10-Q Filing

ENVERIC BIOSCIENCES, INC. CIK: 890821 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001493152-21-011946`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	amrh-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 26 Cash Flow Statement 54 Stockholders Equity 21

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash	`Cash`	$1.58M	USD	Point-in-time
Cash	`Cash`	$22.66M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.28M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$767.30K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$700.71K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.28M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$23.42M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.28M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.82M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.36M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.10M	shares	Point-in-time
Total assets	`Assets`	$4.10M	USD	Point-in-time
Total assets	`Assets`	$25.79M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.45M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.45M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.10M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$626.95K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$681.25K	USD	Point-in-time
Total liabilities	`LiabilitiesCurrent`	$681.25K	USD	Point-in-time
Total liabilities	`LiabilitiesCurrent`	$626.95K	USD	Point-in-time
Warrant liabilities	`WarrantLiabilitiesNoncurrent`	$6.17M	USD	Point-in-time
Warrant liabilities	`WarrantLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$6.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$681.25K	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, $0.01 par value, 20,000,000 shares authorized, 0 and 3,275,407 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`PreferredStockValue`	$32.75K	USD	Point-in-time
Preferred Stock, $0.01 par value, 20,000,000 shares authorized, 0 and 3,275,407 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 100,000,000 shares authorized, 19,449,975 and 10,095,109 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$194.50K	USD	Point-in-time
Common stock, $0.01 par value, 100,000,000 shares authorized, 19,449,975 and 10,095,109 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$100.95K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$15.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.01M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-145.54K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-181.28K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$18.99M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-1.81M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-2.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.42M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$4.10M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$25.79M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.61M	USD	1 Quarter
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$836.70K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$157.95K	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$6.76M	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$836.70K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-836.70K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.76M	USD	1 Quarter
Inducement expense	`InducementExpense`	$-298.71K	USD	1 Quarter
Inducement expense	`InducementExpense`	-	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-3.81M	USD	1 Quarter
Interest expense	`InterestExpense`	$261.76K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-261.76K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$35.74K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-12.70K	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossTax`	$-1.11M	USD	1 Quarter
Comprehensive loss	`OtherComprehensiveIncomeLossTax`	$-3.21M	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	16.22M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.65M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Extinguishment of note payable	`GainsLossesOnExtinguishmentOfDebt`	$-233.24K	USD	1 Quarter
Extinguishment of note payable	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Accrued interest	`AccruedInterest`	$28.52K	USD	1 Quarter
Accrued interest	`AccruedInterest`	-	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-3.81M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.59M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Inducement expense	`GainsLossesOnInducementExpense`	$-298.71K	USD	1 Quarter
Inducement expense	`GainsLossesOnInducementExpense`	-	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$136.64K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$66.21K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$49.59K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-59.28K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.63K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.16M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-893.92K	USD	1 Quarter
Purchase of license agreement	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchase of license agreement	`PaymentsToAcquireIntangibleAssets`	$675.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-675.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds from sale of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$21.61M	USD	1 Quarter
Proceeds from sale of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$50.00K	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Proceeds from note payable	`ProceedsFromNotesPayable`	$1.32M	USD	1 Quarter
Proceeds from note payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Repayment of note payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Repayment of note payable	`RepaymentsOfNotesPayable`	$157.71K	USD	1 Quarter
Proceeds from warrant exercises	`ProceedsFromWarrantExercise`	$3.27M	USD	1 Quarter
Proceeds from warrant exercises	`ProceedsFromWarrantExercise`	$1.21M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.88M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-107.71K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$34.23K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-86.68K	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$21.08M	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$231.60K	USD	1 Quarter
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$43.71K	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$275.31K	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$22.66M	USD	Point-in-time
Cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.58M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$43.71K	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$275.31K	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$22.66M	USD	Point-in-time
Cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.58M	USD	Point-in-time
Warrants issued in conjunction with notes payable issuances	`WarrantsIssuedInConjunctionWithNotesPayable`	$17.85K	USD	1 Quarter
Warrants issued in conjunction with notes payable issuances	`WarrantsIssuedInConjunctionWithNotesPayable`	-	USD	1 Quarter
Shares of common stock issued for note payable extensions	`NotesIssued1`	-	USD	1 Quarter
Shares of common stock issued for note payable extensions	`NotesIssued1`	$32.15K	USD	1 Quarter
Shares of common stock issued for accounts payable	`StockIssued1`	$173.48K	USD	1 Quarter
Shares of common stock issued for accounts payable	`StockIssued1`	-	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$18.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.42M	USD	Point-in-time
January 2021 registered direct offering	`StockIssuedDuringPeriodValueIssuedDirectOffering`	$4.62M	USD	1 Quarter
February 2021 registered direct offering	`StockIssuedDuringPeriodValueIssuedDirectOfferingOne`	$7.02M	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.59M	USD	1 Quarter
Induced conversion of stock options into restricted stock awards	`AdjustmentToAdditionalPaidInCapitalConvertibleDebtInstrumentIssuedAtSubstantialPremium`	$298.71K	USD	1 Quarter
Conversion of Series B preferred stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	1 Quarter
Exercise of warrants	`ExerciseOfWarrants`	$3.27M	USD	1 Quarter
Common stock issued for accounts payable	`StockIssuedDuringPeriodValueCommonStockIssuedForAccountsPayable`	$173.48K	USD	1 Quarter
Warrants issued in conjunction with notes payable	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$32.15K	USD	1 Quarter
Beneficial conversion feature issued with note payable	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$17.85K	USD	1 Quarter
Foreign exchange gain/loss	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$35.74K	USD	1 Quarter
Foreign exchange gain/loss	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-12.70K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Balance	`StockholdersEquity`	$18.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.81M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.42M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.