$BABB
BAB, INC.

2016 Q2 Form 10-Q Financial Statement

#000143774916035202 Filed on July 13, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $564.4K $567.8K
YoY Change -0.59% -26.2%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $360.0K $390.0K
YoY Change -7.69% 0.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $432.5K $448.3K
YoY Change -3.51% -6.94%
Operating Profit $131.9K $119.5K
YoY Change 10.4% -58.46%
Interest Expense $397.00 $775.00
YoY Change -48.77% -31.84%
% of Operating Profit 0.3% 0.65%
Other Income/Expense, Net
YoY Change
Pretax Income $131.7K $119.2K
YoY Change 10.49% -58.42%
Income Tax
% Of Pretax Income
Net Earnings $131.7K $119.2K
YoY Change 10.49% -56.13%
Net Earnings / Revenue 23.32% 20.99%
Basic Earnings Per Share $0.02 $0.02
Diluted Earnings Per Share $0.02 $0.02
COMMON SHARES
Basic Shares Outstanding 7.264M 7.264M
Diluted Shares Outstanding 7.264M 7.264M

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $740.0K $690.0K
YoY Change 7.25% 13.11%
Cash & Equivalents $744.7K $690.4K
Short-Term Investments
Other Short-Term Assets $590.0K $360.0K
YoY Change 63.89% -34.55%
Inventory $30.00K $20.00K
Prepaid Expenses
Receivables $90.00K $142.6K
Other Receivables $30.00K $30.00K
Total Short-Term Assets $1.483M $1.249M
YoY Change 18.76% -12.65%
LONG-TERM ASSETS
Property, Plant & Equipment $2.254K $4.431K
YoY Change -49.13% -55.69%
Goodwill $1.494M $1.494M
YoY Change 0.0%
Intangibles $455.2K $455.2K
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $250.0K $250.0K
YoY Change 0.0% 0.0%
Total Long-Term Assets $2.217M $2.232M
YoY Change -0.65% -0.8%
TOTAL ASSETS
Total Short-Term Assets $1.483M $1.249M
Total Long-Term Assets $2.217M $2.232M
Total Assets $3.701M $3.481M
YoY Change 6.31% -5.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.59K $22.21K
YoY Change -29.79% -25.97%
Accrued Expenses $300.0K $310.0K
YoY Change -3.23% 6.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $33.41K $31.90K
YoY Change 4.75% 6.33%
Total Short-Term Liabilities $1.020M $788.5K
YoY Change 29.33% 17.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $33.41K
YoY Change -100.0% -52.27%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $33.41K
YoY Change -100.0% -52.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.020M $788.5K
Total Long-Term Liabilities $0.00 $33.41K
Total Liabilities $1.020M $821.9K
YoY Change 24.1% 11.07%
SHAREHOLDERS EQUITY
Retained Earnings -$11.59M -$11.61M
YoY Change -0.19%
Common Stock $13.51M $13.51M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $222.8K $222.8K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $2.681M $2.659M
YoY Change
Total Liabilities & Shareholders Equity $3.701M $3.481M
YoY Change 6.31% -5.4%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $131.7K $119.2K
YoY Change 10.49% -56.13%
Depreciation, Depletion And Amortization $10.00K $10.00K
YoY Change 0.0% 0.0%
Cash From Operating Activities $90.00K $160.0K
YoY Change -43.75% -27.27%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -70.00K -70.00K
YoY Change 0.0% 0.0%
NET CHANGE
Cash From Operating Activities 90.00K 160.0K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -70.00K -70.00K
Net Change In Cash 20.00K 90.00K
YoY Change -77.78% -40.0%
FREE CASH FLOW
Cash From Operating Activities $90.00K $160.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q2 babb Deferred Franchise Feerevenue
DeferredFranchiseFeerevenue
100000
CY2015Q4 babb Deferred Franchise Feerevenue
DeferredFranchiseFeerevenue
105000
CY2016Q2 babb Deferred Licensingrevenue
DeferredLicensingrevenue
38095
CY2015Q4 babb Deferred Licensingrevenue
DeferredLicensingrevenue
32083
CY2016Q2 babb Deferred Marketing Contributionrevenue
DeferredMarketingContributionrevenue
530086
CY2015Q4 babb Deferred Marketing Contributionrevenue
DeferredMarketingContributionrevenue
442105
babb Increase Decrease In Unexpended Marketing Contributions
IncreaseDecreaseInUnexpendedMarketingContributions
87981
babb Increase Decrease In Unexpended Marketing Contributions
IncreaseDecreaseInUnexpendedMarketingContributions
96433
babb Increase Decrease Marketing Contributionsreceivable1
IncreaseDecreaseMarketingContributionsreceivable1
6253
babb Increase Decrease Marketing Contributionsreceivable1
IncreaseDecreaseMarketingContributionsreceivable1
2837
CY2016Q2 babb Marketing Contributions Receivable Fromfranchisees
MarketingContributionsReceivableFromfranchisees
27364
CY2015Q4 babb Marketing Contributions Receivable Fromfranchisees
MarketingContributionsReceivableFromfranchisees
21111
CY2016Q2 babb Number Of Wholly Owned Subsidiaries
NumberOfWhollyOwnedSubsidiaries
3
CY2016Q2 babb Share Based Compensation Arrangement By Share Based Payment Award Options Exercises And Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesAndForfeituresInPeriod
1225000
CY2016Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
302622
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
311916
CY2016Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
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CY2015Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
13055
CY2016Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2015Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
75079
CY2016Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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151306
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
150083
CY2016Q2 us-gaap Additional Paid In Capital
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CY2015Q4 us-gaap Additional Paid In Capital
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CY2016Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
33077
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
175000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
175000
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
257500
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
257500
CY2016Q2 us-gaap Assets
Assets
3700822
CY2015Q4 us-gaap Assets
Assets
3688347
CY2016Q2 us-gaap Assets Current
AssetsCurrent
1483399
CY2015Q4 us-gaap Assets Current
AssetsCurrent
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CY2016Q2 us-gaap Assets Noncurrent
AssetsNoncurrent
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CY2015Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
837382
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
709555
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
744726
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
690397
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-92656
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-19158
CY2016Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.01
CY2016Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.01
CY2015Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.02
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2016Q2 us-gaap Common Stock Value
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CY2015Q4 us-gaap Common Stock Value
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CY2002Q3 us-gaap Debt Instrument Face Amount
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CY2002Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0475
CY2002Q3 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
35000
CY2002Q3 us-gaap Debt Instrument Term
DebtInstrumentTerm
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DeferredTaxAssetsNetNoncurrent
248000
CY2015Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
248000
CY2016Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2015Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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us-gaap Depreciation And Amortization
DepreciationAndAmortization
10016
us-gaap Depreciation And Amortization
DepreciationAndAmortization
8527
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-126451
us-gaap Income Taxes Paid
IncomeTaxesPaid
us-gaap Income Taxes Paid
IncomeTaxesPaid
2000
us-gaap Increase Decrease In Accounts And Notes Receivable
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-45720
us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
12126
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10016
us-gaap Depreciation Depletion And Amortization
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">7. Recent Accounting Pronouncements </div></div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Revenue from Contracts with Customers, ASU 2014-09 establishes a comprehensive revenue recognition standard for virtually all industries in U.S. GAAP, including those that previously followed industry-specific guidance such as the real estate, construction and software industries. The revenue standard&#x2019;s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled. The standard requires five basic steps: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, (v) recognize revenue when (or as) the entity satisfies a performance obligation. Entities will generally be required to make more estimates and use more judgment than under current guidance, which will be highlighted for users through increased disclosure requirements. The ASU is effective for the Company, for annual periods beginning after December 15, 2017. The Company will adopt ASU 2014-09 for fiscal year ending November 30, 2019 and the Company is evaluating the impact that adoption of this guidance might have on the Company&#x2019;s consolidated financial position, cash flows or results of operations. </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">On February 25, 2016, the FASB issued ASU 2016-02, a leasing standard for both lessees and lessors. Under its core principle, a lessee will recognize lease assets and liabilities on the balance sheet for all arrangements with terms longer than 12 months. Lessor accounting remains largely consistent with existing U.S. GAAP. The amendments are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company intends to adopt ASU 2016-02 for fiscal year ending November 30, 2020 and the Company is evaluating the impact that adoption of this guidance might have on the Company&#x2019;s consolidated financial position, cash flows and results and operations. </div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Management does not believe that there are any other recently issued and effective or not yet effective pronouncements as of May 31, 2016 that would have or are expected to have any significant effect on the Company&#x2019;s financial position, cash flows or results of operations.</div></div></div>
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.03
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2016Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
33064
CY2015Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
38097
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
77355
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
74323
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FiniteLivedIntangibleAssetsAccumulatedAmortization
105183
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
96389
CY2016Q2 us-gaap Finite Lived Intangible Assets Net
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18216
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
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22987
CY2016Q2 us-gaap Franchise Revenue
FranchiseRevenue
3000
CY2015Q2 us-gaap Franchise Revenue
FranchiseRevenue
25000
us-gaap Franchise Revenue
FranchiseRevenue
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us-gaap Franchise Revenue
FranchiseRevenue
30000
CY2016Q2 us-gaap Goodwill
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1493771
CY2015Q4 us-gaap Goodwill
Goodwill
1493771
CY2016Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2016Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
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CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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131652
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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119154
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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220777
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Increase Decrease In Accounts Payable
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2539
us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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-9294
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
6322
us-gaap Increase Decrease In Deferred Revenue
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1012
us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Inventories
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-583
us-gaap Increase Decrease In Inventories
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-1749
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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8810
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Restricted Cash
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81728
us-gaap Increase Decrease In Restricted Cash
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CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2015Q2 us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Interest Paid
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us-gaap Interest Paid
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CY2015Q2 us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
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CY2016Q2 us-gaap Liabilities Current
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CY2015Q4 us-gaap Liabilities Current
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CY2016Q2 us-gaap Licenses Revenue
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CY2015Q2 us-gaap Licenses Revenue
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us-gaap Licenses Revenue
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270704
us-gaap Licenses Revenue
LicensesRevenue
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CY2016Q2 us-gaap Litigation Settlement Expense
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CY2015Q2 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
us-gaap Litigation Settlement Expense
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CY2015Q4 us-gaap Long Term Debt Current
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CY2016Q2 us-gaap Long Term Notes Payable
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CY2016Q2 us-gaap Marketing And Advertising Expense
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CY2015Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
16824
us-gaap Marketing And Advertising Expense
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us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">9. Contingencies</div></div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We are subject to various legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of business. While the outcome of such proceedings or claims cannot be predicted with certainty, management does not believe that the outcome of any of such proceedings or claims will have a material effect on our financial position. Except as stated below, we know of no pending or threatened proceeding or claim to which we are or will be a party. </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company had previously reported that on July 8, 2013, a judgment was entered in the Circuit Court of Cook County against BAB Operations, Inc. (&#x201c;Operations&#x201d;), a wholly owned subsidiary of BAB, Inc., and in favor of a former landlord of Operations, Alecta Real Estate USA, LLC.&nbsp; In September 2013 the Company filed an appeal. On March 23, 2015 the Appellate Court ruled in favor of the plaintiff and against Operations, affirming the trial court&#x2019;s judgment. The legal settlement was accrued in the first quarter 2015 and payment was made in the second quarter 2015 and it includes the judgment, attorney&#x2019;s fees and interest.&nbsp;</div></div></div>
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
420739
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
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-11591498
us-gaap Net Income Loss
NetIncomeLoss
220777
us-gaap Net Income Loss
NetIncomeLoss
-126451
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
131652
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Note 1. Nature of Operations </div></div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">BAB, Inc. (&#x201c;the Company&#x201d;) has three wholly owned subsidiaries: BAB Systems, Inc. (&#x201c;Systems&#x201d;), BAB Operations, Inc. (&#x201c;Operations&#x201d;) and BAB Investments, Inc (&#x201c;Investments&#x201d;). Systems was incorporated on December 2, 1992, and was primarily established to franchise Big Apple Bagels&reg; (&#x201c;BAB&#x201d;) specialty bagel retail stores. My Favorite Muffin (&#x201c;MFM&#x201d;), was acquired in 1997 and is included as a part of Systems. Brewster&#x2019;s&reg; Coffee (&#x201c;Brewster&#x2019;s&#x201d;) was established in 1996 and the coffee is sold in BAB and MFM locations as well as through license agreements. SweetDuet&reg; (&#x201c;SD&#x201d;) frozen yogurt can be added as an additional brand in a BAB or MFM location. Operations was formed on August 30, 1995, primarily to operate Company-owned stores of which there are currently none. The assets of Jacobs Bros. Bagels&reg; (&#x201c;Jacobs Bros.&#x201d;) were acquired on February 1, 1999, and any branded wholesale business uses this trademark. Investments was incorporated September 9, 2009 to be used for the purpose of acquisitions. To date, there have been no acquisitions. </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company was incorporated under the laws of the State of Delaware on July 12, 2000.&nbsp; The Company currently franchises and licenses bagel and muffin retail units under the BAB and MFM and SD trade names. At May 31, 2016, the Company had 83 franchise units and 3 licensed units in operation in 24 states and one international location. The Company additionally derives income from the sale of its trademark bagels, muffins and coffee through nontraditional channels of distribution including under licensing agreements with Kohr Bros. Frozen Custard and Green Beans Coffee. Also, included in licensing fees and other income is Operations Sign Shop results. For franchise consistency and convenience, the Sign Shop provides the majority of signage to franchisees, including but not limited to, menu panels, build charts, interior and exterior signage and point of purchase materials.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The BAB franchised brand consists of units operating as &#x201c;Big Apple Bagels&reg;,&#x201d; featuring daily baked bagels, flavored cream cheeses, premium coffees, gourmet bagel sandwiches and other related products. Licensed BAB units serve the Company's frozen bagel and related products baked daily.&nbsp; BAB units are primarily concentrated in the Midwest and Western United States. The MFM brand consists of units operating as &quot;My Favorite Muffin&reg;,&quot; featuring a large variety of freshly baked muffins, coffees and related products, and units operating as &quot;My Favorite Muffin and Bagel Cafe&reg;,&quot; featuring these products as well as a variety of specialty bagel sandwiches and related products.&nbsp; The SweetDuet Frozen Yogurt &amp; Gourmet Muffins&reg; brand is a fusion concept, pairing self-serve frozen yogurt with MFM&#x2019;s exclusive line of My Favorite Muffin gourmet muffins. SD frozen yogurt can be added as an additional brand in a BAB or MFM location. Although the Company doesn't actively market Brewster's stand-alone franchises, Brewster's coffee products are sold in most franchised units. &nbsp;&nbsp;&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company is leveraging on the natural synergy of distributing muffin products in existing BAB units and, alternatively, bagel products and Brewster's Coffee in existing MFM units. The Company expects to continue to realize efficiencies in servicing the combined base of BAB and MFM franchisees.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The accompanying condensed consolidated financial statements are unaudited. These financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted pursuant to such SEC rules and regulations; nevertheless, the Company believes that the disclosures are adequate to make the information presented not misleading.&nbsp; These financial statements and the notes hereto should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended November 30, 2015 which was filed February 24, 2016.&nbsp; In the opinion of the Company's management, the condensed consolidated financial statements for the unaudited interim period presented include all adjustments, including normal recurring adjustments, necessary to fairly present the results of such interim period and the financial position as of the end of said period. The results of operations for the interim period are not necessarily indicative of the results for the full year.</div></div></div>
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