FREE SHIPPING - ON ALL US ORDERS OVER $50

Highlights for the Quarter Ended February 29, 2024

  • Net Sales (revenue) increased 14.4% to approximately $6.47 million in the third quarter, as compared to the prior year period.

  • Gross profit as a percentage of sales was 71.5% in the third quarter, as compared to 74.6% for the prior year period.

  • Operating expenses as a percentage of net revenue were 73.1% in the third quarter, compared to 70.7% for the prior year period.

  • Loss before provision for income taxes was $46,345 and benefit provision from income taxes was $827,436 in the third quarter.

  • Reported third quarter net income of $781,091 or $0.04 on a fully diluted basis compared to $162,048 or $0.01 for the prior year period.

Key Updates Since AXIL’s Last Quarterly Earnings Release

  • As part of our rebranding the Company changed its name to AXIL Brands, Inc. and stock ticker symbol to “AXIL”.

  • Completed uplist to the NYSE American Stock Exchange.

  • In March 2024, AXIL repurchased 207,748,250 shares of Series A preferred stock equivalent, in the aggregate, to 10,387,413 shares of the Company’s common stock on an as converted basis resulting in the reduction of approximately 83% of the Company’s outstanding Series A preferred shares or approximately 55% of the Company’s total outstanding shares on a fully diluted basis.

“We are extremely pleased with our business performance and the significant objectives achieved during this quarter. Our successful listing on the NYSE American stock exchange and recent repurchase of our Series A preferred shares enhances our ability to execute our enterprise growth strategy and unlock value for our shareholders.” Commented Jeff Toghraie, Chairman and Chief Executive Officer. “Looking ahead, we remain committed to expansion into new markets, optimizing operations and creating sustainable long term growth.”

AXIL BRANDS, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS

 

 

 

 

 

 

 

 

 

 

 

February 29, 2024

 

May 31, 2023

 

 

(Unaudited)

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

 

 

 

Cash

 

$

4,887,567

 

 

$

4,832,682

 

Accounts receivable, net

 

 

719,504

 

 

 

417,016

 

Inventory, net

 

 

3,443,293

 

 

 

1,311,864

 

Due from related party

 

 

18,536

 

 

 

 

Prepaid expenses and other current assets

 

 

656,328

 

 

 

801,360

 

Deferred tax asset

 

 

234,161

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Current Assets

 

 

9,959,389

 

 

 

7,362,922

 

 

 

 

 

 

 

 

 

 

OTHER ASSETS:

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

212,146

 

 

 

157,463

 

Intangible assets, net

 

 

324,549

 

 

 

382,674

 

Right of use asset

 

 

53,224

 

 

 

101,845

 

Other assets

 

 

12,195

 

 

 

12,195

 

Goodwill

 

 

2,152,215

 

 

 

2,152,215

 

 

 

 

 

 

 

 

 

 

Total Other Assets

 

 

2,754,329

 

 

 

2,806,392

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

$

12,713,718

 

 

$

10,169,314

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

 

Accounts payable

 

$

1,890,844

 

 

$

908,606

 

Customer deposits

 

 

37,140

 

 

 

183,688

 

Equipment payable, current

 

 

 

 

 

2,200

 

Contract liabilities, current

 

 

880,450

 

 

 

827,106

 

Notes payable, current

 

 

3,310

 

 

 

172,588

 

Due to related party

 

 

 

 

 

158,072

 

Lease Liability, current

 

 

54,322

 

 

 

65,824

 

Income Tax Liability

 

 

68,019

 

 

 

230,913

 

Other current liabilities

 

 

307,794

 

 

 

305,664

 

 

 

 

 

 

 

 

 

 

Total Current Liabilities

 

 

3,241,879

 

 

 

2,854,661

 

 

 

 

 

 

 

 

 

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

 

Notes payable, long term

 

 

143,840

 

 

 

 

Lease liability, long term

 

 

 

 

 

36,752

 

Contract liabilities, long term

 

 

541,108

 

 

 

605,942

 

 

 

 

 

 

 

 

 

 

Total Long Term Liabilities

 

 

684,948

 

 

 

642,694

 

 

 

 

 

 

 

 

 

 

Total Liabilities

 

 

3,926,827

 

 

 

3,497,355

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies (see Note 11)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS' EQUITY:

 

 

 

 

 

 

 

 

Preferred stock, $0.0001 par value; 300,000,000 shares authorized; 250,000,000 shares issued and outstanding as of February 29, 2024 and May 31, 2023, respectively

 

 

25,000

 

 

 

25,000

 

Common stock, $0.0001 par value: 450,000,000 shares authorized; 5,878,939 and 5,863,939 shares issued, and outstanding as of February 29, 2024 and May 31, 2023, respectively

 

 

588

 

 

 

586

 

Additional paid-in capital

 

 

10,274,677

 

 

 

10,113,365

 

Accumulated deficit

 

 

(1,513,374

)

 

 

(3,466,992

)

 

 

 

 

 

 

 

 

 

Total Stockholders' Equity

 

 

8,786,891

 

 

 

6,671,959

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

 

$

12,713,718

 

 

$

10,169,314

 

 

AXIL BRANDS, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

For the Nine Months Ended

 

 

February 29,

 

February 28,

 

February 29,

 

February 28,

 

 

2024

 

2023

 

2024

 

2023

 

 

 

 

 

 

 

 

 

Sales, net

 

$

6,469,343

 

 

$

5,656,461

 

 

$

20,997,289

 

 

$

16,625,818

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

1,845,017

 

 

 

1,437,976

 

 

 

5,467,458

 

 

 

4,085,645

 

 

 

 

 

 

 

 

25

%

 

 

26

%

 

 

25

%

Gross profit

 

 

4,624,326

 

 

 

4,218,485

 

 

 

15,529,831

 

 

 

12,540,173

 

 

 

 

 

 

 

 

75

%

 

 

74.0

%

 

 

75

%

OPERATING EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales and marketing

 

 

3,398,949

 

 

 

3,173,383

 

 

 

10,278,570

 

 

 

8,250,257

 

Compensation and related taxes

 

 

228,869

 

 

 

360,802

 

 

 

713,504

 

 

 

1,214,213

 

Professional and consulting

 

 

552,922

 

 

 

216,687

 

 

 

1,471,025

 

 

 

832,958

 

General and administrative

 

 

547,465

 

 

 

251,025

 

 

 

1,732,942

 

 

 

841,761

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Operating Expenses

 

 

4,728,205

 

 

 

4,001,897

 

 

 

14,196,041

 

 

 

11,139,189

 

 

 

 

 

 

 

 

71

%

 

 

68

%

 

 

67

%

(LOSS) INCOME FROM OPERATIONS

 

 

(103,879

)

 

 

216,588

 

 

 

1,333,790

 

 

 

1,400,984

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER INCOME (EXPENSE):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain on debt settlement

 

 

 

 

 

 

 

 

79,182

 

 

 

50,500

 

Other income

 

 

6,114

 

 

 

 

 

 

19,138

 

 

 

 

Interest income

 

 

52,915

 

 

 

6,721

 

 

 

129,233

 

 

 

13,262

 

Interest expense and other finance charges

 

 

(1,495

)

 

 

(1,714

)

 

 

(4,779

)

 

 

(4,927

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income, Net

 

 

57,534

 

 

 

5,007

 

 

 

222,774

 

 

 

58,835

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(LOSS) INCOME BEFORE PROVISION FOR INCOME TAXES

 

 

(46,345

)

 

 

221,595

 

 

 

1,556,564

 

 

 

1,459,819

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Benefit) Provision for income taxes

 

 

(827,436

)

 

 

59,547

 

 

 

(397,054

)

 

 

395,344

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME

 

$

781,091

 

 

$

162,048

 

 

$

1,953,618

 

 

$

1,064,475

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME PER COMMON SHARE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.13

 

 

$

0.03

 

 

$

0.33

 

 

$

0.19

 

Diluted

 

$

0.04

 

 

$

0.01

 

 

$

0.11

 

 

$

0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

5,863,939

 

 

 

5,849,501

 

 

 

5,863,939

 

 

 

5,574,312

 

Diluted

 

 

18,576,914

 

 

 

18,629,501

 

 

 

18,569,140

 

 

 

17,497,737

 

 

AXIL BRANDS, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended February 29, 2024

 

 

 

 

Common Stock

 

Additional

 

 

 

Total

 

 

Preferred Stock

 

Issued/Issuable

 

Paid-in

 

Accumulated

 

Stockholders'

 

 

Shares

 

Amount

 

Shares

 

Amount

 

Capital

 

Deficit

 

Equity

Balance, May 31, 2023

 

 

250,000,000

 

 

$

25,000

 

 

 

5,863,939

 

 

$

586

 

 

$

10,113,365

 

 

$

(3,466,992

)

 

$

6,671,959

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

153,320

 

 

 

 

 

 

153,320

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock awards

 

 

 

 

 

 

 

 

15,000

 

 

 

2

 

 

 

7,992

 

 

 

 

 

 

7,994

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,953,618

 

 

 

1,953,618

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, February 29, 2024

 

 

250,000,000

 

 

$

25,000

 

 

 

5,878,939

 

 

$

588

 

 

$

10,274,677

 

 

$

(1,513,374

)

 

$

8,786,891

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended February 29, 2024

 

 

 

 

 

Common Stock

 

Additional

 

 

 

Total

 

 

Preferred Stock

 

Issued/Issuable

 

Paid-in

 

Accumulated

 

Stockholders'

 

 

Shares

 

Amount

 

Shares

 

Amount

 

Capital

 

Deficit

 

Equity

Balance, November 30, 2023

 

 

250,000,000

 

 

$

25,000

 

 

 

5,863,939

 

 

$

586

 

 

$

10,215,580

 

 

$

(2,294,465

)

 

$

7,946,701

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

51,105

 

 

 

 

 

 

51,105

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock awards

 

 

 

 

 

 

 

 

15,000

 

 

 

2

 

 

 

7,992

 

 

 

 

 

 

7,994

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

— 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

781,091

 

 

 

781,091

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, February 29, 2024

 

 

250,000,000

 

 

$

25,000

 

 

 

5,878,939

 

 

$

588

 

 

$

10,274,677

 

 

$

(1,513,374

)

 

$

8,786,891

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended February 28, 2023

 

 

 

 

 

 

Common Stock

 

Additional

 

 

 

Total

 

 

Preferred Stock

 

Issued/Issuable

 

Paid-in

 

Accumulated

 

Stockholders'

 

 

Shares

 

Amount

 

Shares

 

Amount

 

Capital

 

Deficit

 

Equity

Balance, May 31, 2022

 

 

 

 

$

 

 

 

2,107,385

 

 

$

211

 

 

$

5,476,068

 

 

$

(5,291,567

)

 

$

184,712

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares issued for acquisition of business

 

 

250,000,000

 

 

 

25,000

 

 

 

3,659,195

 

 

 

366

 

 

 

3,982,115

 

 

 

 

 

 

4,007,481

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

155,067

 

 

 

 

 

 

155,067

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares to be issued for cash

 

 

 

 

 

 

 

 

97,359

 

 

 

9

 

 

 

447,840

 

 

 

 

 

 

447,849

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,064,475

 

 

 

1,064,475

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, February 28, 2023

 

 

250,000,000

 

 

$

25,000

 

 

 

5,863,939

 

 

$

586

 

 

$

10,061,090

 

 

$

(4,227,092

)

 

$

5,859,584

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended February 28, 2023

 

 

 

 

 

 

Common Stock

 

Additional

 

 

 

Total

 

 

Preferred Stock

 

Issued/Issuable

 

Paid-in

 

Accumulated

 

Stockholders'

 

 

Shares

 

Amount

 

Shares

 

Amount

 

Capital

 

Deficit

 

Equity

Balance, November 30, 2022

 

 

250,000,000

 

 

$

25,000

 

 

 

5,837,899

 

 

$

583

 

 

$

9,910,371

 

 

$

(4,389,140

)

 

$

5,546,814

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30,922

 

 

 

 

 

 

30,922

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares to be issued for cash

 

 

 

 

 

 

 

 

26,040

 

 

 

3

 

 

 

119,797

 

 

 

 

 

 

119,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

162,048

 

 

 

162,048

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, February 28, 2023

 

 

250,000,000

 

 

$

25,000

 

 

 

5,863,939

 

 

$

586

 

 

$

10,061,090

 

 

$

(4,227,092

)

 

$

5,859,584

 

 

AXIL BRANDS, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended

 

 

February 29,

 

February 28,

 

 

2024

 

2023

 

 

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

 

 

Net income

 

$

1,953,618

 

 

$

1,064,475

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

83,634

 

 

 

66,944

 

Bad debts

 

 

143,395

 

 

 

13,782

 

Stock based compensation

 

 

161,314

 

 

 

155,067

 

Gain on settlement

 

 

(79,182

)

 

 

(50,500

)

Provision (benefit) for deferred income taxes

 

 

(397,054

)

 

 

 

Change in operating assets and liabilities:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

(445,883

)

 

 

(134,622

)

Inventory

 

 

(2,131,429

)

 

 

297,213

 

Prepaid expenses and other current assets

 

 

145,032

 

 

 

(296,787

)

Deposits

 

 

 

 

 

(3,810

)

Accounts payable and accrued expenses

 

 

1,061,420

 

 

 

87,879

 

Other current liabilities

 

 

(144,052

)

 

 

860,973

 

Contract liabilities

 

 

(11,490

)

 

 

259,362

 

 

 

 

 

 

 

 

 

 

NET CASH PROVIDED BY OPERATING ACTIVITIES

 

 

339,323

 

 

 

2,319,976

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

 

 

 

Cash acquired on business acquisition

 

 

 

 

 

1,066,414

 

Purchases of property and equipment

 

 

(80,192

)

 

 

(65,650

)

 

 

 

 

 

 

 

 

 

NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES

 

 

(80,192

)

 

 

1,000,764

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

Cash raised for common stock to be issued

 

 

 

 

 

447,850

 

Repayment of equipment financing

 

 

(2,200

)

 

 

(2,200

)

Repayment of note payable

 

 

(25,438

)

 

 

(22,797

)

Advances (repayments) to/from a related party

 

 

(176,608

)

 

 

63,008

 

 

 

 

 

 

 

 

 

 

NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES

 

 

(204,246

)

 

 

485,861

 

 

 

 

 

 

 

 

 

 

NET INCREASE IN CASH

 

 

54,885

 

 

 

3,806,601

 

 

 

 

 

 

 

 

 

 

CASH - Beginning of period

 

 

4,832,682

 

 

 

373,731

 

 

 

 

 

 

 

 

 

 

CASH - End of period

 

$

4,887,567

 

 

$

4,180,332

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

 

 

 

 

 

 

 

 

Cash paid during the period for:

 

 

 

 

 

 

 

 

Interest

 

$

4,681

 

 

$

3,173

 

Income taxes

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

Stock issued for asset purchase agreement

 

$

 

 

$

4,007,480

 

Right of use assets recognized as lease liability

 

$

 

 

$

131,970

 

Tangible assets (excluding cash) acquired in business combination

 

$

 

 

$

1,740,729

 

Intangible assets acquired in business combination

 

$

 

 

$

456,945

 

Goodwill acquired in business combination

 

$

 

 

$

2,152,215

 

Liabilities assumed in business combination

 

$

 

 

$

1,408,823

 

 

About AXIL

AXIL (NYSE American) is an emerging global e-commerce consumer products company. The Company is a manufacturer and marketer of premium hearing enhancement and protection products, including ear plugs, earmuffs, and ear buds, under the AXIL® brand and premium hair and skincare products under its in-house Reviv3 Procare brand - selling products in the United States, Canada, the European Union and throughout Asia. To learn more, please visit the Company's website at www.reviv3.com and, for the AXIL® brand, visit www.axilbrands.com.

Forward-Looking Statements

This press release contains a number of forward-looking statements within the meaning of the federal securities laws. The use of words such as “believe,” “expect,” “continue,” “will,” “prepare,” “should,” and ”focus,” among others, generally identify forward-looking statements. These forward-looking statements are based on currently available information, and management’s beliefs, projections, and current expectations, and are subject to a number of significant risks and uncertainties, many of which are beyond management’s control and may cause the Company’s results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward- looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things: (i) the Company’s ability to grow net sales as anticipated and perform in accordance with guidance; (ii) our ability to generate sufficient revenue to support the Company’s operations and to raise additional funds or obtain other forms of financing as needed on acceptable terms, or at all; (iii) potential difficulties or delays the Company may experience in implementing its cost savings and efficiency initiatives, including integrating the AXIL® brand; (iv) the Company’s ability to compete effectively with other hair and skincare companies and hearing enhancement and protection companies; (v) the concentration of the Company’s customers, potentially increasing the negative impact to the Company by changing purchasing or selling patterns; (vi) changes in laws or regulations in the United States and/or in other major markets, such as China, in which the Company operates, including, without limitation, with respect to taxes, tariffs, trade policies or product safety, which may increase the Company product costs and other costs of doing business, and reduce the Company’s earnings; and (vii) the impact of unstable market and general economic conditions on the Company’s business, financial condition and stock price, including inflationary cost pressures, the possibility of an economic recession and other macroeconomic factors, geopolitical events, and uncertainty, decreased discretionary consumer spending, supply chain disruptions and constraints, labor shortages, ongoing economic disruption, including the effects of the Ukraine-Russia conflict and the Israel-Hamas conflict, and other downturns in the business cycle or the economy. There can be no assurance as to any of these matters, and potential investors are urged to consider these factors carefully in evaluating the forward-looking statements. Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s filings with the U.S. Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Except as required by law, the Company does not assume any obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

Investor Relations:
AXIL Investor Relations Team
(888) 638-8883
investors@axilbrands.com

 

Latest Stories

View all

The Risks of Shooting Without Hearing Protection

The Risks of Shooting Without Hearing Protection

With the explosive growth of gun owners in the United States over the last decade, it only makes sense that shooting sports and competitions catering to a new generation of shooters would also be on the rise. Whether USPSA, IDPA,...

Read more

What Makes the Best Hearing Protection for Lawn Care

What Makes the Best Hearing Protection for Lawn Care

Protecting your hearing during lawn care helps prevent long-term damage. AXIL noise-canceling earbuds and earmuffs offer some of the best hearing protection available for lawn care. Their advanced features, such as adaptive noise-canceling technology and customizable fit, make them stand...

Read more

Turkey Hunting Equipment to Maximize Your Experience

Turkey Hunting Equipment to Maximize Your Experience

A lot of expensive equipment isn’t necessarily essential for turkey hunting, however, having good turkey hunting gear can make an experience more enjoyable. For many, open turkey season is a time of joy, tradition, and good sport. Turkey hunters across...

Read more