Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v2.4.0.6
Consolidated Statements of Operations (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Revenue:    
Restaurant sales, net $ 967,418 $ 0
Management fee income - non-affiliates 493,167 20,833
Management fee income - affiliates 3,235 115,468
Total revenue 1,463,820 136,301
Expenses:    
Restaurant cost of sales 360,810 0
Restaurant operating expenses 483,946 0
General and administrative expense 1,245,752 935,110
Asset impairment 0 250,000
Depreciation and amortization 87,617 11,079
Total expenses 2,178,125 1,196,189
Loss from operations (714,305) (1,059,888)
Other income (expense)    
Equity in earnings (losses) of investments (76,113) 58,337
Realized gains from sales of investments 19,991 106,035
Interest income 4,541 46,000
Miscellaneous income 476 0
Interest expense (180,825) (140,016)
Other than temporary decline in available-for-sale securities (147,973) (40,386)
Total other income (expense) (379,903) 29,970
Net loss before income taxes (1,094,208) (1,029,918)
Provision for income taxes 14,608 0
Net loss before non-controlling interest (1,108,816) (1,029,918)
Non-controlling interest 5,426 18,353
Net loss (1,103,390) (1,011,565)
Other comprehensive income (loss):    
Unrealized gain (loss) on available-for-sale securities (none applies to non-controlling interest) (13,005) 152,027
Foreign translation losses (6,357) 0
Other comprehensive loss $ (1,122,752) $ (859,538)
Net earnings (loss) per share, basic and diluted (in dollars per share) $ (0.47) $ (0.51)
Weighted average shares outstanding (in shares) 2,370,036 1,990,462