Bullboard - Stock Discussion Forum Kaival Brands Innovations Group Inc KAVL

Consumer Defensive Food Distribution

Kaival Brands Innovations Group, Inc. is engaged in the sale, marketing, and distribution of electronic nicotine delivery system (ENDS) products, also known as e-cigarettes, in a variety of favors. The Company’s primary product is the Bidi Stick as well as other products manufactured by its affiliate Bidi Vapor LLC (Bidi). It holds the worldwide right to market and distribute the Bidi Stick and... see more

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NDAQ:KAVL - Post Discussion

Kaival Brands Innovations Group Inc > Kaival Brands Reports Fiscal 2022 First Quarter Financial

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Post by AveragePenny on Mar 17, 2022 12:31pm

Kaival Brands Reports Fiscal 2022 First Quarter Financial

Corporate Updates Subsequent to the Fiscal First Quarter 2022

Judicial Stay of Bidi Vapor's Marketing Denial Order ("MDO") was granted on February 1, 2022. The court-ordered stay means that the MDO, which covered the non-tobacco flavored BIDI® Sticks, is not legally in force. Accordingly, Kaival Brands anticipates being able to continue marketing and selling all eleven BIDI® Stick products, subject to the U.S. Food and Drug Administration's ("FDA") enforcement discretion, while Bidi Vapor continues with its merits case challenging the legality of the MDO. FDA has indicated that it is prioritizing enforcement against companies that have either not submitted PMTAs, or whose PMTAs have been refused acceptance or filing by FDA, or whose PMTAs remain subject to MDOs.
The Company regained compliance with Nasdaq's minimum bid price listing requirement pursuant to Nasdaq Listing Rule 5550(a)(2) on February 18, 2022.
The Company continues to pursue international distribution and expects to provide an update in the second quarter of 2022.

[url=https://www.prnewswire.com/news-releases/kaival-brands-reports-fiscal-2022-first-quarter-financial-results-864694489.htmlhttps://www.prnewswire.com/news-releases/kaival-brands-reports-fiscal-2022-first-quarter-financial-results-864694489.html]https://www.prnewswire.com/news-releases/kaival-brands-reports-fiscal-2022-first-quarter-financial-results-864694489.html[/url]