M&A
confidence high
sentiment negative
materiality 0.75
Reviv3 Procare completes acquisition of Axil; filed financials show Axil's 2021 net loss of $2.4M and going concern
Axil Brands, Inc.
- Axil's 2021 net sales $13.6M, net loss $2.4M; 2020 net income $952k.
- Axil had accumulated deficit of $3.04M at Dec 31, 2021; auditor cites going concern doubt.
- Pro forma unaudited financials filed for combined entity as of May 31, 2022.
- Axil's cash used in operations $164k in 2021; equity raised $2.33M from stock issuance.