arcee-ai/sec-data-full · Datasets at Hugging Face

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and homeowners of single-family homes and commercial and multi-family developers in the greater Reno-Sparks-Fernley metro area in Nevada
and in the Boise, Idaho area. Products and Services We provide a wide variety of finished carpentry
products and services to single-family homeowners and builders, builders of multi-family homes, as well as commercial clients in the greater
Reno-Sparks-Fernley metro area in Nevada, which is one of the fastest growing economic regions in the Western U.S. This includes selling
and installing doors, door frames, basic trim, base boards, crown molding, kitchen and bathroom cabinets and countertops, walk-in closets,
bookcases, fireplace mantles, even staircases, staircase handles and spindles. We also install windows in this market. Revenue
from window installation is projected to grow significantly. Window installation does not require any manufacturing or assembly of windows
and minimal inventory levels of product is needed. We can simply either install the windows that have already been purchased by the client
or buy them for a specific job and install them. We also build cabinets for every area of a home
- kitchen and bath cabinets, fireplace mantels and surrounds, entertainment systems and wall units, bookcases and office cabinets - in
Boise, Idaho and the surrounding area, for builders, designers and homeowners when they are building a new home or conduct remodeling.
In this market, most of the focus has been on supplying custom or semi-custom builders of residential properties. 29 Manufacturing Most of our services consist of design, assembly,
and installation services. As a result, we do not manufacture most of our products, although we do have limited manufacturing operations
consisting of value-add activities such as drilling pre-manufactured doors for holes and attaching hinges In the Boise, Idaho market, Kyle’s operates
a cabinet shop that is equipped with state-of-the-art tools operated by skilled cabinetmakers. It manufactures its cabinets using its
computer numerical control machinery in order to maximize efficiency. The details of each custom cabinet it makes are created by its own
employees, from hand sanding to staining and painting to adding a wide array of specialty finishes, coatings, distressing and glazing. Pricing Our strategy has been to deliver quality and performance
at a value-based price target. Our pricing model is generally offering better features or efficiencies than general market competitors
in each product category to our builder markets. Supplier Relationships We source products and raw materials from multiple
regional, national and foreign suppliers. Certain of our products and materials come from Asian-based suppliers. Products and materials
from Asian-based suppliers may be subjected to import tariffs, depending on various foreign policies of the US government. As such, we
continue to explore partnership or supplier opportunities to optimize our costs. The primary raw materials used in the manufacture
of Kyle’s products are melamine and veneered sheet goods, lumber, doors and hardware. Cost of these raw materials is a key factor
in pricing its products. We have historically purchased certain key products
and raw materials from a limited number of suppliers. We purchase products and raw materials on the basis of purchase orders. While we
believe that there is an ample supply of most of the products and raw materials that we need, in the absence of firm and long-term contracts,
we may not be able to obtain a sufficient supply of these products and raw materials from our existing suppliers or alternates in a timely
fashion or at a reasonable cost. If we fail to secure a sufficient supply of key products and raw materials in a timely fashion, it would
result in a significant delay in delivering our products and services, which may cause us to breach our sales contracts with our customers.
Furthermore, failure to obtain sufficient supply of these products and raw materials at a reasonable cost could also harm our revenue
and gross profit margins. Please see Item 1A “ Risk Factors—Risks Related to Our Custom Carpentry Business ” for
a description of the risks related to our supplier relationships. Furthermore, the COVID-19 pandemic has had and
may continue to have an adverse impact on the overall supply chain, including labor shortages at saw mills, shipping delays, and increased
prices, all of which may negatively affect our profitability and financial condition. See Item 1A “ Risk Factors—Risks Related
to Our Business and Structure—The COVID-19 pandemic may cause a material adverse effect on our business .” Sales and Marketing In the Reno-Sparks-Fernley, Nevada market, we
primarily work with large homebuilders of single-family homes, single-family homeowners and commercial and multi-family developers with
revenue that is well diversified across multiple large homebuilding companies such as Mountain West, MSL, DR Horton, Tanamera, Allco Construction,
Artisan Communities, Toll Brothers and Lennar, to name several of the more prominent commercial relationships we maintain. In the Boise, Idaho market, we primarily work
with custom or semi-custom home builders, but due to strong housing demands in the area, we are also tapping into the residential multi-family,
new construction segment of the market. We have high customer retention levels and have
generated a considerable number of broader revenue opportunities through direct and specific interaction with our customer base. We have
negotiated pricing with several long-term recurring contractor customers, which have accounted for a majority of our revenues. There can
be no assurance that we will maintain or improve the relationships with those customers. If we cannot maintain long-term relationships
with major customers or replace major customers from period to period with equivalent customers, the loss of such sales could have an
adverse effect on our business, financial condition and results of operations. Please also see Item 1A “ Risk Factors—Risks
Related to Our Custom Carpentry Business—The loss of any of our key customers could have a materially adverse effect on our results
of operations .” 30 We primarily rely on direct consumer marketing
and our extensive relationships with local builders to market our products. We also maintain websites at www.kylescabinets.com and www.innovativecabinetsanddesign.com
and conduct social media marketing through Facebook pages. Competition The finished carpentry industry consists of contractors
that provide specialist finish carpentry services, such as on-site construction and the installation of doors, windows, stairs, shelving,
cupboards, cabinets and decks. Carpenters experience steep competition from do-it-yourself (DIY) homeowners in the housing alterations
and additions market and from other skilled tradespeople in the new building construction market, such as general building contractors’
in-house staff. We compete with numerous competitors in our primary
markets, with reputation, price, workmanship and services being the principal competitive factors. We primarily compete with other specialty
builders in our markets, such as Franklin’s, Western Idaho, and to a lesser extent against national retail chains such as Home Depot
and Lowes. Barriers to entry exist from other similar companies coming into the regions given the pool of available labor working in finished
carpentry in the regions, and the close working relationships that exist between industry players in the regions. These barriers to entry
are also experienced by larger competitors from outside the regions, providing them with substantial challenges in establishing a foothold.
As a result of the implementation of our business strategy, which is delivering high value, quality products and customized solutions
and installations, we anticipate that we will continue to effectively compete against the aforementioned competition. Competitive Strengths Based on management’s belief and experience
in the industry, we believe that the following competitive strengths enable us to compete effectively. ● Superior
name and reputation . We are well established in our markets (including for over 40
years in the Boise market), and have built strong reputations for best-in-class processes,
product quality, and timeliness. We have strong visibility both online and among industry
professionals. Over our many years in business, we have established a stellar reputation
for integrity, superior service, and genuine concern for our clients and their businesses. ● Established
blue-chip clients . We have customer lists that include many regional contractors
in the areas that we service, many of whom have used us as their go-to vendors for many years. ● Streamlined
operations . We believe that our processes and operational systems have led to higher
than average efficiencies, accuracy and profitability. ● Diversified
capabilities . We have diversified capabilities to support large homebuilders of single-family
homes and commercial and multi-family developers, providing flexibility toward trending markets
and growth opportunities. ● Outstanding
growth opportunities . Our portfolio, brand and reputation, and streamlined operational
platform can be leveraged for expansion, both in existing regions, and other high-value surrounding
areas. ● Strong
regional presence . We operate in the in the greater Reno-Sparks-Fernley metro area,
which is one of the fastest growing economic regions in the Western U.S. due to its day drive
distance to many of the largest commercial centers and port facilities in the United States
and favorable tax and business regulation environment. There are multiple national homebuilders
and multi-family developers are active in the region. We are among the largest custom carpentry
companies in this region. Growth Strategies We will strive to grow our business by pursuing
the following growth strategies. ● Product
line expansion . There are a number of opportunities to expand our product and servicing
offerings. Notably, as discussed above, we intend to expand our window installation services,
which has a large market potential. ● Geographic
expansion . With more service requests in the surrounding area, there is immediate
opportunities for expansion to homeowners and contractors located near Twin Falls, McCall,
and Sun Valley areas of Idaho, as well as Northern Nevada. We believe that we are well positioned
to expand into these surrounding areas. 31 ● Expansion
to commercial projects . There are opportunities for us to exploit additional opportunities
in the commercial real estate sector. That could be office buildings and hotel and resort
properties. In the Boise market, we primarily focus on the residential single family, new
construction segment of the construction market. Evidence of market demand is ongoing for
multi-family projects, both within our current customer markets and within other potential
customers. Given appropriate infrastructure to support the market’s volume, immediate
market penetration for multi-family projects could be achieved. ● Capacity
and infrastructure expansion . In the Boise market, we plan to purchase more machinery
and build a separate finishing facility with automated spray finishing for stains, clear
lacquers and pigmented lacquers. In the Reno market, we are in the process expanding our

and homeowners of single-family homes and commercial and multi-family developers in the greater Reno-Sparks-Fernley metro area in Nevada

and in the Boise, Idaho area. Products and Services We provide a wide variety of finished carpentry

products and services to single-family homeowners and builders, builders of multi-family homes, as well as commercial clients in the greater

Reno-Sparks-Fernley metro area in Nevada, which is one of the fastest growing economic regions in the Western U.S. This includes selling

and installing doors, door frames, basic trim, base boards, crown molding, kitchen and bathroom cabinets and countertops, walk-in closets,

bookcases, fireplace mantles, even staircases, staircase handles and spindles. We also install windows in this market. Revenue

from window installation is projected to grow significantly. Window installation does not require any manufacturing or assembly of windows

and minimal inventory levels of product is needed. We can simply either install the windows that have already been purchased by the client

or buy them for a specific job and install them. We also build cabinets for every area of a home

- kitchen and bath cabinets, fireplace mantels and surrounds, entertainment systems and wall units, bookcases and office cabinets - in

Boise, Idaho and the surrounding area, for builders, designers and homeowners when they are building a new home or conduct remodeling.

In this market, most of the focus has been on supplying custom or semi-custom builders of residential properties. 29 Manufacturing Most of our services consist of design, assembly,

and installation services. As a result, we do not manufacture most of our products, although we do have limited manufacturing operations

consisting of value-add activities such as drilling pre-manufactured doors for holes and attaching hinges In the Boise, Idaho market, Kyle’s operates

a cabinet shop that is equipped with state-of-the-art tools operated by skilled cabinetmakers. It manufactures its cabinets using its

computer numerical control machinery in order to maximize efficiency. The details of each custom cabinet it makes are created by its own

employees, from hand sanding to staining and painting to adding a wide array of specialty finishes, coatings, distressing and glazing. Pricing Our strategy has been to deliver quality and performance

at a value-based price target. Our pricing model is generally offering better features or efficiencies than general market competitors

in each product category to our builder markets. Supplier Relationships We source products and raw materials from multiple

regional, national and foreign suppliers. Certain of our products and materials come from Asian-based suppliers. Products and materials

from Asian-based suppliers may be subjected to import tariffs, depending on various foreign policies of the US government. As such, we

continue to explore partnership or supplier opportunities to optimize our costs. The primary raw materials used in the manufacture

of Kyle’s products are melamine and veneered sheet goods, lumber, doors and hardware. Cost of these raw materials is a key factor

in pricing its products. We have historically purchased certain key products

and raw materials from a limited number of suppliers. We purchase products and raw materials on the basis of purchase orders. While we

believe that there is an ample supply of most of the products and raw materials that we need, in the absence of firm and long-term contracts,

we may not be able to obtain a sufficient supply of these products and raw materials from our existing suppliers or alternates in a timely

fashion or at a reasonable cost. If we fail to secure a sufficient supply of key products and raw materials in a timely fashion, it would

result in a significant delay in delivering our products and services, which may cause us to breach our sales contracts with our customers.

Furthermore, failure to obtain sufficient supply of these products and raw materials at a reasonable cost could also harm our revenue

and gross profit margins. Please see Item 1A “ Risk Factors—Risks Related to Our Custom Carpentry Business ” for

a description of the risks related to our supplier relationships. Furthermore, the COVID-19 pandemic has had and

may continue to have an adverse impact on the overall supply chain, including labor shortages at saw mills, shipping delays, and increased

prices, all of which may negatively affect our profitability and financial condition. See Item 1A “ Risk Factors—Risks Related

to Our Business and Structure—The COVID-19 pandemic may cause a material adverse effect on our business .” Sales and Marketing In the Reno-Sparks-Fernley, Nevada market, we

primarily work with large homebuilders of single-family homes, single-family homeowners and commercial and multi-family developers with

revenue that is well diversified across multiple large homebuilding companies such as Mountain West, MSL, DR Horton, Tanamera, Allco Construction,

Artisan Communities, Toll Brothers and Lennar, to name several of the more prominent commercial relationships we maintain. In the Boise, Idaho market, we primarily work

with custom or semi-custom home builders, but due to strong housing demands in the area, we are also tapping into the residential multi-family,

new construction segment of the market. We have high customer retention levels and have

generated a considerable number of broader revenue opportunities through direct and specific interaction with our customer base. We have

negotiated pricing with several long-term recurring contractor customers, which have accounted for a majority of our revenues. There can

be no assurance that we will maintain or improve the relationships with those customers. If we cannot maintain long-term relationships

with major customers or replace major customers from period to period with equivalent customers, the loss of such sales could have an

adverse effect on our business, financial condition and results of operations. Please also see Item 1A “ Risk Factors—Risks

Related to Our Custom Carpentry Business—The loss of any of our key customers could have a materially adverse effect on our results

of operations .” 30 We primarily rely on direct consumer marketing

and our extensive relationships with local builders to market our products. We also maintain websites at www.kylescabinets.com and www.innovativecabinetsanddesign.com

and conduct social media marketing through Facebook pages. Competition The finished carpentry industry consists of contractors

that provide specialist finish carpentry services, such as on-site construction and the installation of doors, windows, stairs, shelving,

cupboards, cabinets and decks. Carpenters experience steep competition from do-it-yourself (DIY) homeowners in the housing alterations

and additions market and from other skilled tradespeople in the new building construction market, such as general building contractors’

in-house staff. We compete with numerous competitors in our primary

markets, with reputation, price, workmanship and services being the principal competitive factors. We primarily compete with other specialty

builders in our markets, such as Franklin’s, Western Idaho, and to a lesser extent against national retail chains such as Home Depot

and Lowes. Barriers to entry exist from other similar companies coming into the regions given the pool of available labor working in finished

carpentry in the regions, and the close working relationships that exist between industry players in the regions. These barriers to entry

are also experienced by larger competitors from outside the regions, providing them with substantial challenges in establishing a foothold.

As a result of the implementation of our business strategy, which is delivering high value, quality products and customized solutions

and installations, we anticipate that we will continue to effectively compete against the aforementioned competition. Competitive Strengths Based on management’s belief and experience

in the industry, we believe that the following competitive strengths enable us to compete effectively. ● Superior

name and reputation . We are well established in our markets (including for over 40

years in the Boise market), and have built strong reputations for best-in-class processes,

product quality, and timeliness. We have strong visibility both online and among industry

professionals. Over our many years in business, we have established a stellar reputation

for integrity, superior service, and genuine concern for our clients and their businesses. ● Established

blue-chip clients . We have customer lists that include many regional contractors

in the areas that we service, many of whom have used us as their go-to vendors for many years. ● Streamlined

operations . We believe that our processes and operational systems have led to higher

than average efficiencies, accuracy and profitability. ● Diversified

capabilities . We have diversified capabilities to support large homebuilders of single-family

homes and commercial and multi-family developers, providing flexibility toward trending markets

and growth opportunities. ● Outstanding

growth opportunities . Our portfolio, brand and reputation, and streamlined operational

platform can be leveraged for expansion, both in existing regions, and other high-value surrounding

areas. ● Strong

regional presence . We operate in the in the greater Reno-Sparks-Fernley metro area,

which is one of the fastest growing economic regions in the Western U.S. due to its day drive

distance to many of the largest commercial centers and port facilities in the United States

and favorable tax and business regulation environment. There are multiple national homebuilders

and multi-family developers are active in the region. We are among the largest custom carpentry

companies in this region. Growth Strategies We will strive to grow our business by pursuing

the following growth strategies. ● Product

line expansion . There are a number of opportunities to expand our product and servicing

offerings. Notably, as discussed above, we intend to expand our window installation services,

which has a large market potential. ● Geographic

expansion . With more service requests in the surrounding area, there is immediate

opportunities for expansion to homeowners and contractors located near Twin Falls, McCall,

and Sun Valley areas of Idaho, as well as Northern Nevada. We believe that we are well positioned

to expand into these surrounding areas. 31 ● Expansion

to commercial projects . There are opportunities for us to exploit additional opportunities

in the commercial real estate sector. That could be office buildings and hotel and resort

properties. In the Boise market, we primarily focus on the residential single family, new

construction segment of the construction market. Evidence of market demand is ongoing for

multi-family projects, both within our current customer markets and within other potential

customers. Given appropriate infrastructure to support the market’s volume, immediate

market penetration for multi-family projects could be achieved. ● Capacity

and infrastructure expansion . In the Boise market, we plan to purchase more machinery

and build a separate finishing facility with automated spray finishing for stains, clear

lacquers and pigmented lacquers. In the Reno market, we are in the process expanding our