10-Q Filing

Kaival Brands Innovations Group, Inc. CIK: 1762239 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001731122-20-000584`
Period End Date	20200430
Filing Date	20200527
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	kavl-20200430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 56 Cash Flow Statement 34 Stockholders Equity 20

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash in bank	`Cash`	$1.97M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash in bank	`Cash`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.21M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outsanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outsanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedPartiesCurrent`	$5.07K	USD	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	-	USD	Point-in-time
Inventories	`InventoryNet`	$16.42K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$5.21M	USD	Point-in-time
TOTAL ASSETS	`Assets`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	572.36M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	572.36M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$5.21M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$44.89K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	572.36M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	572.36M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.49K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$1.26M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.44M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$44.89K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$44.89K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.44M	USD	Point-in-time
Preferred stock ($.001 par value, 5,000,000 shares authorized, none issued and outstanding as of April 30, 2020 and October 31, 2019)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock ($.001 par value, 5,000,000 shares authorized, none issued and outstanding as of April 30, 2020 and October 31, 2019)	`PreferredStockValue`	-	USD	Point-in-time
Common stock ($.001 par value, 1,000,000,000 shares authorized, 572,364,574 issued and outstanding as of April 30, 2020 and October 31, 2019)	`CommonStockValue`	$572.37K	USD	Point-in-time
Common stock ($.001 par value, 1,000,000,000 shares authorized, 572,364,574 issued and outstanding as of April 30, 2020 and October 31, 2019)	`CommonStockValue`	$572.37K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$-544.03K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$-516.87K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$2.71M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-73.22K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-31.36K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-9.03K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$2.77M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-9.75K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-44.89K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-3.00K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$5.21M	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenue`	$22.47M	USD	1 Quarter
Revenues	`Revenue`	-	USD	2 Qtrs
Revenues	`Revenue`	$22.47M	USD	2 Qtrs
Revenues	`Revenue`	-	USD	1 Quarter
Revenues - related parties	`RevenueFromRelatedParties`	$32.48K	USD	2 Qtrs
Revenues - related parties	`RevenueFromRelatedParties`	$32.48K	USD	1 Quarter
Revenues - related parties	`RevenueFromRelatedParties`	-	USD	2 Qtrs
Revenues - related parties	`RevenueFromRelatedParties`	-	USD	1 Quarter
Total revenues	`Revenues`	$22.51M	USD	1 Quarter
Total revenues	`Revenues`	-	USD	2 Qtrs
Total revenues	`Revenues`	-	USD	1 Quarter
Total revenues	`Revenues`	$22.51M	USD	2 Qtrs
Cost of revenue - related party	`CostOfRevenueRelatedParty`	-	USD	2 Qtrs
Cost of revenue - related party	`CostOfRevenueRelatedParty`	$18.30M	USD	1 Quarter
Cost of revenue - related party	`CostOfRevenueRelatedParty`	-	USD	1 Quarter
Cost of revenue - related party	`CostOfRevenueRelatedParty`	$18.30M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	-	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	-	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$18.30M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$18.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.20M	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.20M	USD	2 Qtrs
Selling expenses	`SellingExpense`	-	USD	1 Quarter
Selling expenses	`SellingExpense`	$260.00K	USD	2 Qtrs
Selling expenses	`SellingExpense`	$260.00K	USD	1 Quarter
Selling expenses	`SellingExpense`	-	USD	2 Qtrs
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$198.09K	USD	1 Quarter
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$18.18K	USD	2 Qtrs
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$211.03K	USD	2 Qtrs
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$4.22K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.18K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$4.22K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$458.09K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$471.02K	USD	2 Qtrs
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.75M	USD	1 Quarter
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.22K	USD	1 Quarter
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.73M	USD	2 Qtrs
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.18K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$950.43K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$950.43K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.78M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-18.18K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$2.80M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.22K	USD	1 Quarter
Net income (loss) per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net income (loss) per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net income (loss) per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net income (loss) per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	572.36M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	572.36M	shares	2 Qtrs
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	572.36M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	572.36M	shares	2 Qtrs

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$2.78M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-18.18K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$2.80M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.22K	USD	1 Quarter
Expenses contributed to capital	`ProceedsFromContributionsFromAffiliates`	$27.16K	USD	2 Qtrs
Expenses contributed to capital	`ProceedsFromContributionsFromAffiliates`	$12.16K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.21M	USD	2 Qtrs
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$5.07K	USD	2 Qtrs
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$16.42K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$19.49K	USD	2 Qtrs
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	2 Qtrs
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$1.26M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.12M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$6.03K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.97M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.97M	USD	2 Qtrs
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning	`StockholdersEquity`	$-31.36K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-9.03K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$2.77M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-9.75K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-44.89K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-3.00K	USD	Point-in-time
Expenses paid on behalf of the Company and contributed to capital	`Expensespaidonbehalfofcompany`	$4.95K	USD	1 Quarter
Expenses paid on behalf of the Company and contributed to capital	`Expensespaidonbehalfofcompany`	$26.46K	USD	1 Quarter
Expenses paid on behalf of the Company and contributed to capital	`Expensespaidonbehalfofcompany`	$7.21K	USD	1 Quarter
Expenses paid on behalf of the Company and contributed to capital	`Expensespaidonbehalfofcompany`	$700.00	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-12.93K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-4.22K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-13.96K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$2.80M	USD	1 Quarter
Balance at end	`StockholdersEquity`	$-31.36K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-9.03K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$2.77M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-9.75K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-44.89K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-3.00K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.