Financial Performance - The Company had a net income of $113,541 for the year ended November 30, 2022, compared to a net loss of $5,000 for the previous year[155]. - The Company expects to incur increased expenses due to being a public company, including legal and compliance costs[155]. Cash and Capital Structure - As of November 30, 2022, the Company had $1,172,581 in cash and a working capital of $818,083[152]. - The Company has no long-term debt obligations or capital lease obligations as of November 30, 2022[156]. - The Company raised approximately $87,112,500 from its Initial Public Offering, which was placed in the Trust Account[146]. Mergers and Acquisitions - The total consideration for the merger with HWH International Inc. is $125,000,000, payable in shares of Class A common stock[151]. - The Merger with HWH is expected to be consummated in the first half of 2023, pending stockholder approval[149]. Corporate Governance - The Company did not repurchase any shares of its common stock during 2022[140]. - The Company will cease paying monthly fees to the Sponsor upon completion of the initial Business Combination[157]. Regulatory and Reporting - The Company is classified as an "emerging growth company" and may take advantage of certain reporting exemptions[164]. - The company has elected not to opt out of the extended transition period under the JOBS Act, allowing it to adopt new or revised financial accounting standards at the same time as private companies[165]. - This decision may complicate financial statement comparisons with other public companies that are not emerging growth companies or have opted out of the extended transition period[165].

Financial Performance - As of August 31, 2022, the company reported a net income of $122,132 for the three months and $14,650 for the nine months, primarily from interest income[102]. - The company has not commenced any operations and has not generated any revenues to date, with future income expected only after completing a Business Combination[101]. Initial Public Offering - The company raised approximately $87.1 million from its Initial Public Offering, with $1.9 million in its operating bank account post-IPO[94]. - The company incurred a cash underwriting discount of $1,725,000 and a deferred fee of $3,018,750, contingent upon completing a Business Combination[107]. Working Capital and Financial Position - The company has a working capital of approximately $1.65 million as of August 31, 2022, which is expected to cover operational needs until the completion of a Business Combination[99]. - The company has no long-term debt obligations or off-balance sheet arrangements as of August 31, 2022[103][111]. Business Combination Plans - The company has a 12-month period to complete its initial Business Combination, extendable up to 21 months under certain conditions[95]. - The company plans to utilize funds for evaluating prospective Business Combination candidates and related expenses[99]. Administrative Agreements - The company has entered into an agreement to pay the Sponsor $10,000 per month for administrative services[104]. Regulatory Classification - The company is classified as an "emerging growth company," allowing it to take advantage of certain exemptions from reporting requirements[113].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 001-41254 ALSET CAPITAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) | --- | --- | |------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 001-41254 ALSET CAPITAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) | --- | --- | -- ...