CCA INDUSTRIES, INC. CCA Industries, Inc.
Financial Statements (Unaudited)
As of and For the Three Months Ended February 28, 2022 and 2021
CCA INDUSTRIES, INC. FINANCIAL STATEMENTS
INDEX
Page | |
Number | |
Financial Statements: | |
Balance Sheets as ofFebruary 28, 2022 (unaudited) and November 30, 2021 | 3-4 |
Statements of Operations (unaudited) for the three months endedFebruary 28, 2022 | |
and 2021 | 5 |
Statements of Shareholders' Equity for the three months ended February 28, 2022 (unaudited) | 6 |
Statements of Cash Flows (unaudited) for the three months ended February 28, 2022 | 7-8 |
and 2021 | |
Notes to Financial Statements | 9 |
CCA INDUSTRIES, INC.
BALANCE SHEETS
February 28, 2022
ASSETS Current assets:
(Unaudited)November 30, 2021
Cash
$
3,250
$
553,426
Accounts receivable, net of allowances of
$5,271 and $4,126, respectively
1,594,539 1,501,947
Inventories
2,645,154 1,998,453
Prepaid expenses and sundry receivables
98,178 97,173
Prepaid and refundable income taxes
9,280 10,389
Total Current Assets
Property and equipment, net of accumulated depreciation Intangible assets, net of accumulated amortization Deferred financing fees, net of accumulated amortization Deferred income taxes
Other
4,350,401
153,733
1,946,494
2,163
5,923,444
354,550
Total Assets
$
12,730,785
4,161,388
260,879
1,946,529
15,599
5,944,738
$
354,550 12,683,683
LIABILITIES AND CAPITAL Current Liabilities:
Accounts payable and accrued liabilities
Line of credit
Deferred revenue
$
1,873,537 169,821
$
1,896,664 -202,950 202,950
Lease liability - right of use assets
148,236 267,433
Notes payable - current portion
162,084 162,084
Total Current Liabilities
Notes payable
Long-term lease liability - right of use assets Long-term - other
Total Liabilities
2,556,628 177,226 - 141,832 2,875,686
2,529,131 217,903 - 146,750 2,893,784
CCA INDUSTRIES, INC.
BALANCE SHEETS
February 28, 2022 (Unaudited)November 30, 2021
Shareholders' Equity:
Preferred stock, $1.00 par, authorized
20,000,000 shares, Senior Redeemable Series
B, 155,000 and 155,000 shares designated,
issued and outstanding, respectively
155,000 155,000
Common stock, $0.01 par, authorized
15,000,000 shares, issued and outstanding
6,593,982 and 6,563,982 shares, respectively
65,940 65,940
Class A common stock, $0.01 par, authorized
5,000,000 shares, issued and outstanding
967,702 and 967,702 shares, respectively
9,677 9,677
Additional paid-in capital
7,641,452 7,600,829
Retained earnings
1,983,030 1,958,453
Total Shareholders' Equity
9,855,099
9,789,899
Total Liabilities and Shareholders' Equity
See Notes to Financial Statements.
$
12,730,785
$
12,683,683
CCA INDUSTRIES, INC.
STATEMENTS OF OPERATIONS (UNAUDITED)
Three Months Ended February 28,2022
2021
Revenues:
Sales of health and beauty aid products - net
Other income
Total Revenues
$
3,046,254 -
$
2,906,591 3,000
3,046,254
2,909,591
Costs and Expenses:
Cost of sales
Selling, general and administrative expenses
1,191,715 1,638,623
1,170,115 1,794,441
Advertising, cooperative and promotional expenses
146,228 183,690
Research and development
5,318 15,000
Gain on extinguishment of debt
(316,400)
Interest expense
Total Costs and Expenses
- 17,390 2,999,274
44,002 2,890,848
Income before provision for (benefit from) income taxes
Provision for (benefit from) income taxes
46,980 22,403
18,743 (54,777)
Net Income
$
24,577
$
73,520
Earnings per Share:
0.00 $ 0.01
Basic Diluted
$ $
0.00 $ 0.01
Weighted Average Common Shares Outstanding:
Basic
7,561,684 7,536,017
Diluted
See Notes to Financial Statements.
7,656,749 7,551,538
5
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CCA Industries Inc. published this content on 15 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2022 20:31:09 UTC.
