To the best of my knowledge and according to the serial number and date code... it's a 1940 CCM or a CCM made for another retailer. After stripping and re-painting I weighed it at 5 pounds (with bb cups) which is pretty light for this era.

I only got the frame... the tyres are from a '64 CCM, the cranks are period correct, the stem and fork are modern (needed a stronger front end), the bars are old cruiser bars that have been flipped, and the front brake is a Dia Compe lever mated to a Universal model 77.

I still haven't been able to id the saddle's maker.