| Segment Information |
12.
SEGMENT INFORMATION
The Company is in
the business of operating restaurants and its operations are organized by geographic region and by brand within each region. Further,
each restaurant location produces monthly financial statements at the individual store level. The Company’s chief operating
decision maker reviews revenues and profitability at the at the group level comprised of: Full Service Hooters, Better Burger Fast
Casual, Just Fresh Fast Casual, and Corporate.
The following are
revenues and operating income (loss) from continuing operations by segment as of and for the periods presented. The Company does
not aggregate or review non-current assets at the segment level.
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| |
|
June 30, 2018 |
|
|
June 30, 2017 |
|
|
June 30, 2018 |
|
|
June 30, 2017 |
|
| Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hooters Full Service |
|
$ |
3,513,223 |
|
|
$ |
3,392,765 |
|
|
$ |
7,044,297 |
|
|
$ |
6,528,228 |
|
| Better Burgers Fast Casual |
|
|
5,801,499 |
|
|
|
6,010,543 |
|
|
|
11,162,021 |
|
|
|
11,326,830 |
|
| Just Fresh Fast Casual |
|
|
1,060,203 |
|
|
|
1,337,017 |
|
|
|
2,139,123 |
|
|
|
2,720,274 |
|
| Corporate and Other |
|
|
24,999 |
|
|
|
24,993 |
|
|
|
49,998 |
|
|
|
49,983 |
|
| |
|
$ |
10,399,924 |
|
|
$ |
10,765,318 |
|
|
$ |
20,395,439 |
|
|
$ |
20,625,315 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Income (Loss): (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hooters Full Service |
|
$ |
73,791 |
|
|
$ |
(546,770 |
) |
|
$ |
(1,261,764 |
) |
|
$ |
(589,616 |
) |
| Better Burgers Fast Casual |
|
|
91,303 |
|
|
|
110,488 |
|
|
|
(120,531 |
) |
|
|
(58,622 |
) |
| Just Fresh Fast Casual |
|
|
637 |
|
|
|
(109,524 |
) |
|
|
(42,777 |
) |
|
|
(45,884 |
) |
| Corporate and Other |
|
|
(586,076 |
) |
|
|
(535,648 |
) |
|
|
(1,376,115 |
) |
|
|
(1,376,720 |
) |
| |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
- |
|
| |
|
$ |
(420,345 |
) |
|
$ |
(1,081,454 |
) |
|
$ |
(2,801,187 |
) |
|
$ |
(2,070,842 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) Note that Operating Income (Loss) includes $1.7 million and $0.6 million of non-cash impairment charges for the six months ended June 30, 2018 and 2017, respectively |
|
| |
|
|
|
|
| Depreciation and Amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hooters Full Service |
|
$ |
102,145 |
|
|
$ |
142,758 |
|
|
$ |
208,173 |
|
|
$ |
278,938 |
|
| Better Burgers Fast Casual |
|
|
382,801 |
|
|
|
379,332 |
|
|
|
772,083 |
|
|
|
755,963 |
|
| Just Fresh Fast Casual |
|
|
44,525 |
|
|
|
79,726 |
|
|
|
89,050 |
|
|
|
159,452 |
|
| Corporate and Other |
|
|
843 |
|
|
|
843 |
|
|
|
1,687 |
|
|
|
1,686 |
|
| |
|
$ |
530,314 |
|
|
$ |
602,659 |
|
|
$ |
1,070,993 |
|
|
$ |
1,196,039 |
|
The following are
revenues and operating income (loss) from continuing operations and non-current assets by geographic region as of and for the periods
presented.
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| |
|
June 30, 2018 |
|
|
June 30, 2017 |
|
|
June 30, 2018 |
|
|
June 30, 2017 |
|
| Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
8,164,018 |
|
|
$ |
8,598,832 |
|
|
$ |
15,946,418 |
|
|
$ |
16,510,926 |
|
| South Africa |
|
|
1,467,909 |
|
|
|
1,482,379 |
|
|
|
2,969,328 |
|
|
|
2,866,773 |
|
| Europe |
|
|
767,997 |
|
|
|
684,107 |
|
|
|
1,479,693 |
|
|
|
1,247,616 |
|
| |
|
$ |
10,399,924 |
|
|
$ |
10,765,318 |
|
|
$ |
20,395,439 |
|
|
$ |
20,625,315 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating Income (Loss): (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| United States |
|
$ |
(505,109 |
) |
|
$ |
(1,123,771 |
) |
|
$ |
(1,468,121 |
) |
|
$ |
(2,064,843 |
) |
| South Africa |
|
|
10,649 |
|
|
|
(28,453 |
) |
|
|
21,195 |
|
|
|
(85,514 |
) |
| Europe |
|
|
74,115 |
|
|
|
70,770 |
|
|
|
(1,354,260 |
) |
|
|
79,515 |
|
| |
|
$ |
(420,345 |
) |
|
$ |
(1,081,454 |
) |
|
$ |
(2,801,187 |
) |
|
$ |
(2,070,842 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) Note that Operating Income (Loss) includes $1.7 million of non-cash impairment charges |
|
| Non-current Assets: |
|
|
June 30, 2018 |
|
|
|
December 31, 2017 |
|
| United States |
|
$ |
24,207,242 |
|
|
$ |
24,630,101 |
|
| South Africa |
|
|
1,008,561 |
|
|
|
1,203,610 |
|
| Europe |
|
|
- |
|
|
|
2,549,747 |
|
| |
|
$ |
25,215,803 |
|
|
$ |
28,383,458 |
|
|