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 October 31, 2024. The company, incorporated in Nevada, is involved in the orthopedic, prosthetic, and 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 operational status for the third quarter of 2024.

Risk Assessment

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

Key Players & Entities

• NutriBand Inc. (company) — Registrant
• October 31, 2024 (date) — Quarterly period end date
• 001-40854 (other) — Commission File Number
• NEVADA (other) — State of incorporation
• 81-1118176 (other) — IRS Employer Identification No.
• 121 South Orange Ave. , Suite 1500 , Orlando , FL 32801 (address) — Principal Executive Offices
• (407) 377-6695 (phone) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $0.001 — of the issuer's common stock, par value $0.001 per share, was 11,106,185 shares as of

Filing Documents

• ea0222960-10q_nutriband.htm (10-Q) — 843KB
• ea022296001ex31-1_nutriband.htm (EX-31.1) — 12KB
• ea022296001ex31-2_nutriband.htm (EX-31.2) — 12KB
• ea022296001ex32-1_nutriband.htm (EX-32.1) — 4KB
• ea022296001ex32-2_nutriband.htm (EX-32.2) — 4KB
• 0001213900-24-105201.txt ( ) — 5862KB
• ntrb-20241031.xsd (EX-101.SCH) — 47KB
• ntrb-20241031_cal.xml (EX-101.CAL) — 32KB
• ntrb-20241031_def.xml (EX-101.DEF) — 311KB
• ntrb-20241031_lab.xml (EX-101.LAB) — 522KB
• ntrb-20241031_pre.xml (EX-101.PRE) — 319KB
• ea0222960-10q_nutriband_htm.xml (XML) — 754KB

: Financial

Part I: Financial Information 1 Item 1

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of October 31, 2024 (unaudited) and January 31, 2024. 2 Condensed Consolidated Statements of Operations for the three and nine months ended October 31, 2024 and 2023(unaudited), 3 Consolidated 4 Condensed Consolidated Statements of Cash Flows for the three and nine months ended October 31, 2024, and 2023 (unaudited) 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2

Management's Discussion and Analysis of Financial

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3

Quantitative and Qualitative Disclosures about Market

Quantitative and Qualitative Disclosures about Market Risk 34 Item 4

Controls and Procedures

Controls and Procedures 34 Part II: Other Information 35 Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A

Risk Factors

Risk Factors 35 Item 6 Exhibits 39 i NUTRIBAND INC.

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 and nine months ended October 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 October 31, January 31, 2024 2024 ASSETS (Unaudited) CURRENT ASSETS: Cash and cash equivalents $ 5,698,187 $ 492,942 Accounts receivable 109,630 148,649 Inventory 168,299 168,605 Prepaid expenses 215,486 211,667 Total Current Assets 6,191,602 1,021,863 PROPERTY & EQUIPMENT-net 739,630 774,924 OTHER ASSETS: Goodwill 5,021,713 5,021,713 Operating lease right of use asset 7,839 31,374 Intangible assets-net 582,418 667,280 TOTAL ASSETS $ 12,543,202 $ 7,517,154 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 892,154 $ 680,132 Deferred revenue 218,868 157,502 Operating lease liability-current portion 8,864 34,276 Notes payable-current portion 127,900 127,183 Total Current Liabilities 1,247,786 999,093 LONG-TERM LIABILITIES: Note payable-net of current portion 63,717 79,826 Total Liabilities 1,311,503 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 October 31, 2024 and January 31,2024, respectively, 11,106,105 and 8,859,870 shares outstanding as of October 31, 2024 and January 31, 2024, resectively 11,106 8,860 Additional paid-in-capital 44,167,095 3

Financial Statements

Financial Statements The consolidated balance sheet as of October 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 nine months ended October 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. 7 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 nine months ended October 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 capi

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