Revenue Performance - Total revenue for the three months ended July 31, 2021, was 213,739,a15384,450 for the same period in 2020[13]. - Total revenue for the six months ended July 31, 2021, reached 647,227,up218203,814 in the same period of 2020[13]. - Revenue from the sale of goods for the six months ended July 31, 2021, was 541,251,upfrom120,770 in 2020, indicating an increase of 348%[41]. - For the three months ended July 31, 2021, total revenue was 213,739,comparedto84,450 for the same period in 2020, representing a growth of 152%[41]. - For the six months ended July 31, 2021, the company generated revenue of 647,227,upfrom203,814 in the same period in 2020, resulting in a gross margin of 291,621comparedto11,938 in 2020[121]. Net Loss and Expenses - Net loss for the three months ended July 31, 2021, was 519,923,comparedtoanetlossof225,869 for the same period in 2020, representing a 130% increase in losses[13]. - Net loss for the six months ended July 31, 2021, was 835,880,anincreaseof31638,063 in the same period of 2020[13]. - Selling, general and administrative expenses for the three months ended July 31, 2021, were 509,219,asignificantincreasefrom193,331 in the same period of 2020[13]. - Selling, general and administrative expenses for the six months ended July 31, 2021, were 1,088,827,anincreasefrom355,248 in the same period in 2020, primarily due to non-cash consulting expenses and expenses from Active Intelligence[122]. Assets and Liabilities - Total current assets as of July 31, 2021, were 606,750,comparedto314,188 as of January 31, 2021, reflecting a 93% increase[11]. - Total assets increased to 10,163,555asofJuly31,2021,from9,927,419 as of January 31, 2021, marking a 2.4% growth[11]. - Total liabilities as of July 31, 2021, were 2,847,489,slightlyupfrom2,815,473 as of January 31, 2021[11]. - Stockholders' equity increased to 7,316,066asofJuly31,2021,from7,111,946 as of January 31, 2021, indicating a 2.9% rise[11]. Cash Flow and Financing - Cash used in operating activities was 367,944forthesixmonthsendedJuly31,2021,comparedto313,652 for the same period in 2020, indicating a 17% increase in cash outflow[18]. - The company reported net cash provided by financing activities of 569,605forthesixmonthsendedJuly31,2021,comparedto342,719 for the same period in 2020, reflecting a 66% increase in financing cash flow[18]. - Cash and cash equivalents at the end of the period were 304,258,significantlyupfrom39,248 at the end of the same period in 2020, marking an increase of over 675%[18]. - The company incurred stock-based compensation expenses of 225,000forthesixmonthsendedJuly31,2021,comparedto38,000 in the same period in 2020, which is an increase of approximately 493%[18]. Acquisitions and Investments - The acquisition of 4P Therapeutics LLC for 2,250,000includedaroyaltyof67,418,073 from Pocono Coated Products and Active Intelligence, including 6,085,180incommonstockissuedandanotepayableof1,332,893[59]. - The company acquired Advanced Health Brands, Inc. for 1,250,000 shares of common stock valued at 2,500,000[89].−ThecompanypurchasedassetsfromPoconoCoatedProductsfor6,000,000 in common stock and a 1,500,000promissorynote[97].RegulatoryandCompliance−ThecompanyrecognizesrevenuebasedonthefivecriteriaestablishedunderTopic606,ensuringcompliancewithrevenuerecognitionstandards[36].−Thecompanyhasimplementedplanstoalleviatesubstantialdoubtaboutitsabilitytocontinueasagoingconcern,includingincreasingsalescommitmentsandreducingoverheadexpenses[31].−Thecompanyhasestablishedadditionalmonitoringcontrolsoverfinancialstatementsandaddedqualifiedaccountingpersonneltoreducerelianceonthird−partyconsultants[144].−TheSECacceptedasettlementofferfromthecompanyanditsofficersforviolationsrelatedtoinaccuratestatementsinSECfilings,resultingincease−and−desistorders[150].ProductDevelopmentandMarketPosition−Thecompanyisfocusedondevelopingtransdermalpharmaceuticalproducts,whicharecurrentlyinthepreclinicalstageandrequireFDAapprovalbeforemarketing[24].−ThecompanyisseekingFDAapprovalforitstransdermalpharmaceuticalproducts,whichisatime−consumingandexpensiveprocess[111].−Thecompanyhassuspendeditspharmaceuticalproductdevelopmentoperationsduetoalackoffunds,whichiscriticalforthedevelopmentoftransdermalsystemsforpharmaceuticals[154].−Thecompanyhasnotcompletedthedevelopmentofitsleadproduct,theabusedeterrentfentanyltransdermalsystem,andlacksanymarketableproductintheUnitedStates[156].LeadershipandGovernance−NutribandInc.isrepresentedbyGarethSheridanastheChiefExecutiveOfficerandGeraldGoodmanastheChiefFinancialOfficer,indicatingleadershipstability[164].−TheCEO′sannualsalaryissetat42,000, increasing to 170,000uponraisingatleast2,500,000 in equity financing[92]. Miscellaneous - The company recorded no bad debt expense for doubtful accounts related to accounts receivable for the six months ended July 31, 2021, and 2020[42]. - The company has no long-term contractual obligations and can terminate contracts at any time[110]. - The company has filed various certifications including Section 302 and Section 906 by the Chief Executive Officer and Chief Financial Officer, ensuring compliance with regulatory requirements[31][32][33]. - The report includes XBRL documents which facilitate the analysis and sharing of financial data, enhancing transparency and accessibility for investors[101].
