2023 Q3 Form 10-Q Financial Statement

#000149315223028583 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $3.346M $3.671M $338.7K
YoY Change -18.46% 983.7% 66.38%
Cost Of Revenue $3.095M $2.983M $241.1K
YoY Change -0.94% 1137.23% 43.0%
Gross Profit $250.1K $687.9K $97.63K
YoY Change -74.43% 604.6% 179.01%
Gross Profit Margin 7.48% 18.74% 28.82%
Selling, General & Admin $2.617M $2.041M $1.419M
YoY Change -0.1% 43.84% 22.49%
% of Gross Profit 1046.11% 296.68% 1453.3%
Research & Development $20.33K $113.2K
YoY Change -22.65%
% of Gross Profit 8.13% 115.94%
Depreciation & Amortization $29.26K $25.28K $460.00
YoY Change 194.07% 5395.65% 142.11%
% of Gross Profit 11.7% 3.68% 0.47%
Operating Expenses $3.179M $2.239M $1.682M
YoY Change 15.68% 33.12% 23.42%
Operating Profit -$2.929M -$1.551M -$1.584M
YoY Change 65.46% -2.1% 19.31%
Interest Expense $95.33K $148.4K $18.00K
YoY Change 201.83% 724.6% -96.84%
% of Operating Profit
Other Income/Expense, Net $135.4K $1.108M
YoY Change -135.91%
Pretax Income -$2.794M -$590.2K -$1.602M
YoY Change 30.1% -63.16% -36.82%
Income Tax
% Of Pretax Income
Net Earnings -$2.794M -$590.2K -$1.602M
YoY Change 30.1% -63.16% -36.82%
Net Earnings / Revenue -83.5% -16.08% -473.0%
Basic Earnings Per Share -$0.95 -$0.87 -$0.34
Diluted Earnings Per Share -$0.95 -$0.87 -$337.9K
COMMON SHARES
Basic Shares Outstanding 2.842M shares 16.93M shares 4.741M shares
Diluted Shares Outstanding 2.931M shares 679.0K shares 126.8K shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.633M $2.733M $2.510M
YoY Change 37.76% 8.9% 838.77%
Cash & Equivalents $1.633M $2.733M $2.510M
Short-Term Investments
Other Short-Term Assets $166.1K $160.3K $529.5K
YoY Change 12.39% -69.73% 666.38%
Inventory $8.821M $8.874M $1.051M
Prepaid Expenses $166.1K $160.3K $529.5K
Receivables $2.631M $1.982M $273.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.25M $13.75M $4.364M
YoY Change 28.45% 215.09% 252.76%
LONG-TERM ASSETS
Property, Plant & Equipment $377.3K $402.2K $13.20K
YoY Change -22.38% 2947.57% 379.85%
Goodwill $4.525M $4.200M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.822M $5.716M $4.750K
YoY Change 37.97% 120245.07%
Total Long-Term Assets $6.199M $6.119M $17.95K
YoY Change 31.73% 33994.21% 552.58%
TOTAL ASSETS
Total Short-Term Assets $13.25M $13.75M $4.364M
Total Long-Term Assets $6.199M $6.119M $17.95K
Total Assets $19.45M $19.87M $4.382M
YoY Change 29.48% 353.44% 253.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.174M $2.289M $530.6K
YoY Change -5.98% 331.38% -23.79%
Accrued Expenses $827.1K $1.069M $67.92K
YoY Change 1117.7% 1474.57% -85.94%
Deferred Revenue
YoY Change
Short-Term Debt $1.153M $1.482M $605.0K
YoY Change 90.94% 145.02% -84.71%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.938M $6.347M $1.208M
YoY Change 98.74% 425.39% -76.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $439.5K $521.7K
YoY Change
Total Long-Term Liabilities $439.5K $521.7K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.938M $6.347M $1.208M
Total Long-Term Liabilities $439.5K $521.7K $0.00
Total Liabilities $6.378M $6.868M $1.208M
YoY Change 113.45% 468.59% -77.55%
SHAREHOLDERS EQUITY
Retained Earnings -$37.72M -$34.93M -$31.20M
YoY Change 13.12% 11.96%
Common Stock $5.875K $749.00 $4.741K
YoY Change -30.67% -84.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.07M $13.00M $3.174M
YoY Change
Total Liabilities & Shareholders Equity $19.45M $19.87M $4.382M
YoY Change 29.48% 353.44% 253.42%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$2.794M -$590.2K -$1.602M
YoY Change 30.1% -63.16% -36.82%
Depreciation, Depletion And Amortization $29.26K $25.28K $460.00
YoY Change 194.07% 5395.65% 142.11%
Cash From Operating Activities -$3.619M -$784.3K -$979.6K
YoY Change 78.86% -19.93% 518.03%
INVESTING ACTIVITIES
Capital Expenditures -$13.65K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$273.6K $1.400K -$13.65K
YoY Change -97.33% -110.26%
Cash From Investing Activities -$273.6K $1.400K -$13.65K
YoY Change -97.33% -110.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.789M 3.050M -5.480K
YoY Change -74.52% -55760.95% -101.41%
NET CHANGE
Cash From Operating Activities -3.619M -784.3K -979.6K
Cash From Investing Activities -273.6K 1.400K -13.65K
Cash From Financing Activities 2.789M 3.050M -5.480K
Net Change In Cash -1.104M 2.267M -998.7K
YoY Change -16.68% -327.02% -532.77%
FREE CASH FLOW
Cash From Operating Activities -$3.619M -$784.3K -$979.6K
Capital Expenditures -$13.65K
Free Cash Flow -$965.9K
YoY Change

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CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1584091 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
148437 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
18001 usd
CY2023Q2 AREB Employee Retention Credit Funds Net Of Costs To Collect
EmployeeRetentionCreditFundsNetOfCostsToCollect
1107672 usd
CY2023Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1400 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-590204 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1602092 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-590204 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-1602092 usd
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.87
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.87
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-20.75
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-20.75
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
679000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
679000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126760 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126760 shares
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8072670 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
492786 usd
us-gaap Cost Of Revenue
CostOfRevenue
5774014 usd
us-gaap Cost Of Revenue
CostOfRevenue
337797 usd
us-gaap Gross Profit
GrossProfit
2298656 usd
us-gaap Gross Profit
GrossProfit
154989 usd
AREB Consulting Payroll And Other Payroll Costs
ConsultingPayrollAndOtherPayrollCosts
1876104 usd
AREB Consulting Payroll And Other Payroll Costs
ConsultingPayrollAndOtherPayrollCosts
709396 usd
AREB Rental Expense Warehousing Outlet Expense
RentalExpenseWarehousingOutletExpense
502134 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16495 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
146463 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
425342 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
230219 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1195000 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1610723 usd
us-gaap Depreciation Nonproduction
DepreciationNonproduction
54365 usd
us-gaap Depreciation Nonproduction
DepreciationNonproduction
1355 usd
us-gaap Operating Expenses
OperatingExpenses
4069440 usd
us-gaap Operating Expenses
OperatingExpenses
2698156 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-1770784 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-2543167 usd
us-gaap Interest Expense
InterestExpense
155547 usd
us-gaap Interest Expense
InterestExpense
310406 usd
AREB Employee Retention Credit Funds Net Of Costs To Collect
EmployeeRetentionCreditFundsNetOfCostsToCollect
1107672 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1400 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1376756 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-817259 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4230329 usd
us-gaap Net Income Loss
NetIncomeLoss
-817259 usd
us-gaap Net Income Loss
NetIncomeLoss
-4230329 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-33.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-33.37
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
678000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
678000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126760 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126760 shares
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-4170337 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9038456 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
969535 usd
us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
1566559 usd
us-gaap Net Income Loss
NetIncomeLoss
-4230329 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
3173844 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
11353119 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
11353119 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
312452 usd
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
615000 shares
CY2023Q2 AREB Sale Of Prefunded Stock Price Per Share
SaleOfPrefundedStockPricePerShare
4.36
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
AREB Adjustments To Additional Paid In Capital Sale Of Prefunded Common Stock Warrants
AdjustmentsToAdditionalPaidInCapitalSaleOfPrefundedCommonStockWarrants
2681400 usd
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-529324 usd
us-gaap Net Income Loss
NetIncomeLoss
-817259 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
13000388 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
13000388 usd
us-gaap Net Income Loss
NetIncomeLoss
-817259 usd
us-gaap Net Income Loss
NetIncomeLoss
-4230329 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
54365 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1355 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1400 usd
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
969535 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1000457 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
368993 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
172307 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-46756 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
469295 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1142671 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
140639 usd
AREB Increase Decrease In Inventory Deposits
IncreaseDecreaseInInventoryDeposits
11087 usd
AREB Increase Decrease In Inventory Deposits
IncreaseDecreaseInInventoryDeposits
224894 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-234630 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-637706 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2474919 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3903823 usd
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
-1402 usd
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
13651 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1402 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13651 usd
AREB Payments Of Net Offering Costs
PaymentsOfNetOfferingCosts
529324 usd
AREB Payments Of Net Offering Costs
PaymentsOfNetOfferingCosts
1461544 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2464528 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9038456 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1700000 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
146000 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-81506 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
340317 usd
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
1000000 usd
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
117800 usd
AREB Proceeds From Working Capital Loan Preexisting Lender
ProceedsFromWorkingCapitalLoanPreexistingLender
60000 usd
AREB Principal Payments On Working Capital Loan Preexisting Lender
PrincipalPaymentsOnWorkingCapitalLoanPreexistingLender
2395 usd
AREB Repayments Of Non Related Party Debt
RepaymentsOfNonRelatedPartyDebt
2607108 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4850016 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6409842 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2376499 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2492368 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
356754 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17607 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2733253 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2509975 usd
us-gaap Interest Paid Net
InterestPaidNet
156252 usd
us-gaap Interest Paid Net
InterestPaidNet
206607 usd
AREB Debt Repayment Through Issuance Of Common Stock
DebtRepaymentThroughIssuanceOfCommonStock
1950224 usd
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2014-12-15
us-gaap Fiscal Period
FiscalPeriod
<p id="xdx_844_eus-gaap--FiscalPeriod_znsTol8f1jAd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86A_zOu7pF3S1UUi">Year-end</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s year-end is December 31.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.25
CY2022Q4 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
15099 shares
CY2023Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
172617 usd
CY2022Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
149249 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
425342 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
230219 usd
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.87
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.87
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-20.75
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-20.75
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-33.37
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-33.37
AREB Shares Used In Computation Of Basic Earnings Per Share
SharesUsedInComputationOfBasicEarningsPerShare
678000 shares
AREB Shares Used In Computation Of Basic Earnings Per Share
SharesUsedInComputationOfBasicEarningsPerShare
126760 shares
AREB Total Dilutive Effect Of Outstanding Stock Awards Or Common Stock Equivalents
TotalDilutiveEffectOfOutstandingStockAwardsOrCommonStockEquivalents
1078 shares
AREB Total Dilutive Effect Of Outstanding Stock Awards Or Common Stock Equivalents
TotalDilutiveEffectOfOutstandingStockAwardsOrCommonStockEquivalents
75500 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1756000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
202260 shares
us-gaap Net Income Loss
NetIncomeLoss
-817259 usd
us-gaap Net Income Loss
NetIncomeLoss
-4230329 usd
AREB Fully Diluted Income Loss Per Share
FullyDilutedIncomeLossPerShare
0.47
AREB Fully Diluted Income Loss Per Share
FullyDilutedIncomeLossPerShare
20.92
us-gaap Payments For Rent
PaymentsForRent
453000 usd
us-gaap Payments For Rent
PaymentsForRent
0 usd
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
less than a 50% likelihood
CY2022 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
less than a 50% likelihood
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_845_eus-gaap--UseOfEstimates_zIFAa8qkGUu9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86B_zuz6SKbo9LR">Use of estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ significantly from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 AREB Warrant Liabilities
WarrantLiabilities
93458 usd
AREB Warrant Liabilities
WarrantLiabilities
99238 usd
us-gaap Net Income Loss
NetIncomeLoss
-817259 usd
us-gaap Net Income Loss
NetIncomeLoss
-4230329 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-34930069 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-34112810 usd
CY2023Q2 AREB Working Capital Deficit
WorkingCapitalDeficit
7403583 usd
CY2022Q4 AREB Working Capital Deficit
WorkingCapitalDeficit
6678562 usd
CY2023Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
8563465 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7421696 usd
CY2023Q2 AREB Inventory Deposits
InventoryDeposits
310587 usd
CY2022Q4 AREB Inventory Deposits
InventoryDeposits
309684 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
8874052 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
7731380 usd
CY2022Q4 us-gaap Deposits
Deposits
600000 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
790832 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
815859 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
388675 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
359334 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
402157 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
456525 usd
us-gaap Depreciation
Depreciation
54365 usd
us-gaap Depreciation
Depreciation
1355 usd
CY2023Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1359683 usd
CY2023Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1359683 usd
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
1482449 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
602643 usd
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
1482449 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
602643 usd
CY2023Q2 us-gaap Secured Debt
SecuredDebt
1482449 usd
CY2022Q4 us-gaap Secured Debt
SecuredDebt
602643 usd
CY2023Q2 us-gaap Goodwill
Goodwill
4200000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
4200000 usd
CY2023Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
4200000 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
4200000 usd
CY2023Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
34930069 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
34112810 usd
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7335000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7163690 usd
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7335000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7163690 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7335000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7163690 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7335000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7163690 usd
us-gaap Valuation Allowance Deferred Tax Asset Explanation Of Change
ValuationAllowanceDeferredTaxAssetExplanationOfChange
As a result, management determined it was more likely than not deferred tax assets will not be realized as of June 30, 2023, and December 31, 2022, and recognized 100% valuation allowance for each period.
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.000 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.000 pure
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.210 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
CY2022Q3 AREB Corporate Alternative Minimum Income Tax Rate
CorporateAlternativeMinimumIncomeTaxRate
0.15 pure
CY2022Q3 AREB Percentage Ogexcise Tax On Corporate Stock Repurchases
PercentageOgexciseTaxOnCorporateStockRepurchases
0.01 pure
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
600000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-25
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
The June 30, 2023 share numbers do not reflect any adjustment due to the 100-share round lot rounding up that has been inherent in the Company’s reverse stock splits since 2022. A shareholder that held a minimum of 100 shares pre-reverse split, based on the reverse stock split now holds less than 100 shares of our common stock will be issued an additional number of shares to ensure that they continue to maintain at least 100 shares of our common stock in ownership.
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1000000 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
129.6875
CY2022Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1566659.00 usd
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
15099 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
15099 shares
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
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CY2022Q3 us-gaap Sale Of Stock Consideration Received On Transaction
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CY2022Q3 us-gaap Stock Issued During Period Shares New Issues
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CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
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CY2023Q2 us-gaap Share Price
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ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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129.6875
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P5Y
CY2022 AREB Share Based Payment Award Options Granted Debt Conversion
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CY2022 AREB Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Warrant
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CY2022 AREB Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Warrant Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageWarrantExercisePrice
0.25
CY2022 AREB Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Warrant Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualWarrantTerm2
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CY2022 AREB Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period One
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CY2022 AREB Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price One
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21.50
CY2022 AREB Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
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463195 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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P5Y
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26.50
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453320 usd
AREB Rent Expense For Operating Leases
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AREB Rental Equipment Expense For Finance Leases
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490058 usd
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P3Y
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P0Y
CY2022Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P0Y
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0.0500 pure
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0.0500 pure
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688526 usd
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3733 usd
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1515737 usd
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85257 usd
CY2023Q2 us-gaap Operating Lease Liability
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1430480 usd
CY2023Q2 us-gaap Letters Of Credit Outstanding Amount
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0 usd
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LettersOfCreditOutstandingAmount
0 usd
CY2023Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1359683 usd

Files In Submission

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areb-20230630_cal.xml Edgar Link unprocessable
areb-20230630_lab.xml Edgar Link unprocessable
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report.css Edgar Link pending
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areb-20230630_pre.xml Edgar Link unprocessable