AMERICAN REBEL HOLDINGS INC
For the period ended Mar 31, 2024. Filed Jun 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Jun 14, 2024
AREB$0.04-9.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Interim Condensed Consolidated Financial Statements (unaudited)
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| (audited) | ||
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $674,893 | $1,147,696 |
| Accounts receivable | 2,967,435 | 2,816,541 |
| Prepaid expense | 208,405 | 190,933 |
| Inventory | 6,510,731 | 5,787,993 |
| Inventory deposits | 315,084 | 315,083 |
| Total Current Assets | 10,676,548 | 10,258,246 |
| Property and Equipment, net | 335,108 | 360,495 |
| OTHER ASSETS: | ||
| Lease deposits and other | 82,832 | 83,400 |
| Right-of-use lease assets | 1,618,449 | 1,946,567 |
| Goodwill | 2,000,000 | 2,000,000 |
| Total Other Assets | 3,701,281 | 4,029,967 |
| TOTAL ASSETS | $14,712,937 | $14,648,708 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| CURRENT LIABILITIES: | ||
| Accounts payable and other payables | $2,459,045 | $1,978,768 |
| Accrued expenses | 316,201 | 271,076 |
| Loan – Officer – related party | 396,507 | 45,332 |
| Loans – Working capital | 2,675,750 | 1,954,214 |
| Line of credit | 1,818,441 | 1,456,929 |
| Right-of-use lease liabilities, current | 785,672 | 1,039,081 |
| Total Current Liabilities | 8,451,616 | 6,745,400 |
| Right-of-use lease liabilities, long-term | 832,777 | 907,486 |
| TOTAL LIABILITIES | 9,284,393 | 7,652,886 |
| STOCKHOLDERS’ EQUITY (DEFICIT): | ||
| Preferred stock, $0.001 par value; 10,000,000 shares authorized; 200,000, and 200,000 issued and outstanding, respectively at March 31, 2024 and December 31, 2023 | - | - |
| Series A Preferred Shares | 125 | 125 |
| Series B Preferred Shares | 75 | 75 |
| Common Stock, $0.001 par value; 600,000,000 shares authorized; 22,129,920 and 9,004,920 issued and outstanding, respectively at March 31, 2024 and December 31, 2023 | 22,130 | 9,005 |
| Additional paid in capital | 53,321,086 | 52,200,211 |
| Accumulated deficit | (47,914,872) | (45,213,594) |
| TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) | 5,428,544 | 6,995,822 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | $14,712,937 | $14,648,708 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| For the three months ended March 31, 2024 | For the three months ended March 31, 2023 | |
|---|---|---|
| Revenue | $4,043,837 | $4,402,099 |
| Cost of goods sold | 3,202,514 | 2,791,326 |
| Gross margin | 841,323 | 1,610,773 |
| Expenses: | ||
| Consulting/payroll and other costs | 551,913 | 856,326 |
| Compensation expense – officers – related party | 212,500 | 88,273 |
| Compensation expense – officers – deferred comp – related party | 1,134,000 | - |
| Rental expense, warehousing, outlet expense | 151,666 | 226,660 |
| Product development costs | 98,629 | 16,495 |
| Marketing and brand development costs | 265,055 | 252,725 |
| Administrative and other | 680,514 | 361,149 |
| Depreciation and amortization expense | 24,315 | 29,090 |
| Total operating expenses | 3,118,592 | 1,830,718 |
| Operating income (loss) | (2,277,269) | (219,945) |
| Other Income (Expense) | ||
| Interest expense, net | (423,859) | (7,110) |
| Interest income | 512 | - |
| Gain/(loss) on sale of equipment | (662) | - |
| Total Other Income (Expense) | (424,009) | (7,110) |
| Net income (loss) before income tax provision | (2,701,278) | (227,055) |
| Provision for income tax | - | - |
| Net income (loss) | $(2,701,278) | $(227,055) |
| Basic and diluted income (loss) per share | $(0.12) | $(0.34) |
| Weighted average common shares outstanding - basic and diluted | 22,129,200 | 677,200 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY/(DEFICIT)
| Common Stock | Common Stock Amount | Preferred Stock Amount | Additional Paid-in Capital | Accumulated Deficit | Total | |
|---|---|---|---|---|---|---|
| Balance – December 31, 2021 (audited) | 677,221 | $677 | $175 | $45,465,077 | $(34,112,810) | $(11,353,119) |
| Net loss for the three months ending March 31, 2023 | - | - | - | - | (227,055) | (227,055) |
| Balance – March 31, 2023 | 677,221 | $677 | $175 | $45,465,077 | $(34,339,865) | $11,126,064 |
| Balance – December 31, 2023 (audited) | 9,004,920 | $9,005 | $200 | $52,200,211 | $(45,213,594) | $6,995,822 |
| Vested shares reserved for through deferred compensation plan – one (1) related party | 3,125,000 | 3,125 | - | (3,125) | - | - |
| Vested shares reserved for through deferred compensation plan – two (2) related parties | 10,000,000 | 10,000 | - | (10,000) | - | - |
| Compensation component of vested and non-vested common stock equivalents attributable to Series A preferred stock – three (3) related parties | - | - | - | 1,134,000 | - | 1,134,000 |
| Net loss for the three months ending March 31, 2024 | - | - | - | - | (2,701,278) | (2,701,278) |
| Balance – March 31, 2024 | 22,129,920 | $22,130 | $200 | $53,321,086 | $(47,914,872) | $5,428,544 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
| For the three months ended March 31, 2024 · For the three months ended March 31, 2023 | ||||
|---|---|---|---|---|
| CASH FLOW FROM OPERATING ACTIVITIES: | ||||
| Net income (loss) | $(2,701,278) | $(227,055) | ||
| Depreciation and amortization | 24,315 | 29,090 | ||
| Loss on sale of equipment | 662 | - | ||
| Recognition of deferred compensation attributable to convertibility of Series A preferred stock issued to three (3) related parties | 1,134,000 | - | ||
| Adjustments to reconcile net loss to cash (used in) operating activities: | ||||
| Accounts receivable | (150,894) | (728,861) | ||
| Prepaid expenses | (17,304) | 37,156 | ||
| Inventory, deposits and other | (722,738) | (708,196) | ||
| Accounts payable | 480,276 | (92,713) | ||
| Accrued expenses | 45,125 | - | ||
| Net Cash (Used in) Operating Activities | (1,907,836) | (1,690,579) | ||
| CASH FLOW FROM INVESTING ACTIVITIES: | ||||
| Disposition/(purchase) of fixed assets, net | 410 | - | ||
| Net Cash Provided by Investing Activities | 410 | - | ||
| CASH FLOW FROM FINANCING ACTIVITIES: | ||||
| Proceeds from line of credit | - | 1,700,000 | ||
| Proceeds from line of credit, net | 361,512 | - | ||
| Proceeds from loans – officer - related party, net | 351,575 | 101,000 | ||
| Proceeds from working capital loans | 1,600,000 | - | ||
| Principal payments on working capital loans | (803,464) | (1,197) | ||
| Principal payment on loans – nonrelated parties | (75,000) | - | ||
| Net Cash Provided by Financing Activities | 1,434,623 | 1,799,803 | ||
| CHANGE IN CASH | (472,803) | 109,224 | ||
| CASH AT BEGINNING OF PERIOD | 1,147,696 | 356,754 | ||
| CASH AT END OF PERIOD | $674,893 | $465,978 | ||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||
| Cash paid for: | ||||
| Interest | $134,573 | $25,434 | ||
| Income taxes | $ | - | $ | - |
| Non-cash investing and financing activities: | ||||
| Notes payable principal increase from assessed interest obligations | $165,000 | $ | - | |
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