Company Quick10K Filing
Rocky Mountain Chocolate
10-Q 2019-11-30 Filed 2020-01-14
10-Q 2019-08-31 Filed 2019-10-11
10-Q 2019-05-31 Filed 2019-07-15
10-K 2019-02-28 Filed 2019-05-29
10-Q 2018-11-30 Filed 2019-01-14
10-Q 2018-08-31 Filed 2018-10-15
10-Q 2018-05-31 Filed 2018-07-13
10-K 2018-02-28 Filed 2018-05-15
10-Q 2017-11-30 Filed 2018-01-12
10-Q 2017-08-31 Filed 2017-10-10
10-Q 2017-05-31 Filed 2017-07-07
10-K 2017-02-28 Filed 2017-05-23
10-Q 2016-11-30 Filed 2017-01-13
10-Q 2016-08-31 Filed 2016-10-12
10-Q 2016-05-31 Filed 2016-07-14
10-K 2016-02-29 Filed 2016-05-23
10-Q 2015-11-30 Filed 2016-01-14
10-Q 2015-08-31 Filed 2015-10-15
10-Q 2015-05-31 Filed 2015-07-15
10-K 2015-02-28 Filed 2015-05-27
8-K 2020-05-11 Regulation FD, Exhibits
8-K 2020-04-20 Other Events
8-K 2020-04-13 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2020-03-17 Enter Agreement, Regulation FD, Exhibits
8-K 2020-03-16 Off-BS Arrangement, Other Events
8-K 2020-02-18 Regulation FD, Exhibits
8-K 2020-01-13 Earnings, Exhibits
8-K 2020-01-09 Shareholder Vote
8-K 2019-12-30 Officers
8-K 2019-12-20 Enter Agreement, Sale of Shares, Shareholder Rights, Regulation FD, Exhibits
8-K 2019-12-06 Amend Bylaw, Exhibits
8-K 2019-12-03 Enter Agreement, Exhibits
8-K 2019-11-14 Regulation FD, Exhibits
8-K 2019-10-10 Earnings, Exhibits
8-K 2019-09-30 Enter Agreement, Off-BS Arrangement
8-K 2019-08-23
8-K 2019-08-16 Regulation FD, Exhibits
8-K 2019-07-12 Earnings, Exhibits
8-K 2019-05-29 Earnings, Exhibits
8-K 2019-05-28 Regulation FD, Exhibits
8-K 2019-02-26 Officers
8-K 2019-02-14 Regulation FD, Exhibits
8-K 2019-01-11 Earnings, Exhibits
8-K 2018-11-14
8-K 2018-11-13 Regulation FD, Exhibits
8-K 2018-10-11 Earnings, Exhibits
8-K 2018-10-03 Accountant, Exhibits
8-K 2018-08-17 Shareholder Vote
8-K 2018-08-16 Regulation FD, Exhibits
8-K 2018-07-12 Earnings, Exhibits
8-K 2018-05-10 Earnings, Regulation FD, Exhibits
8-K 2018-02-15 Regulation FD, Exhibits
8-K 2018-01-12 Earnings, Exhibits

Rocky Mountain Chocolate Financials

RMCF Metrics, Comps, Filings

Quarterly | Annual

Business

Rocky Mountain Chocolate Factory, Inc., a Delaware corporation, and its subsidiaries (collectively, the “Company,” “we,” “us,” or “our”), including its operating subsidiary with the same name, Rocky Mountain Chocolate Factory, Inc., a Colorado corporation (“RMCF”), is an international franchisor, confectionery manufacturer and retail operator. Founded in 1981, we are headquartered in Durango, Colorado and manufacture an extensive line of premium chocolate candies and other confectionery products. Our wholly-owned subsidiary, U-Swirl International, Inc. (“U-Swirl”), franchises and operates self-serve frozen yogurt cafés. Our revenues and profitability are derived principally from our franchised/license system of retail stores that feature chocolate, frozen yogurt and other confectionary products. We also sell our candy in selected locations outside of our system of retail stores and license the use of our brand with certain consumer products. As of March 31, 2019, there were two Company-owned, 90 licensee-owned and 245 franchised Rocky Mountain Chocolate Factory stores operating in 37 states, Canada, South Korea, Panama, and the Philippines. As of March 31, 2019, U-Swirl operated four Company-owned cafés, 68 franchised cafés and 30 licensed locations located in 26 states and Qatar. U-Swirl operates self-serve frozen yogurt cafés under the names “U-Swirl,” “Yogurtini,” “CherryBerry,” “Yogli Mogli Frozen Yogurt,” “Fuzzy Peach Frozen Yogurt,” “Let's Yo!” and “Aspen Leaf Yogurt”. The Company was incorporated in Delaware in 2014 in connection with its holding company reorganization.

In January 2013, through our wholly-owned subsidiaries, including Aspen Leaf Yogurt, LLC (“ALY”), we entered into two agreements to sell all of the assets of our ALY frozen yogurt stores, along with our interest in the self-serve frozen yogurt franchises and retail units branded as “Yogurtini,” which we also acquired in January 2013, to U-Swirl, Inc. (“SWRL”), in exchange for a 60% controlling equity interest in SWRL (46% equity interest as of February 28, 2019). Upon completion of these transactions, we ceased to directly operate any Company-owned ALY locations or sell and support frozen yogurt franchise locations, which were being supported by SWRL. The SWRL Board of Directors is composed solely of board members also serving on our Board of Directors.

In fiscal year (“FY”) 2014, SWRL acquired the franchise rights and certain other assets of self-serve frozen yogurt concepts under the names “CherryBerry,” “Yogli Mogli Frozen Yogurt” and “Fuzzy Peach Frozen Yogurt.” In connection with these acquisitions, we entered into a credit facility with Wells Fargo Bank, N.A. used to finance the acquisitions by SWRL, and in turn, we entered into a loan and security agreement with SWRL to cover the purchase price and other costs associated with the acquisitions (the “SWRL Loan Agreement”). Borrowings under the SWRL Loan Agreement were secured by all of the assets of SWRL, including all of the outstanding stock of its wholly-owned subsidiary, U-Swirl. As a result of certain defaults under the SWRL Loan Agreement, we issued a demand for payment of all obligations under the SWRL Loan Agreement. SWRL was unable to repay the obligations under the SWRL Loan Agreement, and as a result, we foreclosed on all of the outstanding stock of U-Swirl on February 29, 2016 in full satisfaction of the amounts owed under the SWRL Loan Agreement. This resulted in U-Swirl becoming our wholly-owned subsidiary as of February 29, 2016, and concurrently we ceased to have financial control of SWRL as of February 29, 2016. As of February 28, 2019, SWRL had no operating assets.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
J&J Snack Foods (JJSF) 3,645,626 30% 19.7 9% 1,019,339 185,588 1,186,487 350,401 94,819 175,187 3,453,231
Tootsie Roll (TR) 2,396,951 38% 25.2 6% 982,092 223,952 391,653 147,213 62,540 91,578 2,309,182
John B Sanfilippo & Son (JBSS) 1,087,202 19% 14.4 12% 393,222 159,172 889,759 167,564 45,786 77,226 1,112,025
Bridgford Foods (BRID) 311,335 34% 45.4 4% 120,234 49,353 129,321 43,470 5,201 6,965 315,978
Alkaline Water (WTER) 65,965 40% -4.2 -88% 16,628 9,485 36,277 14,515 -14,573 -14,079 59,094
Arcimoto (FUV) 63,084 -60% -6.4 -94% 11,693 10,119 44 -27 -11,013 -9,848 63,170
Fuling Global (FORK) 59,866 0% 122,640 57,906 0 0 0 0 60,272
Lifeway Foods (LWAY) 59,734 24% 28.1 -1% 57,786 15,650 70,497 17,039 -601 1,930 54,222
Rocky Mountain Chocolate (RMCF) 56,111 36% 10.9 8% 29,548 8,932 34,605 12,289 2,373 4,704 51,045
Tandy Leather Factory (TLF) 53,880 60% 8.3 2% 72,368 12,677 83,594 50,188 1,559 4,987 41,201
JAKKS Pacific (JAKK) 48,879 27% -2.0 -8% 479,641 457,422 578,464 153,431 -38,510 -11,941 23,529
Amcon Distributing (DIT) 47,720 6% 5.3 2% 157,712 96,955 1,392,388 84,023 3,203 9,567 51,040
Deswell Industries (DSWL) 47,656 0% 100,169 15,546 0 0 0 0 33,285
Core Molding Technologies (CMT) 46,814 8% -61.8 -7% 195,038 105,119 301,330 24,621 -13,703 -1,726 106,725
Eastside Distilling (EAST) 46,346 35% -6.3 -25% 37,738 23,942 12,685 4,424 -9,436 -7,967 50,382
Rave Restaurant Group (RAVE) 45,065 91% -252.3 -5% 13,438 8,705 12,204 11,109 -621 -169 42,644
Reed's (REED) 43,836 27% -3.8 -73% 16,901 19,109 26,669 7,279 -12,289 -11,330 42,820
Cosan (CZZ) 0% 56,360,716 38,391,360 0 0 0 0 -115,124
Hershey (HSY) 46% 1.6 15% 8,464,260 6,702,669 7,906,029 3,654,918 1,279,727 1,836,239 2,942,614

Balance Sheet ($'000)2015-02-282015-05-312015-08-312015-11-302016-02-292016-05-312016-08-312016-11-302017-02-282017-05-312017-08-312017-11-302018-02-282018-05-312018-08-312018-11-302019-02-282019-05-31
Cash7,1578,3685,9115,1546,1956,1024,8774,5965,7797,6415,7444,0676,0736,3035,1734,2125,3845,896
Accounts Receivable4,2913,4893,4284,1073,8003,0663,5364,3923,8562,7372,9594,9913,8973,2023,4584,9023,9933,877
Inventory4,7853,8694,5465,0714,8404,9405,5135,4554,9764,8366,1495,6874,8425,2196,0105,6784,2704,016
PP&E18,82718,84018,19118,50218,18818,78718,96618,64018,84918,95418,88019,03619,11318,75617,92018,12218,19718,458
Assets34,13833,29231,53531,53430,31630,17929,90030,12329,41829,83129,45529,33328,94128,13827,53027,56726,22229,548
Accounts Payable1,6761,5121,8091,8521,6631,7231,8761,7351,8201,8871,6851,4931,6481,4251,3511,5048971,126
Long-Term Debt6,2925,9935,6945,3915,0854,7754,4644,1493,8323,5103,1862,8592,5292,1951,8591,5191,176830
Liabilities14,40014,03813,43813,36111,83711,64411,18710,96710,58910,7569,9709,6729,3847,6316,8626,9845,8328,932
Stockholders' Equity19,73819,25418,09718,17318,47918,53418,71319,15518,82919,07419,48419,66119,55720,50720,66920,58320,39020,617
Income Statement ($'000)2015-02-282015-05-312015-08-312015-11-302016-02-292016-05-312016-08-312016-11-302017-02-282017-05-312017-08-312017-11-302018-02-282018-05-312018-08-312018-11-302019-02-282019-05-31
Revenue11,16710,3649,2759,80711,0119,3768,6029,95510,3639,3468,2679,96210,5008,3667,8008,9509,4308,426
Cost of Revenue8,1625,1644,0815,2036,0144,6993,9245,5446,3625,0153,8526,0406,2694,6653,8845,7006,3504,615
Gross Profit3,0055,2005,1934,6042,8674,6774,6784,4111,9234,3314,4143,9222,2773,7013,9163,2491,3123,811
R&D
SG&A1,9641,7381,6811,7471,8941,6441,5221,6031,7551,5431,4201,6761,5031,3791,3801,3821,701
Tax432826439-2,149415547572342452714765605188275142112232
Net Income1,3879331,2407742,4427329751,012732814928751471577751525386712
Cash Flow ($'000)2015-02-282015-05-312015-08-312015-11-302016-02-292016-05-312016-08-312016-11-302017-02-282017-05-312017-08-312017-11-302018-02-282018-05-312018-08-312018-11-302019-02-282019-05-31
Cash Operating3,3656372,1831,8952588432,3242,909-7213,1101,374142,3161,828
Cash Investing-109-244-833-232-107-23-150-65-102-99-87-255
Cash Financing-2,045-1,149-1,156-1,251-1,017-1,024-1,026-1,038-1,043-1,045-1,057-1,062