secwatch.observer — SEC 8-K summary
======================================

Issuer:     Axil Brands, Inc. (AXIL)
CIK:        0001718500
Form:       8-K/A
Filed at:   2022-07-07T23:59:59+00:00
Accession:  0001520138-22-000283
Event type: m_and_a
Sentiment:  negative
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reviv3 Procare completes acquisition of Axil; filed financials show Axil's 2021 net loss of $2.4M and going concern
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718500/000152013822000283/0001520138-22-000283-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718500/000152013822000283/rviv-20220616_8ka1.htm
  HTML page:      https://secwatch.observer/filing/0001520138-22-000283

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer