Consolidated Statements of Income (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
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Aug. 31, 2016 |
Aug. 31, 2015 |
Aug. 31, 2016 |
Aug. 31, 2015 |
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REVENUES | ||||
Royalty fees from franchised stores | $ 441,949 | $ 440,960 | $ 1,298,562 | $ 1,278,715 |
Franchise fees | 60,000 | 50,000 | 78,000 | 80,000 |
Licensing fees and other income | 114,181 | 118,351 | 384,885 | 310,746 |
Total Revenues | 616,130 | 609,311 | 1,761,447 | 1,669,461 |
Selling, general and administrative expenses: | ||||
Payroll and payroll-related expenses | 248,233 | 267,100 | 768,300 | 829,291 |
Occupancy | 43,599 | 44,054 | 131,337 | 129,520 |
Advertising and promotion | 10,485 | 13,598 | 32,077 | 40,945 |
Professional service fees | 36,844 | 29,145 | 108,376 | 106,652 |
Travel | 9,196 | 12,292 | 26,532 | 33,643 |
Employee benefit expense | 38,869 | 39,715 | 116,224 | 114,038 |
Depreciation and amortization | 5,167 | 4,176 | 15,183 | 12,703 |
Legal settlement | 243,046 | |||
Other | 58,186 | 71,986 | 176,629 | 158,450 |
Total Operating Expenses | 450,579 | 482,066 | 1,374,658 | 1,668,288 |
Income from operations | 165,551 | 127,245 | 386,789 | 1,173 |
Interest income | 90 | 306 | 423 | 1,478 |
Interest expense | (396) | (776) | (1,190) | (2,327) |
Income before provision for income taxes | 165,245 | 126,775 | 386,022 | 324 |
Provision for income taxes | ||||
Current tax benefit/(expense) | 8,500 | 8,500 | ||
Net Income | $ 165,245 | $ 135,275 | $ 386,022 | $ 8,824 |
Earnings per share - Basic and Diluted (in dollars per share) | $ 0.02 | $ 0.02 | $ 0.05 | $ 0 |
Weighted average shares outstanding - Basic (in shares) | 7,263,508 | 7,263,508 | 7,263,508 | 7,263,508 |
Effect of dilutive common stock (in shares) | ||||
Weighted average shares outstanding - Diluted (in shares) | 7,263,508 | 7,263,508 | 7,263,508 | 7,263,508 |
Cash distributions declared per share (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.05 | $ 0.04 |
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition Costs and payments related to employee benefits and equity-based compensation, such as pension expense and contributions, other postretirement benefits expense and payments, stock or unit options expense, and amortization of restricted stock or unit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Revenue earned during the period from consideration (often a percentage of the franchisee's sales) received for the right to operate a business using the entity's name, merchandise, services, methodologies, promotional support, marketing, and supplies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Revenue earned during the period relating to consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of litigation expense, including but not limited to legal, forensic, accounting, and investigative fees. No definition available.
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- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Costs incurred and are directly related to generating occupancy revenues. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of general expenses not normally included in Other Operating Costs and Expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Expenditures for salaries for officers and non-officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. No definition available.
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- References No definition available.
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- Definition Expenses incurred for travel and entertainment during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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