CCA INDUSTRIES INC

CIK:0000721447|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Revenues:
Sales of health and beauty aid products - net	$ 16,595,499	$ 19,813,262
Other income	11,254	16,836
Total Revenues	16,606,753	19,830,098
Costs and Expenses:
Cost of sales	6,533,340	7,447,776
Selling, general and administrative expenses	7,868,536	7,052,219
Advertising, cooperative and promotional expenses	1,591,227	1,769,748
Research and development	62,989	58,920
Bad debt expense (recovery)	3,860	(9,172)
Interest expense	488,299	505,872
Total Costs and Expenses	16,548,251	16,825,363
Income before provision for income taxes	58,502	3,004,735
Provision for Income Taxes	3,380,268	1,173,554
Net (Loss) Income	$ (3,321,766)	$ 1,831,181
Net (Loss) Income per Share:
Basic (usd per share)	$ (0.45)	$ 0.26
Diluted (usd per share)	$ (0.45)	$ 0.26
Weighted Average Shares Outstanding:
Basic (shares)	7,375,314	7,006,684
Diluted (shares)	7,375,314	7,006,684

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Cash Flows from Operating Activities:
Net (loss) income	$ (3,321,766)	$ 1,831,181
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:
Depreciation and amortization	49,199	84,641
Provision for bad debt	3,860	(9,172)
Loss on disposal or sale of property, plant and equipment	32,859	64,853
Loss on write off of intangibles	0	1,070
Deferred financing fees amortization	218,852	126,266
Stock-based compensation	290,727	167,121
Deferred income taxes	3,352,676	1,062,144
Change in Operating Assets and Liabilities:
Increase in accounts receivable	(16,928)	(428,665)
(Increase) decrease in inventory	(1,433,740)	468,652
Decrease (increase) in prepaid expenses and other receivables	53,741	(175,941)
Decrease in prepaid income and refundable income tax	12,350	6,002
Increase in other assets	0	(6,282)
Decrease in accounts payable and accrued liabilities	(508,190)	(2,041,828)
Increase in long-term liabilities	80	0
Increase in other liabilities	0	21,006
Decrease in income taxes payable	0	(20,000)
Net Cash (Used in) Provided by Operating Activities	(1,266,280)	1,151,048
Cash Flows from Investing Activities:
Acquisition of property, plant and equipment	(25,586)	(54,833)
Purchase of intangible assets	(4,390)	0
Net Cash Used in Investing Activities	(29,976)	(54,833)
Cash Flows from Financing Activities:
Payments to line of credit	(881,629)	(1,261,530)
Proceeds from notes payable, net	1,218,750
Proceeds from exercise of warrant	1,426,500
Payments of deferred finance charges	(233,982)	0
Payments for capital lease obligations	0	(3,722)
Net Cash Provided by (Used in) Financing Activities	1,529,639	(1,265,252)
Net Increase (Decrease) in Cash and Cash Equivalents	233,383	(169,037)
Cash and Cash Equivalents at Beginning of Year	140,243	309,280
Cash and Cash Equivalents at End of Year	373,626	140,243
Cash paid during the period for:
Interest	488,299	505,872
Income taxes	$ 11,153	$ 120,393

Consolidated Balance Sheets - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Current assets:
Cash and cash equivalents	$ 373,626	$ 140,243
Accounts receivable, net of allowances of $361,931 and $540,361, respectively	2,598,585	2,585,517
Inventories	3,312,573	1,878,831
Prepaid expenses and sundry receivables	588,258	642,000
Prepaid and refundable income taxes	25,803	38,153
Total Current Assets	6,898,845	5,284,744
Property and equipment, net of accumulated depreciation	84,595	140,929
Intangible assets, net of accumulated amortization	436,574	432,320
Deferred financing fees, net of accumulated amortization	148,451	133,322
Deferred income taxes	6,149,642	9,502,319
Other	436,745	436,825
Total Assets	14,154,852	15,930,459
Current liabilities:
Accounts payable and accrued liabilities	3,155,333	3,617,543
Line of credit	1,134,726	2,016,355
Notes payable - current portion	375,000	0
Total Current Liabilities	4,665,059	5,633,898
Long-term accrued liabilities	174,530	220,509
Notes payable	843,750	0
Long term - other	168,859	168,859
Total Liabilities	5,852,198	6,023,266
Shareholders' Equity:
Preferred stock, $1.00 par, authorized 20,000,000 none issued	0	0
Additional paid-in capital	6,100,270	4,387,543
Retained earnings	2,127,817	5,449,583
Total Shareholders' Equity	8,302,654	9,907,193
Total Liabilities and Shareholders' Equity	14,154,852	15,930,459
Common stock, $.01 par, authorized 15,000,000 shares, issued and outstanding 6,488,982 and 6,038,982 shares, respectively
Shareholders' Equity:
Common stock	64,890	60,390
Class A common stock, $.01 par, authorized 5,000,000 shares, issued and outstanding 967,702 and 967,702 shares, respectively
Shareholders' Equity:
Common stock	$ 9,677	$ 9,677