International Land Alliance Announces Year End 2023 Results

Rhea-AI Summary

International Land Alliance (OTCQB: ILAL) announced its 2023 year-end financial results, showcasing significant growth. The company's annual sales volume reached $7.1 million, marking a substantial increase. Total assets soared from $1.1 million in 2022 to $30 million in 2023, and current assets rose from $100,000 to $1.8 million. According to CEO Frank Ingrande, Q4 2023 sales volume alone surpassed all previous revenue combined. The company successfully consolidated operations at Rancho Costa Verde and transitioned to a new independent auditor. Despite inflationary and currency exchange challenges, ILAL achieved notable revenue growth and reinvested in its business. ILAL focuses on acquiring raw land in Northern Baja California, leveraging technology for sustainable and socially responsible development.

Positive

• Annual sales volume increased to $7.1 million in 2023.
• Total assets grew from $1.1 million in 2022 to $30 million in 2023.
• Current assets rose from $100,000 in 2022 to $1.8 million in 2023.
• Q4 2023 sales volume exceeded all previous revenue combined.
• Successful consolidation of operations at Rancho Costa Verde.
• Transitioned to a new independent auditor.
• Mitigated inflationary and currency exchange rate pressures.

Negative

• None.

SAN DIEGO, CALIFORNIA, June 28, 2024 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, reported results for the year ended December 31, 2023.

2023 Highlights

• Annual sales volume of $7.1 million
• Total Assets increased from $1.1 million in 2022 to $30 million in 2023
• Current Assets increased from $100,000 in 2022 to $1.8 million in 2023
  

“ILAL’s sales revenue in Q4 2023 represents volume that exceeds all revenue reported to date combined," said President and CEO Frank Ingrande. "These results show that our growth and development strategies are beginning to come to fruition."

Ingrande continued, "I'm especially proud of all parties involved that have navigated in what continues to be a dynamic operating environment, accomplished the consolidation of operations and financial reporting of Rancho Costa Verde, along with successfully changing our independent auditor. We have mitigated inflationary and currency exchange rate pressures and achieved successful revenue growth while reinvesting in our business."

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 total assets for 2023?

International Land Alliance's total assets for 2023 were $30 million, up from $1.1 million in 2022.

How much did ILAL's annual sales volume reach in 2023?

ILAL's annual sales volume reached $7.1 million in 2023.

What was the increase in ILAL's current assets from 2022 to 2023?

ILAL's current assets increased from $100,000 in 2022 to $1.8 million in 2023.

Who is the CEO of International Land Alliance?

The CEO of International Land Alliance is Frank Ingrande.

What significant operational achievement did ILAL accomplish in 2023?

ILAL successfully consolidated operations and financial reporting of Rancho Costa Verde in 2023.