Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Jun. 30, 2018 | |
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 Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 1,236,744 | |
Entity Public Float | $ 0 | |
Entity Shell Company | false | |
Document Type | 10-K | |
Document Period End Date | Dec. 31, 2018 | |
Document Fiscal Year Focus | 2018 | |
Document Fiscal Period Focus | FY | |
Amendment Flag | false |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets | ||
Cash | $ 153,646 | $ 160,392 |
Accounts receivable, net | 218,789 | 229,877 |
Inventory | 237,708 | 262,108 |
Prepaid and other current assets | 90,431 | 57,780 |
Total current assets | 700,574 | 710,157 |
Property and equipment | ||
Property and equipment | 1,470,182 | 1,474,406 |
Accumulated depreciation | (1,161,533) | (1,109,787) |
Total property and equipment | 308,649 | 364,619 |
Other assets | ||
Deposits | 4,168 | 3,112 |
Total other assets | 4,168 | 3,112 |
Total assets | 1,013,391 | 1,077,888 |
Current liabilities | ||
Accounts payable | 217,828 | 213,942 |
Accrued liabilities | 62,817 | 65,299 |
Current portion of long term debt | 48,262 | 46,476 |
Total current liabilities | 328,907 | 325,717 |
Long-term debt | 84,564 | 114,229 |
Less current portion of long term debt | (48,262) | (46,476) |
Total long-term debt | 36,302 | 67,753 |
Total liabilities | 365,209 | 393,470 |
Stockholders’ equity | ||
Common stock, no par value, 1,960,000 shared authorized, 1,236,744 shares issued and outstanding | 861,816 | 861,816 |
Additional paid in capital | 24,600 | 24,600 |
Retained earnings (deficit) | (238,234) | (201,998) |
Total stockholders’ equity | 648,182 | 684,418 |
Total liabilities and stockholders’ equity | $ 1,013,391 | $ 1,077,888 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 1,960,000 | 1,960,000 |
Common stock, shares issued (in shares) | 1,236,744 | 1,236,744 |
Common stock, shares outstanding (in shares) | 1,236,744 | 1,236,744 |
Statements of Income and Retain
Statements of Income and Retained Earnings - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Sales | $ 3,226,269 | $ 3,506,756 |
Cost of goods sold | 1,859,691 | 2,037,846 |
Gross Profit | 1,366,578 | 1,468,910 |
Operating Expenses | 1,406,092 | 1,516,527 |
Operating profit (loss) | (39,514) | (47,617) |
Other income (expense) | ||
Interest income | 82 | 1,297 |
Interest expense | (7,284) | (7,061) |
Total other income (expense) | 11,280 | (24,656) |
4,078 | (30,420) | |
Loss before income taxes | (35,436) | (78,037) |
Provision for income taxes | (800) | (800) |
Net Loss | (36,236) | (78,837) |
Retained earnings, (deficit) beginning of year | (201,998) | (123,161) |
Accumulated deficit, end of year | $ (238,234) | $ (201,998) |
Earnings (loss) per share, basic and diluted (in dollars per share) | $ (0.029) | $ (0.064) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | ||
Net Income (Loss) | $ (36,236) | $ (78,837) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
Depreciation & Amortization | 51,746 | 117,346 |
(Increase) decrease in: | ||
Accounts receivable, net | 11,088 | 9,861 |
Inventory | 24,400 | 17,643 |
Prepaid and other assets | (32,651) | 51,694 |
Deposits and other assets | (1,056) | 9,130 |
Accounts payable | 3,886 | (72,910) |
Accrued and other liabilities | (2,482) | (2,045) |
Net cash provided by operating activities | 18,695 | 51,882 |
Cash flows from investing activities | ||
Purchases of property and equipment | 4,224 | (55,586) |
Net cash provided by (used in) investing activities | 4,224 | (55,586) |
Cash flows from financing activities | ||
Increase in long-term debt | 0 | 29,728 |
Principal payments on long-term debt | (29,665) | (16,068) |
Net cash provided by (used in) financing activities | (29,665) | 13,660 |
Net increase (decrease) in cash | (6,746) | 10,456 |
Cash, beginning of year | 160,392 | 149,936 |
Cash, end of year | 153,646 | 160,392 |
Supplemental disclosure of cash flow information: | ||
Interest paid | 7,284 | 7,061 |
Income taxes paid | $ 800 | $ 800 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Summary of Significant Accounting Policies Nature of Operations Thanksgiving Coffee Company, Inc. (the “Company”), a California Corporation, engages in sourcing, blending and roasting high quality green coffee beans from small scale farmer co-ops worldwide with an emphasis on sustainability and fair trade certified coffee beans. The Company operates from their headquarters on the Mendocino coast in Fort Bragg, California, where they package, market and distribute the quality branded coffee products through retail and wholesale distribution processes in addition to an internet presence. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of year or less at the time of purchase to be cash equivalents, and maintain its cash in bank deposit accounts at high credit quality financial institutions. Effective January 1, 2013, $250,000 Concentration of Credit Risk For the years ending December 31, 2018, December 31, 2017, one 8% 10%, As of December 31, 2018, no 10% December 31, 2017, one 10% For the years ending December 31, 2018 2017, one 54%, 49%, 6 As of December 31, 2018, 25%, 19% 9% December 31, 2017, 25% 11% Accounts Receivable The Company extends credit to customers in the normal course of business and performs ongoing credit evaluations of customers, maintaining allowances for potential credit losses which, when realized, have been within management’s expectations. Invoices are aged based on terms with the customer. The Company utilizes a percentage method to establish the allowance for doubtful accounts. The estimated allowance ranges from 1% 10% December 31, 2018 2017 $7,315, $6,239, The bad debt-write-offs for the years ended December 31, 2018, 2017 $1,162, $503 Inventory Inventory is stated at the lower of cost, determined using the first first Property and Equipment Property and equipment are stated at cost and depreciated over their estimated useful lives using the straight-line method for financial reporting purposes and accelerated methods for income tax reporting purposes; maintenance and repair costs are charged against operations as incurred. The estimated useful lives of the assets are as follows: Estimated Useful (in years) Automobiles 5 Equipment and fixtures 5 - 7 Office furniture and equipment 5 - 7 Leased equipment 5 - 12 Leasehold improvements 7 - 39 Revenue Recognition Sales are recognized when revenue is realized or becomes realizable and has been earned. In general, revenue is recognized when the earnings process is complete, which is upon shipment of products. Shipping and Handling Charges The Company reports shipping and handling fees charged to customers as part of freight, an operating expense. The associated expense is reported in the same account. Sales Tax States impose sales tax on certain sales to nonexempt customers. The Company collects that sales tax from customers and remits the entire amount to the state. The Company’s accounting policy is to exclude the tax collected and remitted to the state from revenues and cost of goods sold. Advertising Advertising costs are expensed as incurred. The advertising costs incurred for the years ended December 31, 2018, 2017, $8,579, $15,639, Comprehensive Income The Company has no Income Taxes The Company accounts for income taxes under the asset and liability method. As such, deferred income tax assets and liabilities are recognized for the future tax consequences of the differences between the financial statement carrying amount of existing assets and liabilities and their respective tax basis. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. Uncertain Tax Positions The Company accounts for uncertainty in income taxes, by designating a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also considers various related matters such as de-recognition, interest, penalties, and disclosures required. The Company’s management has determined that no December 31, 2018, December 31, 2017, no 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. Recent Relevant Accounting Guidance Not In February 2016, 2016 02, Leases (Topic 842 not 12 December 15, 2018 one 2016 02 Variable Interest Entities The Company holds a financial interest in an entity owned by its majority stockholders. The interest consists of the related party leasing arrangement more fully described in Note 6 not not |
Note 2 - Inventory
Note 2 - Inventory | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 2. Inventory Inventory consists of the following at December 31: 201 8 201 7 Coffee: Unroasted $ 161,355 $ 166,865 Roasted 34,420 43,689 Tea 1,723 2,249 Packaging, supplies and other merchandise held for sale 40,210 49,305 Total inventory $ 237,708 $ 262,108 |
Note 3 - Property and Equipment
Note 3 - Property and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 3. Property and Equipment Property and equipment consist of the following as of December 31, 2018 2017 Automobiles $ 178,497 $ 178,497 Equipment and fixtures 490,430 517,526 Office furniture and equipment 148,693 145,089 Leased equipment 225,864 214,796 Leasehold improvements 366,698 358,498 Package design 41,000 41,000 Website 19,000 19,000 1,470,182 1,474,406 Accumulated depreciation (1,161,533 ) (1,109,787 ) Total property and equipment $ 308,649 $ 364,619 Depreciation expense for the years ended December 31, 2018, December 31, 2017 $51,746 $117,346, |
Note 5 - Long Term Debt
Note 5 - Long Term Debt | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 5. Long Term Debt Long-term debt consists of the following at December 31: 201 8 201 7 Long Term Debt Savings Bank of Mendocino, payable in monthly installments of $518, interest at 4.24%, collateralized by a security interest of substantially all of the Company’s assets, final payment due on December 28, 2021. $ 17,473 $ 22,816 Hansel Ford, payable in monthly installments of $385, including interest at .90%, collateralized by equipment, final payment due on March 14, 2019. 1,154 5,743 Hansel Ford, payable in monthly installments of $385, including interest at .90%, collateralized by equipment, final payment due on March 14, 2019. 1,154 5,743 Bank of the West, payable in monthly installments of $787.03, including interest at 9.234%, collateralized by equipment, final payment due January 1, 2021. 17,187 33,204 Bank of the West, payable in monthly installments of $1,465, including interest at 9.227%, collateralized by equipment, final payment due January 1, 2020. 18,058 24,665 Pawnee Leasing, payable in monthly installments of $528, including interest at 15.178%, collateralized by equipment, final payment due May 51, 2022. 16,810 - Hansel Ford, payable in monthly installments of $806.38, including interest at 1.939%, collateralized by equipment, final payment due on April 10, 2020. 12,727 22,058 84,564 114,229 Less current portion of long term debt (48,262 ) (46,476 ) Total long term debt $ 36,302 $ 67,753 Interest expense for the years ended December 31, 2018 2017, $7,284, $7,061 As of December 31, 2018, four Years Ended December 31, 2019 $ 44,166 2020 25,214 2021 12,544 2022 2,640 Total of long term debt $ 84,564 |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 6. Long Term Leases The Company leases its corporate headquarters, warehouse and waterfront facilities from Paul and Joan Katzeff (the Company’s majority shareholders). The lease is classified as an operating lease and provides for monthly rental payments of $8,600. ten May 31, 2025. As of December 31, 2018, five Years Ended December 31, 2019 $ 103,200 2020 103,200 2021 103,200 2022 103,200 2023 103,200 2024 and thereafter 146,200 Total of long term lease $ 662,200 The total rent payments made to its majority shareholders in connection with these related party transactions for the years ended December 31, 2018 2017, $103,200, $103,200, Contracts The Company negotiates green bean purchase contracts from three December 31, 2017, $56,427. December 31, 2018 $53,327 |
Note 7 - Income Taxes
Note 7 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 7. Income Taxes The provision for income taxes consist of the following for the year ended December 31: 201 8 201 7 Current state provision (credit) $ 800 $ 800 Deferred provision (credit) Federal - - State - - Total deferred provision (credit) - - Total provision (credit) $ 800 $ 800 Deferred tax assets and liabilities consist of the following as of December 31: 201 8 201 7 Net Operating Losses $ 107,209 $ 103,725 Depreciation (2,878 ) (11,055 ) Other 16,937 19,076 Subtotal 121,268 111,746 Valuation Allowance (121,268 ) (111,746 ) Net deferred tax asset (liability) $ - $ - A reconciliation of the Company’s actual effective tax rate to the federal statutory tax rate of 21% December 31, 2018, 2017: 201 8 201 7 Amount % Amount % Pre tax income (loss) $ (34,437 ) $ (78,037 ) Federal tax (credit) net (6,787 ) -19.15 % (12,785 ) -16 % State tax (credit) (3,118 ) -8.79 % (6,898 ) -8.9 % Valuation allowance 10,705 30.20 % 20,483 25.2 % $ 800 0.4 % $ 800 .4 % Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The major temporary differences that give rise to the deferred tax assets and liabilities include depreciation, allowances for bad debt, expense accruals, state income tax deductions and net operating losses. The federal income tax returns of the for Company for 2017, 2016 2015 three 2017, 2016, 2015 2014 four As of December 31, 2018, $420,409 $194,448, 2034. |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 8. Subsequent Events The Company has evaluated all subsequent events through March 26, 2019, not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of year or less at the time of purchase to be cash equivalents, and maintain its cash in bank deposit accounts at high credit quality financial institutions. Effective January 1, 2013, $250,000 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk For the years ending December 31, 2018, December 31, 2017, one 8% 10%, As of December 31, 2018, no 10% December 31, 2017, one 10% For the years ending December 31, 2018 2017, one 54%, 49%, 6 As of December 31, 2018, 25%, 19% 9% December 31, 2017, 25% 11% |
Receivables, Policy [Policy Text Block] | Accounts Receivable The Company extends credit to customers in the normal course of business and performs ongoing credit evaluations of customers, maintaining allowances for potential credit losses which, when realized, have been within management’s expectations. Invoices are aged based on terms with the customer. The Company utilizes a percentage method to establish the allowance for doubtful accounts. The estimated allowance ranges from 1% 10% December 31, 2018 2017 $7,315, $6,239, The bad debt-write-offs for the years ended December 31, 2018, 2017 $1,162, $503 |
Inventory, Policy [Policy Text Block] | Inventory Inventory is stated at the lower of cost, determined using the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost and depreciated over their estimated useful lives using the straight-line method for financial reporting purposes and accelerated methods for income tax reporting purposes; maintenance and repair costs are charged against operations as incurred. The estimated useful lives of the assets are as follows: Estimated Useful (in years) Automobiles 5 Equipment and fixtures 5 - 7 Office furniture and equipment 5 - 7 Leased equipment 5 - 12 Leasehold improvements 7 - 39 |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Sales are recognized when revenue is realized or becomes realizable and has been earned. In general, revenue is recognized when the earnings process is complete, which is upon shipment of products. |
Shipping and Handling Cost, Policy [Policy Text Block] | Shipping and Handling Charges The Company reports shipping and handling fees charged to customers as part of freight, an operating expense. The associated expense is reported in the same account. |
Sales Tax [Policy Text Block] | Sales Tax States impose sales tax on certain sales to nonexempt customers. The Company collects that sales tax from customers and remits the entire amount to the state. The Company’s accounting policy is to exclude the tax collected and remitted to the state from revenues and cost of goods sold. |
Advertising Costs, Policy [Policy Text Block] | Advertising Advertising costs are expensed as incurred. The advertising costs incurred for the years ended December 31, 2018, 2017, $8,579, $15,639, |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income The Company has no |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes under the asset and liability method. As such, deferred income tax assets and liabilities are recognized for the future tax consequences of the differences between the financial statement carrying amount of existing assets and liabilities and their respective tax basis. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. |
Income Tax Uncertainties, Policy [Policy Text Block] | Uncertain Tax Positions The Company accounts for uncertainty in income taxes, by designating a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also considers various related matters such as de-recognition, interest, penalties, and disclosures required. The Company’s management has determined that no December 31, 2018, December 31, 2017, no |
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. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Relevant Accounting Guidance Not In February 2016, 2016 02, Leases (Topic 842 not 12 December 15, 2018 one 2016 02 |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | Variable Interest Entities The Company holds a financial interest in an entity owned by its majority stockholders. The interest consists of the related party leasing arrangement more fully described in Note 6 not not |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property Plant And Equipment, Estimate Useful Life [Table Text Block] | Estimated Useful (in years) Automobiles 5 Equipment and fixtures 5 - 7 Office furniture and equipment 5 - 7 Leased equipment 5 - 12 Leasehold improvements 7 - 39 |
Note 2 - Inventory (Tables)
Note 2 - Inventory (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | 201 8 201 7 Coffee: Unroasted $ 161,355 $ 166,865 Roasted 34,420 43,689 Tea 1,723 2,249 Packaging, supplies and other merchandise held for sale 40,210 49,305 Total inventory $ 237,708 $ 262,108 |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2018 2017 Automobiles $ 178,497 $ 178,497 Equipment and fixtures 490,430 517,526 Office furniture and equipment 148,693 145,089 Leased equipment 225,864 214,796 Leasehold improvements 366,698 358,498 Package design 41,000 41,000 Website 19,000 19,000 1,470,182 1,474,406 Accumulated depreciation (1,161,533 ) (1,109,787 ) Total property and equipment $ 308,649 $ 364,619 |
Note 5 - Long Term Debt (Tables
Note 5 - Long Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | 201 8 201 7 Long Term Debt Savings Bank of Mendocino, payable in monthly installments of $518, interest at 4.24%, collateralized by a security interest of substantially all of the Company’s assets, final payment due on December 28, 2021. $ 17,473 $ 22,816 Hansel Ford, payable in monthly installments of $385, including interest at .90%, collateralized by equipment, final payment due on March 14, 2019. 1,154 5,743 Hansel Ford, payable in monthly installments of $385, including interest at .90%, collateralized by equipment, final payment due on March 14, 2019. 1,154 5,743 Bank of the West, payable in monthly installments of $787.03, including interest at 9.234%, collateralized by equipment, final payment due January 1, 2021. 17,187 33,204 Bank of the West, payable in monthly installments of $1,465, including interest at 9.227%, collateralized by equipment, final payment due January 1, 2020. 18,058 24,665 Pawnee Leasing, payable in monthly installments of $528, including interest at 15.178%, collateralized by equipment, final payment due May 51, 2022. 16,810 - Hansel Ford, payable in monthly installments of $806.38, including interest at 1.939%, collateralized by equipment, final payment due on April 10, 2020. 12,727 22,058 84,564 114,229 Less current portion of long term debt (48,262 ) (46,476 ) Total long term debt $ 36,302 $ 67,753 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Years Ended December 31, 2019 $ 44,166 2020 25,214 2021 12,544 2022 2,640 Total of long term debt $ 84,564 |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Corporate Headquarters, Warehouse and Waterfront Facilities [Member] | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years Ended December 31, 2019 $ 103,200 2020 103,200 2021 103,200 2022 103,200 2023 103,200 2024 and thereafter 146,200 Total of long term lease $ 662,200 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 201 8 201 7 Current state provision (credit) $ 800 $ 800 Deferred provision (credit) Federal - - State - - Total deferred provision (credit) - - Total provision (credit) $ 800 $ 800 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 201 8 201 7 Net Operating Losses $ 107,209 $ 103,725 Depreciation (2,878 ) (11,055 ) Other 16,937 19,076 Subtotal 121,268 111,746 Valuation Allowance (121,268 ) (111,746 ) Net deferred tax asset (liability) $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 201 8 201 7 Amount % Amount % Pre tax income (loss) $ (34,437 ) $ (78,037 ) Federal tax (credit) net (6,787 ) -19.15 % (12,785 ) -16 % State tax (credit) (3,118 ) -8.79 % (6,898 ) -8.9 % Valuation allowance 10,705 30.20 % 20,483 25.2 % $ 800 0.4 % $ 800 .4 % |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Cash, FDIC Insured Amount | $ 250,000 | |
Allowance for Doubtful Accounts Receivable, Ending Balance | 7,315 | $ 6,239 |
Allowance for Doubtful Accounts Receivable, Write-offs | 1,162 | 503 |
Advertising Expense | 8,579 | 15,639 |
Unrecognized Tax Benefits, Ending Balance | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 |
Minimum [Member] | ||
Allowance for Doubtful Accounts Receivable, Percent | 1.00% | |
Maximum [Member] | ||
Allowance for Doubtful Accounts Receivable, Percent | 10.00% | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||
Number of Major Customers | 1 | 1 |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | One Customer [Member] | ||
Concentration Risk, Percentage | 8.00% | 10.00% |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||
Number of Major Customers | 0 | 1 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member] | ||
Concentration Risk, Percentage | 10.00% | |
Supplier Concentration Risk [Member] | Cost of Goods, Total [Member] | ||
Concentration Risk, Percentage | 54.00% | 49.00% |
Number of Vendors | 1 | 1 |
Vendor A [Member] | Accounts Payable [Member] | ||
Concentration Risk, Percentage | 25.00% | 25.00% |
Vendor B [Member] | Accounts Payable [Member] | ||
Concentration Risk, Percentage | 19.00% | 11.00% |
Vendor C [Member] | Accounts Payable [Member] | ||
Concentration Risk, Percentage | 9.00% |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Automobiles [Member] | |
Estimated useful lives (Year) | 5 years |
Equipment [Member] | Minimum [Member] | |
Estimated useful lives (Year) | 5 years |
Equipment [Member] | Maximum [Member] | |
Estimated useful lives (Year) | 7 years |
Office Equipment [Member] | Minimum [Member] | |
Estimated useful lives (Year) | 5 years |
Office Equipment [Member] | Maximum [Member] | |
Estimated useful lives (Year) | 7 years |
Equipment Leased to Other Party [Member] | Minimum [Member] | |
Estimated useful lives (Year) | 5 years |
Equipment Leased to Other Party [Member] | Maximum [Member] | |
Estimated useful lives (Year) | 12 years |
Leasehold Improvements [Member] | Minimum [Member] | |
Estimated useful lives (Year) | 7 years |
Leasehold Improvements [Member] | Maximum [Member] | |
Estimated useful lives (Year) | 39 years |
Note 2 - Inventory - Summary of
Note 2 - Inventory - Summary of Inventories (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Inventory | $ 237,708 | $ 262,108 |
Coffee, Unroasted [Member] | ||
Inventory | 161,355 | 166,865 |
Coffee, Roasted [Member] | ||
Inventory | 34,420 | 43,689 |
Tea [Member] | ||
Inventory | 1,723 | 2,249 |
Packaging, Supplies and Other Merchandise Held for Sale [Member] | ||
Inventory | $ 40,210 | $ 49,305 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Total | $ 51,746 | $ 117,346 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Property and equipment | $ 1,470,182 | $ 1,474,406 |
Accumulated depreciation | (1,161,533) | (1,109,787) |
Property and equipment, net | 308,649 | 364,619 |
Automobiles [Member] | ||
Property and equipment | 178,497 | 178,497 |
Equipment and Fixtures [Member] | ||
Property and equipment | 490,430 | 517,526 |
Office Equipment [Member] | ||
Property and equipment | 148,693 | 145,089 |
Equipment Leased to Other Party [Member] | ||
Property and equipment | 225,864 | 214,796 |
Leasehold Improvements [Member] | ||
Property and equipment | 366,698 | 358,498 |
Package Design [Member] | ||
Property and equipment | 41,000 | 41,000 |
Website [Member] | ||
Property and equipment | $ 19,000 | $ 19,000 |
Note 5 - Long Term Debt (Detail
Note 5 - Long Term Debt (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Interest Expense, Total | $ 7,284 | $ 7,061 |
Note 5 - Long Term Debt - Summa
Note 5 - Long Term Debt - Summary of Long Term Debt (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Long-term debt | $ 84,564 | $ 114,229 |
Less current portion of long term debt | (48,262) | (46,476) |
Total long-term debt | 36,302 | 67,753 |
Savings Bank of Mendocino due on December 28, 2021 [Member] | ||
Long-term debt | 17,473 | 22,816 |
First Hansel Ford due on March 14, 2019 [Member] | ||
Long-term debt | 1,154 | 5,743 |
Second Hansel Ford due on March 14, 2019 [Member] | ||
Long-term debt | 1,154 | 5,743 |
Bank of the West due on January 1, 2021 [Member] | ||
Long-term debt | 17,187 | 33,204 |
Bank of the West due on January 1, 2020 [Member] | ||
Long-term debt | 18,058 | 24,665 |
Pawnee Leasing payable due on May 15, 2022 [Member] | ||
Long-term debt | 16,810 | |
Hansel Ford due on April 10, 2020 [Member] | ||
Long-term debt | $ 12,727 | $ 22,058 |
Note 5 - Long Term Debt - Sum_2
Note 5 - Long Term Debt - Summary of Long Term Debt (Details) (Parentheticals) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Savings Bank of Mendocino due on December 28, 2021 [Member] | ||
Monthly installment | $ 518 | $ 518 |
Interest rate | 4.24% | 4.24% |
Maturity date | Dec. 28, 2021 | Dec. 28, 2021 |
First Hansel Ford due on March 14, 2019 [Member] | ||
Monthly installment | $ 385 | $ 385 |
Interest rate | 0.90% | 0.90% |
Maturity date | Mar. 14, 2019 | Mar. 14, 2019 |
Second Hansel Ford due on March 14, 2019 [Member] | ||
Monthly installment | $ 385 | $ 385 |
Interest rate | 0.90% | 0.90% |
Maturity date | Mar. 14, 2019 | Mar. 14, 2019 |
Bank of the West due on January 1, 2021 [Member] | ||
Monthly installment | $ 787.03 | $ 787.03 |
Interest rate | 9.234% | 9.234% |
Maturity date | Jan. 1, 2021 | Jan. 1, 2021 |
Bank of the West due on January 1, 2020 [Member] | ||
Monthly installment | $ 1,465 | $ 1,465 |
Interest rate | 9.227% | 9.227% |
Maturity date | Jan. 1, 2020 | Jan. 1, 2020 |
Pawnee Leasing payable due on May 15, 2022 [Member] | ||
Monthly installment | $ 528 | |
Interest rate | 15.178% | |
Maturity date | May 15, 2022 | |
Hansel Ford due on April 10, 2020 [Member] | ||
Monthly installment | $ 806.38 | $ 806.38 |
Interest rate | 1.939% | 1.939% |
Maturity date | Apr. 10, 2020 | Apr. 10, 2020 |
Note 5 - Long Term Debt - Matur
Note 5 - Long Term Debt - Maturities of Notes Payable and Capital Lease Obligations (Details) | Dec. 31, 2018USD ($) |
2019 | $ 44,166 |
2020 | 25,214 |
2021 | 12,544 |
2022 | 2,640 |
Total of long term debt | $ 84,564 |
Note 6 - Related Party Transa_3
Note 6 - Related Party Transactions (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Leases, Monthly Rental Payment | $ 8,600 | |
Lessee, Operating Lease, Term of Contract | 10 years | |
ETICO [Member] | ||
Due to Related Parties, Current, Total | $ 53,327 | $ 56,427 |
Lease from Majority Shareholders [Member] | ||
Payments for Rent | $ 103,200 | $ 103,200 |
Note 6 - Related Party Transa_4
Note 6 - Related Party Transactions - Minimum Future Rental Payments Under Non-cancelable Leases (Details) - Corporate Headquarters, Warehouse and Waterfront Facilities [Member] | Dec. 31, 2018USD ($) |
2019 | $ 103,200 |
2020 | 103,200 |
2021 | 103,200 |
2022 | 103,200 |
2023 | 103,200 |
2024 and thereafter | 146,200 |
Total of long term lease | $ 662,200 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Domestic Tax Authority [Member] | ||
Open Tax Year | 2017 2016 2015 | |
Operating Loss Carryforwards, Total | $ 420,409 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | $ 194,448 | |
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | ||
Open Tax Year | 2017 2016 2015 2014 |
Note 7 - Income Taxes - Income
Note 7 - Income Taxes - Income Tax Provision (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Current state provision (credit) | $ 800 | $ 800 |
Deferred provision (credit) | ||
Federal | ||
State | ||
Total deferred provision (credit) | ||
Total provision (credit) | $ 800 | $ 800 |
Note 7 - Income Taxes - Deferre
Note 7 - Income Taxes - Deferred Assets and Liabilities (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Net Operating Losses | $ 107,209 | $ 103,725 |
Depreciation | (2,878) | (11,055) |
Other | 16,937 | 19,076 |
Subtotal | 121,268 | 111,746 |
Valuation Allowance | (121,268) | (111,746) |
Net deferred tax asset (liability) |
Note 7 - Income Taxes - Effecti
Note 7 - Income Taxes - Effective Income Tax rate Reconciliation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Pre tax income (loss) | $ (34,437) | $ (78,037) |
Federal tax (credit) net | $ (6,787) | $ (12,785) |
Federal tax (credit) net, rate | (19.15%) | (16.00%) |
State tax (credit) | $ (3,118) | $ (6,898) |
State tax (credit), rate | (8.79%) | (8.90%) |
Valuation allowance | $ 10,705 | $ 20,483 |
Valuation allowance, rate | 30.20% | 25.20% |
Total provision (credit) | $ 800 | $ 800 |
Effective tax rate to the federal statutory tax, rate | 0.40% | 0.40% |