$REBN
Reborn Coffee, Inc.

2023 Q2 Form 10-Q Financial Statement

#000121390023066519 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $1.519M $788.5K
YoY Change 92.64% 60.52%
Cost Of Revenue $10.65K $5.484K
YoY Change 94.24% -18.54%
Gross Profit $1.508M $783.0K
YoY Change 92.63% 61.62%
Gross Profit Margin 99.3% 99.3%
Selling, General & Admin $2.189M $1.432M
YoY Change 52.83% 149.73%
% of Gross Profit 145.15% 182.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $79.30K $48.79K
YoY Change 62.54% 6.53%
% of Gross Profit 5.26% 6.23%
Operating Expenses $2.189M $1.432M
YoY Change 52.83% 118.52%
Operating Profit -$1.199M -$928.4K
YoY Change 29.19% 202.11%
Interest Expense $94.23K $10.20K
YoY Change 824.21% 2569.11%
% of Operating Profit
Other Income/Expense, Net $0.00 $1.440K
YoY Change -100.0%
Pretax Income -$1.294M -$937.1K
YoY Change 38.04% 204.58%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.294M -$937.1K
YoY Change 38.04% 204.58%
Net Earnings / Revenue -85.17% -118.86%
Basic Earnings Per Share -$0.10 -$0.08
Diluted Earnings Per Share -$0.10 -$0.08
COMMON SHARES
Basic Shares Outstanding 13.16M shares 11.67M shares
Diluted Shares Outstanding 13.24M shares 11.67M shares

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $337.5K $149.8K
YoY Change 125.26%
Cash & Equivalents $337.5K $149.8K
Short-Term Investments
Other Short-Term Assets $1.284M $220.1K
YoY Change 483.49%
Inventory $124.8K $103.0K
Prepaid Expenses
Receivables $2.285K $1.293K
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.749M $474.2K
YoY Change 268.81%
LONG-TERM ASSETS
Property, Plant & Equipment $5.864M $1.181M
YoY Change 396.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $235.2K
YoY Change
Total Long-Term Assets $10.31M $4.119M
YoY Change 150.28%
TOTAL ASSETS
Total Short-Term Assets $1.749M $474.2K
Total Long-Term Assets $10.31M $4.119M
Total Assets $12.06M $4.593M
YoY Change 162.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $293.9K $158.00
YoY Change 185919.62%
Accrued Expenses $1.230M $826.7K
YoY Change 48.8%
Deferred Revenue
YoY Change
Short-Term Debt $974.0K $744.5K
YoY Change 30.82%
Long-Term Debt Due $30.06K $10.76K
YoY Change 179.37%
Total Short-Term Liabilities $2.763M $1.628M
YoY Change 69.78%
LONG-TERM LIABILITIES
Long-Term Debt $3.475M $617.2K
YoY Change 463.06%
Other Long-Term Liabilities $3.540M $2.427M
YoY Change 45.86%
Total Long-Term Liabilities $7.015M $3.044M
YoY Change 130.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.763M $1.628M
Total Long-Term Liabilities $7.015M $3.044M
Total Liabilities $9.779M $4.672M
YoY Change 109.31%
SHAREHOLDERS EQUITY
Retained Earnings -$14.29M -$9.979M
YoY Change 43.19%
Common Stock $1.321K $1.168K
YoY Change 13.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.279M -$78.97K
YoY Change
Total Liabilities & Shareholders Equity $12.06M $4.593M
YoY Change 162.52%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$1.294M -$937.1K
YoY Change 38.04% 204.58%
Depreciation, Depletion And Amortization $79.30K $48.79K
YoY Change 62.54% 6.53%
Cash From Operating Activities -$619.8K -$714.2K
YoY Change -13.22%
INVESTING ACTIVITIES
Capital Expenditures $3.947M -$18.50K
YoY Change -21434.76%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$3.947M -$18.50K
YoY Change 21234.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.031M 699.4K
YoY Change 476.4%
NET CHANGE
Cash From Operating Activities -619.8K -714.2K
Cash From Investing Activities -3.947M -18.50K
Cash From Financing Activities 4.031M 699.4K
Net Change In Cash -535.6K -33.36K
YoY Change 1505.52%
FREE CASH FLOW
Cash From Operating Activities -$619.8K -$714.2K
Capital Expenditures $3.947M -$18.50K
Free Cash Flow -$4.567M -$695.7K
YoY Change 556.4%

Facts In Submission

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REBORN COFFEE, INC.
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>1. NATURE OF OPERATIONS </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Reborn Coffee, Inc. (“Reborn”) was incorporated in the State of Florida in January 2018. In July 2022, Reborn was migrated from Florida to Delaware, and filed a certificate of incorporation with the Secretary of State of the State of Delaware having the same capitalization structure as the Florida predecessor entity. Reborn has the following wholly owned subsidiaries:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>●</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reborn Global Holdings, Inc.</i></b> (“Reborn Holdings”), a California Corporation incorporated in November 2014. Reborn Holdings is engaged in the operation of wholesale distribution and retail coffee stores in California to sell a variety of coffee, tea, Reborn brand name water and other beverages along with bakery and dessert products.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>●</b></span></td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Reborn Coffee Franchise, LLC</i></b> (the “Reborn Coffee Franchise”), a California limited liability corporation formed in December 2020, is a franchisor providing premier roaster specialty coffee to franchisees or customers. Reborn Coffee Franchise continues to develop the Reborn Coffee system for the establishment and operation of Reborn Coffee stores using one or more Reborn Coffee marks. Reborn Coffee Franchise does not have any franchisees as of June 30, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p></td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>●</b></span></td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Reborn Realty, LLC</i></b> (the “Reborn Realty”), a California limited liability corporation formed in March 2023, is an entity which acquired a real property located at 596 Apollo Street, Brea, California.</p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Reborn Coffee, Inc., Reborn Global Holdings, Inc., Reborn Coffee Franchise, LLC and Reborn Realty, LLC will be collectively referred to as the “Company”. </p>
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