Revenues reach new all time record
SAN DIEGO, CALIFORNIA, July 10, 2024 (GLOBE NEWSWIRE) — International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, reported results for the first quarter ended March 31, 2024.
Q1 2024 Highlights
- Quarterly sales volume of $5.1 million
- Net Income of $3.7 million or $0.05 per diluted share
- Total Assets increased to $30.4 million
- Current Assets increased to $1.7 million
- Total stockholders’ equity increased to $14.4 million
Frank Ingrande, ILAL’s President and CEO, commented:
We are happy to have delivered record revenue and profitability last quarter. Our strategic growth initiatives as well as focusing on operational and financial efficiencies have driven this improved performance. Furthermore, the adopted efficiencies and revenue recognition policies are allowing us to significantly reduce deferred revenue and realize most of the sales revenue in reported periods. We intend to build on this momentum in 2024 and beyond.
About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB: ILAL) is an international land investment and development firm based in San Diego, California. As its’ core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.
Safe Harbor Statement
The press release may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as “may,” “expects,” “believes,” “anticipates,” “intends,” “projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.
CONTACT:
Jason Sunstein, CFO
Jason@ila.company
