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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Command Center Inc | NASDAQ:CCNI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.90 | 4.51 | 7.20 | 0 | 01:00:00 |
Washington
|
|
91-2079472
|
(State
of other jurisdiction of incorporation or
organization)
|
|
(I.R.S.
Employer Identification No.)
|
3609 S. Wadsworth Blvd., Suite 250
Lakewood, CO
|
|
80235
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
|
Thirteen Weeks
Ended
|
Twenty-six Weeks
Ended
|
||
|
June 30,
2017
|
June 24,
2016
|
June 30,
2017
|
June 24,
2016
|
Revenue
|
$
24,503,660
|
$
21,675,874
|
$
46,851,909
|
$
40,742,446
|
Cost of staffing
services
|
18,010,803
|
16,223,788
|
34,620,818
|
30,577,834
|
Gross
profit
|
6,492,857
|
5,452,086
|
12,231,091
|
10,164,612
|
Selling, general,
and administrative expenses
|
5,164,512
|
5,030,975
|
10,508,119
|
10,211,632
|
Depreciation and
amortization
|
96,277
|
61,712
|
191,827
|
101,045
|
Income (loss) from
operations
|
1,232,068
|
359,399
|
1,531,145
|
(148,065
)
|
Interest expense
and other financing expense
|
1,225
|
24,547
|
1,229
|
52,072
|
Net income (loss)
before income taxes
|
1,230,843
|
334,852
|
1,529,916
|
(200,137
)
|
Provision for
income taxes
|
495,947
|
60,000
|
612,568
|
60,000
|
Net income
(loss)
|
$
734,896
|
$
274,852
|
$
917,348
|
$
(260,137
)
|
|
|
|
|
|
Earnings
per share:
|
|
|
|
|
Basic
|
$
0.01
|
$
0.00
|
$
0.02
|
$
0.00
|
Diluted
|
$
0.01
|
$
0.00
|
$
0.02
|
$
0.00
|
|
|
|
|
|
Weighted
average shares outstanding:
|
|
|
|
|
Basic
|
60,308,111
|
63,558,745
|
60,306,380
|
63,781,844
|
Diluted
|
60,959,626
|
64,317,089
|
61,001,211
|
63,781,844
|
|
Twenty-six Weeks
Ended
|
|
|
June 30,
2017
|
June 24,
2016
|
Cash
flows from operating activities
|
|
|
Net income
(loss)
|
$
917,348
|
$
(260,137
)
|
Adjustments to
reconcile net income to net cash provided by (used in)
operations:
|
|
|
Depreciation and
amortization
|
191,827
|
101,045
|
Bad debt expense,
net of recoveries
|
(542,112
)
|
82,040
|
Stock based
compensation
|
17,787
|
245,812
|
Deferred tax
asset
|
612,568
|
60,000
|
Changes in assets
and liabilities:
|
|
|
Accounts receivable
– trade
|
310,915
|
(1,075,136
)
|
Prepaid
workers’ compensation
|
21,494
|
328,414
|
Prepaid expenses,
deposits, and other
|
(98,440
)
|
(120,529
)
|
Workers’
compensation risk pool deposits
|
6,932
|
242,100
|
Accounts
payable
|
(77,010
)
|
49,661
|
Checks issued and
payable
|
-
|
(101,541
)
|
Other current
liabilities
|
735
|
(181,204
)
|
Accrued wages and
benefits
|
211,902
|
(585,401
)
|
Workers’
compensation premiums and claims liability
|
(638,877
)
|
(554,400
)
|
Net cash provided
by (used in) operating activities
|
935,069
|
(1,769,276
)
|
Cash
flows from investing activities
|
|
|
Cash paid for
acquisition
|
-
|
(1,980,000
)
|
Purchase of
property and equipment
|
(100,547
)
|
(38,525
)
|
Net cash used in
investing activities
|
(100,547
)
|
(2,018,525
)
|
Cash
flows from financing activities
|
|
|
Net change in
account purchase agreement facility
|
222,683
|
(81,365
)
|
Purchase of
treasury stock
|
-
|
(880,167
)
|
Payments on notes
payable
|
-
|
(417,189
)
|
Net cash provided
by (used in) financing activities
|
222,683
|
(1,378,721
)
|
Net
increase (decrease) in cash
|
1,057,205
|
(5,166,522
)
|
Cash
and restricted cash at beginning of period
|
3,047,417
|
7,570,424
|
Cash
and restricted cash at end of period
|
$
4,104,622
|
$
2,403,902
|
|
|
|
Non-cash
investing and financing activities
|
|
|
Common stock issued
for services
|
$
315
|
$
1,700
|
Supplemental
disclosure of cash flow information
|
|
|
Interest
paid
|
$
1,229
|
$
52,072
|
Income taxes
paid
|
$
248,020
|
$
-
|
|
|
|
|
|
Thirteen Weeks
Ended
|
Twenty-six Weeks
Ended
|
||
|
June 30,
2017
|
June 24,
2016
|
June 30,
2017
|
June 24,
2016
|
Weighted average
number of common shares used in basic net income (loss) per common
share
|
60,308,111
|
63,558,745
|
60,306,380
|
63,781,844
|
Dilutive effects of
stock options
|
651,515
|
758,344
|
694,831
|
-
|
Weighted average
number of common shares used in diluted net income (loss) per
common share
|
60,959,626
|
64,317,089
|
61,001,211
|
63,781,844
|
|
|
|
|
|
Assets:
|
|
Current
assets
|
$
587,833
|
Fixed
assets
|
92,220
|
Intangible
assets
|
659,564
|
Goodwill
|
1,277,568
|
|
$
2,617,185
|
Liabilities:
|
|
Current
liabilities
|
637,185
|
Net purchase
price
|
$
1,980,000
|
|
Thirteen
|
Twenty-six
|
|
Weeks
Ended
|
Weeks
Ended
|
|
June 24,
2016
|
June 24,
2016
|
Revenue
|
$
23,610
|
$
44,611
|
|
|
|
Net income before
income tax
|
$
857
|
$
844
|
Income
tax
|
168
|
269
|
Net
income
|
$
689
|
$
575
|
|
June
30,
2017
|
December
30,
2016
|
Goodwill
|
$
3,777,568
|
$
3,777,568
|
Intangible
assets
|
659,564
|
659,564
|
Accumulated
amortization
|
(240,539
)
|
(129,521
)
|
Goodwill and other
intangible assets, net
|
$
4,196,593
|
$
4,307,611
|
|
Number
of
|
Weighted
Average
|
Weighted
Average
|
|
Shares
Under
|
Exercise
Price
|
Grant Date
Fair
|
|
Options
|
Per
Share
|
Value
|
Outstanding
December 30, 2016
|
2,498,000
|
$
0.36
|
$
0.23
|
Expired
|
(318,000
)
|
$
0.41
|
$
0.33
|
Outstanding June
30, 2017
|
2,180,000
|
$
0.36
|
$
0.23
|
|
|
|
|
|
|
Weighted
Average
|
Weighted
Average
|
|
Number
of
|
Exercise
Price
|
Grant Date
Fair
|
|
Options
|
Per
Share
|
Value
|
Non-vested December
30, 2016
|
637,500
|
$
0.40
|
$
0.27
|
Vested
|
(375,000
)
|
$
0.20
|
$
0.16
|
Non-vested June 30,
2017
|
262,500
|
$
0.69
|
$
0.37
|
|
|
|
|
|
|
|
Weighted
Average
|
|
|
|
Weighted
Average
|
Remaining
|
|
|
Number of
Shares
|
Exercise
Price
|
Contractual
Life
|
Aggregate
Intrinsic
|
|
Under
Options
|
Per
Share
|
(years)
|
Value
|
Outstanding
|
2,180,000
|
$
0.36
|
5.26
|
$
240,000
|
Exercisable
|
1,917,500
|
$
0.31
|
5.38
|
$
164,413
|
Options Outstanding
|
Options Exercisable
|
|||
Range of exercise prices
|
Number of Shares Outstanding
|
Weighted Average Contractual Life (years)
|
Number of Shares Exercisable
|
Weighted Average Contractual Life
|
0.20 – 0.41
|
1,500,000
|
5.63
|
1,500,000
|
5.65
|
0.67 – 0.73
|
680,000
|
4.39
|
417,500
|
4.40
|
|
2,180,000
|
5.26
|
1,917,500
|
5.38
|
|
Operating
Lease
|
Year
|
Obligation
|
2017 (6
months)
|
$
415,413
|
2018
|
654,595
|
2019
|
437,282
|
2020
|
234,384
|
2021
|
12,155
|
|
$
1,753,829
|
|
|
|
Thirteen
Weeks Ended
|
Thirteen
Weeks Ended
|
||
|
June
30, 2017
|
June
24, 2016
|
||
Total operating
revenue
|
$
24,504
|
|
$
21,676
|
|
Cost of staffing
services
|
18,011
|
73.5
%
|
16,224
|
74.8
%
|
Gross
Profit
|
6,493
|
26.5
%
|
5,452
|
25.2
%
|
Selling, general,
and administrative expenses
|
5,165
|
21.1
%
|
5,031
|
23.2
%
|
Depreciation and
amortization
|
96
|
0.4
%
|
62
|
0.3
%
|
Income from
operations
|
1,232
|
5.0
%
|
359
|
1.7
%
|
Interest expense
and other financing expense
|
1
|
0.0
%
|
24
|
0.1
%
|
Net income before
taxes
|
1,231
|
5.0
%
|
335
|
1.5
%
|
Provision for
income taxes
|
496
|
2.0
%
|
60
|
0.3
%
|
Net
income
|
$
735
|
3.0
%
|
$
275
|
1.3
%
|
Non-GAAP
data
|
|
|
|
|
EBITDA
|
$
1,328
|
5.4
%
|
$
421
|
1.9
%
|
Adjusted
EBITDA
|
$
1,336
|
5.5
%
|
$
535
|
2.5
%
|
|
Twenty-six
Weeks Ended
|
Twenty-six
Weeks
Ended
|
||
|
June
30 , 2017
|
June
24,
2016
|
||
Total operating
revenue
|
$
46,852
|
|
$
40,742
|
|
Cost of staffing
services
|
34,621
|
73.9
%
|
30,578
|
75.1
%
|
Gross
Profit
|
12,231
|
26.1
%
|
10,164
|
24.9
%
|
Selling, general,
and administrative expenses
|
10,508
|
22.4
%
|
10,211
|
25.1
%
|
Depreciation and
amortization
|
192
|
0.4
%
|
101
|
0.2
%
|
Income (loss) from
operations
|
1,531
|
3.3
%
|
(148
)
|
(0.4
%)
|
Interest expense
and other financing expense
|
1
|
0.0
%
|
52
|
0.1
%
|
Net income (loss)
before taxes
|
1,530
|
3.3
%
|
(200
)
|
(0.5
%)
|
Provision for
income taxes
|
613
|
1.3
%
|
60
|
0.1
%
|
Net income
(loss)
|
$
917
|
2.0
%
|
$
(260
)
|
(0.6
%)
|
Non-GAAP
data
|
|
|
|
|
EBITDA
|
$
1,723
|
3.7
%
|
$
(47
)
|
(0.1
%)
|
Adjusted
EBITDA
|
$
1,741
|
3.7
%
|
$
449
|
1.1
%
|
Exhibit No.
|
|
Description
|
|
Certification
of Frederick Sandford, Chief Executive Officer of Command Center,
Inc. pursuant to Rule 13a-14(a) as adopted pursuant to Section 302
of the Sarbanes-Oxley Act of 2002.
|
|
|
Certification
of Cory Smith, Principal Accounting Officer of Command Center, Inc.
pursuant to Rule 13a-14(a) as adopted pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002.
|
|
|
Certification
of Frederick Sandford, Chief Executive Officer of Command Center,
Inc. pursuant to 18 U.S.C. Section 1350, as adopted in Section 906
of the Sarbanes-Oxley Act of 2002.
|
|
|
Certification
of Cory Smith, Principal Accounting Officer of Command Center, Inc.
pursuant to 18 U.S.C. Section 1350, as adopted in Section 906 of
the Sarbanes-Oxley Act of 2002.
|
|
101.INS
|
|
XBRL
Instance Document
|
101.SCH
|
|
XBRL
Taxonomy Extension Schema Document
|
101.CAL
|
|
XBRL
Taxonomy Extension Calculation Linkbase Document
|
101.DEF
|
|
XBRL
Taxonomy Extension Definition Linkbase Document
|
101.LAB
|
|
XBRL
Taxonomy Extension Label Linkbase Document
|
101.PRE
|
|
XBRL
Taxonomy Extension Presentation Linkbase Document
|
/s/
Frederick Sandford
|
|
President
and CEO
|
|
Frederick
Sandford
|
|
August
14, 2017
|
Signature
|
|
Title
|
|
Printed
Name
|
|
Date
|
|
|
|
|
|
|
|
/s/
Cory Smith
|
|
Principal
Accounting Officer
|
|
Cory
Smith
|
|
August
14, 2017
|
Signature
|
|
Title
|
|
Printed
Name
|
|
Date
|
1 Year Command Center Chart |
1 Month Command Center Chart |
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