KAVL

Kaival Brands Reports Fiscal 2024 First Quarter Financial Results and Provides Business Update

Retrieved on: 
Wednesday, March 27, 2024
Bidi, Tax, Growth, Stick, Inhalation, KAVL, Security (finance), Insurance, Advertising, Patel

GRANT-VALKARIA, Fla., March 27, 2024 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands" or the "Company,"), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), on Monday announced its financial results for the fiscal 2024 first quarter ended January 31, 2024 and provided a business update.

Key Points: 
  • GRANT-VALKARIA, Fla., March 27, 2024 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands" or the "Company,"), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), on Monday announced its financial results for the fiscal 2024 first quarter ended January 31, 2024 and provided a business update.
  • Reduced net inventories to $2.1 million as of January 31, 2024, down 49.5% from $4.1 million as of October 31, 2023.
  • Terminated service agreement with QuikFillRx (d/b/a Kaival Marketing Services), the third-party service provider responsible for increasing sales of Bidi Sticks, effective February 22, 2024.
  • Revenues: Revenues for the first quarter of fiscal year 2024 were $3.2 million, compared to $2.5 million in the same period of the prior fiscal year.

Kaival Brands Provides Business Update in Letter to Shareholders

Retrieved on: 
Wednesday, February 14, 2024
KAVL, Annual report, Marketing, FDA, Nicotine, Ageing, MDO, EPO, Growth, Stick, Sale, Risk, Interim, Safety, Heated tobacco product, European Patent Organisation, Administration, Patent, Executive, Security (finance), ENDS, Child, Financial management, Stock, Cannabis, MDOS

Operating Expenses decreased to $13.2 million compared to $15.6 million, with the decrease driven primarily by disciplined cost management.

Key Points: 
  • Operating Expenses decreased to $13.2 million compared to $15.6 million, with the decrease driven primarily by disciplined cost management.
  • As of October 31, 2023, Kaival Brands had working capital of approximately $1.9 million and total cash of approximately $0.5 million.
  • Through it all, we remain committed to steadfast compliance with established FDA requirements for our products and business as we have since our inception.
  • Those ten products remain available for sale through Kaival Brands, subject to FDA’s enforcement discretion.

Kaival Brands Partner Bidi Vapor to Contest FDA Denial of ‘Classic’ Tobacco-Flavored ENDS

Retrieved on: 
Monday, January 29, 2024
Herbal cigarette, MDOS, MDO, ENDS, Sale, Food, Stick, FDA, Marketing, KAVL, Administration, Heated tobacco product

GRANT-VALKARIA, Fla., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company" or "we,” “our” or similar terms), a company focused on incubating and commercializing innovative products into mature and dominant brands, with a current focus on the distribution of electronic nicotine delivery systems (ENDS), which are intended for adults 21 and over, today announced that its licensor and commercial partner, Bidi Vapor LLC (Bidi Vapor), will appeal the U.S. Food and Drug Administration’s (FDA) decision to deny Bidi Vapor’s premarket tobacco product application (PMTA) for Bidi Vapor’s “Classic” tobacco-flavored BIDI® Stick ENDS device. Kaival Brands holds the worldwide license to distribute products made by Bidi Vapor.

Key Points: 
  • Kaival Brands holds the worldwide license to distribute products made by Bidi Vapor.
  • On Monday, January 22, 2024, the FDA issued a marketing denial order (MDO) for Bidi Vapor’s “Classic” BIDI® Stick PMTA.
  • “Bidi Vapor disagrees with the FDA’s decision and is taking immediate action accordingly,” said Niraj Patel, the Founder & Chief Executive Officer of Bidi Vapor, who is also the Chief Science Officer & Founder of Kaival Brands.
  • “While we are disappointed with the FDA’s decision, we are in close contact with Bidi Vapor and laser focused on selling the Bidi Vapor products that we are permitted to,” said Barry M. Hopkins, Executive Chairman of Kaival Brands.

Kaival Brands Innovations Group Announces Reverse Stock Split

Retrieved on: 
Tuesday, January 23, 2024
Transfer, CUSIP, Trust, Common stock, Common, Certificate, Reverse stock split, Exercise, KAVL, Security (finance)

GRANT--VALKARIA, Fla., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) (“Kaival Brands,” or the “Company”), today announced that it is effecting a 1-for-21 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock (the “Common Stock”), effective with the opening of trading on Thursday, January 25, 2024.

Key Points: 
  • GRANT--VALKARIA, Fla., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) (“Kaival Brands,” or the “Company”), today announced that it is effecting a 1-for-21 reverse stock split (the “Reverse Stock Split”) of its issued and outstanding common stock (the “Common Stock”), effective with the opening of trading on Thursday, January 25, 2024.
  • The Reverse Stock Split will not reduce the total number of Kaival Brands’ authorized shares of Common Stock.
  • The number of shares of Common Stock available for issuance under the Company’s equity incentive plans and the Common Stock issuable pursuant to outstanding equity awards and common stock purchase warrants immediately prior to the Reverse Stock Split will be proportionately adjusted by the ratio of the Reverse Stock Split.
  • Kaival Brands’ transfer agent, VStock Transfer LLC, is acting as the exchange agent for the Reverse Stock Split and will send each stockholder a transaction statement indicating the number of shares of Common Stock the stockholder holds after the Reverse Stock Split.

Kaival Brands, Exclusive Distributor of Bidi Vapor Products to the E-Cigarette and Vape Industry, Featured in InvestmentPitch Media Video

Retrieved on: 
Wednesday, November 29, 2023
FDA, Research, Herbal cigarette, ENDS, KAVL, Growth, Research report, CFA

For more information, please view the InvestmentPitch Media video which provides additional information about the company, along with comments from both Eric Mosser, President & CEO, and Stephen Sheriff, Chief Operating Officer.

Key Points: 
  • For more information, please view the InvestmentPitch Media video which provides additional information about the company, along with comments from both Eric Mosser, President & CEO, and Stephen Sheriff, Chief Operating Officer.
  • If you are unable to view this video, please watch it on InvestmentPitch Media's YouTube Channel at this link: ( click here )
    The company is the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC, which are fully compliant with all current FDA regulations.
  • According to Statista, the global E-Cigarettes market is projected to generate revenue of US$24.6 billion in 2023, with the United States estimated at US$8.3 billion.
  • We believe its recent announcements regarding adding 1,500 new Circle K locations cements our thesis of accelerating growth during CY 2024 and beyond.

Kaival Brands Appoints Executive Chairman Barry Hopkins as Interim Chief Executive Officer and President

Retrieved on: 
Thursday, December 28, 2023
Food, Government, Marketing, FDA, Acquisition, Strategic planning, Region, ENDS, Stock, KAVL, Philip Morris, Interim, Growth, National accounts, Stick, Food and Drug Administration, District court, Philip Morris International, Senior, Management

GRANT-VALKARIA, Fla., Dec. 28, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we") today announced that it has expanded the role of Barry M. Hopkins, Executive Chairman, to include the positions of Interim Chief Executive Officer & President.

Key Points: 
  • GRANT-VALKARIA, Fla., Dec. 28, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we") today announced that it has expanded the role of Barry M. Hopkins, Executive Chairman, to include the positions of Interim Chief Executive Officer & President.
  • Former Chief Executive Officer & President, Eric Mosser, has been appointed Chief Executive Officer & President of Kaival Brands International, the Company’s subsidiary which has an international licensing relationship with Philip Morris Products S.A., a wholly owned affiliate of Philip Morris International Inc. (NYSE: PM).
  • Barry understands this vision, the importance of regulatory compliance and youth access prevention, and has done an exceptional job since joining Kaival Brands.
  • As Executive Chairman and Interim Chief Executive Officer and President, Mr. Hopkins will continue his service as the Company’s principal executive officer.

Kaival Brands Appoints James W. Dobbins as Senior Vice President, General Counsel

Retrieved on: 
Thursday, December 7, 2023
TPB, Marketing, Intellectual property, Fordham University, FDA, JD, Private practice, Mathematics, Drew University, Science, KAVL, General counsel, Organization, Employment, Senior

GRANT-VALKARIA, Fla., Dec. 07, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"), today announced that it has appointed James W. Dobbins as General Counsel effective December 5, 2023.

Key Points: 
  • GRANT-VALKARIA, Fla., Dec. 07, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"), today announced that it has appointed James W. Dobbins as General Counsel effective December 5, 2023.
  • Barry Hopkins, Executive Chairman of Kaival Brands, said, “James Dobbins has extensive experience advising companies on a breadth of legal matters, and importantly, he also has a deep, relevant understanding of industry business operations, including corporate governance, M&A, international sourcing, and compliance matters.
  • Prior to Turning Point Brands, he spent several years in private practice.
  • Mr. Dobbins began his legal career with the law firm of Webster and Sheffield in New York.

Kaival Brands Expands Senior Management Team with the Appointment of Barry Hopkins as Executive Chairman

Retrieved on: 
Monday, November 13, 2023
Senior, Executive, Tobacco, Culture, Tobacco industry, KAVL, Communication, Management, Altria

GRANT-VALKARIA, Fla., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"), today announced that it has expanded the role of Mr. Barry Hopkins, Chairman of the Board, to the new position of Executive Chairman.

Key Points: 
  • GRANT-VALKARIA, Fla., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"), today announced that it has expanded the role of Mr. Barry Hopkins, Chairman of the Board, to the new position of Executive Chairman.
  • In this role, Mr. Hopkins will serve as Kaival Brands’ principal executive officer.
  • Current President and Chief Executive Officer, Mr. Eric Mosser, will continue to manage day-to-day operations of the Company.
  • Mr. Hopkins joined Kaival Brands as Chairman of the Board in March 2023.

Kaival Brands Leads the Way in Compliance as FDA Ramps Up Enforcement of Illicit Vape Products

Retrieved on: 
Tuesday, November 7, 2023
United States International Trade Commission, FDA, ENDS, KAVL, ITC, Growth, Herbal cigarette, Partnership, Seizure, Public, Stick, Tobacco, Dietary supplement, Pharmaceutical industry

Recent reports have highlighted a significant increase in the FDA's enforcement activities, targeting unauthorized vape products that have flooded the market.

Key Points: 
  • Recent reports have highlighted a significant increase in the FDA's enforcement activities, targeting unauthorized vape products that have flooded the market.
  • "As the FDA continues to clear the market of illicit and non-compliant e-cigarette products, Kaival Brands stands ready to meet the demand for legal and regulated alternatives," said Eric Mosser, President and CEO of Kaival Brands.
  • Kaival Brands anticipates that these measures will lead to a substantial reduction in the availability of illicit vape products, particularly in outlets that prioritize regulatory compliance.
  • For more information about Kaival Brands and its commitment to compliance and quality, please visit Kaival Brands' website: https://ir.kaivalbrands.com

Kaival Brands Innovations Group, Inc. Highlighted in Updated Research Report Released by Harbinger Research, LLC

Retrieved on: 
Thursday, October 12, 2023
KAVL, Pharmaceutical industry

GRANT-VALKARIA, Fla., Oct. 12, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we") today announced that Harbinger Research LLC has published an updated equity research report on the Company.

Key Points: 
  • GRANT-VALKARIA, Fla., Oct. 12, 2023 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we") today announced that Harbinger Research LLC has published an updated equity research report on the Company.
  • Harbinger Research’s original report on the Company was published on June 28, 2023.
  • Harbinger Research was compensated by the Company in the amount of $25,000 for the production and distribution of the initial report, and $5,000 for this updated report.
  • Please see additional disclaimers on page 22 of the updated report.