Bethesda, MD, Nov. 04, 2024 (GLOBE NEWSWIRE) -- HWH International Inc. (Nasdaq: HWH) is pleased to announce the launch of its proprietary business-to-consumer marketplace, Hapi Marketplace, which aims to offer a diversity of high-quality yet price competitive products. Hapi Marketplace features an extensive selection of over forty-seven product categories including wellness, elderly care, auto accessories and more. A special range of products are sourced by our team, allowing our customers to shop with conf ...

Bethesda, MD, Oct. 31, 2024 (GLOBE NEWSWIRE) -- HWH International Inc. (“HWH” or the “Company”) (Nasdaq: HWH) is pleased to announce that the Company has scheduled the launch of Hapi Wealth, a program dedicated to providing comprehensive education in equity investment and wealth-building strategies. A soft launch is scheduled for November 2024 in China and elsewhere in Asia, with the official launch set for January 2025. Building on the success of the launch, HWH plans to expand Hapi Wealth globally, with a ...

Financial Performance - Total revenue for the three months ended June 30, 2024, was $334,882, a 71.5% increase from $195,198 in the same period of 2023[79] - Total revenue for the six months ended June 30, 2024, was $620,992, up 57.0% from $395,760 in the same period of 2023[79] - Net loss for the three months ended June 30, 2024, was $403,641, compared to a net loss of $62,935 in the same period of 2023[81] - Net loss for the six months ended June 30, 2024, was $1,740,160, contrasting with a net income of $108,914 in the same period of 2023[81] Cost and Expenses - Cost of revenue increased from $73,620 in the three months ended June 30, 2023, to $169,969 in the same period of 2024[84] - Operating expenses rose from $582,466 to $654,740 in the three months ended June 30, 2023, and 2024, respectively[85] - Other income decreased significantly from $552,660 in the three months ended June 30, 2023, to $86,186 in the same period of 2024[86] Membership and Business Model - The company has 9,811 founding members, with a cap of 10,000, who will enjoy continuous membership benefits[77] - The company plans to implement a new yearly subscription-based membership model, with exclusive discounts and passive income opportunities for members[77] - Hapi Cafés are positioned as integral to the business model, with locations opened in Seoul and Singapore, and plans for further expansion[78] Cash Flow and Assets - Cash decreased from $1,159,201 as of December 31, 2023, to $821,353 as of June 30, 2024, while total assets dropped from $23,710,684 to $3,068,280 in the same timeframe[87] - The Company utilized $1,129,040 in operating activities for the six months ended June 30, 2024, a decrease from $1,379,468 in the same period of 2023[88] - Net cash provided by investing activities was $20,554,734 for the six months ended June 30, 2024, down from $69,023,066 in the same period of 2023[88] Financing and Support - The Company entered into a Credit Facility Agreement with Alset Inc. providing a maximum credit line of $1,000,000 at a simple interest rate of 3% per annum[87] - The Company has obtained letters of financial support from Alset International Limited and Alset Inc. to provide additional funding as needed for the next twelve months[87] Foreign Exchange and Growth Classification - The fluctuation of foreign exchange rates is expected to impact the results of operations in 2024, particularly concerning intercompany loans between Singapore and South Korea, which were approximately $2.7 million as of June 30, 2024[97] - The Company is classified as an "emerging growth company" and intends to take advantage of certain exemptions from various reporting requirements applicable to other public companies[98] - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[100] Internal Controls and Reporting - The company is not currently required to maintain an effective system of internal controls as defined by Section 404 of the Sarbanes-Oxley Act[100] - Management determined that the company did not maintain effective controls over financial reporting due to limited staff with U.S. GAAP and SEC reporting experience, constituting a material weakness[100] - To remediate the identified weaknesses, the company plans to appoint additional qualified personnel with financial accounting, GAAP, and SEC experience[100] - The internal control assessment was based on the criteria described in the Internal Control Integrated Framework issued by COSO[100] - The company's internal control over financial reporting may vary over time due to changes in conditions[100] - The prospectus does not include an attestation report from the registered public accounting firm regarding internal control over financial reporting[100] - The management's report was not subject to attestation by the registered public accounting firm due to temporary SEC rules[100]

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 March 31, 2024 ☐ 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 HWH INTERNATIONAL INC. (Exact name of registrant as specified in its charter) Delaware 87-3296100 (State o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended November 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-41254 HWH INTERNATIONAL INC. (Exact name of registrant as specified in its charter) Delaware 87-3296100 (State o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the fiscal year ended November 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-41254 ALSET CAPITAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) | Delaware | 87-3296100 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) ...