Announcement • May 15
Reborn Coffee, Inc. announced delayed 10-Q filing On 05/14/2026, Reborn Coffee, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 02
Reborn Coffee, Inc. announced delayed annual 10-K filing On 04/01/2026, Reborn Coffee, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Board Change • Mar 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Alex Yeon was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 24
Reborn Coffee, Inc. Receives Non-Compliance Letter from Nasdaq On February 19, 2026, Reborn Coffee, Inc., a Delaware corporation (the Company") received a notification letter (the Letter") from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (Nasdaq") notifying the Company that the Company no longer complies with Nasdaq's independent director, audit committee, and compensation committee requirements as set in Nasdaq Listing Rule 5605. However, consistent with Nasdaq Listing Rules, Nasdaq will provide the Company a cure period in order to regain compliance as follows: (i) until the earlier of the Company's next annual stockholders' meeting or February 13, 2027, or (ii) if the next annual stockholders' meeting is held before August 12, 2026, then the Company must evidence compliance no later than August 12, 2026. The Letter has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market. If the Company does not regain compliance within the prescribed period, Nasdaq will provide written notification that the Company's securities are subject to delisting. The Company may then appeal the Staff's determination to a Hearings Panel pursuant to Nasdaq Listing Rule 5815(a), but there can be no assurance that Nasdaq would grant the Company's request for approval of its compliance plan. The Company, by appointing Charles C. Jeong and Mi Jeong Lee as further described in Item 5.02 below, has remedied all deficiencies under Nasdaq Listing Rule 5605. The Company, by filing this Current Report on Form 8-K, discloses its receipt of the notification from Nasdaq in accordance with Nasdaq Listing Rule 5810(b). Announcement • Jan 07
Reborn Coffee, Inc. announced that it has received $6.500002 million in funding Reborn Coffee, Inc. announced a private placement under Securities Purchase Agreement to issue 1,192,661 Common Shares at a price per share of $ 5.45 for gross proceeds of $6,500,002.45 on January 6, 2026. The transaction includes participation from an accredited investor. Announcement • Nov 15
Reborn Coffee, Inc. announced delayed 10-Q filing On 11/14/2025, Reborn Coffee, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Nov 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Vice Chairman Jung Lim was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 24
Reborn Coffee Announces the Formation of an Advisory Board and Appointment of Hisham Elkoustaf as Chair Reborn Coffee Inc. announced the formation of its new advisory board to drive innovation and growth within the company and appointed Hisham Elkoustaf as its chair. The advisory boards will consist of a diverse group of professionals who will help to shape the strategic direction of Reborn Coffee and ensure that its remain committed to its values of sustainability and quality. Mr. Elkoustaf is an esteemed attorney with over 20 years of experience at the intersection of corporate law, economic development, and foreign policy. He began his career in New York before joining the Office of the General Counsel at the U.S. Department of Commerce. He worked in over ten countries, advising senior government officials and business leaders on legal and trade-related reforms to promote economic growth and attract foreign investment. Mr. Elkoustaf was most recently a senior legal, economic, and policy advisor to a prominent GCC country and General Counsel and Chief Strategy Officer at a professional sports and entertainment company. Mr. Elkoustaf has served on the advisory boards of several entities, including a merchant bank, an investment fund, a family investment office, and a bilateral chamber of commerce. He continues to counsel startups, across sectors, on business development, capital sourcing, and global partnerships. Elkoustaf earned his JD from the University of Pennsylvania law School, a MALD from Tufts University’s Fletcher School of Law & Diplomacy, and a BA in Political Science from Columbia University, where he was a member of the NCAA Division I Men’s soccer team. Announcement • Oct 13
Reborn Coffee, Inc., Annual General Meeting, Nov 20, 2025 Reborn Coffee, Inc., Annual General Meeting, Nov 20, 2025. Location: pryor cashman llp at 7 times square, new york, ny 10036, United States Announcement • Sep 11
Reborn Coffee, Inc. has withdrawn its Follow-on Equity Offering. Reborn Coffee, Inc. has withdrawn its Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Security Name: Pre Funded Warrants
Security Type: Equity Warrant Announcement • Jun 04
Reborn Coffee Receives Nasdaq Notification Regarding Non-Compliance with the Minimum Stockholders' Equity Requirement On May 29, 2025, Reborn Coffee, Inc. received a notification letter (the ‘Letter’) from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that its stockholders’ equity had fallen below the $2,500,000 required minimum for continued listing set forth in Nasdaq Listing Rule 5550(b)(1) (the ‘Equity Rule’). The Company’s stockholders’ equity was $415,582 as of March 31, 2025, as reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2025. The Letter also noted that as of May 29, 2025, the Company did not meet the alternatives of market value listed securities or net income from continuing operations pursuant to the Equity Rule. The Letter has no immediate effect on the continued listing of the Company’s common stock on Nasdaq. The Company has until July 13, 2025 (45 calendar days from the date of the Letter) to submit a plan to regain compliance with the Equity Rule. If the plan is accepted, Nasdaq will provide written confirmation and can grant an extension up to November 25, 2025 (180 calendar days from the date of the Letter) to evidence compliance. If Nasdaq rejects the plan, the Company will have the opportunity to appeal the decision to a Hearings Panel pursuant to Nasdaq Listing Rule 5815(a), but there can be no assurance that Nasdaq would grant the Company’s request for approval of its compliance plan. The Company is monitoring it stockholders’ equity and may, if appropriate, evaluate various courses of action to achieve compliance with the minimum stockholders’ equity required to comply with the Equity Rule. However, there can be no assurance that the Company will be able to regain compliance with the Equity Rule or will otherwise be in compliance with other Nasdaq listing criteria. The Company, by filing this Current Report on Form 8-K, discloses its receipt of the notification from Nasdaq in accordance with Nasdaq Listing Rule 5810(b). Announcement • May 17
Reborn Coffee, Inc. announced delayed 10-Q filing On 05/16/2025, Reborn Coffee, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Nov 20
Reborn Coffee, Inc. to Report Q3, 2024 Results on Nov 20, 2024 Reborn Coffee, Inc. announced that they will report Q3, 2024 results on Nov 20, 2024 Announcement • Nov 16
Reborn Coffee, Inc. announced delayed 10-Q filing On 11/15/2024, Reborn Coffee, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Nov 14
Reborn Coffee, Inc. has filed a Follow-on Equity Offering. Reborn Coffee, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Security Name: Pre Funded Warrants
Security Type: Equity Warrant Announcement • Nov 07
Reborn Coffee, Inc. (NasdaqCM:REBN) completed the acquisition of 58% stake in Bbang Ssaem Bakery. Reborn Coffee, Inc. (NasdaqCM:REBN) signed a Memorandum of Understanding to acquire Bbang Ssaem Bakery on July 16, 2024. Immediately, Reborn Korea will be upgrading the Bbang Ssaem Coffee to the premier coffee by distributing the Reborn's proprietary roasted coffee to all the Bbang Ssaem locations in Korea. Reborn Coffee is set to integrate Bbang Ssaem Bakery's extensive retail operations in South Korea & US. Bbang Ssaem bakery is renowned for their delicious treats and welcoming atmospheres, positioning them as beloved community gathering places.
Reborn Coffee, Inc. (NasdaqCM:REBN) completed the acquisition of 58% stake in Bbang Ssaem Bakery on November 6, 2024. Announcement • Sep 16
Reborn Coffee, Inc., Annual General Meeting, Oct 24, 2024 Reborn Coffee, Inc., Annual General Meeting, Oct 24, 2024. Location: offices of pryor cashman llp at 7 times square, ny 10036, new york, United States Announcement • Aug 29
Reborn Coffee, Inc. announced that it expects to receive $0.5 million in funding from Innotech Co., Ltd. Reborn Coffee, Inc. announced a private placement to issue convertible promissory note in the original principal amount of $500,000, to Quen Inno Tech Co., Ltd. The Holder paid a purchase price of $500,000 to the Company for the Promissory Note. The Promissory Note accrues interest at an annual rate of 0%; however, the interest rate will increase to an annual rate of 10% upon the occurrence of an event of default. The promissory note convert into Common Stock at a price equal to $3.36 per share. The Maturity Date shall be August 28, 2025. Announcement • Aug 16
Reborn Coffee, Inc. announced delayed 10-Q filing On 08/15/2024, Reborn Coffee, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jun 27
Reborn Coffee Intends to Appeal Delisting Notice from Nasdaq Reborn Coffee Inc. announced that it has received a notice of delisting from Nasdaq. On June 21, 2024, Reborn Coffee received a staff determination letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC notifying the Company that because it has not yet filed its Form 10-Q for the fiscal year ended March 31, 2024, it has failed to comply with the filing requirement set in Listing Rule 5250(c.)(1). As previously announced on May 15, 2024, the Company was required to dismiss BF Borgers CPA PC as the Company’s independent registered public accounting firm. The Company was required to engage a new independent registered public accounting firm in order to complete and file the Form 10-Q. On May 14, 2024, the Audit Committee approved the engagement of BCRG Group (“BCRG”) as the Company’s new independent registered public accounting firm. Due to the timing of the appointment of BCRG, the Company was unable without unreasonable effort and expense to complete the review of the Company’s financial statements for the quarter ended March 31, 2024 before the required filing date for the Quarterly Report on Form 10-Q. A Nasdaq Hearings Panel had previously placed the Company on a Discretionary Panel Monitor for a period of one year or until May 16, 2025 after the Company regained compliance with previous Nasdaq listing deficiencies, which would require the Staff to issue a Delist Determination Letter in the event that the Company failed to maintain compliance with any continued listing requirement. The Letter explains that ordinarily Nasdaq listed companies may be provided up to 60 calendar days to submit a plan to regain compliance, and that if the plan is accepted, Staff may grant an exception of up to 180 calendar days from the Filing’s due date. However, pursuant to the Panel Monitor, the Company is not eligible for a compliance period. Therefore, the Company must, and shall, request an appeal of this determination to the Panel, and request a stay of the suspension pending a hearing (with an explanation as to why an extended stay is appropriate) by June 28, 2024, or else trading of the Company’s common stock will be suspended at the opening of business on July 2, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on the Nasdaq. Under Nasdaq Listing Rule 5810(c)(2)(A)(v) and as stated in the Letter, the Company has until June 28, 2024 to request a hearing to appeal the Staff’s determination and the Company intends to request such a hearing. Pursuant to Listing Rule 5810(b), the Staff requires that the Company issue as promptly as possible, but no later than four days from the receipt of the Letter, a public announcement disclosing the receipt of the Letter. In the event the Company does not make the required public announcement, trading in its securities will be halted. By issuing this press release, the Company believes it complies with Listing Rule 5810(b). Announcement • May 17
Reborn Coffee, Inc. announced delayed 10-Q filing On 05/15/2024, Reborn Coffee, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Mar 29
Reborn Coffee, Inc., Annual General Meeting, Apr 22, 2024 Reborn Coffee, Inc., Annual General Meeting, Apr 22, 2024, at 10:00 Eastern Standard Time. Location: offices of Pryor Cashman LLP at 7 Times Square, New York, NY 10036 New York New York United States Agenda: To elect six persons to Board of Directors, each to hold office until the 2024 annual meeting of stockholders or until their respective successors shall have been duly elected or appointed and qualify; to ratify the appointment of BF Borgers CPA PC as independent registered public accounting firm for the fiscal year ending December 31, 2023; to approve executive compensation; to approve the frequency of voting on the compensation of named executive officers; and to consider such other related matters and business as may properly come before the Annual Meeting or any adjournments or postponements thereof. Announcement • Mar 01
Reborn Coffee, Inc. announced that it has received $1.000001 million in funding Reborn Coffee, Inc. announced that it has entered into a securities subscription agreement with new individual investor Scott Lee and a non-broker private placement of 444,445 common shares, par value $0.0001, at a purchase price of $2.25 per share for aggregate gross proceeds of approximately $1,000,001.25 on February 29, 2024. The securities issued are defined in Rule 501(a) of Regulation D under the Securities Act of 1933. Announcement • Feb 07
Reborn Coffee Receives Letter from Nasdaq Notifying that the Panel Had Granted the Company’s Request to Continue Its Listing on Nasdaq Until March 29, 2024 As previously disclosed, Reborn Coffee, Inc. (the “Company”) requested a hearing by the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) to appeal delisting determinations made by the Listing Qualifications Department (the “Staff”) of Nasdaq: (i) on April 28, 2023 for failure to comply with the bid price requirement of Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”), (ii) on September 5, 2023 for failure to comply with the minimum stockholders equity required for continued listing on Nasdaq, or any of the alternative requirement to Nasdaq Listing Rule 5550(b) (the “Equity Rule”), and (iii) on January 4, 2024 for failure to hold an annual meeting of stockholders for the fiscal year ended December 31, 2023 as required by Nasdaq Listing Rule 5620(a) (the “Meeting Rule”). At the Panel hearing, which occurred on January 18, 2024, the Company, represented by members of senior management and outside counsel, advised that the Company intended to regain compliance with the Bid Price Rule by effecting a reverse stock split, which the Company effected by filing a Certificate of Amendment to the Company’s Certificate of Incorporation to effect a reverse stock split of its issued common stock in the ratio of 1-for 8 and the common stock began trading on a post-reverse stock split basis on January 22, 2024 – the Company’s common stock has since had a closing bid price greater than $1.00 for ten consecutive trading days. The Company also informed the Panel that it intends to regain compliance with the Equity Rule by completing one or more equity financings. Finally, the Company informed the Panel that it intends to regain compliance with the Meeting Rule by holding an annual meeting of stockholders in the first quarter of 2024. As such, the Company proposed to the Panel a compliance plan that included a tentative schedule to complete the reverse stock split (which has now been completed), the equity financings, and the annual meeting and requested an extension of time to fully comply with Nasdaq listing requirements so that the Company could demonstrate to the Panel that it should not be delisted from Nasdaq. On February 2, 2024, the Company received a letter (the “Letter”) from Nasdaq notifying the Company that the Panel had granted the Company’s request to continue its listing on Nasdaq until March 29, 2024, subject to certain conditions. The Company intends to comply with the conditions set forth by the Panel, as stated in the Letter. There can be no assurance that the Panel will afford the Company more time to complete the compliance plan it articulated in the hearing, or that the Company will be able to remain in compliance with the applicable Nasdaq listing requirements on an ongoing basis. Announcement • Jan 17
Reborn Coffee, Inc. announced that it has received $1 million in funding On January 17, 2024, Reborn Coffee, Inc. closed the transaction. Announcement • Jan 12
Reborn Coffee, Inc. announced that it expects to receive $1 million in funding Reborn Coffee, Inc. announced a private placement of common shares for the gross proceeds of $1 million on January 10, 2024. The transaction will include participation from new individual investor Farooq Arjomand. Announcement • Jan 11
Reborn Coffee Receives a Notification Letter from the Nasdaq Listing Qualifications Staff of the Nasdaq Stock Market On January 4, 2024, Reborn Coffee, Inc. received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC. The Letter notified the Company that Nasdaq will consider its failure to hold its annual meeting of shareholders for the fiscal year ended December 31, 2023 in rendering a determination regarding the Company’s continued listing on The Nasdaq Capital Market. The notification received has no immediate effect on the continued listing of the Company’s common stock on Nasdaq. Nasdaq has previously issued notification letters to the Company for failure to comply with its listing rules. Nasdaq has indicated that the Company has fallen out of compliance with Nasdaq Listing Rule 5550(a)(2) concerning the $1.00 minimum bid price listing standard as previously disclosed by the Company on its Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on May 2, 2023. Nasdaq has also indicated that the Company has failed to comply with Nasdaq Listing Rule 5550(b)(1) concerning the $2,500,000 minimum stockholders’ equity rule as previously disclosed by the Company on its Current Report on Form 8-K filed with the SEC on September 5, 2023. The Company has been afforded the opportunity to address these issues before a Nasdaq Hearings Panel. The Company has submitted a written statement which contains a plan of compliance for Nasdaq’s consideration. The Company has also taken steps to regain compliance with the Nasdaq Listing Rules however, there can be no assurance that the Company will regain compliance with Nasdaq’s Listing Rules, that Nasdaq will accept the Company’s plan of compliance or that Nasdaq will not ultimately elect to delist the Company’s securities from the Nasdaq Capital Market. Announcement • Nov 30
Reborn Coffee, Inc. announced that it expects to receive $5 million in funding from Kib plug energy Co., Ltd. Reborn Coffee, Inc. announced a private placement for a strategic investment of $5 million on November 28, 2023. The transaction will include participation from new investor, Kib plug energy Co., Ltd. Announcement • Nov 02
The Nasdaq Stock Market LLC Schedules Reborn Coffee's Securities for Delisting from The Nasdaq Capital Market On October 26, 2023, Reborn Coffee, Inc. (the ‘Company’) received a notification letter (the ‘Letter’) from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that it has scheduled the Company’s securities for delisting from The Nasdaq Capital Market. The Company’s securities will be suspended at the opening of business on November 6, 2023, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the ‘SEC’), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market. This Letter was sent pursuant to an earlier notification letter warning the Company that it was out of compliance with Listing Rule 5550(a)(2), which requires that the listed security maintain a minimum bid price of $1.00 per share and that failure to meet this requirement for a period of 30 consecutive days will subject the Company to delisting. The Company was provided with 180 calendar days, or until October 25, 2023 to regain compliance pursuant to Rule 5810(c)(3)(A). The Company has not regained compliance within the applicable timeframe and is not eligible for a second 180-day period. The Letter further states that the Company has failed to comply with Listing Rule 5550(b)(1) as its amount of stockholders’ equity has fallen below the $2,500,000 required minimum for continued listing. While the Company submitted a plan to regain compliance on October 20, 2023, there has not been an acceptance nor rejection of the plan. Nasdaq has instead stated that failure to meet Listing Rule 5550(b)(1) is an additional and separate basis for delisting. Pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 series, the Company may appeal Nasdaq’s determination to a Hearings Panel (the ‘Panel’). A hearing request will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision. Upon paying the non-refundable $20,000 fee, the Company will have an opportunity to present a plan to regain compliance to the Panel. The Company intends to request a hearing but there can be no assurance that Nasdaq would grant the Company’s request for approval of its compliance plan, or otherwise reverse its determination that the Company’s securities ought to be delisted. The Company, by filing this Form 8-K, discloses its receipt of the notification from Nasdaq in accordance with Nasdaq Listing Rule 5810(b). The Company has also previously disclosed prior Nasdaq notification letters on its Current Report on Form 8-K filed with the Securities and Exchange Commission on May 2, 2023 and September 11, 2023. New Risk • Oct 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$9.3m free cash flow). Earnings have declined by 43% per year over the past 5 years. Market cap is less than US$10m (US$5.42m market cap). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Revenue is less than US$5m (US$4.3m revenue). Announcement • Oct 14
Reborn Coffee, Inc. Appoints Jennifer Tan to the Board of Directors Reborn Coffee, Inc. announced the appointment of Jennifer Tan to its Board of Directors. Jennifer Tan has over 30 years experience as a global entrepreneur in diversified businesses in the U.S., Europe and Asia. She is currently Chief Executive Officer of Hawaii Volcano Tea LP. Previously she was Managing Director of Tutti Frutti (China) Limited. Ms. Tan was also Managing Director of International Golf &Yacht Club (Hong Kong) Limited and Mass Star Development Limited. Jennifer will also be valuable in enhancing its brands loose leaf and specialty tea product lines and incorporating the premium teas from Hawaii Volcano Tea into Reborn Coffees offerings. Tea continues to grow in popularity as an alternative to coffee products for health consciousness consumers, including organic tea variants and region-specific varieties such as Hawaiian volcanic tea in which the volcanic soil imparts a distinctive flavor and quality to the tea. Announcement • Sep 12
Reborn Coffee Receives a Notification Letter from the Nasdaq Listing Qualifications Staff of the Nasdaq Stock Market On September 5, 2023, Reborn Coffee, Inc. received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC notifying the Company that its amount of stockholders' equity has fallen below the $2,500,000 required minimum for continued listing set in Nasdaq Listing Rule 5550(b)(1). The Company's stockholders' equity currently sits at $2,278,723 as reported by the company's Quarterly Report on Form 10-Q for the period ended June 30, 2023. The Letter also noted that as of June 30, 2023, the Company does not meet the alternatives of market value listed securities or net income from continuing operations pursuant to Rule 5550. Rule 5550 holds that in a situation where an Issuer does not comply with the minimum $2,500,000 shareholders' equity criteria of the Capital Market, Nasdaq will determine if the Company has a market value of listed securities of $35 million, or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. The Company does not currently satisfy such alternative criteria. The notification received has no immediate effect on the continued listing of the Company's common stock on Nasdaq. Under Nasdaq Listing Rule 5810(c)(2)(A)(i) and as stated in the Letter, the Company has until October 20, 2023 45 calendar days from the date of the Letter) to submit a plan to regain compliance. In determining the acceptability of the plan, Nasdaq will consider the likelihood of success, past compliance history, the reasons for current non-compliance and other corporate events that may occur during the review period, all of which may also be preemptively addressed in the Company's plan. If the plan is accepted, Nasdaq will provide written confirmation and can grant an extension of up to March 3, 2024 (180 calendar days from the date of the Letter) to evidence compliance. If Nasdaq rejects the plan, the Company will have the opportunity to appeal the decision to a Hearings Panel pursuant to Rule 5815(a), but there can be no assurance that Nasdaq would grant the Company's request for approval of its compliance plan. If it appears to the Listing Qualifications Staff that the Company will not be able to cure the deficiency, or if the Company does not otherwise satisfy the shareholders' equity criteria, Nasdaq will provide notice that the Company's securities will be subject to delisting. In the event of such notification, the Company may appeal Nasdaq's determination to delist its securities, but there can be no assurance that Nasdaq would grant the Company's request for continued listing. The Company is monitoring the amount of stockholders' equity and may, if appropriate, evaluate various courses of action to achieve compliance with the minimum stockholders' equity required to comply with the continued listing standard. However, there can be no assurance that the Company will be able to regain compliance with the minimum stockholders' equity continued listing standard or will otherwise be in compliance with other Nasdaq listing criteria. It should also be noted that the Letter mentioned the Company's continued non-compliance with the $1.00 minimum bid price listing standard which was previously disclosed by the Company on its Current Report on Form 8-K filed with the Securities and Exchange Commission on May 2, 2023. Reported Earnings • Aug 14
Second quarter 2023 earnings released: US$0.098 loss per share (vs US$0.08 loss in 2Q 2022) Second quarter 2023 results: US$0.098 loss per share (further deteriorated from US$0.08 loss in 2Q 2022). Revenue: US$1.52m (up 93% from 2Q 2022). Net loss: US$1.29m (loss widened 38% from 2Q 2022). Board Change • Jul 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Chairman of the Board of Directors Farooq Arjomand was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jul 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.89m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.5m free cash flow). Earnings have declined by 46% per year over the past 5 years. Market cap is less than US$10m (US$9.89m market cap). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (US$3.6m revenue). Announcement • Jul 25
Reborn Coffee, Inc. Announces Board Changes On July 13, 2023, the Board of Reborn Coffee, Inc. accepted Director Dennis Egidi’s formal resignation from its audit and compensation committees, effective immediately. Mr. Egidi resigned due to no longer meeting the SEC and Nasdaq independent director requirements. On July 13, 2023, the Board appointed Andy Nasim as a director of the Company, effective immediately, to fill the vacancy created by Hannah Goh’s resignation, with a term expiring at annual meeting of stockholders in 2023 or until his successor is duly elected and qualified or until his earlier death, resignation, retirement, disqualification, removal from office or other cause. Mr. Nasim will serve as a member of the audit committee of the Board and as chair of its compensation committee. The Board’s audit committee membership now consists of Farooq Arjomand (Chair), Andy Nasim and Jay Kim. The Board’s compensation committee membership now consists of Andy Nasim (Chair), Farooq Arjomand and Jay Kim. The Company has no standing nominating committee. Reported Earnings • May 13
First quarter 2023 earnings released: US$0.079 loss per share (vs US$0.049 loss in 1Q 2022) First quarter 2023 results: US$0.079 loss per share (further deteriorated from US$0.049 loss in 1Q 2022). Revenue: US$1.12m (up 49% from 1Q 2022). Net loss: US$964.2k (loss widened 71% from 1Q 2022). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in the US. Announcement • May 04
Reborn Coffee, Inc. Receives A Notification Letter from Nasdaq Regarding Minimum Bid Price Requirement On April 28, 2023, Reborn Coffee, Inc. (the Company") received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (Nasdaq") notifying the Company that the minimum bid price per share for its common stock has been below $1.00 for a period of 32 consecutive business days and the Company therefore no longer meets the minimum bid price requirements set in Nasdaq Listing Rule 5550(a)(2). The notification received has no immediate effect on the listing of the Company's common stock on Nasdaq. Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has until October 25, 2023 to regain compliance with the minimum bid price continued listing standard. If at any time during such 180-day period the closing bid price of the Company's common stock is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance. If the Company does not regain compliance during such 180-day period, the Company may be eligible for an additional 180 calendar days to regain compliance, provided that the Company (i) meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, except for Nasdaq Listing Rule 5550(a)(2), and (ii) provides a written notice of its intention to cure this deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days to regain compliance. However, if it appears to the Listing Qualifications Staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company's securities will be subject to delisting. In the event of such notification, the Company may appeal Nasdaq's determination to delist its securities, but there can be no assurance that Nasdaq would grant the Company's request for continued listing. The Company is monitoring the bid price of its common stock and may, if appropriate, evaluate various courses of action to achieve compliance with the minimum bid price continued listing standard. However, there can be no assurance that the Company will be able to regain compliance with the minimum bid price continued listing standard or will otherwise be in compliance with other Nasdaq listing criteria. The Company, by filing this Form 8-K, discloses its receipt of the notification from Nasdaq in accordance with Nasdaq Listing Rule 5810(b). Reported Earnings • Apr 12
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: US$0.29 loss per share. Revenue: US$3.24m (up 42% from FY 2021). Net loss: US$3.55m (loss widened 3.3% from FY 2021). Revenue missed analyst estimates by 19%. Earnings per share (EPS) also missed analyst estimates by 71%. Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in the US. Announcement • Jan 15
Hannah Goh Resigns as Independent Director from Reborn Coffee, Inc On January 10, 2023, the Board of Directors of Reborn Coffee, Inc., a Delaware corporation (the “Company”) accepted the formal resignation of independent director Hannah Goh, effective immediately. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The analyst covering Reborn Coffee expects the company to break even for the first time. New forecast suggests the company will make a profit of US$1.08m in 2025. Average annual earnings growth of 63% is required to achieve expected profit on schedule. Announcement • Dec 10
Reborn Coffee, Inc. (NasdaqCM:REBN) signed a binding Letter of Intent to acquire a specialty coffee shop and a roasting Research and Development facility in Daejeon, South Korea. Reborn Coffee, Inc. (NasdaqCM:REBN) signed a binding Letter of Intent to acquire a specialty coffee shop and a roasting Research and Development facility in Daejeon, South Korea on December 8, 2022. Closing of any potential acquisition is subject to final due diligence, negotiation and execution of a definitive purchase agreement and all necessary approvals. Reborn Coffee expects to finalize the acquisition by the middle of January 2023. Seeking Alpha • Oct 11
Reborn Coffee to have 5 new retail locations opening in Southern California Reborn Coffee (NASDAQ:REBN) plans to open five new company-owned retail locations in Southern California, which, once opened, will bring its total count to fourteen.
The Cabazon, Huntington Beach and Irvine locations are expected to open in Q4 2022, and the Mission Viejo location is expected to open in Q1 2023.
“Supported by new capital from our recent IPO, we are rapidly expanding our retail footprint to 14 strategic locations to serve our high quality, specialty-roasted coffee in shopping plazas and upscale areas. At each new location, our focus is on creating an inviting store atmosphere which is designed for comfort and convenience. We also strive to provide safe, clean, and well-maintained stores with a personal experience that reflects the communities in which we operate, helping to build a high degree of customer loyalty. These new locations will feature patios, contemporary design, and inviting atmospheres for socialization, study, and work.” said Jay Kim, CEO. Announcement • Sep 28
Reborn Coffee, Inc. announced delayed 10-Q filing On 09/27/2022, Reborn Coffee, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Aug 13
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Vice Chairman of the Board Dennis Egidi was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 13
Reborn Coffee, Inc. has completed an IPO in the amount of $7.2 million. Reborn Coffee, Inc. has completed an IPO in the amount of $7.2 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,440,000
Price\Range: $5