Annual Report for Fiscal Year Ending 06-30, 2025 (Form 10-K)

Management's Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion should be read in conjunction with our audited financial statements and the related notes that appear elsewhere in this Annual Report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to those discussed below and elsewhere in this Annual Report. Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

Plan of Operation

The core business of the Company is luxury waterfront home development in southwest Florida. ASC Global owns over 20 properties in Florida in various stages of development. We have started construction on seven of these lots in various stages. The Company is also attempting to develop an APOZ project of approximately 500 acres in the Greater Houston Area (Chambers County) which will consist of industrial, commercial, and residential areas. The APOZ is a mixed-use Master Planned Development project with industrial, commercial, and residential sections combined. It is anticipated to be the only FTZ ( Foreign Trade Zone ) + QOZ ( Qualified Opportunity Zone ) dual-status business park in the U.S. today.

Results from Operations - For the year ended June 30, 2025 as compared to June 30, 2024

Operating Expenses

Total operating expenses increased from $288,530 in fiscal year 2024 to $481,930 in fiscal year 2025. The increase was primarily due to an increase in general and administrative costs during the fiscal year ended June 30, 2025.

Loss From Operations

Income from operations decreased from $905,142 in fiscal year 2024 to $(463,431) in fiscal year 2025. The difference was primarily due to the sale of various properties during the fiscal year ended June 30, 2024.

Other Income (Expense)

Other Income decreased from $718,972 in fiscal year 2024 to $0 in fiscal year 2025. This decrease was due to the gain on extinguishment of debt of $730,820 in fiscal year 2024.

Net Income (Loss)

Net income decreased from $1,276,464 in fiscal year 2024 to $(464,107) in fiscal year 2025. The decrease is primarily due to the absence of sales and debt extinguishment in fiscal year 2025.

Liquidity and Capital Resources

As of June 30, 2025, the Company had total assets of $5,895,117 as compared to $3,987,903 as of June 30, 2024, an increase of $1,907,214. This increase was primarily a result of the Company's acquisition of various properties. The Company's total current assets exceeded its current liabilities by $2,809,593.

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Our cash flows for the year ended June 30, 2025 and 2024 are summarized below:

		Year Ending June 30, 2025				Year Ending June 30, 2024
Net cash provided by operating activities		$	(2,314,277	)		$	(2,284,610	)
Net cash used in investing activities		$	(157,025	)		$	-
Net cash provided (used) by financing activities		$	2,365,353			$	2,254,938
Net Change in Cash		$	36,902			$	24,809
Cash at beginning of year		$	25,939			$	1,130
Cash at end of year		$	62,841			$	25,939

Net Cash Provided (Used) in Operating Activities

For the year ended June 30, 2025, $(2,171,426) net cash used in operating activities was primarily attributable to the purchase of various properties. For the year ended June 30, 2024, $(2,284,610) net cash used in operating activities was primarily due to the purchase of various properties.

Net Cash Provided (Used) in Investing Activities

For the year ended June 30, 2025, $(157,025) net cash used in financing activities was primarily attributable to construction in progress. For the year ended June 30, 2024 net cash used in investing activities was $0.

Net Cash Provided (Used) by Financing Activities

For the year ended June 30, 2025 net cash of $2,508,204 provided by financing activities was primarily attributable to construction loan proceeds. For the year ended June 30, 2024 net cash of $2,254,938 provided by financing activities was primarily due to loans from related parties.

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Critical Accounting Policies

The preparation of Consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Notes to the Consolidated Financial Statements describe the significant accounting policies and methods used in the preparation of the Consolidated Financial Statements. Estimates are used for, but not limited to, contingencies and taxes. Actual results could differ materially from those estimates. The following critical accounting policies are impacted significantly by judgments, assumptions, and estimates used in the preparation of the Consolidated Financial Statements.

Loss Contingencies

The Company is subject to various loss contingencies arising in the ordinary course of business. The Company considers the likelihood of loss or impairment of an asset or the incurrence of a liability, as well as its ability to reasonably estimate the amount of loss in determining loss contingencies. An estimated loss contingency is accrued when management concludes that it is probable that an asset has been impaired or a liability has been incurred and the amount of the loss can be reasonably estimated. The Company regularly evaluates current information available to us to determine whether such accruals should be adjusted.

Income Taxes

The Company recognizes deferred tax assets (future tax benefits) and liabilities for the expected future tax consequences of temporary differences between the book carrying amounts and the tax basis of assets and liabilities. The deferred tax assets and liabilities represent the expected future tax return consequences of those differences, which are expected to be either deductible or taxable when the assets and liabilities are recovered or settled.

Recent Accounting Pronouncements

See Note 2 of the consolidated financial statements for discussion of Recent Accounting Pronouncements.

Off-Balance Sheet Arrangements

We are not currently a party to, or otherwise involved with, any off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

Recently Adopted Accounting Standards

See Note 2 of the consolidated financial statements for discussion of Recent Accounting Pronouncements.