Company: KAVL
Filing Date: 2025-03-17
Form Type: 10-Q
Source: 0001731122-25-000399
Chunk: 0

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-03-17
Form: 10-Q
Item: Item 1
Chunk 0
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Kaival Brands Innovations Group, Inc.

 Consolidated Balance Sheets

 (Unaudited)

January 31, 2025
 
October 31, 2024

ASSETS

CURRENT ASSETS

Cash
 
$
2,427,612

$
3,902,300

Accounts receivable, net

206,857

263,571

Prepaid expenses

189,883

344,312

Total current assets

2,824,352

4,510,183

Fixed assets, net

1,972

2,146

Intangible assets, net

10,485,309

10,681,911

Right of use asset - operating lease

759,108

810,036

TOTAL ASSETS
 
$
14,070,741

$
16,004,276

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES

Accounts payable
 
$
5,635

$
57,496

Accounts payable - related party

81,429

131,683

Loans payable, net

43,667

207,616

Accrued expenses

485,759

925,601

Operating lease obligation - short term

208,917

203,937

Total current liabilities

825,407

1,526,333

LONG TERM LIABILITIES

Operating lease obligation, net of current portion

608,190

662,271

TOTAL LIABILITIES

1,433,597

2,188,604

Commitments and Contingencies (Note 11)

— 

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STOCKHOLDERS’ EQUITY

 Preferred stock; 5,000,000 shares authorized

 Series A Convertible Preferred stock ($0.001 par value, 3,000,000 shares authorized, none issued and outstanding as of January 31, 2025 and October 31, 2024)

—

—

 Series B Convertible Preferred stock ($0.001 par value, 900,000 shares authorized, 900,000 issued and outstanding as of January 31, 2025 and October 31, 2024)

900

900

 Common stock ($.001 par value, 1,000,000,000 shares authorized, 11,542,302 and 8,517,302 shares issued and outstanding as of January 31, 2025 and October 31, 2024, respectively)

11,542

8,517