KAVL · Kaival Brands Innovations Group, Inc. · Executive Compensation
Substantial doubt about the company's ability to continue as a going concern.
“We will need significant additional funds to satisfy our outstanding payables, fund our working capital, and fully implement our business plan. U.S. distribution of BIDI® Stick products has ceased. Our ability to continue as a going concern depends on royalty receipts under the PMI License Agreement and our ability to raise additional capital. FDA marketing-denial orders applicable to Bidi's products and the ITC patent proceeding involving those products may continue to affect royalty receipts. All of these factors raise substantial doubt regarding our ability to continue as a going concern.”View the 10-Q filed Sep 14, 2026
One customer — 21% of revenue (the year ended October 31, 2024)
“For the year then ended October 31, 2024, (i) 21% or $1,236,491 of the revenue from the sale of Products, solely consisting of the BIDI® Stick, was generated from QuikTrip Corporation”
One customer — 12% of revenue (the year ended October 31, 2024)
“(ii) 12% or $678,562 was generated from GPM Investments, LLC”
One customer — 11% of revenue (the year ended October 31, 2024)
“(iii) 11% or $655,583 was generated from FAVS Business, LLC”
One customer — 100% of receivables (as of October 31, 2024)
“QuikTrip Corporation with an outstanding balance of $205 accounted for 100% of the total accounts receivable from customers as of October 31, 2024.”
Named-executive compensation from the company's DEF 14A proxy statements — salary, bonus, stock and option awards, non-equity incentive, and the company-reported total per executive per fiscal year, exactly as disclosed in the Summary Compensation Table.
| Executive | Role | Total |
|---|---|---|
| Nirajkumar Patel | Former Interim CEO , Chief Science & Regulatory Officer and Director | $241,499 |
| Eric Morris | Interim CFO | $170,460 |
| Eric Mosser | former CEO, President, and Director | $129,549 |
| Stephen Sheriff | Former COO | $88,352 |
| Thomas Metzler | Former CFO | $83,112 |
| Mark Thoenes | Interim CEO and Director | $74,583 |
| Executive | Role | Total |
|---|---|---|
| Eric Mosser | former CEO, President, and Director | $999,941 |
| Nirajkumar Patel | Chief Science & Regulatory Officer, and Director | $640,994 |
| Mark Thoenes | former Interim CFO | $328,700 |
| Stephen Sheriff | Former COO | $229,836 |
| Thomas Metzler | Former CFO | $211,076 |
| Eric Morris | Interim CFO | $126,837 |
| Executive | Role | Total |
|---|---|---|
| Nirajkumar Patel | Chief Science & Regulatory Officer, and Director | $2,514,282 |
| Eric Mosser | former CEO, President, and Director | $2,196,984 |
| Mark Thoenes | former Interim CFO | $658,199 |
| Stephen Sheriff | Former COO | $60,250 |
| Executive | Role | Total |
|---|---|---|
| Eric Mosser | COO, Secretary, and Director | $463,799 |
| Nirajkumar Patel | President, CEO, Treasurer, and Director | $428,258 |
| Executive | Role | Total |
|---|---|---|
| Nirajkumar Patel | President, CEO, Treasurer, and Director | $292,385 |
| Eric Mosser | COO, Secretary, and Director | $260,385 |
| Mark Thoenes | Interim CFO | $0 |
Executive changes
| Person | Role | Change | Filed |
|---|---|---|---|
| Mark Thoenes | Chairman and Director | Appointed | 2026-02-05 |
| Eric Morris | Chief Financial Officer and Director | Appointed | 2026-02-05 |
| Eric Mosser | Chief Executive Officer and Director | Appointed | 2026-02-05 |
| Ketankumar Patel | Director | Resigned | 2026-02-05 |
| Ashesh Modi | Director | Resigned | 2026-02-05 |
| Mark Thoenes | interim-CEO | Resigned | 2026-02-05 |
| David Worner | Director | Resigned | 2026-02-05 |
| Eric Morris | Interim Chief Financial Officer | Appointed | 2024-11-05 |
| Mark Thoenes | Interim Chief Executive Officer | Appointed | 2024-11-05 |
| Mark Thoenes | interim chief executive officer | Appointed | 2024-09-12 |
| David Worner | Director | Appointed | 2024-04-25 |
| Ketankumar Patel | Board member | Appointed | 2024-04-25 |
| Ketankumar Patel | Board of Directors | Appointed | 2024-04-25 |
| Ashesh Modi | Board of Directors | Appointed | 2024-04-25 |
| Eric Morris | Interim Chief Financial Officer | Appointed | 2024-03-13 |
| Nirajkumar Patel | Chief Executive Officer | Appointed | 2024-03-13 |
| Eric Mosser | President and Interim Chief Executive Officer | Resigned | 2024-03-13 |
| Eric Mosser | President | Appointed | 2024-02-26 |
| George Chuang | Director | Resigned | 2024-02-26 |
| Eric Mosser | Interim Chief Executive Officer | Appointed | 2024-02-26 |
| Roger Brooks | Director | Resigned | 2024-02-26 |
| Stephen Sheriff | Chief Operating Officer | Resigned | 2024-02-26 |
| Barry M. Hopkins | Director | Resigned | 2024-02-26 |
| Barry M. Hopkins | President | Resigned | 2024-02-26 |
| Barry M. Hopkins | Interim Chief Executive Officer | Resigned | 2024-02-26 |