10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001731122-21-000225`
Period End Date	20201031
Filing Date	20210212
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	kavl-20201031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 35 Cash Flow Statement 43 Stockholders Equity 18

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	-	USD	Point-in-time
Cash	`Cash`	$7.42M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.40M	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`	$15.36K	USD	Point-in-time
Inventories	`InventoryNet`	-	USD	Point-in-time
Inventories	`InventoryNet`	$6.38K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.85M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Right of use asset- operating lease	`OperatingLeaseRightOfUseAsset`	$70.13K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$8.92M	USD	Point-in-time
TOTAL ASSETS	`Assets`	-	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`	-	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`	$1.41M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	277.28M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.06M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	572.36M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$44.89K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	572.36M	shares	Point-in-time
Income tax accrual	`AccruedIncomeTaxesCurrent`	$1.33M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	277.28M	shares	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	-	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$623.10K	USD	Point-in-time
Office lease liability - short term	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Office lease liability - short term	`OperatingLeaseLiabilityCurrent`	$11.71K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.44M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$44.89K	USD	Point-in-time
Operating lease obligation, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$59.20K	USD	Point-in-time
Operating lease obligation, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$44.89K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.50M	USD	Point-in-time
Preferred stock 5,000,000 shares authorized; Series A Convertible Preferred stock ($.001 par value, 3,000,000 shares authorized, 3,000,000 and none issued and outstanding as of October 31, 2020 and October 31, 2019, respectively)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock 5,000,000 shares authorized; Series A Convertible Preferred stock ($.001 par value, 3,000,000 shares authorized, 3,000,000 and none issued and outstanding as of October 31, 2020 and October 31, 2019, respectively)	`PreferredStockValue`	$3.00K	USD	Point-in-time
Common stock ($.001 par value, 1,000,000,000 shares authorized, 277,282,630 and 572,364,574 issued and outstanding as of October 31, 2020 and October 31, 2019, respectively)	`CommonStockValue`	$277.28K	USD	Point-in-time
Common stock ($.001 par value, 1,000,000,000 shares authorized, 277,282,630 and 572,364,574 issued and outstanding as of October 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`	$364.73K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$3.77M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-73.22K	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`	$-44.89K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$4.42M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$4.42M	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$8.92M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenue`	-	USD	Annual
Revenues	`Revenue`	$64.74M	USD	Annual
Revenues - related parties	`RevenueFromRelatedParties`	$233.96K	USD	Annual
Revenues - related parties	`RevenueFromRelatedParties`	-	USD	Annual
Excise tax on products	`TaxesAndLicenses`	$662.30K	USD	Annual
Excise tax on products	`TaxesAndLicenses`	-	USD	Annual
Total revenues	`Revenues`	-	USD	Annual
Total revenues	`Revenues`	$64.31M	USD	Annual
Cost of revenue - related party	`CostOfRevenueRelatedParty`	$53.98M	USD	Annual
Cost of revenue - related party	`CostOfRevenueRelatedParty`	-	USD	Annual
Cost of revenue - other	`OtherCostOfOperatingRevenue`	$273.88K	USD	Annual
Total cost of revenue	`CostOfRevenue`	$54.26M	USD	Annual
Total cost of revenue	`CostOfRevenue`	-	USD	Annual
Gross profit	`GrossProfit`	$10.06M	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Advertising and Promotions	`MarketingAndAdvertisingExpense`	$2.34M	USD	Annual
Advertising and Promotions	`MarketingAndAdvertisingExpense`	-	USD	Annual
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$68.85K	USD	Annual
General & Administrative expenses	`GeneralAndAdministrativeExpense`	$2.36M	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.70M	USD	Annual
Total operating expenses	`OperatingExpenses`	$68.85K	USD	Annual
Interest Income	`InvestmentIncomeNet`	$1.05K	USD	Annual
Interest Income	`InvestmentIncomeNet`	-	USD	Annual
Total Other Income	`NonoperatingIncomeExpense`	$1.05K	USD	Annual
Total Other Income	`NonoperatingIncomeExpense`	-	USD	Annual
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.36M	USD	Annual
Income (loss) before income taxes provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-68.85K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.51M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-68.85K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$3.85M	USD	Annual
Net income (loss) per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	Annual
Net income (loss) per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	516.21M	shares	Annual
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	572.36M	shares	Annual

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-68.85K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$3.85M	USD	Annual
Stock based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	Annual
Stock based compensation	`AllocatedShareBasedCompensationExpense`	$769.44K	USD	Annual
ROU operating lease expense	`RouOperatingLeaseExpense`	$3.62K	USD	Annual
ROU operating lease expense	`RouOperatingLeaseExpense`	-	USD	Annual
Expenses contributed to capital	`ProceedsFromContributionsFromAffiliates`	$27.16K	USD	Annual
Expenses contributed to capital	`ProceedsFromContributionsFromAffiliates`	$26.96K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.40M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$15.36K	USD	Annual
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$6.38K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	-	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$623.10K	USD	Annual
Payments on operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-2.84K	USD	Annual
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$1.41M	USD	Annual
Accrued taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$1.33M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$41.89K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.02M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.60M	USD	Annual
Settled RSU shares with cash	`SettledRsuSharesWithCash`	$179.92K	USD	Annual
Settled RSU shares with cash	`SettledRsuSharesWithCash`	-	USD	Annual
Cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-179.92K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.42M	USD	Annual
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$7.42M	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$7.42M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	$182.93K	USD	Annual
Initial Recognition of ROU Asset and Liability	`InitialRecognitionOfRouAssetAndLiability`	$73.75K	USD	Annual
Initial Recognition of ROU Asset and Liability	`InitialRecognitionOfRouAssetAndLiability`	-	USD	Annual
Conversion of common shares into Series A Preferred	`ConversionOfCommonSharesIntoSeriesPreferred`	$3.00K	USD	Annual
Conversion of common shares into Series A Preferred	`ConversionOfCommonSharesIntoSeriesPreferred`	-	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning	`StockholdersEquity`	$-44.89K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-3.00K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$-44.89K	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$4.42M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$4.42M	USD	Point-in-time
Issuance of common shares for employee compensation	`IssuanceOfCommonSharesForEmployeeCompensation`	$158.26K	USD	Annual
Issuance of common shares for compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	$611.18K	USD	Annual
Common shares settled and cancelled	`CommonSharesSettledAndCancelled`	$-179.92K	USD	Annual
Return of common shares in exchange for Series A convertible preferred shares	`ReturnOfCommonSharesInExchangeForSeriesConvertiblePreferredShares`	-	USD	Annual
Expenses paid on behalf of the Company and contributed to capital	`Expensespaidonbehalfofcompany`	$27.16K	USD	Annual
Expenses paid on behalf of the Company and contributed to capital	`Expensespaidonbehalfofcompany`	$26.96K	USD	Annual
Net Income (loss)	`ProfitLoss`	$3.85M	USD	Annual
Net Income (loss)	`ProfitLoss`	$-68.85K	USD	Annual
Balance at end	`StockholdersEquity`	$-44.89K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-3.00K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$-44.89K	USD	Point-in-time
Balance at end	`StockholdersEquity`	$4.42M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$4.42M	USD	Point-in-time

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