Awaysis Capital, Inc. 8-K

What Happened Awaysis Capital, Inc. (via its wholly owned subsidiary Awaysis Belize Limited) announced on April 3, 2026 that it entered into a secured credit facility with Belize Bank Limited and issued a secured promissory note. The facility provides aggregate borrowings of BZD $4,103,000 (approximately US $2,051,500) to finance renovation and development of twelve condominium units in San Pedro, Belize. Borrowings bear interest at the Bank’s prime rate minus 0.5% (currently about 8.0% per year), with an Event of Default rate of 18% per year. The facility matures September 30, 2035.

Key Details

• Borrower: Awaysis Belize Limited (wholly owned subsidiary); Company consolidation means the obligation is a direct consolidated financial liability of Awaysis Capital.
• Amount: BZD $4,103,000 total (approx. BZD $4,000,000 loan + customary fees/closing costs); USD conversion at $0.50/BZD ≈ US $2,051,500.
• Term & repayment: Six‑month interest‑only period, then 114 monthly amortizing payments, with final maturity payment on September 30, 2035; 50% of condominium sale proceeds must be applied to principal.
• Security & guarantees: Secured by certain real property (including seven villas and a commercial building in San Pedro); guaranteed by Co‑CEOs Michael Singh and Andrew Trumbach (also Awaysis CFO) and an affiliate of Mr. Singh.
• Fees & penalties: 1% loan origination fee; 1% per annum non‑refundable commitment fee on unused portions; 1% amendment fee on outstanding for material amendments; late payments incur extra interest (1% p.a.) and a $100 fee if >5 days late.

Why It Matters This credit facility provides the company with committed financing to complete renovation and development of 12 condominium units in Belize, which could support future sales and revenue recognition tied to those properties. The loan is secured and guaranteed by senior executives and is recorded on Awaysis’s consolidated balance sheet as a direct financial obligation, increasing leverage and interest expense exposure. Investors should note the interest terms, repayment schedule, collateral, and covenant/default provisions—these affect cash flow demands and downside risk if sales or project timelines are delayed. The company said it will file the Credit Facility agreement and the promissory note as exhibits to its next Form 10‑Q.