10-Q Filing

ENVERIC BIOSCIENCES, INC. CIK: 890821 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001493152-22-013332`
Period End Date	20220331
Filing Date	20220513
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 28 Cash Flow Statement 50 Stockholders Equity 21

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$21.69M	USD	Point-in-time
Cash	`Cash`	$17.36M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$970.90K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$380.84K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.74M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$294.43K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$776.79K	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
Right-of-use operating lease asset	`OperatingLeaseRightOfUseAsset`	$176.30K	USD	Point-in-time
Right-of-use operating lease asset	`OperatingLeaseRightOfUseAsset`	$151.32K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.97M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.92M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Goodwill	`Goodwill`	$1.61M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Goodwill	`Goodwill`	$1.59M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$9.51M	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
Total other assets	`AssetsNoncurrent`	$8.98M	USD	Point-in-time
Total assets	`Assets`	$32.18M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.62M	shares	Point-in-time
Total assets	`Assets`	$26.72M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	52.62M	shares	Point-in-time
Accounts payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Accounts payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$683.39K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.29M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$764.02K	USD	Point-in-time
Current portion of right-of-use operating lease obligation	`OperatingLeaseLiabilityCurrent`	$107.44K	USD	Point-in-time
Current portion of right-of-use operating lease obligation	`OperatingLeaseLiabilityCurrent`	$111.20K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.09M	USD	Point-in-time
Non-current portion of right-of-use operating lease obligation	`OperatingLeaseLiabilityNoncurrent`	$40.12K	USD	Point-in-time
Non-current portion of right-of-use operating lease obligation	`OperatingLeaseLiabilityNoncurrent`	$68.86K	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilities`	$1.61M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilities`	$1.63M	USD	Point-in-time
Warrant liability	`WarrantLiabilitiesNoncurrent`	$653.67K	USD	Point-in-time
Warrant liability	`WarrantLiabilitiesNoncurrent`	$3.97M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$5.64M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.41M	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; Series B preferred stock, $0.01 par value, 3,600,000 shares authorized, 0 shares issued and outstanding as of March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 20,000,000 shares authorized; Series B preferred stock, $0.01 par value, 3,600,000 shares authorized, 0 shares issued and outstanding as of March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 100,000,000 shares authorized, 52,623,407 and 32,578,475 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$325.79K	USD	Point-in-time
Common stock, $0.01 par value, 100,000,000 shares authorized, 52,623,407 and 32,578,475 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$526.23K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$89.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$82.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-60.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-65.26M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.80K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.91K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.42M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$24.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.31M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.99M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$26.72M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$32.18M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`SellingGeneralAndAdministrativeExpense`	$2.77M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$6.47M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$157.95K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$136.64K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$69.27K	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$4.80M	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$6.76M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.76M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.80M	USD	1 Quarter
Inducement expense	`InducementExpense`	-	USD	1 Quarter
Inducement expense	`InducementExpense`	$298.71K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-3.81M	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-275.97K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$4.14K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$271.83K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.52M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$88.71K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$35.74K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.21M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.44M	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasic`	$-0.11	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	42.36M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	16.22M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.52M	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-3.81M	USD	1 Quarter
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-275.97K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.59M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$768.62K	USD	1 Quarter
Inducement expense	`InducementExpense`	-	USD	1 Quarter
Inducement expense	`InducementExpense`	$298.71K	USD	1 Quarter
Amortization of right-of-use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$34.45K	USD	1 Quarter
Amortization of right-of-use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	-	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$42.19K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$136.64K	USD	1 Quarter
Depreciation expense	`Depreciation`	$27.08K	USD	1 Quarter
Depreciation expense	`Depreciation`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$66.21K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$588.98K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-59.28K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.02K	USD	1 Quarter
Right-of-use operating lease liability	`IncreaseDecreaseInRightOfUseLeaseLiability`	$38.34K	USD	1 Quarter
Right-of-use operating lease liability	`IncreaseDecreaseInRightOfUseLeaseLiability`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.55M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.16M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$505.51K	USD	1 Quarter
Purchase of license agreement	`PaymentsToAcquireIntangibleAssets`	$675.00K	USD	1 Quarter
Purchase of license agreement	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-675.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-505.51K	USD	1 Quarter
Proceeds from sale of common stock and warrants, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$21.61M	USD	1 Quarter
Proceeds from sale of common stock and warrants, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$9.40M	USD	1 Quarter
Proceeds from warrant exercises	`ProceedsFromWarrantExercises`	$3.27M	USD	1 Quarter
Proceeds from warrant exercises	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.88M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.40M	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$34.23K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-4.90K	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$21.08M	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.34M	USD	1 Quarter
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$17.36M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.58M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$21.69M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$22.66M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$17.36M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.58M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$21.69M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$22.66M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$4.14K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Warrants issued in conjunction with common stock issuance	`WarrantsIssuedInConjunctionWithNotesPayable`	$3.60M	USD	1 Quarter
Warrants issued in conjunction with common stock issuance	`WarrantsIssuedInConjunctionWithNotesPayable`	-	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$3.42M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$24.44M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$22.31M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$18.99M	USD	Point-in-time
January 2021 registered direct offering	`StockIssuedDuringPeriodValueIssuedDirectOfferingNet`	$4.62M	USD	1 Quarter
February 2021 registered direct offering	`StockIssuedDuringPeriodValueIssuedDirectOfferingNetOne`	$7.02M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.59M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$768.62K	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	`StockIssuedDuringPeriodValueWarrantsExercised`	$3.27M	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$88.71K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$35.74K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.25M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.52M	USD	1 Quarter
February 2022 registered direct offering	`StockIncreasedDuringPeriodValueRegisteredDirectOffering`	$5.80M	USD	1 Quarter
Conversion of RSUs into common shares	`StockIssuedDuringPeriodValueConversionOfUnits`	-	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$3.42M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$24.44M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$22.31M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$18.99M	USD	Point-in-time

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