2024 Q1 - Quarterly Report

UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION WASHINGTON,D.C.20549 FORM10-Q (MarkOne) oQUARTERLYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 forthequarterlyperiodendedMarch31,2024OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 forthetransitionperiodfromto Commissionfilenumber001-41267 AMERICANREBELHOLDINGS,INC. (Exactnameofregistrantasspecifiedinitscharter) Nevada47-3892903 (Stateorotherjurisdiction ofincorporationororganization) (I.R.S.EmployerIdentificationNo.) 5115MarylandWay,Suite303 Brentwood,Tennessee37027 (Addressofprincipalexecutiveoffices)(ZipCode)Registrant’stelephonenumber,includingareacode:(833)267-3235 SecuritiesregisteredpursuanttoSection12(b)oftheAct: Titleofeachclass TradingSymbol(s) Nameofeachexchangeonwhichregistered CommonStock AREB TheNasdaqStockMarketLLC CommonStockPurchaseWarrants AREBW TheNasdaqStockMarketLLC Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.Yes☒No☐ IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles).Yes☒No☐ Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,asmallerreportingcompany,oranemerginggrowthcompany.Seedefinitionsof“largeacceleratedfiler,”“acceleratedfiler,”“smallerreportingcompany,”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct. Largeacceleratedfiler ☐ Acceleratedfiler ☐ Non-acceleratedfiler ☒ Smallerreportingcompany ☒ Emerginggrowthcompany ☐ Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.☐ Indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinrule12b-2oftheExchangeAct).Yes☐No☒ Thenumberofsharesoftheregistrant’scommonstockoutstandingasofMay6,2024,was5,947,643shares,whichincludes67,723sharesofcommonstockauthorizedbutunissuedasofthisdate. AMERICANREBELHOLDINGS,INC. INDEXTOQUARTERLYREPORTONFORM10-Q PageNo. PARTI.FINANCIALINFORMATION 3 Item1.InterimCondensedConsolidatedFinancialStatements(unaudited) 3 CondensedConsolidatedBalanceSheetsofAmericanRebelHoldings,Inc.atMarch31,2024(unaudited)andDecember31,2023(audited) 3 CondensedConsolidatedStatementsofOperationsofAmericanRebelHoldings,Inc.forthethreemonthsendedMarch31,2024and2023(unaudited) 4 CondensedConsolidatedStatementsofStockholdersEquity(Deficit)ofAmericanRebelHoldings,Inc.forthethreemonthsendedMarch31,2024and2023(unaudited) 5 CondensedConsolidatedStatementsofCashFlowsofAmericanRebelHoldings,Inc.forthethreemonthsendedMarch31,2024and2023(unaudited) 6 NotestotheCondensedFinancialStatements(unaudited) 7 Item2.Management’sDiscussionandAnalysis 28 Item3.QuantitativeandQualitativeDisclosuresaboutMarketRisk. 39 Item4.ControlsandProcedures 39 PARTII.OTHERINFORMATION 39 Item1.LegalProceedings 39 Item1A.RiskFactors 40 Item2.UnregisteredSalesofEquitySecuritiesandUseofProceeds 40 Item3.DefaultsuponSeniorSecurities 41 Item4.MineSafetyDisclosure 41 Item5.OtherInformation 41 Item6.Exhibits 41 Signatures 44 2 PartI.FinancialInformation Item1.-InterimCondensedConsolidatedFinancialStatements(unaudited) AMERICANREBELHOLDINGS,INC. UNAUDITEDCONDENSEDCONSOLIDATEDBALANCESHEETS March31,2024 December31,2023 (audited) ASSETSCURRENTASSETS:Cashandcashequivalents $674,893 $1,147,696 Accountsreceivable 2,967,435 2,816,541 Prepaidexpense 208,405 190,933 Inventory 6,510,731 5,787,993 Inventorydeposits 315,084 315,083 TotalCurrentAssets 10,676,548 10,258,246 PropertyandEquipment,net 335,108 360,495 OTHERASSETS:Leasedepositsandother 82,832 83,400 Right-of-useleaseassets 1,618,449 1,946,567 Goodwill 2,000,000 2,000,000 TotalOtherAssets 3,701,281 4,029,967 TOTALASSETS $14,712,937 $14,648,708 LIABILITIESANDSTOCKHOLDERS’EQUITY(DEFICIT)CURRENTLIABILITIES:Accountspayableandotherpayables $2,459,045 $1,978,768 Accruedexpenses 316,201 271,076 Loan–Officer–relatedparty 396,507 45,332 Loans–Workingcapital 2,675,750 1,954,214 Lineofcredit 1,818,441 1,456,929 Right-of-useleaseliabilities,current 785,672 1,039,081 TotalCurrentLiabilities 8,451,616 6,745,400 Right-of-useleaseliabilities,long-term 832,777 907,486 TOTALLIABILITIES 9,284,393 7,652,886 STOCKHOLDERS’EQUITY(DEFICIT):Preferredstock,$0.001parvalue;10,000,000sharesauthorized;200,000,and200,000issuedandoutstanding,respectivelyatMarch31,2024andDecember31,2023SeriesAPreferredShares 125 125 SeriesBPreferredShares 75 75 CommonStock,$0.001parvalue;600,000,000sharesauthorized;22,129,920and9,004,920issuedandoutstanding,respectivelyatMarch31,2024andDecember31,2023 22,130 9,