Lucide Ledger

A filing-first public record from Lucide House.

Issue 003 | U.S. Pilot | US

KAVL

Kaival Brands Innovations Group, Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-03-13 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 40.1%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
931,430USD
Total Liabilities
434,362USD
NCAV
497,068USD
Cash
0USD
NCAV per share
0.04USD/share
Evidence
7 annual | 28 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated
12
Triggered
2
Unavailable
7
Requires inspection Negative OCF -752,349
Latest
-752,3492026-01-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-01-31 · 0001731122-26-000390

Supporting observation Current Ratio > 1.5 2.14
Latest
2.142026-01-31
Comparison
1.5
Change
n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 10-Q 2026-01-31 · 0001731122-26-000390

7 unavailable checks — inspect missing inputs
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
Low Debt (short-term debt + long-term debt) / ordinary equity < 20%
Material 1Y Share Increase 1Y share change >= +2% using the same share-count source
NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive
No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source
Non-Positive Equity ordinary shareholders equity <= 0
Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Share Count & Per-Share Comparability

Normalized share-count evidence has not been imported for this company.

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-10-31
10-K
USD
2024-10-31
10-K
USD
2023-10-31
10-K
USD
2022-10-31
10-K
USD
2021-10-31
10-K
USD
2020-10-31
10-K
USD
2019-10-31
10-K
USD
Revenue 484,661 6,886,665 13,087,018 12,761,457 58,776,430 64,314,379 n/a
Operating Income n/a 29,800,000 23,800,000 4,500,000 4,000,000 1,800,000 n/a
Net Income -16,629,885 -6,699,282 -11,132,772 -14,370,335 -9,033,438 3,845,822 -68,849
Cash From Operations -2,772,790 -672,632 -2,973,254 -5,705,130 -9,313,241 7,601,623 n/a
Capex n/a -3,480 -3,480 n/a n/a n/a n/a
Free Cash Flow n/a -676,112 -2,976,734 n/a n/a n/a n/a
Cash And Equivalents 0 0 0 3,685,893 7,825,235 7,421,701 0
Accounts Receivable 120,000 263,571 1,869,276 574,606 1,985,186 1,401,562 0
Inventory n/a n/a 4,071,824 1,239,725 15,326,370 6,383 0
Total Current Assets 669,256 4,510,183 6,905,427 9,073,419 30,134,916 8,845,006 0
Total Assets 669,256 16,004,276 19,385,006 12,437,034 30,190,520 8,915,139 0
Total Current Liabilities 569,289 1,526,333 4,961,788 1,585,478 13,820,022 4,438,327 44,886
Total Liabilities 569,289 2,188,604 5,827,995 2,636,254 13,866,207 4,497,531 44,886
Shareholders Equity 99,967 13,815,672 13,557,011 9,800,780 16,324,313 4,417,608 -44,886
Shares Outstanding 13,535,402 11,542,302 2,846,335 2,674,718 1,439,682 36,927 75,710
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 11,032,569 4,313,900 2,721,080 1,890,971 1,142,869 68,282 75,710
Weighted Avg Shares Basic 11,032,569 4,313,900 2,721,080 1,890,971 1,142,869 68,282 75,710
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric
2026-01-31
10-Q
USD
2025-10-31
10-K
USD
2025-10-31
10-K
USD
2025-07-31
10-Q
USD
2025-04-30
10-Q
USD
2025-01-31
10-Q
USD
2024-10-31
10-K
USD
2024-10-31
10-K
USD
2024-07-31
10-Q
USD
2024-04-30
10-Q
USD
2024-01-31
10-Q
USD
2023-10-31
10-K
USD
2023-07-31
10-Q
USD
2023-04-30
10-Q
USD
2023-01-31
10-Q
USD
2022-10-31
10-K
USD
2022-10-31
10-K
USD
2022-07-31
10-Q
USD
2022-04-30
10-Q
USD
2022-01-31
10-Q
USD
2021-10-31
10-K
USD
2021-10-31
10-K
USD
2021-10-31
10-K
USD
2021-10-31
10-K
USD
2021-10-31
10-K
USD
2021-10-31
10-K
USD
2021-07-31
10-Q
USD
2021-04-30
10-Q
USD
Revenue 92,938 92,588 92,588 142,425 47,045 202,603 734,964 734,964 713,814 2,226,314 3,211,573 3,957,205 3,583,593 3,020,302 2,525,918 3,012,289 3,012,289 3,847,261 3,060,024 2,841,883 -177,146 -177,146 -177,146 -177,146 -177,146 -177,146 3,442,978 18,149,079
Operating Income n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 0 4,000,000 n/a n/a n/a n/a n/a n/a n/a 0
Net Income -620,787 -10,011,797 -10,011,797 -559,355 -1,997,653 -4,061,080 -1,486,557 -1,486,557 -1,571,861 -1,527,178 -2,113,686 -2,375,572 -1,800,143 -3,962,148 -2,994,909 -2,719,220 -2,719,220 -3,856,991 -5,012,160 -2,781,964 2,609,921 2,609,921 2,609,921 2,609,921 2,609,921 -1,649,006 -3,437,006 -4,258,927
Cash From Operations -752,349 -752,032 -752,032 -536,776 -578,243 -905,739 -793,453 -793,453 -594,570 470,504 244,887 -123,264 -291,948 -2,649,257 91,215 274,054 274,054 -1,374,613 -2,471,057 -2,133,514 -3,031,663 -3,031,663 -3,031,663 -3,031,663 -3,031,663 -3,031,663 -1,078,519 224,277
Capex n/a n/a n/a n/a n/a n/a n/a n/a 0 0 0 0 0 0 -3,480 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Free Cash Flow n/a n/a n/a n/a n/a n/a n/a n/a -594,570 470,504 244,887 -123,264 -291,948 -2,649,257 87,735 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Cash And Equivalents 0 0 0 0 0 0 0 0 0 0 0 0 1,003,212 1,124,371 3,773,628 3,685,893 3,685,893 3,358,124 4,727,037 5,655,962 7,825,235 7,825,235 7,825,235 7,825,235 7,825,235 7,825,235 938,435 2,140,667
Total Current Assets 931,430 669,256 669,256 1,411,009 1,941,194 2,824,352 4,510,183 4,510,183 5,799,355 1,901,653 4,035,411 6,905,427 6,614,864 7,935,642 10,396,276 9,073,419 9,073,419 12,872,630 17,246,425 23,762,498 30,134,916 30,134,916 30,134,916 30,134,916 30,134,916 30,134,916 23,839,216 49,101,729
Total Liabilities 434,362 569,289 569,289 1,418,088 1,587,965 1,433,597 2,188,604 2,188,604 4,005,708 4,025,499 4,521,600 5,827,995 5,170,003 5,182,276 4,793,299 2,636,254 2,636,254 2,888,104 4,141,854 9,887,913 13,866,207 13,866,207 13,866,207 13,866,207 13,866,207 13,866,207 17,528,918 39,939,393
Shares Outstanding 13,535,402 11,593,402 13,535,402 11,542,302 11,542,302 11,542,302 8,517,302 11,542,302 6,783,958 2,863,002 2,863,002 2,793,386 2,793,385 2,674,719 2,674,719 56,169,090 2,674,719 2,674,719 1,484,100 1,482,829 30,195,312 30,195,312 30,195,312 30,195,312 30,195,312 1,437,872 37,505 37,461
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 13,110,582 11,032,569 11,558,579 11,542,302 11,542,302 9,503,715 4,313,900 7,023,680 4,482,527 2,863,002 2,854,850 2,721,080 2,741,853 2,674,719 2,674,719 1,890,971 1,890,971 1,975,888 n/a 1,439,737 n/a n/a n/a n/a n/a 24,000,246 37,466 37,321
Weighted Avg Shares Basic 13,110,582 11,032,569 11,032,569 n/a 11,542,302 9,503,715 4,313,900 7,023,680 4,482,527 2,863,002 2,854,850 2,721,080 2,741,853 2,674,719 2,674,719 1,890,971 1,890,971 1,975,888 n/a 1,439,737 n/a n/a n/a n/a n/a 24,000,246 37,466 37,321
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 931,430USD us-gaap:AssetsCurrent 2026-01-31 1.00 Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
Total Liabilities 434,362USD us-gaap:Liabilities 2026-01-31 1.00 Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
Cash 0USD us-gaap:CashAndCashEquivalentsAtCarryingValue 2026-01-31 1.00 Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
Shares Outstanding 13,535,402 us-gaap:CommonStockSharesOutstanding 2026-01-31 1.00 Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
NCAV 497,068USD derived 2026-01-31 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 0.04USD derived 2026-01-31 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 40.1% derived 2026-01-31 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001762239
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001762239/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
23
Imported At
2026-07-25T13:48:04+00:00
Rendered At
2026-08-16T03:29:48+00:00

Run Audit

Mary Run
8f67c1da7de642feb640d04491409c50
Mary As Of
2026-07-25
Accession
0001731122-26-000390
CIK
0001762239
Mary Filing Date
2026-03-13
Filing Currency
USD
Internal Discount
40.1%
Source State
Verified
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=8f67c1da7de642feb640d04491409c50; mary_as_of=2026-07-25; mary_filing_date=2026-03-13; mary_accession=0001731122-26-000390; mary_cik=0001762239; gnni_supporting_filing_date=2026-03-13; internal_discount=0.400929; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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