AMERICAN REBEL HOLDINGS INC
For the period ended Dec 31, 2023. Filed Apr 12, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 12, 2024
AREB$0.31-9.0%Stored close · as of Jul 8, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Cash Flows
| For the year ended December 31, 2023 · For the year ended December 31, 2022 | ||||
|---|---|---|---|---|
| CASH FLOW FROM OPERATING ACTIVITIES: | ||||
| Net income (loss) | $(11,100,784) | $(7,143,153) | ||
| Depreciation | 104,229 | 50,087 | ||
| Gain on disposition of property | (1,900) | (1,994) | ||
| Compensation paid through issuance of common stock | 2,904 | 1,030,535 | ||
| Compensation paid through issuance of common stock – related parties | 23,080 | - | ||
| Amortization of loan discount | - | 1,000,457 | ||
| Recognition of deferred compensation attributable to convertibility of Series A preferred stock issued to three (3) related parties | 1,413,000 | - | ||
| Goodwill impairment | 2,525,000 | - | ||
| Inventory adjustment | 1,570,816 | - | ||
| Adjustments to reconcile net loss to cash (used in) operating activities (net of acquired amounts from Champion): | ||||
| Accounts receivable | (1,203,052) | 613,104 | ||
| Prepaid expense and other | (49,428) | (34,286) | ||
| Inventory | 57,488 | (2,292,844) | ||
| Accounts payable | (544,784) | - | ||
| Accrued expenses | 167,362 | (50,042) | ||
| Net Cash (Used in) Operating Activities | (7,036,069) | (6,828,136) | ||
| CASH FLOW FROM INVESTING ACTIVITIES: | ||||
| Purchase of Champion Entities | (325,000) | (10,247,420) | ||
| Purchase of property and equipment | (6,300) | (20,888) | ||
| Net Cash (Used in) Investing Activities | (331,300) | (10,268,308) | ||
| CASH FLOW FROM FINANCING ACTIVITIES: | ||||
| Proceeds from sale of common and preferred stock, net of offering costs | - | 9,603,791 | ||
| Proceeds from sale of warrant inducement, net of offering costs | 2,833,800 | - | ||
| Proceeds from sale of common stock and prefunded warrants, net of offering costs | 2,464,530 | 10,349,964 | ||
| Proceeds from exercise of prefunded warrants | 6,150 | 115,798 | ||
| Proceeds (repayments) of loans – officer - related party | 45,332 | (81,506) | ||
| Proceeds from line of credit | 1,700,000 | - | ||
| Principal payments on line of credit, net | (243,071) | - | ||
| Proceeds of working capital loans | 2,000,000 | 60,000 | ||
| Principal payments on working capital loan | (648,430) | - | ||
| Repayment of loans – nonrelated party | - | (2,612,456) | ||
| Net Cash Provided by Financing Activities | 8,158,311 | 17,435,591 | ||
| CHANGE IN CASH | 790,942 | 339,147) | ||
| CASH AT BEGINNING OF PERIOD | 356,754 | 17,607 | ||
| CASH AT END OF PERIOD | $1,147,696 | $356,754 | ||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||
| Cash paid for: | ||||
| Interest | $415,472 | $270,146 | ||
| Income taxes | $ | - | $ | - |
| Non-cash investing and financing activities: | ||||
| Issuance of Series A preferred stock pursuant to employment agreement – related party | $4,612,500 | $ | - | |
| Modification of conversion terms of Series A preferred stock previously issued pursuant to employment agreements – related parties | $17,505,000 | $ | - | |
| Conversion of debt to equity | $ | - | $2,011,224 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.