Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 113

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 1
Chunk 113
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 as the “June 2024 Public Offering’. The aggregate gross proceeds
to the Company from the June 2024 Public Offering were approximately $5,997,720, before deducting
placement agent fees and expenses and other transaction costs of $744,993. Of the total gross
proceeds, $2,672,145 and $3,325,575 were allocated
to the common stock and the pre-funded warrants, respectively.

    F-21

See further Common Warrants and Pre-Funded Warrants
details below.

Stock Options

Summary of stock options information is as follows:

Schedule of stock options information

Average

Aggregate Number
 
Aggregate   Exercise Price
 
Exercise Price Range
 
Exercise 
Price

Outstanding, October 31, 2022

152,489

$
8,921,429

$
21.63-602.28

$
58.50

Granted

300,188

5,314,460

10.08-20.72

17.66

Exercised

—

—

—

—

 Cancelled, forfeited, or expired

(3,571
)

(154,481
)

43.26

43.26

Outstanding, October 31, 2023

449,106

$
14,081,408

$
10.08-602.28

$
31.36

Granted

104,693

529,899

2.81-11.76

5.06

Exercised

—

—

—

—

Cancelled, forfeited, or expired

(364,209
)

(7,763,571
)

2.81-545.58

15.75

Outstanding, October 31, 2024

189,590

$
6,847,736

$
3.64-602.28

36.12

Exercisable, October 31, 2024

170,280

$
6,643,041

$
3.64-602.28

$
39.01

During the years ended October 31, 2024, and 2023,
the Company recognized $108,234 and $3,168,430, respectively of stock option expense related to outstanding stock options. The weighted-average
grant-date fair value of the options granted during the fiscal years ended October 31, 2024 and October 31, 2023 were $5.03 and $15.81, respectively.

The total fair value of