Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Feb. 28, 2019 | Apr. 15, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | BAB, INC. | |
Entity Central Index Key | 0001123596 | |
Trading Symbol | babb | |
Current Fiscal Year End Date | --11-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 7,263,508 | |
Document Type | 10-Q | |
Document Period End Date | Feb. 28, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Feb. 28, 2019 | Nov. 30, 2018 |
Current Assets | ||
Cash | $ 965,541 | $ 1,065,265 |
Restricted cash | 421,940 | 443,962 |
Receivables | ||
Trade accounts and notes receivable (net of allowance for doubtful accounts of $28,342 in 2019 and $39,377 in 2018 ) | 84,904 | 78,012 |
Marketing fund contributions receivable from franchisees and stores | 13,071 | 15,831 |
Prepaid expenses and other current assets | 62,243 | 69,490 |
Total Current Assets | 1,547,699 | 1,672,560 |
Property, plant and equipment (net of accumulated depreciation of $155,137 in 2019 and $155,024 in 2018) | 1,029 | 1,142 |
Trademarks | 459,637 | 459,637 |
Goodwill | 1,493,771 | 1,493,771 |
Definite lived intangible assets (net of accumulated amortization of $124,235 in 2019 and $123,949 in 2018) | 10,206 | 9,742 |
Operating lease right of use | 461,122 | 480,785 |
Deferred tax asset | 248,000 | 248,000 |
Total Noncurrent Assets | 2,673,765 | 2,693,077 |
Total Assets | 4,221,464 | 4,365,637 |
Current Liabilities | ||
Accounts payable | 37,272 | 38,224 |
Accrued expenses and other current liabilities | 299,593 | 296,227 |
Contract with customer, liability, current | 603,909 | |
Current portion operating lease liability | 55,879 | 48,635 |
Total Current Liabilities | 902,395 | 916,166 |
Long-term Liabilities (net of current portion) | ||
Operating lease liability | 448,390 | 449,409 |
Contract with customer, liability, noncurrent | 102,286 | |
Total Long-term Liabilities | 523,672 | 449,409 |
Total Liabilities | 1,426,067 | 1,365,575 |
Stockholders' Equity | ||
Preferred shares | ||
Common stock -$.001 par value; 15,000,000 shares authorized; 8,466,953 shares issued and 7,263,508 shares outstanding as of February 28, 2019 and November 30, 2018 | 13,508,257 | 13,508,257 |
Additional paid-in capital | 987,034 | 987,034 |
Treasury stock | (222,781) | (222,781) |
Accumulated deficit | (11,477,113) | (11,272,448) |
Total Stockholders' Equity | 2,795,397 | 3,000,062 |
Total Liabilities and Stockholders' Equity | 4,221,464 | 4,365,637 |
Series A Preferred Stock [Member] | ||
Stockholders' Equity | ||
Preferred shares | ||
Marketing Fund [Member] | ||
Current Liabilities | ||
Contract with customer, liability, current | 434,597 | 459,413 |
Franchise [Member] | ||
Current Liabilities | ||
Contract with customer, liability, current | 48,149 | 27,000 |
Long-term Liabilities (net of current portion) | ||
Contract with customer, liability, noncurrent | 65,163 | |
License [Member] | ||
Current Liabilities | ||
Contract with customer, liability, current | 26,905 | 46,667 |
Long-term Liabilities (net of current portion) | ||
Contract with customer, liability, noncurrent | $ 10,119 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Feb. 28, 2019 | Nov. 30, 2018 |
Trade accounts and notes receivable, allowance for doubtful accounts | $ 28,342 | $ 39,377 |
Property, plant and equipment, accumulated depreciation | 155,137 | 155,024 |
Definite lived intangible assets, accumulated amortization | $ 124,235 | $ 123,949 |
Preferred shares, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred shares, shares authorized (in shares) | 4,000,000 | 4,000,000 |
Preferred shares, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 15,000,000 | 15,000,000 |
Common stock, shares issued (in shares) | 8,466,953 | 8,466,953 |
Common stock, shares outstanding (in shares) | 7,263,508 | 7,263,508 |
Series A Preferred Stock [Member] | ||
Preferred shares, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred shares, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred shares, shares outstanding (in shares) | 0 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | ||
Feb. 28, 2019 | Feb. 28, 2018 | ||
REVENUES | |||
Revenues | $ 712,300 | $ 500,467 | |
OPERATING EXPENSES | |||
Payroll and payroll-related expenses | 215,935 | 207,362 | |
Occupancy | 19,636 | 39,839 | |
Advertising and promotion | 11,327 | 993 | |
Professional service fees | 59,634 | 61,309 | |
Travel | 7,959 | 9,075 | |
Employee benefit expenses | 39,733 | 27,471 | |
Depreciation and amortization | 399 | 152 | |
Marketing fund expenses | 228,788 | ||
Other | 27,289 | 38,460 | |
Total Operating Expenses | 610,700 | 384,661 | |
Income from operations | 101,600 | 115,806 | |
Interest income | 260 | 24 | |
Income before provision for income taxes | 101,860 | 115,830 | |
Provision for income taxes | |||
Current tax expense | 5,000 | 15,000 | |
Net Income | $ 96,860 | $ 100,830 | |
Net Income per share - Basic and Diluted (in dollars per share) | $ 0.01 | $ 0.01 | |
Weighted average shares outstanding - Basic and diluted (in shares) | 7,263,508 | 7,263,508 | |
Cash distributions declared per share (in dollars per share) | $ 0.03 | $ 0.02 | |
Royalty [Member] | |||
REVENUES | |||
Revenues | $ 373,118 | $ 385,051 | [1] |
Franchise [Member] | |||
REVENUES | |||
Revenues | 13,413 | [1] | |
Licensing Fees and Other Income [Member] | |||
REVENUES | |||
Revenues | 96,981 | 115,416 | |
Marketing Fund [Member] | |||
REVENUES | |||
Revenues | $ 228,788 | [1] | |
[1] | As disclosed in Note 2, prior period amounts have not been adjusted under the modified retrospective method of adoption of Topic 606. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Operating activities | ||
Net Income | $ 96,860 | $ 100,830 |
Adjustments to reconcile net income to cash flows provided by operating activities: | ||
Depreciation and amortization | 399 | 152 |
Provision for uncollectible accounts, net of recoveries | (11,035) | (1,163) |
Noncash lease expense | 25,888 | |
Changes in: | ||
Trade accounts receivable and notes receivable | 4,142 | 8,816 |
Marketing fund contributions receivable | 2,760 | 2,582 |
Inventories | 6,068 | |
Prepaid expenses and other | 8,596 | 6,614 |
Accounts payable | (952) | 4,172 |
Accrued liabilities | 624 | 27,529 |
Unexpended marketing fund contributions | (24,816) | (14,147) |
Deferred revenue | (5,556) | (893) |
Net Cash Provided by Operating Activities | 96,910 | 140,560 |
Investing activities | ||
Proceeds from sale of equipment | 4,516 | |
Capitalization of trademark renewals | (750) | (4,246) |
Net Cash (Used In)/Provided By Investing Activities | (750) | 270 |
Financing activities | ||
Cash distributions/dividends | (217,906) | (145,270) |
Net Cash Used In Financing Activities | (217,906) | (145,270) |
Net Decrease in Cash, Cash Equivalents and Restricted Cash | (121,746) | (4,440) |
Cash, Cash Equivalents and Restricted Cash - Beginning of Period | 1,509,227 | 1,486,080 |
Cash, Cash Equivalents and Restricted Cash - End of Period | 1,387,481 | 1,481,640 |
Supplemental disclosure of cash flow information: | ||
Interest paid | ||
Income taxes paid | $ 1,800 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 3 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1. BAB, Inc (“the Company”) has three December 2, 1992, 1997 1996 1995, none. 1999, 2009 no The Company was incorporated under the laws of the State of Delaware on July 12, 2000. February 28, 2019, 73 6 23 3 The BAB franchised brand consists of units operating as “Big Apple Bagels®,” featuring daily baked bagels, flavored cream cheeses, premium coffees, gourmet bagel sandwiches and other related products. BAB units are primarily concentrated in the Midwest and Western United States. The MFM brand consists of units operating as “My Favorite Muffin Gourmet Muffin Bakery™” (“MFM Bakery”), featuring a large variety of freshly baked muffins and coffees and units operating as “My Favorite Muffin Your All Day Bakery Café®” (“MFM Cafe”) featuring these products as well as a variety of specialty bagel sandwiches and related products. The SweetDuet® is a branded self-serve frozen yogurt that can be added as an additional brand in a BAB location. Although the Company doesn't actively market Brewster's stand-alone franchises, Brewster's coffee products are sold in most franchised units. The Company is leveraging on the natural synergy of distributing muffin products in existing BAB units and, alternatively, bagel products and Brewster's Coffee in existing MFM units. The Company expects to continue to realize efficiencies in servicing the combined base of BAB and MFM franchisees. The accompanying condensed consolidated financial statements are unaudited. These financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted pursuant to such SEC rules and regulations; nevertheless, the Company believes that the disclosures are adequate to make the information presented not 10 November 30, 2018 February 25, 2019. not |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of significant accounting policies Unaudited consolidated financial statements The accompanying unaudited Condensed Consolidated Financial Statements of BAB, Inc. have been prepared pursuant to generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for Form 10 Uses of estimates The preparation of the financial statements and accompanying notes are in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates. Accounts and Notes Receivable Receivables are carried at original invoice amount less estimates for doubtful accounts. Management determines the allowance for doubtful accounts by reviewing and identifying troubled accounts and by using historical collection experience. A receivable is considered to be past due if any portion of the receivable balance is outstanding 90 Property, Plant and Equipment Property and equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Estimated useful lives are 3 7 10 Advertising and Promotion Costs The Company expenses advertising and promotion costs as incurred. All advertising and promotion costs were related to the Company’s franchise operations. Earnings Per Share The Company computes earnings per share (“EPS”) under ASC 260 For the three months ended: February 28, 2019 February 28, 2018 Numerator: Net income available to common shareholders $ 96,860 $ 100,830 Denominator: Weighted average outstanding shares Basic and diluted common stock 7,263,508 7,263,508 Earnings per Share - Basic $ 0.01 $ 0.01 Leases The company accounts for leases under ASU 2016 02. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not may For certain equipment leases, such as vehicles, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities. Recently Adopted Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers 606” 606. first 2019 606 not December 1, 2018. The Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of accumulated deficit at the beginning of fiscal 2019. not 605” 3 Liabilities In March 2016, 2016 04, Recognition of Breakage for Certain Prepaid Stored-Value Products 405 20, Liabilities-Extinguishments of Liabilities may not December 1, 2018 606, 3 S tatement of Cash Flows In November 2016, No. 2016 18, 230 2016 18” 2016 18 2016 18 December 15, 2017. December 1, 2018 The chart below show the cash, cash equivalents, and restricted cash within the consolidated statements of cash flows as of February 28, 2019 February 28, 2018 February 28, 2019 February 28, 2018 Cash and cash equivalents $ 965,541 $ 799,564 Restricted cash 421,940 682,076 Total cash, cash equivalents and restricted cash $ 1,387,481 $ 1,481,640 |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 3 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3. The Company adopted Topic 606 December 1, 2018 $84,000. no 606 December 1, 2018, not 605. The adoption changed the timing of recognition of initial franchise fees, development fees, the reporting of advertising fund contributions and related expenditures, as well as timing of the recognition of gift card breakage. The cumulative effects of the changes made to the Condensed Consolidated Balance Sheets as of December 1, 2018, 606 Balance at November 30, 2018 Adjustments Due to ASC 606 Balance at December 1, 2018 Assets Other assets $ 66,295 $ (1,348 ) $ 64,947 Liabilities Accrued gift card liability 146,290 2,742 149,032 Other current liabilities Deferred revenue 27,000 82,225 109,225 Shareholders (deficit) equity Accumulated deficit (11,272,448 ) (83,619 ) (11,356,067 ) The following table presents disaggregation of revenue from contracts with customers for the three February 28, 2019 2018: For three months ended February 28, 2019 For three months ended February 28, 2018 (1) Royalty revenue $ 373,118 $ 385,051 Franchise fees 13,413 - License fees 2,500 - Gift card revenue 1,631 26,260 Sign Shop revenue 372 1,788 Settlement revenue 30,220 36,475 Nontraditional revenue 62,258 50,893 Marketing fund revenue 228,788 - Net revenue $ 712,300 $ 500,467 ( 1 As disclosed in Note 2, not 606. Franchise and related revenue The Company sells individual franchises. The franchise agreements typically require the franchisee to pay an initial, non-refundable fee prior to opening the respective location(s), and continuing royalty fees on a weekly basis based upon a percentage of franchisee net sales. The initial term of franchise agreements are typically 10 may may no Under the terms of our franchise agreements, the Company typically promises to provide franchise rights, pre-opening services such as blueprints, operational materials, planning and functional training courses, and ongoing services, such as management of the marketing fund. Under ASC 605, 606, two two Royalty income is recognized during the respective franchise agreement based on the royalties earned each period as the underlying franchise store sales occur. Adoption of ASC 606 not not There are two one Gift Card Breakage Revenue The Company sells gift cards to its customers in its retail stores and through its Corporate office. The Company’s gift cards do not not Previously, under Topic 605, first not 606, Nontraditional and rebate revenue As part of the Company’s franchise agreements, the franchisee purchases products and supplies from designated vendors. The Company may may not 606 not Marketing Fund Franchise agreements require the franchisee to pay continuing marketing fees on a weekly basis, based on a percentage of franchisees sales. Marketing fees are not 606, not no Contract balances Information about contract balances subject to ASC 606 February 28, 2019 December 1, 2018 Assets Accounts receivable $ 76,577 $ 36,337 Total Assets 76,577 36,337 Liabilities Contract liabilities - current 603,909 647,594 Contract liabilities - long-term 102,286 106,948 Total Contract Liabilities $ 706,195 $ 754,542 Accounts receivable represent weekly royalty payments and monthly vendor rebate payments that represent billed and unbilled receivables due as of February 28, 2019 December 1, 2018. Accounts Receivable Contract Liabilities Balance at beginning of period $ 36,337 $ 754,542 Revenue Recognized - (48,347 ) Amounts (collected) or invoiced, net 40,240 - Balance at end of period $ 76,577 $ 706,195 Transaction price allocated to remaining performance obligations: 2019 (a) $ 48,050 2020 20,671 2021 19,254 2022 17,292 2023 12,598 Thereafter 32,471 Total $ 150,336 (a) represents the estimate for the remainder of 2019 The Company has elected to apply certain practical expedients as defined in ASC 606 10 50 14 606 10 50 14A, one not November 30, 2018. Impact of the Adoption of ASC 606 The adoption changed the timing of recognition of initial franchise fees, the reporting of advertising fund contributions and related expenditures, as well as timing of the recognition of gift card breakage. In accordance with the new revenue standard requirements, the following tables summarize the effects of the new standard on the Company’s Consolidated Balance Sheet and Statement of Operations for the three February 28, 2019. As reported February 28, 2019 Effect of change Balance without ASC 606 adoption Assets Other assets $ 1,547,699 $ 1,348 $ 1,546,351 Liabilities Accrued gift card liability 155,391 26,665 128,726 Other current liabilities Deferred revenue 150,336 91,972 58,364 Shareholders (deficit) equity Accumulated deficit (11,477,113 ) (40,125 ) (11,436,988 ) As reported February 28, 2019 Effect of change Balance without ASC606 adoption Royalty revenue $ 373,118 $ - $ 373,118 Franchise fees 13,413 3,413 10,000 License fees 2,500 (12,500 ) 15,000 Gift card revenue 1,631 (31,038 ) 32,669 Sign Shop revenue 372 - 372 Settlement revenue 30,220 - 30,220 Nontradtional revenue 62,258 - 62,258 Marketing fund revenue 228,788 228,788 0 Net revenue 712,300 188,663 523,637 Expenses unaffected by ASC 606 381,912 - 381,912 Marketing fund expenses 228,788 228,788 0 Interest (income)/expense (260 ) - (260 ) Income tax expense 5,000 - 5,000 Net expenses 615,440 228,788 386,652 Net income $ 96,860 $ (40,125 ) $ 136,985 |
Note 4 - Units Open and Under D
Note 4 - Units Open and Under Development | 3 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Units Open and Under Development [Text Block] | 4. Units which are open or under development at February 28, 2019 Stores open: Franchisee-owned stores 73 Licensed Units 6 79 Unopened stores with Franchise Agreements 3 Total operating units and units with Franchise Agreements 82 |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 3 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 5. The following table sets forth the computation of basic and diluted earnings per share: For the three months ended: February 28, 2019 February 28, 2018 Numerator: Net income available to common shareholders $ 96,860 $ 100,830 Denominator: Weighted average outstanding shares Basic and diluted common stock 7,263,508 7,263,508 Earnings per Share - Basic $ 0.01 $ 0.01 |
Note 6 - Goodwill and Other Int
Note 6 - Goodwill and Other Intangible Assets | 3 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 6 . Goodwill and Other Intangible Assets Accounting Standard Codification (“ASC”) 350 no Following the guidelines contained in ASC 350, not first February 28, 2019, not not February 28, 2019, not |
Note 7 - Lease Commitments
Note 7 - Lease Commitments | 3 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 7. The Company rents its office under an operating lease which requires it to pay base rent, real estate taxes, insurance and general repairs and maintenance. A lease was signed in June 2018, October 1, 2018, March 31, 2024 5 six not not Monthly rent expense is recognized on a straight-line basis over the term of the lease. At February 28, 2019 61 5.25% Gross future minimum annual rental commitments as of February 28, 2019, Undiscounted Rent Payments Year Ending November 30: 2019 $ 71,965 2020 110,375 2021 113,024 2022 115,673 2023 118,322 Thereafter 40,176 Total Undiscounted Rent Payments 569,535 Present Value Discount (65,266 ) Present Value $ 504,269 Short-term lease liability $ 55,879 Long-term lease liability 448,390 Total Operating Lease Liability $ 504,269 |
Note 8 - Recent Accounting Pron
Note 8 - Recent Accounting Pronouncements | 3 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | 8 . Recent Accounting Pronouncements Management does not not February 28, 2019 |
Note 9 - Stockholder's Equity
Note 9 - Stockholder's Equity | 3 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 9 . Stockholder’s Equity On December 6, 2018, $0.01 $0.02 January 11, 2019. On March 13, 2019, $0.01 March 29, 2019 April 18, 2019 On May 6, 2013, one May 13, 2013. one one $0.90 one May 6, 2013, The Board adopted the Rights Agreement to protect stockholders from coercive or otherwise unfair takeover tactics. In general terms, it works by imposing a significant penalty upon any person or group that acquires 15% 20% 13G may not Full details about the Rights Plan are contained in a Form 8 May 7, 2013. On June 18, 2014 August 18, 2015 fifth May 22, 2017 seventh February 22, 2019 ninth |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Feb. 28, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Unaudited consolidated financial statements The accompanying unaudited Condensed Consolidated Financial Statements of BAB, Inc. have been prepared pursuant to generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for Form 10 |
Use of Estimates, Policy [Policy Text Block] | Uses of estimates The preparation of the financial statements and accompanying notes are in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates. |
Receivables, Policy [Policy Text Block] | Accounts and Notes Receivable Receivables are carried at original invoice amount less estimates for doubtful accounts. Management determines the allowance for doubtful accounts by reviewing and identifying troubled accounts and by using historical collection experience. A receivable is considered to be past due if any portion of the receivable balance is outstanding 90 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property and equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Estimated useful lives are 3 7 10 |
Advertising Costs, Policy [Policy Text Block] | Advertising and Promotion Costs The Company expenses advertising and promotion costs as incurred. All advertising and promotion costs were related to the Company’s franchise operations. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share The Company computes earnings per share (“EPS”) under ASC 260 For the three months ended: February 28, 2019 February 28, 2018 Numerator: Net income available to common shareholders $ 96,860 $ 100,830 Denominator: Weighted average outstanding shares Basic and diluted common stock 7,263,508 7,263,508 Earnings per Share - Basic $ 0.01 $ 0.01 |
Lessee, Leases [Policy Text Block] | Leases The company accounts for leases under ASU 2016 02. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not may For certain equipment leases, such as vehicles, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers 606” 606. first 2019 606 not December 1, 2018. The Company recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of accumulated deficit at the beginning of fiscal 2019. not 605” 3 Liabilities In March 2016, 2016 04, Recognition of Breakage for Certain Prepaid Stored-Value Products 405 20, Liabilities-Extinguishments of Liabilities may not December 1, 2018 606, 3 S tatement of Cash Flows In November 2016, No. 2016 18, 230 2016 18” 2016 18 2016 18 December 15, 2017. December 1, 2018 The chart below show the cash, cash equivalents, and restricted cash within the consolidated statements of cash flows as of February 28, 2019 February 28, 2018 February 28, 2019 February 28, 2018 Cash and cash equivalents $ 965,541 $ 799,564 Restricted cash 421,940 682,076 Total cash, cash equivalents and restricted cash $ 1,387,481 $ 1,481,640 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the three months ended: February 28, 2019 February 28, 2018 Numerator: Net income available to common shareholders $ 96,860 $ 100,830 Denominator: Weighted average outstanding shares Basic and diluted common stock 7,263,508 7,263,508 Earnings per Share - Basic $ 0.01 $ 0.01 |
Cash, Cash Equivalents, and Restricted Cash, Cash Flow Statement Reconciliation [Table Text Block] | February 28, 2019 February 28, 2018 Cash and cash equivalents $ 965,541 $ 799,564 Restricted cash 421,940 682,076 Total cash, cash equivalents and restricted cash $ 1,387,481 $ 1,481,640 |
Note 3 - Revenue Recognition (T
Note 3 - Revenue Recognition (Tables) | 3 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Balance at November 30, 2018 Adjustments Due to ASC 606 Balance at December 1, 2018 Assets Other assets $ 66,295 $ (1,348 ) $ 64,947 Liabilities Accrued gift card liability 146,290 2,742 149,032 Other current liabilities Deferred revenue 27,000 82,225 109,225 Shareholders (deficit) equity Accumulated deficit (11,272,448 ) (83,619 ) (11,356,067 ) |
Disaggregation of Revenue [Table Text Block] | For three months ended February 28, 2019 For three months ended February 28, 2018 (1) Royalty revenue $ 373,118 $ 385,051 Franchise fees 13,413 - License fees 2,500 - Gift card revenue 1,631 26,260 Sign Shop revenue 372 1,788 Settlement revenue 30,220 36,475 Nontraditional revenue 62,258 50,893 Marketing fund revenue 228,788 - Net revenue $ 712,300 $ 500,467 |
Contract With Customer Asset and Liability, Subject to Change [Table Text Block] | February 28, 2019 December 1, 2018 Assets Accounts receivable $ 76,577 $ 36,337 Total Assets 76,577 36,337 Liabilities Contract liabilities - current 603,909 647,594 Contract liabilities - long-term 102,286 106,948 Total Contract Liabilities $ 706,195 $ 754,542 |
Contract with Customer, Asset and Liability [Table Text Block] | Accounts Receivable Contract Liabilities Balance at beginning of period $ 36,337 $ 754,542 Revenue Recognized - (48,347 ) Amounts (collected) or invoiced, net 40,240 - Balance at end of period $ 76,577 $ 706,195 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | 2019 (a) $ 48,050 2020 20,671 2021 19,254 2022 17,292 2023 12,598 Thereafter 32,471 Total $ 150,336 |
Accounting Standards Update 2014-09 [Member] | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | As reported February 28, 2019 Effect of change Balance without ASC 606 adoption Assets Other assets $ 1,547,699 $ 1,348 $ 1,546,351 Liabilities Accrued gift card liability 155,391 26,665 128,726 Other current liabilities Deferred revenue 150,336 91,972 58,364 Shareholders (deficit) equity Accumulated deficit (11,477,113 ) (40,125 ) (11,436,988 ) As reported February 28, 2019 Effect of change Balance without ASC606 adoption Royalty revenue $ 373,118 $ - $ 373,118 Franchise fees 13,413 3,413 10,000 License fees 2,500 (12,500 ) 15,000 Gift card revenue 1,631 (31,038 ) 32,669 Sign Shop revenue 372 - 372 Settlement revenue 30,220 - 30,220 Nontradtional revenue 62,258 - 62,258 Marketing fund revenue 228,788 228,788 0 Net revenue 712,300 188,663 523,637 Expenses unaffected by ASC 606 381,912 - 381,912 Marketing fund expenses 228,788 228,788 0 Interest (income)/expense (260 ) - (260 ) Income tax expense 5,000 - 5,000 Net expenses 615,440 228,788 386,652 Net income $ 96,860 $ (40,125 ) $ 136,985 |
Note 4 - Units Open and Under_2
Note 4 - Units Open and Under Development (Tables) | 3 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Schedule of Franchisor Disclosure [Table Text Block] | Stores open: Franchisee-owned stores 73 Licensed Units 6 79 Unopened stores with Franchise Agreements 3 Total operating units and units with Franchise Agreements 82 |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 3 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the three months ended: February 28, 2019 February 28, 2018 Numerator: Net income available to common shareholders $ 96,860 $ 100,830 Denominator: Weighted average outstanding shares Basic and diluted common stock 7,263,508 7,263,508 Earnings per Share - Basic $ 0.01 $ 0.01 |
Note 7 - Lease Commitments (Tab
Note 7 - Lease Commitments (Tables) | 3 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Undiscounted Rent Payments Year Ending November 30: 2019 $ 71,965 2020 110,375 2021 113,024 2022 115,673 2023 118,322 Thereafter 40,176 Total Undiscounted Rent Payments 569,535 Present Value Discount (65,266 ) Present Value $ 504,269 Short-term lease liability $ 55,879 Long-term lease liability 448,390 Total Operating Lease Liability $ 504,269 |
Note 1 - Nature of Operations (
Note 1 - Nature of Operations (Details Textual) | Feb. 28, 2019 |
Number of Wholly Owned Subsidiaries | 3 |
Number of Stores | 82 |
Number of States in which Entity Operates | 23 |
Franchised Units [Member] | |
Number of Stores | 73 |
Licensed Units [Member] | |
Number of Stores | 6 |
Units Under Development [Member] | |
Number of Stores | 3 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended |
Feb. 28, 2019 | |
Leasehold Improvements [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 7 years |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Computation of Earnings Per Share (Details) - USD ($) | 3 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Net income available to common shareholders | $ 96,860 | $ 100,830 |
Weighted average shares outstanding - Basic and diluted (in shares) | 7,263,508 | 7,263,508 |
Net Income per share - Basic and Diluted (in dollars per share) | $ 0.01 | $ 0.01 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Summary of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) | Feb. 28, 2019 | Nov. 30, 2018 | Feb. 28, 2018 | Nov. 30, 2017 |
Cash and cash equivalents | $ 965,541 | $ 1,065,265 | $ 799,564 | |
Restricted cash | 421,940 | 682,076 | ||
Total cash, cash equivalents and restricted cash | $ 1,387,481 | $ 1,509,227 | $ 1,481,640 | $ 1,486,080 |
Note 3 - Revenue Recognition (D
Note 3 - Revenue Recognition (Details Textual) - USD ($) | Dec. 01, 2018 | Feb. 28, 2019 |
Initial Franchise Term | 10 years | |
Accounting Standards Update 2014-09 [Member] | ||
Cumulative Effect on Retained Earnings, before Tax | $ 84,000 | |
Cumulative Effect on Retained Earnings, Tax | $ 0 |
Note 3 - Revenue Recognition -
Note 3 - Revenue Recognition - Adoption of ASC 606 (Details) - USD ($) | Feb. 28, 2019 | Dec. 01, 2018 | Nov. 30, 2018 |
Other assets | $ 1,547,699 | $ 64,947 | $ 66,295 |
Accrued gift card liability | 155,391 | 149,032 | 146,290 |
Deferred revenue | 150,336 | 109,225 | 27,000 |
Accumulated deficit | (11,477,113) | (11,356,067) | $ (11,272,448) |
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||
Other assets | 1,348 | (1,348) | |
Accrued gift card liability | 26,665 | 2,742 | |
Deferred revenue | 91,972 | 82,225 | |
Accumulated deficit | $ (40,125) | $ (83,619) |
Note 3 - Revenue Recognition _2
Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | ||
Feb. 28, 2019 | Feb. 28, 2018 | ||
Revenues | $ 712,300 | $ 500,467 | |
Royalty [Member] | |||
Revenues | 373,118 | 385,051 | [1] |
Franchise [Member] | |||
Revenues | 13,413 | [1] | |
License [Member] | |||
Revenues | 2,500 | [1] | |
Gift Card [Member] | |||
Revenues | 1,631 | 26,260 | [1] |
Sign Shop [Member] | |||
Revenues | 372 | 1,788 | [1] |
Structured Settlement Annuity [Member] | |||
Revenues | 30,220 | 36,475 | [1] |
Non-traditional Revenue [Member] | |||
Revenues | 62,258 | 50,893 | [1] |
Marketing Fund [Member] | |||
Revenues | $ 228,788 | [1] | |
[1] | As disclosed in Note 2, prior period amounts have not been adjusted under the modified retrospective method of adoption of Topic 606. |
Note 3 - Revenue Recognition _3
Note 3 - Revenue Recognition - Contract Balances Subject to ASC 606 (Details) - USD ($) | Feb. 28, 2019 | Dec. 01, 2018 | Nov. 30, 2018 |
Accounts receivable | $ 76,577 | $ 36,337 | |
Total Assets | 76,577 | 36,337 | $ 36,337 |
Contract liabilities - current | 603,909 | 647,594 | |
Contract liabilities - long-term | 102,286 | 106,948 | |
Total Contract Liabilities | $ 706,195 | $ 754,542 | $ 754,542 |
Note 3 - Revenue Recognition _4
Note 3 - Revenue Recognition - Changes in Contract Balances (Details) | 3 Months Ended |
Feb. 28, 2019USD ($) | |
Balance at beginning of period, accounts receivable | $ 36,337 |
Amounts (collected) or invoiced, net, accounts receivable | 40,240 |
Balance at end of period, accounts receivable | 76,577 |
Balance at beginning of period, contract liabilities | 754,542 |
Revenue Recognized, contract liabilities | (48,347) |
Balance at end of period, contract liabilities | $ 706,195 |
Note 3 - Revenue Recognition _5
Note 3 - Revenue Recognition - Remaining Performance Obligations (Details) | Feb. 28, 2019USD ($) |
Revenue, remaining performance obligation, amount | $ 150,336 |
Note 3 - Revenue Recognition _6
Note 3 - Revenue Recognition - Remaining Performance Obligations 2 (Details) | Feb. 28, 2019USD ($) | |
Revenue, remaining performance obligation, amount | $ 150,336 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-03-01 | ||
Revenue, remaining performance obligation, expected timing of satisfaction, period (Year) | 48050 years | [1] |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-01 | ||
Revenue, remaining performance obligation, amount | $ 20,671 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-01 | ||
Revenue, remaining performance obligation, amount | 19,254 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-01 | ||
Revenue, remaining performance obligation, amount | 17,292 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-01 | ||
Revenue, remaining performance obligation, amount | 12,598 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-01 | ||
Revenue, remaining performance obligation, amount | $ 32,471 | |
[1] | represents the estimate for the remainder of 2019 |
Note 3 - Revenue Recognition _7
Note 3 - Revenue Recognition - Impact of the Adoption of ASC 606 (Details) - USD ($) | 3 Months Ended | ||||
Feb. 28, 2019 | Feb. 28, 2018 | Dec. 01, 2018 | Nov. 30, 2018 | ||
Other assets | $ 1,547,699 | $ 64,947 | $ 66,295 | ||
Accrued gift card liability | 155,391 | 149,032 | 146,290 | ||
Deferred revenue | 150,336 | 109,225 | 27,000 | ||
Accumulated deficit | (11,477,113) | (11,356,067) | $ (11,272,448) | ||
Revenues | 712,300 | $ 500,467 | |||
Expenses unaffected by ASC 606 | 381,912 | ||||
Marketing fund expenses | 228,788 | ||||
Interest (income)/expense | (260) | (24) | |||
Income tax expense | 5,000 | 15,000 | |||
Net expenses | 615,440 | ||||
Net Income | 96,860 | 100,830 | |||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||
Other assets | 1,348 | (1,348) | |||
Accrued gift card liability | 26,665 | 2,742 | |||
Deferred revenue | 91,972 | 82,225 | |||
Accumulated deficit | (40,125) | $ (83,619) | |||
Revenues | 188,663 | ||||
Expenses unaffected by ASC 606 | |||||
Marketing fund expenses | 228,788 | ||||
Interest (income)/expense | |||||
Income tax expense | |||||
Net expenses | 228,788 | ||||
Net Income | (40,125) | ||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Other assets | 1,546,351 | ||||
Accrued gift card liability | 128,726 | ||||
Deferred revenue | 58,364 | ||||
Accumulated deficit | (11,436,988) | ||||
Revenues | 523,637 | ||||
Expenses unaffected by ASC 606 | 381,912 | ||||
Marketing fund expenses | 0 | ||||
Interest (income)/expense | (260) | ||||
Income tax expense | 5,000 | ||||
Net expenses | 386,652 | ||||
Net Income | 136,985 | ||||
Royalty [Member] | |||||
Revenues | 373,118 | 385,051 | [1] | ||
Royalty [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||
Revenues | |||||
Royalty [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenues | 373,118 | ||||
Franchise [Member] | |||||
Revenues | 13,413 | [1] | |||
Franchise [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||
Revenues | 3,413 | ||||
Franchise [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenues | 10,000 | ||||
License [Member] | |||||
Revenues | 2,500 | [1] | |||
License [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||
Revenues | (12,500) | ||||
License [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenues | 15,000 | ||||
Gift Card [Member] | |||||
Revenues | 1,631 | 26,260 | [1] | ||
Gift Card [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||
Revenues | (31,038) | ||||
Gift Card [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenues | 32,669 | ||||
Sign Shop [Member] | |||||
Revenues | 372 | 1,788 | [1] | ||
Sign Shop [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||
Revenues | |||||
Sign Shop [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenues | 372 | ||||
Structured Settlement Annuity [Member] | |||||
Revenues | 30,220 | 36,475 | [1] | ||
Structured Settlement Annuity [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||
Revenues | |||||
Structured Settlement Annuity [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenues | 30,220 | ||||
Non-traditional Revenue [Member] | |||||
Revenues | 62,258 | 50,893 | [1] | ||
Non-traditional Revenue [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||
Revenues | |||||
Non-traditional Revenue [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenues | 62,258 | ||||
Marketing Fund [Member] | |||||
Revenues | 228,788 | [1] | |||
Marketing Fund [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||
Revenues | 228,788 | ||||
Marketing Fund [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenues | $ 0 | ||||
[1] | As disclosed in Note 2, prior period amounts have not been adjusted under the modified retrospective method of adoption of Topic 606. |
Note 4 - Units Open and Under_3
Note 4 - Units Open and Under Development - Operating Units (Details) | Feb. 28, 2019 |
Operating Units and Units with Franchise Agreements | 82 |
Franchised Units [Member] | |
Operating Units and Units with Franchise Agreements | 73 |
Licensed Units [Member] | |
Operating Units and Units with Franchise Agreements | 6 |
Total Franchised Owned and Licensed Units [Member] | |
Operating Units and Units with Franchise Agreements | 79 |
Unopened Store [Member] | |
Operating Units and Units with Franchise Agreements | 3 |
Note 5 - Earnings Per Share - C
Note 5 - Earnings Per Share - Computation of Earnings Per Share (Details) - USD ($) | 3 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Net income available to common shareholders | $ 96,860 | $ 100,830 |
Weighted average shares outstanding - Basic and diluted (in shares) | 7,263,508 | 7,263,508 |
Net Income per share - Basic and Diluted (in dollars per share) | $ 0.01 | $ 0.01 |
Note 6 - Goodwill and Other I_2
Note 6 - Goodwill and Other Intangible Assets (Details Textual) $ in Thousands | 3 Months Ended |
Feb. 28, 2019USD ($) | |
Goodwill, Impairment Loss | $ 0 |
Note 7 - Lease Commitments (Det
Note 7 - Lease Commitments (Details Textual) | Oct. 01, 2018 | Feb. 28, 2019 |
Lessee, Operating Lease, Renewal Term | 5 years | |
Lessee, Operating Lease, Rent Abatement and Tenant Allowance Period | 180 days | |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 30 days | |
Lessee, Operating Lease, Discount Rate | 5.25% | |
Lease Expiration Date | Mar. 31, 2024 |
Note 7 - Lease Commitments - Gr
Note 7 - Lease Commitments - Gross Future Minimum Annual Rental Commitments (Details) - USD ($) | Feb. 28, 2019 | Nov. 30, 2018 |
2019 | $ 71,965 | |
2020 | 110,375 | |
2021 | 113,024 | |
2022 | 115,673 | |
2023 | 118,322 | |
Thereafter | 40,176 | |
Total Undiscounted Rent Payments | 569,535 | |
Present Value Discount | (65,266) | |
Present Value | 504,269 | |
Short-term lease liability | 55,879 | $ 48,635 |
Long-term lease liability | 448,390 | $ 449,409 |
Total Operating Lease Liability | $ 504,269 |
Note 9 - Stockholder's Equity (
Note 9 - Stockholder's Equity (Details Textual) - $ / shares | Mar. 13, 2019 | Feb. 22, 2019 | Jan. 11, 2019 | Dec. 06, 2018 | May 22, 2017 | Aug. 18, 2015 | May 13, 2013 | May 06, 2013 | Feb. 28, 2019 | Feb. 28, 2018 |
Common Stock, Dividends, Per Share, Declared | $ 0.03 | $ 0.02 | ||||||||
Preferred Stock Dividends Number of Rights Declared | 1 | |||||||||
Preferred Stock Dividends Number of Rights Issued | 1 | |||||||||
Preferred Stock Dividends Number of Rights Minimum Percent of Common Stock that must be Acquired to Make Rights Exercisable | 15.00% | |||||||||
Preferred Stock Dividends Number of Rights Minimum Percent of Common Stock that Must be Acquired to Make Rights Exercisable, Institutional Investors | 20.00% | |||||||||
Right to Purchase Series A Preferred Stock [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.001 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.90 | |||||||||
Class of Warrant or Right, Term | 9 years | 7 years | 5 years | |||||||
Quarterly Dividend [Member] | ||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.01 | |||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.01 | |||||||||
Quarterly Dividend [Member] | Subsequent Event [Member] | ||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.01 | |||||||||
Dividends Payable, Date of Record | Mar. 29, 2019 | |||||||||
Dividends Payable, Date to be Paid | Apr. 18, 2019 | |||||||||
Special Cash Distribution [Member] | ||||||||||
Common Stock, Dividends, Per Share, Declared | $ 0.02 | |||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.02 |