Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v2.4.0.6
Consolidated Statements of Operations (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenue:    
Restaurant sales, net $ 1,348,987 $ 0
Management fee income - non-affiliates 25,000 416,667
Management fee income - affiliates 0 24,646
Total revenue 1,373,987 441,313
Expenses:    
Restaurant cost of sales 496,549 0
Restaurant operating expenses 615,769 0
Restaurant pre-opening expenses 66,120 0
General and administrative expense 481,273 224,458
Depreciation and amortization 108,612 2,549
Total expenses 1,768,323 227,007
Earnings (loss) from operations (394,336) 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 (177,218) (18,759)
Total other income (expense) (187,756) 10,991
Net earnings (loss) before income taxes (582,092) 225,297
Provision for income taxes 3,816 0
Net earnings (loss) before non-controlling interest (585,908) 225,297
Non-controlling interest 17,795 410
Net earnings (loss) (568,113) 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) (1,279) 0
Other comprehensive income (loss) $ (675,010) $ 211,707
Net earnings (loss) per share, basic and diluted (in dollars per share) $ (0.23) $ 0.11
Weighted average shares outstanding (in shares) 2,498,891 2,053,269