$REVB
REVELATION BIOSCIENCES, INC.

2024 Q1 Form 10-K Financial Statement

#000095017024035322 Filed on March 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.185M $1.266M $4.511M
YoY Change 8.22% 44.12% -17.79%
% of Gross Profit
Research & Development $717.6K $1.060M $4.146M
YoY Change 36.61% 211.79% -22.9%
% of Gross Profit
Depreciation & Amortization $6.262K $5.050K $25.05K
YoY Change -0.02% -19.33% 0.0%
% of Gross Profit
Operating Expenses $1.902M $2.326M $8.657M
YoY Change 17.43% 90.91% -20.32%
Operating Profit -$1.902M -$8.657M
YoY Change 17.43% -20.32%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$779.3K $123.0K $8.536M
YoY Change -110.02% 1045.16% 24316.25%
Pretax Income -$2.681M -$2.203M -$120.3K
YoY Change -143.54% 82.42% -98.89%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.700M -$2.203M -$100.0K
YoY Change -143.84% 82.42% -99.07%
Net Earnings / Revenue
Basic Earnings Per Share -$2.46 -$0.53
Diluted Earnings Per Share -$2.46 -$9.64 -$0.53
COMMON SHARES
Basic Shares Outstanding 1.633M 6.297M 228.6K
Diluted Shares Outstanding 1.090M 228.6K

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.55M $11.99M $11.99M
YoY Change -17.8% 128.28% 128.28%
Cash & Equivalents $14.60M $12.00M $11.99M
Short-Term Investments
Other Short-Term Assets $71.88K $155.8K $155.8K
YoY Change -78.37% -2.79% -2.79%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $14.62M $12.15M $12.15M
YoY Change -18.92% 124.4% 124.4%
LONG-TERM ASSETS
Property, Plant & Equipment $77.99K $65.08K $65.08K
YoY Change -7.01% -27.79% -27.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $77.99K $65.08K $65.08K
YoY Change -7.01% -27.79% -27.8%
TOTAL ASSETS
Total Short-Term Assets $14.62M $12.15M $12.15M
Total Long-Term Assets $77.99K $65.08K $65.08K
Total Assets $14.70M $12.21M $12.21M
YoY Change -18.86% 121.91% 121.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.682M $1.360M $1.360M
YoY Change 138.5% 145.38% 145.38%
Accrued Expenses $620.3K $1.152M $1.152M
YoY Change -36.31% 16.94% 16.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.228M $5.565M $5.565M
YoY Change -35.46% 25.03% 25.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.228M $5.565M $5.565M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $5.228M $5.565M $5.565M
YoY Change -35.46% 25.03% 25.03%
SHAREHOLDERS EQUITY
Retained Earnings -$28.10M -$25.50M
YoY Change 46.35% 0.79%
Common Stock $1.633K $265.00
YoY Change -65.48% -61.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.500M $6.600M $6.648M
YoY Change
Total Liabilities & Shareholders Equity $14.70M $12.21M $12.21M
YoY Change -18.86% 121.91% 121.91%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$2.700M -$2.203M -$100.0K
YoY Change -143.84% 82.42% -99.07%
Depreciation, Depletion And Amortization $6.262K $5.050K $25.05K
YoY Change -0.02% -19.33% 0.0%
Cash From Operating Activities -$2.838M -$2.006M -$7.286M
YoY Change 80.17% 111.75% -35.06%
INVESTING ACTIVITIES
Capital Expenditures $19.17K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$19.17K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.417M -4.990K 14.03M
YoY Change -61.37% -199.8% -7.72%
NET CHANGE
Cash From Operating Activities -2.838M -2.006M -7.286M
Cash From Investing Activities -19.17K
Cash From Financing Activities 5.417M -4.990K 14.03M
Net Change In Cash 2.560M -2.011M 6.739M
YoY Change -79.44% 113.41% 69.39%
FREE CASH FLOW
Cash From Operating Activities -$2.838M -$2.006M -$7.286M
Capital Expenditures $19.17K
Free Cash Flow -$2.857M
YoY Change 81.39%

Facts In Submission

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REVELATION BIOSCIENCES, INC.
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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the consolidated financial statements in accordance with GAAP requires management to make estimat</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">es 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 consolidated financial statements.</span></p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span></p><p style="text-indent:6.667%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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>
CY2023Q4 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
38959
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22025
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
90133
CY2023 us-gaap Depreciation
Depreciation
25049
CY2022 us-gaap Depreciation
Depreciation
25048
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q4 revb Prepaid Clinical Costs Current
PrepaidClinicalCostsCurrent
55215
CY2023Q4 revb Other Prepaid Expense And Current Assets
OtherPrepaidExpenseAndCurrentAssets
29476
CY2022Q4 revb Other Prepaid Expense And Current Assets
OtherPrepaidExpenseAndCurrentAssets
73132
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
84691
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
73132
CY2023Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
131963
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
131963
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
131963
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
131963
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
66879
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
41830
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
65084
CY2023Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
768720
CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
618014
CY2023Q4 revb Accrued Clinical Study Expenses
AccruedClinicalStudyExpenses
10268
CY2022Q4 revb Accrued Clinical Study Expenses
AccruedClinicalStudyExpenses
175061
CY2023Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
219888
CY2022Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
75722
CY2023Q4 revb Accrued Clinical Development Costs
AccruedClinicalDevelopmentCosts
153584
CY2022Q4 revb Accrued Clinical Development Costs
AccruedClinicalDevelopmentCosts
111700
CY2023Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
0
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
5000
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1152460
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
985497
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
5000
CY2023Q1 revb Lessee Operating Lease Liability Base Monthly Rent
LesseeOperatingLeaseLiabilityBaseMonthlyRent
9630
CY2021Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
5564
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
111661
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
66645
CY2022Q1 revb Common Stock Transferred
CommonStockTransferred
201
CY2022 revb Interest Incurred
InterestIncurred
14383
CY2022Q1 us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
5300000
CY2022Q1 revb Deferred Underwriting Commissions
DeferredUnderwritingCommissions
1500000
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1600000
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
77375
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
77375
CY2023 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2022Q1 us-gaap Proceeds From Previous Acquisition
ProceedsFromPreviousAcquisition
11900000
CY2022Q1 revb Escrowed Amount
EscrowedAmount
7700000
CY2022Q1 revb Released Amount
ReleasedAmount
4200000
CY2022Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
7937
CY2022Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
4500000
CY2022Q3 revb Percentage Of Placement Agent Cash Fee On Gross Proceeds Received
PercentageOfPlacementAgentCashFeeOnGrossProceedsReceived
0.07
CY2022Q3 revb Placement Agent Cash Fee Amount
PlacementAgentCashFeeAmount
350000
CY2023Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
96287
CY2023Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
14000000
CY2023Q1 revb Percentage Of Placement Agent Cash Fee On Gross Proceeds Received
PercentageOfPlacementAgentCashFeeOnGrossProceedsReceived
0.08
CY2023Q1 revb Placement Agent Cash Fee Amount
PlacementAgentCashFeeAmount
1200000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023 revb Class Of Warrant Or Right For Issuing Description
ClassOfWarrantOrRightForIssuingDescription
October of 2020, Petra issued unit's that consisted of one share of common stock and one warrant exercisable for 1/1,050 of a share of common stock with an exercise price of $12,075.00 per share which expire on January 10, 2027 (the “Public Warrants”), which traded on the Nasdaq Capital Market under the ticker symbol REVBU.
CY2023Q1 revb Number Of Units Seperation
NumberOfUnitsSeperation
1688598
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
264537
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
264537
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
59425
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
23982
CY2022Q1 revb Percentage Of Aggregate Number Of Outstanding Shares Of Common Stock
PercentageOfAggregateNumberOfOutstandingSharesOfCommonStock
0.10
CY2023 revb Weighted Average Black Scholes Value Per Stock Option
WeightedAverageBlackScholesValuePerStockOption
314.03
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
155721
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
301116
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.072
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.072
CY2023 revb Effective Income Tax Reconciliation Non Taxable Change In Fair Value Of Warrant Liability
EffectiveIncomeTaxReconciliationNonTaxableChangeInFairValueOfWarrantLiability
19.532
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.378
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.006
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-20.192
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.288
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7281811
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5511086
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
370145
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
324661
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
1716037
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
1429419
CY2023Q4 revb Deferred Tax Assets Capitalized Start Up Cost
DeferredTaxAssetsCapitalizedStartUpCost
799367
CY2022Q4 revb Deferred Tax Assets Capitalized Start Up Cost
DeferredTaxAssetsCapitalizedStartUpCost
860853
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
336564
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
373964
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
10503924
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
8499983
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10503924
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
8499983
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10503924
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
8499983
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2003941
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
4012802
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3398
CY2023Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
71133
CY2023Q3 revb Number Of Consecutive Business Days
NumberOfConsecutiveBusinessDays
30

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