Company: KAVL
Filing Date: 2025-03-17
Form Type: 10-Q
Source: 0001731122-25-000399
Chunk: 1

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

Additional paid-in capital

54,149,012

51,269,485

Accumulated deficit

(41,524,310
)

(37,463,230
)

TOTAL STOCKHOLDERS’ EQUITY

12,637,144

13,815,672

TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
 
$
14,070,741

$
16,004,276

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

F-1 

 Kaival Brands Innovations Group, Inc.

Consolidated Statements of Operations

(Unaudited)

For the Three Months Ended January 31,

2025
 
2024

Revenues

Revenues, net
 
$
42,682

$
2,991,280

Revenues - related party

—

1,900

Royalty revenue

159,921

240,000

Excise tax on products

—

(21,607
)

Total revenues, net

202,603

3,211,573

Cost of revenues

Cost of revenue - related party

—

2,013,435

Total cost of revenue

—

2,013,435

Gross profit

202,603

1,198,138

Operating expenses

Advertising and promotion

—

404,892

General and administrative expenses

4,278,533

2,507,868

Total operating expenses

4,278,533

2,912,760

Other expense

Loss on extinguishment of debt

—

(98,432
)

Interest expense, net

(4,092
)

(299,917
)

Total other expense

(4,092
)

(398,349
)

Loss before income taxes provision

(4,080,022
)

(2,112,971
)

Benefit from (provision for) income taxes

18,942

(715
)

Net loss
 
$
(4,061,080
)
 
$
(2,113,686
)

Preferred stock dividend

(22,500
)

(67,500
)

Net loss attributable to common shareholders
 
$
(4,083,580
)
 
$
(2,181,186
)

Net loss per common share - basic and diluted
 
$
(0.43
)
 
$
(0.76
)

Weighted average number of common shares outstanding - basic and diluted

9,503,715