Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.19.3
Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Schedule of Contract Balances

Opening and closing balances of contract liabilities and receivables from contracts with customers are as follows:

 

    September 30, 2019     December 31, 2018  
             
Accounts Receivable   $ 178,495     $ 227,056  
Royalty Receivables     -       5,307  
Gift Card Liability     81,599       87,724  
Deferred Revenue     983,488       1,174,506  
Schedule of Leases Assets and Liabilities

See the table below for the impact of adoption of Topic 842 on the Company’s balance sheet accounts as of the day of adoption, January 1, 2019:

 

    As Previously
Reported		     New Lease
Standard
Adjustment		     As Adjusted  
Operating lease assets   $ -     $ 19,823,202     $ 19,823,202  
Current operating lease liabilities     -       3,774,148       3,774,148  
Long-term operating lease liabilities     -       18,346,253       18,346,253  
Deferred rent     2,297,199       (2,297,199 )     -  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the number of common shares potentially issuable upon the exercise of certain warrants, convertible notes payable and convertible interest as of September 30, 2019 and 2018, which have been excluded from the calculation of diluted net loss per common share since the effect would be antidilutive.

 

    September 30,
2019		     September 30,
2018		  
Warrants     3,586,894       2,571,829  
Convertible notes     -       300,000  
Stock options     32,800       -  
Total     3,619,694       2,871,829