Enveric Biosciences Inc. 2025年季度报告

FORM10-Q If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ If the securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May 14, 2025, the Registrant had2,471,656shares of Common Stock (par value $0.01 per share) outstanding. ENVERIC BIOSCIENCES, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1.BUSINESS AND LIQUIDITY AND OTHER UNCERTAINTIES Nature of Operations Enveric Biosciences, Inc. (“Enveric” or the “Company”) is a biotechnology company dedicated to the development of novelneuroplastogenic small-molecule therapeutics for the treatment of depression, anxiety, addiction, and other psychiatric disorders. Thehead office of the Company is located in Naples, Florida. The Company has the following wholly-owned subsidiaries: Jay Pharma Inc.(“Jay Pharma”), 1306432 B.C. Ltd., 1236567 B.C. Unlimited Liability Company, MagicMed Industries, Inc. (“MagicMed”), Enveric Enveric’s lead program, the EVM301 Series, and its lead drug candidate, EB-003, are intended to offer a first-in-class, newapproach to the treatment of difficult-to-address mental health disorders, mediated by the promotion of neuroplasticity and withoutalso inducing hallucinations in the patient. Previously, Enveric was developing the EVM201 Series, and its lead drug candidate EB-002 (formerly EB-373), for the treatment of neuropsychiatric disorders. The EVM201 series comprised next generation syntheticprodrugs of the active metabolite, psilocin. In the fourth quarter of 2024, Enveric out-licensed the EVM201 Series program to Reverse Stock Split The Company effected a1-for-15 reverse stock split(“Reverse Stock Split”) on January 27, 2025, which began trading on asplit-adjusted basis on January 29, 2025, pursuant to which every15shares of the Company’s issued and outstanding common stockwere reclassified as one share of common stock. The Reverse Stock Split had no impact on the par value of the Company’s commonstock or the authorized number of shares of common stock. Unless otherwise indicated, all share and per share information prior to theReverse Stock Split date of January 29, 2025 in these unaudited condensed consolidated financial statements are retroactively adjusted Going Concern, Liquidity and Other Uncertainties The Company has incurred losses since inception resulting in an accumulated deficit of $108,259,471as of March 31, 2025and further losses are anticipated in the development of its business. Further, the Company has operating cash outflows of $2,391,582for the three months ended March 31, 2025. For the three months ended March 31, 2025, the Company had a loss from operations of$2,187,533. Since inception, being a research and development company, the Company has not yet generated revenue and the In assessing the Company’s ability to continue as a going concern, the Company monitors and analyzes its cash and its abilityto generate sufficient cash flow in the future to support its operating and capital expenditure commitments. At March 31, 2025, theCompany had cash of $4,294,435and working capital of $3,650,434. The Company’s current cash on hand is not sufficient enough tosatisfy its operating cash needs for the 12 months from the filing of this Quarterly Report on Form 10-Q. These conditions raisesubstantial doubt regarding the Company’s ability to continue as a going concern for a period of one year after the date the unauditedcondensed consolidated financial statements are issued. Management’s plan to alleviate the conditions that raise substantial doubt As a result of these factors, management has concluded that there is substantial doubt about the Company’s ability to continueas a going concern for a period of one year after the date of the unaudited condensed consolidated financial statements are issued. The ENVERIC BIOSCIENCES, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principal of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accountingprinciples generally accepted in the United States (“U.S. GAAP”) for interim financial information and Article 8 of Regulation S-X.Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements.Management’s opinion is that all adjustments (consisting of normal accruals) considered necessary for a fair pre