Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2019shares | |
Document Information [Line Items] | |
Entity Registrant Name | THANKSGIVING COFFEE CO INC |
Entity Central Index Key | 0000949852 |
Trading Symbol | tcci |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Non-accelerated Filer |
Entity Current Reporting Status | Yes |
Entity Emerging Growth Company | false |
Entity Small Business | true |
Entity Interactive Data Current | Yes |
Entity Common Stock, Shares Outstanding (in shares) | 1,236,744 |
Entity Shell Company | false |
Document Type | 10-Q |
Document Period End Date | Sep. 30, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q3 |
Amendment Flag | false |
Title of 12(b) Security | Common Stock, no par value |
Condensed Balance Sheets (Curre
Condensed Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash | $ 326,704 | $ 153,646 |
Accounts receivable, net of allowance | 245,318 | 218,789 |
Inventories | 269,177 | 237,708 |
Prepaid expenses | 70,613 | 90,431 |
Total current assets | 911,812 | 700,574 |
Property and equipment, net | 843,027 | 308,649 |
Other assets | ||
Deposits and other assets | 7,076 | 4,168 |
Total assets | 1,761,915 | 1,013,391 |
Current liabilities | ||
Accounts payable | 189,370 | 217,828 |
Accrued liabilities | 59,336 | 62,817 |
Current portion of operating lease liabilities | 96,604 | |
Current portion of long term debt | 32,640 | 48,262 |
Total current liabilities | 377,950 | 328,907 |
Long term liabilities | ||
Long-term debt | 28,704 | 36,302 |
Noncurrent operating lease liabilities | 470,960 | |
Total long term debt | 499,664 | 36,302 |
Total liabilities | 877,614 | 365,209 |
Shareholders' equity | ||
Common stock, no par value, 1,960,000 shares authorized, 1,236,744 shares issued and outstanding | 861,816 | 861,816 |
Additional paid in capital | 24,600 | 24,600 |
Accumulated deficit | (2,115) | (238,234) |
Total shareholders' equity | 884,301 | 648,182 |
Total liabilities and shareholders' equity | 1,761,915 | 1,013,391 |
All Property and Equipment, Excluding Right of Use [Member] | ||
Current assets | ||
Property and equipment, net | 275,463 | 308,649 |
Right of Use [Member] | ||
Current assets | ||
Property and equipment, net | $ 567,564 |
Condensed Balance Sheets (Cur_2
Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 1,960,000 | 1,960,000 |
Common stock, issued (in shares) | 1,236,744 | 1,236,744 |
Common stock, outstanding (in shares) | 1,236,744 | 1,236,744 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Income | ||||
Net sales | $ 866,775 | $ 800,149 | $ 3,120,554 | $ 2,413,940 |
Cost of sales | 514,016 | 447,840 | 1,749,736 | 1,385,347 |
Gross profit | 352,759 | 352,309 | 1,370,818 | 1,028,593 |
Operating expenses | ||||
Selling, general, and administrative expenses | 329,120 | 323,384 | 1,044,169 | 1,007,248 |
Depreciation and amortization | 16,962 | 19,571 | 51,633 | 66,839 |
Total operating expenses | 346,082 | 342,955 | 1,095,802 | 1,074,087 |
Operating profit (loss) | 6,677 | 9,354 | 275,016 | (45,494) |
Other Income | ||||
Interest expense | (1,407) | (2,040) | (4,476) | (5,444) |
Other expense, net | (24,227) | 11,463 | (24,028) | 11,530 |
Total other income (expense), net | (25,634) | 9,423 | (28,504) | 6,086 |
Income/(loss) before income taxes | (18,957) | 18,777 | 246,512 | (39,408) |
Income tax expense | (9,557) | 0 | (10,393) | (800) |
Net Income/ (loss) | $ (28,514) | $ 18,777 | $ 236,119 | $ (40,208) |
Earnings/ (loss) per share (basic and dilutive) (in dollars per share) | $ (0.023) | $ 0.015 | $ 0.191 | $ (0.033) |
Weighted average number of shares (in shares) | 1,236,744 | 1,236,744 | 1,236,744 | 1,236,744 |
Condensed Statements of Accumul
Condensed Statements of Accumulated Deficit (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Retained earnings/Accumulated deficit, beginning of the period | $ 26,399 | $ (260,975) | $ (238,234) | $ (201,990) |
Net income/ (loss) | (28,514) | 18,777 | 236,119 | (40,208) |
Accumulated deficit, end of period | $ (2,115) | $ (242,198) | $ (2,115) | $ (242,198) |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Operating activities | ||
Net income (loss) | $ 236,119 | $ (40,208) |
Adjustments to reconcile net income (loss) to cash flows from operating activities: | ||
Depreciation and amortization | 51,633 | 66,839 |
(Increase) decrease in: | ||
Accounts receivable | (26,529) | 14,870 |
Inventories | (31,469) | 57,163 |
Prepaid expenses | 19,818 | (8,063) |
Deposits and other assets | (2,908) | (1,056) |
Increase (decrease) in: | ||
Accounts payable | (28,458) | (45,697) |
Accrued liabilities | (3,481) | (21,753) |
Net cash provided by operating activities | 214,725 | 22,095 |
Investing activities | ||
Purchases of property and equipment | (724) | (26,364) |
Financing activities | ||
Repayments of long term debt | (40,943) | (16,874) |
Increase (decrease) in cash | 173,058 | (21,143) |
Cash at beginning of period | 153,646 | 160,392 |
Cash at end of period | 326,704 | 139,249 |
Interest | 4,476 | 5,444 |
Income taxes | $ 837 | $ 800 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Basis of Presentation The unaudited condensed financial statements in this Form 10 10 10 X. 2018 10 December 31, 2018 10 “2018 not nine September 30, 2019 not September 30, 2019 not Disclosure A/R Concentration In the third 2019, one 31.55% 1992 Income Taxes The Company accounts for income taxes under the asset and liability method as prescribed by ASC 740, Accounting for Income Taxes A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Accordingly, actual results could differ from those estimates. Revenue Recognition The Company recognizes revenue in accordance with the five 606, 606, five 1 2 3 4 5 The Company recognizes revenue once its performance obligation to the customer is completed and control of the product or service is transferred to the customer. Revenue reflects the total amount the Company receives, or expects to receive, from the customer and includes shipping costs that are billed and included in the consideration. The Company's contractual obligations to customers generally have a single point of obligation and are short term in nature. For sales through distributors, the Company recognizes revenue when the product is shipped, and title passes to the distributor. The Company's standard terms are 'FOB' shipping point, with no No no not The Company sells coffee directly to customers through its direct delivery, retail web site and wholesale mail order customers. Additionally, the Company sells other coffee related merchandise through its website. Web site sales are paid for and recognized as revenue at the point of sale. Retail orders are billed to the customer's credit card, at the time of shipment, and revenue is then recognized. The Company periodically sells special bulk orders of products that are in excess of production requirements. These sales are recognized when ownership transfers to the buyer, which occurs at the point of shipment. Leases The Company adopted Accounting Standard Update (ASU) No. 2016 02—Leases 842 January 1, 2019, In addition, The Company elected the hindsight practical expedient to determine the lease term for existing leases. In our application of hindsight, we evaluated the performance of the leased warehouse and office equipment, which resulted in the determination that most renewal options would not Adoption of the new standard resulted in the recording of additional net lease assets and lease liabilities of $625,826 January 1, 2019. Earnings per share The Company computes basic earnings per share ("EPS") by dividing net earnings for the period (adjusted for any cumulative dividends for the period) by the weighted average number of common shares outstanding during the period. Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect, if any, of the common stock deliverable pursuant to stock options or common stock issuable upon the conversion of convertible stock. We have no three nine September 30, 2019 2018. |
Note 2 - Accounts Receivable
Note 2 - Accounts Receivable | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 2. Accounts receivable consist of the following: 9/30/2019 12/31/2018 Accounts receivable $ 249,953 $ 226,104 Less: allowance for doubtful accounts (4,635 ) (7,315 ) Net accounts receivable $ 245,318 $ 218,789 The Company utilizes a percentage method to establish the allowance for doubtful accounts. The estimated allowance ranges from 1% 10% nine September 30, 2019 2018 $8,795 32 three September 30, 2019 2018 $1,236 348 As of September 30, 2019 $1,192 $4,642. |
Note 3 - Inventories
Note 3 - Inventories | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 3. Inventories consist of the following: 9/30/2019 12/31/2018 Coffee Unroasted $ 172,795 $ 161,355 Roasted 49,122 34,420 Tea 1,597 1,723 Packaging, supplies and other merchandise held for sale 45,663 40,210 Total inventories $ 269,177 $ 237,708 |
Note 4 - Properties and Equipme
Note 4 - Properties and Equipment | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. and Equipment Property and equipment, consist of the following: 9/30/2019 12/31/2018 Equipment $ 485,413 $ 490,430 Furniture and fixtures 149,527 148,693 Leasehold improvements 368,954 366,698 Transportation equipment 50,217 178,497 Pacakge design 41,000 41,000 Capitalized website development costs 19,000 19,000 Property held under finance leases 362,280 225,864 Total property and equipment 1,476,391 1,470,182 Accumulated depreciation (1,200,928 ) (1,161,533 ) Property and equipment, net $ 275,463 $ 308,649 Property and Equipment and Right of Use Assets Depreciation and amortization expense for the nine September 30, 2019 2018 $51,633 $66,839, Depreciation and amortization expense for the three September 30, 2019 2018 $16,409 $19,572 |
Note 5 - Finance and Operating
Note 5 - Finance and Operating Leases | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Finance Lease and Operating Lease Disclosure [Text Block] | 5. Finance and Operating Lease s ASU No. 2016 02, 842 twelve January 1, 2019. not not We lease a warehouse, heavy machinery, and office equipment under finance and operating leases. As of September 30, 2019, three six one six 12 not None not Lease Position as of September 30, 2019 The table below presents the lease-related assets and liabilities recorded on the balance sheet. Classification on the Balance Sheet September 30, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 567,564 Finance lease assets Property and equipment, net 61,344 Total lease assets $ 628,908 Liabilities Current Operating Current maturities of operating leases $ 96,604 Finance Current maturities of finance leases 32,640 Noncurrent Operating Noncurrent operating leases 470,960 Finance Long-term finance leases 28,704 Total lease liabilities $ 628,908 Weighted-average remaining lease term Operating leases (years) 4.50 Finance leases (years) 1.93 Weighted-average discount rate Operating leases 2.45 % Finance leases 7.62 % Lease Costs The table below presents certain information related to the lease costs for finance and operating leases for the nine September 30, 2019. Quarter Ended September 30, 2019 Finance lease cost: $ 28,704 Amortization of assets $ 24,229 Interest on lease liabilities 4,475 Operating lease cost: 81,905 Short-term lease cost - Variable lease cost - Total lease cost $ 110,609 Other Information The table below presents supplemental cash flow information related to leases for the nine September 30, 2019. Cash paid for amounts included in the measurement of lease liabilities: Quarter Ended September 30, 2019 Operating cash flows for operating leases $ 81,905 Operating cash flows for finance leases $ 4,475 Financing cash flows for finance leases $ 24,229 Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five Operating Leases Finance Leases Period Ending December 31, 2019 $ 27,492 $ 13,024 2020 109,969 29,529 2021 109,969 15,393 2022 109,221 5,472 2023 105,544 2,838 2024 104,458 1,655 Thereafter 43,000 - Total minimum lease payments 609,653 67,911 Less: amount of lease payments representing interest (42,089 ) (6,399 ) Present value of future minimum lease payments 567,564 61,344 Less: current obligations under leases (96,604 ) (32,640 ) Long-term lease obligations $ 470,960 $ 28,704 |
Note 6 - Disaggregated Revenue
Note 6 - Disaggregated Revenue by Routes, Direct and Mail Order | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 6. Disaggregated information of revenue recognized as follows: For the Three months ended September 30 Sales by department 2019 2018 Routes-wholesale $ 316,621 $ 342,083 Direct-wholesale 453,201 357,758 Mailorder-retail 96,953 100,308 Total $ 866,775 $ 800,149 For the Nine months ended September 30 Sales by department 2019 2018 Routes-wholesale $ 904,589 $ 991,440 Direct-wholesale 1,910,988 1,097,862 Mailorder-retail 304,977 324,638 Total $ 3,120,554 $ 2,413,940 |
Note 7 - Income Taxes
Note 7 - Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 7 . Income Taxes Deferred income taxes arise from temporary timing differences in the recognition of income and expenses for financial reporting and tax purposes. The Company's deferred tax assets consist of the benefit from net operating loss (NOL) carryforwards and temporary differences. The Company's deferred tax assets are offset by a valuation allowance due to the uncertainty of the realization of the net operation loss carryforwards. Net operating loss carryforwards may |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 8 . Related Party Transactions As of September 30, 2019, three September 30, 2019, $48,567. first nine September 30, 2019 2018 $424,367 $421,402, The Company holds a five May 1, 2025. |
Note 9 - Business Segment
Note 9 - Business Segment | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 9. The Company operates in one |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 10. During the first 2020, 19 March 27, 2020, two 19. eight may In April 2020, $189,228 not 40% 24 6 1.00% 2 not In April 2020, $25,000 19 April 16, 2021 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Disclosure A/R Concentration In the third 2019, one 31.55% 1992 |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes under the asset and liability method as prescribed by ASC 740, Accounting for Income Taxes A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Accordingly, actual results could differ from those estimates. |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The Company recognizes revenue in accordance with the five 606, 606, five 1 2 3 4 5 The Company recognizes revenue once its performance obligation to the customer is completed and control of the product or service is transferred to the customer. Revenue reflects the total amount the Company receives, or expects to receive, from the customer and includes shipping costs that are billed and included in the consideration. The Company's contractual obligations to customers generally have a single point of obligation and are short term in nature. For sales through distributors, the Company recognizes revenue when the product is shipped, and title passes to the distributor. The Company's standard terms are 'FOB' shipping point, with no No no not The Company sells coffee directly to customers through its direct delivery, retail web site and wholesale mail order customers. Additionally, the Company sells other coffee related merchandise through its website. Web site sales are paid for and recognized as revenue at the point of sale. Retail orders are billed to the customer's credit card, at the time of shipment, and revenue is then recognized. The Company periodically sells special bulk orders of products that are in excess of production requirements. These sales are recognized when ownership transfers to the buyer, which occurs at the point of shipment. |
Lessee, Leases [Policy Text Block] | Leases The Company adopted Accounting Standard Update (ASU) No. 2016 02—Leases 842 January 1, 2019, In addition, The Company elected the hindsight practical expedient to determine the lease term for existing leases. In our application of hindsight, we evaluated the performance of the leased warehouse and office equipment, which resulted in the determination that most renewal options would not Adoption of the new standard resulted in the recording of additional net lease assets and lease liabilities of $625,826 January 1, 2019. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per share The Company computes basic earnings per share ("EPS") by dividing net earnings for the period (adjusted for any cumulative dividends for the period) by the weighted average number of common shares outstanding during the period. Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect, if any, of the common stock deliverable pursuant to stock options or common stock issuable upon the conversion of convertible stock. We have no three nine September 30, 2019 2018. |
Note 2 - Accounts Receivable (T
Note 2 - Accounts Receivable (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 9/30/2019 12/31/2018 Accounts receivable $ 249,953 $ 226,104 Less: allowance for doubtful accounts (4,635 ) (7,315 ) Net accounts receivable $ 245,318 $ 218,789 |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | 9/30/2019 12/31/2018 Coffee Unroasted $ 172,795 $ 161,355 Roasted 49,122 34,420 Tea 1,597 1,723 Packaging, supplies and other merchandise held for sale 45,663 40,210 Total inventories $ 269,177 $ 237,708 |
Note 4 - Properties and Equip_2
Note 4 - Properties and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 9/30/2019 12/31/2018 Equipment $ 485,413 $ 490,430 Furniture and fixtures 149,527 148,693 Leasehold improvements 368,954 366,698 Transportation equipment 50,217 178,497 Pacakge design 41,000 41,000 Capitalized website development costs 19,000 19,000 Property held under finance leases 362,280 225,864 Total property and equipment 1,476,391 1,470,182 Accumulated depreciation (1,200,928 ) (1,161,533 ) Property and equipment, net $ 275,463 $ 308,649 |
Note 5 - Finance and Operatin_2
Note 5 - Finance and Operating Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Lease-related Assets and Liabilities [Table Text Block] | Classification on the Balance Sheet September 30, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 567,564 Finance lease assets Property and equipment, net 61,344 Total lease assets $ 628,908 Liabilities Current Operating Current maturities of operating leases $ 96,604 Finance Current maturities of finance leases 32,640 Noncurrent Operating Noncurrent operating leases 470,960 Finance Long-term finance leases 28,704 Total lease liabilities $ 628,908 Weighted-average remaining lease term Operating leases (years) 4.50 Finance leases (years) 1.93 Weighted-average discount rate Operating leases 2.45 % Finance leases 7.62 % |
Lease, Cost [Table Text Block] | Quarter Ended September 30, 2019 Finance lease cost: $ 28,704 Amortization of assets $ 24,229 Interest on lease liabilities 4,475 Operating lease cost: 81,905 Short-term lease cost - Variable lease cost - Total lease cost $ 110,609 |
Finance Lease and Operating Lease, Other Information [Table Text Block] | Cash paid for amounts included in the measurement of lease liabilities: Quarter Ended September 30, 2019 Operating cash flows for operating leases $ 81,905 Operating cash flows for finance leases $ 4,475 Financing cash flows for finance leases $ 24,229 |
Finance and Operating Lease, Liability, Maturity [Table Text Block] | Operating Leases Finance Leases Period Ending December 31, 2019 $ 27,492 $ 13,024 2020 109,969 29,529 2021 109,969 15,393 2022 109,221 5,472 2023 105,544 2,838 2024 104,458 1,655 Thereafter 43,000 - Total minimum lease payments 609,653 67,911 Less: amount of lease payments representing interest (42,089 ) (6,399 ) Present value of future minimum lease payments 567,564 61,344 Less: current obligations under leases (96,604 ) (32,640 ) Long-term lease obligations $ 470,960 $ 28,704 |
Note 6 - Disaggregated Revenu_2
Note 6 - Disaggregated Revenue by Routes, Direct and Mail Order (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | For the Three months ended September 30 Sales by department 2019 2018 Routes-wholesale $ 316,621 $ 342,083 Direct-wholesale 453,201 357,758 Mailorder-retail 96,953 100,308 Total $ 866,775 $ 800,149 For the Nine months ended September 30 Sales by department 2019 2018 Routes-wholesale $ 904,589 $ 991,440 Direct-wholesale 1,910,988 1,097,862 Mailorder-retail 304,977 324,638 Total $ 3,120,554 $ 2,413,940 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) shares in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($)shares | Sep. 30, 2018shares | Sep. 30, 2019USD ($)shares | Sep. 30, 2018shares | Jan. 01, 2019USD ($) | |
Operating Lease, Right-of-Use Asset | $ 567,564 | $ 567,564 | |||
Weighted Average Number Diluted Shares Outstanding Adjustment, Total (in shares) | shares | 0 | 0 | 0 | 0 | |
Operating Lease, Liability, Total | $ 567,564 | $ 567,564 | |||
Accounting Standards Update 2016-02 [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 625,826 | ||||
Operating Lease, Liability, Total | $ 625,826 | ||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||
Number of Major Customers | 1 | ||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 31.55% |
Note 2 - Accounts Receivable (D
Note 2 - Accounts Receivable (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Provision (Recovery) for Doubtful Accounts | $ 1,236 | $ (348) | $ 8,795 | $ (32) |
Company A [Member] | ||||
Accounts Receivable, before Allowance for Credit Loss, Noncurrent, Total | 1,192 | 1,192 | ||
Company B [Member] | ||||
Accounts Receivable, before Allowance for Credit Loss, Noncurrent, Total | $ 4,642 | $ 4,642 | ||
Minimum [Member] | ||||
Allowance for Doubtful Accounts Receivable, Percent | 1.00% | |||
Maximum [Member] | ||||
Allowance for Doubtful Accounts Receivable, Percent | 10.00% |
Note 2 - Accounts Receivable -
Note 2 - Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Accounts receivable | $ 249,953 | $ 226,104 |
Less: allowance for doubtful accounts | (4,635) | (7,315) |
Net accounts receivable | $ 245,318 | $ 218,789 |
Note 3 - Inventories - Summary
Note 3 - Inventories - Summary of Inventories (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Inventories | $ 269,177 | $ 237,708 |
Coffee, Unroasted [Member] | ||
Inventories | 172,795 | 161,355 |
Coffee, Roasted [Member] | ||
Inventories | 49,122 | 34,420 |
Tea [Member] | ||
Inventories | 1,597 | 1,723 |
Packaging, Supplies and Other Merchandise Held for Sale [Member] | ||
Inventories | $ 45,663 | $ 40,210 |
Note 4 - Properties and Equip_3
Note 4 - Properties and Equipment (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Depreciation, Total | $ 16,409 | $ 19,572 | $ 51,633 | $ 66,839 |
Note 4 - Properties and Equip_4
Note 4 - Properties and Equipment - Summary of Property and Equipment (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Property and equipment, net | $ 843,027 | $ 308,649 |
Equipment [Member] | ||
Property and equipment | 485,413 | 490,430 |
Furniture and Fixtures [Member] | ||
Property and equipment | 149,527 | 148,693 |
Leasehold Improvements [Member] | ||
Property and equipment | 368,954 | 366,698 |
Transportation Equipment [Member] | ||
Property and equipment | 50,217 | 178,497 |
Package Design [Member] | ||
Property and equipment | 41,000 | 41,000 |
Capitalized Website Development Costs [Member] | ||
Property and equipment | 19,000 | 19,000 |
Finance Lease Asset [Member] | ||
Property and equipment | 362,280 | 225,864 |
All Property and Equipment, Excluding Right of Use [Member] | ||
Property and equipment | 1,476,391 | 1,470,182 |
Accumulated depreciation | (1,200,928) | (1,161,533) |
Property and equipment, net | $ 275,463 | $ 308,649 |
Note 5 - Finance and Operatin_3
Note 5 - Finance and Operating Leases - Lease-related Assets and Liabilities (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Operating lease assets | $ 567,564 | |
Finance lease assets | 61,344 | |
Total lease assets | 628,908 | |
Operating | 96,604 | |
Finance | 32,640 | |
Operating | 470,960 | |
Finance | 28,704 | |
Total lease liabilities | $ 628,908 | |
Operating leases (years) (Year) | 4 years 182 days | |
Finance leases (years) (Year) | 1 year 339 days | |
Operating leases | 2.45% | |
Finance leases | 7.62% |
Note 5 - Finance and Operatin_4
Note 5 - Finance and Operating Leases - Lease Cost (Details) | 3 Months Ended |
Sep. 30, 2019USD ($) | |
Finance lease cost: | $ 28,704 |
Amortization of assets | 24,229 |
Interest on lease liabilities | 4,475 |
Operating lease cost: | 81,905 |
Short-term lease cost | |
Variable lease cost | |
Total lease cost | $ 110,609 |
Note 5 - Finance and Operatin_5
Note 5 - Finance and Operating Leases - Other Information (Details) | 3 Months Ended |
Sep. 30, 2019USD ($) | |
Operating cash flows for operating leases | $ 81,905 |
Operating cash flows for finance leases | 4,475 |
Financing cash flows for finance leases | $ 24,229 |
Note 5 - Finance and Operatin_6
Note 5 - Finance and Operating Leases - Undiscounted Cash Flows (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
2019, operating lease | $ 27,492 | |
2019, finance lease | 13,024 | |
2020, operating lease | 109,969 | |
2020, finance lease | 29,529 | |
2021, operating lease | 109,969 | |
2021, finance lease | 15,393 | |
2022, operating lease | 109,221 | |
2022, finance lease | 5,472 | |
2023, operating lease | 105,544 | |
2023, finance lease | 2,838 | |
2024, operating lease | 104,458 | |
2024, finance lease | 1,655 | |
Thereafter, operating lease | 43,000 | |
Thereafter, finance lease | ||
Total minimum lease payments, operating lease | 609,653 | |
Total minimum lease payments, finance lease | 67,911 | |
Less: amount of lease payments representing interest, operating lease | (42,089) | |
Less: amount of lease payments representing interest, finance lease | (6,399) | |
Present value of future minimum lease payments, operating lease | 567,564 | |
Present value of future minimum lease payments, finance lease | 61,344 | |
Less: current obligations under leases, operating lease | (96,604) | |
Less: current obligations under leases, finance lease | (32,640) | |
Operating | 470,960 | |
Long-term lease obligations, finance lease | $ 28,704 |
Note 6 - Disaggregated Revenu_3
Note 6 - Disaggregated Revenue by Routes, Direct and Mail Order - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenues | $ 866,775 | $ 800,149 | $ 3,120,554 | $ 2,413,940 |
Routes-wholesale [Member] | ||||
Revenues | 316,621 | 342,083 | 904,589 | 991,440 |
Direct-wholesale [Member] | ||||
Revenues | 453,201 | 357,758 | 1,910,988 | 1,097,862 |
Mailorder-retail [Member] | ||||
Revenues | $ 96,953 | $ 100,308 | $ 304,977 | $ 324,638 |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
ETICO [Member] | ||
Due to Related Parties, Current, Total | $ 48,567 | |
Repayments of Related Party Debt | $ 424,367 | $ 421,402 |
Majority Shareholder [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 5 years |
Note 9 - Business Segment (Deta
Note 9 - Business Segment (Details Textual) | 9 Months Ended |
Sep. 30, 2019 | |
Number of Reportable Segments | 1 |
Note 10 - Subsequent Events (De
Note 10 - Subsequent Events (Details Textual) - Subsequent Event [Member] | 1 Months Ended |
Apr. 30, 2020USD ($) | |
SBA CARES Act Paycheck Protection Program [Member] | |
Proceeds from Issuance of Long-term Debt, Total | $ 189,228 |
Non-interest Bearing Emergency COVID-19 Commercial Loan [Member] | |
Proceeds from Issuance of Long-term Debt, Total | $ 25,000 |