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August 2022
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Cover - USD ($) $ in Millions | 12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2021 | Dec. 31, 2020 | Mar. 30, 2022 | Jun. 30, 2021 | |
Cover [Abstract] | ||||
Document Type | 10-K | |||
Amendment Flag | false | |||
Document Annual Report | true | |||
Document Transition Report | false | |||
Document Period End Date | Dec. 31, 2021 | |||
Document Fiscal Period Focus | FY | |||
Document Fiscal Year Focus | 2021 | |||
Current Fiscal Year End Date | --12-31 | |||
Entity File Number | 001-38286 | |||
Entity Registrant Name | ENVERICBIOSCIENCES, INC. | |||
Entity Central Index Key | 0000890821 | |||
Entity Tax Identification Number | 95-4484725 | |||
Entity Incorporation, State or Country Code | DE | |||
Entity Address, Address Line One | 4851 Tamiami Trail N | |||
Entity Address, Address Line Two | Suite 200 | |||
Entity Address, City or Town | Naples | |||
Entity Address, State or Province | FL | |||
Entity Address, Postal Zip Code | 34103 | |||
City Area Code | (239) | |||
Local Phone Number | 302-1707 | |||
Title of 12(b) Security | Common Stock, $0.01 par value per share | |||
Trading Symbol | ENVB | |||
Security Exchange Name | NASDAQ | |||
Entity Well-known Seasoned Issuer | No | |||
Entity Voluntary Filers | No | |||
Entity Current Reporting Status | Yes | |||
Entity Interactive Data Current | Yes | |||
Entity Filer Category | Non-accelerated Filer | |||
Entity Small Business | true | |||
Entity Emerging Growth Company | false | |||
Entity Shell Company | false | |||
Entity Public Float | $ 51.0 | |||
Entity Common Stock, Shares Outstanding | 52,585,120 | |||
ICFR Auditor Attestation Flag | false | |||
Auditor Name | Friedman LLP | Marcum LLP | ||
Auditor Firm ID | 711 | 688 | ||
Auditor Location | East Hanover, New Jersey | NewYork, NY |
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Enveric Biosciences, Inc..
Enveric Biosciences, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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On January 12, 2021, we entered into a Securities Purchase Agreement (the "January 2021 Purchase Agreement") with Alpha, The Hewlett Fund LP, Alto Opportunity Master Fund, SPC - Segregated Master Portfolio B ("Alto"), Iroquois Master Fund Ltd., Iroquois Capital Investment Group LLC and Hudson Bay Master Fund Ltd (collectively, the "Subsequent Investors"), pursuant to which the Company issued and sold in a registered direct offering (the "January 2021 Direct Offering") an aggregate of 2,221,334 shares of our Common Stock at an offering price of $4.5018 per share, for gross proceeds of approximately $10,000,000 before the deduction of fees and offering expenses.
A holder of a Pre-funded Warrant may not exercise any portion of such holder's Pre-funded Warrants to the extent that the holder, together with its affiliates, would beneficially own more than 4.99% (or, at the election of the holder, 9.99%) of the Company's outstanding shares of Common Stock immediately after exercise (the "Beneficial Ownership Limitation"), except that upon at least 61 days' prior notice from the holder to the Company, the holder may increase the Beneficial Ownership Limitation to up to 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to the exercise.
We anticipate that our general and administrative expenses will increase in the future as they relate to audit, legal, regulatory, and tax-related services associated with maintaining compliance with exchange listing and Securities and Exchange Commission requirements, director and officer liability insurance, investor relations costs and other costs associated with being a public company.
-56- -56- General and administrative expenses consist principally of salaries, benefits and related costs such as share-based compensation for personnel and consultants in executive, finance, business development, corporate communications and human resource functions, facility costs not otherwise included in research and development expenses, accounting and audit costs, tax compliance costs, SEC compliance costs, investor relation costs, training and conference costs, insurance costs and legal fees.
In connection with the Offer,...Read more
In connection with the Offer,...Read more
The Company's material cash requirements...Read more
Our operating expenses include, without...Read more
Higher rates of price inflation,...Read more
This offering was made pursuant...Read more
-63- -63- This offering was...Read more
This offering was made pursuant...Read more
-54- -54- At the effective...Read more
Net cash used in operating...Read more
Net cash provided by financing...Read more
Pursuant to the Underwriting Agreement,...Read more
On February 14, 2022, the...Read more
This change was primarily driven...Read more
Pursuant to the January 2021...Read more
Pursuant to the February 2021...Read more
The income tax benefit was...Read more
The net proceeds to Enveric...Read more
The net proceeds to the...Read more
Pursuant to the terms of...Read more
Pursuant to the terms of...Read more
The amendments in this ASU...Read more
There can be no assurances...Read more
The Company intends to seek...Read more
Operating expenses increased to $64,623,420...Read more
-61- -61- On May 24,...Read more
Notwithstanding, we expect that we...Read more
At the Effective Time, holders...Read more
While the letter has no...Read more
-58- -58- The following table...Read more
In October 2020, the FASB...Read more
This analysis required significant judgments,...Read more
ASU 2019-12 is effective for...Read more
As a result, the Company...Read more
The shares, the Pre-funded Warrants,...Read more
-67- -67- The shares were...Read more
Intangible assets consist of the...Read more
Decreases in the Company's price...Read more
These expenses have increased in...Read more
During the year ended December...Read more
In addition, Enveric granted the...Read more
In addition, Enveric granted the...Read more
In addition, Enveric granted the...Read more
We have identified certain accounting...Read more
In addition, there is an...Read more
Psybrary and Patent Applications intangible...Read more
The adoption of the new...Read more
The adoption of the new...Read more
The duration, costs and timing...Read more
To move these programs forward...Read more
The fair value of these...Read more
On January 14, 2021, the...Read more
At closing, Enveric received net...Read more
At closing, Enveric received net...Read more
At closing, Enveric received net...Read more
At closing, Enveric received net...Read more
There was no goodwill or...Read more
Pursuant to ASU 2017-04, the...Read more
As of December 31, 2021,...Read more
The change in fair value...Read more
Furthermore, on February 18, 2022,...Read more
On February 18, 2022, the...Read more
On February 18, 2022, the...Read more
There are no assurances that...Read more
Additionally, at the effective time...Read more
During the year ended December...Read more
On February 11, 2021, the...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Enveric Biosciences, Inc. provided additional information to their SEC Filing as exhibits
Ticker: ENVB
CIK: 890821
Form Type: 10-K Annual Report
Accession Number: 0001493152-22-008510
Submitted to the SEC: Thu Mar 31 2022 4:43:16 PM EST
Accepted by the SEC: Thu Mar 31 2022
Period: Friday, December 31, 2021
Industry: Semiconductors And Related Devices