Pharma-Bio Serv, Inc. Files 2024 10-K

TL;DR

Pharma-Bio Serv filed its 2024 10-K. All good.

AI Summary

Pharma-Bio Serv, Inc. filed its 10-K for the fiscal year ending October 31, 2024, reporting on its management consulting services. The company, formerly known as LAWRENCE CONSULTING GROUP INC, is based in Dorado, Puerto Rico. The filing covers the period from November 1, 2023, to October 31, 2024, and includes financial data and business operations details.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Pharma-Bio Serv, Inc.'s financial performance and business activities for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance details or forward-looking statements that would indicate significant risk.

Key Numbers

• 10-K — Filing Type (Annual Report)
• FY 2024 — Fiscal Year (Reporting Period)

Key Players & Entities

• Pharma-Bio Serv, Inc. (company) — Filer
• LAWRENCE CONSULTING GROUP INC (company) — Former Company Name
• Dorado, Puerto Rico (location) — Business and Mail Address
• 787-278-2709 (phone_number) — Business Phone
• 2024-10-31 (date) — Fiscal Year End
• 2025-01-29 (date) — Filing Date

FAQ

Key Financial Figures

• $0.0001 — (g) of the Act: Common Stock, par value $0.0001 per share Indicate by check mark if th

Filing Documents

• pbsv_10k.htm (10-K) — 913KB
• pbsv_ex211.htm (EX-21.1) — 5KB
• pbsv_ex231.htm (EX-23.1) — 2KB
• pbsv_ex311.htm (EX-31.1) — 12KB
• pbsv_ex312.htm (EX-31.2) — 12KB
• pbsv_ex321.htm (EX-32.1) — 6KB
• 0001654954-25-000915.txt ( ) — 3925KB
• pbsv-20241031.xsd (EX-101.SCH) — 36KB
• pbsv-20241031_lab.xml (EX-101.LAB) — 238KB
• pbsv-20241031_cal.xml (EX-101.CAL) — 40KB
• pbsv-20241031_pre.xml (EX-101.PRE) — 194KB
• pbsv-20241031_def.xml (EX-101.DEF) — 94KB
• pbsv_10k_htm.xml (XML) — 465KB

BUSINESS

BUSINESS 1 ITEM 1A

RISK FACTORS

RISK FACTORS 4 ITEM 1B UNRESOLVED STAFF COMMENTS 10 ITEM 1C CYBERSECURITY 10 ITEM 2

PROPERTIES

PROPERTIES 11 ITEM 3

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 11 ITEM 4 MINE SAFETY DISCLOSURES 11 PART II ITEM 5 MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 12 ITEM 6 [RESERVED] 12 ITEM 7

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 13 ITEM 7A

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 17 ITEM 8

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (See page F-1)

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (See page F-1) 18 ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 18 ITEM 9A

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 18 ITEM 9B OTHER INFORMATION 18 ITEM 9C DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 18 PART III ITEM 10 DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 19 ITEM 11

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 19 ITEM 12

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 19 ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 19 ITEM 14 PRINCIPAL ACCOUNTING FEES AND SERVICES 19 PART IV ITEM 15 EXHIBITS, FINANCIAL STATEMENT SCHEDULES 20 ITEM 16 FORM 10-K SUMMARY 20

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA F-1 PART I

BUSINESS

ITEM 1. BUSINESS. GENERAL Pharma-Bio Serv, Inc. ("Pharma-Bio" or the "Company") is a Delaware corporation organized on January 14, 2004. The Company operates in Puerto Rico, the United States, Europe and Brazil under the name of Pharma-Bio Serv, and is engaged in providing technical compliance consulting services to the pharmaceutical, chemical, biotechnology, medical devices, cosmetic and food industries, and allied products companies. Our executive offices are located at Pharma-Bio Serv Building, #6 Road 696, Dorado, Puerto Rico 00646. Our telephone number is (787) 278-2709. The financial information about our reporting segments appear in Note J to our Consolidated Financial Statements included in this Annual Report on Form 10-K. Our website is www.pbsvinc.com. Information on our website or any other website is not part of this Annual Report on Form 10-K. References to "we," "us," "our" and similar words in this Annual Report on Form 10-K refer to Pharma-Bio Serv, Inc. and its subsidiaries. OVERVIEW We are a regulatory affairs, quality, compliance and technology transfer services consulting firm with headquarters in Puerto Rico, servicing the Puerto Rico, United States and European markets, and to a lesser extent the Brazilian market. The compliance consulting service sector in those markets consists of local compliance and validation consulting firms, United States dedicated validation and compliance consulting firms, and large publicly traded and private domestic and foreign engineering and consulting firms. We provide a broad range of compliance-related consulting services. We market our services to pharmaceutical, chemical, biotechnology, medical devices, cosmetic and food industries, and allied products companies principally in Puerto Rico, the United States, Europe and Brazil. Our consulting team includes experienced engineering and life science professionals, former quality assurance managers and directors, former health agencies officials, and pr

RISK FACTORS

ITEM 1A. RISK FACTORS. This Annual Report on Form 10-K includes "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including certain statements about our plans, strategies and prospects. Although we believe that our plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that such plans, intentions or expectations will be achieved. Important factors that could cause our actual results to differ materially from our forward-looking statements include those set forth in this Risk Factors section. If any of the following risks, or other risks not presently known to us or that we currently believe to not be significant, develop into actual events, then our business, financial condition, results of operations, cash flows or prospects could be materially adversely affected. Operational Risks Because our business is concentrated in the life science and medical devices industries in Puerto Rico, the United States and Europe, any changes in those industries or in those markets could impair our ability to generate revenue and realize a profit. Since most of our business is performed in Puerto Rico, the United States and Europe, for pharmaceutical, biotechnology, medical device and chemical manufacturing companies, our ability to generate revenue and realize a profit could be impaired by factors impacting those markets. For example, changes in tax laws or regulatory, political or economic conditions, exposure to foreign exchange variations, high inflation levels or interest rates, which discourage businesses from operating in the markets we serve, which affect the need for services such as those provided by us, could impair our ability to generate revenue and realize a profit. 4 Table of Contents Companies in the pharmaceutical and related industries for which we perform services are subject to economic pressures, which affect

View Full Filing

View this 10-K filing on SEC EDGAR