NutriBand Inc. Files Q3 2024 10-Q Report

TL;DR

NutriBand filed its 10-Q for Q3 2024. Check financials.

AI Summary

NutriBand Inc. filed its quarterly report on Form 10-Q for the period ended July 31, 2024. The company, incorporated in Nevada, is involved in the orthopedic, prosthetic & surgical appliances & supplies industry. Its principal executive offices are located in Orlando, Florida.

Why It Matters

This filing provides investors with an update on NutriBand Inc.'s financial performance and business operations for the third quarter of fiscal year 2024.

Risk Assessment

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

Key Players & Entities

• NutriBand Inc. (company) — Registrant
• 0001213900-24-075159 (other) — Accession Number
• 20240731 (date) — Quarterly period ended
• 20240903 (date) — Filing date
• 3842 (other) — Standard Industrial Classification Code
• NV (other) — State of Incorporation
• 0131 (date) — Fiscal year end
• 001-40854 (other) — SEC File Number
• 121 South Orange Ave. Suite 1500 Orlando FL 32801 (address) — Principal Executive Offices
• 407 377-6695 (phone) — Business Phone

FAQ

Key Financial Figures

• $0.001 — of the issuer's common stock, par value $0.001 per share, was 11,096,185 shares as of

Filing Documents

• ea0213099-10q_nutriband.htm (10-Q) — 1169KB
• ea021309901ex31-1_nutriband.htm (EX-31.1) — 10KB
• ea021309901ex31-2_nutriband.htm (EX-31.2) — 10KB
• ea021309901ex32-1_nutriband.htm (EX-32.1) — 4KB
• ea021309901ex32-2_nutriband.htm (EX-32.2) — 3KB
• 0001213900-24-075159.txt ( ) — 6651KB
• ntrb-20240731.xsd (EX-101.SCH) — 53KB
• ntrb-20240731_cal.xml (EX-101.CAL) — 32KB
• ntrb-20240731_def.xml (EX-101.DEF) — 294KB
• ntrb-20240731_lab.xml (EX-101.LAB) — 533KB
• ntrb-20240731_pre.xml (EX-101.PRE) — 304KB
• ea0213099-10q_nutriband_htm.xml (XML) — 1054KB

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of July 31, 2024 (unaudited) and January 31, 2024. 2 Condensed Consolidated Statements of Operations for the three and six months ended July 31, 2024 (unaudited), 3 Consolidated 4 Condensed Consolidated Statements of Cash Flows for the t hree and six months ended July 31, 2024, and 2023 (unaudited) 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3

Quantitative and Qualitative Disclosures

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4

Controls and Procedures

Controls and Procedures 31 Part II: Other Information 32 Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A

Risk Factors

Risk Factors 32 Item 6 Exhibits 35 i NUTRIBAND INC. PART I. FINANCIAL INFORMATION 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 statements pursuant to the rules and regulations of the Securities and Exchange Commission. The results of operations for the three and six months ended July 31, 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 July 31, January 31, 2024 2024 (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 6,759,967 $ 492,942 Accounts receivable 68,011 148,649 Inventory 223,860 168,605 Prepaid expenses 196,235 211,667 Total Current Assets 7,248,073 1,021,863 PROPERTY & EQUIPMENT-net 737,534 774,924 OTHER ASSETS: Goodwill 5,021,713 5,021,713 Operating lease right of use asset 15,684 31,374 Intangible assets-net 610,705 667,280 TOTAL ASSETS $ 13,633,709 $ 7,517,154 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 778,827 $ 680,132 Deferred revenue 179,576 157,502 Operating lease liability-current portion 17,528 34,276 Notes payable-current portion 127,659 127,183 Total Current Liabilities 1,103,590 999,093 LONG-TERM LIABILITIES: Note payable-net of current portion 69,133 79,826 Total Liabilities 1,172,723 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; 11,106,185 and 8,869,870 shares issued at July 31, 2024 and January 31,2024, respectively, 11,096,105 and 8,859,870 shares outstanding as of July 31, 2024 and

Financial Statements

Financial Statements The consolidated balance sheet as of July 31, 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 six months ended July 31, 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 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 six months ended July 31, 2024. Going Concern Assessment Management assesses liquidity and going concern uncertainty in the Company's condensed financial statements to determine whether there is sufficient cash on hand and working capital, includ

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View this 10-Q filing on SEC EDGAR