10-Q

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x Quarterly report pursuant to section 13 or 15(d) of the Securities Act of 1934.

For the quarterly period ended June 30, 2015

or

¨ Transition report pursuant to section 13 or 15(d) of the Securities Act of 1934.

Commission File No. 0-3026

PARADISE, INC.

INCORPORATED IN FLORIDA

I.R.S. EMPLOYER IDENTIFICATION NO. 59-1007583

1200 DR. MARTIN LUTHER KING, JR. BLVD.,

PLANT CITY, FLORIDA 33563

(813) 752-1155

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.         Yes   x      No   ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes  x     No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer   ¨   Accelerated filer   ¨   Non-accelerated filer   ¨   Smaller reporting company    x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ¨ No x

The number of shares outstanding of each of the issuer’s classes of common stock as of August 13, 2015 was 519,600 shares.

PARADISE, INC.

FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2015

INDEX

		PAGE
PART I.	FINANCIAL INFORMATION
	ITEM 1.
	CONSOLIDATED BALANCE SHEETS:
	Assets
	As of June 30, 2015 (Unaudited), December 31, 2014 and June 30, 2014 (Unaudited)	2
	Liabilities and Stockholders’ Equity
	As of June 30, 2015 (Unaudited), December 31, 2014 and June 30, 2014 (Unaudited)	3
	CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED):
	For the three-month periods ended June 30, 2015 and 2014	4
	For the six-month periods ended June 30, 2015 and 2014	5
	CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED):
	For the six-month periods ended June 30, 2015 and 2014	6
	NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)	7 – 10
	ITEM 2.
	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	11 – 14
	ITEM 3.
	QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK – N/A	14
	ITEM 4.
	CONTROLS AND PROCEDURES	14
PART II.	OTHER INFORMATION
	ITEMS 1 – 6.	15
SIGNATURES		16

PARADISE, INC.		COMMISSION FILE NO. 0-3026
PART I.	FINANCIAL INFORMATION
Item 1.	Financial Statements

PARADISE, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

	AS OF				AS OF
	JUNE 30,		AS OF		JUNE 30,
	2015		DECEMBER 31,		2014
	(UNAUDITED)		2014		(UNAUDITED)
ASSETS
CURRENT ASSETS:
Cash	$	3,356,979	$	7,788,010	$	2,322,051
Accounts Receivable,
Less, Allowances of $0 (06/30/15), $912,789 (12/31/14) and $0 (06/30/14)		1,268,723		3,046,669		890,095
Inventories:
Raw Materials and Supplies		3,543,014		2,146,872		4,288,827
Work in Process		249,005		987,614		388,049
Finished Goods		8,689,330		4,350,423		9,374,993
Income Tax Asset		734,241		78,277		464,882
Deferred Income Tax Asset		277,291		277,291		330,198
Prepaid Expenses and Other Current Assets		501,577		306,951		612,057
Total Current Assets		18,620,160		18,982,107		18,671,152
Property, Plant and Equipment,  Less, Accumulated Depreciation of $18,088,884 (06/30/15), $17,880,096 (12/31/14) and $17,636,702 (06/30/14)		3,763,656		3,473,829		3,663,021
Goodwill		413,280		413,280		413,280
Customer Base and Non-Compete Agreement		125,035		187,977		250,920
Other Assets		434,168		451,373		378,776
TOTAL ASSETS	$	23,356,299	$	23,508,566	$	23,377,149

See Accompanying Notes to these Consolidated Financial Statements (Unaudited)

2

	AS OF						AS OF
	JUNE 30,			AS OF			JUNE 30,
	2015			DECEMBER 31,			2014
	(UNAUDITED)			2014			(UNAUDITED)
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Short Term Debt	$	1,155,588		$	112,879		$	496,465
Accounts Payable		781,612			603,342			1,192,668
Accrued Liabilities		206,073			819,458			322,272
Total Current Liabilities		2,143,273			1,535,679			2,011,405
DEFERRED INCOME TAX LIABILITY		203,667			203,667			297,094
Total Liabilities		2,346,940			1,739,346			2,308,499
STOCKHOLDERS’ EQUITY:
Common Stock:  $0.30 Par Value, 2,000,000 Shares Authorized, 583,094 Shares Issued, 519,600 Shares Outstanding		174,928			174,928			174,928
Capital in Excess of Par Value		1,288,793			1,288,793			1,288,793
Retained Earnings		19,818,857			20,578,718			19,878,148
Treasury Stock, at Cost, 63,494 Shares		(273,219	)		(273,219	)		(273,219	)
Total Stockholders’ Equity		21,009,359			21,769,220			21,068,650
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	23,356,299		$	23,508,566		$	23,377,149

3

PARADISE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

	FOR THE THREE MONTHS ENDED
	JUNE 30,
	2015			2014
Net Sales	$	2,479,127		$	2,677,310
Costs and Expenses:
Cost of Goods Sold		2,023,133			1,901,693
Selling, General and Administrative Expense		898,586			818,228
Amortization Expense		35,972			35,972
Total Costs and Expenses		2,957,691			2,755,893
Loss from Operations		(478,564	)		(78,583	)
Other (Expense) Income		26,539			(3,301	)
Loss Before Income Taxes		(452,025	)		(81,884	)
Income Tax Benefit		180,810			32,753
Net Loss	$	(271,215	)	$	(49,131	)
Loss per Common Share (Basic and Diluted)	$	(0.52	)	$	(0.09	)
Dividend per Common Share	$	0.00		$	0.00

See Accompanying Notes to these Consolidated Financial Statements (Unaudited)

4

PARADISE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

	FOR THE SIX MONTHS ENDED
	JUNE 30,
	2015			2014
Net Sales	$	5,170,884		$	5,740,382
Costs and Expenses:
Cost of Goods Sold		4,483,306			4,378,953
Selling, General and Administrative Expense		1,831,646			1,678,104
Amortization Expense		71,943			71,943
Total Costs and Expenses		6,386,895			6,129,000
Loss from Operations		(1,216,011	)		(388,618	)
Other Income		44,852			36,961
Loss Before Income Taxes		(1,171,159	)		(351,657	)
Income Tax Benefit		468,464			140,663
Net Loss	$	(702,695	)	$	(210,994	)
Loss per Common Share (Basic and Diluted)	$	(1.35	)	$	(0.41	)
Dividend per Common Share	$	0.11		$	0.11

See Accompanying Notes to these Consolidated Financial Statements (Unaudited)

5

PARADISE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	FOR THE SIX MONTHS ENDED
	JUNE 30,
	2015			2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$	(702,695	)	$	(210,994	)
Adjustments to Reconcile Net Loss to
Net Cash Used in Operating Activities:
Depreciation and Amortization		280,729			297,819
Provision for Deferred Income Taxes		-			-
Decrease (Increase) in:
Accounts Receivable		1,777,946			1,479,226
Inventories		(4,996,440	)		(5,214,071	)
Prepaid Expenses and Other Current Assets		(194,626	)		(307,245	)
Income Tax Asset		(655,964	)		(185,663	)
Other Assets		8,205			(103,797	)
Increase (Decrease) in:
Accounts Payable		178,260			884,339
Accrued Expense		(613,385	)		(601,268	)
Net Cash Used in Operating Activities		(4,917,970	)		(3,961,654	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Property and Equipment		(498,614	)		(71,970	)
Net Cash Used in Investing Activities		(498,614	)		(71,970	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net Proceeds from Short Term Debt		1,042,709			496,465
Dividends Paid		(57,156	)		(57,156	)
Net Cash Provided by Financing Activities		985,553			439,309
NET DECREASE IN CASH		(4,431,031	)		(3,594,315	)
CASH, AT BEGINNING OF PERIOD		7,788,010			5,916,366
CASH, AT END OF PERIOD	$	3,356,979		$	2,322,051
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for:
Income Taxes	$	187,500		$	-

See Accompanying Notes to these Consolidated Financial Statements (Unaudited)

6

PARADISE, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

NOTE 1 BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of Paradise, Inc. (the “Company”) have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements.

The information furnished herein reflects all adjustments and accruals of a normal recurring nature that management believes are necessary to fairly state the operating results for the respective periods. The notes to the unaudited consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements contained in the Company’s Form 10-K for the year ended December 31, 2014. The Company’s management believes that the disclosures are sufficient for interim financial reporting purposes.

Consumer demand for glace’ fruit product is traditionally strongest during the Thanksgiving and Christmas season. Almost 80% of glace’ fruit product sales are recorded during an eight to ten week period beginning in mid September. Therefore, the operating results for the six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the current year.

Certain minor reclassifications have been made to the consolidated unaudited financial statements for the three and six months ended June 30, 2014 to conform to the classifications used for the three and six months ended June 30, 2015.

NOTE 2 RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout Industry topics of the Codification. Additionally, this Update supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles-Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this Update. Under the new guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. On April 1, 2015, the FASB voted for a one-year deferral of the effective date of the new revenue recognition standard, ASU No. 2014-09. If these proposed changes are finalized, this standard would require public entities to apply the amendments in ASU No. 2014-09 for annual reporting beginning after December 15, 2017. Early adoption would be permitted as of the original effective date in ASU No. 2014-09, which is for annual reporting periods beginning after December 15, 2016. We are currently evaluating the impact of adopting the guidance on our consolidated financial statements.

Except as noted above, the Company’s management does not believe that recent codified pronouncements by the Financial Accounting Standards Board (“FASB”) (including its EITF), the AICPA or the Securities and Exchange Commission will have a material impact on the Company’s current or future consolidated financial statements.

7

PARADISE, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(UNAUDITED)

NOTE 3 LOSS PER COMMON SHARE

Basic and diluted loss per common share is based on the weighted average number of shares outstanding and assumed to be outstanding of 519,600. There are no dilutive securities outstanding.

NOTE 4 BUSINESS SEGMENT DATA

The Company’s operations are conducted through two business segments. These segments, and the primary operations of each, are as follows:

Business Segment	Operation
Fruit	Production of candied fruit, a basic fruitcake ingredient, sold to manufacturing bakers, institutional users, and retailers for use in home baking.  Also, based on market conditions, the processing of frozen strawberry products, for sale to commercial and institutional users such as preservers, dairies, drink manufacturers, etc.
Molded Plastics	Production of plastics containers and other molded plastics for sale to various food processors and others.

	Three months ended		Three months ended
	June 30,		June 30,
	2015		2014
Net Sales in Each Segment
Fruit:
Sales to Unaffiliated Customers	$	302,841	$	447,667
Molded Plastics:
Sales to Unaffiliated Customers		2,176,286		2,229,643
Net Sales	$	2,479,127	$	2,677,310

8

PARADISE, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(UNAUDITED)

NOTE 4 BUSINESS SEGMENT DATA (CONTINUED)

	Six months ended		Six months ended
	June 30,		June 30,
	2015		2014
Net Sales in Each Segment
Fruit:
Sales to Unaffiliated Customers	$	1,307,129	$	1,228,597
Molded Plastics:
Sales to Unaffiliated Customers		3,863,755		4,511,785
Net Sales	$	5,170,884	$	5,740,382

The Company does not prepare operating profit or loss information on a segment basis for internal use, until the end of each year. Due to the seasonal nature of the fruit segment, management believes that it is not practical to prepare this information for interim reporting purposes. Therefore, reporting is not required by accounting principles generally accepted in the United States of America.

	June 30,		June 30,
	2015		2014
Identifiable Assets of Each Segment are Listed Below:
Fruit	$	12,343,020	$	13,895,562
Molded Plastics		5,115,888		4,755,551
Identifiable Assets		17,458,908		18,651,113
General Corporate Assets		5,897,391		4,726,036
Total Assets	$	23,356,299	$	23,377,149

Identifiable assets by segment are those assets that are principally used in the operations of each segment. General corporate assets are principally cash, prepaid expenses, other current assets, land and income tax assets.

9

PARADISE, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(UNAUDITED)

NOTE 5 SUBSEQUENT EVENT

On July 31, 2015, Paradise, Inc. renewed its revolving line of credit with SunTrust Banks through July 31, 2017. This renewal provides for a maximum limit of $12 million and a borrowing limit of 80% of the Company’s eligible receivables plus the lessor of $6,000,000 or 50% of the Company’s eligible inventory from January 1 to May 31 and 60% from June 1 to December 31 of each year. Within this agreement are letters of credit with a limit of $1,750,000. The agreement is secured by all of the assets of the Company and requires that certain conditions are met for the Company to continue borrowing, including debt service coverage and debt to equity ratios and other financial covenants including an agreement not to encumber a mortgage on the property without bank approval.  Interest is payable monthly at the bank’s LIBOR plus 1.75%.

10

PARADISE, INC. COMMISSION FILE NO. 0-3026

PART I. FINANCIAL INFORMATION

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward–Looking Statements

This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact should be considered “forward-looking statements” for the purpose of these provisions, including statements that include projections of, or expectations about, earnings, revenues or other financial items, statements about our plans and objectives for future operations, statements concerning proposed new products or services  , statements regarding future economic conditions or performance, statements concerning our expectations regarding the attraction and retention of customers, statements about market risk and statements underlying any of the foregoing. In some cases, forward-looking statements can be identified by the use of such terminology as “may”, “will”, “expects”, “potential”, or “continue”, or the negative thereof or other similar words. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we can give no assurance that such expectations or any of our forward-looking statements will prove to be correct. Actual results and developments are likely to be different from, and may be materially different from, those expressed or implied by our forward-looking statements. Forward-looking statements are subject to inherent risks and uncertainties.

Overview

Paradise, Inc.’s main business segment, glace’ fruit, a prime ingredient of fruitcakes and other holiday confections, represented 65.8% of total net sales during the prior year ended December 31, 2014. These products are sold to manufacturing bakers, institutional users, supermarkets and other retailers throughout the country. Consumer demand for glace’ fruit product is traditionally strongest during the Thanksgiving and Christmas season. Almost 80% of glace’ fruit product sales are recorded during an eight to ten week period beginning in mid September.

Since the majority of the Company’s customers require delivery of glace’ candied fruit products during this relatively short period of time, Paradise, Inc. must operate at consistent levels of production from as early as January through the middle of November of each year in order to meet peak demands. Furthermore, the Company must make substantial borrowings of short-term working capital to cover the cost of raw materials, factory overhead and labor expense associated with production for inventory. This combination of building and financing inventories during the year, without the opportunity to record any significant fruit product income, results in the generation of operating losses well into the third quarter of each year. Therefore, it is the opinion of management that meaningful forecasts of annual net sales or profit levels require analysis of a full year’s operations.

In addition, comparison of current quarterly results to the preceding quarter produces an incomplete picture on the Company’s performance due to year-to-year changes in production schedules, seasonal harvests and availability of raw materials, and in the timing of customer orders and shipments. Thus, the discussion of information presented within this report is focused on the review of the Company’s current year-to-date results as compared to the similar period last year.

Paradise, Inc.’s other business segment, Paradise Plastics, Inc., a wholly owned subsidiary of Paradise, Inc. producing custom molding products, is not subject to the seasonality of the glace’ fruit business. This segment represents all injection molding and thermoforming operations, including the packaging for the Company’s fruit products. Only sales to unaffiliated customers are reported.

11

PARADISE, INC. COMMISSION FILE NO. 0-3026

PART I. FINANCIAL INFORMATION

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

The First Six Months

Paradise, Inc.’s fruit segment net sales for the first six months of 2015 increased 6.4% to $1,307,129 from $1,228,597 for the similar reporting period of 2014. The two primary sales activities for this segment during the first six months of the year relate to the sale of bulk fruit to supermarkets and manufacturing bakeries; and tolling fees generated from the production of fresh strawberries on behalf of a local Plant City, Florida distributor. For the first six months of 2015, net sales of glace’ fruit products totaled $808,786 compared to $887,859 for the similar reporting period of 2014. Sales of finished strawberry products totaled $498,343 compared to $340,738 for the similar reporting period of 2014.

Paradise Plastics, Inc., a wholly owned company of Paradise, Inc. which accounted for 34.2% of total net sales to unaffiliated customers for the previous year, generated net sales of $3,863,755 for the six months ended June 30, 2015 compared to $4,511,785 for the similar reporting period of 2014. This decrease in net sales of $648,030 which was first reported and disclosed in Paradise, Inc.’s first quarter 10Q filing is directly related to the decision of an existing long term customer to transfer production of custom molding parts to their facilities as of January 1, 2015.

Consolidated cost of sales, as a percentage of net sales, increased 10.3% during the first six months of 2015 compared to the similar reporting period of 2014. This increase is two-fold; first, a delay in receiving raw fruit materials as of June 30, 2015 resulted in a lesser amount of raw materials processed into higher valued finish goods inventory compared to June 30, 2014. However, with capacity to process an increased amount of raw fruit materials into finish goods inventory during the third quarter of 2015, fruit segment cost of sales should return to margins reported and disclosed in the Company’s 2014 third quarter filing. Secondly, cost of sales within the plastics segment has increased as the margins generated from production transferred back to an existing plastics customer, has been replaced with lower margin accounts during the second quarter of 2015.

Selling, general and administrative expenses for the first six months of 2015 increased 9.15% compared to the similar reporting period of 2014 as the Company’s sales force increased their attendance and participation at various trade shows during the first six months of 2015.

Inventory as of June 30, 2015 totaled $12,481,349 compared to $14,051,869 as of June 30, 2014. This decrease of $1,570,520 is primarily related to the delay in receipt of raw fruit inventory from one of the Company’s major suppliers. On June 30, 2015, $911,436 of fruit material was in transit compared to just $109,712 at June 30, 2014. As the Company utilizes existing letters of credit to finance the purchase of in transit raw fruit commodities, short term debt correspondingly increased to $1,155,588 as of June 30, 2015 from $496,465 as of June 30, 2014.

Accounts Receivable as of June 30, 2015 totaled $1,268,723 compared to $890,095 as of June 30, 2014. The increase is due to the timing of payments received from one of the Company’s long term plastics customers. On July 31, 2015, payments totaling $511,956 related to outstanding invoices at June 30, 2015 have been received and posted.

12

PARADISE, INC. COMMISSION FILE NO. 0-3026

PART I. FINANCIAL INFORMATION

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

Other Significant Items

We finance our ongoing operations primarily with cash provided by our operating activities which are seasonal in nature. Our principal sources of liquidity are our cash flows provided by operating activities, our existing cash, and a line of credit facility. At June 30, 2015 and December 31, 2014, we had $3,356,979 and $7,788,010, respectively, in cash. Additionally, we have a revolving line of credit with a maximum limit of $12 million and a borrowing limit of 80% of the Company’s eligible receivables plus 50% of the Company’s eligible inventory from January 1 to May 31 and 60% from June 1 to December 31 of each year, of which $0 was outstanding at June 30, 2015 and December 31, 2014. Within this agreement, there are letters of credit with a limit of $1,750,000, of which $1,155,588 was outstanding at June 30, 2015 and $112,879 at December 31, 2014. The line of credit agreement expires July 31, 2017. Net cash used in operating activities decreased from $3,961,654 for the six months ended June 30, 2014 to $4,917,970 for the six months ended June 30, 2015. The primary reason for this decrease was as follows; Accounts Payable and income tax payments made during the six months ended June 30, 2015 were $893,579 more than the similar reporting period of 2014. Net cash provided by financing activities increased to $985,553 for the six months ended June 30, 2015 compared to $439,309 for the six months ended June 30, 2014 due to timing of payments on letters of credit.

Summary

Paradise, Inc.’s consolidated net sales for the first six months of 2015 decreased $569,498 compared to the similar reporting period of 2014 as a major plastics customer decided to bring in-house production of several custom molding products. However, as mentioned and disclosed in all previous interim filings, due to the highly seasonal nature of the Company’s primary product, glace’ fruit, which accounts for approximately 65% of consolidated annual revenue with more than 80% of this revenue earned during an eight to ten week period commencing in mid-September of each year no meaningful financial analysis may be developed from Paradise, Inc.’s interim reporting results. Only a full year’s accounting of revenue and expenses will provide the necessary information to determine the Company’s overall financial performance.

Critical Accounting Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make assessments, estimates and assumptions that affect the amounts reported in the consolidated financial statements. We evaluate the accounting policies and estimates used to prepare the consolidated financial statements on an ongoing basis. Critical accounting estimates are those that require management’s most difficult, complex, or subjective judgments and have the most potential to impact our financial position and operating results. For a detailed discussion of our critical accounting estimates, see our Annual Report on Form 10-K for the year ended December 31, 2014. There have been no material changes to our critical accounting estimates during the six months ended June 30, 2015.

13

PARADISE, INC. COMMISSION FILE NO. 0-3026

PART I. FINANCIAL INFORMATION

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

Recently Issued Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout Industry topics of the Codification. Additionally, this Update supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles-Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this Update. Under the new guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. On April 1, 2015, the FASB voted for a one-year deferral of the effective date of the new revenue recognition standard, ASU No. 2014-09. If these proposed changes are finalized, this standard would require public entities to apply the amendments in ASU No. 2014-09 for annual reporting beginning after December 15, 2017. Early adoption would be permitted as of the original effective date in ASU No. 2014-09, which is for annual reporting periods beginning after December 15, 2016. We are currently evaluating the impact of adopting the guidance on our consolidated financial statements.

Except as noted above, the Company’s management does not believe that recent codified pronouncements by the Financial Accounting Standards Board (“FASB”) (including its EITF), the AICPA or the Securities and Exchange Commission will have a material impact on the Company’s current or future consolidated financial statements.

Item 3. Quantitative and Qualitative Disclosure and Market Risk – N/A

Item 4. Controls and Procedures

As of June 30, 2015, our Chief Executive Officer and Chief Financial Officer have evaluated the Company’s disclosure controls and procedures, and they have concluded that we maintain effective disclosure controls and procedures. There were no changes in our internal control over financial reporting during the six months ended June 30, 2015.

Disclosure controls and procedures mean the methods designed to ensure that information that the Company is required to disclose in the reports that it files with the Securities and Exchange Commission is recorded, processed, summarized and reported within the time periods required. Our controls and procedures are designed to ensure that all information required to be disclosed is accumulated and communicated to our management to allow timely decisions regarding disclosure. Our controls and procedures are also designed to provide reasonable assurance of the reliability of our financial reporting and accurate recording of our financial transactions.

A control system, however well designed and operated, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. There are inherent limitations in all control systems, and no evaluation of controls can provide absolute assurance that all control gaps or instances of fraud have been detected. These inherent limitations include the realities that the judgments in decision-making can be faulty, and that simple errors or mistakes can occur.

14

PARADISE, INC. COMMISSION FILE NO. 0-3026

PART II. OTHER INFORMATION

Item 1. Legal Proceedings – N/A

Item 1A. Risk Factors – N/A

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds – N/A

Item 3. Defaults Upon Senior Securities – N/A

Item 4. Mine Safety Disclosures – N/A

Item 5. Other Information – N/A

Item 6. Exhibits

Exhibit
Number	Description
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer pursuant to Section 906  of the Sarbanes-Oxley Act of 2002
32.2	Certification of Chief Financial Officer pursuant to Section 906  of the Sarbanes-Oxley Act of 2002
EX-101.INS	XBRL Instance Document
EX-101.SCH	XBRL Taxonomy Extension Schema
EX-101.CAL	XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF	XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB	XBRL Taxonomy Extension Label Linkbase
EX-101.PRE	XBRL Taxonomy Extension Presentation Linkbase

15

PARADISE, INC. COMMISSION FILE NO. 0-3026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

PARADISE, INC.
A Florida Corporation
/s/ Melvin S. Gordon	Date:	August 13, 2015
Melvin S. Gordon
Chief Executive Officer and Chairman
/s/ Jack M. Laskowitz	Date:	August 13, 2015
Jack M. Laskowitz
Chief Financial Officer and Treasurer

16

EX-31.1

Exhibit 31.1

Sarbanes-Oxley Section 302

Certification of Chief Executive Officer

I, Melvin S. Gordon, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Paradise, Inc.

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 13, 2015

/s/ Melvin S. Gordon

Melvin S. Gordon

Chief Executive Officer and Chairman

EX-31.2

Exhibit 31.2

Sarbanes-Oxley Section 302

Certification of Chief Financial Officer

I, Jack M. Laskowitz, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Paradise, Inc.

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 13, 2015

/s/ Jack M. Laskowitz

Jack M. Laskowitz

Chief Financial Officer and Treasurer

EX-32.1

Exhibit 32.1

Certification of CEO pursuant to

18 U.S.C. Section 1350 as adopted pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report of Paradise, Inc. on Form 10-Q for the period ending June 30, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Melvin S. Gordon, as Chief Executive Officer of Paradise, Inc., certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities and Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of Paradise, Inc.

/s/ Melvin S. Gordon	Date:  August 13, 2015
Melvin S. Gordon
Chief Executive Officer and Chairman

EX-32.2

Exhibit 32.2

Certification of CFO pursuant to

18 U.S.C. Section 1350 as adopted pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report of Paradise, Inc. on Form 10-Q for the period ending June 30, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Jack M. Laskowitz, as Chief Financial Officer of Paradise, Inc., certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities and Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of Paradise, Inc.

/s/ Jack M. Laskowitz Date:  August 13, 2015

Jack M. Laskowitz

Chief Financial Officer and Treasurer

XML

BUSINESS SEGMENT DATA

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 4 BUSINESS SEGMENT DATA

The Company’s operations are conducted through two business segments. These segments, and the primary operations of each, are as follows:

Business Segment	Operation
Fruit	Production of candied fruit, a basic fruitcake ingredient, sold to manufacturing bakers, institutional users, and retailers for use in home baking.  Also, based on market conditions, the processing of frozen strawberry products, for sale to commercial and institutional users such as preservers, dairies, drink manufacturers, etc.
Molded Plastics	Production of plastics containers and other molded plastics for sale to various food processors and others.

	Three months ended		Three months ended
	June 30,		June 30,
	2015		2014
Net Sales in Each Segment
Fruit:
Sales to Unaffiliated Customers	$	302,841	$	447,667
Molded Plastics:
Sales to Unaffiliated Customers		2,176,286		2,229,643
Net Sales	$	2,479,127	$	2,677,310

	Six months ended		Six months ended
	June 30,		June 30,
	2015		2014
Net Sales in Each Segment
Fruit:
Sales to Unaffiliated Customers	$	1,307,129	$	1,228,597
Molded Plastics:
Sales to Unaffiliated Customers		3,863,755		4,511,785
Net Sales	$	5,170,884	$	5,740,382

The Company does not prepare operating profit or loss information on a segment basis for internal use, until the end of each year. Due to the seasonal nature of the fruit segment, management believes that it is not practical to prepare this information for interim reporting purposes. Therefore, reporting is not required by accounting principles generally accepted in the United States of America.

	June 30,		June 30,
	2015		2014
Identifiable Assets of Each Segment are Listed Below:
Fruit	$	12,343,020	$	13,895,562
Molded Plastics		5,115,888		4,755,551
Identifiable Assets		17,458,908		18,651,113
General Corporate Assets		5,897,391		4,726,036
Total Assets	$	23,356,299	$	23,377,149

Identifiable assets by segment are those assets that are principally used in the operations of each segment. General corporate assets are principally cash, prepaid expenses, other current assets, land and income tax assets.

XML

LOSS PER COMMON SHARE

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 3 LOSS PER COMMON SHARE

Basic and diluted loss per common share is based on the weighted average number of shares outstanding and assumed to be outstanding of 519,600. There are no dilutive securities outstanding.

XML

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
CURRENT ASSETS:
Cash	$ 3,356,979	$ 7,788,010	$ 2,322,051
Accounts Receivable, Less, Allowances of $0 (06/30/15), $912,789 (12/31/14) and $0 (06/30/14)	1,268,723	3,046,669	890,095
Inventories:
Raw Materials and Supplies	3,543,014	2,146,872	4,288,827
Work in Process	249,005	987,614	388,049
Finished Goods	8,689,330	4,350,423	9,374,993
Income Tax Asset	734,241	78,277	464,882
Deferred Income Tax Asset	277,291	277,291	330,198
Prepaid Expenses and Other Current Assets	501,577	306,951	612,057
Total Current Assets	18,620,160	18,982,107	18,671,152
Property, Plant and Equipment, Less, Accumulated Depreciation of $18,088,884 (06/30/15), $17,880,096 (12/31/14) and $17,636,702 (06/30/14)	3,763,656	3,473,829	3,663,021
Goodwill	413,280	413,280	413,280
Customer Base and Non-Compete Agreement	125,035	187,977	250,920
Other Assets	434,168	451,373	378,776
TOTAL ASSETS	23,356,299	23,508,566	23,377,149
CURRENT LIABILITIES:
Short Term Debt	1,155,588	112,879	496,465
Accounts Payable	781,612	603,342	1,192,668
Accrued Liabilities	206,073	819,458	322,272
Total Current Liabilities	2,143,273	1,535,679	2,011,405
DEFERRED INCOME TAX LIABILITY	203,667	203,667	297,094
Total Liabilities	2,346,940	1,739,346	2,308,499
STOCKHOLDERS’ EQUITY:
Common Stock: $0.30 Par Value, 2,000,000 Shares Authorized, 583,094 Shares Issued, 519,600 Shares Outstanding	174,928	174,928	174,928
Capital in Excess of Par Value	1,288,793	1,288,793	1,288,793
Retained Earnings	19,818,857	20,578,718	19,878,148
Treasury Stock, at Cost, 63,494 Shares	(273,219)	(273,219)	(273,219)
Total Stockholders’ Equity	21,009,359	21,769,220	21,068,650
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 23,356,299	$ 23,508,566	$ 23,377,149

XML

BASIS OF PRESENTATION

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]

NOTE 1 BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of Paradise, Inc. (the “Company”) have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements.

The information furnished herein reflects all adjustments and accruals of a normal recurring nature that management believes are necessary to fairly state the operating results for the respective periods. The notes to the unaudited consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements contained in the Company’s Form 10-K for the year ended December 31, 2014. The Company’s management believes that the disclosures are sufficient for interim financial reporting purposes.

Consumer demand for glace’ fruit product is traditionally strongest during the Thanksgiving and Christmas season. Almost 80% of glace’ fruit product sales are recorded during an eight to ten week period beginning in mid September. Therefore, the operating results for the six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the current year.

Certain minor reclassifications have been made to the consolidated unaudited financial statements for the three and six months ended June 30, 2014 to conform to the classifications used for the three and six months ended June 30, 2015.

XML

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

6 Months Ended

Jun. 30, 2015

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

NOTE 2 RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout Industry topics of the Codification. Additionally, this Update supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles-Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this Update. Under the new guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. On April 1, 2015, the FASB voted for a one-year deferral of the effective date of the new revenue recognition standard, ASU No. 2014-09. If these proposed changes are finalized, this standard would require public entities to apply the amendments in ASU No. 2014-09 for annual reporting beginning after December 15, 2017. Early adoption would be permitted as of the original effective date in ASU No. 2014-09, which is for annual reporting periods beginning after December 15, 2016. We are currently evaluating the impact of adopting the guidance on our consolidated financial statements.

Except as noted above, the Company’s management does not believe that recent codified pronouncements by the Financial Accounting Standards Board (“FASB”) (including its EITF), the AICPA or the Securities and Exchange Commission will have a material impact on the Company’s current or future consolidated financial statements.

XML

CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Allowance for Doubtful Accounts (in dollars)	$ 0	$ 912,789	$ 0
Accumulated depreciation (in dollars)	$ 18,088,884	$ 17,880,096	$ 17,636,702
Common stock, par value (in dollars per share)	$ 0.30	$ 0.30	$ 0.30
Common stock, shares authorized	2,000,000	2,000,000	2,000,000
Common stock, shares issued	583,094	583,094	583,094
Common stock, shares outstanding	519,600	519,600	519,600
Treasury stock, shares	63,494	63,494	63,494

XML

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 13, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Entity Registrant Name	PARADISE INC
Entity Central Index Key	0000076149
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	PARF
Entity Common Stock, Shares Outstanding		519,600

XML

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Sales	$ 2,479,127	$ 2,677,310	$ 5,170,884	$ 5,740,382
Costs and Expenses:
Cost of Goods Sold	2,023,133	1,901,693	4,483,306	4,378,953
Selling, General and Administrative Expense	898,586	818,228	1,831,646	1,678,104
Amortization Expense	35,972	35,972	71,943	71,943
Total Costs and Expenses	2,957,691	2,755,893	6,386,895	6,129,000
Loss from Operations	(478,564)	(78,583)	(1,216,011)	(388,618)
Other (Expense) Income	26,539	(3,301)	44,852	36,961
Loss Before Income Taxes	(452,025)	(81,884)	(1,171,159)	(351,657)
Income Tax Benefit	180,810	32,753	468,464	140,663
Net Loss	$ (271,215)	$ (49,131)	$ (702,695)	$ (210,994)
Loss per Common Share (Basic and Diluted) (in dollars per share)	$ (0.52)	$ (0.09)	$ (1.35)	$ (0.41)
Dividend per Common Share (in dollars per share)	$ 0.00	$ 0.00	$ 0.11	$ 0.11

XML

BASIS OF PRESENTATION (Details Textual)	6 Months Ended
	Jun. 30, 2015
Sales [Member]
Basis Of Presentation [Line Items]
Concentration Risk, Percentage	80.00%

XML

BUSINESS SEGMENT DATA (Tables)

6 Months Ended

Jun. 30, 2015

Net Sales [Member]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The Company’s operations are conducted through two business segments. These segments, and the primary operations of each, are as follows:

Business Segment	Operation
Fruit	Production of candied fruit, a basic fruitcake ingredient, sold to manufacturing bakers, institutional users, and retailers for use in home baking.  Also, based on market conditions, the processing of frozen strawberry products, for sale to commercial and institutional users such as preservers, dairies, drink manufacturers, etc.
Molded Plastics	Production of plastics containers and other molded plastics for sale to various food processors and others.

	Three months ended		Three months ended
	June 30,		June 30,
	2015		2014
Net Sales in Each Segment
Fruit:
Sales to Unaffiliated Customers	$	302,841	$	447,667
Molded Plastics:
Sales to Unaffiliated Customers		2,176,286		2,229,643
Net Sales	$	2,479,127	$	2,677,310

	Six months ended		Six months ended
	June 30,		June 30,
	2015		2014
Net Sales in Each Segment
Fruit:
Sales to Unaffiliated Customers	$	1,307,129	$	1,228,597
Molded Plastics:
Sales to Unaffiliated Customers		3,863,755		4,511,785
Net Sales	$	5,170,884	$	5,740,382

Identifiable Assets [Member]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	June 30,		June 30,
	2015		2014
Identifiable Assets of Each Segment are Listed Below:
Fruit	$	12,343,020	$	13,895,562
Molded Plastics		5,115,888		4,755,551
Identifiable Assets		17,458,908		18,651,113
General Corporate Assets		5,897,391		4,726,036
Total Assets	$	23,356,299	$	23,377,149

XML

BUSINESS SEGMENT DATA (Details 1) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Business Combination Segment Allocation [Line Items]
Total Assets	$ 23,356,299	$ 23,508,566	$ 23,377,149
Candied Fruit [Member]
Business Combination Segment Allocation [Line Items]
Total Assets	12,343,020		13,895,562
Molded Plastics [Member]
Business Combination Segment Allocation [Line Items]
Total Assets	5,115,888		4,755,551
Identifiable Assets [Member]
Business Combination Segment Allocation [Line Items]
Total Assets	17,458,908		18,651,113
General Corporate Assets [Member]
Business Combination Segment Allocation [Line Items]
Total Assets	$ 5,897,391		$ 4,726,036

XML

LOSS PER COMMON SHARE (Details Textual)	6 Months Ended
	Jun. 30, 2015 shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted Average Number of Shares Outstanding, Basic and Diluted	519,600

XML

BUSINESS SEGMENT DATA (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Combination Segment Allocation [Line Items]
Sales to Unaffiliated Customers.	$ 2,479,127	$ 2,677,310	$ 5,170,884	$ 5,740,382
Candied Fruit [Member]
Business Combination Segment Allocation [Line Items]
Sales to Unaffiliated Customers.	302,841	447,667	1,307,129	1,228,597
Molded Plastics [Member]
Business Combination Segment Allocation [Line Items]
Sales to Unaffiliated Customers.	$ 2,176,286	$ 2,229,643	$ 3,863,755	$ 4,511,785

XML

SUBSEQUENT EVENT (Details Textual) - Jul. 31, 2015 - USD ($)	Total
Line of Credit Facility, Interest Rate Description	LIBOR plus 1.75%
Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 12,000,000
Line of Credit Facility, Borrowing Capacity, Description	On July 31, 2015, Paradise, Inc. renewed its revolving line of credit with SunTrust Banks through July 31, 2017. This renewal provides for a maximum limit of $12 million and a borrowing limit of 80% of the Company’s eligible receivables plus the lessor of $6,000,000 or 50% of the Company’s eligible inventory from January 1 to May 31 and 60% from June 1 to December 31 of each year.
Subsequent Event [Member] | Letter of Credit [Member]
Line of Credit Facility, Current Borrowing Capacity	$ 1,750,000

XML

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (702,695)	$ (210,994)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Depreciation and Amortization	280,729	297,819
Provision for Deferred Income Taxes	0	0
Decrease (Increase) in:
Accounts Receivable	1,777,946	1,479,226
Inventories	(4,996,440)	(5,214,071)
Prepaid Expenses and Other Current Assets	(194,626)	(307,245)
Income Tax Asset	(655,964)	(185,663)
Other Assets	8,205	(103,797)
Increase (Decrease) in:
Accounts Payable	178,260	884,339
Accrued Expense	(613,385)	(601,268)
Net Cash Used in Operating Activities	(4,917,970)	(3,961,654)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Property and Equipment	(498,614)	(71,970)
Net Cash Used in Investing Activities	(498,614)	(71,970)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net Proceeds from Short Term Debt	1,042,709	496,465
Dividends Paid	(57,156)	(57,156)
Net Cash Provided by Financing Activities	985,553	439,309
NET DECREASE IN CASH	(4,431,031)	(3,594,315)
CASH, AT BEGINNING OF PERIOD	7,788,010	5,916,366
CASH, AT END OF PERIOD	3,356,979	2,322,051
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for: Income Taxes	$ 187,500	$ 0

XML

SUBSEQUENT EVENT

6 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 5 SUBSEQUENT EVENT

On July 31, 2015, Paradise, Inc. renewed its revolving line of credit with SunTrust Banks through July 31, 2017. This renewal provides for a maximum limit of $12 million and a borrowing limit of 80% of the Company’s eligible receivables plus the lessor of $6,000,000 or 50% of the Company’s eligible inventory from January 1 to May 31 and 60% from June 1 to December 31 of each year. Within this agreement are letters of credit with a limit of $1,750,000. The agreement is secured by all of the assets of the Company and requires that certain conditions are met for the Company to continue borrowing, including debt service coverage and debt to equity ratios and other financial covenants including an agreement not to encumber a mortgage on the property without bank approval.  Interest is payable monthly at the bank’s LIBOR plus 1.75%.