INVESTMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2012
|
Investments, Debt and Equity Securities [Abstract] |
|
Fair Value, by Balance Sheet Grouping [Table Text Block] |
|
|
2012 |
|
|
2011 |
|
|
|
|
|
|
|
|
Available-for-sale investments at fair value |
|
$ |
56,949 |
|
|
$ |
318,353 |
|
Total |
|
$ |
56,949 |
|
|
$ |
318,353 |
|
|
Available-For-Sale Securities Activity [Table Text Block] |
Activity in our available-for-sale securities may be summarized as follows:
|
|
2012 |
|
|
2011 |
|
|
|
|
|
|
|
|
Cost at beginning of year |
|
$ |
263,331 |
|
|
$ |
284,473 |
|
Contributed to the Company by it's CEO |
|
|
- |
|
|
|
125,331 |
|
Received as management fees |
|
|
- |
|
|
|
1,500 |
|
Other than temporary loss in available-for-sale securities |
|
|
- |
|
|
|
(147,973 |
) |
Cost at end of year |
|
|
263,331 |
|
|
|
263,331 |
|
Unrealized gain (loss) |
|
|
(206,382 |
) |
|
|
55,022 |
|
Total |
|
$ |
56,949 |
|
|
$ |
318,353 |
|
Available-for-sale Securities [Table Text Block] |
Our available-for-sale securities consist of the following:
|
|
Cost |
|
|
Unrecognized Holding Gains (Losses) |
|
|
Fair Value |
|
|
Realized Holding Loss |
|
|
Loss on Sale |
|
December 31, 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North Carolina Natural Energy |
|
|
1,500 |
|
|
|
- |
|
|
|
1,500 |
|
|
|
- |
|
|
|
- |
|
North American Energy |
|
|
126,000 |
|
|
|
(111,300 |
) |
|
|
14,700 |
|
|
|
- |
|
|
|
- |
|
North American Energy |
|
|
10,500 |
|
|
|
(7,350 |
) |
|
|
3,150 |
|
|
|
- |
|
|
|
- |
|
North American Energy |
|
|
125,331 |
|
|
|
(87,732 |
) |
|
|
37,599 |
|
|
|
- |
|
|
|
- |
|
|
|
$ |
263,331 |
|
|
$ |
(206,382 |
) |
|
$ |
56,949 |
|
|
$ |
- |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Remodel Auction |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(900 |
) |
|
$ |
- |
|
North Carolina Natural Energy |
|
|
1,500 |
|
|
|
- |
|
|
|
1,500 |
|
|
|
- |
|
|
|
- |
|
North American Energy |
|
|
126,000 |
|
|
|
(42,000 |
) |
|
|
84,000 |
|
|
|
- |
|
|
|
- |
|
North American Energy |
|
|
10,500 |
|
|
|
7,500 |
|
|
|
18,000 |
|
|
|
- |
|
|
|
- |
|
North American Energy |
|
|
125,331 |
|
|
|
89,522 |
|
|
|
214,853 |
|
|
|
- |
|
|
|
- |
|
Efftec International, Inc. |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(22,500 |
) |
|
|
- |
|
HiTech Stages |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(124,573 |
) |
|
|
- |
|
|
|
$ |
263,331 |
|
|
$ |
55,022 |
|
|
$ |
318,353 |
|
|
$ |
(147,973 |
) |
|
$ |
- |
|
|
Schedule of Other Investments Not Readily Marketable [Table Text Block] |
|
|
2012 |
|
|
2011 |
|
|
|
|
|
|
|
|
Investments accounted for under the equity method |
|
$ |
1,066,915 |
|
|
$ |
815,550 |
|
Investments accounted for under the cost method |
|
|
1,050,000 |
|
|
|
766,598 |
|
Total |
|
$ |
2,116,915 |
|
|
$ |
1,582,148 |
|
|
Schedule of Equity Method Investments [Table Text Block] |
Activity in investments accounted for using the equity method is summarized as follows.
|
|
2012 |
|
|
2011 |
|
|
|
|
|
|
|
|
Balance, beginning of year |
|
$ |
815,550 |
|
|
$ |
87,200 |
|
Equity in earnings (loss) |
|
|
(14,803 |
) |
|
|
(76,113 |
) |
New investments |
|
|
409,543 |
|
|
|
812,604 |
|
Reclassification of investments |
|
|
(143,375 |
) |
|
|
- |
|
Distributions received |
|
|
- |
|
|
|
(8,141 |
) |
Balance, end of year |
|
$ |
1,066,915 |
|
|
$ |
815,550 |
|
Equity investments consist of the following at December 31, 2012 and December 31, 2011:
|
|
2012 |
|
|
2011 |
|
Carrying value: |
|
|
|
|
|
|
|
|
Hoot SA I, II, III - South Africa |
|
$ |
- |
|
|
$ |
143,274 |
|
Hoot Campbelltown Pty. Ltd. (49%) - Australia |
|
|
555,331 |
|
|
|
570,134 |
|
Second Hooters location (49%) - Australia |
|
|
511,584 |
|
|
|
102,041 |
|
Brazil |
|
|
- |
|
|
|
101 |
|
|
|
$ |
1,066,915 |
|
|
$ |
815,550 |
|
Schedule Of Equity Earnings (Loss) and Distributions [Table Text Block] |
The activity from the South African restaurants is through September 30, 2011 at which time the Company acquired majority ownership and began consolidating these operations.
|
|
2012 |
|
|
2011 |
|
Equity in earnings (loss): |
|
|
|
|
|
|
|
|
Hoot S.A. I, II, III |
|
|
- |
|
|
|
(9,256 |
) |
Hoot Campbelltown (49%) |
|
|
(14,803 |
) |
|
|
(66,857 |
) |
|
|
$ |
(14,803 |
) |
|
$ |
(76,113 |
) |
Distributions: |
|
|
|
|
|
|
|
|
Hoot S.A. I, LLC (20%) |
|
|
- |
|
|
|
6,248 |
|
Hoot S.A. II, LLC (20%) |
|
|
- |
|
|
|
1,893 |
|
|
|
$ |
- |
|
|
$ |
8,141 |
|
Schedule Of Equity Method Investment, Summarized Financial Information, Income Statement [Table Text Block] |
The Company acquired majority ownership of the South African restaurants effective September 30, 2011, accordingly, the amounts in 2011 are for only nine months. In addition, the restaurant at the Hoot Campbelltown location incurred a loss for certain pre-opening expenses before it opened in January 2012, our share of which is included above.
|
|
2012 |
|
|
2011 |
|
|
|
|
|
|
|
|
Revenue |
|
$ |
3,348,928 |
|
|
$ |
3,364,265 |
|
Gross profit |
|
|
2,381,245 |
|
|
|
2,122,073 |
|
Income (loss) from continuing operations |
|
|
(30,208 |
) |
|
|
131,949 |
|
Net income (loss) |
|
|
(30,208 |
) |
|
|
131,949 |
|
|
Schedule Of Equity Method Investment, Summarized Financial Information, Balance Sheet [Table Text Block] |
The summarized balance sheets for the two locations in Australia of which we owned 49% at December 31, 2012 and December 31, 2011 follows:
|
|
2012 |
|
|
2011 |
|
ASSETS |
|
|
|
|
|
|
|
|
Current assets |
|
$ |
604,147 |
|
|
$ |
58,975 |
|
Non-current assets |
|
|
2,909,276 |
|
|
|
1,646,508 |
|
TOTAL ASSETS |
|
$ |
3,513,423 |
|
|
$ |
1,705,483 |
|
LIABILITIES |
|
|
|
|
|
|
|
|
Current liabilities |
|
$ |
1,057,911 |
|
|
$ |
76,035 |
|
PARTNER'S EQUITY |
|
|
2,455,512 |
|
|
|
1,629,448 |
|
TOTAL LIABILITIES AND PARTNERS' EQUITY |
|
$ |
3,513,423 |
|
|
$ |
1,705,483 |
|
Investment [Table Text Block] |
A summary of the activity in investments accounted for using the cost method follows.
|
|
2012 |
|
|
2011 |
|
Investments at cost: |
|
|
|
|
|
|
|
|
Balance, beginning of year |
|
$ |
766,598 |
|
|
$ |
766,598 |
|
Impairment |
|
|
(16,598 |
) |
|
|
- |
|
New investments |
|
|
300,000 |
|
|
|
- |
|
Total |
|
$ |
1,050,000 |
|
|
$ |
766,598 |
|
|
Schedule of Cost Method Investments [Table Text Block] |
Investments at cost consist of the following at December 31, 2012 and 2011:
|
|
2012 |
|
|
2011 |
|
|
|
|
|
|
|
|
Chanticleer Investors, LLC |
|
$ |
800,000 |
|
|
$ |
500,000 |
|
Edison Nation LLC (FKA Bouncing Brain Productions) |
|
|
250,000 |
|
|
|
250,000 |
|
Chanticleer Investors II |
|
|
- |
|
|
|
16,598 |
|
|
|
$ |
1,050,000 |
|
|
$ |
766,598 |
|
|