International Land Alliance, Inc. (ILAL) announced on May 22, 2025, the filing of its audited financial statements for the fiscal year ending December 31, 2024, with the U.S. Securities and Exchange Commission. The audit confirmed annual gross revenues exceeded $8 million and net revenue reached $3 million, aligning with the unaudited figures reported in March.
The successful audit validates the company's financial reporting and its achievement of profitability for the first time in its history. This confirmation is a crucial step for ILAL as it continues to pursue its goal of uplisting to the NASDAQ stock exchange by the end of 2025.
Management is actively progressing towards the NASDAQ uplisting, including interviewing candidates for three independent director positions required by Nasdaq. The company is also exploring the possibility of achieving the listing without the need for an underwritten offering of its securities, which could mitigate potential shareholder dilution. ILAL also reported maintaining steady sales through the first three months of 2025.
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