Commitments and Contingencies (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Commitments and Contingencies Disclosure [Abstract] |
|
| Schedule of Supplemental Balance Sheet Information Related to Leases |
Supplemental balance sheet information related
to leases was as follows:
| Operating Leases |
|
Classification |
|
December 31, 2019 |
|
| Right-of-use assets |
|
Operating lease assets |
|
$ |
11,668,026 |
|
| |
|
|
|
|
|
|
| Current lease liabilities |
|
Current operating lease liabilities |
|
|
3,299,309 |
|
| Non-current lease liabilities |
|
Long-term operating lease liabilities |
|
|
14,382,354 |
|
| |
|
|
|
$ |
17,681,663 |
|
|
| Schedule of Lease Term and Discount Rate |
Lease term and discount rate were as follows:
| |
|
December 31, 2019 |
|
| Weighted average remaining lease term (years) |
|
|
8.19 |
|
| Weighted average discount rate |
|
|
10 |
% |
|
| Schedule of Components of Lease Cost |
The components of lease cost were as follows:
| |
|
Classification |
|
Year ended
December 31, 2019
|
|
| Operating lease cost |
|
Restaurant operating expenses and Restaurant pre-opening and closing expenses |
|
$ |
3,806,745 |
|
| Variable lease cost |
|
Restaurant operating expenses |
|
|
656,254 |
|
| |
|
|
|
$ |
4,462,999 |
|
|
| Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases |
Supplemental disclosures of cash flow information
related to leases were as follows:
| |
|
Year ended
December 31, 2019
|
|
| Cash paid for operating leases |
|
$ |
3,946,783 |
|
| Operating lease assets obtained in exchange for operating lease liabilities (1) |
|
|
19,822,753 |
|
| |
(1) |
Amounts for the twelve months ended December 31, 2019 include the transition adjustment for the adoption of Topic 842 discussed in Note 2 to the consolidated financial statements. |
|
| Schedule of Operating Lease Liability Maturity |
Maturities of lease liabilities were as follows
as of December 31, 2019:
| |
|
Operating Leases |
|
| January 1, 2020 - December 31, 2020 |
|
$ |
3,276,865 |
|
| January 1, 2021 - December 31, 2021 |
|
|
3,231,537 |
|
| January 1, 2022 - December 31, 2022 |
|
|
3,153,285 |
|
| January 1, 2023 - December 31, 2023 |
|
|
2,836,188 |
|
| January 1, 2024 - December 31, 2024 |
|
|
2,754,457 |
|
| Thereafter |
|
|
12,407,558 |
|
| Total lease payments |
|
|
27,659,890 |
|
| Less: imputed interest |
|
|
9,978,227 |
|
| Present value of lease liabilities |
|
$ |
17,681,663 |
|
|