NutriBand Inc. Files Q1 2024 10-Q Report

TL;DR

NutriBand filed its 10-Q for Q1 2024. Check financials.

AI Summary

NutriBand Inc. filed its quarterly report on Form 10-Q for the period ended April 30, 2024. The company, incorporated in Nevada and operating in the orthopedic, prosthetic & surgical appliances & supplies sector, is headquartered in Orlando, Florida. The filing details its financial performance and business operations for the specified quarter.

Why It Matters

This report provides investors with an update on NutriBand's financial health and operational progress during the first quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and business updates.

Key Players & Entities

• NutriBand Inc. (company) — Registrant
• 0001213900-24-048363 (other) — Accession Number
• April 30, 2024 (date) — Quarterly period end date
• 3842 (other) — Standard Industrial Classification Code
• NV (other) — State of Incorporation
• 121 S. Orange Ave. Suite 1500 Orlando, FL 32801 (address) — Principal Executive Offices
• 407 377-6695 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $0.001 — of the issuer's common stock, par value $0.001 per share, was 11,036,100 shares as of

Filing Documents

• ea0206964-10q_nutriband.htm (10-Q) — 664KB
• ea020696401ex31-1_nutriband.htm (EX-31.1) — 10KB
• ea020696401ex31-2_nutriband.htm (EX-31.2) — 10KB
• ea020696401ex32-1_nutriband.htm (EX-32.1) — 3KB
• ea020696401ex32-2_nutriband.htm (EX-32.2) — 3KB
• 0001213900-24-048363.txt ( ) — 5394KB
• ntrb-20240430.xsd (EX-101.SCH) — 65KB
• ntrb-20240430_cal.xml (EX-101.CAL) — 30KB
• ntrb-20240430_def.xml (EX-101.DEF) — 309KB
• ntrb-20240430_lab.xml (EX-101.LAB) — 576KB
• ntrb-20240430_pre.xml (EX-101.PRE) — 318KB
• ea0206964-10q_nutriband_htm.xml (XML) — 609KB

: Financial Information

Part I: Financial Information 1 Item 1

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of April 30, 2024 (unaudited) and January 31, 2024 2 Condensed Consolidated Statements of Operations for the three months ended April 30, 2024, and 2023 (unaudited) 3 Consolidated Statements of Stockholders' Equity for the three months ended April 30, 2024, and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the nine months ended April 30, 2024, and 2023 (unaudited) 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4

Controls and Procedures

Controls and Procedures 31

: Other Information

Part II: Other Information 32 Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A

Risk Factors

Risk Factors 32 Item 6 Exhibits 34 i

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Certain information and footnote disclosures required under accounting principles generally accepted in the United States of America have been condensed or omitted from the following financial The results of operations for the three months ended April 30, 2024, and 2023 are not necessarily indicative of the results for the entire fiscal year or for any other period. 1 NUTRIBAND INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS April 30, January 31, 2024 2024 (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 8,347,740 $ 492,942 Accounts receivable 85,144 148,649 Inventory 168,505 168,605 Prepaid expenses 128,551 211,667 Total Current Assets 8,729,940 1,021,863 PROPERTY & EQUIPMENT-net 740,305 774,924 OTHER ASSETS: Goodwill 5,021,713 5,021,713 Operating lease right of use asset 23,529 31,374 Intangible assets-net 638,993 667,280 TOTAL ASSETS $ 15,154,480 $ 7,517,154 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 994,106 $ 680,132 Deferred revenue 269,345 157,502 Operating lease liability-current portion 25,988 34,276 Notes payable-current portion 127,419 127,183 Total Current Liabilities 1,416,858 999,093 LONG-TERM LIABILITIES: Note payable-net of current portion 74,509 79,826 Note payable-related party 300,000 - Total Liabilities 1,791,367 1,078,919 Commitments and Contingencies - - STOCKHOLDERS' EQUITY: Preferred stock, $ .001 par value, 10,000,000 shares authorized, - 0 - outstanding - - Common stock, $ .001 par value, 291,666,666 shares authorized; 10,969,870 and 8,869,870 shares issued at April 30, 2024 and January 31,2024, respectively, 10,959,870 and 8,859,870 shares outstanding as of April 30, 2024 and January 31, 2024, respectively 10,960 8,860 Additional pai

Financial Statements

Financial Statements The consolidated balance sheet as of April 30, 2024, and the consolidated statements of operations, stockholders' equity, and cash flows for the periods presented have been prepared by the Company and are unaudited. In the opinion of management, all adjustments (consisting solely of normal recurring adjustments) necessary to prepare fairly the financial position, results of operations, changes in stockholders' equity and cash flows for all periods presented have been made. The results for the three months ended April 30, 2024, are not necessarily indicative of the results to be expected for the full year. The consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in Nutriband's Annual Report on Form 10-K for the year ended January 31, 2024. Certain information and footnote disclosures required under generally accepted accounting principles in the United States of America (U.S. GAAP") have been condensed or omitted from these consolidated financial statements pursuant to the rules and regulations, including interim reporting requirements of the U.S. Securities and Exchange Commission ("SEC"). The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosures of contingent amounts in our consolidated financial statements and accompanying footnotes. Actual results could differ from estimates. The Company's significant accounting policies in Note 2 in the Company's Annual Report on Form 10-K for the year ended January 31, 2024. There were no significant changes to these accounting policies during the three months ended April 30, 2024. Forward Stock Split On July 26, 2022, our Board of Directors approved the amendment to our Articles of Incorporation to effect a 7- for- 6 forward stock split (the "Stock Split") of our outstanding common stock

View Full Filing

View this 10-Q filing on SEC EDGAR