Rocky Mountain Chocolate Factory Inc
For the period ended Feb 29, 2024. Filed Jun 13, 2024.
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FY2024 · Filed Jun 13, 2024
RMCF$0.81-1.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| FOR THE YEARS ENDED FEBRUARY 29 or 28, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash Flows From Operating Activities | |||
| Net Loss | $(4,171,883) | $(5,680,778) | $(341,697) |
| Less: Net Income (Loss) from discontinued operations, net of tax | 703,834 | (192,422) | 158,020 |
| Net Loss from continuing operations | (4,875,717) | (5,488,356) | (499,717) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 887,299 | 765,263 | 740,175 |
| Provision for obsolete inventory | 188,786 | 732,499 | 384,473 |
| Provision for loss (recovery) on accounts and notes receivable | (402,117) | (277,000) | - |
| Asset impairment and store closure losses | — | 84,183 | - |
| Loss (gain) on sale or disposal of property and equipment | (37,002) | 11,958 | (159,129) |
| Expense recorded for stock compensation | 437,829 | 651,016 | 1,073,115 |
| Deferred income taxes | — | 722,163 | (267,576) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 227,053 | 82,050 | 46,311 |
| Refundable income taxes | 298,916 | 391,643 | 37,999 |
| Inventories | (878,771) | (70,069) | (581,433) |
| Other current assets | (101,466) | (7,246) | (122,647) |
| Accounts payable | 974,769 | 661,111 | 200,557 |
| Accrued liabilities | 999,483 | (1,163,216) | 1,332,993 |
| Contract liabilities | (114,767) | 5,384 | 26,321 |
| Net cash (used in) provided by operating activities of continuing operations | (2,395,705) | (2,898,617) | 2,211,442 |
| Net cash provided by (used in) operating activities of discontinued operations | (39,242) | 796,126 | 646,712 |
| Net cash (used in) provided by operating activities | (2,434,947) | (2,102,491) | 2,858,154 |
| Cash Flows from Investing Activities | |||
| Addition to notes receivable | (135,955) | (64,621) | - |
| Proceeds received on notes receivable | 163,989 | 62,411 | 109,809 |
| Proceeds from insurance recovery | - | - | 206,336 |
| Proceeds from the sale or distribution of assets | 112,131 | 27,289 | 2,693 |
| Purchases of property and equipment | (3,017,473) | (1,000,015) | (941,327) |
| Other | 9,463 | 10,000 | (10,000) |
| Net cash used in investing activities of continuing operations | (2,867,845) | (964,936) | (632,489) |
| Net cash provided by investing activities of discontinued operations | 1,417,738 | 197,121 | 27,491 |
| Net cash used in investing activities | (1,450,107) | (767,815) | (604,998) |
| Cash Flows from Financing Activities | |||
| Repurchase of common stock through net settlement of restricted stock units | - | - | (237,785) |
| Proceeds from line of credit | 1,250,000 | - | - |
| Dividends paid and redemption of outstanding preferred stock purchase rights | - | - | (61,276) |
| Net cash (used in) provided by financing activities of discontinued operations | - | - | - |
| Net cash provided by (used in) financing activities | 1,250,000 | - | (299,061) |
| Net Increase (Decrease) in Cash and Cash Equivalents | (2,635,054) | (2,870,306) | 1,954,095 |
| Cash and Cash Equivalents, Beginning of Year | 4,717,068 | 7,587,374 | 5,633,279 |
| Cash and Cash Equivalents, End of Year | $2,082,014 | $4,717,068 | $7,587,374 |
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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