| Schedule of Goodwill |
Goodwill is summarized
by location as follows:
| |
|
March 31, 2015 |
|
|
December 31, 2014 |
|
| South Africa |
|
$ |
263,149 |
|
|
$ |
273,737 |
|
| ABC |
|
|
2,806,990 |
|
|
|
2,806,990 |
|
| WEW |
|
|
2,738,909 |
|
|
|
2,868,192 |
|
| Just Fresh |
|
|
425,151 |
|
|
|
425,151 |
|
| Australia |
|
|
6,833,593 |
|
|
|
7,291,329 |
|
| Hooters Pacific NW |
|
|
1,951,909 |
|
|
|
1,951,909 |
|
| BGR |
|
|
426,038 |
|
|
|
- |
|
| Total |
|
$ |
15,445,739 |
|
|
$ |
15,617,308 |
|
|
| Summary of Changes in Carrying Amount of Goodwill |
The changes in the
carrying amount of goodwill are summarized as follows:
| |
|
Three Months Ended |
|
| |
|
March 31, 2015 |
|
|
March 31, 2014 |
|
| Beginning Balance |
|
$ |
15,617,308 |
|
|
$ |
6,496,756 |
|
| Acquisitions |
|
|
426,038 |
|
|
|
2,671,649 |
|
| Foreign currency translation |
|
|
(597,608 |
) |
|
|
- |
|
| Ending Balance |
|
$ |
15,445,739 |
|
|
$ |
9,168,405 |
|
|
| Schedule of Other Intangible Assets |
Other intangible
assets, consisting of franchise costs, trademarks and tradenames, is summarized by location as follows:
| Intagible assets |
|
March 31, 2015 |
|
|
December 31, 2014 |
|
| Franchise fees: |
|
|
|
|
|
|
|
|
| South Africa |
|
$ |
354,731 |
|
|
$ |
290,986 |
|
| Europe |
|
|
89,152 |
|
|
|
106,506 |
|
| Australia |
|
|
355,911 |
|
|
|
383,529 |
|
| Hootres Pacific NW |
|
|
90,000 |
|
|
|
90,000 |
|
| BGR |
|
|
1,320,000 |
|
|
|
- |
|
| Brazil * |
|
|
135,000 |
|
|
|
135,000 |
|
| |
|
|
2,344,794 |
|
|
|
1,006,021 |
|
| |
|
|
|
|
|
|
|
|
| Trademark, Tradenames: |
|
|
|
|
|
|
|
|
| Just Fresh |
|
|
1,010,000 |
|
|
|
1,010,000 |
|
| American Roadside Burger |
|
|
1,783,954 |
|
|
|
1,783,954 |
|
| BGR |
|
|
1,430,000 |
|
|
|
- |
|
| |
|
|
4,223,954 |
|
|
|
2,793,954 |
|
| Total Intangibles at cost |
|
|
6,568,748 |
|
|
|
3,799,975 |
|
| Accumulated amortization |
|
|
(472,083 |
) |
|
|
(403,472 |
) |
| Intangible assets, net |
|
$ |
6,096,665 |
|
|
$ |
3,396,503 |
|
* Amortization
of the Brazil franchise cost will begin with the opening of a restaurant in that market.
|