AMERICAN REBEL HOLDINGS INC

For the period ended Sep 30, 2024. Filed Feb 7, 2025.

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.

Sep 30, 2024 · Filed Feb 7, 2025

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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Contents

Item 1. Interim Condensed Consolidated Financial Statements (Unaudited)

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

	September 30, 2024	December 31, 2023
ASSETS · (Unaudited)
CURRENT ASSETS:
Cash and cash equivalents	$127,688	$1,077,028
Accounts receivable, net	1,896,906	2,674,540
Prepaid expense	85,131	67,322
Inventory, net	5,320,800	5,574,371
Inventory deposits	-	21,968
Total Current Assets	7,430,525	9,415,229
Property and Equipment, net	285,698	360,495
OTHER ASSETS:
Lease deposits and other	35,656	25,360
Right-of-use lease assets	636,530	1,244,496
Intangible assets, net	462,500	500,000
Total Other Assets	1,134,686	1,769,856
TOTAL ASSETS	$8,850,909	$11,545,580
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
CURRENT LIABILITIES:
Accounts payable and other payables	$3,255,085	$2,041,370
Accrued expense and other	1,807,923	683,110
Loan – Officers – related party	507,300	74,664
Loans – Working capital, net	4,424,473	1,944,410
Line of credit	1,992,129	1,456,929
Right-of-use lease liability, current	220,584	669,002
Total Current Liabilities	12,207,494	6,869,485
Right-of-use lease liability, long-term	472,155	602,278
TOTAL LIABILITIES	12,679,649	7,471,763
STOCKHOLDERS’ EQUITY (DEFICIT):
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 222,144, and 175,000 issued and outstanding, respectively at September 30, 2024 and December 31, 2023	-	-
Preferred Shares A	125	125
Preferred Shares B	75	75
Preferred Shares D	22	-
Common Stock, $0.001 par value; 600,000,000 shares authorized; 9,399,283 and 5,879,920 issued and outstanding, respectively at September 30, 2024 and December 31, 2023, respectively	12,524	9,005
Additional paid in capital	53,342,589	51,546,448
Accumulated deficit	(57,184,075)	(47,481,836)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)	(3,828,740)	4,073,817
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$8,850,909	$11,545,580

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	For the Three Months Ended		For the Nine Months Ended
	September 30, 2024	September 30, 2023	September 30, 2024	September 30, 2023
Revenue	2,337,786	3,345,552	9,637,016	11,418,222
Cost of goods sold	2,835,763	3,095,418	9,263,015	8,869,432
Gross margin	(497,977)	250,134	374,001	2,548,790
Expenses:
Consulting/payroll and other costs	478,371	1,039,273	1,475,450	2,915,377
Compensation expense – officers – related party	(425,000)	-	-	-
Compensation expense – officers – deferred comp – related party	(1,985,936)	-	492,189	-
Rental expense, warehousing, outlet expense	103,562	230,226	335,743	732,360
Product development costs	277,483	20,326	713,883	36,821
Marketing and brand development costs	624,509	517,345	1,189,219	942,687
Administrative and other	1,414,889	1,347,181	3,323,566	2,542,181
Depreciation and amortization expense	54,817	24,895	109,813	79,260
Total operating expenses	542,695	3,179,246	7,639,863	7,248,686
Operating loss	(1,040,672)	(2,929,112)	(7,265,862)	(4,699,896)
Other Income (Expense)
Interest expense	(649,216)	(95,330)	(2,128,357)	(250,877)
Interest expense – pre-emptive rights release	-	-	-	-
Interest income	348	3,203	1,059	3,203
Employee retention credit funds, net of costs to collect	-	-	-	1,107,672
Gain/(loss) on sale of equipment	4,088	-	3,426	1,400
Tangible asset valuation adjustment	-	-	-	-
Impairment adjustment – goodwill	-	-	-	-
Gain/(loss) on settlement of debt instrument	(62,505)	-	(312,505)	-
Gain on settlement of liability	-	227,569	-	227,569
Net loss before income tax provision	(1,747,957)	(2,793,670)	(9,702,239)	(3,610,929)
Provision for income tax	-	-	-	-
Net loss	(1,747,957)	(2,793,670)	(9,702,239)	(3,610,929)
Basic and diluted loss per share	(0.67)	(0.95)	(1.48)	(2.50)
Weighted average common shares outstanding - basic and diluted	2,594,057	2,930,700	6,550,790	1,442,600

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

FOR THE THREE AND NINE MONTHS ENDED

SEPTEMBER 30, 2024 AND 2023

	Common Stock	Common Stock Amount	Preferred Stock	Preferred Stock Amount	Additional Paid-in Capital	Accumulated Deficit	Total
Balance – June 30, 2024	5,879,920	9,005	333,334	333	53,967,072	(55,436,118)	(1,459,708)
Conversion of Series D Preferred Stock to Common Stock	2,232,143	2,232	(111,190)	(111)	786,064	-	788,186
Issuance of Common Stock	673,382	673	-	-	301,002	-	301,675
Compensation expense – officers – deferred comp – related party	-	-	-	-	(1,985,936)	-	(1,985,936)
Issuance of Common Stock in connection with the Amended Convertible Note Payable	223,214	223	-	-	99,777	-	100,000
Issuance of Common Stock in connection with Amended VGR working capital loan - August 2024	167,410	167	-	-	74,833	-	75,000
Issuance of Common Stock in connection with Amended VGR working capital loan - September 2024	223,214	223	-	-	99,777	-	100,000
Net loss	-	-		-	-	(1,747,957)	(1,747,957)
Balance – September 30, 2024	9,399,283	$12,524	222,144	$222	53,342,589	$(57,184,075)	$(3,828,740)

	Common Stock	Common Stock Amount	Preferred Stock	Preferred Stock Amount	Additional Paid-in Capital	Accumulated Deficit	Total
Balance – June 30, 2023	748,720	749	175,000	175	47,929,533	(34,930,069)	13,000,388
Effect of reverse stock split round lot shares	1,488,615	1,488	-	-	(1,488)	-	-
Warrant inducement and exercise of 2,988,687 repriced common stock warrants at $1.10 per share	2,988,687	2,989	-	-	32,84,567	-	32,87,556
Warrant inducement offering costs and fees			-	-	(4,53,756)	-	(4,53,756)
Exercise of prefunded common stock warrants at $0.01 per share	6,15,000	615	-	-	5,535	-	6,150
Common stock issued as compensation	34,241	34	-	-	25,950	-	25,984
Net loss			-	-		(27,93,670)	(27,93,670)
Balance – September 30, 2023	58,75,263	$5,875	1,75,000	$175	5,07,90,341	$(3,77,23,739)	$1,30,72,652

Common · Common Stock · Preferred · Preferred Stock · Additional Paid-in · Accumulated
	Stock	Amount	Stock	Amount	Capital	Deficit	Total
Balance – December 31, 2023	5,879,920	9,005	200,000	200	51,546,448	(47,481,836)	4,073,817
Issuance of Common Stock	673,382	673	-	-	301,002	-	301,675
Compensation expense – officers – deferred comp – related party	-	-	-	-	492,189	-	492,189
Issuance of Common Stock in connection with the Amended Convertible Note Payable	223,214	223	-	-	99,777	-	100,000
Issuance of Common Stock in connection with Amended VGR working capital loan - August 2024	167,410	167	-	-	74,833	-	75,000
Issuance of Common Stock in connection with Amended VGR working capital loan - September 2024	223,214	223	-	-	99,777	-	100,000
Series D Convertible Preferred Stock issued in connection with two amended Revenue Interest Agreements and subsequently converted to Common Stock	2,232,143	2,233	22,144	22	728,563	-	730,818
Net loss	-	-		-	-	(9,702,239)	(9,702,239)
Balance – September 30, 2024	9,399,283	$12,524	222,144	$222	53,342,589	$(57,184,075)	$(3,828,740)

Common · Preferred · Additional
Common · Stock · Preferred · Stock · Paid-in · Accumulated
	Stock	Amount	Stock	Amount	Capital	Deficit	Total
Balance – December 31, 2022	677,221	677	175,000	175	45,465,077	(34,112,810)	11,353,119
Sale of common stock, net	71,499	71	-	-	312,381	-	312,452
Sale of 615,000 pre-funded common stock warrants $4.36 per share, exercise price of $0.01	-	-	-	-	2,681,400	-	2,681,400
Prefunded common stock warrant offering costs and fee	-	-	-	-	(529,324)	-	(529,324)
Effect of reverse stock split round lot shares	1,488,615	1,489	-	-	(1,489)	-	-
Warrant inducement and exercise of 2,988,687 repriced common stock warrants at $1.10 per share	2,988,687	2,989	-	-	3,284,567	-	3,287,556
Warrant inducement offering costs and fees	-	-	-	-	(453,756)		(453,756)
Exercise of prefunded common stock warrants at $0.01 per share	615,000	615	-	-	5,535	-	6,150
Common stock issued as compensation	34,241	34	-	-	25,950	-	25,984
Net loss	-	-	-	-	-	(3,610,929)	(3,610,929)
Balance – September 30, 2023	5,875,263	$5,875	175,000	$175	50,790,341	$(37,723,739)	$13,072,652

See Notes to Financial Statements and Note 1 regarding non-reliance on financial statements.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the Nine Months Ended
September 30, 2024 · September 30, 2023
CASH FLOW FROM OPERATING ACTIVITIES:
Net income (loss)		(9,702,239)		(3,610,929)
Depreciation and amortization		109,813		79,260
Gain on disposition of property		(3,426)		(1,400)
Compensation paid through issuance of common stock		-		25,984
Compensation paid through issuance of common stock – related parties		492,189		-
Loss on settlement of debt instrument		312,505		-
Adjustments to reconcile net loss to cash (used in) operating activities (net of acquired amounts from Champion):		-
Accounts receivable		777,634		(1,017,950)
Prepaid expense and other		(17,809)		40,915
Inventory		253,571		(1,089,198)
Inventory deposits		21,968		(41,074)
Lease deposits and other		(10,296)		-
Accounts payable and accrued expenses		2,640,204		(474,827)
Right-of-use lease liabilities		29,425		-
Net Cash (Used in) Operating Activities		(5,096,461)		(6,089,219)
CASH FLOW FROM INVESTING ACTIVITIES:
Purchase of Champion Entities		-		(275,000)
Disposition of property and equipment		5,910		1,402
Net Cash (Used in) Investing Activities		5,910		(273,598)
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from the sale of common stock, prefunded warrants and warrant inducement, net of offering costs		-		5,298,330
Proceeds from warrant exercise		-		6,150
Proceeds from line of credit		535,200		1,700,000
Principal payments on line of credit, net		-		(10,837)
Proceeds from loans - officer - related party		432,636		95,332
Proceeds from working capital loans, net		3,173,375		1,000,000
Principal payments on working capital loan		-		(449,675)
Net Cash Provided by Financing Activities		4,141,211		7,639,300
CHANGE IN CASH		(949,340)		1,276,483
CASH AT BEGINNING OF PERIOD		1,077,028		356,754
CASH AT END OF PERIOD		127,688		1,633,237
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for:
Interest		$1,148,957		$245,874
Income taxes	$	-	$	-

ContentsView on SEC.gov

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