Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.20.1
Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Schedule of Fair Value of Financial Instruments

The lowest priority, referred to as Level 3, is given to unobservable inputs. The table below reflects the level of the inputs used in the Company’s fair value calculations:

 

    Quoted
Prices in		     Significant     Significant     Total  
    Active Markets     Observable     Unobservable     Fair  
    (Level 1)     Inputs (Level 2)     Inputs (Level 3)     Value  
March 31, 2020                                
Derivative Liability - Make Whole Provision of Preferred Equity Series 2   $       -     $         -     $ 826,000     $ 826,000  

Schedule of Property and Equipment Useful Lives

The estimated useful lives used to compute depreciation and amortization are as follows:

 

Leasehold improvements   5-15 years
Restaurant furnishings and equipment   3-10 years
Furniture and fixtures   3-10 years
Office and computer equipment   3-7 years