Pharma-Bio Serv, Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Pharma-Bio Serv, Inc. has filed its quarterly report (10-Q) for the period ending January 31, 2024.</b>

AI Summary

Pharma-Bio Serv, Inc. (PBSV) filed a Quarterly Report (10-Q) with the SEC on March 18, 2024. Pharma-Bio Serv, Inc. filed a 10-Q report for the quarter ended January 31, 2024. The filing covers the period from November 1, 2023, to January 31, 2024. The company's fiscal year ends on October 31. Pharma-Bio Serv, Inc. is classified under SERVICES-MANAGEMENT CONSULTING SERVICES (SIC 8742). The company's business and mailing address is located in Dorado, Puerto Rico.

Why It Matters

For investors and stakeholders tracking Pharma-Bio Serv, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status for the first quarter of its fiscal year. Understanding the details within this 10-Q is crucial for assessing the company's current financial health and future prospects in the management consulting sector.

Risk Assessment

Risk Level: low — Pharma-Bio Serv, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative disclosures, indicating a low level of immediate risk.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to identify any trends or significant changes in revenue or expenses.

Key Numbers

• 2024-01-31 — Quarter End Date (Conformed Period of Report)
• 2024-03-18 — Filing Date (Filed As Of Date)
• 8742 — SIC Code (Standard Industrial Classification)
• 1031 — Fiscal Year End (Company fiscal year end)

Key Players & Entities

• Pharma-Bio Serv, Inc. (company) — Filer name
• 2024-01-31 (date) — Conformed period of report
• 2024-03-18 (date) — Filed as of date
• 8742 (industry_code) — Standard Industrial Classification
• DORADO (location) — Business address city
• PR (location) — Business address state
• LAWRENCE CONSULTING GROUP INC (company) — Former company name
• 2004-09-23 (date) — Date of name change

FAQ

Key Dates

• 2024-01-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-03-18: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with an update on the company's financial performance and operational status for the quarter.)

SIC Code

Standard Industrial Classification code used to classify business establishments. (Helps categorize Pharma-Bio Serv, Inc. within the management consulting services industry.)

Key Financial Figures

• $0.075 — 14,940 - 14,940 CASH DIVIDEND ($0.075 PER COMMON SHARE AT RECORD DATE) - -

Filing Documents

• pbsv_10q.htm (10-Q) — 553KB
• pbsv_ex311.htm (EX-31.1) — 11KB
• pbsv_ex312.htm (EX-31.2) — 11KB
• pbsv_ex321.htm (EX-32.1) — 5KB
• 0001654954-24-003314.txt (&nbsp;) — 2321KB
• pbsv-20240131.xsd (EX-101.SCH) — 22KB
• pbsv-20240131_lab.xml (EX-101.LAB) — 145KB
• pbsv-20240131_cal.xml (EX-101.CAL) — 33KB
• pbsv-20240131_pre.xml (EX-101.PRE) — 111KB
• pbsv-20240131_def.xml (EX-101.DEF) — 40KB
• pbsv_10q_htm.xml (XML) — 234KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item 1 –

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of January 31, 2024 and October 31, 2023 (unaudited) 3 Condensed Consolidated Statements of Operations for the three-month periods ended January 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three-month periods ended January 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three-month periods ended January 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the three-month periods ended January 31, 2024 and 2023 (unaudited) 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8 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 14 Item 4 –

Controls and Procedures

Controls and Procedures 17

OTHER INFORMATION

PART II OTHER INFORMATION Item 1 –

Legal Proceedings

Legal Proceedings 18 Item 1A –

Risk Factors

Risk Factors 18 Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 5 – Other information Item 6 – Exhibits 19

SIGNATURES

SIGNATURES 20 -2- Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS PHARMA-BIO SERV, INC. Condensed Consolidated Balance Sheets (Unaudited) ASSETS January 31, 2024* October 31, 2023** Current assets Cash and cash equivalents $ 6,413,550 $ 10,446,054 Marketable securities 9,475,958 4,531,164 Accounts receivable 2,407,580 3,940,845 Prepaids and other assets 477,925 483,034 Total current assets 18,775,013 19,401,097 Property and equipment 26,383 32,849 Operating lease right-of-use 318,159 356,450 Other assets 111,691 111,665 Total assets $ 19,231,246 $ 19,902,061 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Current operating lease liabilities $ 155,570 $ 152,474 Accounts payable and accrued expenses 1,062,560 1,467,425 Dividend payable to shareholders 1,722,236 - Current portion of US Tax Reform Transition Tax and income taxes payable 738,003 533,782 Total current liabilities 3,678,369 2,153,681 US Tax Reform Transition Tax payable 1,242,507 1,427,560 Long term operating lease liabilities 153,993 194,035 Total liabilities 5,074,869 3,775,276 Stockholders' equity Preferred Stock, $ 0.0001 par value; authorized 10,000,000 shares; none outstanding - - Common Stock, $ 0.0001 par value; authorized 50,000,000 shares; 23,519,672 and 23,512,880 shares issued, and 22,963,143 and 22,963,451 shares outstanding at January 31, 2024 and October 31, 2023, respectively 2,352 2,351 Additional paid-in capital 1,611,722 1,596,922 Retained earnings 12,860,870 14,853,826 Accumulated other comprehensive income 225,206 210,266 14,700,150 16,663,365 Treasury stock, at cost; 556,529 and 549,429 common shares held at January 31, 2024 and October 31, 2023, respectively ( 543,773 ) ( 536,580 ) Total stockholders' equity 14,156,377 16,126,785 Total liabilities and stockholders' equity $ 19,231,246 $ 19,902,061 * Unaudited. ** Condensed from audited financial statements. See no

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View this 10-Q filing on SEC EDGAR