Johnsafe
1月前
The Registrant is unable to file, without unreasonable effort and expense, its Annual Report on Form 10-K for the year ended October 31, 2024. Due to sudden demise of the Registrant’s Chief Executive Officer on September 7, 2024 and appointment of an interim Chief Executive Officer, as well as other management changes in the year ended October 31, 2024, the Registrant is still compiling information for the Form 10-K. The Company is working diligently to complete its Form 10-K for such period as soon as possible and currently expects to file the Form 10-K within the fifteenth day extension period provided under Rule 12b-25 of the Securities Exchange Act of 1934, as amended.
Revenues for fiscal year ended 2024 were approximately $6.9 million, compared to approximately $13.1 million in fiscal year ended 2023. Revenues decreased in fiscal year ended 2024, primarily due to sales pressure related to the MDO received in January 2024, which resulted to decrease in the number of sticks sold to customers. Gross profit in fiscal year ended 2024 was approximately $2.6 million, compared to approximately $2.6 million for fiscal year ended 2023. Total cost of revenue was approximately $4.3 million for fiscal year ended 2024, compared to approximately $10.5 million for fiscal year ended 2023. The slight increase in gross profit volume is primarily driven by the decrease in cost of revenue.
boston127
6月前
Should we be concerned about this?
ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Kaival Brands Innovations Group, Inc.
NEW YORK, Sept. 23, 2024 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) and its board of directors concerning the proposed acquisition of the company by Delta Corp Holdings Limited. Stockholders are expected to own approximately 10.30% of the combined company. The transaction is expected to close in the fourth quarter of 2024.
If you are a stockholder of Kaival Brands Innovations Group, Inc. and are interested in obtaining additional information regarding this investigation, please visit us at: http://www.rowleylawpllc.com/investigation/kavl/. You may also contact Shane Rowley, Esq. at Rowley Law PLLC, 50 Main Street Suite 1000, White Plains, NY 10606, by email at info @weststar-1920 or 844-400-4643 (toll-free).