10-Q Filing

ENVERIC BIOSCIENCES, INC. CIK: 890821 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001567619-20-010243`
Period End Date	20200331
Filing Date	20200515
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	amrh-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 46 Cash Flow Statement 48 Stockholders Equity 28

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$431.40K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$8.10M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$6.38M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	424,938.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$783.61K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$874.86K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	424,938.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	424,938.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	424,938.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.60M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$115.52K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$83.13K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	3.25M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.52M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.58M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.04M	USD	Point-in-time
Goodwill	`Goodwill`	$13.73M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.52M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	3.25M	shares	Point-in-time
Goodwill	`Goodwill`	$13.73M	USD	Point-in-time
Deferred income tax assets, net	`DeferredIncomeTaxAssetsNet`	$8.88K	USD	Point-in-time
Deferred income tax assets, net	`DeferredIncomeTaxAssetsNet`	$11.35K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$17.41M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$16.89M	USD	Point-in-time
Total assets	`Assets`	$27.14M	USD	Point-in-time
Total assets	`Assets`	$25.01M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$2.88M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$4.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.25M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.99M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.18M	USD	Point-in-time
Convertible notes	`ConvertibleNotesPayableCurrent`	$1.00M	USD	Point-in-time
Convertible notes	`ConvertibleNotesPayableCurrent`	$1.00M	USD	Point-in-time
Debentures	`UnsecuredConvertibleDebtCurrent`	$1.50M	USD	Point-in-time
Debentures	`UnsecuredConvertibleDebtCurrent`	$1.00M	USD	Point-in-time
Consideration payable - cash	`BusinessCombinationCashConsiderationPayableCurrent`	$2.50M	USD	Point-in-time
Consideration payable - cash	`BusinessCombinationCashConsiderationPayableCurrent`	$1.00M	USD	Point-in-time
Short term Loans	`ShortTermBorrowings`	-	USD	Point-in-time
Short term Loans	`ShortTermBorrowings`	$1.00M	USD	Point-in-time
Dividend payable - Preferred stock	`DividendsPayableCurrent`	$428.13K	USD	Point-in-time
Dividend payable - Preferred stock	`DividendsPayableCurrent`	$320.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.38M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.91M	USD	Point-in-time
Preferred stock, $0.01 par value; 1,000,000 authorized, 424,938 issued and outstanding as of March 31, 2020 and December 31, 2019.	`PreferredStockValue`	$4.25K	USD	Point-in-time
Preferred stock, $0.01 par value; 1,000,000 authorized, 424,938 issued and outstanding as of March 31, 2020 and December 31, 2019.	`PreferredStockValue`	$4.25K	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized, 3,246,705 and 2,522,095 issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$25.22K	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized, 3,246,705 and 2,522,095 issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$32.47K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$52.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$51.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-42.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-40.51M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$24.51K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$60.01K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.22M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$25.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$27.14M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$10.69M	USD	1 Quarter
Revenue	`Revenues`	$9.60M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$8.55M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$7.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.88M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.14M	USD	1 Quarter
Selling, General and administration	`SellingGeneralAndAdministrativeExpense`	$2.88M	USD	1 Quarter
Selling, General and administration	`SellingGeneralAndAdministrativeExpense`	$2.92M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$559.62K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$561.02K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$3.48M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$3.44M	USD	1 Quarter
Operating Income (loss)	`OperatingIncomeLoss`	$-1.30M	USD	1 Quarter
Operating Income (loss)	`OperatingIncomeLoss`	$-1.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$160.06K	USD	1 Quarter
Interest expense	`InterestExpense`	$142.55K	USD	1 Quarter
Impairment charges on goodwill and intangible assets	`GoodwillAndIntangibleAssetImpairment`	-	USD	1 Quarter
Impairment charges on goodwill and intangible assets	`GoodwillAndIntangibleAssetImpairment`	-	USD	1 Quarter
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$450.27K	USD	1 Quarter
Changes in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.76M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.89M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-31.21K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$21.89K	USD	1 Quarter
Income (loss) after income taxes	`ProfitLoss`	$-1.78M	USD	1 Quarter
Income (loss) after income taxes	`ProfitLoss`	$-1.86M	USD	1 Quarter
Net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net Income (loss) attributable to the Company	`NetIncomeLoss`	$-1.86M	USD	1 Quarter
Net Income (loss) attributable to the Company	`NetIncomeLoss`	$-1.78M	USD	1 Quarter
Dividend on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$107.83K	USD	1 Quarter
Dividend on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$105.70K	USD	1 Quarter
Net Income (loss) attributable to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.89M	USD	1 Quarter
Net Income (loss) attributable to common stock holders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.97M	USD	1 Quarter
Foreign exchange translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-35.50K	USD	1 Quarter
Foreign exchange translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$18.71K	USD	1 Quarter
Total Comprehensive Income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.95M	USD	1 Quarter
Total Comprehensive Income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.93M	USD	1 Quarter
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$-0.60	USD	1 Quarter
Basic income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$-1.09	USD	1 Quarter
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.60	USD	1 Quarter
Diluted income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-1.09	USD	1 Quarter
Basic weighted average number of common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.18M	shares	1 Quarter
Basic weighted average number of common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	1.81M	shares	1 Quarter
Diluted weighted average number of common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.18M	shares	1 Quarter
Diluted weighted average number of common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.81M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.95M	USD	1 Quarter
Net Income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.93M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$559.62K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$561.02K	USD	1 Quarter
Impairment on goodwill and Intangible assets	`GoodwillAndIntangibleAssetImpairment`	-	USD	1 Quarter
Impairment on goodwill and Intangible assets	`GoodwillAndIntangibleAssetImpairment`	-	USD	1 Quarter
Provision for Preference dividend	`DividendsPreferredStock`	$107.83K	USD	1 Quarter
Provision for Preference dividend	`DividendsPreferredStock`	$105.70K	USD	1 Quarter
Changes in fair value of warrants	`FairValueAdjustmentOfWarrants`	$450.27K	USD	1 Quarter
Changes in fair value of warrants	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Stock, option, restricted stock unit and warrant expense	`StockOptionRestrictedStockUnitAndWarrantExpense`	$277.38K	USD	1 Quarter
Stock, option, restricted stock unit and warrant expense	`StockOptionRestrictedStockUnitAndWarrantExpense`	$19.81K	USD	1 Quarter
Foreign exchange translation adjustment	`ForeignCurrencyTransactionGainLossBeforeTax`	$35.50K	USD	1 Quarter
Foreign exchange translation adjustment	`ForeignCurrencyTransactionGainLossBeforeTax`	$-18.71K	USD	1 Quarter
Provision for Income taxes ( net of deferred income taxes)	`IncomeTaxExpenseBenefit`	$-31.21K	USD	1 Quarter
Provision for Income taxes ( net of deferred income taxes)	`IncomeTaxExpenseBenefit`	$21.89K	USD	1 Quarter
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.72M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.03M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$91.25K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$16.95K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$769.96K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$626.65K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.29M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-984.13K	USD	1 Quarter
Purchase of fixed assets	`PaymentsForProceedsFromProductiveAssets`	$11.92K	USD	1 Quarter
Purchase of fixed assets	`PaymentsForProceedsFromProductiveAssets`	$43.37K	USD	1 Quarter
Acquisition consideration	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$100.00K	USD	1 Quarter
Acquisition consideration	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-111.92K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.37K	USD	1 Quarter
Proceeds from bank loan and convertible notes, net	`ProceedsFromRepaymentsOfShortTermDebt`	$3.17M	USD	1 Quarter
Proceeds from bank loan and convertible notes, net	`ProceedsFromRepaymentsOfShortTermDebt`	$-19.77K	USD	1 Quarter
Proceeds from issuance of common shares, net	`ProceedsFromIssuanceOfCommonStock`	$1.47M	USD	1 Quarter
Proceeds from issuance of common shares, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.17M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.45M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$835.95K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$351.77K	USD	1 Quarter
Cash and cash equivalents as at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.27M	USD	Point-in-time
Cash and cash equivalents as at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$431.40K	USD	Point-in-time
Cash and cash equivalents as at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.37M	USD	Point-in-time
Cash and cash equivalents as at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.72M	USD	Point-in-time
Cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.27M	USD	Point-in-time
Cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$431.40K	USD	Point-in-time
Cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.37M	USD	Point-in-time
Cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.72M	USD	Point-in-time

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Balance	`StockholdersEquity`	$10.22M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.76M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.52M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	3.25M	shares	Point-in-time
Net Loss for the period	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.89M	USD	1 Quarter
Net Loss for the period	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.97M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$18.71K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-35.50K	USD	1 Quarter
Shares Issued towards earnout	`SharesIssuedTowardsEarnOutsValue`	$605.22K	USD	1 Quarter
Exercise of Warrants (PIPE series A&B)	`ExerciseOfWarrantsValue`	$1.47M	USD	1 Quarter
Stock Compensation expenses	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$19.81K	USD	1 Quarter
Stock Compensation expenses	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$277.38K	USD	1 Quarter
Shares Issued for Extinguishment of liability	`StockIssuedDuringPeriodValueExtinguishmentOfLiability`	$1.50M	USD	1 Quarter
Conversion of accrued Interest	`StockIssuedDuringPeriodConversionOfAccruedInterestValue`	$13.62K	USD	1 Quarter
Balance	`StockholdersEquity`	$10.22M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.76M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	2.52M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	3.25M	shares	Point-in-time

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