UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01. Other Events.
On February 24, 2023, International Land Alliance, Inc. (the “Company”) received an independent appraisal by EMCO Hannover Group. The Appraisal indicated an underlying market value of $53,000,000, given its 6 properties in various stages of residential development and sale.
In determining its underlying value, a Residential Market Capitalization Rate (“CAP”) of 6.31% was used versus the Southern California Market rate of 4.89%.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits. | ||
| The following exhibits are filed with this Current Report on Form 8-K: | |||
| Exhibit Number | Description | |
| 1 | Fair Market Value of International Land Alliance, Inc. Assets | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: March 1, 2023 | INTERNATIONAL LAND ALLIANCE, INC. | |
| By: | /s/ Jason Sunstein | |
| Name: | Jason Sunstein | |
| Title: | Chief Financial Officer | |