$REVB
REVELATION BIOSCIENCES, INC.

2022 Q4 Form 10-Q Financial Statement

#000095017022024436 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $878.4K $817.9K $844.5K
YoY Change -5.84% -3.15% 96972.41%
% of Gross Profit
Research & Development $340.0K $381.6K $1.533M
YoY Change -87.25% -75.11% 240.62%
% of Gross Profit
Depreciation & Amortization $6.260K $6.262K $6.071K
YoY Change 0.0% 3.15%
% of Gross Profit
Operating Expenses $1.218M $1.199M $844.5K
YoY Change 30.61% 42.03% 96972.41%
Operating Profit -$1.199M -$3.044M
YoY Change -60.6%
Interest Expense $1.850K
YoY Change
% of Operating Profit
Other Income/Expense, Net $10.74K $28.73K $85.04K
YoY Change -104.35% -66.22%
Pretax Income -$1.208M -$1.171M -$757.6K
YoY Change -1.02% 54.52% 86985.06%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.208M -$1.171M -$757.6K
YoY Change -1.02% 54.52% 86985.06%
Net Earnings / Revenue
Basic Earnings Per Share -$0.06 -$0.48
Diluted Earnings Per Share -$1.69 -$0.06 -$416.4K
COMMON SHARES
Basic Shares Outstanding 23.54M 23.42M 6.292M
Diluted Shares Outstanding 21.06M 6.292M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.253M $6.195M $19.75K
YoY Change 6589.14% 31269.37% -99.41%
Cash & Equivalents $5.300M $6.200M
Short-Term Investments $19.75K
Other Short-Term Assets $160.3K $309.6K $19.33K
YoY Change 3218.84% 1501.81% -89.13%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $5.413M $6.505M $39.08K
YoY Change 183.11% 16545.53% -98.88%
LONG-TERM ASSETS
Property, Plant & Equipment $90.13K $96.40K $167.2K
YoY Change -21.75% -42.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $73.52M
YoY Change
Total Long-Term Assets $90.13K $96.40K $73.52M
YoY Change -30.74% -99.87%
TOTAL ASSETS
Total Short-Term Assets $5.413M $6.505M $39.08K
Total Long-Term Assets $90.13K $96.40K $73.52M
Total Assets $5.503M $6.601M $73.56M
YoY Change 169.48% -91.03% 2002.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $554.2K $466.1K $1.031M
YoY Change -7.05% -54.8%
Accrued Expenses $985.5K $1.600M $1.183M
YoY Change -35.53% 35.22% 1831.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.451M $4.374M $3.738M
YoY Change 107.83% 17.02% 1011.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.911M
YoY Change -7.58%
Total Long-Term Liabilities $0.00 $0.00 $2.911M
YoY Change -100.0% -100.0% -7.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.451M $4.374M $3.738M
Total Long-Term Liabilities $0.00 $0.00 $2.911M
Total Liabilities $4.451M $4.374M $6.649M
YoY Change 107.83% -34.22% 90.71%
SHAREHOLDERS EQUITY
Retained Earnings -$25.30M -$24.10M
YoY Change 74.27%
Common Stock $683.00 $23.54K
YoY Change -70.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.100M $2.200M $66.91M
YoY Change
Total Liabilities & Shareholders Equity $5.503M $6.601M $73.56M
YoY Change 169.48% -91.03% 2002.15%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$1.208M -$1.171M -$757.6K
YoY Change -1.02% 54.52% 86985.06%
Depreciation, Depletion And Amortization $6.260K $6.262K $6.071K
YoY Change 0.0% 3.15%
Cash From Operating Activities -$947.5K -$1.731M -$282.0K
YoY Change 319.79% 514.04% 3197.89%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$148.1K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $282.0K
YoY Change
Cash From Investing Activities $0.00 $0.00 $282.0K
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.000K 4.451M 0.000
YoY Change -100.02% -100.0%
NET CHANGE
Cash From Operating Activities -947.5K -1.731M -282.0K
Cash From Investing Activities 0.000 0.000 282.0K
Cash From Financing Activities 5.000K 4.451M 0.000
Net Change In Cash -942.5K 2.720M -10.00
YoY Change -1299.99% -27196400.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$947.5K -$1.731M -$282.0K
Capital Expenditures $0.00 $0.00 -$148.1K
Free Cash Flow -$947.5K -$1.731M -$133.8K
YoY Change 291.74% 1193.55% 1465.5%

Facts In Submission

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REVELATION BIOSCIENCES, INC.
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4660 La Jolla Village Drive
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us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions about future events that affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of expenses. These estimates and assumptions are based on the Company’s best estimates and judgment. The Company regularly evaluates its estimates and assumptions using historical and industry experience and other factors; however, actual results could differ materially from these estimates and could have an adverse effect on the Company’s condensed consolidated financial statements.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and cash equivalents. Bank deposits are held by accredited financial institutions and these deposits may at times be in excess of federally insured limits. The Company limits its credit risk associated with cash and cash equivalents by placing them with financial institutions that it believes are of high quality. The Company has not experienced any losses on its deposits of cash or cash equivalents.</span></p>
us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
167867
CY2022Q1 us-gaap Common Unit Issued
CommonUnitIssued
12944213
CY2022Q1 us-gaap Common Unit Outstanding
CommonUnitOutstanding
1294421
CY2022Q1 revb Aggregate Shares Of Common Stock
AggregateSharesOfCommonStock
3072870
CY2022Q1 us-gaap Shares Issued
SharesIssued
3480692
CY2022Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23152401
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4207776
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q1 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
10.20
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
35500000
CY2022Q1 revb Escrowed Amount
EscrowedAmount
7700000
CY2022Q1 revb Released Amount
ReleasedAmount
4200000
CY2021Q4 revb Prepaid Clinical Costs Current
PrepaidClinicalCostsCurrent
488614
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
206270
CY2022Q3 revb Other Prepaid Expense And Current Assets
OtherPrepaidExpenseAndCurrentAssets
103358
CY2021Q4 revb Other Prepaid Expense And Current Assets
OtherPrepaidExpenseAndCurrentAssets
148728
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
309628
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
637342
CY2022Q3 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
131962
CY2021Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
131963
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
131962
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
131963
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
35567
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16782
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
96395
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
115181
CY2022Q3 us-gaap Depreciation
Depreciation
6262
us-gaap Depreciation
Depreciation
18786
CY2021Q3 us-gaap Depreciation
Depreciation
6071
us-gaap Depreciation
Depreciation
10520
CY2022Q3 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
678452
CY2021Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
756729
CY2022Q3 revb Accrued Clinical Study Expenses
AccruedClinicalStudyExpenses
109483
CY2021Q4 revb Accrued Clinical Study Expenses
AccruedClinicalStudyExpenses
327244
CY2022Q3 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
40614
CY2021Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
294130
CY2022Q3 revb Accrued Clinical Development Costs
AccruedClinicalDevelopmentCosts
90000
CY2021Q4 revb Accrued Clinical Development Costs
AccruedClinicalDevelopmentCosts
145566
CY2022Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
4565
CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
5000
CY2022Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
996447
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1528669
CY2022Q3 revb Number Of Employees Released From Accrued Expense
NumberOfEmployeesReleasedFromAccruedExpense
9
CY2022Q3 revb Accrued Annual Corporate Bonus Expense
AccruedAnnualCorporateBonusExpense
400000
revb Accrued Annual Corporate Bonus Expense
AccruedAnnualCorporateBonusExpense
400000
CY2021Q4 revb Accrual Payroll And Related Expenses
AccrualPayrollAndRelatedExpenses
400000
CY2022Q2 revb Accrual Payroll And Related Expenses
AccrualPayrollAndRelatedExpenses
400000
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
300000
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
700000
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
17193
us-gaap Operating Lease Expense
OperatingLeaseExpense
49453
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
15067
us-gaap Operating Lease Expense
OperatingLeaseExpense
40179
CY2022Q1 revb Common Stock Transferred
CommonStockTransferred
245019
CY2022Q3 revb Interest Incurred
InterestIncurred
0
revb Interest Incurred
InterestIncurred
14383
CY2022Q1 us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
2700000
CY2022Q1 revb Noninterest Expense Investment Advisory Fees In Form Of Equity
NoninterestExpenseInvestmentAdvisoryFeesInFormOfEquity
2600000
CY2022Q1 revb Transaction Expenses
TransactionExpenses
8500000
CY2022Q1 revb Deferred Underwriting Fees
DeferredUnderwritingFees
1500000
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1600000
CY2022Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
8333334
CY2022Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.60
CY2022Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
4500000
CY2022Q3 revb Percentage Of Placement Agent Cash Fee On Gross Proceeds Received
PercentageOfPlacementAgentCashFeeOnGrossProceedsReceived
0.070
CY2022Q3 revb Placement Agent Cash Fee Amount
PlacementAgentCashFeeAmount
350000
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
revb Public Warrants Outstanding
PublicWarrantsOutstanding
1760285
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
29977303
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
6292140
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6100000
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
37000
CY2022Q1 us-gaap Proceeds From Previous Acquisition
ProceedsFromPreviousAcquisition
11900000
CY2022Q1 revb Escrowed Amount
EscrowedAmount
7700000
CY2022Q1 revb Released Amount
ReleasedAmount
4200000
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
23536070
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23536070
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2308877
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2308877
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
24094509
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
4207776
CY2022Q1 revb Percentage Of Aggregate Number Of Outstanding Shares Of Common Stock
PercentageOfAggregateNumberOfOutstandingSharesOfCommonStock
0.10
CY2022Q1 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
2.725
revb Weighted Average Black Scholes Value Per Stock Option
WeightedAverageBlackScholesValuePerStockOption
0.74
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40675
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
131320
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
268755
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
364966
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0

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0000950170-22-024436.txt Edgar Link pending
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revb-20220930_htm.xml Edgar Link completed