Pharma-Bio Serv, Inc. Files Q2 2024 10-Q

TL;DR

**Pharma-Bio Serv, Inc. (PBSV) filed its Q2 2024 10-Q. Based in PR, fiscal year ends Oct 31.**

AI Summary

Pharma-Bio Serv, Inc. filed its 10-Q for the period ending April 30, 2024. The company, formerly known as LAWRENCE CONSULTING GROUP INC, is based in Dorado, PR. Its fiscal year ends on October 31st.

Why It Matters

This filing provides investors with an update on Pharma-Bio Serv, Inc.'s financial performance and operational status for the second quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative disclosures.

Key Numbers

• 1031 — Fiscal Year End (Indicates when the company's financial year concludes.)
• 20240430 — Reporting Period End Date (Marks the end of the financial quarter being reported.)

Key Players & Entities

• Pharma-Bio Serv, Inc. (company) — Filer of the 10-Q
• LAWRENCE CONSULTING GROUP INC (company) — Former name of Pharma-Bio Serv, Inc.
• 20240430 (date) — End of the reporting period
• 20240614 (date) — Filing date
• 787-278-2709 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $0.075 — 13,276 - 13,276 CASH DIVIDEND ($0.075 PER COMMON SHARE AT RECORD DATE) - -

Filing Documents

• pbsv_10q.htm (10-Q) — 889KB
• pbsv_ex311.htm (EX-31.1) — 11KB
• pbsv_ex312.htm (EX-31.2) — 10KB
• pbsv_ex321.htm (EX-32.1) — 3KB
• 0001654954-24-007794.txt ( ) — 2881KB
• pbsv-20240430.xsd (EX-101.SCH) — 22KB
• pbsv-20240430_lab.xml (EX-101.LAB) — 147KB
• pbsv-20240430_cal.xml (EX-101.CAL) — 33KB
• pbsv-20240430_pre.xml (EX-101.PRE) — 115KB
• pbsv-20240430_def.xml (EX-101.DEF) — 41KB
• pbsv_10q_htm.xml (XML) — 364KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 3

– Financial Statements

Item 1 – Financial Statements 3 Condensed Consolidated Balance Sheets as of April 30, 2024 and October 31, 2023 (unaudited) 3 Condensed Consolidated Statements of Operations for the three-month and six-month periods ended April 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three-month and six-month periods ended April 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three-month and six-month periods ended April 30, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the three-month and six-month periods ended April 30, 2024 and 2023 (unaudited) 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9

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

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 15

– Controls and Procedures

Item 4 – Controls and Procedures 18

OTHER INFORMATION

PART II OTHER INFORMATION

– Legal Proceedings

Item 1 – Legal Proceedings 19

– Risk Factors

Item 1A – Risk Factors 19

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 19

– Exhibits

Item 6 – Exhibits 20

SIGNATURES

SIGNATURES 21 -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 April 30, 2024* October 31, 2023** Current assets Cash and cash equivalents $ 3,509,409 $ 10,446,054 Marketable securities 9,960,772 4,531,164 Accounts receivable 2,614,817 3,940,845 Prepaids and other assets 428,117 483,034 Total current assets 16,513,115 19,401,097 Property and equipment, net 20,875 32,849 Operating lease right-of-use 278,989 356,450 Other assets 111,674 111,665 Total assets $ 16,924,653 $ 19,902,061 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Current operating lease liabilities $ 158,693 $ 152,474 Accounts payable and accrued expenses 1,128,731 1,467,425 Current portion of US Tax Reform Transition Tax and income taxes payable 909,909 533,782 Total current liabilities 2,197,333 2,153,681 US Tax Reform Transition Tax payable 660,903 1,427,560 Long-term operating lease liabilities 113,044 194,035 Total liabilities 2,971,280 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 22,960,643 and 22,963,451 shares outstanding at April 30, 2024 and October 31, 2023, respectively 2,352 2,351 Additional paid-in capital 1,626,522 1,596,922 Retained earnings 12,647,053 14,853,826 Accumulated other comprehensive income 223,542 210,266 14,499,469 16,663,365 Treasury stock, at cost; 559,029 and 549,429 common shares held at April 30, 2024 and October 31, 2023, respectively ( 546,096 ) ( 536,580 ) Total stockholders' equity 13,953,373 16,126,785 Total liabilities and stockholders' equity $ 16,924,653 $ 19,902,061 * Unaudited. ** Condensed from audited financial statements. See notes to the condensed consolidated financial statements.

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View this 10-Q filing on SEC EDGAR