$REVB
REVELATION BIOSCIENCES, INC.

2024 Q2 Form 10-Q Financial Statement

#000095017024057787 Filed on May 10, 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 $1.127M $1.185M $1.095M
YoY Change 10.13% 8.22% -62.33%
% of Gross Profit
Research & Development $1.395M $717.6K $525.3K
YoY Change 53.41% 36.61% -85.73%
% of Gross Profit
Depreciation & Amortization $7.220K $6.262K $6.263K
YoY Change 15.3% -0.02% 0.02%
% of Gross Profit
Operating Expenses $2.522M $1.902M $1.620M
YoY Change 30.49% 17.43% -75.41%
Operating Profit -$2.522M -$1.902M -$1.620M
YoY Change 30.49% 17.43% -75.41%
Interest Expense $7.745M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$5.867M -$779.3K $7.779M
YoY Change -1310.13% -110.02% -25823.49%
Pretax Income -$8.390M -$2.681M $6.159M
YoY Change 479.34% -143.54% -193.09%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$8.390M -$2.700M $6.159M
YoY Change 479.34% -143.84% -193.09%
Net Earnings / Revenue
Basic Earnings Per Share -$5.13 -$2.46 $2.79
Diluted Earnings Per Share -$5.13 -$2.46 $1.96
COMMON SHARES
Basic Shares Outstanding 1.633M 1.633M 4.512M
Diluted Shares Outstanding 1.635M 1.090M 3.136M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.07M $14.55M $17.70M
YoY Change -23.16% -17.8% 146.34%
Cash & Equivalents $12.10M $14.60M $17.70M
Short-Term Investments
Other Short-Term Assets $125.7K $71.88K $332.4K
YoY Change -49.71% -78.37% -51.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $12.20M $14.62M $18.04M
YoY Change -23.57% -18.92% 129.13%
LONG-TERM ASSETS
Property, Plant & Equipment $70.77K $77.99K $83.87K
YoY Change -8.81% -7.01% -23.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $70.77K $77.99K $83.87K
YoY Change -8.81% -7.01% -23.0%
TOTAL ASSETS
Total Short-Term Assets $12.20M $14.62M $18.04M
Total Long-Term Assets $70.77K $77.99K $83.87K
Total Assets $12.27M $14.70M $18.12M
YoY Change -23.5% -18.86% 127.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.281M $1.682M $705.1K
YoY Change 40.21% 138.5% -51.73%
Accrued Expenses $8.454M $620.3K $973.9K
YoY Change 1601.48% -36.31% -73.72%
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 $11.13M $5.228M $8.101M
YoY Change 140.68% -35.46% 0.28%
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 $11.13M $5.228M $8.101M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $11.13M $5.228M $8.101M
YoY Change 140.68% -35.46% 0.28%
SHAREHOLDERS EQUITY
Retained Earnings -$36.50M -$28.10M -$19.20M
YoY Change 77.18% 46.35% -9.0%
Common Stock $1.643K $1.633K $4.730K
YoY Change -73.91% -65.48% -68.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.100M $9.500M $10.00M
YoY Change
Total Liabilities & Shareholders Equity $12.27M $14.70M $18.12M
YoY Change -23.5% -18.86% 127.06%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$8.390M -$2.700M $6.159M
YoY Change 479.34% -143.84% -193.09%
Depreciation, Depletion And Amortization $7.220K $6.262K $6.263K
YoY Change 15.3% -0.02% 0.02%
Cash From Operating Activities -$2.479M -$2.838M -$1.575M
YoY Change 24.45% 80.17% -67.39%
INVESTING ACTIVITIES
Capital Expenditures -$30.00 $19.17K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $30.00 -$19.17K $0.00
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 -20.00 5.417M 14.02M
YoY Change -200.0% -61.37% 30.57%
NET CHANGE
Cash From Operating Activities -2.479M -2.838M -1.575M
Cash From Investing Activities 30.00 -19.17K 0.000
Cash From Financing Activities -20.00 5.417M 14.02M
Net Change In Cash -2.479M 2.560M 12.45M
YoY Change 24.45% -79.44% 110.6%
FREE CASH FLOW
Cash From Operating Activities -$2.479M -$2.838M -$1.575M
Capital Expenditures -$30.00 $19.17K $0.00
Free Cash Flow -$2.479M -$2.857M -$1.575M
YoY Change 81.39% -67.39%

Facts In Submission

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<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>
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
66879
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
77994
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
65084
CY2024Q1 us-gaap Depreciation
Depreciation
6262
CY2023Q1 us-gaap Depreciation
Depreciation
6263
CY2024Q1 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
242841
CY2023Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
768720
CY2024Q1 revb Accrued Clinical Study Expenses
AccruedClinicalStudyExpenses
56414
CY2023Q4 revb Accrued Clinical Study Expenses
AccruedClinicalStudyExpenses
10268
CY2024Q1 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
225137
CY2023Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
219888
CY2024Q1 revb Accrued Clinical Development Costs
AccruedClinicalDevelopmentCosts
95888
CY2023Q4 revb Accrued Clinical Development Costs
AccruedClinicalDevelopmentCosts
153584
CY2024Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
5564
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
16050
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
24991
CY2022Q1 us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
5300000
CY2022Q1 revb Deferred Underwriting Commissions
DeferredUnderwritingCommissions
1500000
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
CY2024Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
128470
CY2024Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
5400000
CY2024Q1 revb Percentage Of Placement Agent Cash Fee On Gross Proceeds Received
PercentageOfPlacementAgentCashFeeOnGrossProceedsReceived
0.08
CY2024Q1 revb Placement Agent Cash Fee Amount
PlacementAgentCashFeeAmount
500000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1632935
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1632935
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
264537
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
264537
CY2024Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
50932
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
163287
CY2022Q1 revb Percentage Of Aggregate Number Of Outstanding Shares Of Common Stock
PercentageOfAggregateNumberOfOutstandingSharesOfCommonStock
0.10
CY2024Q1 revb Weighted Average Black Scholes Value Per Stock Option
WeightedAverageBlackScholesValuePerStockOption
314.03
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32094
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32095
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2024Q1 revb Non Taxable Income From Fair Value Change Of Warrant Liability
NonTaxableIncomeFromFairValueChangeOfWarrantLiability
100000
CY2023Q1 revb Non Taxable Income From Fair Value Change Of Warrant Liability
NonTaxableIncomeFromFairValueChangeOfWarrantLiability
7700000

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