10-Q Filing

Kaival Brands Innovations Group, Inc. CIK: 1762239 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001731122-20-000946`
Period End Date	20200731
Filing Date	20200914
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	kavl-20200731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 64 Cash Flow Statement 35 Stockholders Equity 28

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash in bank	`Cash`	$2.67M	USD	Point-in-time
Cash in bank	`Cash`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$7.03M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedPartiesCurrent`	-	USD	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedPartiesCurrent`	$19.91K	USD	Point-in-time
Inventories	`InventoryNet`	-	USD	Point-in-time
Inventories	`InventoryNet`	$9.36K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$9.73M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$9.73M	USD	Point-in-time
TOTAL ASSETS	`Assets`	-	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$44.89K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$27.81K	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesCurrent`	$1.40M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$4.28M	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
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	576.50M	shares	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.71M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	572.36M	shares	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`	$5.71M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	572.36M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	576.50M	shares	Point-in-time
Preferred stock 5,000,000 shares authorized; Series A preferred stock ($.001 par value, 3,000,000 shares authorized, none issued and outstanding as of July 31, 2020 and October 31, 2019)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock 5,000,000 shares authorized; Series A preferred stock ($.001 par value, 3,000,000 shares authorized, none issued and outstanding as of July 31, 2020 and October 31, 2019)	`PreferredStockValue`	-	USD	Point-in-time
Common stock ($.001 par value, 1,000,000,000 shares authorized, 576,495,148 and 572,364,574 issued and outstanding as of July 31, 2020 and October 31, 2019, respectively)	`CommonStockValue`	$576.50K	USD	Point-in-time
Common stock ($.001 par value, 1,000,000,000 shares authorized, 576,495,148 and 572,364,574 issued and outstanding as of July 31, 2020 and October 31, 2019, respectively)	`CommonStockValue`	$572.37K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$-544.03K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$-200.84K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-73.22K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$3.65M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-9.03K	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 Stockholders' Equity (Deficit)	`StockholdersEquity`	$4.02M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-30.65K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-9.75K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-31.36K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$1.10M	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$9.73M	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenue`	$54.92M	USD	3 Qtrs
Revenues	`Revenue`	-	USD	3 Qtrs
Revenues	`Revenue`	-	USD	1 Quarter
Revenues	`Revenue`	$32.42M	USD	1 Quarter
Revenues - related parties	`RevenueFromRelatedParties`	$86.52K	USD	3 Qtrs
Revenues - related parties	`RevenueFromRelatedParties`	-	USD	1 Quarter
Revenues - related parties	`RevenueFromRelatedParties`	-	USD	3 Qtrs
Revenues - related parties	`RevenueFromRelatedParties`	$54.04K	USD	1 Quarter
Excise tax on products	`TaxesAndLicenses`	$101.72K	USD	1 Quarter
Excise tax on products	`TaxesAndLicenses`	-	USD	1 Quarter
Excise tax on products	`TaxesAndLicenses`	$128.95K	USD	3 Qtrs
Excise tax on products	`TaxesAndLicenses`	-	USD	3 Qtrs
Total net revenues	`Revenues`	-	USD	3 Qtrs
Total net revenues	`Revenues`	$54.88M	USD	3 Qtrs
Total net revenues	`Revenues`	$32.38M	USD	1 Quarter
Total net revenues	`Revenues`	-	USD	1 Quarter
Cost of revenue - related party	`CostOfRevenueRelatedParty`	-	USD	3 Qtrs
Cost of revenue - related party	`CostOfRevenueRelatedParty`	$27.86M	USD	1 Quarter
Cost of revenue - related party	`CostOfRevenueRelatedParty`	-	USD	1 Quarter
Cost of revenue - related party	`CostOfRevenueRelatedParty`	$47.77M	USD	3 Qtrs
Cost of revenue - other	`OtherCostOfOperatingRevenue`	-	USD	3 Qtrs
Cost of revenue - other	`OtherCostOfOperatingRevenue`	$115.87K	USD	1 Quarter
Cost of revenue - other	`OtherCostOfOperatingRevenue`	$173.45K	USD	3 Qtrs
Cost of revenue - other	`OtherCostOfOperatingRevenue`	-	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$27.98M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	-	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	-	USD	3 Qtrs
Total cost of revenue	`CostOfRevenue`	$47.94M	USD	3 Qtrs
Gross profit	`GrossProfit`	$6.94M	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$4.40M	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Commissions	`SalesCommissionsAndFees`	-	USD	1 Quarter
Commissions	`SalesCommissionsAndFees`	-	USD	3 Qtrs
Commissions	`SalesCommissionsAndFees`	$769.13K	USD	1 Quarter
Commissions	`SalesCommissionsAndFees`	$1.03M	USD	3 Qtrs
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$27.14K	USD	1 Quarter
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$45.32K	USD	3 Qtrs
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$915.76K	USD	3 Qtrs
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$704.74K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.47M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.94M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$45.32K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$27.14K	USD	1 Quarter
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.93M	USD	1 Quarter
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-45.32K	USD	3 Qtrs
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-27.14K	USD	1 Quarter
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.99M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$320.41K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.27M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-45.32K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.72M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$2.61M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-27.14K	USD	1 Quarter
Net income (loss) per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	3 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
Net income (loss) per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	3 Qtrs
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	572.36M	shares	3 Qtrs
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	573.50M	shares	3 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`	575.75M	shares	1 Quarter

Cash Flow Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-45.32K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.72M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$2.61M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-27.14K	USD	1 Quarter
Stock based compensation	`AllocatedShareBasedCompensationExpense`	$320.16K	USD	3 Qtrs
Stock based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	3 Qtrs
Expenses contributed to capital	`ProceedsFromContributionsFromAffiliates`	$17.67K	USD	3 Qtrs
Expenses contributed to capital	`ProceedsFromContributionsFromAffiliates`	$27.16K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.03M	USD	3 Qtrs
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$19.91K	USD	3 Qtrs
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$9.36K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	-	USD	3 Qtrs
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	3 Qtrs
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$4.28M	USD	3 Qtrs
Accrued taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$1.40M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$27.65K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-17.07K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.67M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	3 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.67M	USD	3 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	3 Qtrs
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	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`	$2.67M	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning	`StockholdersEquity`	$-9.03K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-44.89K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-3.00K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$4.02M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-30.65K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-9.75K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-31.36K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$1.10M	USD	Point-in-time
Issuance of common shares for compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	$320.16K	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`	$26.46K	USD	1 Quarter
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`	$700.00	USD	1 Quarter
Expenses paid on behalf of the Company and contributed to capital	`Expensespaidonbehalfofcompany`	$5.51K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-4.22K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-27.14K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$2.61M	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$1.13M	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-12.93K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-13.96K	USD	1 Quarter
Balance at end	`StockholdersEquity`	$-9.03K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-44.89K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-3.00K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$4.02M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-30.65K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-9.75K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-31.36K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$1.10M	USD	Point-in-time

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