10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001731122-24-000480 |
| Period End Date | 20240131 |
| Filing Date | 20240325 |
| Fiscal Year | 2024 |
| Fiscal Period | Q1 |
| XBRL Instance | e5504_10q_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
62 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
5.00M | shares | Point-in-time |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
5.00M | shares | Point-in-time |
| Cash |
Cash
|
$533.66K | USD | Point-in-time |
| Cash |
Cash
|
$591.29K | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$743.96K | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$1.87M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$2.06M | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$4.07M | USD | Point-in-time |
| Common stock, par value |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Inventory deposit related party |
InventoryDepositRelatedParty
|
- | USD | Point-in-time |
| Common stock, par value |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Inventory deposit related party |
InventoryDepositRelatedParty
|
$273.06K | USD | Point-in-time |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
1.00B | shares | Point-in-time |
| Prepaid expenses |
PrepaidExpenseCurrent
|
$430.67K | USD | Point-in-time |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
1.00B | shares | Point-in-time |
| Prepaid expenses |
PrepaidExpenseCurrent
|
$369.03K | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$6.91M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$4.04M | USD | Point-in-time |
| Common stock, shares issued |
CommonStockSharesIssued
|
2.86M | shares | Point-in-time |
| Common stock, shares issued |
CommonStockSharesIssued
|
2.79M | shares | Point-in-time |
| Common stock, shares outstanding |
CommonStockSharesOutstanding
|
2.86M | shares | Point-in-time |
| Fixed assets, net |
OtherAssetsNoncurrent
|
$2.67K | USD | Point-in-time |
| Common stock, shares outstanding |
CommonStockSharesOutstanding
|
2.79M | shares | Point-in-time |
| Fixed assets, net |
OtherAssetsNoncurrent
|
$2.84K | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNonCurrent
|
$11.27M | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNonCurrent
|
$11.47M | USD | Point-in-time |
| Right of use asset- operating lease |
OperatingLeaseRightOfUseAsset
|
$959.59K | USD | Point-in-time |
| Right of use asset- operating lease |
OperatingLeaseRightOfUseAsset
|
$1.01M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$16.27M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$19.39M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$374.33K | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$304.60K | USD | Point-in-time |
| Accounts payable- related party |
DueToOtherRelatedPartyClassifiedCurrent
|
$2.47M | USD | Point-in-time |
| Accounts payable- related party |
DueToOtherRelatedPartyClassifiedCurrent
|
$1.41M | USD | Point-in-time |
| Loans payable, net |
LoansPayableCurrent
|
$821.89K | USD | Point-in-time |
| Loans payable, net |
LoansPayableCurrent
|
$799.47K | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$695.44K | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$736.19K | USD | Point-in-time |
| Customer deposits |
CustomerDepositsCurrent
|
$50.00K | USD | Point-in-time |
| Customer deposits |
CustomerDepositsCurrent
|
- | USD | Point-in-time |
| Customer refund due |
CustomerRefundLiabilityCurrent
|
$392.41K | USD | Point-in-time |
| Customer refund due |
CustomerRefundLiabilityCurrent
|
$229.55K | USD | Point-in-time |
| Operating lease obligation short term |
LongTermDebtAndCapitalLeaseObligation
|
$189.33K | USD | Point-in-time |
| Operating lease obligation short term |
LongTermDebtAndCapitalLeaseObligation
|
$184.57K | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$4.96M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$3.70M | USD | Point-in-time |
| Operating lease obligation, net of current portion |
OperatingLeaseLiabilityNoncurrent
|
$817.11K | USD | Point-in-time |
| Operating lease obligation, net of current portion |
OperatingLeaseLiabilityNoncurrent
|
$866.21K | USD | Point-in-time |
| TOTAL LIABILITIES |
Liabilities
|
$5.83M | USD | Point-in-time |
| TOTAL LIABILITIES |
Liabilities
|
$4.52M | USD | Point-in-time |
| Common stock ($0.001 par value, 1,000,000,000 shares authorized, 2,863,002 and 2,793,386 issued and outstanding as of January 31, 2024, and October 31, 2023, respectively) |
CommonStockValue
|
$2.86K | USD | Point-in-time |
| Common stock ($0.001 par value, 1,000,000,000 shares authorized, 2,863,002 and 2,793,386 issued and outstanding as of January 31, 2024, and October 31, 2023, respectively) |
CommonStockValue
|
$2.79K | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$44.32M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$44.62M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-30.76M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-32.88M | USD | Point-in-time |
| Total Stockholders Equity |
StockholdersEquity
|
$13.56M | USD | Point-in-time |
| Total Stockholders Equity |
StockholdersEquity
|
$8.24M | USD | Point-in-time |
| Total Stockholders Equity |
StockholdersEquity
|
$11.75M | USD | Point-in-time |
| Total Stockholders Equity |
StockholdersEquity
|
$9.80M | USD | Point-in-time |
| TOTAL LIABILITIES & STOCKHOLDERS EQUITY |
LiabilitiesAndStockholdersEquity
|
$16.27M | USD | Point-in-time |
| TOTAL LIABILITIES & STOCKHOLDERS EQUITY |
LiabilitiesAndStockholdersEquity
|
$19.39M | USD | Point-in-time |
Income Statement
46 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss per common share, basic |
EarningsPerShareBasic
|
$-1.12 | USD | 1 Quarter |
| Net loss per common share, basic |
EarningsPerShareBasic
|
$-0.76 | USD | 1 Quarter |
| Net loss per common share, diluted |
EarningsPerShareDiluted
|
$-1.12 | USD | 1 Quarter |
| Revenues, net |
Revenue
|
$2.99M | USD | 1 Quarter |
| Revenues, net |
Revenue
|
$2.44M | USD | 1 Quarter |
| Net loss per common share, diluted |
EarningsPerShareDiluted
|
$-0.76 | USD | 1 Quarter |
| Revenues - related parties |
RevenueFromRelatedParty
|
$1.90K | USD | 1 Quarter |
| Weighted average number of common shares outstanding, basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
2.85M | shares | 1 Quarter |
| Revenues - related parties |
RevenueFromRelatedParty
|
$3.08K | USD | 1 Quarter |
| Weighted average number of common shares outstanding, basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
2.67M | shares | 1 Quarter |
| Weighted average number of common shares outstanding, diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
2.67M | shares | 1 Quarter |
| Weighted average number of common shares outstanding, diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
2.85M | shares | 1 Quarter |
| Royalty revenue |
RoyaltyRevenue
|
$240.00K | USD | 1 Quarter |
| Royalty revenue |
RoyaltyRevenue
|
$105.57K | USD | 1 Quarter |
| Excise tax on products |
ExciseTaxOnProducts
|
$18.57K | USD | 1 Quarter |
| Excise tax on products |
ExciseTaxOnProducts
|
$21.61K | USD | 1 Quarter |
| Total revenues, net |
Revenues
|
$3.21M | USD | 1 Quarter |
| Total revenues, net |
Revenues
|
$2.53M | USD | 1 Quarter |
| Cost of revenue - related party |
CostOfRevenueRelatedParty
|
$2.01M | USD | 1 Quarter |
| Cost of revenue - related party |
CostOfRevenueRelatedParty
|
$1.99M | USD | 1 Quarter |
| Total cost of revenue |
CostOfRevenue
|
$1.99M | USD | 1 Quarter |
| Total cost of revenue |
CostOfRevenue
|
$2.01M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$540.12K | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$1.20M | USD | 1 Quarter |
| Advertising and promotions |
MarketingAndAdvertisingExpense
|
$404.89K | USD | 1 Quarter |
| Advertising and promotions |
MarketingAndAdvertisingExpense
|
$588.91K | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$2.51M | USD | 1 Quarter |
| General and administrative expenses |
GeneralAndAdministrativeExpense
|
$2.96M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$2.91M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$3.55M | USD | 1 Quarter |
| Loss on extinguishment of debt |
ExtinguishmentOfDebtAmount
|
- | USD | 1 Quarter |
| Loss on extinguishment of debt |
ExtinguishmentOfDebtAmount
|
$98.43K | USD | 1 Quarter |
| Interest (expense) income, net |
InterestIncomeExpenseNet
|
$-299.92K | USD | 1 Quarter |
| Interest (expense) income, net |
InterestIncomeExpenseNet
|
$11.95K | USD | 1 Quarter |
| Total other (expense) income |
NonoperatingIncomeExpense
|
$11.95K | USD | 1 Quarter |
| Total other (expense) income |
NonoperatingIncomeExpense
|
$-398.35K | USD | 1 Quarter |
| Loss before income taxes provision |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-2.11M | USD | 1 Quarter |
| Loss before income taxes provision |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-2.99M | USD | 1 Quarter |
| Provision (benefit from) for income taxes |
IncomeTaxExpenseBenefit
|
$715.00 | USD | 1 Quarter |
| Provision (benefit from) for income taxes |
IncomeTaxExpenseBenefit
|
- | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-2.11M | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-2.99M | USD | 1 Quarter |
| Preferred stock dividend |
PreferredStockDividend
|
$67.50K | USD | 1 Quarter |
| Preferred stock dividend |
PreferredStockDividend
|
- | USD | 1 Quarter |
| Net loss attributable to common shareholder |
NetIncomeLossAvailableToCommonStockholdersBasic
|
$-2.18M | USD | 1 Quarter |
| Net loss attributable to common shareholder |
NetIncomeLossAvailableToCommonStockholdersBasic
|
$-2.99M | USD | 1 Quarter |
Cash Flow Statement
70 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
ProfitLoss
|
$-2.99M | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-2.11M | USD | 1 Quarter |
| Stock based compensation |
AllocatedShareBasedCompensationExpense
|
- | USD | 1 Quarter |
| Stock based compensation |
AllocatedShareBasedCompensationExpense
|
$62.00K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAmortizationAndAccretionNet
|
$196.77K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAmortizationAndAccretionNet
|
$116.00 | USD | 1 Quarter |
| Amortization of debt discount |
AmortizationOfDebtDiscountPremium
|
$111.24K | USD | 1 Quarter |
| Amortization of debt discount |
AmortizationOfDebtDiscountPremium
|
- | USD | 1 Quarter |
| Loss on extinguishment of debt |
ExtinguishmentOfDebtAmount
|
- | USD | 1 Quarter |
| Loss on extinguishment of debt |
ExtinguishmentOfDebtAmount
|
$98.43K | USD | 1 Quarter |
| Stock option expense |
StockOptionPlanExpense
|
$1.44M | USD | 1 Quarter |
| Stock option expense |
StockOptionPlanExpense
|
$309.96K | USD | 1 Quarter |
| ROU operating lease expense |
RouOperatingLeaseExpense
|
$48.83K | USD | 1 Quarter |
| ROU operating lease expense |
RouOperatingLeaseExpense
|
$46.95K | USD | 1 Quarter |
| Write-off inventory |
ProductionRelatedImpairmentsOrCharges
|
- | USD | 1 Quarter |
| Write-off inventory |
ProductionRelatedImpairmentsOrCharges
|
$319.00 | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-1.13M | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-56.31K | USD | 1 Quarter |
| Other receivable related party |
IncreaseDecreaseInOtherReceivables
|
- | USD | 1 Quarter |
| Other receivable related party |
IncreaseDecreaseInOtherReceivables
|
$-194.59K | USD | 1 Quarter |
| Prepaid expenses |
IncreaseDecreaseInPrepaidExpense
|
$-109.79K | USD | 1 Quarter |
| Prepaid expenses |
IncreaseDecreaseInPrepaidExpense
|
$-61.64K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$2.52M | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$-2.01M | USD | 1 Quarter |
| Inventory deposit related party |
IncreaseDecreaseInInventoryDepositRelatedParty
|
$-273.06K | USD | 1 Quarter |
| Inventory deposit related party |
IncreaseDecreaseInInventoryDepositRelatedParty
|
- | USD | 1 Quarter |
| Income tax receivable |
IncreaseDecreaseInIncomeTaxesReceivable
|
$-1.61M | USD | 1 Quarter |
| Income tax receivable |
IncreaseDecreaseInIncomeTaxesReceivable
|
- | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountPayable
|
$41.24K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountPayable
|
$-69.74K | USD | 1 Quarter |
| Accounts payable related party |
IncreaseDecreaseInAccountsPayableRelatedParties
|
$-1.06M | USD | 1 Quarter |
| Accounts payable related party |
IncreaseDecreaseInAccountsPayableRelatedParties
|
$2.35M | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$-423.70K | USD | 1 Quarter |
| Accrued expenses |
IncreaseDecreaseInAccruedLiabilities
|
$-108.25K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$-105.57K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
- | USD | 1 Quarter |
| Customer deposits |
IncreaseDecreaseInContractWithCustomerLiability
|
$50.00K | USD | 1 Quarter |
| Customer deposits |
IncreaseDecreaseInContractWithCustomerLiability
|
$-32.88K | USD | 1 Quarter |
| Customer refund due |
IncreaseDecreaseInCustomerRefundDue
|
$162.86K | USD | 1 Quarter |
| Customer refund due |
IncreaseDecreaseInCustomerRefundDue
|
$-366.96K | USD | 1 Quarter |
| Right of use liabilities operating lease |
IncreaseDecreaseInOperatingLeaseLiability
|
$-44.34K | USD | 1 Quarter |
| Right of use liabilities operating lease |
IncreaseDecreaseInOperatingLeaseLiability
|
$-39.79K | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$91.22K | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$244.89K | USD | 1 Quarter |
| Cash paid for equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
- | USD | 1 Quarter |
| Cash paid for equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$3.48K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
- | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-3.48K | USD | 1 Quarter |
| Proceeds from loan payables |
ProceedsFromConstructionLoansPayable
|
$1.11M | USD | 1 Quarter |
| Proceeds from loan payables |
ProceedsFromConstructionLoansPayable
|
- | USD | 1 Quarter |
| Payments on loan payables |
PaymentsForProceedsFromLoansPayable
|
- | USD | 1 Quarter |
| Payments on loan payables |
PaymentsForProceedsFromLoansPayable
|
$1.29M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-187.25K | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
- | USD | 1 Quarter |
| Net change in cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
$87.73K | USD | 1 Quarter |
| Net change in cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
$57.63K | USD | 1 Quarter |
| Beginning cash balance |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$591.29K | USD | Point-in-time |
| Beginning cash balance |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$533.66K | USD | Point-in-time |
| Beginning cash balance |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$3.77M | USD | Point-in-time |
| Beginning cash balance |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$3.69M | USD | Point-in-time |
| Ending cash balance |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$591.29K | USD | Point-in-time |
| Ending cash balance |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$533.66K | USD | Point-in-time |
| Ending cash balance |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$3.77M | USD | Point-in-time |
| Ending cash balance |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$3.69M | USD | Point-in-time |
| Interest paid |
InterestPaidNet
|
$111.24K | USD | 1 Quarter |
| Interest paid |
InterestPaidNet
|
- | USD | 1 Quarter |
| Income taxes paid |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
| Income taxes paid |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
| Preferred stock dividend |
PreferredStockDividendsIncomeStatementImpact
|
$67.50K | USD | 1 Quarter |
| Preferred stock dividend |
PreferredStockDividendsIncomeStatementImpact
|
- | USD | 1 Quarter |
Stockholders Equity
15 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Beginning balance, value |
StockholdersEquity
|
$13.56M | USD | Point-in-time |
| Beginning balance, value |
StockholdersEquity
|
$8.24M | USD | Point-in-time |
| Beginning balance, value |
StockholdersEquity
|
$11.75M | USD | Point-in-time |
| Beginning balance, value |
StockholdersEquity
|
$9.80M | USD | Point-in-time |
| Rounding from reverse split |
StockIssuedDuringPeriodValueReverseStockSplits
|
- | USD | 1 Quarter |
| Common shares issued for services |
StockIssuedDuringPeriodValueIssuedForServices
|
$62.00K | USD | 1 Quarter |
| Preferred stock dividend |
PreferredStockDividendsIncomeStatementsImpact
|
$67.50K | USD | 1 Quarter |
| Stock option expense |
StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense
|
$1.44M | USD | 1 Quarter |
| Stock option expense |
StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense
|
$309.96K | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-2.11M | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-2.99M | USD | 1 Quarter |
| Ending balance, value |
StockholdersEquity
|
$13.56M | USD | Point-in-time |
| Ending balance, value |
StockholdersEquity
|
$8.24M | USD | Point-in-time |
| Ending balance, value |
StockholdersEquity
|
$11.75M | USD | Point-in-time |
| Ending balance, value |
StockholdersEquity
|
$9.80M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.