Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 201

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 1A
Chunk 201
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ERS’ EQUITY

13,815,672

13,557,011

TOTAL
LIABILITIES & STOCKHOLDERS’ EQUITY
 
$
16,004,276

$
19,385,006

The accompanying notes are an integral part of these
consolidated financial statements.

F-3

Kaival Brands Innovations Group, Inc.

Consolidated Statements of Operations

For the Years Ended October 31,

2024
 
2023

Revenues

Revenues, net
 
$
5,882,597

$
12,395,134

Revenues - related party

5,950

10,828

Royalty revenue

1,040,759

780,929

Excise tax on products

(42,641
)

(99,873
)

Total revenues, net

6,886,665

13,087,018

Cost of revenues

Cost of revenue - related party

4,281,171

10,512,423

Total cost of revenue

4,281,171

10,512,423

Gross profit

2,605,494

2,574,595

Operating expenses

Advertising and promotion

686,292

2,450,721

General and administrative expenses

7,628,050

10,787,775

Total operating expenses

8,314,342

13,238,496

Other expense

Loss on extinguishment of debt

(98,432
)

—

Loss on settlement of payables

(142,786
)

—

Interest expense, net

(729,558
)

(466,523
)

Total other expense

(970,776
)

(466,523
)

Loss before income taxes provision

(6,679,624
)

(11,130,424
)

Provision for income taxes

19,658

2,348

Net loss
 
$
(6,699,282
)
 
$
(11,132,772
)

Preferred stock dividend

(270,000
)

(112,500
)

Net loss attributable to common shareholders
 
$
(6,969,282
)
 
$
(11,245,272
)

Net loss per common share - basic and diluted
 
$
(1.62
)
 
$
(4.13
)

Weighted average number of common shares outstanding - basic and diluted

4,313,900

2,721,080

The accompanying notes are