2024 Q2 - Quarterly Report

UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION WASHINGTON,D.C.20549 FORM10-Q oQUARTERLYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 FORTHEQUARTERLYPERIODENDEDApril30,2024OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 FORTHETRANSITIONPERIODFROMTO COMMISSIONFILENUMBER:001-32491 COFFEEHOLDINGCO.,INC. (ExactNameofRegistrantasSpecifiedinItsCharter) Nevada11-2238111 (Stateorotherjurisdictionofincorporationororganization) (I.R.S.EmployerIdentificationNo.) 3475VictoryBoulevard,StatenIsland,NewYork10314 (Addressofprincipalexecutiveoffices)(ZipCode) (718)832-0800 (Registrant’stelephonenumber,includingareacode) (Formername,formeraddressandformerfiscalyear,ifchangedsincelastreport)SecuritiestoberegisteredpursuanttoSection12(b)oftheAct:None SecuritiestoberegisteredpursuanttoSection12(g)oftheAct: Titleofeachclass CommonStock,parvalue$0.001pershare TradingSymbol(s) JVA Nameofeachexchangeonwhichregistered TheNasdaqCapitalMarket Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.Yes☒No☐ IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles).Yes☒No☐ Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,smallerreportingcompany,oranemerginggrowthcompany.Seethedefinitionsof“largeacceleratedfiler,”“acceleratedfiler,”“smallerreportingcompany,”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct. Largeacceleratedfiler☐Acceleratedfiler☐ Non-acceleratedfiler ☒ Smallerreportingcompany ☒ Emerginggrowthcompany ☐ Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.☐ Indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheExchangeAct).Yes☐No☒ Indicatethenumberofsharesoutstandingofeachoftheissuer’sclassesofcommonstockasofthelatestpracticabledate. 5,708,599sharesofcommonstock,parvalue$0.001pershare,areoutstandingatJune10,2024. TABLEOFCONTENTS PAGE PARTI FINANCIALINFORMATION F-1 ITEM1. UnauditedCondensedConsolidatedFinancialStatements F-1 UnauditedCondensedConsolidatedBalanceSheetsasofApril30,2024andOctober31,2023 F-1 UnauditedCondensedConsolidatedStatementsofOperationsforthethreeandsixmonthsendedApril30,2024,and2023 F-2 UnauditedCondensedConsolidatedStatementsofChangesinStockholders’EquityforthethreeandsixmonthsendedApril30,2024,and2023 F-3 UnauditedCondensedConsolidatedStatementsofCashFlowsforthesixmonthsendedApril30,2024,and2023 F-4 NotestotheUnauditedCondensedConsolidatedFinancialStatements F-5 ITEM2. Management’sDiscussionandAnalysisofFinancialConditionandResultsofOperations 1 ITEM3. QuantitativeandQualitativeDisclosuresAboutMarketRisk 7 ITEM4. ControlsandProcedures 7 PARTII OTHERINFORMATION 9 ITEM1. LegalProceedings 9 ITEM1A. RiskFactors 9 ITEM2. UnregisteredSalesofEquitySecuritiesandUseofProceeds 9 ITEM3. DefaultsUponSeniorSecurities 9 ITEM4. MineSafetyDisclosures 9 ITEM5. OtherInformation 9 ITEM6. Exhibits 9 SIGNATURES10 PARTI.FINANCIALINFORMATION COFFEEHOLDINGCO.,INC.CONDENSEDCONSOLIDATEDBALANCESHEETS (UNAUDITED) April30,2024October31,2023 ASSETS CURRENTASSETS: Cashandcashequivalents $2,427,689 $2,733,977 Accountsreceivable,netofallowancesof$144,000for2024and2023 7,393,037 7,983,032 Receivablefromsaleofinvestment — 3,150,000 Inventories 15,512,363 18,986,539 Duefrombroker 918,485 345,760 Prepaidexpensesandothercurrentassets 337,601 413,752 Prepaidandrefundableincometaxes 379,275 365,876 TOTALCURRENTASSETS 26,968,450 33,978,936 Building,machinery,andequipment,net 3,427,067 3,494,450 Customerlistandrelationships,netofaccumulatedamortizationof$270,500and$310,383for2024and2023,respectively 169,500 184,750 Trademarksandtradenames 327,000 327,000 Equitymethodinvestments 39,676 39,676 Rightofuseasset 2,572,703 2,696,159 Deferredincometaxassets,net 1,276,702 1,341,407 Depositsandotherassets 141,529 129,523 TOTALASSETS $34,922,627 $42,191,901 LIABILITIESANDSTOCKHOLDERS’EQUITY CURRENTLIABILITIES: Accountspayableandaccruedexpenses $4,223,661 $5,206,442 Lineofcredit 3,000,000 9,620,000 Duetobroker 394,430 292,407 Notepayable-currentportion — 4,200 Leaseliability-currentportion 627,209 255,625 TOTALCURRENTLIABILITIES 8,245,300 15,378,674 Notepayable,netofcurrent 4,325 3,034 Leaseliabilities,netofcurrent 2,501,749 2,974,579 Deferredcompensationpayable 126,979 120,523 TOTALLIABILITIES 10,878,353 18,476,810 CommitmentsandContingenciesSTOCKHOLDERS’EQUITY: CoffeeHoldingCo.,Inc.stockholders’equity:Preferredstock