Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Jun. 30, 2019 | |
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 Interactive Data Current | Yes | |
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, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | FY | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, no par value |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash | $ 410,974 | $ 153,646 |
Accounts receivable, net of allowance | 218,454 | 218,789 |
Inventory | 236,258 | 237,708 |
Prepaid expenses | 49,534 | 90,431 |
Total current assets | 915,220 | 700,574 |
Deposits and other assets | 1,056 | 4,168 |
Total assets | 1,719,231 | 1,013,391 |
Current liabilities | ||
Accounts payable | 165,743 | 217,828 |
Accrued liabilities | 44,996 | 62,817 |
Current portion of operating lease liabilities | 96,566 | |
Current portion of long-term debt and equipment financing | 25,949 | 48,262 |
Total current liabilities | 333,254 | 328,907 |
Noncurrent long-term debt and equipment financing | 22,096 | 36,302 |
Noncurrent operating lease liabilities | 446,899 | |
Total liabilities | 802,249 | 365,209 |
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 (accumulated deficit) | 30,566 | (238,234) |
Total stockholders’ equity | 916,982 | 648,182 |
Total liabilities and stockholders’ equity | 1,719,231 | 1,013,391 |
All Property and Equipment, Excluding Right of Use [Member] | ||
Current assets | ||
Property and equipment, net | 259,490 | 308,649 |
Right of Use [Member] | ||
Current assets | ||
Right of use leased assets | $ 543,465 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
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 Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue | $ 4,165,917 | $ 3,226,269 |
Cost of sales | 2,289,736 | 1,859,691 |
Gross profit | 1,876,181 | 1,366,578 |
Operating expenses | ||
Selling and marketing | 800,831 | 691,576 |
General and administrative | 769,079 | 714,516 |
Total operating expenses | 1,569,910 | 1,406,092 |
Operating profit (loss) | 306,271 | (39,514) |
Other income (expense) | ||
Interest expense | (5,595) | (7,284) |
Other income (expense), net | (23,592) | 11,362 |
Other income (expense), net | (29,224) | 4,078 |
Income (loss) before income taxes | 277,047 | (35,436) |
Income tax expense | (8,247) | (800) |
Net income (loss) | $ 268,800 | $ (36,236) |
Earnings (loss) per share, basic and diluted (in dollars per share) | $ 0.217 | $ (0.029) |
Weighted average number of shares (in shares) | 1,236,744 | 1,236,744 |
Statements of Changes in Retain
Statements of Changes in Retained Earnings (Accumulated Deficit) | USD ($) |
Accumulated deficit, beginning of the year at Dec. 31, 2017 | $ (201,998) |
Net income (loss) | (36,236) |
Retained earnings (accumulated deficit), end of year at Dec. 31, 2018 | (238,234) |
Net income (loss) | 268,800 |
Retained earnings (accumulated deficit), end of year at Dec. 31, 2019 | $ 30,566 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Operating activities | ||
Net income (loss) | $ 268,800 | $ (36,236) |
Adjustments to reconcile net income (loss) to cash flows from operating activities: | ||
Depreciation and amortization | 80,873 | 51,746 |
Loss on sale of property and equipment | 26,570 | |
(Increase) decrease in: | ||
Accounts receivable | 335 | 11,088 |
Inventory | 1,450 | 24,400 |
Prepaid expenses | 40,897 | (32,651) |
Deposits and other assets | 3,112 | (1,056) |
Increase (decrease) in: | ||
Accounts payable | (52,086) | 3,886 |
Accrued liabilities | (17,821) | (2,482) |
Net cash provided by operating activities | 352,130 | 18,695 |
Investing activities | ||
Purchases of property and equipment | (46,015) | |
Proceeds from sale of property and equipment | 4,224 | |
Net cash used by investing activities | (46,015) | 4,224 |
Financing activities | ||
Principal payments on long-term debt and equipment financing | (48,787) | (29,665) |
Increase (decrease) in cash | 257,328 | (6,746) |
Cash at beginning of year | 153,646 | 160,392 |
Cash at end of year | 410,974 | 153,646 |
Supplemental disclosure of cash flow information: | ||
Interest | 5,632 | 7,284 |
Income taxes | 800 | 800 |
Supplemental disclosure of non-cash investing and financing activities: | ||
Equipment purchase with financing | $ 12,268 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Summary of Significant Accounting Policies Nature of Operations Thanksgiving Coffee Company, Inc. (the “Company”, “we”, or “tcci”), 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. All interest bearing and non-interest bearing transaction accounts are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 Concentration of Credit Risk For the years ended December 31, 2019 December 31, 2018 one 29%, 8%, As of December 31, 2019, one 21% December 31, 2018, no 10% For the years ended December 31, 2019 December 31, 2018 one 39%, 54%, 8 As of December 31, 2019, 23%, 12% 8% December 31, 2018, 25% 19% 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, 2019 2018 $4,662 $7,315, The bad debt-write-offs for the years ended December 31, 2019, 2018 $9,233 $1,162, Inventory Inventory is reported at the lower of cost or net realizable value. Cost is determined using the first first The Company periodically reviews its inventory for potential slow-moving or obsolete items and writes down specific items to net realizable value, as appropriate. The Company writes down inventory based on forecasted demand and obsolescence. These factors are impacted by market and economic conditions, and changes in strategic direction, and require estimates that may may may not Property and Equipment Property and equipment are stated at cost and depreciated or amortized over their estimated useful lives using the straight-line method. 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 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 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. However, it was determined that none Adoption of the new standard resulted in the recording of additional net lease assets and lease liabilities of $625,826 January 1, 2019. Shipping and Handling Charges The Company reports shipping and handling fees charged to customers in Sales and marketing expense. The freight costs incurred for the years ended December 31, 2019, 2018, $195,505 $161,571, 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, 2019, 2018, $14,156 $8,578, 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 it has no December 31, 2019, December 31, 2018, no As a result of net operating loss and credit carryforwards, the Company is subject to audit for tax years 2016 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 Income Taxes In December 2019, 2019 12, 740 December 15, 2020. Credit Losses In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments 2016 13 2016 13 December 15, 2022, December 15, 2022, |
Note 2 - Accounts Receivable
Note 2 - Accounts Receivable | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 2. Accounts Receivable Accounts receivable of the following as of December 31, 2019 2018 Accounts receivable $ 223,116 $ 226,104 Less: allowance for doubtful accounts (4,662 ) (7,315 ) Net accounts receivable $ 218,454 $ 218,789 The Company utilizes a percentage method to establish the allowance for doubtful accounts. The estimated allowance ranges from 1% 10% December 31, 2019 2018 $9,233 1,162, |
Note 3 - Inventories
Note 3 - Inventories | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 3 . Inventor ies Inventory consist of the following as of December 31, 2019 2 018 Coffee: Unroasted $ 142,095 $ 161,855 Roasted 35,141 34,420 Tea 1,616 1,723 Packaging, supplies and other merchandise held for sale 57,406 40,210 Total inventory $ 236,258 $ 237,708 |
Note 4 - Properties and Equipme
Note 4 - Properties and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4 . Propert ies and Equipment Property and equipment consist of the following as of December 31, 2019 2018 Equipment $ 488,189 $ 490,430 Furniture and fixtures 151,093 148,693 Leasehold improvements 368,954 366,698 Transportation equipment 50,217 178,497 Package design 41,000 41,000 Capitalized website development costs 19,000 19,000 Property held under finances 362,280 225,864 Total property and equipment 1,480,733 1,470,182 Less: accumulated depreciation (1,221,243 ) (1,161,533 ) Property and equipment, net $ 259,490 $ 308,649 Property and Equipment and Right of Use Assets Depreciation and amortization expense for the years ended December 31, 2019 2018 $80,873 $51,746, |
Note 5 - Operating Leases, and
Note 5 - Operating Leases, and Long-term Debt and Equipment Financing | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Finance Lease and Operating Lease Disclosure [Text Block] | 5 . Operating Leases , and Long-term Debt and Equipment Financing 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 December 31, 2019, three six one five 12 None not None not Lease Position as of December 3 1 , 2019 The table below presents the lease-related assets and liabilities recorded on the balance sheet. Classification on the Balance Sheet December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 543,465 Equipment financing assets Property and equipment, net 90,266 Total lease assets $ 633,731 Liabilities Current Operating Current portion of operating leases $ 96,566 Equipment financing Current portion of long-term debt and equipment financing 25,949 Noncurrent Operating Noncurrent operating leases 446,899 Equipment financing Noncurrent long-term debt and equipment financing 22,096 Total lease liabilities $ 591,510 Weighted-average remaining lease term Operating leases (in years) 4.25 Equipment financing (in years) 1.67 Weighted-average discount rate Operating leases 2.45 % Equipment financing 7.62 % Lease Costs The table below presents certain information related to the lease costs for finance and operating leases for the year ended December 31, 2019. Year Ended December 31, 2019 Equipment financing : $ 50,438 Amortization of assets $ 44,843 Interest on equipment financing and long-term debt 5,595 Operating lease cost: 108,737 Short-term lease cost - Variable lease cost - Total lease cost $ 159,175 Other Information The table below presents supplemental cash flow information related to leases for the year ended December 31, 2019. Cash paid for amounts included in the measurement of lease liabilities: Year Ended December 31, 2019 Operating cash flows for operating leases $ 108,737 Operating cash flows for equipment financing and long-term debt $ 5,595 Financing cash flows for $ 48,787 Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five Operating Leases Period Ending December 31, 2020 $ 109,969 2021 109,969 2022 109,221 2023 105,482 2024 104,342 Thereafter 43,000 Total minimum lease payments 581,983 Less: amount of lease payments representing interest (38,518 ) Present value of future minimum lease payments 543,465 Less: current obligations under leases (96,566 ) Long-term lease obligations $ 446,899 Long-term debt and equipment financing consists of the following at December 31: 2019 2018 Hansel Ford, payable in monthly installments of $385, including interest at 0.90%, collateralized by equipment, final payment due on March 14, 2019. $ - $ 1,154 Hansel Ford, payable in monthly installments of $385, including interest at 0.90%, collateralized by equipment, final payment due on March 14, 2019. - 1,154 Bank of the West, payable in monthly installments of $1,465, including interest at 9.22%, collateralized by equipment, final payment due January 1, 2020. 1,454 18,058 Hansel Ford, payable in monthly installments of $806, including interest at 1.94%, collateralized by equipment, final payment due on May 3, 2020. 3,213 12,727 Bank of the West, payable in monthly installments of $787, including interest at 9.23%, collateralized by equipment, final payment due January 1, 2021. 8,974 17,188 Savings Bank of Mendocino, payable in monthly installments of $518, interest at 4.24%, collateralized by equipment, final payment due on December 28, 2021. 11,897 17,473 Pawnee Leasing, payable in monthly installments of $528, including interest at 15.18%, collateralized by equipment, final payment due May 15, 2022. 11,131 16,810 Ally Financial, payable in monthly installments of $237, including interest at 5.89%, collateralized by equipment, final payment due July 1, 2024. 11,377 - 48,046 84,564 Less current portion of long-term debt (25,949 ) (48,262 ) Total long-term debt $ 22,096 $ 36,302 Interest expense for the years ended December 31, 2019 2018, $5,595 $7,284 As of December 31, 2019, four Years Ended December 31, Principal due in 2020 $ 26,417 Principal due in 2021 12,304 Principal due in 2022 5,042 Principal due in 2023 2,657 Principal due in 2024 1,626 Total $ 48,046 |
Note 6 - Disaggregated Revenue
Note 6 - Disaggregated Revenue by Routes, Direct and Mail Order | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 6 . Disaggregated Revenue by routes, direct and mail order Disaggregated information of revenue recognized as follows for the years ended, Sales by department 2019 2018 Routes-wholesale $ 1,247,336 $ 1,302,860 Direct-wholesale 2,465,571 1,468,352 Mail order-retail 453,010 455,057 Total $ 4,165,917 $ 3,226,269 |
Note 7 - Income Taxes
Note 7 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
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 9 201 8 Current state provision $ 8,247 $ 800 Deferred provision Federal - - State - - Total deferred provision - - Total provision $ 8,247 $ 800 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 (“NOLs”). Deferred tax assets and liabilities consist of the following as of December 31: 201 9 201 8 Net operating losses $ 19,680 $ 107,209 Depreciation (18,696 ) (2,878 ) Other 24,719 16,937 Subtotal 25,703 121,268 Valuation allowance (25,703 ) (121,268 ) Net deferred tax asset $ - $ - A reconciliation of the Company's actual effective tax rate to the federal statutory tax rate of 21% December 31, 2019, 2018: 201 9 201 8 % % Federal tax (benefit), net 21.0 % -21.0 % State tax (benefit) 7.0 % -8.8 % Valuation allowance -25.0 % 27.5 % 3.0 % -2.3 % As of December 31, 2019, $94,000. 2034. A valuation allowance is provided for deferred tax assets where the recoverability of the assets is uncertain. The determination to provide a valuation allowance is dependent upon the assessment of whether it is more likely than not $95,565 $9,522 December 31, 2019 2018, |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 8. 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. In September 2020, $17,200 July August 2020. not As of December 31, 2019, five Years Ended December 31, 2020 $ 103,200 2021 103,200 2022 103,200 2023 103,200 2024 103,200 Thereafter 43,000 Total of long-term lease $ 559,000 Contracts The Company negotiates green bean purchase contracts from three December 31, 2019, $37,333. December 31, 2018 $53,327 |
Note 9 - Business Segment
Note 9 - Business Segment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 9 . Business Segment The Company operates in one |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 1 0 . Subsequent Events During the first 2020, 19 March 27, 2020, two 19. eight may In April 2020, $189,228 may not 40% 24 10 1.00% 2 not In April 2020, $25,000 April 16, 2021 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
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. All interest bearing and non-interest bearing transaction accounts are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk For the years ended December 31, 2019 December 31, 2018 one 29%, 8%, As of December 31, 2019, one 21% December 31, 2018, no 10% For the years ended December 31, 2019 December 31, 2018 one 39%, 54%, 8 As of December 31, 2019, 23%, 12% 8% December 31, 2018, 25% 19% |
Receivable [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, 2019 2018 $4,662 $7,315, The bad debt-write-offs for the years ended December 31, 2019, 2018 $9,233 $1,162, |
Inventory, Policy [Policy Text Block] | Inventory Inventory is reported at the lower of cost or net realizable value. Cost is determined using the first first The Company periodically reviews its inventory for potential slow-moving or obsolete items and writes down specific items to net realizable value, as appropriate. The Company writes down inventory based on forecasted demand and obsolescence. These factors are impacted by market and economic conditions, and changes in strategic direction, and require estimates that may may may not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost and depreciated or amortized over their estimated useful lives using the straight-line method. 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 [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 |
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. However, it was determined that none Adoption of the new standard resulted in the recording of additional net lease assets and lease liabilities of $625,826 January 1, 2019. |
Shipping and Handling Charges, Policy [Policy Text Block] | Shipping and Handling Charges The Company reports shipping and handling fees charged to customers in Sales and marketing expense. The freight costs incurred for the years ended December 31, 2019, 2018, $195,505 $161,571, |
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 Cost [Policy Text Block] | Advertising Advertising costs are expensed as incurred. The advertising costs incurred for the years ended December 31, 2019, 2018, $14,156 $8,578, |
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 it has no December 31, 2019, December 31, 2018, no As a result of net operating loss and credit carryforwards, the Company is subject to audit for tax years 2016 |
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 Income Taxes In December 2019, 2019 12, 740 December 15, 2020. Credit Losses In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments 2016 13 2016 13 December 15, 2022, December 15, 2022, |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 - Accounts Receivable (T
Note 2 - Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2019 2018 Accounts receivable $ 223,116 $ 226,104 Less: allowance for doubtful accounts (4,662 ) (7,315 ) Net accounts receivable $ 218,454 $ 218,789 |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | 2019 2 018 Coffee: Unroasted $ 142,095 $ 161,855 Roasted 35,141 34,420 Tea 1,616 1,723 Packaging, supplies and other merchandise held for sale 57,406 40,210 Total inventory $ 236,258 $ 237,708 |
Note 4 - Properties and Equip_2
Note 4 - Properties and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2019 2018 Equipment $ 488,189 $ 490,430 Furniture and fixtures 151,093 148,693 Leasehold improvements 368,954 366,698 Transportation equipment 50,217 178,497 Package design 41,000 41,000 Capitalized website development costs 19,000 19,000 Property held under finances 362,280 225,864 Total property and equipment 1,480,733 1,470,182 Less: accumulated depreciation (1,221,243 ) (1,161,533 ) Property and equipment, net $ 259,490 $ 308,649 |
Note 5 - Operating Leases, an_2
Note 5 - Operating Leases, and Long-term Debt and Equipment Financing (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lease-related Assets and Liabilities [Table Text Block] | Classification on the Balance Sheet December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 543,465 Equipment financing assets Property and equipment, net 90,266 Total lease assets $ 633,731 Liabilities Current Operating Current portion of operating leases $ 96,566 Equipment financing Current portion of long-term debt and equipment financing 25,949 Noncurrent Operating Noncurrent operating leases 446,899 Equipment financing Noncurrent long-term debt and equipment financing 22,096 Total lease liabilities $ 591,510 Weighted-average remaining lease term Operating leases (in years) 4.25 Equipment financing (in years) 1.67 Weighted-average discount rate Operating leases 2.45 % Equipment financing 7.62 % |
Lease, Cost [Table Text Block] | Year Ended December 31, 2019 Equipment financing : $ 50,438 Amortization of assets $ 44,843 Interest on equipment financing and long-term debt 5,595 Operating lease cost: 108,737 Short-term lease cost - Variable lease cost - Total lease cost $ 159,175 |
Finance Lease and Operating Lease, Other Information [Table Text Block] | Cash paid for amounts included in the measurement of lease liabilities: Year Ended December 31, 2019 Operating cash flows for operating leases $ 108,737 Operating cash flows for equipment financing and long-term debt $ 5,595 Financing cash flows for $ 48,787 |
Finance and Operating Lease, Liability, Maturity [Table Text Block] | Operating Leases Period Ending December 31, 2020 $ 109,969 2021 109,969 2022 109,221 2023 105,482 2024 104,342 Thereafter 43,000 Total minimum lease payments 581,983 Less: amount of lease payments representing interest (38,518 ) Present value of future minimum lease payments 543,465 Less: current obligations under leases (96,566 ) Long-term lease obligations $ 446,899 |
Schedule of Long-term Debt Instruments [Table Text Block] | 2019 2018 Hansel Ford, payable in monthly installments of $385, including interest at 0.90%, collateralized by equipment, final payment due on March 14, 2019. $ - $ 1,154 Hansel Ford, payable in monthly installments of $385, including interest at 0.90%, collateralized by equipment, final payment due on March 14, 2019. - 1,154 Bank of the West, payable in monthly installments of $1,465, including interest at 9.22%, collateralized by equipment, final payment due January 1, 2020. 1,454 18,058 Hansel Ford, payable in monthly installments of $806, including interest at 1.94%, collateralized by equipment, final payment due on May 3, 2020. 3,213 12,727 Bank of the West, payable in monthly installments of $787, including interest at 9.23%, collateralized by equipment, final payment due January 1, 2021. 8,974 17,188 Savings Bank of Mendocino, payable in monthly installments of $518, interest at 4.24%, collateralized by equipment, final payment due on December 28, 2021. 11,897 17,473 Pawnee Leasing, payable in monthly installments of $528, including interest at 15.18%, collateralized by equipment, final payment due May 15, 2022. 11,131 16,810 Ally Financial, payable in monthly installments of $237, including interest at 5.89%, collateralized by equipment, final payment due July 1, 2024. 11,377 - 48,046 84,564 Less current portion of long-term debt (25,949 ) (48,262 ) Total long-term debt $ 22,096 $ 36,302 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Years Ended December 31, Principal due in 2020 $ 26,417 Principal due in 2021 12,304 Principal due in 2022 5,042 Principal due in 2023 2,657 Principal due in 2024 1,626 Total $ 48,046 |
Note 6 - Disaggregated Revenu_2
Note 6 - Disaggregated Revenue by Routes, Direct and Mail Order (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Sales by department 2019 2018 Routes-wholesale $ 1,247,336 $ 1,302,860 Direct-wholesale 2,465,571 1,468,352 Mail order-retail 453,010 455,057 Total $ 4,165,917 $ 3,226,269 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 201 9 201 8 Current state provision $ 8,247 $ 800 Deferred provision Federal - - State - - Total deferred provision - - Total provision $ 8,247 $ 800 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 201 9 201 8 Net operating losses $ 19,680 $ 107,209 Depreciation (18,696 ) (2,878 ) Other 24,719 16,937 Subtotal 25,703 121,268 Valuation allowance (25,703 ) (121,268 ) Net deferred tax asset $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 201 9 201 8 % % Federal tax (benefit), net 21.0 % -21.0 % State tax (benefit) 7.0 % -8.8 % Valuation allowance -25.0 % 27.5 % 3.0 % -2.3 % |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years Ended December 31, 2020 $ 103,200 2021 103,200 2022 103,200 2023 103,200 2024 103,200 Thereafter 43,000 Total of long-term lease $ 559,000 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Jan. 01, 2019USD ($) | |
Cash, FDIC Insured Amount | $ 250,000 | ||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 4,662 | $ 7,315 | $ 4,662 |
Accounts Receivable, Allowance for Credit Loss, Writeoff | 9,233 | 1,162 | |
Operating Lease, Right-of-Use Asset | 543,465 | ||
Freight Costs, Incurred During the Period | 195,505 | 161,571 | |
Advertising Expense | 14,156 | 8,578 | |
Unrecognized Tax Benefits, Ending Balance | 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | $ 0 | |
Operating Lease, Liability, Total | $ 543,465 | ||
California Franchise Tax Board [Member] | |||
Open Tax Year | 2016 2017 2018 2019 2020 | ||
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | 625,826 | ||
Operating Lease, Liability, Total | $ 625,826 | ||
Minimum [Member] | |||
Allowance for Doubtful Accounts Receivable, Percent | 1.00% | ||
Maximum [Member] | |||
Allowance for Doubtful Accounts Receivable, Percent | 10.00% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Number of Major Customers | 1 | 1 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member] | |||
Concentration Risk, Percentage | 29.00% | 8.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||
Number of Major Customers | 1 | 0 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member] | |||
Concentration Risk, Percentage | 21.00% | ||
Supplier Concentration Risk [Member] | Cost of Goods and Service Benchmark [Member] | |||
Concentration Risk, Percentage | 39.00% | 54.00% | |
Number of Vendors | 1 | 1 | |
Vendor A [Member] | Account Payable [Member] | |||
Concentration Risk, Percentage | 23.00% | ||
Vendor A [Member] | Accounts Payable [Member] | |||
Concentration Risk, Percentage | 25.00% | ||
Vendor B [Member] | Account Payable [Member] | |||
Concentration Risk, Percentage | 12.00% | ||
Vendor B [Member] | Accounts Payable [Member] | |||
Concentration Risk, Percentage | 19.00% | ||
Vendor C [Member] | Account Payable [Member] | |||
Concentration Risk, Percentage | 8.00% |
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, 2019 | |
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 - Accounts Receivable (D
Note 2 - Accounts Receivable (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Accounts Receivable, Allowance for Credit Loss, Writeoff | $ 9,233 | $ 1,162 |
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 ($) | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Accounts receivable | $ 223,116 | $ 226,104 | |
Less: allowance for doubtful accounts | (4,662) | $ (4,662) | (7,315) |
Net accounts receivable | $ 218,454 | $ 218,789 |
Note 3 - Inventories - Summary
Note 3 - Inventories - Summary of Inventories (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Inventory | $ 236,258 | $ 237,708 |
Coffee, Unroasted [Member] | ||
Inventory | 142,095 | 161,855 |
Coffee, Roasted [Member] | ||
Inventory | 35,141 | 34,420 |
Tea [Member] | ||
Inventory | 1,616 | 1,723 |
Packaging, Supplies and Other Merchandise Held for Sale [Member] | ||
Inventory | $ 57,406 | $ 40,210 |
Note 4 - Properties and Equip_3
Note 4 - Properties and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation, Total | $ 80,873 | $ 51,746 |
Note 4 - Properties and Equip_4
Note 4 - Properties and Equipment - Summary of Property and Equipment (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Less: accumulated depreciation | $ (1,221,243) | $ (1,161,533) |
Equipment [Member] | ||
Property and equipment | 488,189 | 490,430 |
Furniture and Fixtures [Member] | ||
Property and equipment | 151,093 | 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 |
Property Held Under Finance Leases [Member] | ||
Property and equipment | 362,280 | 225,864 |
All Property and Equipment, Excluding Right of Use [Member] | ||
Property and equipment | 1,480,733 | 1,470,182 |
Property and equipment, net | $ 259,490 | $ 308,649 |
Note 5 - Operating Leases, an_3
Note 5 - Operating Leases, and Long-term Debt and Equipment Financing (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Interest Expense, Total | $ 5,595 | $ 7,284 |
Note 5 - Operating Leases, an_4
Note 5 - Operating Leases, and Long-term Debt and Equipment Financing - Lease-related Assets and Liabilities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Operating lease assets | $ 543,465 | |
Equipment financing assets | 90,266 | |
Total lease assets | 633,731 | |
Operating | 96,566 | |
Current portion of long-term debt and equipment financing | 25,949 | 48,262 |
Operating | 446,899 | |
Noncurrent long-term debt and equipment financing | 22,096 | $ 36,302 |
Total lease liabilities | $ 591,510 | |
Operating leases (in years) (Year) | 4 years 91 days | |
Equipment financing (in years) (Year) | 1 year 244 days | |
Operating leases | 2.45% | |
Equipment financing | 7.62% |
Note 5 - Operating Leases, an_5
Note 5 - Operating Leases, and Long-term Debt and Equipment Financing - Lease Cost (Details) | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Equipment financing and long-term debt cost: | $ 50,438 |
Amortization of assets | 44,843 |
Interest on equipment financing and long-term debt | 5,595 |
Operating lease cost: | 108,737 |
Short-term lease cost | |
Variable lease cost | |
Total lease cost | $ 159,175 |
Note 5 - Operating Leases, an_6
Note 5 - Operating Leases, and Long-term Debt and Equipment Financing - Other Information (Details) | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Operating cash flows for operating leases | $ 108,737 |
Operating cash flows for equipment financing and long-term debt | 5,595 |
Financing cash flows for equipment financing and long-term debt | $ 48,787 |
Note 5 - Operating Leases, an_7
Note 5 - Operating Leases, and Long-term Debt and Equipment Financing - Undiscounted Cash Flows (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
2020 | $ 109,969 | |
2021 | 109,969 | |
2022 | 109,221 | |
2023 | 105,482 | |
2024 | 104,342 | |
Thereafter | 43,000 | |
Total minimum lease payments, operating lease | 581,983 | |
Less: amount of lease payments representing interest, operating lease | (38,518) | |
Present value of future minimum lease payments, operating lease | 543,465 | |
Less: current obligations under leases, operating lease | (96,566) | |
Operating | $ 446,899 |
Note 5 -Operating Leases, and L
Note 5 -Operating Leases, and Long-term Debt and Equipment Financing - Summary of Long Term Debt (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Long-term debt | $ 48,046 | $ 84,564 |
Less current portion of long-term debt | (25,949) | (48,262) |
Noncurrent long-term debt and equipment financing | 22,096 | 36,302 |
First Hansel Ford due on March 14, 2019 [Member] | ||
Long-term debt | 1,154 | |
Second Hansel Ford due on March 14, 2019 [Member] | ||
Long-term debt | 1,154 | |
Bank of the West due on January 1, 2020 [Member] | ||
Long-term debt | 1,454 | 18,058 |
Hansel Ford due on May 3, 2020 [Member] | ||
Long-term debt | 3,213 | 12,727 |
Bank of the West due on January 1, 2021 [Member] | ||
Long-term debt | 8,974 | 17,188 |
Savings Bank of Mendocino due on December 28, 2021 [Member] | ||
Long-term debt | 11,897 | 17,473 |
Pawnee Leasing due on May 15, 2022 [Member] | ||
Long-term debt | 11,131 | 16,810 |
Ally Financial due on July 1, 2024 [Member] | ||
Long-term debt | $ 11,377 |
Note 5 -Operating Leases, and_2
Note 5 -Operating Leases, and Long-term Debt and Equipment Financing - Summary of Long Term Debt (Details) (Parentheticals) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
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 | |
Interest rate | 0.90% | |
Maturity date | Mar. 14, 2019 | Mar. 14, 2019 |
Bank of the West due on January 1, 2020 [Member] | ||
Monthly installment | $ 1,465 | $ 1,465 |
Interest rate | 9.22% | 9.22% |
Maturity date | Jan. 1, 2020 | Jan. 1, 2020 |
Hansel Ford due on May 3, 2020 [Member] | ||
Monthly installment | $ 806 | $ 806 |
Interest rate | 1.94% | 1.94% |
Maturity date | May 3, 2020 | May 3, 2020 |
Bank of the West due on January 1, 2021 [Member] | ||
Monthly installment | $ 787 | $ 787 |
Interest rate | 9.23% | 9.23% |
Maturity date | Jan. 1, 2021 | Jan. 1, 2021 |
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 |
Pawnee Leasing due on May 15, 2022 [Member] | ||
Monthly installment | $ 528 | $ 528 |
Interest rate | 15.18% | 15.18% |
Maturity date | May 15, 2022 | May 15, 2022 |
Ally Financial due on July 1, 2024 [Member] | ||
Monthly installment | $ 237 | |
Interest rate | 5.89% | |
Maturity date | Jul. 1, 2024 | Jul. 1, 2024 |
Note 5 - Operating Leases, an_8
Note 5 - Operating Leases, and Long-term Debt and Equipment Financing - Maturities of Notes Payable and Capital Lease Obligations (Details) | Dec. 31, 2019USD ($) |
Principal due in 2020 | $ 26,417 |
Principal due in 2021 | 12,304 |
Principal due in 2022 | 5,042 |
Principal due in 2023 | 2,657 |
Principal due in 2024 | 1,626 |
Total | $ 48,046 |
Note 6 - Disaggregated Revenu_3
Note 6 - Disaggregated Revenue by Routes, Direct and Mail Order - Disaggregation of Revenue (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue | $ 4,165,917 | $ 3,226,269 |
Routes-wholesale [Member] | ||
Revenue | 1,247,336 | 1,302,860 |
Direct-wholesale [Member] | ||
Revenue | 2,465,571 | 1,468,352 |
Mailorder-retail [Member] | ||
Revenue | $ 453,010 | $ 455,057 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Operating Loss Carryforwards, Total | $ 94,000 | |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 95,565 | $ 9,522 |
Note 7 - Income Taxes - Income
Note 7 - Income Taxes - Income Tax Provision (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Current state provision | $ 8,247 | $ 800 |
Deferred provision | ||
Federal | ||
State | ||
Total deferred provision | ||
Total provision | $ 8,247 | $ 800 |
Note 7 - Income Taxes - Deferre
Note 7 - Income Taxes - Deferred Assets and Liabilities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Net operating losses | $ 19,680 | $ 107,209 |
Depreciation | (18,696) | (2,878) |
Other | 24,719 | 16,937 |
Subtotal | 25,703 | 121,268 |
Valuation allowance | (25,703) | (121,268) |
Net deferred tax asset |
Note 7 - Income Taxes - Effecti
Note 7 - Income Taxes - Effective Income Tax rate Reconciliation (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Federal tax (benefit), net | 21.00% | 21.00% |
State tax (benefit) | 7.00% | (8.80%) |
Valuation allowance | (25.00%) | 27.50% |
Effective Income Tax Rate Reconciliation, Percent, Total | 3.00% | (2.30%) |
Note 8 - Related Party Transa_3
Note 8 - Related Party Transactions (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Sep. 30, 2020 | Dec. 31, 2018 | |
Operating Leases, Monthly Rental Payment | $ 8,600 | ||
Lessee, Operating Lease, Term of Contract (Year) | 10 years | ||
ETICO [Member] | |||
Due to Related Parties, Current, Total | $ 37,333 | $ 53,327 | |
Subsequent Event [Member] | |||
Accrued Rent | $ 17,200 |
Note 8 - Related Party Transa_4
Note 8 - Related Party Transactions - Minimum Future Rental Payments Under Non-cancelable Leases (Details) | Dec. 31, 2019USD ($) |
2020 | $ 103,200 |
2021 | 103,200 |
2022 | 103,200 |
2023 | 103,200 |
2024 | 103,200 |
Thereafter | 43,000 |
Total of long-term lease | $ 559,000 |
Note 9 - Business Segment (Deta
Note 9 - Business Segment (Details Textual) | 12 Months Ended |
Dec. 31, 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 |