority of the incumbent directors are directors who either (A) had been directors of the Company on the date 24 months prior to the date of the event that may constitute a Change in Control (the "original directors") or (B) were elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the aggregate of the original directors who were still in office at the time of the election or nomination and the directors whose election or nomination was previously so approved provided, however this subsection shall not apply to any change of Directors required in order to comply with the Sarbanes-Oxley Act of 2002, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any transaction as a result of which any person is the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act")), directly or indirectly, of securities of the Company representing more than 50% of the total voting power represented by the Company's then outstanding voting securities. For purposes of this Paragraph (iv), the term "person" shall have the same meaning as when used in sections 13(d) and 14(d) of the Exchange Act but shall exclude (A) a trustee or other fiduciary holding securities under an Employee benefit plan of the Company or of a parent or subsidiary of the Company and (B) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the common stock of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Any change in control required to be reported by Item 1 of Form 8-K of the Securities and Exchange Commission or by Item 6(e) of Schedule 14A set forth in Rule 14a-101 under the Exchange Act (or by any successor of either).

A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company's incorporation or to create a holding Company that will be owned in substantially the same proportions by the persons who held the Company's securities immediately before such transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **DEFINITION OF "GOOD REASON**." For all purposes under this Agreement, "Good Reason"
 shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A significant diminution in the nature or scope of the Employee's authority, duties or responsibilities in effect immediately prior to the Change in Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Any reduction in the rate of the Employee's Base Compensation in effect immediately prior to the Change in Control or a reduction of 10% or more in the value of the Employee's aggregate compensation and benefits in effect immediately prior to the Change in Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The relocation of the Employee's principal place of employment to a site more than 35 miles removed from his principal place of employment immediately prior to the Change in Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) An increase of 25% or more in the average amount of time per month that the Employee is required to take overnight trips from his principal place of employment, relative to the average amount of time per month that the Employee was required to take overnight trips from his principal place of employment immediately prior to the Change in Control.

**7.** **EMPLOYEE'S COVENANTS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **NON-SOLICITATION**.
 During the period commencing on the date of this Agreement and continuing until the second
 anniversary of the date when the Employee's Employment terminated for any reason, the
 Employee shall not directly or indirectly, personally or through others, solicit or attempt
 to solicit (on the Employee's own behalf or on behalf of any other person or entity)
 either (i) the employment of any Employee of the Company or any of the Company's affiliates
 or (ii) the business of any customer of the Company, or of any of the Company's affiliates,
 with whom the Employee had contact during his Employment. During such period, the Employee
 shall not encourage or induce, or take any action that has the effect of encouraging or inducing,
 any Employee of the Company or any of the Company's affiliates to terminate his or
 her employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **NON-DISCLOSURE**.
 The Employee will execute the Company's standard Proprietary Information and Inventions
 Agreement simultaneously with the execution of this Agreement, which is incorporated herein
 by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **NON-COMPETITION**.
 If this Agreement is terminated for any reason, during the twelve month period following
 the effective date when the Employee's employment is terminated, the Employee shall
 not, directly or indirectly (other than on behalf of the Company or with the Company's
 prior written consent, which will not be unreasonably withheld), engage in a Competitive
 Business Activity. The term "Competitive Business Activity" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Engaging in, or managing or directing persons engaged in, any business in which the Company or any of the Company's affiliates is engaged at the time of the termination of the Employee's Employment, whether independently or as an Employee, agent, consultant, advisor, independent contractor, proprietor, partner, officer, director or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Acquiring or having an ownership interest in any entity that derives more than 15% of its gross revenues from any business in which the Company or any of the Company's affiliates is engaged at the time of the termination of the Employee's Employment, except for ownership of 1% or less of any entity whose securities are freely tradable on an established market; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Participating in the financing, operation, management or control of any firm, partnership, corporation, entity or business described in Subsection 7(c)(ii) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **NON-DISPARAGEMENT**.
 If Employee's Employment is terminated for any reason, the Employee shall not directly
 or indirectly, personally or through others, disparage the Company or its management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **INJUNCTIVE RELIEF**. The Employee acknowledges and agrees that his failure to perform any of his covenants
 in this Section 7 would cause irreparable injury to the Company and cause damages to the
 Company that would be difficult or impossible to ascertain or quantify. Accordingly, without
 limiting any other remedies that may be available with respect to any breach of this Agreement,
 the Employee consents to the entry of an injunction to restrain any breach of this Section

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **SURVIVAL**.
 The covenants in this Section 7 shall survive any termination or expiration of this Agreement
 and the termination of the Employee's Employment with the Company for any reason.

**8.** **SUCCESSORS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **COMPANY'S SUCCESSORS**. This Agreement shall be binding upon any successor (whether direct or indirect
 and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or
 substantially all of the Company's business and/or assets. For all purposes under this
 Agreement, the term "Company" shall include any successor to the Company's
 business and/or assets, which become bound by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **EMPLOYEE'S SUCCESSORS**. This Agreement and all rights of the Employee hereunder shall inure to the
 benefit of, and be enforceable by, the Employee's personal or legal representatives,
 executors, administrators, successors, heirs, distributees, devisees and legatees.

**9.** **MISCELLANEOUS PROVISIONS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **NOTICE**.
 Notices and all other communications contemplated by this Agreement shall be in writing and
 shall be deemed to have been duly given when (i) personally delivered, (ii) delivered to
 the U.S. Postal Service for delivery by registered or certified mail or (iii) delivered to
 a comparable private service offering guaranteed deliveries in the ordinary course of its
 business. Notice under clauses (ii) and (iii) shall be valid only if delivery charges have
 been prepaid and a return receipt will be furnished. In the case of the Employee, notice
 under clauses (ii) and (iii) shall be addressed to him at the home address which he most
 recently communicated to the Company in writing. In the case of the Company, notice under
 clauses (ii) and (iii) shall be addressed to its corporate headquarters and directed to the
 attention of its Secretary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **MODIFICATIONS AND WAIVERS**. No provision of this Agreement shall be modified, waived or discharged unless
 the modification, waiver or discharge is agreed to in writing and signed by the Employee
 and by an authorized officer of the Company (other than the Employee). No waiver by either
 party of any breach of, or of compliance with, any condition or provision of this Agreement
 by the other party shall be considered a waiver of any other condition or provision or of
 the same condition or provision at another time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **WHOLE AGREEMENT**. This Agreement supersedes any prior employment agreement between the Employee
 and the Company. No other agreements, representations or understandings (whether oral or
 written and whether express or implied) which are not expressly set forth in this Agreement
 have been made or entered into by either party with respect to the subject matter hereof.
 This Agreement and the Proprietary Information and Inventions Agreement between the Employee
 and the Company contain the entire understanding of the parties with respect to the subject
 matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **WITHHOLDING TAXES**. All payments made under this Agreement shall be subject to reduction to reflect
 taxes or other charges required to be withheld by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **CHOICE OF LAW**. The validity, interpretation, construction and performance of this Agreement
 shall be governed by the laws of the State of California (except their provisions governing
 the choice of law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **SEVERABILITY**.
 The invalidity or unenforceability of any provision or provisions of this Agreement shall
 not affect the validity or enforceability of any other provision hereof, which shall remain
 in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **ARBITRATION**.
 Subject to Section 7(e), any controversy or claim arising out of or relating to this Agreement
 or the breach thereof, or the Employee's Employment or the termination thereof, shall
 be settled in San Diego County, California, by arbitration in accordance with the National
 Rules for the Resolution of Employment Disputes of the American Arbitration Association.
 The decision of the arbitrator shall be final and binding on the parties, and judgment on
 the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.
 The parties hereby agree that the arbitrator shall be empowered to enter an equitable decree
 mandating specific enforcement of the terms of this Agreement. The Company and the Employee
 shall share equally all fees and expenses of the arbitrator; provided, however, that the
 Company or the Employee, as the case may be, shall bear all fees and expenses of the arbitrator
 and all of the legal fees and out-of-pocket expenses of the other party if the arbitrator
 determines that the claim or position of the Company or the Employee, as the case may be,
 was without reasonable foundation. The Employee hereby consents to personal jurisdiction
 of the state and federal courts located in the State of California for any action or proceeding
 arising from or relating to this Agreement or relating to any arbitration in which the parties
 are participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **NO ASSIGNMENT**. This Agreement and all rights and obligations of the Employee hereunder are
 personal to the Employee and may not be transferred or assigned by the Employee at any time.
 The Company may assign its rights under this Agreement to any entity that assumes the Company's
 obligations hereunder in connection with any sale or transfer of all or a substantial portion
 of the Company's assets to such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **COUNTERPARTS**.
 This Agreement may be executed in two or more counterparts, each of which shall be deemed
 an original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.

**INTERNATIONAL LAND ALLIANCE, INC.:**

---

| | |
|:---|:---|
| */s/ Jason Sunstein* | */s/ Jason Sunstein* |
| By: | Jason Sunstein |
| Title: | Sr. Vice President & CFO |

---

**EMPLOYEE:**

---

| |
|:---|
| */s/ Roberto Valdes* |
| Roberto Valdes |

---

## Exhibit 10.10

**Exhibit 10.8**

**EMPLOYMENT AGREEMENT**

THIS AGREEMENT is entered into on January 1, 2020, ("Effective Date") by and between Jason Sunstein (the "Employee") and International Land Alliance, Inc., a Wyoming corporation (the "Company").

**1.** **DUTIES AND SCOPE OF EMPLOYMENT**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **POSITION**.
 For the term of his employment under this Agreement ("Employment"), the Company
 agrees to employ the Employee in the position of Senior Vice President and Chief Financial
 Officer or in such other position as the Company subsequently may assign to the Employee.
 The Employee shall report to the Company's President and Chief Executive Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **DUTIES.** The Employee will manage all finance functions in the Company, with emphasis on fund raising,
 budgets, financial reporting and revenue models. Employee will perform his duties and responsibilities
 to the best of his abilities in a diligent, trustworthy, businesslike and efficient manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **NO CONFLICTING OBLIGATIONS**. The Employee represents and warrants to the Company that he
 may be under obligations or commitments, whether consulting, employment, contractual or otherwise,
 with other companies, but under no circumstances will those commitments be inconsistent with
 his obligations under this Agreement. The Employee represents and warrants that he will not
 use or disclose, in connection with his employment by the Company, any trade secrets or other
 proprietary information or intellectual property in which he or any other person has any
 right, title or interest and that his employment by the Company as contemplated by this Agreement
 will not infringe or violate the rights of any other person. The Employee represents and
 warrants to the Company that he has returned all property and confidential information belonging
 to any prior employer.

**2. CASH AND INCENTIVE COMPENSATION.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **SALARY**.
 The Company shall pay the Employee as compensation for his services a base salary at a gross
 annual rate of $120,000 (one hundred twenty thousand dollars) (the "Base Salary").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **AUTO ALLOWANCE**. The Company shall pay the Employee $500 per month for an auto allowance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **INCENTIVE BONUSES**. The Employee shall receive 250,000 shares of common stock and 250,000 options
 to buy additional shares at $.10, registered pursuant to S-8, which will be incorporated
 herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **RELOCATION**.
 The Employee is expected to maintain a primary working place in San Diego, California. Should
 the Company require the Employee to relocate to any other location more than 35 miles from
 San Diego, California, then the Company will reimburse the Employee for temporary living
 costs and travel costs incurred for up to 12 months after the effective date of the change
 of location. The Employee will obtain temporary living facilities at a Residence Inn or equivalent
 lodging convenient to such location as Employee may be assigned. The Employee will make every
 effort to minimize temporary living expenses. The Employee will be afforded all relocation
 benefits afforded other executives of the Company to the extent that the Employee will be
 "kept whole" financially in relocating to such other location as Employee may
 be assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **OTHER**.
 The Employee shall participate in any additional compensation, incentive and benefit programs
 offered by the Company to similarly situated executive Employees. If the Employee elects
 not to participate in the Company sponsored medical, dental and vision benefit program, the
 Company will pay the Employee in cash the Company's cost for providing such programs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **SHARE RESTRICTIONS.** All Shares issued hereunder will have not been registered under the Act
 or under any state securities law. Employee understands that the Shares will be characterized
 as "restricted" securities under federal securities laws and that under such
 laws and applicable regulations such Shares may not be resold without registration except
 in certain limited circumstances. Employee agrees that he will not sell all or any portion
 of the Shares except pursuant to registration under the Act or pursuant to an available exemption
 from registration under the Act. Employee understands and acknowledges that all certificates
 representing the Shares shall bear the following legend or a legend of similar import and
 the Company shall refuse to transfer the Shares except in accordance with such restrictions:

"THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER CERTAIN STATE SECURITIES LAWS. NO SALE OR TRANSFER OF THESE SHARES MAY BE MADE IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR (B) AN OPINION OF COUNSEL ACCEPTABLE TO COMPANY THAT REGISTRATION UNDER THE ACT OR UNDER APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED SALE OR TRANSFER."

3. **VACATION AND EMPLOYEE BENEFITS**. During the term of his Employment, the Employee shall be eligible to take up to four weeks paid vacation per annum in accordance with the Company's standard policy applicable to all of its Employees, as it may be amended from time to time. Any unused vacation time in any calendar year shall not be carried forward to the next calendar year and shall be forfeited. During the term of his Employment, the Employee shall be eligible to participate in any Employee benefit plans maintained by the Company for similarly situated executive Employees, subject in each case to the generally applicable terms and conditions of the plan in question and to the determinations of any person or committee administering such plan.

4. **BUSINESS EXPENSES**. During the term of his Employment, the Employee shall be authorized to incur necessary and reasonable travel, entertainment and other business expenses in connection with his duties hereunder. The Company shall reimburse the Employee for such expenses upon presentation of an itemized account and appropriate supporting documentation, all in accordance with the Company's generally applicable policies. Any single expenditure in excess of $500 shall require the prior approval of the Company's Chief Executive Officer or Chief Financial Officer in the form of the Company's normal travel authorization.

**5.** **TERM OF EMPLOYMENT**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **BASIC RULE**. The Company agrees to continue the Employee's Employment, and the Employee
 agrees to remain in Employment with the Company, from the Effective Date until the earlier
 of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The close of the applicable Initial Term or Renewal Period, as determined under Subsection 5(b) below; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The date when the Employee's Employment terminates pursuant to Subsection 5(c) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **INITIAL TERM AND RENEWAL PERIODS**. The initial term of this Agreement shall end on December 31,
 2025 (the "Initial Term"). Thereafter this Agreement shall automatically be renewed
 for successive 12-month periods (the "Renewal Periods"), unless either party
 has given the other party written notice of non-renewal not less than 45 days prior to the
 close of the Initial Term or Renewal Period then in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **EARLY TERMINATION**. The Employee may terminate his Employment at any time and for any reason
 (or no reason) by giving the Company 30 days' advance notice in writing. The Company
 may terminate the Employee's Employment at any time and for any reason (or no reason),
 and with or without Cause, by giving the Employee 30 days' advance notice in writing.
 The Company may also terminate the Employee's active Employment due to Permanent Disability
 by giving the Employee notice in writing. For all purposes under this Agreement, "Permanent
 Disability" shall mean that the Employee, at the time notice is given, has failed to
 perform his duties under this Agreement for 60 or more consecutive days or for 90 or more
 days during any 12-month period as the result of his incapacity due to physical or mental
 injury, disability or illness. The Employee's Employment shall terminate automatically
 in the event of his death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **EMPLOYMENT AT WILL**. The Employee's Employment with the Company shall be "at will."
 Any contrary representations which may have been made to the Employee shall be superseded
 by this Agreement. This Agreement shall constitute the full and complete agreement between
 the Employee and the Company on the "at will" nature of the Employee's
 Employment, which may only be changed in an express written agreement signed by the Employee
 and a duly authorized officer of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **RIGHTS AND OBLIGATIONS UPON TERMINATION**. Except as expressly provided in Section 6, upon the
 termination of the Employee's Employment pursuant to this Section 5, the Employee shall
 only be entitled to the compensation, benefits and reimbursements described in Sections 2,
 3 and 4 for the period preceding the effective date of the termination. The payments under
 this Agreement shall fully discharge all responsibilities of the Company to the Employee.
 The termination of this Agreement shall not limit or otherwise affect the Employee's
 obligations under Section 7.

**6.** **TERMINATION BENEFITS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **GENERAL RELEASE**. Any other provision of this Agreement notwithstanding, Subsections 6(b) and
 (c) below shall not apply unless the Employee (i) has executed a general release (in a form
 prescribed by the Company) of all known and unknown claims that he may then have against
 the Company or persons affiliated with the Company and (ii) has agreed not to prosecute any
 legal action or other proceeding based upon any of such claims.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **SEVERANCE PAY**. The Company shall pay the Employee the equivalent of his Base Compensation and prorated
 incentive bonus in Section 2(b) above, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company was subject to a Change in Control and, within 12 months thereafter, the Employee resigns for Good Reason or is terminated, two (2) years severance pay is payable in one lump sum; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If Employee is terminated for Cause or this Agreement is not renewed pursuant to Section 5(b), Employee shall not be entitled to any Severance Pay.

Base Compensation under this Subsection 6(b) shall be paid at the rate in effect at the time of the termination of Employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **EMPLOYEE BENEFITS**. If Subsection 6(b) above applies, the Company shall continue the coverage of
 the Employee and then covered dependents (if applicable) under any Employee benefit plans
 described in Section 3 for a period following the effective date of the termination of the
 Employee's employment for a period equal in term to the length of severance pay determined
 in Subsection 6(b) above consistent with the health care continuation requirements of COBRA.
 To the extent that such plans or the insurance contracts or provider agreements associated
 with such plans do not permit the extension of the Employee's coverage following the
 termination of his active employment, the Company shall pay the Employee cash in an amount
 equal to the cost to the Company of the coverage that cannot be provided. The cash payments
 shall be made in accordance with Subsection (b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **ACCELERATED VESTING**. If Subsection 6(b) above applies, the Employee's stock options granted
 in Section 2(c) above by the Company shall be immediately fully vested and exercisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **COBRA**.
 If Subsection 6(b) above applies, and if the Employee elects to continue his health insurance
 coverage under the Consolidated Omnibus Budget Reconciliation Act ("COBRA") following
 the termination of his Employment, then the date of the "qualifying event" for
 purposes of COBRA shall be the Employee's last day of active employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **DEFINITION OF "CAUSE**." For all purposes under this Agreement, "Cause" shall
 mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Employee's misconduct relating to the Company's published policies for conducting the Company's business affairs, if such misconduct continues for 15 days or more after the Company has given the Employee written notice describing such misconduct and advising him of the consequences of such misconduct under this Agreement; provided that such notice shall be required only with respect to the first occurrence of such misconduct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Employee's conviction of, or a plea of "guilty" or "no contest" to, a felony under the laws of the United States or any state thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Employee's failure or refusal to carry out the reasonable directives of the Company, if such failure continues for three days or more after the Company has given the Employee written notice describing such failure and advising him of the consequences of such failure under this Agreement; provided that such notice shall be required only with respect to the first such failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any breach of this Agreement, the Proprietary Information and Inventions Agreement between the Employee and the Company, or any other agreement between the Employee and the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Threats or acts of violence directed at any present, former or prospective Employee, independent contractor, vendor, customer or business partner of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Fraud, dishonesty or embezzlement involving the assets or revenues of the Company or its affiliates, customers or suppliers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **DEFINITION OF "CHANGE IN CONTROL**." For all purposes under this Agreement, "Change
 in Control" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not stockholders of the Company immediately prior to such transaction own immediately after such transaction 50% or more of the voting power of the outstanding securities of each of (A) the continuing or surviving entity and (B) any direct or indirect parent corporation of such continuing or surviving entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The sale, transfer or other disposition of all or substantially all of the Company's assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) A change in the composition of the Board, as a result of which fewer than a majority of the incumbent directors are directors who either (A) had been directors of the Company on the date 24 months prior to the date of the event that may constitute a Change in Control (the "original directors") or (B) were elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the aggregate of the original directors who were still in office at the time of the election or nomination and the directors whose election or nomination was previously so approved provided, however this subsection shall not apply to any change of Directors required in order to comply with the Sarbanes-Oxley Act of 2002, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any transaction as a result of which any person is the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act")), directly or indirectly, of securities of the Company representing more than 50% of the total voting power represented by the Company's then outstanding voting securities. For purposes of this Paragraph (iv), the term "person" shall have the same meaning as when used in sections 13(d) and 14(d) of the Exchange Act but shall exclude (A) a trustee or other fiduciary holding securities under an Employee benefit plan of the Company or of a parent or subsidiary of the Company and (B) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the common stock of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Any change in control required to be reported by Item 1 of Form 8-K of the Securities and Exchange Commission or by Item 6(e) of Schedule 14A set forth in Rule 14a-101 under the Exchange Act (or by any successor of either).

A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company's incorporation or to create a holding Company that will be owned in substantially the same proportions by the persons who held the Company's securities immediately before such transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **DEFINITION OF "GOOD REASON**." For all purposes under this Agreement, "Good Reason"
 shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A significant diminution in the nature or scope of the Employee's authority, duties or responsibilities in effect immediately prior to the Change in Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Any reduction in the rate of the Employee's Base Compensation in effect immediately prior to the Change in Control or a reduction of 10% or more in the value of the Employee's aggregate compensation and benefits in effect immediately prior to the Change in Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The relocation of the Employee's principal place of employment to a site more than 35 miles removed from his principal place of employment immediately prior to the Change in Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) An increase of 25% or more in the average amount of time per month that the Employee is required to take overnight trips from his principal place of employment, relative to the average amount of time per month that the Employee was required to take overnight trips from his principal place of employment immediately prior to the Change in Control.

**7.** **EMPLOYEE'S COVENANTS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **NON-SOLICITATION**.
 During the period commencing on the date of this Agreement and continuing until the second
 anniversary of the date when the Employee's Employment terminated for any reason, the
 Employee shall not directly or indirectly, personally or through others, solicit or attempt
 to solicit (on the Employee's own behalf or on behalf of any other person or entity)
 either (i) the employment of any Employee of the Company or any of the Company's affiliates
 or (ii) the business of any customer of the Company, or of any of the Company's affiliates,
 with whom the Employee had contact during his Employment. During such period, the Employee
 shall not encourage or induce, or take any action that has the effect of encouraging or inducing,
 any Employee of the Company or any of the Company's affiliates to terminate his or
 her employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **NON-DISCLOSURE**.
 The Employee will execute the Company's standard Proprietary Information and Inventions
 Agreement simultaneously with the execution of this Agreement, which is incorporated herein
 by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **NON-COMPETITION**.
 If this Agreement is terminated for any reason, during the twelve month period following
 the effective date when the Employee's employment is terminated, the Employee shall
 not, directly or indirectly (other than on behalf of the Company or with the Company's
 prior written consent, which will not be unreasonably withheld), engage in a Competitive
 Business Activity. The term "Competitive Business Activity" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Engaging in, or managing or directing persons engaged in, any business in which the Company or any of the Company's affiliates is engaged at the time of the termination of the Employee's Employment, whether independently or as an Employee, agent, consultant, advisor, independent contractor, proprietor, partner, officer, director or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Acquiring or having an ownership interest in any entity that derives more than 15% of its gross revenues from any business in which the Company or any of the Company's affiliates is engaged at the time of the termination of the Employee's Employment, except for ownership of 1% or less of any entity whose securities are freely tradable on an established market; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Participating in the financing, operation, management or control of any firm, partnership, corporation, entity or business described in Subsection 7(c)(ii) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **NON-DISPARAGEMENT**.
 If Employee's Employment is terminated for any reason, the Employee shall not directly
 or indirectly, personally or through others, disparage the Company or its management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **INJUNCTIVE RELIEF**. The Employee acknowledges and agrees that his failure to perform any of his covenants
 in this Section 7 would cause irreparable injury to the Company and cause damages to the
 Company that would be difficult or impossible to ascertain or quantify. Accordingly, without
 limiting any other remedies that may be available with respect to any breach of this Agreement,
 the Employee consents to the entry of an injunction to restrain any breach of this Section

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **SURVIVAL**.
 The covenants in this Section 7 shall survive any termination or expiration of this Agreement
 and the termination of the Employee's Employment with the Company for any reason.

**8.** **SUCCESSORS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **COMPANY'S SUCCESSORS**. This Agreement shall be binding upon any successor (whether direct or indirect
 and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or
 substantially all of the Company's business and/or assets. For all purposes under this
 Agreement, the term "Company" shall include any successor to the Company's
 business and/or assets, which become bound by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **EMPLOYEE'S SUCCESSORS**. This Agreement and all rights of the Employee hereunder shall inure to the
 benefit of, and be enforceable by, the Employee's personal or legal representatives,
 executors, administrators, successors, heirs, distributees, devisees and legatees.

**9.** **MISCELLANEOUS PROVISIONS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **NOTICE**.
 Notices and all other communications contemplated by this Agreement shall be in writing and
 shall be deemed to have been duly given when (i) personally delivered, (ii) delivered to
 the U.S. Postal Service for delivery by registered or certified mail or (iii) delivered to
 a comparable private service offering guaranteed deliveries in the ordinary course of its
 business. Notice under clauses (ii) and (iii) shall be valid only if delivery charges have
 been prepaid and a return receipt will be furnished. In the case of the Employee, notice
 under clauses (ii) and (iii) shall be addressed to him at the home address which he most
 recently communicated to the Company in writing. In the case of the Company, notice under
 clauses (ii) and (iii) shall be addressed to its corporate headquarters and directed to the
 attention of its Secretary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **MODIFICATIONS AND WAIVERS**. No provision of this Agreement shall be modified, waived or discharged unless
 the modification, waiver or discharge is agreed to in writing and signed by the Employee
 and by an authorized officer of the Company (other than the Employee). No waiver by either
 party of any breach of, or of compliance with, any condition or provision of this Agreement
 by the other party shall be considered a waiver of any other condition or provision or of
 the same condition or provision at another time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **WHOLE AGREEMENT**. This Agreement supersedes any prior employment agreement between the Employee
 and the Company. No other agreements, representations or understandings (whether oral or
 written and whether express or implied) which are not expressly set forth in this Agreement
 have been made or entered into by either party with respect to the subject matter hereof.
 This Agreement and the Proprietary Information and Inventions Agreement between the Employee
 and the Company contain the entire understanding of the parties with respect to the subject
 matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **WITHHOLDING TAXES**. All payments made under this Agreement shall be subject to reduction to reflect
 taxes or other charges required to be withheld by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **CHOICE OF LAW**. The validity, interpretation, construction and performance of this Agreement
 shall be governed by the laws of the State of California (except their provisions governing
 the choice of law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **SEVERABILITY**.
 The invalidity or unenforceability of any provision or provisions of this Agreement shall
 not affect the validity or enforceability of any other provision hereof, which shall remain
 in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **ARBITRATION**.
 Subject to Section 7(e), any controversy or claim arising out of or relating to this Agreement
 or the breach thereof, or the Employee's Employment or the termination thereof, shall
 be settled in San Diego County, California, by arbitration in accordance with the National
 Rules for the Resolution of Employment Disputes of the American Arbitration Association.
 The decision of the arbitrator shall be final and binding on the parties, and judgment on
 the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.
 The parties hereby agree that the arbitrator shall be empowered to enter an equitable decree
 mandating specific enforcement of the terms of this Agreement. The Company and the Employee
 shall share equally all fees and expenses of the arbitrator; provided, however, that the
 Company or the Employee, as the case may be, shall bear all fees and expenses of the arbitrator
 and all of the legal fees and out-of-pocket expenses of the other party if the arbitrator
 determines that the claim or position of the Company or the Employee, as the case may be,
 was without reasonable foundation. The Employee hereby consents to personal jurisdiction
 of the state and federal courts located in the State of California for any action or proceeding
 arising from or relating to this Agreement or relating to any arbitration in which the parties
 are participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **NO ASSIGNMENT**. This Agreement and all rights and obligations of the Employee hereunder are
 personal to the Employee and may not be transferred or assigned by the Employee at any time.
 The Company may assign its rights under this Agreement to any entity that assumes the Company's
 obligations hereunder in connection with any sale or transfer of all or a substantial portion
 of the Company's assets to such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **COUNTERPARTS**.
 This Agreement may be executed in two or more counterparts, each of which shall be deemed
 an original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.

**INTERNATIONAL LAND ALLIANCE, INC.:**

---

| | |
|:---|:---|
| */s/ Roberto Valdes* | */s/ Roberto Valdes* |
| By: | Roberto Valdes |
| Title: | President & CEO |

---

**EMPLOYEE:**

---

| |
|:---|
| */s/ Jason Sunstein* |
| Jason Sunstein |

---

## Exhibit 10.11

**Exhibit 10.9**

**EMPLOYMENT AGREEMENT**

THIS AGREEMENT is entered into on January 1, 2023 ("Effective Date") by and between Frank Ingrande (the "Employee") and International Land Alliance, Inc., a Wyoming corporation (the "Company").

1. **DUTIES AND SCOPE OF EMPLOYMENT.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **POSITION**.
 For the term of his employment under this Agreement ("Employment"), the Company
 agrees to employ the Employee in the position of President or in such other position as the
 Company subsequently may assign to the Employee. The Employee shall report to the Company's
 Chief Executive Officer.

(b) **DUTIES.** The Employee will manage all finance functions in the Company, with emphasis on operations,
 including, but not limited to, sales and marketing, construction, budgets, financial reporting
 and revenue models. Employee will perform his duties and responsibilities to the best of
 his abilities in a diligent, trustworthy, businesslike and efficient manner.

(c) **NO CONFLICTING OBLIGATIONS**. The Employee represents and warrants to the Company that he
 may be under obligations or commitments, whether consulting, employment, contractual or otherwise,
 with other companies, but under no circumstances will those commitments be inconsistent with
 his obligations under this Agreement. The Employee represents and warrants that he will not
 use or disclose, in connection with his employment by the Company, any trade secrets or other
 proprietary information or intellectual property in which he or any other person has any
 right, title or interest and that his employment by the Company as contemplated by this Agreement
 will not infringe or violate the rights of any other person. The Employee represents and
 warrants to the Company that he has returned all property and confidential information belonging
 to any prior employer.

2. **CASH AND INCENTIVE COMPENSATION.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **SALARY**.
 The Company shall pay the Employee as compensation for his services a base salary at a gross
 annual rate of $120,000 (one hundred twenty thousand dollars) (the "Base Salary").

(b) **AUTO ALLOWANCE**. The Company shall pay the Employee $500 per month for an auto allowance.

**(c)** **INCENTIVE BONUS.** The Employee shall receive $865,000 payable in shares of the Company's common stock and issued pro rate over term
 of Employment.

**(d)** **RELOCATION**.
 The Employee is expected to maintain a primary working place in San Diego, California. Should
 the Company require the Employee to relocate to any other location more than 35 miles from
 San Diego, California, then the Company will reimburse the Employee for temporary living
 costs and travel costs incurred for up to 12 months after the effective date of the change
 of location. The Employee will obtain temporary living facilities at a Residence Inn or equivalent
 lodging convenient to such location as Employee may be assigned. The Employee will make every
 effort to minimize temporary living expenses. The Employee will be afforded all relocation
 benefits afforded other executives of the Company to the extent that the Employee will be
 "kept whole" financially in relocating to such other location as Employee may
 be assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)** **OTHER**.
 The Employee shall participate in any additional compensation, incentive and benefit programs
 offered by the Company to similarly situated executive Employees. If the Employee elects
 not to participate in the Company sponsored medical, dental and vision benefit program, the
 Company will pay the Employee in cash the Company's cost for providing such programs.

**(f)** **SHARE RESTRICTIONS.** Except as outlined in Paragraph 2. (b) above, all additional shares of
 common stock issued hereunder will have not been registered under the Act or under any state
 securities law. Employee understands that the Shares will be characterized as "restricted"
 securities under federal securities laws and that under such laws and applicable regulations
 such Shares may not be resold without registration except in certain limited circumstances.
 Employee agrees that he will not sell all or any portion of the Shares except pursuant to
 registration under the Act or pursuant to an available exemption from registration under
 the Act. Employee understands and acknowledges that all certificates representing the Shares
 shall bear the following legend or a legend of similar import and the Company shall refuse
 to transfer the Shares except in accordance with such restrictions:

"THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER CERTAIN STATE SECURITIES LAWS. NO SALE OR TRANSTER OF THESE SHARES MAY BE MADE IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR (B) AN OPINION OF COUNSEL ACCEPTABLE TO COMPANY THAT REGISTRATION UNDER THE ACT OR UNDER APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED SALE OR TRANSFER."

3. **VACATION AND EMPLOYEE BENEFITS**. During the term of his Employment, the Employee shall be eligible to take up to four weeks paid vacation per annum in accordance with the Company's standard policy applicable to all of its Employees, as it may be amended from time to time. Any unused vacation time in any calendar year shall not be carried forward to the next calendar year and shall be forfeited. During the term of his Employment, the Employee shall be eligible to participate in any Employee benefit plans maintained by the Company for similarly situated executive Employees, subject in each case to the generally applicable terms and conditions of the plan in question and to the determinations of any person or committee administering such plan.

4. **BUSINESS EXPENSES**. During the term of his Employment, the Employee shall be authorized to incur necessary and reasonable travel, entertainment and other business expenses in connection with his duties hereunder. The Company shall reimburse the Employee for such expenses upon presentation of an itemized account and appropriate supporting documentation, all in accordance with the Company's generally applicable policies. Any single expenditure in excess of $500 shall require the prior approval of the Company's Chief Executive Officer or Chief Financial Officer in the form of the Company's normal travel authorization.

5. **TERM OF EMPLOYMENT.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **BASIC RULE**. The Company agrees to continue the Employee's Employment, and the Employee
 agrees to remain in Employment with the Company, from the Effective Date until the earlier
 of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The close of the applicable Initial Term or Renewal Period, as determined under Subsection 5(b) below; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii) The date when the Employee's Employment terminates pursuant to Subsection 5(c) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **INITIAL TERM AND RENEWAL PERIODS**. The initial term of this Agreement shall end on January 1,
 2028 (the "Initial Term"). Thereafter this Agreement shall automatically be renewed
 for successive 12-month periods (the "Renewal Periods"), unless either party
 has given the other party written notice of non-renewal not less than 45 days prior to the
 close of the Initial Term or Renewal Period then in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **EARLY TERMINATION**. The Employee may terminate his Employment at any time and for any reason
 (or no reason) by giving the Company 30 days' advance notice in writing. The Company
 may terminate the Employee's Employment at any time and for any reason (or no reason),
 and with or without Cause, by giving the Employee 30 days' advance notice in writing.
 The Company may also terminate the Employee's active Employment due to Permanent Disability
 by giving the Employee notice in writing. For all purposes under this Agreement, "Permanent
 Disability" shall mean that the Employee, at the time notice is given, has failed to
 perform his duties under this Agreement for 60 or more consecutive days or for 90 or more
 days during any 12-month period as the result of his incapacity due to physical or mental
 injury, disability or illness. The Employee's Employment shall terminate automatically
 in the event of his death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **EMPLOYMENT AT WILL**. The Employee's Employment with the Company shall be "at will."
 Any contrary representations which may have been made to the Employee shall be superseded
 by this Agreement. This Agreement shall constitute the full and complete agreement between
 the Employee and the Company on the "at will" nature of the Employee's
 Employment, which may only be changed in an express written agreement signed by the Employee
 and a duly authorized officer of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **RIGHTS AND OBLIGATIONS UPON TERMINATION**. Except as expressly provided in Section 6, upon the
 termination of the Employee's Employment pursuant to this Section 5, the Employee shall
 only be entitled to the compensation, benefits and reimbursements described in Sections 2,
 3 and 4 for the period preceding the effective date of the termination. The payments under
 this Agreement shall fully discharge all responsibilities of the Company to the Employee.
The termination of this Agreement shall not limit or otherwise affect the Employee's obligations under Section 7.

6. **TERMINATION BENEFITS.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **GENERAL RELEASE**. Any other provision of this Agreement notwithstanding, Subsections 6(b) and
 (c) below shall not apply unless the Employee (i) has executed a general release (in a form
 prescribed by the Company) of all known and unknown claims that he may then have against
 the Company or persons affiliated with the Company and (ii) has agreed not to prosecute any
 legal action or other proceeding based upon any of such claims.

(b) **SEVERANCE PAY**. The Company shall pay the Employee the equivalent of his Base Compensation and prorated
 incentive bonus in Section 2(b) above, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) The Company was subject to a Change in Control and, within 12 months thereafter, the Employee resigns for Good Reason or is terminated, two (2) years severance pay is payable in one lump sum; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If Employee is terminated for Cause or this Agreement is not renewed pursuant to Section 5(b), Employee shall not be entitled to any Severance Pay.

Base Compensation under this Subsection 6(b) shall be paid at the rate in effect at the time of the termination of Employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **EMPLOYEE BENEFITS**. If Subsection 6(b) above applies, the Company shall continue the coverage of
 the Employee and then covered dependents (if applicable) under any Employee benefit plans
 described in Section 3 for a period following the effective date of the termination of the
 Employee's employment for a period equal in term to the length of severance pay determined
 in Subsection 6(b) above consistent with the health care continuation requirements of COBRA.
 To the extent that such plans or the insurance contracts or provider agreements associated
 with such plans do not permit the extension of the Employee's coverage following the
 termination of his active employment, the Company shall pay the Employee cash in an amount
 equal to the cost to the Company of the coverage that cannot be provided. The cash payments
 shall be made in accordance with Subsection (b) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **COBRA**.
 If Subsection 6(b) above applies, and if the Employee elects to continue his health insurance
 coverage under the Consolidated Omnibus Budget Reconciliation Act ("COBRA") following
 the termination of his Employment, then the date of the "qualifying event" for
 purposes of COBRA shall be the Employee's last day of active employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **DEFINITION OF "CAUSE**." For all purposes under this Agreement, "Cause" shall
 mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Employee's misconduct relating to the Company's published policies for conducting the Company's business affairs, if such misconduct continues for 15 days or more after the Company has given the Employee written notice describing such misconduct and advising him of the consequences of such misconduct under this Agreement; provided that such notice shall be required only with respect to the first occurrence of such misconduct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Employee's conviction of, or a plea of "guilty" or "no contest" to, a felony under the laws of the United States or any state thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Employee's failure or refusal to carry out the reasonable directives of the Company, if such failure continues for three days or more after the Company has given the Employee written notice describing such failure and advising him of the consequences of such failure under this Agreement; provided that such notice shall be required only with respect to the first such failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any breach of this Agreement, the Proprietary Information and Inventions Agreement between the Employee and the Company, or any other agreement between the Employee and the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Threats or acts of violence directed at any present, former or prospective Employee, independent contractor, vendor, customer or business partner of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Fraud, dishonesty or embezzlement involving the assets or revenues of the Company or its affiliates, customers or suppliers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **DEFINITION OF "CHANGE IN CONTROL**." For all purposes under this Agreement, "Change
 in Control" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not stockholders of the Company immediately prior to such transaction own immediately after such transaction 50% or more of the voting power of the outstanding securities of each of (A) the continuing or surviving entity and (B) any direct or indirect parent corporation of such continuing or surviving entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The sale, transfer or other disposition of all or substantially all of the Company's assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) A change in the composition of the Board, as a result of which fewer than a majority of the incumbent directors are directors who either (A) had been directors of the Company on the date 24 months prior to the date of the event that may constitute a Change in Control (the "original directors") or (B) were elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the aggregate of the original directors who were still in office at the time of the election or nomination and the directors whose election or nomination was previously so approved provided, however this subsection shall not apply to any change of Directors required in order to comply with the Sarbanes-Oxley Act of 2002, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iv) Any transaction as a result of which any person is the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act")), directly or indirectly, of securities of the Company representing more than 50% of the total voting power represented by the Company's then outstanding voting securities. For purposes of this Paragraph (iv), the term "person" shall have the same meaning as when used in sections 13(d) and 14(d) of the Exchange Act but shall exclude (A) a trustee or other fiduciary holding securities under an Employee benefit plan of the Company or of a parent or subsidiary of the Company and (B) a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the common stock of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Any change in control required to be reported by Item 1 of Form 8-K of the Securities and Exchange Commission or by Item 6(e) of Schedule 14A set forth in Rule 14a-101 under the Exchange Act (or by any successor of either).

A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company's incorporation or to create a holding Company that will be owned in substantially the same proportions by the persons who held the Company's securities immediately before such transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **DEFINITION OF "GOOD REASON**." For all purposes under this Agreement, "Good Reason"
 shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (h) A significant diminution in the nature or scope of the Employee's authority, duties or responsibilities in effect immediately prior to the Change in Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Any reduction in the rate of the Employee's Base Compensation in effect immediately prior to the Change in Control or a reduction of 10% or more in the value of the Employee's aggregate compensation and benefits in effect immediately prior to the Change in Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The relocation of the Employee's principal place of employment to a site more than 35 miles removed from his principal place of employment immediately prior to the Change in Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) An increase of 25% or more in the average amount of time per month that the Employee is required to take overnight trips from his principal place of employment, relative to the average amount of time per month that the Employee was required to take overnight trips from his principal place of employment immediately prior to the Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **EMPLOYEE'S COVENANTS.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **NON-SOLICITATION**.
 During the period commencing on the date of this Agreement and continuing until the second
 anniversary of the date when the Employee's Employment terminated for any reason, the
 Employee shall not directly or indirectly, personally or through others, solicit or attempt
 to solicit (on the Employee's own behalf or on behalf of any other person or entity)
 either (i) the employment of any Employee of the Company or any of the Company's affiliates
 or (ii) the business of any customer of the Company, or of any of the Company's affiliates,
 with whom the Employee had contact during his Employment. During such period, the Employee
 shall not encourage or induce, or take any action that has the effect of encouraging or inducing,
 any Employee of the Company or any of the Company's affiliates to terminate his or
 her employment.

(b) **NON-DISCLOSURE**.
 The Employee will execute the Company's standard Proprietary Information and Inventions
 Agreement simultaneously with the execution of this Agreement, which is incorporated herein
 by reference.

(c) **NON-COMPETITION**.
 If this Agreement is terminated for any reason, during the twelve month period following
 the effective date when the Employee's employment is terminated, the Employee shall
 not, directly or indirectly (other than on behalf of the Company or with the Company's
 prior written consent, which will not be unreasonably withheld), engage in a Competitive
 Business Activity. The term "Competitive Business Activity" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) Engaging in, or managing or directing persons engaged in, any business in which the Company or any of the Company's affiliates is engaged at the time of the termination of the Employee's Employment, whether independently or as an Employee, agent, consultant, advisor, independent contractor, proprietor, partner, officer, director or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Acquiring or having an ownership interest in any entity that derives more than 15% of its gross revenues from any business in which the Company or any of the Company's affiliates is engaged at the time of the termination of the Employee's Employment, except for ownership of 1% or less of any entity whose securities are freely tradable on an established market; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Participating in the financing, operation, management or control of any firm, partnership, corporation, entity or business described in Subsection 7(c)(ii) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) However,
 in the event that the acquisition by the Company of 75% of Rancho Costa Verde Development,
 LLC, as set forth in that certain Securities Purchase Agreement dated December 28, 2022,
 is not completed on or before March 31, 2024 (the "Termination of RCVD Agreement"),
 it is specifically understood and agreed that upon the Termination of the RCVD Agreement,
 the Employee's employment will be terminated and all Employee rights, obligations and
 benefits will be governed by Section (5) Early Termination, nothing in this section 7(c)
 Non-Competition provision shall prohibit Employee from the business of selling lots and/or
 house construction on the lots at the Rancho Costa Verde project in San Felipe, Mexico.

(e) **NON-DISPARAGEMENT**.
 If Employee's Employment is terminated for any reason, the Employee shall not directly
 or indirectly, personally or through others, disparage the Company or its management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **INJUNCTIVE RELIEF**. The Employee acknowledges and agrees that his failure to perform any of his covenants
 in this Section 7 would cause irreparable injury to the Company and cause damages to the
 Company that would be difficult or impossible to ascertain or quantify. Accordingly, without
 limiting any other remedies that may be available with respect to any breach of this Agreement,
 the Employee consents to the entry of an injunction to restrain any breach of this Section

(g) **SURVIVAL**.
 The covenants in this Section 7 shall survive any termination or expiration of this Agreement
 and the termination of the Employee's Employment with the Company for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **SUCCESSORS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **COMPANY'S SUCCESSORS**. This Agreement shall be binding upon any successor (whether direct or indirect
 and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or
 substantially all of the Company's business and/or assets. For all purposes under this
 Agreement, the term "Company" shall include any successor to the Company's
 business and/or assets, which become bound by this Agreement.

(b) **EMPLOYEE'S SUCCESSORS**. This Agreement and all rights of the Employee hereunder shall inure to the
 benefit of, and be enforceable by, the Employee's personal or legal representatives,
 executors, administrators, successors, heirs, distributees, devisees and legatees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **MISCELLANEOUS PROVISIONS.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **NOTICE**.
 Notices and all other communications contemplated by this Agreement shall be in writing and
 shall be deemed to have been duly given when (i) personally delivered, (ii) delivered to
 the U.S. Postal Service for delivery by registered or certified mail or (iii) delivered to
 a comparable private service offering guaranteed deliveries in the ordinary course of its
 business. Notice under clauses (ii) and (iii) shall be valid only if delivery charges have
 been prepaid and a return receipt will be furnished. In the case of the Employee, notice
 under clauses (ii) and (iii) shall be addressed to him at the home address which he most
 recently communicated to the Company in writing. In the case of the Company, notice under
 clauses (ii) and (iii) shall be addressed to its corporate headquarters and directed to the
 attention of its Secretary.

(b) **MODIFICATIONS AND WAIVERS**. No provision of this Agreement shall be modified, waived or discharged unless
 the modification, waiver or discharge is agreed to in writing and signed by the Employee
 and by an authorized officer of the Company (other than the Employee). No waiver by either
 party of any breach of, or of compliance with, any condition or provision of this Agreement
 by the other
party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

(c) **WHOLE AGREEMENT**. This Agreement supersedes any prior employment agreement between the Employee
 and the Company. No other agreements, representations or understandings (whether oral or
 written and whether express or implied) which are not expressly set forth in this Agreement
 have been made or entered into by either party with respect to the subject matter hereof.
 This Agreement and the Proprietary Information and Inventions Agreement between the Employee
 and the Company contain the entire understanding of the parties with respect to the subject
 matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **WITHHOLDING TAXES**. All payments made under this Agreement shall be subject to reduction to reflect
 taxes or other charges required to be withheld by law.

(e) **CHOICE OF LAW**. The validity, interpretation, construction and performance of this Agreement
 shall be governed by the laws of the State of California (except their provisions governing
 the choice of law).

(f) **SEVERABILITY**.
 The invalidity or unenforceability of any provision or provisions of this Agreement shall
 not affect the validity or enforceability of any other provision hereof, which shall remain
 in full force and effect.

(h) **NO ASSIGNMENT**. This Agreement and all rights and obligations of the Employee hereunder are
 personal to the Employee and may not be transferred or assigned by the Employee at any time.
 The Company may assign its rights under this Agreement to any entity that assumes the Company's
 obligations hereunder in connection with any sale or transfer of all or a substantial portion
 of the Company's assets to such entity.

(i) **COUNTERPARTS**.
 This Agreement may be executed in two or more counterparts, each of which shall be deemed
 an original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.

---

| | |
|:---|:---|
| **INTERNATIONAL LAND ALLIANCE, INC.**: | **INTERNATIONAL LAND ALLIANCE, INC.**: |
| */s/ Roberto Valdes* | */s/ Roberto Valdes* |
| By: | Roberto Valdes |
| Title: | CEO |

---

---

| |
|:---|
| **EMPLOYEE:** |
| */s/ Frank Ingrande* |
| Frank Ingrande |

---

## Exhibit 21.1

**Exhibit 21.1**

**List of Subsidiaries of International Land Alliance, Inc.**

---

| | |
|:---|:---|
| **Name** | **State or Other Jurisdiction of Incorporation or Organization** |
| ILA Fund I, LLC | Wyoming |
| International Land Alliance, S.A. de C.V. (ILA Mexico) | Mexico |
| Rancho Costa Verde Development, LLC | Nevada |
| Emerald Grove Estates, LLC | California |
| Oasis Park Resort, LLC | Wyoming |
| Plaza Bajamar, LLC | Wyoming |
| Plaza Valle Divino, LLC | Wyoming |

---

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION**

I, Frank Ingrande, certify that:

1. I
 have reviewed this annual report on Form 10-K of International Land Alliance, 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 presented in
 this report;

4. The
 registrant's other certifying officer 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)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;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.

5. The
 registrant's other certifying officer 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 registrant's board of directors (or persons performing
 the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;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 involves management or other employees who have a significant role in the registrant's
 internal control over financial reporting.

---

| |
|:---|
| */s/ Frank Ingrande* |
| Frank Ingrande |
| Principal Executive Officer and President |
| April 27, 2026 |

---

## Exhibit 31.2

**EXHIBIT 31.2**

**CERTIFICATION**

I, Jason Sunstein, certify that:

1. I
 have reviewed this annual report on Form 10-K of International Land Alliance, 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 presented in
 this report;

4. The
 registrant's other certifying officer 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)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;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.

5. The
 registrant's other certifying officer 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 registrant's board of directors (or persons performing
 the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;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 involves management or other employees who have a significant role in the registrant's
 internal control over financial reporting.

---

| |
|:---|
| */s/ Jason Sunstein* |
| Jason Sunstein |
| Principal Financial and Accounting Officer and a Director |
| April 27, 2026 |

---

## Exhibit 32.1

**EXHIBIT 32.1**

**CERTIFICATION 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 report of International Land Alliance, Inc. (the "Company") on Form 10-K for the period ending December 31, 2025, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), each of the undersigned, in the capacities and on the dates indicated below, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

(1) The
 Report 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 the Report fairly presents, in all material respects, the financial condition and results of operations
 of the Company.

---

| |
|:---|
| */s/ Frank Ingrande* |
| Frank Ingrande |
| Principal Executive Officer and a Director |
| April 27, 2026 |
| */s/ Jason Sunstein* |
| Jason Sunstein |
| Principal Financial and Accounting Officer and a Director |
| April 27, 2026 |

---