Schedule of Operating Results From Discontinued Assets and Liabilities |
The carrying amount of major classes of assets
and liabilities included as part of discontinued operations are as follows:
|
|
June 30, 2016 |
|
|
December 31, 2015 |
|
Cash |
|
$ |
- |
|
|
$ |
303,471 |
|
Accounts receivable |
|
|
- |
|
|
|
19,328 |
|
Inventory |
|
|
- |
|
|
|
157,079 |
|
Property, plant and equipment |
|
|
- |
|
|
|
4,497,170 |
|
Goodwill and intangible assets |
|
|
- |
|
|
|
505,138 |
|
Other assets |
|
|
- |
|
|
|
500,544 |
|
Valuation allowance |
|
|
- |
|
|
|
- |
|
Total |
|
|
- |
|
|
|
5,982,730 |
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilites |
|
|
161,168 |
|
|
|
889,176 |
|
Due to affiliates |
|
|
- |
|
|
|
390,779 |
|
Deferred rent |
|
|
- |
|
|
|
58,648 |
|
Total |
|
|
161,168 |
|
|
|
1,338,603 |
|
|
|
|
|
|
|
|
|
|
Net Assets of discontinued operations |
|
$ |
(161,168 |
) |
|
$ |
4,644,127 |
|
|
Schedule of Operating Results From Discontinued Operations Pre-Tax Loss |
The major line items constituting pre-tax loss
of discontinued operations are as follows:
|
|
Nine Months Ended |
|
|
|
September 30, 2016 |
|
|
September 30, 2015 |
|
|
|
|
|
|
|
|
Revenue |
|
$ |
3,427,928 |
|
|
$ |
5,301,607 |
|
Restaurant cost of sales |
|
|
1,196,734 |
|
|
|
1,745,566 |
|
Restaurant operating expenses |
|
|
2,780,441 |
|
|
|
3,647,470 |
|
Restaurant pre-opening and closing expenses |
|
|
- |
|
|
|
258,850 |
|
General and administrative expenses |
|
|
296,343 |
|
|
|
492,620 |
|
Depreciation and amortization |
|
|
436,144 |
|
|
|
231,881 |
|
Other |
|
|
22,893 |
|
|
|
14,927 |
|
Loss of discontinued operations |
|
|
(1,304,627 |
) |
|
|
(1,089,707 |
) |
Loss on write-down of net assets |
|
|
(3,876,161 |
) |
|
|
(4,489,043 |
) |
Total pretax loss of discontinued operations |
|
|
(5,180,788 |
) |
|
|
(5,578,750 |
) |
|
|
|
|
|
|
|
|
|
Income tax |
|
|
- |
|
|
|
- |
|
Loss on discontinued operations |
|
$ |
(5,180,788 |
) |
|
$ |
(5,578,750 |
) |
|