Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v2.4.0.6
Condensed Consolidated Statements of Operations (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenue:    
Restaurant sales, net $ 1,387,495 $ 0
Management fee income - non-affiliates 25,000 416,667
Management fee income - affiliates 0 24,646
Total revenue 1,412,495 441,313
Expenses:    
Restaurant cost of sales 581,551 0
Restaurant operating expenses 769,332 0
Restaurant pre-opening expenses 40,721 0
General and administrative expense 511,522 224,458
Depreciation and amortization 80,024 2,549
Total expenses 1,983,150 227,007
Earnings (loss) from operations (570,655) 214,306
Other income (expense)    
Equity in earnings (losses) of investments (10,538) 5,103
Realized gains from sales of investments 0 19,630
Interest income 0 4,541
Miscellaneous income 0 476
Interest expense (185,110) (18,759)
Total other income (expense) (195,648) 10,991
Net earnings (loss) before income taxes (766,303) 225,297
Provision for income taxes 0 0
Net earnings (loss) before non-controlling interest (766,303) 225,297
Non-controlling interest 62,518 410
Net earnings (loss) (703,785) 225,707
Other comprehensive income (loss):    
Unrealized gain (loss) on available-for-sale securities (none applies to non-controlling interest) (105,618) (14,000)
Foreign translation income (loss) (8,714) 0
Other comprehensive income (loss) $ (818,117) $ 211,707
Net earnings (loss) per share, basic and diluted (in dollars per share) $ (0.28) $ 0.11
Weighted average shares outstanding (in shares) 2,498,891 2,053,269