v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jul. 31, 2018
Oct. 31, 2017
CURRENT ASSETS:    
Cash $ 5,080,021 $ 2,325,650
Accounts receivable, net of allowances of $144,000 for 2018 and 2017 8,610,384 13,441,802
Inventories 15,210,573 16,310,572
Prepaid green coffee 171,350
Prepaid expenses and other current assets 707,332 593,825
Prepaid and refundable income taxes 293,966 472,814
TOTAL CURRENT ASSETS 29,902,276 33,316,013
Machinery and equipment, at cost, net of accumulated depreciation of $6,079,588 and $5,557,899 for 2018 and 2017, respectively 2,667,203 2,439,338
Customer list and relationships, net of accumulated amortization of $95,125 and $72,250 for 2018 and 2017, respectively 344,875 367,750
Trademarks 820,000 820,000
Other intangible assets 331,124 331,124
Non-compete 150,000
Goodwill 2,794,265 1,794,265
Equity method investments 90,284 94,643
Deferred income tax asset 569,250 339,748
Deposits and other assets 527,303 497,529
TOTAL ASSETS 38,196,580 40,000,410
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 2,732,107 4,430,626
Line of credit 7,148,762 8,407,527
Due to broker 528,038 210,862
Note payable 150,000
Income taxes payable 7,235 1,346
TOTAL CURRENT LIABILITIES 10,566,142 13,050,361
Deferred income tax liabilities 862,932 629,680
Deferred rent payable 241,702 240,379
Deferred compensation payable 518,303 488,529
TOTAL LIABILITIES 12,189,079 14,408,949
Coffee Holding Co., Inc. stockholders' equity:    
Preferred stock, par value $.001 per share; 10,000,000 shares authorized; no shares issued and outstanding
Common stock, par value $.001 per share; 30,000,000 shares authorized, 6,494,680 shares issued; 5,620,767 and 5,805,935 shares outstanding as of July 31, 2018 and October 31, 2017, respectively 6,494 6,494
Additional paid-in capital 16,104,075 16,104,075
Retained earnings 13,303,416 12,345,490
Less: Treasury stock, 873,913 and 688,745 common shares, at cost as of July 31, 2018 and October 31, 2017, respectively (4,398,877) (3,504,510)
Total Coffee Holding Co., Inc. Stockholders' Equity 25,015,108 24,951,549
Noncontrolling interest 992,393 639,912
TOTAL EQUITY 26,007,501 25,591,461
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 38,196,580 $ 40,000,410
v3.10.0.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Jul. 31, 2018
Jul. 31, 2017
Jul. 31, 2018
Jul. 31, 2017
Income Statement [Abstract]        
NET SALES $ 23,439,903 $ 17,979,068 $ 67,717,019 $ 55,398,538
COST OF SALES (including $7.0 and $4.8 million of related party costs for the nine months ended July 31, 2018 and 2017, respectively. Including $2.6 and $2.6 million for the three months ended July 31, 2018 and 2017, respectively.) 19,648,710 14,903,594 56,263,183 46,469,896
GROSS PROFIT 3,791,193 3,075,474 11,453,836 8,928,642
OPERATING EXPENSES:        
Selling and administrative 3,352,268 2,716,393 8,905,830 7,517,062
Officers' salaries 170,250 179,250 510,750 527,090
TOTAL 3,522,518 2,895,643 9,416,580 8,044,152
INCOME FROM OPERATIONS 268,675 179,831 2,037,256 884,490
OTHER INCOME (EXPENSE)        
Interest income 3,433 5,993 11,170 29,381
(Loss) gain from equity method investment 199 (322) (4,359) (71)
Interest expense (99,906) (68,079) (286,555) (192,317)
TOTAL (96,274) (62,408) (279,744) (163,007)
INCOME BEFORE PROVISION FOR INCOME TAXES AND NON-CONTROLLING INTEREST IN SUBSIDIARY 172,401 117,423 1,757,512 721,483
Provision for income taxes 35,721 23,911 447,105 153,453
NET INCOME BEFORE NON-CONTROLLING INTEREST IN SUBSIDIARY 136,680 93,512 1,310,407 568,030
Less: Net (income) attributable to the non-controlling interest (120,990) (60,712) (352,481) (157,711)
NET INCOME ATTRIBUTABLE TO COFFEE HOLDING CO., INC. $ 15,690 $ 32,800 $ 957,926 $ 410,319
Basic and diluted earnings per share $ 0.00 $ 0.01 $ 0.17 $ 0.07
Weighted average common shares outstanding: Basic and diluted 5,673,914 5,859,918 5,720,360 5,861,777
v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Apr. 24, 2018
Feb. 23, 2017
Jul. 31, 2018
Jul. 31, 2017
OPERATING ACTIVITIES:        
Net income     $ 1,310,407 $ 568,030
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     544,564 573,447
Unrealized loss (gain) on commodities     317,176 (643,834)
Loss on equity method investments     4,359 70
Deferred rent     1,323 6,872
Deferred income taxes     3,750 178,460
Changes in operating assets and liabilities:        
Accounts receivable     4,917,860 3,684,724
Inventories     2,240,892 (270,523)
Prepaid expenses and other current assets     (50,625) (53,740)
Prepaid green coffee     171,350 155,323
Prepaid and refundable income taxes     178,848 (315,962)
Accounts payable and accrued expenses     (1,698,518) (1,434,462)
Deposits and other assets     59,640
Income taxes payable     5,889 (1,050)
Net cash provided by operating activities     7,947,275 2,506,995
INVESTING ACTIVITIES:        
Purchases of business net of cash acquired     (2,893,275)
Cash paid for business acquisition     (2,740,217)
Purchases of machinery and equipment     (299,554) (586,098)
Net cash used in investing activities     (3,039,771) (3,479,373)
FINANCING ACTIVITIES:        
Advances under bank line of credit     3,800,300 4,512,950
Purchase of treasury stock     (894,368) (15,829)
Principal payments under bank line of credit     (5,059,065) (4,065,000)
Net cash (used in) provided by financing activities     (2,153,133) 432,121
NET INCREASE DECREASE IN CASH     2,754,371 (540,257)
CASH, BEGINNING OF PERIOD     2,325,650 3,227,981
CASH, END OF PERIOD     5,080,021 2,687,724
SUPPLEMENTAL DISCLOSURE OF CASH FLOW DATA:        
Interest paid     285,603 189,933
Income taxes paid     $ 245,838 $ 281,538
Steep & Brew, Inc [Member]        
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Accounts receivable $ 86,442      
Inventory 1,140,893      
Equipment 450,000      
Prepaid expenses 62,882      
Non-compete 150,000      
Goodwill 1,000,000      
Less: Note payable 150,000      
Net cash paid $ 2,740,217      
Comfort Foods, Inc [Member]        
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Accounts receivable   $ 584,918    
Inventory   1,116,906    
Equipment   229,597    
Prepaid expenses   32,681    
Non-compete   170,000    
Customer lists   1,359,502    
Goodwill   26,551    
Less: Note payable   626,880    
Net cash paid   $ 2,893,275