Kaival Brands Innovations Group Inc
For the period ended Oct 31, 2023. Filed Feb 14, 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 Feb 14, 2024
KAVL$0.02-4.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| For the Year Ended | For the Year Ended | |
|---|---|---|
| October 31, 2023 | October 31, 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(11,132,772) | $(14,370,335) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock based compensation | — | 237,702 |
| Stock options expense | 3,168,430 | 6,043,312 |
| Stock warrants expense | 218,909 | — |
| Depreciation and amortization | 328,304 | — |
| Amortization of debt discount | 463,160 | — |
| Bad debt expense | 47,727 | — |
| ROU operating lease expense | 190,541 | 132,890 |
| Inventory reserve | 381,512 | — |
| Write-off of inventory | 105,057 | 259,563 |
| Changes in current assets and liabilities: | ||
| Accounts receivable | (1,342,397) | 1,410,580 |
| Other receivable - related party | 3,704,132 | (3,704,132) |
| Prepaid expenses | 325,739 | (106,876) |
| Inventory | (3,318,668) | 13,827,082 |
| Inventory deposit - related party | — | 2,925,000 |
| Income tax receivable | 1,607,302 | 146,292 |
| Accounts payable | 334,309 | (202,806) |
| Accounts payable - related party | 2,474,817 | (12,667,769) |
| Accrued expenses | (475,463) | 519,553 |
| Deferred revenue | (235,274) | 235,274 |
| Customer deposits | (44,973) | 44,973 |
| Customer refunds due | 392,406 | (316,800) |
| Right of use liabilities - operating lease | (166,052) | (118,633) |
| Net cash used in operating activities | (2,973,254) | (5,705,130) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Cash paid for equipment | (3,480) | — |
| Transaction acquisition costs | (312,289) | — |
| Net cash used in investing activities | (315,769) | — |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from the exercise of warrants | — | 1,625,650 |
| Settled RSU shares with cash | — | (59,862) |
| Proceeds from loans payable | 1,272,980 | — |
| Payments on loans payable | (1,136,191) | — |
| Net cash provided by financing activities | 136,789 | 1,565,788 |
| Net change in cash | $(3,152,234) | $(4,139,342) |
| Beginning cash balance | 3,685,893 | 7,825,235 |
| Ending cash balance | $533,659 | $3,685,893 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Interest paid | $3,363 | $— |
| Income taxes paid | $— | $— |
| NON-CASH TRANSACTIONS | ||
| Common shares issued for acquisition of intangible assets | $1,119,800 | $— |
| Common shares issued for services-transaction cost | $51,510 | $— |
| Series B preferred stock shares issued for acquisition of intangible assets | $9,047,980 | $— |
| Stock warrants issued for acquisition of intangible assets | $1,264,396 | $— |
| Preferred stock dividend | $112,500 | $— |
| Insurance financed by third party | $330,000 | $— |
| Common stock issued for note payable financing | $130,478 | $— |
| Conversion of Series A Preferred Stock Shares to Common Stock Shares | $— | $25,000 |
| New ROU leased asset recognized | $— | $1,276,255 |
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