2024 Q2 Form 10-Q Financial Statement

#000173112224000807 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.999M $6.452M $3.796M
YoY Change 69.45% 69.98% 36.04%
% of Gross Profit
Research & Development $434.5K $1.087M $239.1K
YoY Change -56.11% 354.62% -80.28%
% of Gross Profit
Depreciation & Amortization $31.13K $30.31K $28.24K
YoY Change 55.65% 7.3% -10.96%
% of Gross Profit
Operating Expenses $5.464M $17.19M $4.063M
YoY Change 37.64% 323.06% 0.72%
Operating Profit -$17.19M -$4.063M
YoY Change 323.06% 0.72%
Interest Expense -$1.685M $303.8K $122.3K
YoY Change 547.98% 148.43% -239.09%
% of Operating Profit
Other Income/Expense, Net $4.241M $166.4K -$264.9K
YoY Change -162.84% -87.26%
Pretax Income -$15.73M -$17.02M -$4.328M
YoY Change -32.19% 293.33% -30.21%
Income Tax
% Of Pretax Income
Net Earnings -$15.73M -$17.02M -$4.328M
YoY Change -32.19% 293.33% -30.21%
Net Earnings / Revenue
Basic Earnings Per Share -$0.16 -$0.08
Diluted Earnings Per Share -$0.11 -$0.16 -$0.08
COMMON SHARES
Basic Shares Outstanding 147.5M shares 143.7M shares 55.71M shares
Diluted Shares Outstanding 107.5M shares 55.97M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $220.5K $312.7K $2.948M
YoY Change -88.4% -89.39% -73.56%
Cash & Equivalents $220.5K $312.7K $2.948M
Short-Term Investments
Other Short-Term Assets $668.9K $907.2K $978.9K
YoY Change -4.44% -7.32% 79.7%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.998M $1.220M $3.927M
YoY Change -22.13% -68.93% -66.42%
LONG-TERM ASSETS
Property, Plant & Equipment $482.1K $488.9K $529.3K
YoY Change -5.28% -7.62% -71.68%
Goodwill $159.3M $164.2M $11.64M
YoY Change 1268.82% 1310.54%
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $160.6M $210.6M $74.27M
YoY Change 190.89% 183.5% 341549.26%
Total Long-Term Assets $161.1M $211.1M $74.80M
YoY Change 189.1% 182.15% -55.58%
TOTAL ASSETS
Total Short-Term Assets $1.998M $1.220M $3.927M
Total Long-Term Assets $161.1M $211.1M $74.80M
Total Assets $163.1M $212.3M $78.73M
YoY Change 179.81% 169.63% -56.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.449M $7.991M $4.471M
YoY Change 78.28% 78.71% 818.1%
Accrued Expenses $5.311M $3.755M $593.7K
YoY Change 634.45% 532.44% -20.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.451M $7.119M $6.001M
YoY Change -46.72% 18.64% 24.97%
Total Short-Term Liabilities $30.31M $20.87M $11.77M
YoY Change 174.97% 77.3% 56.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $231.4K $20.03M $829.2K
YoY Change 25.25% 2316.15% -92.69%
Total Long-Term Liabilities $842.4K $22.81M $829.2K
YoY Change 8.61% 2650.77% -92.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.31M $20.87M $11.77M
Total Long-Term Liabilities $842.4K $22.81M $829.2K
Total Liabilities $31.15M $43.68M $12.60M
YoY Change 164.03% 246.63% -33.17%
SHAREHOLDERS EQUITY
Retained Earnings -$324.7M -$274.8M -$220.8M
YoY Change 33.05% 24.42%
Common Stock $15.50K $14.75K $5.800K
YoY Change 143.35% 154.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $132.0M $168.6M $66.13M
YoY Change
Total Liabilities & Shareholders Equity $163.1M $212.3M $78.73M
YoY Change 179.81% 169.63% -56.29%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$15.73M -$17.02M -$4.328M
YoY Change -32.19% 293.33% -30.21%
Depreciation, Depletion And Amortization $31.13K $30.31K $28.24K
YoY Change 55.65% 7.3% -10.96%
Cash From Operating Activities -$2.414M -$2.634M -$3.308M
YoY Change 6.8% -20.38% 18.78%
INVESTING ACTIVITIES
Capital Expenditures $23.55K $5.300K $0.00
YoY Change 135.5%
Acquisitions
YoY Change
Other Investing Activities -$29.82K -$86.30K
YoY Change
Cash From Investing Activities -$53.37K -$91.60K $0.00
YoY Change 433.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.467M 2.641M 2.109M
YoY Change 97.34% 25.25% 818.67%
NET CHANGE
Cash From Operating Activities -2.414M -2.634M -3.308M
Cash From Investing Activities -53.37K -91.60K 0.000
Cash From Financing Activities 2.467M 2.641M 2.109M
Net Change In Cash -430.0 -84.36K -1.199M
YoY Change -99.96% -92.97% -53.07%
FREE CASH FLOW
Cash From Operating Activities -$2.414M -$2.634M -$3.308M
Capital Expenditures $23.55K $5.300K $0.00
Free Cash Flow -$2.437M -$2.639M -$3.308M
YoY Change 7.37% -20.22% 18.78%

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CY2022Q3 RENB Stock Issued Pursuant To Warrants Exercised Value
StockIssuedPursuantToWarrantsExercisedValue
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CY2022Q3 RENB Contingent Shares Issued Pursuant To Acquisition Agreement
ContingentSharesIssuedPursuantToAcquisitionAgreement
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CY2022Q3 us-gaap Share Based Compensation
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CY2022Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 RENB Shares Issued In Lieu Of Interest On Notes Payable Extension
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CY2022Q4 us-gaap Share Based Compensation
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CY2022Q4 us-gaap Net Income Loss
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CY2022Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2022Q4 us-gaap Stockholders Equity
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CY2023Q1 RENB Shares And Warrants Issued Pursuant To Private Placement Offering
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2483000 usd
CY2023Q1 RENB Restricted Shares Issued For Services Rendered Value
RestrictedSharesIssuedForServicesRenderedValue
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CY2023Q1 us-gaap Share Based Compensation
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CY2023Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Depreciation And Amortization
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us-gaap Depreciation And Amortization
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RENB Change In Fair Value Of Contingent Consideration
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486500 usd
RENB Change In Fair Value Of Contingent Consideration
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RENB Loss On Extinguishment Of Debt
LossOnExtinguishmentOfDebt
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RENB Loss On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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RENB Non Cash Compensation
NonCashCompensation
3844658 usd
RENB Non Cash Compensation
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
8421000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
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RENB Restricted Shares For Services Rendered
RestrictedSharesForServicesRendered
4570000 usd
RENB Restricted Shares For Services Rendered
RestrictedSharesForServicesRendered
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RENB Amortization Of Discount On Note Payable
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RENB Amortization Of Discount On Note Payable
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us-gaap Increase Decrease In Accounts And Other Receivables
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us-gaap Increase Decrease In Accounts And Other Receivables
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Other Accrued Liabilities
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us-gaap Increase Decrease In Other Accrued Liabilities
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us-gaap Increase Decrease In Other Current Liabilities
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us-gaap Increase Decrease In Other Current Liabilities
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Notes Receivable
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us-gaap Payments To Acquire Notes Receivable
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us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
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us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
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-1206806 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Proceeds From Issuance Of Debt
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RENB Repayment Of Finance Agreement
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646128 usd
RENB Repayment Of Finance Agreement
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us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
3000000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
2483000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1710000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
341865 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
1625000 usd
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1874480 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
312697 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2948042 usd
us-gaap Interest Paid Net
InterestPaidNet
12692 usd
us-gaap Interest Paid Net
InterestPaidNet
43627 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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RENB Finance Agreement Entered Into In Exchange For Prepaid Assets
FinanceAgreementEnteredIntoInExchangeForPrepaidAssets
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RENB Finance Agreement Entered Into In Exchange For Prepaid Assets
FinanceAgreementEnteredIntoInExchangeForPrepaidAssets
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RENB Shares In Lieu Of Interest On Million Notes Payable Extension
SharesInLieuOfInterestOnMillionNotesPayableExtension
0 usd
RENB Shares In Lieu Of Interest On Million Notes Payable Extension
SharesInLieuOfInterestOnMillionNotesPayableExtension
204392 usd
RENB Common Shares Issued For Contingent Earn Out Liability
CommonSharesIssuedForContingentEarnOutLiability
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RENB Common Shares Issued For Contingent Earn Out Liability
CommonSharesIssuedForContingentEarnOutLiability
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RENB Conversion Of Note Payable For Issuance Of Preferred Stock
ConversionOfNotePayableForIssuanceOfPreferredStock
2000001 usd
RENB Conversion Of Note Payable For Issuance Of Preferred Stock
ConversionOfNotePayableForIssuanceOfPreferredStock
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RENB Common Shares Issued Upon Acquisition
CommonSharesIssuedUponAcquisition
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RENB Common Shares Issued Upon Acquisition
CommonSharesIssuedUponAcquisition
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RENB Contingent Consideration Issued Upon Acquisition
ContingentConsiderationIssuedUponAcquisition
20557500 usd
RENB Contingent Consideration Issued Upon Acquisition
ContingentConsiderationIssuedUponAcquisition
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RENB Note Payable Settled Through Noncash Exercise Of Warrants
NotePayableSettledThroughNoncashExerciseOfWarrants
2000000 usd
RENB Note Payable Settled Through Noncash Exercise Of Warrants
NotePayableSettledThroughNoncashExerciseOfWarrants
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RENB Debt Discount Related To Convertible Promissory Notes
DebtDiscountRelatedToConvertiblePromissoryNotes
301841 usd
RENB Debt Discount Related To Convertible Promissory Notes
DebtDiscountRelatedToConvertiblePromissoryNotes
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us-gaap Use Of Estimates
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<p id="xdx_84F_eus-gaap--UseOfEstimates_z88u4w3CaEm3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><b><span id="xdx_862_z5kSJPu3qbC8">Accounting Estimates</span> –</b> 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, the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimated. Significant estimates include the fair value of assets acquired in a business acquisition, contingent consideration, and equity instruments issued for goods or services.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"> </p>
us-gaap Concentration Risk Credit Risk
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<p id="xdx_84D_eus-gaap--ConcentrationRiskCreditRisk_zxt4qLgRzvYg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><b><span id="xdx_862_z6UZRiCn9452">Concentration of Credit Risk</span> –</b> Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in financial institutions, which, at times, exceed the amount of deposit insurance provided within the relevant jurisdiction where the deposits are held. As of March 31, 2024 and June 30, 2023, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"> </p>
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1087156 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2274321 usd
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
239137 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3170471 usd
CY2024Q1 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
1861601 usd
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
3844658 usd
CY2023Q1 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
1076203 usd
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
2922166 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-17024414 usd
us-gaap Net Income Loss
NetIncomeLoss
-30728563 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
312697 usd
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-274757816 usd
CY2024Q1 RENB Working Capital Deficit
WorkingCapitalDeficit
19654098 usd
RENB Issuance Of Common Stock Pursuant To Acquisition Of Gedi Cube Share
IssuanceOfCommonStockPursuantToAcquisitionOfGediCubeShare
70834183 shares
CY2024Q1 us-gaap Asset Acquisition Contingent Consideration Liability
AssetAcquisitionContingentConsiderationLiability
20557500 usd
CY2024Q1 RENB Share Acquisition Contingent Consideration
ShareAcquisitionContingentConsideration
8474146 shares
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1036909 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
973788 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
547994 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
464799 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
488915 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
508989 usd
CY2024Q1 us-gaap Depreciation
Depreciation
29526 usd
us-gaap Depreciation
Depreciation
83203 usd
CY2023Q1 us-gaap Depreciation
Depreciation
26662 usd
us-gaap Depreciation
Depreciation
80915 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
31042 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
39676 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
779 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7524 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1580 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4572 usd
CY2023Q2 RENB Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
39676 usd
us-gaap Finite Lived Intangible Assets Period Increase Decrease
FiniteLivedIntangibleAssetsPeriodIncreaseDecrease
0 usd
RENB Net Definitelife Intangible Assets Amortization
NetDefinitelifeIntangibleAssetsAmortization
-7524 usd
RENB Net Definitelife Intangible Assets Impairment
NetDefinitelifeIntangibleAssetsImpairment
0 usd
us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-1110 usd
CY2024Q1 RENB Finite Lived Intangible Asset Net
FiniteLivedIntangibleAssetNet
31042 usd
CY2023Q2 us-gaap Other Indefinite Lived Intangible Assets
OtherIndefiniteLivedIntangibleAssets
54251000 usd
RENB Total Indefinite Life Intangible Assets And Goodwill Additions
TotalIndefiniteLifeIntangibleAssetsAndGoodwillAdditions
162220535 usd
RENB Total Indefinite Life Intangible Assets And Goodwill Amortization
TotalIndefiniteLifeIntangibleAssetsAndGoodwillAmortization
0 usd
RENB Total Indefinite Life Intangible Assets And Goodwill Impairment
TotalIndefiniteLifeIntangibleAssetsAndGoodwillImpairment
-8421000 usd
RENB Total Indefinite Life Intangible Assets And Goodwill Translation Adjustment
TotalIndefiniteLifeIntangibleAssetsAndGoodwillTranslationAdjustment
1081572 usd
CY2024Q1 us-gaap Other Indefinite Lived Intangible Assets
OtherIndefiniteLivedIntangibleAssets
209132107 usd
CY2023Q2 us-gaap Liabilities Subject To Compromise Early Contract Termination Fees
LiabilitiesSubjectToCompromiseEarlyContractTerminationFees
175000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1942 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9700 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
9700 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9700 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
31042 usd
CY2017Q4 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
On November 13, 2017, Renovaro entered into a Lease Agreement for a term of five years and two months from November 1, 2017, with Plaza Medical Office Building, LLC, a California limited liability company, as landlord, (the “Landlord”) pursuant to which the Company agreed to lease from the Landlord approximately 2,325 rentable square feet. The base rent increased by 3% each year and ranged from approximately $8,719 per month for the first year to $10,107 per month for the two months of the sixth year. The lease was terminated early without penalties or additional costs as of September 30, 2022, that released an accrual of $70,800 related to leasehold improvements that was not utilized.
CY2018Q2 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
On June 19, 2018, Renovaro entered into a Lease Agreement for a term of ten years from September 1, 2018, with Century City Medical Plaza Land Co., Inc., pursuant to which the Company agreed to lease approximately 2,453 rentable square feet. On February 20, 2019, Renovaro entered into an Addendum to the original Lease Agreement with an effective date of December 1, 2019, where it expanded the lease area to include another 1,101 square feet for a total rentable 3,554 square feet. The base rent increases by 3% each year, and ranges from $17,770 per month for the first year to $23,186 per month for the tenth year. The equalized monthly lease payment for the term of the lease is $20,050.
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M7D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0516 pure
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
286252 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
557851 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
349204 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
309491 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
59439 usd
CY2024Q1 RENB Lessee Operating Lease Liability Sub Total Amount
LesseeOperatingLeaseLiabilitySubTotalAmount
-1562237 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
108658 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1453579 usd
CY2022Q2 us-gaap Lessee Finance Sublease Residual Value Guarantee Description
LesseeFinanceSubleaseResidualValueGuaranteeDescription
On June 20, 2022, the Company entered into a sublease Agreement with One Health Labs (the “Subtenant”), whereby the Subtenant agreed to lease 3,554 square feet of space currently rented by the Company in Century City Medical Plaza as of June 25, 2022, for a period of 3.5 years with an option to renew for the remaining term of the lease that ends as of June 19, 2028. The base rent was $17,770 per month plus $750 towards utility fees that are part of the original lease agreement and would increase by 3% each year over the term of the sublease. The Company received a total of $57,022 on July 1, 2022 after execution of the sublease to cover the first month rent, utility fee and deposit. The first sublease payment began on August 1, 2022.
CY2023Q2 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
139460 usd
CY2023Q2 us-gaap Security Deposit
SecurityDeposit
35540 usd
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
106790 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
99099 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
236455 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
239759 usd
CY2024Q1 us-gaap Sublease Income
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-0 usd
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
53310 usd
us-gaap Sublease Income
SubleaseIncome
-0 usd
us-gaap Sublease Income
SubleaseIncome
159930 usd
CY2024Q1 RENB Operating Leases Rent Expenses Net
OperatingLeasesRentExpensesNet
-106790 usd
CY2023Q1 RENB Operating Leases Rent Expenses Net
OperatingLeasesRentExpensesNet
-45789 usd
RENB Operating Leases Rent Expenses Net
OperatingLeasesRentExpensesNet
-236455 usd
RENB Operating Leases Rent Expenses Net
OperatingLeasesRentExpensesNet
-79829 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
108441 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
232237 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
98950 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
339993 usd
RENB Operating Lease Expenses
OperatingLeaseExpenses
79829 usd
CY2023Q1 RENB Cash Paid For The Termination Of Lease
CashPaidForTheTerminationOfLease
339993 usd
RENB Accrual Payments Related To Termination Of Lease
AccrualPaymentsRelatedToTerminationOfLease
77242 usd
RENB Repayment On Finance Agreement
RepaymentOnFinanceAgreement
646128 usd
CY2024Q1 us-gaap Interest Expense Other
InterestExpenseOther
303802 usd
us-gaap Interest Expense Other
InterestExpenseOther
758057 usd
CY2023Q1 us-gaap Interest Expense Other
InterestExpenseOther
122289 usd
us-gaap Interest Expense Other
InterestExpenseOther
310766 usd
CY2024Q1 RENB Common Stocks Shares Authorized
CommonStocksSharesAuthorized
350000000 shares
CY2023Q2 RENB Common Stocks Shares Authorized
CommonStocksSharesAuthorized
350000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
147488598 shares
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
147488598 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
63698144 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
63698144 shares
CY2022Q2 us-gaap Purchase Obligation
PurchaseObligation
20000000 usd
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
525945 shares
CY2023Q4 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
341865 usd
CY2024Q1 RENB Issuance Of Common Stock Under Private Placement Offering
IssuanceOfCommonStockUnderPrivatePlacementOffering
344827 usd
CY2024Q1 RENB Common Stock Par Value Private Placement
CommonStockParValuePrivatePlacement
0.0001
CY2024Q1 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
1000000 usd
CY2024Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
50000 shares
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17414 shares
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
17414 shares
CY2024Q1 us-gaap Stock Issued During Period Shares Period Increase Decrease
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0 shares
us-gaap Stock Issued During Period Shares Period Increase Decrease
StockIssuedDuringPeriodSharesPeriodIncreaseDecrease
0 shares
us-gaap Allocated Share Based Compensation Expense
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579305 usd
CY2019Q4 RENB Upfront Payment
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10000000 usd
CY2019Q4 RENB Payment For Expenditures
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760000 usd
CY2021Q3 RENB Initial Payment
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CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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17414 shares
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
0 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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false
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false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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