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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)
|
Page
|
||
|
|
|
|
||
|
3
|
|
|
4
|
|
|
5
|
|
|
6
|
|
15
|
||
18
|
||
18
|
|
||
|
|
|
18
|
||
19
|
||
19
|
||
19
|
||
19
|
||
19
|
||
19
|
||
|
20
|
|
Thirteen Weeks
Ended
|
Thirty-nine
Weeks Ended
|
||
|
September 29,
2017
|
September 23,
2016
|
September 29,
2017
|
September 23,
2016
|
Revenue
|
$
26,703,266
|
$
26,433,646
|
$
73,555,175
|
$
67,171,852
|
Cost of staffing
services
|
19,513,757
|
19,596,705
|
54,134,575
|
50,194,378
|
Gross
profit
|
7,189,509
|
6,836,941
|
19,420,600
|
16,977,474
|
Selling, general
and administrative expenses
|
5,483,857
|
5,605,680
|
15,991,976
|
15,770,485
|
Depreciation and
amortization
|
96,368
|
110,155
|
288,195
|
211,200
|
Income from
operations
|
1,609,284
|
1,121,106
|
3,140,429
|
995,789
|
Interest expense
and other financing expense
|
6,263
|
616
|
7,492
|
52,719
|
Net income before
income taxes
|
1,603,021
|
1,120,490
|
3,132,937
|
943,070
|
Provision for
income taxes
|
752,223
|
282,259
|
1,364,791
|
365,000
|
Net
income
|
$
850,798
|
$
838,231
|
$
1,768,146
|
$
578,070
|
Earnings
per share:
|
|
|
|
|
Basic
|
$
0.01
|
$
0.01
|
$
0.03
|
$
0.01
|
Diluted
|
$
0.01
|
$
0.01
|
$
0.03
|
$
0.01
|
Weighted
average shares outstanding:
|
|
|||
Basic
|
60,623,514
|
62,009,514
|
60,620,938
|
63,048,377
|
Diluted
|
61,297,243
|
62,767,858
|
61,302,470
|
63,806,354
|
|
Thirty-nine
Weeks Ended
|
|
|
September 29,
2017
|
September 23,
2016
|
Cash
flows from operating activities
|
|
|
Net
income
|
$
1,768,146
|
$
578,070
|
Adjustments to
reconcile net income to net cash provided by (used in)
operations:
|
|
|
Depreciation and
amortization
|
288,195
|
211,200
|
Provision for bad
debts
|
161,008
|
408,976
|
Stock based
compensation
|
121,989
|
196,182
|
Deferred tax
asset
|
1,008,089
|
315,000
|
Changes in assets
and liabilities:
|
|
|
Accounts
receivable
|
(840,468
)
|
(3,274,405
)
|
Prepaid
workers’ compensation
|
442,954
|
274,061
|
Other
receivables
|
(63,529
)
|
(89,041
)
|
Prepaid expenses,
deposits and other
|
152,229
|
(72,151
)
|
Workers’
compensation risk pool deposits
|
12,153
|
242,100
|
Accounts
payable
|
(354,684
)
|
(77,141
)
|
Other current
liabilities
|
254,735
|
(364,047
)
|
Accrued wages and
benefits
|
127,206
|
(509,742
)
|
Workers’
compensation premiums and claims liability
|
(570,278
)
|
(527,111
)
|
Net cash provided
by (used in) operating activities
|
2,507,745
|
(2,688,049
)
|
Cash
flows from investing activities
|
|
|
Cash paid for
acquisition
|
-
|
(1,980,000
)
|
Purchase of
property and equipment
|
(102,170
)
|
(123,986
)
|
Net cash used in
investing activities
|
(102,170
)
|
(2,103,986
)
|
Cash
flows from financing activities
|
|
|
Net change in
account purchase agreement facility
|
682,962
|
(408,001
)
|
Purchase and
retirement of common stock
|
(54,976
)
|
(1,376,549
)
|
Payments on notes
payable
|
-
|
(491,750
)
|
Net cash provided
by (used in) financing activities
|
627,986
|
(2,276,300
)
|
Net
increase (decrease) in cash
|
3,033,561
|
(7,068,335
)
|
Cash
and restricted cash at beginning of period
|
3,047,417
|
7,629,424
|
Cash
and restricted cash at end of period
|
$
6,080,978
|
$
561,089
|
|
|
|
Supplemental
disclosure of cash flow information
|
|
|
Interest
paid
|
$
7,492
|
$
52,688
|
Income taxes
paid
|
$
65,837
|
$
58,611
|
|
Thirteen Weeks
Ended
|
Thirty-nine
Weeks Ended
|
||
|
September 29,
2017
|
September 23,
2016
|
September 29,
2017
|
September 23,
2016
|
Weighted average
number of common shares used in basic net income per common
share
|
60,623,514
|
62,009,514
|
60,620,938
|
63,048,377
|
Dilutive effects of
stock options
|
673,729
|
758,344
|
681,532
|
757,977
|
Weighted average
number of common shares used in diluted net income per common
share
|
61,297,243
|
62,767,858
|
61,302,470
|
63,806,354
|
Assets:
|
|
Current
assets
|
$
587,833
|
Fixed
assets
|
92,220
|
Intangible
assets
|
659,564
|
Goodwill
|
1,277,568
|
|
$
2,617,185
|
Liabilities:
|
|
Current
liabilities
|
417,185
|
Net purchase
price
|
$
2,200,000
|
|
Thirteen
|
Thirty-nine
|
|
Weeks
Ended
|
Weeks
Ended
|
|
September 23,
2016
|
September 23,
2016
|
Revenue
|
$
26,703
|
$
71,314
|
|
|
|
Net income before
income tax
|
$
1,603
|
$
2,447
|
Income
tax
|
181
|
450
|
Net
income
|
$
1,422
|
$
1,997
|
|
September
29,
2017
|
December
30,
2016
|
Goodwill
|
$
3,777,568
|
$
3,777,568
|
Intangible
assets
|
659,564
|
659,564
|
Accumulated
amortization
|
(296,048
)
|
(129,521
)
|
Goodwill and other
intangible assets, net
|
$
4,141,084
|
$
4,307,611
|
|
Number
of
|
Weighted
Average
|
Weighted
Average
|
|
Shares
Under
|
Exercise
Price
|
Grant
Date
|
|
Options
|
Per
Share
|
Fair
Value
|
Outstanding
December 30, 2016
|
2,498,000
|
$
0.36
|
$
0.23
|
Granted
|
900,000
|
$
0.43
|
$
0.22
|
Forfeited
|
(10,000
)
|
$
0.67
|
$
0.38
|
Expired
|
(328,000
)
|
$
0.42
|
$
0.33
|
Outstanding
September 29, 2017
|
3,060,000
|
$
0.37
|
$
0.22
|
|
|
|
|
|
|
Weighted
Average
|
Weighted
Average
|
|
Number
of
|
Exercise
Price
|
Grant
Date
|
|
Options
|
Per
Share
|
Fair
Value
|
Non-vested December
30, 2016
|
637,500
|
$
0.40
|
$
0.27
|
Granted
|
900,000
|
$
0.43
|
$
0.22
|
Vested
|
(600,000
)
|
$
0.29
|
$
0.18
|
Forfeited
|
(10,000
)
|
$
0.67
|
$
0.38
|
Non-vested
September 29, 2017
|
927,500
|
$
0.50
|
$
0.26
|
|
|
|
Weighted
Average
|
|
|
|
Weighted
Average
|
Remaining
|
|
|
Number of
Shares
|
Exercise
Price
|
Contractual
Life
|
Aggregate
Intrinsic
|
|
Under
Options
|
Per
Share
|
(years)
|
Value
|
Outstanding
|
3,060,000
|
$
0.37
|
6.48
|
$
797,375
|
Exercisable
|
2,132,500
|
$
0.32
|
5.65
|
$
380,000
|
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
|
1,900,000
|
6.36
|
1,600,000
|
5.69
|
0.67 – 0.73
|
1,160,000
|
6.67
|
532,500
|
5.53
|
|
3,060,000
|
6.48
|
2,132,500
|
5.65
|
|
Total Shares Purchased
|
Average Price Per Share
|
Total number of shares purchased as part of publicly announced
plan
|
Approximate dollar value of shares that may yet be purchased under
the plan
|
July
(July 1, 2017 to July 28, 2017)
|
-
|
$
-
|
6,149,828
|
$
2,898,449
|
August
(July 29, 2017 to August 25, 2017)
|
-
|
$
-
|
6,149,828
|
$
2,898,449
|
September
(August 26, 2017 to September 29, 2017)
|
134,100
|
$
0.41
|
6,283,928
|
$
4,945,023
|
Total
|
134,100
|
|
|
|
|
Operating
Lease
|
Year
|
Obligation
|
2017 (3
months)
|
$
261,945
|
2018
|
858,929
|
2019
|
637,976
|
2020
|
346,845
|
2021
|
12,155
|
|
$
2,117,850
|
|
Thirteen Weeks
Ended
|
|||
|
September 29,
2017
|
September 23,
2016
|
||
Total operating
revenue
|
$
26,703
|
|
$
26,434
|
|
Cost of staffing
services
|
19,514
|
73.1
%
|
19,597
|
74.1
%
|
Gross
Profit
|
7,189
|
26.9
%
|
6,837
|
25.9
%
|
Selling, general,
and administrative expenses
|
5,484
|
20.5
%
|
5,606
|
21.2
%
|
Depreciation and
amortization
|
96
|
0.4
%
|
110
|
0.4
%
|
Income from
operations
|
1,609
|
6.0
%
|
1,121
|
4.2
%
|
Interest expense
and other financing expense
|
6
|
0.0
%
|
1
|
0.0
%
|
Net income before
taxes
|
1,603
|
6.0
%
|
1,120
|
4.2
%
|
Provision for
income taxes
|
752
|
2.8
%
|
282
|
1.1
%
|
Net
income
|
$
851
|
3.2
%
|
$
838
|
3.2
%
|
Non-GAAP
data
|
|
|
|
|
EBITDA
|
$
1,705
|
6.4
%
|
$
1,231
|
4.7
%
|
Adjusted
EBITDA
|
$
1,809
|
6.8
%
|
$
1,181
|
4.5
%
|
|
Thirty-nine
Weeks Ended
|
|||
|
September
29 , 2017
|
September
23 , 2016
|
||
Total operating
revenue
|
$
73,555
|
|
$
67,172
|
|
Cost of staffing
services
|
54,135
|
73.6
%
|
50,195
|
74.7
%
|
Gross
Profit
|
19,420
|
26.4
%
|
16,977
|
25.3
%
|
Selling, general,
and administrative expenses
|
15,992
|
21.7
%
|
15,770
|
23.5
%
|
Depreciation and
amortization
|
288
|
0.4
%
|
211
|
0.3
%
|
Income from
operations
|
3,140
|
4.3
%
|
996
|
1.5
%
|
Interest expense
and other financing expense
|
7
|
0.0
%
|
53
|
0.1
%
|
Net income before
taxes
|
3,133
|
4.3
%
|
943
|
1.4
%
|
Provision for
income taxes
|
1,365
|
1.9
%
|
365
|
0.5
%
|
Net
income
|
$
1,768
|
2.4
%
|
$
578
|
0.9
%
|
Non-GAAP
data
|
|
|
|
|
EBITDA
|
$
3,428
|
4.7
%
|
$
1,207
|
1.8
%
|
Adjusted
EBITDA
|
$
3,550
|
4.8
%
|
$
1,653
|
2.5
%
|
|
Thirteen Weeks
Ended
|
|
|
September 29,
2017
|
September 23,
2016
|
Net
income
|
$
851
|
$
838
|
Interest expense
and other financing expense
|
6
|
1
|
Depreciation and
amortization
|
96
|
110
|
Provision for
income taxes
|
752
|
282
|
EBITDA
|
1,705
|
1,231
|
Non-cash
compensation
|
104
|
(50
)
|
Adjusted
EBITDA
|
$
1,809
|
$
1,181
|
|
Thirty-nine
Weeks Ended
|
|
|
September 29,
2017
|
September 23,
2016
|
Net
income
|
$
1,768
|
$
578
|
Interest expense
and other financing expense
|
7
|
53
|
Depreciation and
amortization
|
288
|
211
|
Provision for
income taxes
|
1,365
|
365
|
EBITDA
|
3,428
|
1,207
|
Non-cash
compensation
|
122
|
196
|
Reserve for
workers’ compensation deposit
|
-
|
250
|
Adjusted
EBITDA
|
$
3,550
|
$
1,653
|
|
Total Shares Purchased
|
Average Price Per Share
|
Total number of shares purchased as part of publicly announced
plan
|
Approximate dollar value of shares that may yet be purchased under
the plan
|
July
(July 1, 2017 to July 28, 2017)
|
-
|
$
-
|
6,149,828
|
$
2,898,449
|
August
(July 29, 2017 to August 25, 2017)
|
-
|
$
-
|
6,149,828
|
$
2,898,449
|
September
(August 26, 2017 to September 29, 2017)
|
134,100
|
$
0.41
|
6,283,928
|
$
4,945,023
|
Total
|
134,100
|
|
|
|
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
|
|
November
13, 2017
|
Signature
|
|
Title
|
|
Printed
Name
|
|
Date
|
|
|
|
|
|
|
|
/s/
Cory Smith
|
|
Principal
Accounting Officer
|
|
Cory
Smith
|
|
November
13, 2017
|
Signature
|
|
Title
|
|
Printed
Name
|
|
Date
|
1 Year Command Center Chart |
1 Month Command Center Chart |
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