$REBN
Reborn Coffee, Inc.

2024 Q4 Form 10-Q Financial Statement

#000121390024100247 Filed on November 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $1.259M $1.514M
YoY Change -16.86% 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 $11.85K $63.26K
YoY Change -81.27% 30.2%
% of Gross Profit 4.21%
Operating Expenses $1.793M
YoY Change 20.63%
Operating Profit -$724.7K -$732.7K
YoY Change -1.09% -18.19%
Interest Expense $18.53K
YoY Change -24.14%
% of Operating Profit
Other Income/Expense, Net $5.750K -$8.360K
YoY Change -168.78%
Pretax Income -$718.9K -$741.1K
YoY Change -2.99% -19.45%
Income Tax $800.00 $7.828K
% Of Pretax Income
Net Earnings -$719.7K -$748.9K
YoY Change -3.89% -18.6%
Net Earnings / Revenue -57.17% -49.46%
Basic Earnings Per Share -$0.30 -$0.06
Diluted Earnings Per Share -$0.30 -$0.06
COMMON SHARES
Basic Shares Outstanding 3.673M shares 3.367M shares 13.24M shares
Diluted Shares Outstanding 2.421M shares 13.24M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $364.0K
YoY Change -92.31%
Cash & Equivalents $105.9K $364.0K
Short-Term Investments
Other Short-Term Assets $1.272M
YoY Change 396.57%
Inventory $251.6K $166.3K
Prepaid Expenses
Receivables $76.81K $13.81K
Other Receivables $0.00
Total Short-Term Assets $1.369M $1.816M
YoY Change -24.65% -64.32%
LONG-TERM ASSETS
Property, Plant & Equipment $3.951M $2.130M
YoY Change 85.51% 64.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $328.6K $45.98K
YoY Change 614.72%
Total Long-Term Assets $8.273M $6.625M
YoY Change 24.88% 63.1%
TOTAL ASSETS
Total Short-Term Assets $1.369M $1.816M
Total Long-Term Assets $8.273M $6.625M
Total Assets $9.641M $8.441M
YoY Change 14.22% -7.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $528.7K $298.3K
YoY Change 77.25% 1321.93%
Accrued Expenses $825.6K $1.047M
YoY Change -21.18% 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 $3.322M $2.565M
YoY Change 29.47% 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 $3.322M $2.565M
Total Long-Term Liabilities $4.311M
Total Liabilities $6.975M $6.876M
YoY Change 1.44% 74.15%
SHAREHOLDERS EQUITY
Retained Earnings -$19.78M -$15.04M
YoY Change 31.55% 37.98%
Common Stock $334.00 $1.326K
YoY Change -74.81% 1.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.666M $1.565M
YoY Change
Total Liabilities & Shareholders Equity $9.641M $8.441M
YoY Change 14.22% -7.76%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$719.7K -$748.9K
YoY Change -3.89% -18.6%
Depreciation, Depletion And Amortization $11.85K $63.26K
YoY Change -81.27% 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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REBORN COFFEE, INC.
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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-641059 usd
us-gaap Net Cash Provided By Used In Investing Activities
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-746426 usd
us-gaap Proceeds From Issuance Of Common Stock
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rebn Repayments Of Borrowings From Shareholder
RepaymentsOfBorrowingsFromShareholder
100000 usd
rebn Proceeds Frm Loan Payable To Others
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186786 usd
us-gaap Proceeds From Lines Of Credit
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1009027 usd
rebn Repayent Of Loan Payable Public Private Partnership
RepayentOfLoanPayablePublicPrivatePartnership
35327 usd
rebn Repayent Of Loan Payable Public Private Partnership
RepayentOfLoanPayablePublicPrivatePartnership
35327 usd
us-gaap Proceeds From Issuance Of First Mortgage Bond
ProceedsFromIssuanceOfFirstMortgageBond
2850000 usd
us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
2850000 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
286032 usd
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
1029147 usd
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
177598 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3902291 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1082134 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-58438 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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-2655084 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
164301 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3019035 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105863 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
363951 usd
us-gaap Stock Issued1
StockIssued1
285000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1169606 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
900978 usd
us-gaap Interest Paid Net
InterestPaidNet
149827 usd
us-gaap Interest Paid Net
InterestPaidNet
124967 usd
us-gaap Nature Of Operations
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="background-color: white"><b>1. NATURE OF OPERATIONS</b></span></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"><span style="background-color: white">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 subsidiaries:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.5pt; text-indent: -0.25in"> </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">●</span></td><td style="text-align: justify"><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 and wholly-owned by Reborn Coffee, Inc. 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 38.5pt; text-indent: -0.25in"> </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">●</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reborn Coffee Franchise, LLC</i></b> (the “Reborn Coffee Franchise”), a California limited liability corporation formed in December 2020 and wholly-owned by Reborn Coffee, Inc, 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 franchisee as of September 30, 2024.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </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">●</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reborn Realty, LLC</i></b> (the “Reborn Realty”), a California limited liability corporation formed in March 2023 and wholly-owned by Reborn Coffee, Inc, is an entity which acquired a real property located at 596 Apollo Street, Brea, California.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </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">●</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reborn Coffee Korea, Inc. </i></b>(the “Reborn Korea”) <b>– </b>a Korea corporation located in Daejon, South Korea formed in October 2023 and wholly-owned by Reborn Coffee, Inc, with one retail coffee store under the brand name of Reborn Coffee.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </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">●</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reborn Malaysia, Inc. </i></b>(the “Reborn Malaysia”) <b>– </b>a Malaysian corporation located in Kuala Lumpur, Malaysia formed in October 2023, is majority owned by Reborn Coffee, Inc. (60% ownership), with one retail coffee store under the brand name of Reborn Coffee.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <p style="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">Reborn Coffee, Inc., Reborn Global Holdings, Inc., Reborn Coffee Franchise, LLC, Reborn Realty, LLC, Reborn Korea and Reborn Malaysia will be collectively referred as the “Company”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white"><b><i>Going Concern Matters</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”), which contemplates the Company’s continuation as a going concern. The Company incurred a net comprehensive loss of $3,026,904 during the nine months ended September 30, 2024, and has an accumulated deficit of $19,783,828 as of September 30, 2024. In addition, current liabilities exceed current assets by $1,953,000 as of September 30, 2024. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">Management intends to raise additional operating funds through equity and/or debt offerings. However, there can be no assurance management will be successful in its endeavors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings, and/or bank financing necessary to support its working capital requirements. To the extent that funds generated from operations and any private placements, public offerings, and/or bank financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available to the Company, it may be required to curtail or cease its operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><span style="background-color: white"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">Due to uncertainties related to these matters, there exists substantial doubt about the ability of the Company to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments related to the recoverability or classification of asset-carrying amounts or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white"><b><i>Unaudited Interim Financial Statements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">The accompanying interim unaudited condensed consolidated financial statements (“Interim Financial Statements”) of the Company and its 100%-owned subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q and Regulation S-X. Accordingly, these Interim Financial Statements do not include all of the information and notes required by GAAP for complete financial statements. These Interim Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2023 included in the Company’s Form 10-K/A. In the opinion of management, the Interim Financial Statements included herein contain all adjustments, including normal recurring adjustments, considered necessary to present fairly the Company’s financial position, the results of operations and cash flows for the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">The operating results and cash flows of the interim periods presented herein are not necessarily indicative of the results to be expected for any other interim period or the full year.</span></p>
us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-19783828 usd
CY2024Q3 rebn Working Capital Deficit
WorkingCapitalDeficit
1953000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
4155503 usd
CY2024Q3 us-gaap Noncurrent Assets
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3950555 usd
CY2023Q4 us-gaap Noncurrent Assets
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3494050 usd
us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">The preparation of consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and the accompanying notes. Such estimates include accounts receivables, accrued liabilities, income taxes, long-lived assets, and deferred tax valuation allowances. These estimates generally involve complex issues and require management to make judgments, involve analysis of historical and future trends that can require extended periods of time to resolve, and are subject to change from period to period. In all cases, actual results could differ materially from estimates.</span></p>
us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
0 usd
us-gaap Royalty Income Nonoperating
RoyaltyIncomeNonoperating
0 usd
us-gaap Advertising Expense
AdvertisingExpense
110050 usd
us-gaap Advertising Expense
AdvertisingExpense
49531 usd
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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AllowanceForDoubtfulAccountsReceivableCurrent
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rebn Property Plant And Equipment Useful Life Using Straight Line Method Text Table Block
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Depreciation and amortization are provided using both the straight-line and declining balance methods over the following estimated useful lives:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 40%; text-align: left">Furniture and fixtures</td> <td style="text-align: left; width: 60%; vertical-align: top">5-7 Years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left">Store construction</td> <td style="vertical-align: top; text-align: left">Lesser of the lease term or the estimated useful lives of the improvements, generally 6 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Leasehold improvement</td> <td style="vertical-align: top; text-align: left">Lesser of the lease term or the estimated useful lives of the improvements, generally 6 years</td></tr> </table>
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0.50 pure
us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white"><b><i>Concentration of Credit Risk</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable arising from its normal business activities. The Company performs ongoing credit evaluations to its customers and establishes allowances when appropriate.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><span style="background-color: white">Company purchases from various vendors for its operations. For the three and nine months ended September 30, 2024 and 2023, no purchases from any vendors accounted for a significant amount of the Company’s coffee bean purchases.</span></p>
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5359229 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4718169 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1224119 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3950555 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3494050 usd
us-gaap Depreciation
Depreciation
184555 usd
us-gaap Depreciation
Depreciation
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CY2024Q3 us-gaap Depreciation
Depreciation
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CY2023Q3 us-gaap Depreciation
Depreciation
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CY2023Q4 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
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LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
30060 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
30060 usd
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
30060 usd
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
30060 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
30060 usd
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LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
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CY2024Q3 us-gaap Long Term Debt
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500000 usd
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LoanPayableFromPayrollProtectionProgram
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LoanPayablePayrollProtectionsProgramPPPCurrent
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LoanpayablepayrollprotectionsprogramPPPNonCurrent
24452 usd
CY2023Q4 rebn Loanpayablepayrollprotectionsprogram Ppp Non Current
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51595 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0698 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0698 pure
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0 pure
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.2798 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
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DeferredTaxAssetsOperatingLossCarryforwards
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CY2024Q3 us-gaap Deferred Tax Assets Gross
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3507307 usd
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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3507307 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
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3507000 usd
us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
0.80 pure
CY2024Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
4298000 usd
CY2024Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
4298000 usd
CY2018Q3 us-gaap Lessee Operating Lease Term Of Contract
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P72M
CY2023Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P60M
CY2016Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P60M
CY2017Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P120M
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P60M
CY2021Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P60M
CY2022Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P60M
CY2022Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P124M
CY2021Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P84M
CY2022Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P9M
CY2022Q4 us-gaap Retail Land Sales Receivables Stated Interest Rate
RetailLandSalesReceivablesStatedInterestRate
0.10 pure
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P120M
us-gaap Operating Lease Cost
OperatingLeaseCost
1161127 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
444800 usd
us-gaap Lease Cost
LeaseCost
1161127 usd
us-gaap Lease Cost
LeaseCost
444800 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
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us-gaap Operating Lease Payments
OperatingLeasePayments
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us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
1169606 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
470381 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M24D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.108 pure
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
360339 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1553692 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P5Y4M24D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.108 pure
CY2024Q3 rebn Present Values
PresentValues
4165637 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1006603 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3159034 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
4165637 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1506703 usd
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
40000000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The shareholders of common stock shall be entitled to one vote per share and dividends declared by the Company’s Board of Directors.
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q2 rebn Percentage Of Voting Common Stock Outstanding
PercentageOfVotingCommonStockOutstanding
0.05 pure
CY2018Q2 rebn Percentage Ownership Of The Pre Merger Shareholders
PercentageOwnershipOfThePreMergerShareholders
0.05 pure
CY2018Q2 rebn Percentage Ownership Of The Pre Merger Shareholders
PercentageOwnershipOfThePreMergerShareholders
0.05 pure
us-gaap Net Income Loss
NetIncomeLoss
-3026904 usd
us-gaap Net Income Loss
NetIncomeLoss
-3006708 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2165841 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1652034 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2165841 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1652034 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.4
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.82
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.4
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.82
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-719748 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-748902 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2420628 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1654698 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2420628 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1654698 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.3
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.3
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.45
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 rebn Non Rule10b51 Arr Modified Flag
NonRule10b51ArrModifiedFlag
false
CY2024Q3 rebn Rule10b51 Arr Modified Flag
Rule10b51ArrModifiedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 rebn Loans Payable To Shareholders
LoansPayableToShareholders
usd
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
rebn Repayments Of Borrowings From Shareholder
RepaymentsOfBorrowingsFromShareholder
usd
rebn Proceeds Frm Loan Payable To Others
ProceedsFrmLoanPayableToOthers
usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
usd
us-gaap Proceeds From Issuance Of First Mortgage Bond
ProceedsFromIssuanceOfFirstMortgageBond
usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
usd
us-gaap Stock Issued1
StockIssued1
usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
usd
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
usd
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
usd
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
usd
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
usd
CY2024Q3 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
usd
CY2024Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2024Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
usd
CY2023Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001707910

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