XML 13 R2.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 28,827,961 $ 17,827,383
Restricted Cash 664,174 694,520
Account Receivables, Net 63,778 46,522
Other Receivables 7,951,914 446,798
Prepaid Expense 237,772 188,070
Inventory 38,015 35,020
Investment in Securities at Fair Value 6,695,823 6,288,236
Investment in Securities at Fair Value - Related Party 24,804,737 13,193,089
Investment in Securities at Cost 99,802 98,129
Investment in Securities at Equity Method 32,202,734 52,987,224
Total Current Assets 104,444,093 95,422,167
Real Estate    
Rental Properties 31,388,691 31,169,031
Properties under Development 8,056,513 23,449,698
Operating Lease Right-Of-Use Assets, net 1,805,482 1,614,159
Deposits 422,313 536,947
Cash and Marketable Securities Held in Trust Account 20,831,983
Goodwill 274,234
Property and Equipment, Net 1,218,502 1,298,334
Total Assets 168,441,811 153,490,336
Current Liabilities:    
Accounts Payable and Accrued Expenses 6,131,700 2,983,470
Deferred Revenue 2,100 21,198
Operating Lease Liabilities - current 186,380 45,556
Total Current Liabilities 6,504,559 3,244,738
Long-Term Liabilities:    
Operating Lease Liabilities - noncurrent 1,647,909 1,582,483
Total Liabilities 8,152,468 4,827,221
Temporary Equity    
Class A Common Stock of Alset Capital Acquisition Corp subject to possible redemption; 1,976,036 shares at approximately $10.16 per share as of June 30, 2023 19,416,835
Stockholders’ Equity:    
Preferred Stock, $0.001 par value; 25,000,000 shares authorized, none issued and outstanding
Common Stock, $0.001 par value; 250,000,000 shares authorized; 9,235,119 and 7,422,846 shares issued and outstanding on June 30, 2023 and December 31, 2022, respectively [1] 9,235 7,423
Additional Paid in Capital 325,967,000 322,534,891
Accumulated Deficit (198,390,147) (188,724,411)
Accumulated Other Comprehensive Income 2,923,279 3,836,063
Total Alset Inc. Stockholders’ Equity 130,509,367 137,653,966
Non-controlling Interests 10,363,141 11,009,149
Total Stockholders’ Equity 140,872,508 148,663,115
Total Liabilities and Stockholders’ Equity 168,441,811 153,490,336
Related Party [Member]    
Current Assets:    
Note Receivables - Related Parties 2,857,383 3,617,176
Current Liabilities:    
Notes Payable - Related Parties 16,481 12,668
Nonrelated Party [Member]    
Current Liabilities:    
Notes Payable - Related Parties $ 167,898 $ 181,846
[1] The numbers of outstanding common stock were adjusted retrospectively to reflect 20-for-1 reverse stock split on December 28, 2022