NAKED BRAND GROUP INC.

CIK:0001383097|SEC Filings

Interim Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Net sales	$ 826,984	$ 455,160
Cost of sales	581,089	354,141
Gross profit	245,895	101,019
Operating expenses
General and administrative expenses	733,265	3,262,663
Foreign exchange	506	763
Total operating expenses	733,771	3,263,426
Operating loss	(487,876)	(3,162,407)
Other expense (income)
Interest expense	4,761	25,414
Accretion of debt discounts and finance charges	14	231
Other income	(390,104)	0
Total other expense (income)	(385,329)	25,645
Net loss	$ (102,547)	$ (3,188,052)
Net loss per share
Basic and Diluted	$ (0.01)	$ (0.35)
Weighted average shares outstanding
Basic and Diluted	10,342,191	9,240,272

Interim Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Cash flows from operating activities
Net loss	$ (102,547)	$ (3,188,052)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for obsolete inventory	(31,621)	0
Provision for inventory return asset	(2,583)	0
Provision for returns	(4,300)	0
Provision for e-commerce loyalty points	333	0
Stock based compensation	96,289	1,683,129
Changes in operating assets and liabilities:
Accounts receivable	(18,311)	0
Accounts receivable - related party	(312,597)	0
Due from factor	55,906	0
Advances receivable - related party	(43)	(143,613)
Prepaid expenses and deposits	70,717	271,504
Inventory	403,125	(142,560)
Trade payables and accrued liabilities	354,515	(413,215)
Interest payable	0	6,184
Deferred compensation	0	(33,333)
Net cash provided by (used in) operating activities	508,883	(1,959,956)
Cash flows from investing activities
Related party advances receivable	(199,726)	0
Net cash used in investing activities	(199,726)	0
Cash flows from financing activities
Proceeds from share issuances, net	0	5,307,233
Repayments under factoring arrangements	0	(231,366)
Net cash provided by financing activities	0	5,075,867
Net increase (decrease) in cash	309,157	3,115,911
Cash at beginning of the period	1,414,871	879,014
Cash at end of the period	1,724,028	3,994,925
Cash paid during the period for:
Interest	0	0
Income Taxes	0	0
Non-cash financing activities:
Extinguishment of accrued salary with equity	0	654,637
Schedule 1 to the Statements of Cash Flows
Profit and loss items not involving cash consists of: Stock based compensation	96,289	1,683,129
Other Noncash Income (Expense), Total	$ 96,289	$ 1,638,129

Interim Condensed Consolidated Balance Sheets	Apr. 30, 2018 USD ($)	Jan. 31, 2018 USD ($)
Current assets
Cash	$ 1,724,028	$ 1,414,871
Accounts receivable, net of allowance for doubtful accounts of $4,664 (January 31, 2018: $4,664)	275,065	198,982
Accounts receivable, related party	754,050	441,453
Due from factor	50,433	106,339
Inventory, net of allowances of $238,120 (January 31, 2018: $269,742)	1,224,582	1,584,434
Advances receivable, related party	740,502	540,733
Prepaid expenses and deposits	127,828	198,545
Total current assets	4,896,488	4,485,357
Intangible assets, net	80,875	80,875
TOTAL ASSETS	4,977,363	4,566,232
Current liabilities
Trades payable and accrued liabilities	1,023,498	600,411
Contract liablities	4,000	0
Promissory notes payable	3,450	3,450
Total current liabilities	1,030,948	603,861
TOTAL LIABILITIES	1,030,948	603,861
STOCKHOLDERS' EQUITY
Common stock Authorized 2,000,000 shares of blank check preferred stock, no par value 18,000,000 shares of common stock, par value $0.001 per share Issued and outstanding 10,342,191 shares of common stock (January 31, 2018: 10,342,191)	10,342	10,342
Common stock to be issued	14,141	14,141
Accumulated paid-in capital	67,009,810	66,913,521
Accumulated deficit	(63,081,633)	(62,969,388)
Accumulated other comprehensive loss	(6,245)	(6,245)
Total stockholders' equity	3,946,415	3,962,371
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 4,977,363	$ 4,566,232