Pharma-Bio Serv, Inc. Files Q3 2024 10-Q

TL;DR

Pharma-Bio Serv (PBSV) Q3 10-Q filed. Fiscal year ends Oct 31.

AI Summary

Pharma-Bio Serv, Inc. filed its 10-Q for the period ending July 31, 2024. The company, formerly known as Lawrence Consulting Group Inc., operates in management consulting services. 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 third quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediately apparent significant negative events.

Key Numbers

• 1031 — Fiscal Year End (Indicates when the company's financial year concludes.)
• 8742 — SIC Code (Standard Industrial Classification for Management Consulting Services.)

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.
• 787-278-2709 (phone_number) — Business phone number
• 20240731 (date) — End of the reporting period
• 20240916 (date) — Filing date

FAQ

Key Financial Figures

• $0.075 — 43,012 - 43,012 CASH DIVIDEND ($0.075 PER COMMON SHARE AT RECORD DATE) - -

Filing Documents

• pbsv_10q.htm (10-Q) — 873KB
• pbsv_ex311.htm (EX-31.1) — 12KB
• pbsv_ex312.htm (EX-31.2) — 12KB
• pbsv_ex321.htm (EX-32.1) — 4KB
• 0001654954-24-011967.txt ( ) — 2945KB
• pbsv-20240731.xsd (EX-101.SCH) — 22KB
• pbsv-20240731_lab.xml (EX-101.LAB) — 149KB
• pbsv-20240731_cal.xml (EX-101.CAL) — 33KB
• pbsv-20240731_pre.xml (EX-101.PRE) — 116KB
• pbsv-20240731_def.xml (EX-101.DEF) — 43KB
• pbsv_10q_htm.xml (XML) — 371KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

– Financial Statements

Item 1 – Financial Statements Condensed Consolidated Balance Sheets as of July 31, 2024 and October 31, 2023 (unaudited) 3 Condensed Consolidated Statements of Operations for the three-month and nine-month periods ended July 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three-month and nine-month periods ended July 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three-month and nine-month periods ended July 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the three-month and nine-month periods ended July 31, 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 16

– Controls and Procedures

Item 4 – Controls and Procedures 19

OTHER INFORMATION

PART II OTHER INFORMATION

– Legal Proceedings

Item 1 – Legal Proceedings 20

– Risk Factors

Item 1A – Risk Factors 20

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 20

– Exhibits

Item 6 – Exhibits 21

SIGNATURES

SIGNATURES 22 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS PHARMA-BIO SERV, INC. Condensed Consolidated Balance Sheets (Unaudited) ASSETS July 31, 2024* October 31, 2023** Current assets Cash and cash equivalents $ 6,520,182 $ 10,446,054 Marketable securities 6,342,094 4,531,164 Accounts receivable 2,599,159 3,940,845 Prepaids and other assets 474,103 483,034 Total current assets 15,935,538 19,401,097 Property and equipment, net 18,194 32,849 Operating lease right-of-use 239,183 356,450 Other assets 125,594 111,665 Total assets $ 16,318,509 $ 19,902,061 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Current operating lease liabilities $ 161,914 $ 152,474 Accounts payable and accrued expenses 1,112,376 1,467,425 Current portion of US Tax Reform Transition Tax and income taxes payable 624,986 533,782 Total current liabilities 1,899,276 2,153,681 US Tax Reform Transition Tax payable 660,903 1,427,560 Long-term operating lease liabilities 71,362 194,035 Total liabilities 2,631,541 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 22,958,143 and 22,963,451 shares outstanding at July 31, 2024 and October 31, 2023, respectively 2,352 2,351 Additional paid-in capital 1,641,322 1,596,922 Retained earnings 12,337,859 14,853,826 Accumulated other comprehensive income 253,278 210,266 14,234,811 16,663,365 Treasury stock, at cost; 561,529 and 549,429 common shares held at July 31, 2024 and October 31, 2023, respectively ( 547,843 ) ( 536,580 ) Total stockholders' equity 13,686,968 16,126,785 Total liabilities and stockholders' equity $ 16,318,509 $ 19,902,061 * Unaudited. ** Condensed from audited financial statements. See notes to the condensed consolidated financial state

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