Business Acquisition

6 Months Ended

Apr. 30, 2019

Business Combinations [Abstract]

Business Acquisition

NOTE 4 – BUSINESS ACQUISITION:

Steep & Brew, Inc. Acquisition

Pursuant to the terms of an Asset Purchase Agreement dated April 24, 2018 (the “Generations Agreement”), by and among Generations Coffee Company, LLC (“GCC”), the entity formed as a result of the Company’s joint venture with Caruso’s Coffee, Inc., Steep & Brew, Inc. (“the Seller”) a Wisconsin corporation and the stockholder of the Seller. GCC purchased substantially all the assets, including equipment, inventory, customer list and relationships (the “Assets”) of the Seller. This was accounted for as a business combination.

Pro Forma Results of Operations (unaudited)

The following pro forma results of operations for the three and six months ended April 30, 2018 have been prepared as though the business acquisition had occurred as of November 1, 2017. There is no proforma information included here for the three and six months ended April 30, 2019 because the Steep & Brew, Inc. numbers are included in the actual April 30, 2019 results. This pro forma financial information is not indicative of the results of operations that the Company would have attained had the acquisition occurred at the beginning of the periods presented, nor is the pro forma financial information indicative of the results of operations that may occur in the future:

	Three Months Ended April 30, 2018		Six Months Ended April 30, 2018
Pro forma sales	$	24,542,639	$	49,680,884
Pro forma net income		378,773		837,063
Pro forma basic and diluted earnings per share		.07		.15