Company: KAVL
Filing Date: 2025-09-16
Form Type: 10-Q
Source: 0001731122-25-001266
Chunk: 98

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-09-16
Form: 10-Q
Item: Item 8
Chunk 98
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 Exercise  Price
  
    Outstanding, October 31, 2024 
     5,754,686  
    $19,826,116  
    $1.16-126.00  
    $3.45 
  
    Granted 
     —  
     —  
     —  
     — 
  
    Exercised 
     —  
     —  
     —  
     — 
  
    Cancelled, forfeited, or expired 
     —  
     —  
    —  
     — 
  
    Outstanding, July 31, 2025 
     5,754,686  
    $19,826,116  
    $1.16-126.00  
    $3.45 
  
    Exercisable, July 31, 2025 
     5,754,686  
    $19,826,116  
    $1.16-126.00  
    $3.45 

The weighted average remaining contractual life is
approximately 3.81 years for common stock warrants outstanding as of July 31, 2025. As of July 31, 2025, there was no intrinsic value
of outstanding stock warrants.

Note 8 – Related-Party Transactions

In March 2020, the Company commenced business operations
as a result of becoming the exclusive distributor of certain ENDS and related components (the “Products”) manufactured by
Bidi, a related party company that was also owned by Nirajkumar Patel, the former Chief Executive Officer and Director of the Company.

    F-18

Revenue and Accounts Receivable

During the nine months ended July 31, 2025, and 2024,
the Company recognized revenue of 0zero and $5,950, respectively, from one company owned by Nirajkumar Patel, the former Chief Executive
Officer and Director of the Company, and/or his wife. There was no accounts receivable balance for these transactions as of July 31, 2025
and October 31, 2024.

Purchases and Accounts Payable

There were no purchases of inventory from Bidi for
the nine months ended July 31, 2025 and no amounts owed to Bidi for inventory purchases as of July 31, 2025.

During the nine months ended July 31, 2024,