Enveric Biosciences Files Q3 2024 10-Q Report

TL;DR

Enveric Biosciences (ENVB) dropped its Q3 10-Q. Check financials.

AI Summary

Enveric Biosciences, Inc. filed its Q3 10-Q report for the period ending September 30, 2024. The company, formerly known as AMERI Holdings, Inc. and SPATIALIZER AUDIO LABORATORIES INC, is based in Naples, Florida. The filing details financial performance and operational updates for the third quarter of 2024.

Why It Matters

This filing provides investors with an update on Enveric Biosciences' financial health and operational progress during the third quarter of 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Enveric Biosciences faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-11-14 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Enveric Biosciences, Inc. (company) — Filer of the 10-Q report
• AMERI Holdings, Inc. (company) — Former company name
• SPATIALIZER AUDIO LABORATORIES INC (company) — Former company name
• 20240930 (date) — End of the reporting period
• 20241114 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share ENVB The Nasdaq

Filing Documents

• form10-q.htm (10-Q) — 929KB
• ex10-1.htm (EX-10.1) — 303KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 11KB
• ex10-1_001.jpg (GRAPHIC) — 37KB
• ex10-1_002.jpg (GRAPHIC) — 72KB
• 0001493152-24-045859.txt ( ) — 5172KB
• envb-20240930.xsd (EX-101.SCH) — 41KB
• envb-20240930_cal.xml (EX-101.CAL) — 52KB
• envb-20240930_def.xml (EX-101.DEF) — 132KB
• envb-20240930_lab.xml (EX-101.LAB) — 340KB
• envb-20240930_pre.xml (EX-101.PRE) — 249KB
• form10-q_htm.xml (XML) — 654KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 30

Signatures

Signatures 31 ENVERIC BIOSCIENCES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 (unaudited) ASSETS Current assets: Cash $ 3,111,683 $ 2,287,977 Prepaid expenses and other current assets 1,226,576 1,293,554 Total current assets 4,338,259 3,581,531 Other assets: Property and equipment, net 367,689 507,377 Intangible assets, net 84,368 210,932 Total other assets 452,057 718,309 Total assets $ 4,790,316 $ 4,299,840 LIABILITIES, MEZZANINE EQUITY, AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 576,324 $ 1,218,783 Accrued liabilities 253,150 1,075,643 Investment option liability 4,944 23,608 Warrant liability 4,748 25,470 Total current liabilities 839,166 2,343,504 Commitments and contingencies (Note 9) - - Mezzanine equity Series C redeemable preferred stock, $ 0.01 par value, 100,000 shares authorized, and 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Total mezzanine equity — — Shareholders' equity Preferred stock, $ 0.01 par value, 20,000,000 shares authorized; Series B preferred stock, $ 0.01 par value, 3,600,000 shares authorized, 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value, 100,000,000 shares authorized, 8,994,920 and 2,739,315 shares issued and outstanding as of September 30, 2024 and December 31, 2023 89,949 27,392 Additional paid-in capital 107,316,058 100,815,851 Stock subscription receivable — ( 1,817,640 ) Accumulated deficit ( 102,919,859 ) ( 96,499,518 ) Accumulated other comprehensive loss ( 534,998 ) ( 569,749 ) Total shareholders' equity 3,951,150 1,956,336 Total liabilities, mezzanine equity, and shareholders' equity $ 4,790,316 $ 4,299,840 See the accompanying notes to the unaudited condensed consolidated financial statements. 2 ENVERIC BIOSCIENCES, INC. AND SU

View Full Filing

View this 10-Q filing on SEC EDGAR