AMERICAN REBEL HOLDINGS INC

For the period ended Jun 30, 2024. Filed Aug 14, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 14, 2024

AREB$0.04-9.8%Stored close · as of Nov 10, 2026

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Contents

Item 1. Interim Condensed Consolidated Financial Statements (unaudited)

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

	June 30, 2024	December 31, 2023
(audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$452,785	$1,147,696
Accounts receivable	2,143,808	2,816,541
Prepaid expense	191,605	190,933
Inventory	6,357,118	5,787,993
Inventory deposits	315,084	315,083
Total Current Assets	9,460,400	10,258,246
Property and Equipment, net	310,776	360,495
OTHER ASSETS:
Lease deposits and other	78,954	83,400
Right-of-use lease assets	1,312,831	1,946,567
Goodwill	2,000,000	2,000,000
Total Other Assets	3,391,785	4,029,967
TOTAL ASSETS	$13,162,961	$14,648,708
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
CURRENT LIABILITIES:
Accounts payable and other payables	$2,452,588	$1,978,768
Accrued expenses	413,160	271,076
Loans – Officer – related parties	260,793	45,332
Loan – Director – related party	480,000	-
Loans – Working capital	3,731,790	1,954,214
Line of credit	1,992,129	1,456,929
Right-of-use lease liabilities, current	791,222	1,039,081
Total Current Liabilities	10,121,682	6,745,400
Right-of-use lease liabilities, long-term	521,609	907,486
TOTAL LIABILITIES	10,643,291	7,652,886
STOCKHOLDERS’ EQUITY (DEFICIT):
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 333,000, and 200,000 issued and outstanding, respectively at June 30, 2024 and December 31, 2023	-
Series A Preferred Shares, 150,000 shares authorized; 125,000 and 125,000 issued and outstanding, respectively, at June 30, 2024 and December 31, 2023	125	125
Series B Preferred Shares, 350,000 shares authorized; 75,143 and 75,143 issued and outstanding, respectively, at June 30, 2024 and December 31, 2023	75	75
Series D Preferred Shares, 500,000 shares authorized; 133,334 and nil issued and outstanding, respectively, at June 30, 2024 and December 31, 2023	133	-
Common Stock, $0.001 par value; 600,000,000 shares authorized; 5,879,920 issued and outstanding at June 30, 2024 and December 31, 2023	5,880	5,880
Additional paid in capital	55,681,333	52,203,336
Accumulated deficit	(53,167,876)	(45,213,594)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)	2,519,670	6,995,822
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$13,162,961	$14,648,708

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	For the three months ended June 30, 2024	For the three months ended June 30, 2023
Revenue	$3,255,393	$3,670,571
Cost of goods sold	3,224,738	2,982,688
Gross margin	30,655	687,883
Expenses:
Consulting/payroll and other costs	445,166	828,520
Compensation expense – officers – related party	212,500	102,985
Compensation expense – officers – deferred comp – related party	1,344,125	-
Rental expense, warehousing, outlet expense	80,515	275,474
Product development costs	337,771	-
Marketing and brand development costs	299,655	172,617
Administrative and other	1,228,163	833,851
Depreciation and amortization expense	30,681	25,275
Operating expense	3,978,576	2,238,722
Operating income (loss)	(3,947,921)	(1,550,839)
Other Income (Expense)
Interest expense, net	(1,055,282)	(148,437)
Interest income	199	-
Employee retention credit funds, net of costs to collect	-	1,107,672
Gain/(loss) on settlement of debt instrument	(250,000)	-
Gain/(loss) on sale of equipment	-	1,400
Nonoperating income (expense)	(1,305,083)	960,635
Net income (loss) before income tax provision	(5,253,004)	(590,204)
Provision for income tax	-	-
Net income (loss)	$(5,253,004)	$(590,204)
Basic and diluted income (loss) per share	$(0.89)	$(0.87)
Weighted average common shares outstanding - basic and diluted	5,879,920	679,000

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	For the six months ended June 30, 2024	For the six months ended June 30, 2023
Revenue	$7,299,230	$8,072,670
Cost of goods sold	6,427,252	5,774,014
Gross margin	871,978	2,298,656
Expenses:
Consulting/payroll and other costs	997,079	1,684,846
Compensation expense – officers – related party	425,000	191,258
Compensation expense – officers – deferred comp – related party	2,478,125	-
Rental expense, warehousing, outlet expense	232,181	502,134
Product development costs	436,400	16,495
Marketing and brand development costs	564,710	425,342
Administrative and other	1,908,677	1,195,000
Depreciation and amortization expense	54,996	54,365
Operating expense	7,097,168	4,069,440
Operating income (loss)	(6,225,190)	(1,770,784)
Other Income (Expense)
Interest expense, net	(1,479,141)	(155,547)
Interest income	711	-
Employee retention credit funds, net of costs to collect	-	1,107,672
Gain/(loss) on settlement of debt instrument	(250,000)	-
Gain/(loss) on sale of equipment	(662)	1,400
Nonoperating income (expense)	(1,729,092)	953,525
Net income (loss) before income tax provision	(7,954,282)	(817,259)
Provision for income tax	-	-
Net income (loss)	$(7,954,282)	$(817,259)
Basic and diluted income (loss) per share	$(1.35)	$(1.21)
Weighted average common shares outstanding - basic and diluted	5,879,920	678,000

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY/(DEFICIT)

	Common Stock	Common Stock Amount	Preferred Stock Amount	Additional Paid-in Capital	Accumulated Deficit	Total
Balance – March 31, 2023	677,221	$677	$175	$45,465,077	$(34,339,865)	$11,126,064
Sale of common stock	71,499	72	-	312,380	-	312,452
Sale of 615,000 pre-funded common stock warrants $4.36 per share, exercise price of $0.01 per share	-	-	-	2,681,400	-	2,681,400
Pre-funded common stock warrant offering costs and fees	-	-	-	(529,324)	-	(529,324)
Effect of reverse stock split – round lot shares of 2,093,591	2,093,591	2,094	-	-	-	-
Post quarter effectuation of round lot share issuance	(2,093,591)	(2,094)	-	-	-	-
Net loss for the three months ending June 30, 2023	-	-	-	-	(590,204)	(590,204)
Balance – June 30, 2023	748,720	$749	$175	$47,929,533	$(34,930,069)	$13,000,388
Balance – March 31, 2024	5,879,920	$5,880	$200	$53,337,336	$(47,914,872)	$5,428,544
Compensation component of vested and non-vested common stock equivalents attributable to Series A preferred stock – three (3) related parties	-	-	-	1,344,125	-	1,344,125
Issuance of Series D preferred stock through the settlement and conversion of an original Revenue Interest Purchase note payable of $500,000 and $250,005 in accrued interest and $250,000 premium payment as inducement to settle	-	-	133	999,872	-	1,000,005
Net loss for the three months ending June 30, 2024	-	-	-	-	(5,253,004)	(5,253,004)
Balance – June 30, 2024	5,879,920	$5,880	$333	$55,681,333	$(53,167,876)	$2,519,670

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, 2022 (audited)	677,221	$677	$175	$45,465,077	$(34,112,810)	$11,353,119
Sale of common stock	71,499	72	-	312,380	-	312,452
Sale of 615,000 pre-funded common stock warrants $4.36 per share, exercise price of $0.01 per share	-	-	-	2,681,400	-	2,681,400
Pre-funded common stock warrant offering costs and fees	-	-	-	(529,324)	-	(529,324)
Effect of reverse stock split – round lot shares of 2,093,591	2,093,591	2,094	-	-	-	-
Post quarter effectuation of round lot share issuance	(2,093,591)	(2,094)	-	-	-	-
Net loss for the six months ending June 30, 2023	-	-	-	-	(817,259)	(817,259)
Balance – June 30, 2023	748,720	$749	$175	$47,929,533	$(34,930,069)	$13,000,388
Balance – December 31, 2023 (audited)	5,879,920	$5,880	$200	$52,203,336	$(45,213,594)	$6,995,822
Compensation component of vested and non-vested common stock equivalents attributable to Series A preferred stock – three (3) related parties	-	-	-	2,478,125	-	2,478,125
Issuance of Series D preferred stock through the settlement and conversion of an original Revenue Interest Purchase note payable of $500,000 and $250,005 in accrued interest and $250,000 premium payment as inducement to settle	-	-	133	999,872	-	1,000,005
Net loss for the six months ending June 30, 2024	-	-	-	-	(7,954,282)	(7,954,282)
Balance – June 30, 2024	5,879,920	$5,880	$333	$55,681,333	$(53,167,876)	$2,519,670

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

For the six months ended June 30, 2024 · For the six months ended June 30, 2023
CASH FLOW FROM OPERATING ACTIVITIES:
Net income (loss)		$(7,954,282)		$(817,259)
Depreciation and amortization		54,996		54,365
(Gain)/loss on sale of equipment		662		(1,400)
Loss on settlement of debt		250,000		-
Settlement of revenue interest purchase note through the issuance of preferred stock		750,005		-
Recognition of deferred compensation attributable to convertibility of Series A preferred stock issued to three (3) related parties		2,478,125		-
Adjustments to reconcile net loss to cash (used in) operating activities:
Accounts receivable		672,733		(368,993)
Prepaid expenses		3,774		46,756
Inventory, deposits and other		(569,126)		(1,153,758)
Accounts payable		473,820		(234,630)
Accrued expenses		142,084		-
Net Cash (Used in) Operating Activities		(3,697,209)		(2,474,919)
CASH FLOW FROM INVESTING ACTIVITIES:
Disposition/(purchase) of fixed assets, net		(5,939)		1,402
Net Cash Provided by Investing Activities		(5,939)		1,402
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from the sale of common stock, net of offering costs		-		312,452
Proceeds from the sale of prefunded warrants, net of offering costs		-		2,152,076
Proceeds from initial drawdown of line of credit		-		1,700,000
Proceeds from line of credit, net of payments		535,200		(340,317)
Proceeds from loans – officer - related parties, net		215,461		146,000
Proceeds from loan – director - related party, net		400,000		-
Proceeds from working capital loans		2,091,503		1,000,000
Principal payments on working capital loans		(233,927)		(120,195)
Net Cash Provided by Financing Activities		3,008,237		4,850,016
CHANGE IN CASH		(694,911)		2,376,499
CASH AT BEGINNING OF PERIOD		1,147,696		356,754
CASH AT END OF PERIOD		$452,785		$2,733,253
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for:
Interest		$281,666		$156,252
Income taxes	$	-	$	-
Non-cash investing and financing activities:
Note payable principal and interest associated with revenue interest purchase conversion - Series D preferred stock		$1,000,005	$	-
Notes payable - related party principal increase from assessed interest obligations		$80,000	$	-
Notes payable principal increase from assessed interest obligations		$1,189,795	$	-

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.