Registration of securities issued in business combination transactions

Segments of Business (Tables)

v3.19.3
Segments of Business (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Segment Reporting [Abstract]    
Schedule of Revenues and Operating Income (loss) by Segment

The following are revenues and operating income (loss) from continuing operations by segment for the three and nine months ended September 30, 2019 and 2018. The Company does not aggregate or review non-current assets at the segment level.

 

    Three Months Ended     Nine Months Ended  
    September 30, 2019     September 30, 2018     September 30, 2019     September 30, 2018  
Revenue:                                
Hooters Full Service   $ 2,886,269     $ 3,392,300     $ 9,576,854     $ 10,436,597  
Better Burgers Fast Casual     5,823,650       5,692,004       18,010,835       16,854,025  
Just Fresh Fast Casual     943,521       989,097       2,924,294       3,128,220  
Corporate and Other     -       24,999       50,000       74,997  
    $ 9,653,440     $ 10,098,400     $ 30,561,983     $ 30,493,839  
                                 
Operating Income (Loss):                                
Hooters Full Service   $ (1,270,738 )     87,444       (1,860,995 )   $ (1,174,320 )
Better Burgers Fast Casual     (1,082,494 )     (133,466 )     (3,056,296 )     (253,997 )
Just Fresh Fast Casual     (706,332 )     (21,280 )     (768,918 )     (64,057 )
Corporate and Other     (1,173,878 )     (604,014 )     (3,239,817 )     (1,980,129 )
    $ (4,233,442 )   $ (671,316 )   $ (8,926,026 )   $ (3,472,503 )
                                 
Depreciation and Amortization                                
Hooters Full Service   $ 76,189       95,509     $ 259,624     $ 303,682  
Better Burgers Fast Casual     408,941       382,802       1,229,656       1,154,885  
Just Fresh Fast Casual     45,148       44,525       135,442       133,575  
Corporate and Other     987       844       2,960       2,531  
    $ 531,265     $ 523,680     $ 1,627,682     $ 1,594,673  

The following are revenues and operating income (loss) from continuing operations by segment as of and for the years ended December 31, 2018 and 2017. The Company does not aggregate or review non-current assets at the segment level.

 

    Year Ended  
    December 31, 2018     December 31, 2017  
Revenue:            
Hooters Full Service   $ 13,841,917     $ 13,508,220  
Better Burgers Fast Casual     22,617,522       22,764,571  
Just Fresh Fast Casual     4,054,270       5,060,072  
Corporate and Other     100,000       100,000  
    $ 40,613,709     $ 41,432,863  
                 
Operating Income (Loss):                
Hooters Full Service   $ (1,280,336 )   $ (1,188,598 )
Better Burgers Fast Casual     (1,216,513 )     (537,971 )
Just Fresh Fast Casual     (124,863 )     (256,319 )
Corporate and Other     (2,733,389 )     (3,252,489 )
    $ (5,355,101 )   $ (5,235,377 )
                 
Depreciation and Amortization                
Hooters Full Service   $ 399,914     $ 496,996  
Better Burgers Fast Casual     1,582,197       1,459,527  
Just Fresh Fast Casual     178,100       322,904  
Corporate and Other     3,374       3,374  
    $ 2,163,585     $ 2,282,801  

Summary of Revenues, Operating Loss, Long-Lived Assets By Geographic Area

The following are revenues and operating income (loss) from continuing operations by geographic region for the three and nine months ended September 30, 2019 and 2018:

 

    Three Months Ended     Nine Months Ended  
    September 30, 2019     September 30, 2018     September 30, 2019     September 30, 2018  
Revenue:                                
United States   $ 7,635,120     $ 8,038,545     $ 24,441,959     $ 23,984,963  
South Africa     1,383,906       1,352,340       4,123,148       4,321,668  
Europe     634,414       707,515       1,996,876       2,187,208  
    $ 9,653,440     $ 10,098,400     $ 30,561,983     $ 30,493,839  
                                 
Operating Income (Loss):                                
United States   $ (4,380,394 )   $ (711,846 )   $ (9,080,259 )   $ (2,179,967 )
South Africa     110,956       29,485       77,682       50,680  
Europe     35,996       11,045       76,551       (1,343,216 )
    $ (4,233,442 )   $ (671,316 )   $ (8,926,026 )   $ (3,472,503 )

 

The following are non-current assets by geographic region as of September 30, 2019 and December 31, 2018:

 

    September 30, 2019 (1)     December 31, 2018  
United States   $ 35,825,711     $ 24,795,368  
South Africa*     -       909,514  
Europe     2,561,043       2,413,222  
    $ 38,386,754     $ 28,118,104  

 

*Amounts are included in assets held for sale at September 30, 2019.

 

(1) Non-current assets increased due to the adoption of ASC 842 effective January 1, 2019.

The following are revenues and operating income (loss) from continuing operations and non-current assets by geographic region as of and for the years ended December 31, 2018 and 2017:

 

    Year Ended  
    December 31, 2018     December 31, 2017  
Revenue:            
United States   $ 31,930,427     $ 32,804,708  
South Africa     5,825,967       5,777,306  
Europe     2,857,315       2,850,849  
    $ 40,613,709     $ 41,432,863  
                 
Operating Income (Loss):                
United States   $ (5,666,969 )   $ (4,554,429 )
South Africa     139,088       (798,914 )
Europe     172,780       117,966  
    $ (5,355,101 )   $ (5,235,377 )

 

Non-current Assets:   December 31, 2018     December 31, 2017  
United States   $ 24,795,368     $ 24,630,101  
South Africa     909,514       1,203,610  
Europe     2,413,222       2,549,747  
    $ 28,118,104     $ 28,383,458