Coffee Holding Co Inc. Files 10-Q for April 30, 2024
Ticker: JVA · Form: 10-Q · Filed: Jun 17, 2024 · CIK: 1007019
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
COFFEE HOLDING CO INC 10-Q FILED: FINANCIAL UPDATE AS OF 04/30/24
AI Summary
Coffee Holding Co Inc. filed its 10-Q for the period ending April 30, 2024. The company, incorporated in Nevada, operates in the miscellaneous food preparations sector. Its principal executive offices are located at 3475 Victory Blvd, Staten Island, NY.
Why It Matters
This filing provides investors with an update on Coffee Holding Co Inc.'s financial performance and position as of April 30, 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Numbers
- 20240430 — Period End Date (The filing covers the financial period ending on this date.)
- 20240617 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- COFFEE HOLDING CO INC (company) — Filer
- 20240430 (date) — Period of Report
- 3475 VICTORY BLVD (address) — Business and Mail Address
- STATEN ISLAND (location) — City
- NY (location) — State
- 10314 (zip_code) — Zip Code
FAQ
What is the fiscal year end for Coffee Holding Co Inc.?
The fiscal year end for Coffee Holding Co Inc. is October 31st.
What is the Standard Industrial Classification code for Coffee Holding Co Inc.?
The SIC code is 2090, categorized under Miscellaneous Food Preparations & Kindred Products.
In which state is Coffee Holding Co Inc. incorporated?
Coffee Holding Co Inc. is incorporated in Nevada (NV).
What was the previous company name for Coffee Holding Co Inc.?
The former company name was TRANSPACIFIC INTERNATIONAL GROUP CORP, with a name change date of 19960201.
What is the SEC file number for Coffee Holding Co Inc.?
The SEC file number is 001-32491.
Filing Stats: 4,466 words · 18 min read · ~15 pages · Grade level 15.7 · Accepted 2024-06-17 17:06:45
Key Financial Figures
- $0.001 — of each class Common Stock, par value $0.001 per share Trading Symbol(s) JVA N
Filing Documents
- form10-q.htm (10-Q) — 816KB
- ex31-1.htm (EX-31.1) — 18KB
- ex32-1.htm (EX-32.1) — 10KB
- 0001493152-24-024160.txt ( ) — 3227KB
- jva-20240430.xsd (EX-101.SCH) — 23KB
- jva-20240430_cal.xml (EX-101.CAL) — 52KB
- jva-20240430_def.xml (EX-101.DEF) — 60KB
- jva-20240430_lab.xml (EX-101.LAB) — 201KB
- jva-20240430_pre.xml (EX-101.PRE) — 154KB
- form10-q_htm.xml (XML) — 321KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 1 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 7 ITEM 4.
Controls and Procedures
Controls and Procedures 7 PART II OTHER INFORMATION 9 ITEM 1.
Legal Proceedings
Legal Proceedings 9 ITEM 1A.
Risk Factors
Risk Factors 9 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 9 ITEM 3. Defaults Upon Senior Securities 9 ITEM 4. Mine Safety Disclosures 9 ITEM 5. Other Information 9 ITEM 6. Exhibits 9
SIGNATURES
SIGNATURES 10 PART I. FINANCIAL INFORMATION COFFEE HOLDING CO., INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) April 30, 2024 October 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 2,427,689 $ 2,733,977 Accounts receivable, net of allowances of $ 144,000 for 2024 and 2023 7,393,037 7,983,032 Receivable from sale of investment — 3,150,000 Inventories 15,512,363 18,986,539 Due from broker 918,485 345,760 Prepaid expenses and other current assets 337,601 413,752 Prepaid and refundable income taxes 379,275 365,876 TOTAL CURRENT ASSETS 26,968,450 33,978,936 Building, machinery, and equipment, net 3,427,067 3,494,450 Customer list and relationships, net of accumulated amortization of $ 270,500 and $ 310,383 for 2024 and 2023, respectively 169,500 184,750 Trademarks and tradenames 327,000 327,000 Equity method investments 39,676 39,676 Right of use asset 2,572,703 2,696,159 Deferred income tax assets, net 1,276,702 1,341,407 Deposits and other assets 141,529 129,523 TOTAL ASSETS $ 34,922,627 $ 42,191,901 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 4,223,661 $ 5,206,442 Line of credit 3,000,000 9,620,000 Due to broker 394,430 292,407 Note payable - current portion — 4,200 Lease liability - current portion 627,209 255,625 TOTAL CURRENT LIABILITIES 8,245,300 15,378,674 Note payable, net of current 4,325 3,034 Lease liabilities, net of current 2,501,749 2,974,579 Deferred compensation payable 126,979 120,523 TOTAL LIABILITIES 10,878,353 18,476,810 Commitments and Contingencies - - STOCKHOLDERS' EQUITY: Coffee Holding Co., Inc. stockholders' equity: Preferred stock, par value $ .001 per share; 10,000,000 shares authorized; none issued $ — $ — Common stock, par value $ .001 per share; 30,000,000 shares authorized, 6,633,930 shares issued for 2024 and 2023; 5,708,599 sha
financial statements and related disclosures
financial statements and related disclosures. Note 3 - Inventories Inventories at April 30, 2024 and October 31, 2023 consisted of the following: Schedule Of Inventories April 30, 2024 October 31, 2023 Packed coffee $ 1,963,575 $ 3,582,935 Green coffee 11,339,870 13,151,993 Roasters and parts 504,816 537,108 Packaging supplies 1,704,102 1,714,503 Totals $ 15,512,363 $ 18,986,539 Inventories $ 15,512,363 $ 18,986,539 Note 4 - Commodities Held By Broker The Company has used, and intends to continue to use in a limited capacity, short term coffee futures and options contracts primarily for the purpose of partially hedging and minimizing the effects of changing green coffee prices and to reduce cost of sales. The commodities held by broker represent the market value of the Company's trading account, which consists of options and futures contracts for coffee held with a brokerage firm. The Company uses options and futures contracts, which are not designated or qualifying as hedging instruments, to partially hedge the effects of fluctuations in the price of green coffee beans. Options and futures contracts are level 1 investments recognized at fair value in the condensed consolidated financial statements with current recognition of gains and losses on such positions. The Company's accounting for options and futures contracts may impact earnings volatility in any particular period. The Company records all open contract positions on the condensed consolidated balance sheets at fair value in the due from and due to broker line items and typically do not offset these assets and liabilities. F-7 COFFEE HOLDING CO., INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) The Company classifies its options and future contracts as trading securities and accordingly, realized and unrealized holding gains and losses are included in the statement of operations as a component of cost of sales. The Company recorded reali
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS (UNAUDITED) Note 6 – Income Taxes The Company accounts for income taxes pursuant to the asset and liability method which requires deferred income tax assets and liabilities to be computed for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in