2023 Q4 Form 10-Q Financial Statement

#000149315223041007 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $4.810M $3.346M $4.103M
YoY Change 24.8% -18.46% 1288.46%
Cost Of Revenue $4.322M $3.095M $3.125M
YoY Change 41.86% -0.94% 1015.11%
Gross Profit $487.6K $250.1K $978.1K
YoY Change -39.6% -74.43% 6301.2%
Gross Profit Margin 10.14% 7.48% 23.84%
Selling, General & Admin $3.276M $2.617M $2.619M
YoY Change 331.19% -0.1% 193.13%
% of Gross Profit 671.88% 1046.11% 267.79%
Research & Development $426.0K $20.33K
YoY Change -43.84%
% of Gross Profit 87.37% 8.13%
Depreciation & Amortization $24.97K $29.26K $9.950K
YoY Change -35.61% 194.07% 631.62%
% of Gross Profit 5.12% 11.7% 1.02%
Operating Expenses $3.727M $3.179M $2.748M
YoY Change 139.36% 15.68% 182.79%
Operating Profit -$3.240M -$2.929M -$1.770M
YoY Change 332.03% 65.46% 85.06%
Interest Expense -$154.8K $95.33K $31.58K
YoY Change 895.5% 201.83% -108.26%
% of Operating Profit
Other Income/Expense, Net $5.670K $135.4K -$377.2K
YoY Change -135.91% -19.78%
Pretax Income -$7.490M -$2.794M -$2.147M
YoY Change 878.53% 30.1% 50.51%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$7.490M -$2.794M -$2.147M
YoY Change 878.53% 30.1% 50.51%
Net Earnings / Revenue -155.71% -83.5% -52.34%
Basic Earnings Per Share -$0.95 -$0.36
Diluted Earnings Per Share -$1.02 -$0.95 -$356.0K
COMMON SHARES
Basic Shares Outstanding 5.020M shares 2.842M shares 5.251M shares
Diluted Shares Outstanding 2.931M shares 241.3K shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.148M $1.633M $1.186M
YoY Change 221.71% 37.76% 443.02%
Cash & Equivalents $1.148M $1.633M $1.186M
Short-Term Investments
Other Short-Term Assets $190.9K $166.1K $147.8K
YoY Change -7.79% 12.39% -9.58%
Inventory $6.103M $8.821M $6.537M
Prepaid Expenses $190.9K $166.1K $147.8K
Receivables $2.817M $2.631M $2.446M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.26M $13.25M $10.32M
YoY Change 3.53% 28.45% 678.25%
LONG-TERM ASSETS
Property, Plant & Equipment $2.307M $377.3K $486.1K
YoY Change 405.35% -22.38% 26903.89%
Goodwill $2.000M $4.525M
YoY Change -52.38%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $83.40K $5.822M $4.220M
YoY Change -98.65% 37.97%
Total Long-Term Assets $4.390M $6.199M $4.706M
YoY Change -34.0% 31.73% 261327.94%
TOTAL ASSETS
Total Short-Term Assets $10.26M $13.25M $10.32M
Total Long-Term Assets $4.390M $6.199M $4.706M
Total Assets $14.65M $19.45M $15.02M
YoY Change -11.54% 29.48% 1031.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.979M $2.174M $2.312M
YoY Change -21.59% -5.98% 212.53%
Accrued Expenses $1.310M $827.1K $67.92K
YoY Change 19.49% 1117.7% -76.39%
Deferred Revenue
YoY Change
Short-Term Debt $3.456M $1.153M $603.8K
YoY Change 473.55% 90.94% -83.4%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.745M $5.938M $2.988M
YoY Change 59.74% 98.74% -35.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $907.5K $439.5K
YoY Change -7.85%
Total Long-Term Liabilities $907.5K $439.5K $0.00
YoY Change -7.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.745M $5.938M $2.988M
Total Long-Term Liabilities $907.5K $439.5K $0.00
Total Liabilities $7.653M $6.378M $2.988M
YoY Change 46.96% 113.45% -35.94%
SHAREHOLDERS EQUITY
Retained Earnings -$45.21M -$37.72M -$33.35M
YoY Change 32.54% 13.12%
Common Stock $9.005K $5.875K $8.474K
YoY Change -46.81% -30.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.996M $13.07M $12.03M
YoY Change
Total Liabilities & Shareholders Equity $14.65M $19.45M $15.02M
YoY Change -11.54% 29.48% 1031.71%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$7.490M -$2.794M -$2.147M
YoY Change 878.53% 30.1% 50.51%
Depreciation, Depletion And Amortization $24.97K $29.26K $9.950K
YoY Change -35.61% 194.07% 631.62%
Cash From Operating Activities -$946.8K -$3.619M -$2.024M
YoY Change 5.11% 78.86% 232.81%
INVESTING ACTIVITIES
Capital Expenditures $6.300K $0.00
YoY Change -12.98%
Acquisitions
YoY Change
Other Investing Activities -$51.40K -$273.6K -$10.25M
YoY Change -97.33%
Cash From Investing Activities -$57.70K -$273.6K -$10.25M
YoY Change 696.96% -97.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 519.0K 2.789M 10.95M
YoY Change 555.23% -74.52% 1858.38%
NET CHANGE
Cash From Operating Activities -946.8K -3.619M -2.024M
Cash From Investing Activities -57.70K -273.6K -10.25M
Cash From Financing Activities 519.0K 2.789M 10.95M
Net Change In Cash -485.5K -1.104M -1.324M
YoY Change -41.42% -16.68% 2600.63%
FREE CASH FLOW
Cash From Operating Activities -$946.8K -$3.619M -$2.024M
Capital Expenditures $6.300K $0.00
Free Cash Flow -$953.1K -$2.024M
YoY Change 4.97%

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InterestExpense
31584 usd
CY2022Q3 AREB Interest Expense Preemptive Rights Release
InterestExpensePreemptiveRightsRelease
350000 usd
CY2023Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
3203 usd
CY2022Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
4428 usd
CY2023Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
227569 usd
CY2023Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
135442 usd
CY2022Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-377156 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2793670 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2147402 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2793670 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-2147402 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.95
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.95
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.90
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.90
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2930700 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2930700 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
241300 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
241300 shares
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11418222 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4595547 usd
us-gaap Cost Of Revenue
CostOfRevenue
8869432 usd
us-gaap Cost Of Revenue
CostOfRevenue
3462454 usd
us-gaap Gross Profit
GrossProfit
2548790 usd
us-gaap Gross Profit
GrossProfit
1133093 usd
AREB Consulting Payroll And Other Payroll Costs
ConsultingPayrollAndOtherPayrollCosts
2915377 usd
AREB Consulting Payroll And Other Payroll Costs
ConsultingPayrollAndOtherPayrollCosts
1937349 usd
AREB Rental Expense Warehousing Outlet Expense
RentalExpenseWarehousingOutletExpense
732360 usd
AREB Rental Expense Warehousing Outlet Expense
RentalExpenseWarehousingOutletExpense
314314 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
36821 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
146463 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
942687 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
349341 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2542181 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2687728 usd
AREB Depreciation And Amortization Expense
DepreciationAndAmortizationExpense
79260 usd
AREB Depreciation And Amortization Expense
DepreciationAndAmortizationExpense
11311 usd
us-gaap Operating Expenses
OperatingExpenses
7248686 usd
us-gaap Operating Expenses
OperatingExpenses
5446506 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-4699896 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-4313413 usd
us-gaap Interest Expense
InterestExpense
250877 usd
us-gaap Interest Expense
InterestExpense
341990 usd
AREB Interest Expense Preemptive Rights Release
InterestExpensePreemptiveRightsRelease
350000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
3203 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
4428 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 Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1030535 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1000457 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1017950 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
227569 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1376756 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1088967 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2064318 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3610929 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6377731 usd
us-gaap Net Income Loss
NetIncomeLoss
-3610929 usd
us-gaap Net Income Loss
NetIncomeLoss
-6377731 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.50
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-33.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-33.62
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1442600 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1442600 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
189700 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
189700 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
AREB Stock Issued During Period Value New Issues One
StockIssuedDuringPeriodValueNewIssuesOne
565335 usd
AREB Adjustments To Additional Paid In Capital Sale Of Prefunded Common Stock Warrants
AdjustmentsToAdditionalPaidInCapitalSaleOfPrefundedCommonStockWarrants
12322542 usd
AREB Adjustments To Additional Paid In Capital Offering Costs And Fees Associated With Offering
AdjustmentsToAdditionalPaidInCapitalOfferingCostsAndFeesAssociatedWithOffering
-1972578 usd
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
61000 usd
AREB Stock Issued During Period Value Exercise Of Prefunded Warrants
StockIssuedDuringPeriodValueExerciseOfPrefundedWarrants
31234 usd
us-gaap Net Income Loss
NetIncomeLoss
-6377731 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
12033975 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
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
AREB Warrant Inducement Shares Exercised
WarrantInducementSharesExercised
2988687 shares
AREB Stock Issued During Period Value Warrant Inducement And Exercise Of Repriced Common Stock Warrants Per Share
StockIssuedDuringPeriodValueWarrantInducementAndExerciseOfRepricedCommonStockWarrantsPerShare
3287556 usd
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
453756 usd
AREB Stock Issued During Period Value Exercise Of Prefunded Warrants
StockIssuedDuringPeriodValueExerciseOfPrefundedWarrants
6150 usd
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
25984 usd
us-gaap Net Income Loss
NetIncomeLoss
-3610929 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
13072652 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
13072652 usd
us-gaap Net Income Loss
NetIncomeLoss
-3610929 usd
us-gaap Net Income Loss
NetIncomeLoss
-6377731 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
79260 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11311 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1400 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
25984 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
219697 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-40915 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-20184 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1089198 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
869985 usd
AREB Increase Decrease In Inventory Deposits
IncreaseDecreaseInInventoryDeposits
41074 usd
AREB Increase Decrease In Inventory Deposits
IncreaseDecreaseInInventoryDeposits
224894 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-474827 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-297513 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6089219 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5927333 usd
us-gaap Payments To Acquire Business Two Net Of Cash Acquired
PaymentsToAcquireBusinessTwoNetOfCashAcquired
10247420 usd
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
-1402 usd
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
13651 usd
AREB Partial Payment Made On Settlement Of Outstanding Liability Champion Entities Purchase
PartialPaymentMadeOnSettlementOfOutstandingLiabilityChampionEntitiesPurchase
275000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-273598 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10261071 usd
AREB Payments Of Net Offering Costs
PaymentsOfNetOfferingCosts
983080 usd
AREB Payments Of Net Offering Costs
PaymentsOfNetOfferingCosts
3434122 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5298330 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19953755 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
6150 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
31234 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1700000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
10837 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
95332 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-81506 usd
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
1000000 usd
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
60000 usd
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
449675 usd
AREB Repayments Of Non Related Party Debt
RepaymentsOfNonRelatedPartyDebt
2607108 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7639300 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17356375 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1276483 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1167971 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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1633238 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1185578 usd
us-gaap Interest Paid Net
InterestPaidNet
245874 usd
us-gaap Interest Paid Net
InterestPaidNet
234146 usd
AREB Debt Repayment Through Issuance Of Common Stock
DebtRepaymentThroughIssuanceOfCommonStock
2011224 usd
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2014-12-15
us-gaap Fiscal Period
FiscalPeriod
<p id="xdx_841_eus-gaap--FiscalPeriod_zp4Mu2oluGwc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_862_zSkxG9gIR2S5">Year-end</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
less than a 50% likelihood
CY2023Q3 us-gaap Advertising Expense
AdvertisingExpense
172617 usd
CY2022Q3 us-gaap Advertising Expense
AdvertisingExpense
119122 usd
us-gaap Advertising Expense
AdvertisingExpense
942687 usd
us-gaap Advertising Expense
AdvertisingExpense
349341 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.95
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.95
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.90
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.90
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.50
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-33.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-33.62
AREB Shares Used In Computation Of Basic Earnings Per Share
SharesUsedInComputationOfBasicEarningsPerShare
1442600 shares
AREB Shares Used In Computation Of Basic Earnings Per Share
SharesUsedInComputationOfBasicEarningsPerShare
189700 shares
AREB Total Dilutive Effect Of Outstanding Stock Awards Or Common Stock Equivalents
TotalDilutiveEffectOfOutstandingStockAwardsOrCommonStockEquivalents
1714700 shares
AREB Total Dilutive Effect Of Outstanding Stock Awards Or Common Stock Equivalents
TotalDilutiveEffectOfOutstandingStockAwardsOrCommonStockEquivalents
344000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3157300 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
533700 shares
us-gaap Net Income Loss
NetIncomeLoss
-3610929 usd
us-gaap Net Income Loss
NetIncomeLoss
-6377731 usd
AREB Fully Diluted Income Loss Per Share
FullyDilutedIncomeLossPerShare
-1.14
AREB Fully Diluted Income Loss Per Share
FullyDilutedIncomeLossPerShare
-11.95
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
less than a 50% likelihood
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zcnbFbBCe8Q1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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_86D_ziZ04j447Go4">Use of estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 AREB Warranty Liability
WarrantyLiability
100000 usd
CY2022Q4 AREB Warranty Liability
WarrantyLiability
100000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
7731380 usd
CY2022Q4 us-gaap Deposits
Deposits
600000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3610929 usd
us-gaap Net Income Loss
NetIncomeLoss
-6377731 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-37723739 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-34112810 usd
CY2023Q3 AREB Working Capital Deficit
WorkingCapitalDeficit
8111282 usd
CY2022Q4 AREB Working Capital Deficit
WorkingCapitalDeficit
6678562 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
8509992 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7421696 usd
CY2023Q3 AREB Inventory Deposits
InventoryDeposits
310587 usd
CY2022Q4 AREB Inventory Deposits
InventoryDeposits
309684 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
8820579 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
790832 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
815859 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
413568 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
359334 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
377264 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
456525 usd
us-gaap Depreciation
Depreciation
79260 usd
us-gaap Depreciation
Depreciation
11311 usd
CY2023Q3 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P60M
CY2023Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1689163 usd
CY2023Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1689163 usd
CY2023Q3 us-gaap Debt Current
DebtCurrent
600000 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
600000 usd
CY2023Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
1152972 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
602643 usd
CY2023Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
1152972 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
602643 usd
CY2023Q3 AREB Working Capital Loan
WorkingCapitalLoan
600000 usd
CY2023Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
1152972 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
602643 usd
CY2023Q3 us-gaap Goodwill
Goodwill
4525000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
4200000 usd
CY2023Q3 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
4500000 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
4200000 usd
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
37723739 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
34112810 usd
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7922000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7163690 usd
CY2023Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7922000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7163690 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7922000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7163690 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7922000 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 September 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
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