VAYK's Q2 Profit Added to Accumulated Net Profit of Over $2.2 Million In 18 Months
Rhea-AI Summary
Vaycaychella (OTC Pink: VAYK) reported a net profit of $310,550 for Q2 2024, contributing to a total net profit of over $2.2 million in the past 18 months. The company's focus on the domestic short-term rental market has yielded positive results, with $281,940 net profit for the first half of 2024 and $2.05 million for the entire year 2023.
VAYK has not issued any unrestricted shares since May 2022, maintaining shareholder value. The company aims to generate operational revenue starting August 2024 and targets operational profitability by Q4 2024. VAYK's goal is to build a $20 million portfolio of short-term rental properties under management.
Positive
- Net profit of $310,550 for Q2 2024
- Accumulated net profit of over $2.2 million in the past 18 months
- No issuance of unrestricted shares since May 2022
- Targeting operational profitability by Q4 2024
- Goal to build a $20 million portfolio of short-term rental properties
Negative
- No operational revenue generated yet
- Net income primarily from exiting previous investments and restructuring
News Market Reaction 1 Alert
On the day this news was published, VAYK gained 12.50%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Net Profit Added to Over
Its net profit for the first half of 2024 is reported at
The company reported
"This is a clear statement of our achievements since we refocused our business strategy to domestic short-term rental (such as Airbnb) market," asserts Stephanie Anderl, Interim CEO of VAYK. "Our next goal is to generate operational profit, which will help us to reach our goal of a
No Free-tradable Shares Issued In More Than 2 Years
The filing also confirmed that the company had not issued any unrestricted shares for the whole fiscal year of 2023. In fact, last time the company issued any unrestricted shares was back in May 2022, more than two years ago.
The only issuance of new shares during the fiscal year of 2023 was 43 million restricted shares issued to a former consultant to settle unpaid compensations. These shares are not free-tradable, and the issuance price is
Expecting Operational Revenue to Start from This Month
Ms. Anderl cautions that net income in the past 10 months is mostly from exiting previous investment and restructuring of investments. The company has not yet posted any operative revenue, as its new business plan has only been implemented since March 2024.
"We expect our operative revenue to start flowing in, from this month," declares Anderl. "And we aim to turn the company operationally profitable in Q4 this year."
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
VAYK Contact:
+1 470-804-7144
View original content:https://www.prnewswire.com/news-releases/vayks-q2-profit-added-to-accumulated-net-profit-of-over-2-2-million-in-18-months-302223599.html
SOURCE Vaycaychella, Inc.
FAQ
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