American Rebel regains NASDAQ compliance, files Q3 report

NASHVILLE - American Rebel Holdings, Inc. (NASDAQ: AREB), known for its branded safes and personal security products, as well as its recent foray into the beverage industry with American Rebel Beer, has announced the successful filing of its overdue Q3 financial report for FY2024. The company reported revenues of $2.3 million for the quarter ended September 30, 2024, and $9.6 million for the nine months ending on the same date. According to InvestingPro data, the company’s trailing twelve-month revenue stands at $14.45 million, with analysts expecting sales growth in the current year despite challenging market conditions. The stock currently trades below its Fair Value, as calculated by InvestingPro’s proprietary models.

After missing the initial November 14, 2024 deadline for its Q3 filing, American Rebel received a notice from NASDAQ on November 22, indicating non-compliance with the exchange’s periodic filing requirements. By January 21, 2025, the company was required to submit a compliance plan to NASDAQ. The timely filing of the Form 10-Q on February 7, 2025, allowed American Rebel to regain compliance, as confirmed by NASDAQ on Monday. InvestingPro analysis reveals the company faces significant financial challenges, with a weak Financial Health Score of 1.3 out of 5 and a concerning current ratio of 0.61.

CEO Andy Ross expressed his gratitude towards the accounting teams and highlighted the pivotal role of Darin Fielding, CFO of subsidiary Champion Safe Co., in achieving regulatory compliance. Fielding’s previous experience as an auditor facilitated coordination with independent auditors GBQ and Eventus Advisory Group’s accounting professionals.

In the upcoming weeks, Ross plans to provide shareholders with an update detailing progress made across business units in the past year. This will include insights into the growth of the American Rebel Beverage business unit, which is responsible for American Rebel Light Beer, and the impact of reorganizing and streamlining product offerings and processes at Champion Safe Co.

American Rebel’s transition into the beverage industry complements its established operations in designing, manufacturing, and marketing safes, personal security, and self-defense products, as well as branded apparel and accessories. More information on the company’s offerings and investor relations can be found on their respective websites.

This news is based on a press release statement, with the forward-looking statements therein reflecting the company’s expectations and projections about future events, subject to risks and uncertainties detailed in American Rebel’s SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2023, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. InvestingPro subscribers have access to 17 additional key insights about American Rebel, including detailed analysis of its debt structure, profitability metrics, and growth prospects.

In other recent news, American Rebel Holdings, Inc. faced a compliance issue with Nasdaq, following a delay in filing its quarterly financial report for the period ending September 30, 2024. The delay was due to the dismissal of its former independent auditor, BF Borgers CPA PC, which led to a breach of Nasdaq’s Listing Rules. The company has since engaged a new auditor, GBQ Partners LLC, to complete reaudits of the financial statements for the years ended December 31, 2023, and 2022, and review the third quarter of 2024.

American Rebel has been given until January 21, 2025, to present a plan to regain compliance. If the plan is accepted, Nasdaq may grant the company until May 19, 2025, to file the overdue report and return to compliance. Amid these developments, the company has also diversified its business with the launch of American Rebel Beer, marking its entry into the beverage industry.

American Rebel has assured stakeholders of its commitment to meet the Nasdaq listing requirements and fulfill its reporting obligations to the SEC. These recent developments reflect the company’s efforts to regain compliance and ensure transparency in their financial reporting.

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