Kaival Brands Innovations Group Inc
For the period ended Jul 31, 2024. Filed Sep 20, 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.
Jul 31, 2024 · Filed Sep 20, 2024
KAVL$0.02-4.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| For the Nine Months Ended | For the Nine Months Ended | |
|---|---|---|
| July 31, 2024 | July 31, 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(5,212,725) | $(8,757,200) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Stock based compensation | 62,000 | — |
| Depreciation and amortization | 590,319 | 131,530 |
| Amortization of debt discount | 163,064 | — |
| Loss on extinguishment of debt | 98,432 | — |
| Stock options expense | 76,932 | 3,385,946 |
| Stock warrant expense | — | 141,816 |
| Bad debt expense | 1,925 | 4,622 |
| Reserve for credit losses | 203,382 | — |
| ROU operating lease expense | 148,012 | 142,202 |
| Write-off of inventory | 57,643 | 105,057 |
| Changes in current assets and liabilities: | ||
| Accounts receivable | 1,141,786 | (140,624) |
| Other receivable - related party | — | 727,205 |
| Prepaid expenses | 354,330 | 253,806 |
| Inventory | 3,813,817 | (2,457,323) |
| Income tax receivable | — | 1,607,302 |
| Accounts payable | (300,998) | 84,988 |
| Accounts payable - related party | (991,817) | 2,308,373 |
| Accrued expenses | (18,579) | (603,641) |
| Deferred revenue | — | (235,274) |
| Customer deposits | — | (44,973) |
| Customer refunds due | 69,312 | 618,403 |
| Operating lease obligations | (136,014) | (122,205) |
| Net cash provided by (used in) operating activities | 120,821 | (2,849,990) |
| 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 loans payable | 1,106,732 | 751,030 |
| Payments on loans payable | (2,271,613) | (267,952) |
| Payments on loans payable – related party | (218,787) | — |
| Proceeds from the issuance of common stock, warrants, and pre-funded warrants | 5,997,720 | — |
| Payments for issuance costs | (744,993) | — |
| Proceeds from exercises of pre-funded warrants | 1,450 | — |
| Net cash provided by financing activities | 3,870,509 | 483,078 |
| Net change in cash | 3,991,330 | (2,682,681) |
| Beginning cash balance | 533,659 | 3,685,893 |
| Ending cash balance | $4,524,989 | $1,003,212 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Interest paid | $562,402 | $135,135 |
| Income taxes paid | $— | $— |
| NON-CASH TRANSACTIONS | ||
|---|---|---|
| Preferred stock dividend | $202,500 | $45,000 |
| Cashless exercise of pre-funded warrants | $724 | $— |
| Insurance financed by third party | $475,481 | $— |
| Franchise fees paid by related party | $218,787 | $— |
| Common shares issued for acquisition intangible assets | $— | $1,119,800 |
| Common shares issued for services-transaction cost | $— | $51,510 |
| Series B preferred stock shares issued for acquisition intangible assets | $— | $9,047,980 |
| Stock warrants issued for acquisition intangible assets | $— | $1,264,396 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.