International Land Alliance Announces Second Quarter Results

Rhea-AI Summary

International Land Alliance (OTCQB:ILAL) reported its Q2 2024 unaudited results, showing significant improvements:

- Quarterly sales volume increased to $740,000 from $485,000 in Q2 2023
- Net loss reduced to $20,000 from $440,000 in Q2 2023
- Sales for the first six months of 2024 reached $5,830,000 with a net income of $3,630,000
- Total assets grew to $30.6 million
- Total stockholders' equity rose to $14.9 million

CEO Frank Ingrande emphasized the company's focus on thoughtful growth and selective resource deployment into high-quality opportunities. ILAL, based in San Diego, specializes in acquiring raw land in Northern Baja California, leveraging technology for sustainable and socially responsible development solutions.

Positive

• Quarterly sales volume increased by 52.6% year-over-year to $740,000
• Net loss significantly reduced by 95.5% to $20,000 compared to Q2 2023
• Strong first half 2024 performance with $5,830,000 in sales and $3,630,000 net income
• Total assets grew to $30.6 million
• Total stockholders' equity increased to $14.9 million

Negative

• Company still reported a net loss of $20,000 for Q2 2024

SAN DIEGO, CALIFORNIA, Aug. 27, 2024 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, reported unaudited results for the second quarter ended June 30, 2024.

Q2 2024 Highlights

• Quarterly sales volume of $740,000 compared to $485,000 for the same period last year
• Net loss of $20,000 compared to a loss of $440,000 for the same period last year
• Sales for the six months ended of $5,830,000 and net income of $3,630,000
• Total Assets increased to $30.6 million
• Total stockholders’ equity increased to $14.9 million
  

Frank Ingrande, ILAL’s President and CEO, commented: As we focus on 2024 and beyond, I am energized by the strong position we have established through our continued emphasis on thoughtful growth. To date, our 2024 results demonstrate our expertise in selectively deploying resources into High quality opportunities that support continued stability and long-term earnings.

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
Jason@ila.company

FAQ

What were International Land Alliance's (ILAL) Q2 2024 sales figures?

International Land Alliance (ILAL) reported quarterly sales volume of $740,000 for Q2 2024, compared to $485,000 for the same period last year, representing a 52.6% increase.

How did ILAL's net income change in Q2 2024 compared to Q2 2023?

ILAL's net loss significantly improved in Q2 2024, reducing to $20,000 compared to a loss of $440,000 for the same period last year, a 95.5% reduction in net loss.

What were International Land Alliance's (ILAL) sales and net income for the first half of 2024?

For the first six months of 2024, ILAL reported sales of $5,830,000 and a net income of $3,630,000.

How much did International Land Alliance's (ILAL) total assets and stockholders' equity increase to in Q2 2024?

As of Q2 2024, ILAL's total assets increased to $30.6 million, and total stockholders' equity rose to $14.9 million.