EACO Corp Files 2024 Annual Report

TL;DR

EACO Corp filed its 10-K for FY24. Business address: 5065 E Hunter Ave, Anaheim, CA.

AI Summary

EACO Corp filed its 10-K for the fiscal year ending August 31, 2024. The company, formerly known as Family Steak Houses of Florida Inc., is incorporated in Florida and operates in the wholesale electronic parts and equipment sector. Its principal business address is 5065 E Hunter Ave, Anaheim, CA 92807.

Why It Matters

This filing provides investors with a comprehensive overview of EACO Corp's financial performance and business operations for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not contain immediate red flags or significant negative disclosures.

Key Numbers

• 20240831 — Fiscal Year End (Reporting period for the 10-K)
• 20241129 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• EACO CORP (company) — Filer
• FAMILY STEAK HOUSES OF FLORIDA INC (company) — Former Company Name
• 5065 E HUNTER AVE (location) — Business Address
• ANAHEIM, CA 92807 (location) — Business Address City, State, Zip
• 20240831 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.01 — Section 12(g) of the Act: Common Stock, $0.01 Par Value (Title of Class) Indicate b

Filing Documents

• eaco-20240831x10k.htm (10-K) — 1169KB
• eaco-20240831xex4d1.htm (EX-4.1) — 16KB
• eaco-20240831xex19d1.htm (EX-19.1) — 115KB
• eaco-20240831xex31d1.htm (EX-31.1) — 11KB
• eaco-20240831xex32d1.htm (EX-32.1) — 6KB
• 0001410578-24-002066.txt ( ) — 5281KB
• eaco-20240831.xsd (EX-101.SCH) — 36KB
• eaco-20240831_cal.xml (EX-101.CAL) — 57KB
• eaco-20240831_def.xml (EX-101.DEF) — 109KB
• eaco-20240831_lab.xml (EX-101.LAB) — 311KB
• eaco-20240831_pre.xml (EX-101.PRE) — 255KB
• eaco-20240831x10k_htm.xml (XML) — 686KB

Business

Business 2 Item 1A

Risk Factors

Risk Factors 4 Item 1B Unresolved Staff Comments 9 Item 1C Cybersecurity 9 Item 2

Properties

Properties 10 Item 3

Legal Proceedings

Legal Proceedings 10 Item 4 Mine Safety Disclosures 11 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchasers of Equity Securities 11 Item 6

Selected Financial Data

Selected Financial Data 11 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 15 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 32 Item 9A

Controls and Procedures

Controls and Procedures 32 Item 9B Other Information 32 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 32 PART III Item 10 Directors, Executive Officers and Corporate Governance 33 Item 11

Executive Compensation

Executive Compensation 37 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 38 Item 13 Certain Relationships and Related Transactions, and Director Independence 39 Item 14 Principal Accounting Fees and Services 40 PART IV Item 15 Exhibits, Financial Statement Schedules 41 1 Table of Contents PART I

Business

Item 1. Business EACO Corporation ("EACO"), incorporated in Florida in September 1985, is a holding company, primarily comprised of its wholly-owned subsidiary, Bisco Industries, Inc. ("Bisco") and Bisco's wholly-owned Canadian subsidiary, Bisco Industries Limited. Substantially all of EACO's operations are conducted through Bisco and Bisco Industries Limited. Bisco is a distributor of electronic components and fasteners with 51 sales offices and seven distribution centers located throughout the United States and Canada and one additional sales office located in the Philippines. Bisco supplies parts used in the manufacture of products in a broad range of industries, including the aerospace, circuit board, communication, computer, fabrication, instrumentation, industrial equipment and marine industries. Bisco commenced operations in Illinois in 1973 and was incorporated in 1974. Bisco's principal executive offices are located at 5065 East Hunter Avenue, Anaheim, California 92807, which also serves as the principal executive offices of EACO. EACO's website address is www.eacocorp.com and Bisco's website address is www.biscoind.com. The inclusion of these website addresses in this annual report does not include, or incorporate by reference into this annual report, any information on or accessible through the websites. EACO, Bisco and Bisco Industries Limited are collectively referred to herein as the "Company," "we," "us" and "our." Operations Products and Services Bisco stocks thousands of items from more than 260 manufacturers. Bisco's products include electronic components such as spacers and standoffs, card guides and ejectors, component holders and fuses, circuit board connectors, and cable components, as well as a large variety of fasteners and hardware. The breadth of Bisco's products and extensive inventory provide a one-stop shopping experience for many customers. Bisco also provides customized services and solutions for a wide range of production nee

Risk Factors

Item 1A. Risk Factors Our business is subject to a number of risks, some of which are discussed below. The risk factors discussed in this section should be considered together with information included elsewhere in this Annual Report on Form 10-K (the "Annual Report") and should not be considered the only risks to which the Company is exposed. If any of the risks actually occur, our business, financial condition, or results of operations could be seriously harmed. In that event, the market price for shares of our common stock may decline, and you could lose all or part of your investment. Company and Operational Risks We generally do not have long-term supply agreements or guaranteed price or delivery arrangements with the majority of our suppliers. In most cases, we have no guaranteed price or delivery arrangements with our suppliers. Consequently, we may experience inventory shortages on certain products from time to time. Furthermore, our industry occasionally experiences significant product supply shortages and customer order backlogs due to the inability of certain manufacturers to supply products as needed. We cannot assure you that our suppliers will maintain an adequate supply of products to fulfill our orders on a timely basis, at a recoverable cost, or at all, or that we will be able to obtain particular products on favorable terms, on a timely basis, or at all. Additionally, we cannot assure you that product lines currently offered by suppliers will continue to be available to us. A decline in the supply or continued availability of the products of our suppliers, or a significant increase in the price of those products, could reduce our sales, harm our reputation and negatively affect our operating results. Our supply agreements are generally terminable at the suppliers' discretion. Substantially all of the agreements we have with our suppliers, including our authorized distributor agreements, may be terminated by either party with little or no n

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View this 10-K filing on SEC EDGAR