$REBN
Reborn Coffee, Inc.

2023 Q3 Form 10-Q Financial Statement

#000121390023086898 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3
Revenue $1.514M
YoY Change 80.65%
Cost Of Revenue $11.56K
YoY Change 141.92%
Gross Profit $1.503M
YoY Change 80.29%
Gross Profit Margin 99.24%
Selling, General & Admin $1.793M
YoY Change 20.63%
% of Gross Profit 119.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $63.26K
YoY Change 30.2%
% of Gross Profit 4.21%
Operating Expenses $1.793M
YoY Change 20.63%
Operating Profit -$732.7K
YoY Change -18.19%
Interest Expense $18.53K
YoY Change -24.14%
% of Operating Profit
Other Income/Expense, Net -$8.360K
YoY Change
Pretax Income -$741.1K
YoY Change -19.45%
Income Tax $7.828K
% Of Pretax Income
Net Earnings -$748.9K
YoY Change -18.6%
Net Earnings / Revenue -49.46%
Basic Earnings Per Share -$0.06
Diluted Earnings Per Share -$0.06
COMMON SHARES
Basic Shares Outstanding 13.24M shares
Diluted Shares Outstanding 13.24M shares

Balance Sheet

Concept 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $364.0K
YoY Change -92.31%
Cash & Equivalents $364.0K
Short-Term Investments
Other Short-Term Assets $1.272M
YoY Change 396.57%
Inventory $166.3K
Prepaid Expenses
Receivables $13.81K
Other Receivables $0.00
Total Short-Term Assets $1.816M
YoY Change -64.32%
LONG-TERM ASSETS
Property, Plant & Equipment $2.130M
YoY Change 64.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $45.98K
YoY Change
Total Long-Term Assets $6.625M
YoY Change 63.1%
TOTAL ASSETS
Total Short-Term Assets $1.816M
Total Long-Term Assets $6.625M
Total Assets $8.441M
YoY Change -7.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $298.3K
YoY Change 1321.93%
Accrued Expenses $1.047M
YoY Change 15.26%
Deferred Revenue
YoY Change
Short-Term Debt $1.009M
YoY Change
Long-Term Debt Due $30.06K
YoY Change 176.77%
Total Short-Term Liabilities $2.565M
YoY Change 142.9%
LONG-TERM LIABILITIES
Long-Term Debt $557.7K
YoY Change -11.65%
Other Long-Term Liabilities $3.753M
YoY Change 65.99%
Total Long-Term Liabilities $4.311M
YoY Change 49.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.565M
Total Long-Term Liabilities $4.311M
Total Liabilities $6.876M
YoY Change 74.15%
SHAREHOLDERS EQUITY
Retained Earnings -$15.04M
YoY Change 37.98%
Common Stock $1.326K
YoY Change 1.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.565M
YoY Change
Total Liabilities & Shareholders Equity $8.441M
YoY Change -7.76%

Cashflow Statement

Concept 2023 Q3
OPERATING ACTIVITIES
Net Income -$748.9K
YoY Change -18.6%
Depreciation, Depletion And Amortization $63.26K
YoY Change 30.2%
Cash From Operating Activities -$710.8K
YoY Change -10.79%
INVESTING ACTIVITIES
Capital Expenditures -$3.674M
YoY Change 2129.24%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $3.674M
YoY Change -2329.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.938M
YoY Change -153.01%
NET CHANGE
Cash From Operating Activities -710.8K
Cash From Investing Activities 3.674M
Cash From Financing Activities -2.938M
Net Change In Cash 24.91K
YoY Change -99.46%
FREE CASH FLOW
Cash From Operating Activities -$710.8K
Capital Expenditures -$3.674M
Free Cash Flow $2.963M
YoY Change -568.85%

Facts In Submission

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dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
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dei Document Period End Date
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2023-09-30
dei Document Fiscal Year Focus
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dei Document Transition Report
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dei Entity File Number
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001-41479
dei Entity Registrant Name
EntityRegistrantName
REBORN COFFEE, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
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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; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>●</b></span></td><td style="text-align: left"><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; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>●</b></span></td> <td> <p style="text-align: left; 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 September 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 formed solely for the real estate transaction purpose.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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 as the “Company”. </p>
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