Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 356

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 1B
Chunk 356
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 improvements thereon. Just Pick is considered a related party because our Chief Executive
Officer and director, Mr. Nirajkumar Patel, owns and controls Just Pick. 

58

Policies and Procedures for Related Party Transactions

We follow ASC 850, Related Party
Disclosures, for the identification of related parties and disclosure of related party transactions. When and if we contemplate entering
into a transaction in which any executive officer, director, nominee, or any family member of the foregoing would have a direct or indirect
interest, regardless of the amount involved, the terms of such transaction are presented to our board of directors (other than any interested
director, if possible) for approval and documented in the board minutes.

Item 14. Principal Accounting Fees and Services.  

Below
                                            is the aggregate amount of fees billed for professional services rendered by Malone Bailey,
                                            LLP, our principal accountants with respect to our fiscal year ended October 31, 2024, and
                                            October 31, 2023. 

    2024 
    2023
  
    Audit and review fees 
    $227,120  
    $286,725 
  
    Audit-related fees 
     —  
     — 
  
    Tax fees 
     —  
     — 
  
    All other fees 
     154,198  
     — 
  
    Total 
    $381,318  
    $286,725 

Pre-Approval Policies and Procedures

All audit fees are approved by
the Audit Committee of our Board. The Audit Committee reviews, and in its sole discretion, pre-approves, our independent auditors’
annual engagement letter, including proposed fess and all audit and non-audit services provided by the independent auditors. Accordingly,
all services described under “Audit Fees,” “Audit-related Fees,” “All Other Fees,” and “Tax
Fees,” as applicable, were pre-approved by our Audit Committee. The Audit Committee may not engage independent auditors to perform
the non-audit services prohibited by law or regulations.

PART IV  

Item 15. Exhibits, Financial Statement Schedules.

a) Financial Statements

1. Our financial statements are listed in
the index under Item 8 of this document; and

2. All financial statement schedules are
omitted because they are not applicable, not material or the required information is shown in the financial statements or notes thereto.

(b) Exhibits required by