|
Intangible Assets, Net (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Schedule of Goodwill |
Goodwill is summarized
by location as follows:
| |
|
December 31, |
|
| Goodwill |
|
2014 |
|
|
2013 |
|
| South Africa |
|
$ |
273,737 |
|
|
$ |
396,487 |
|
| ARB |
|
|
2,806,990 |
|
|
|
2,550,611 |
|
| WEW |
|
|
2,868,192 |
|
|
|
3,124,507 |
|
| Just Fresh |
|
|
425,151 |
|
|
|
425,151 |
|
| Australia |
|
|
7,291,329 |
|
|
|
- |
|
| Hootres Pacific NW |
|
|
1,951,909 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| Total |
|
$ |
15,617,308 |
|
|
$ |
6,496,756 |
|
|
| Summary of Changes in Carrying Amount of Goodwill |
The changes in the
carrying amount of goodwill are summarized as follows:
| |
|
2014 |
|
|
2013 |
|
| Beginning Balance |
|
$ |
6,496,756 |
|
|
$ |
396,487 |
|
| Acquisitions |
|
|
11,394,009 |
|
|
|
6,135,262 |
|
| Divestures |
|
|
(698,583 |
) |
|
|
- |
|
| Goodwill adjustments |
|
|
(169,000 |
) |
|
|
- |
|
| Foreign currency translation |
|
|
(1,405,874 |
) |
|
|
(34,993 |
) |
| Ending Balance |
|
$ |
15,617,308 |
|
|
$ |
6,496,756 |
|
|
| Schedule of Other Intangible Assets |
| |
|
December 31, |
|
| Intagible assets |
|
2014 |
|
|
2013 |
|
| Franchise fees: |
|
|
|
|
|
|
|
|
| South Africa |
|
$ |
290,986 |
|
|
$ |
448,888 |
|
| Europe |
|
|
106,506 |
|
|
|
106,506 |
|
| Australia |
|
|
383,529 |
|
|
|
- |
|
| Hootres Pacific NW |
|
|
59,186 |
|
|
|
- |
|
| Brazil * |
|
|
135,000 |
|
|
|
135,000 |
|
| |
|
|
975,207 |
|
|
|
690,394 |
|
| |
|
|
|
|
|
|
|
|
| Trademark, Tradenames: |
|
|
|
|
|
|
|
|
| Just Fresh |
|
|
1,010,000 |
|
|
|
1,010,000 |
|
| American Roadside Burger |
|
|
1,783,954 |
|
|
|
1,784,327 |
|
| |
|
|
2,793,954 |
|
|
|
2,794,327 |
|
| Total Intagnibles at cost |
|
|
3,769,161 |
|
|
|
3,484,721 |
|
| Accumulated amortization |
|
|
(372,658 |
) |
|
|
(60,089 |
) |
| Intangible assets, net |
|
$ |
3,396,503 |
|
|
$ |
3,424,632 |
|
| |
|
|
|
|
|
|
|
|
| Amortization expense |
|
$ |
308,412 |
|
|
$ |
21,349 |
|
* Amortization of the Brazil franchise cost will begin with
the opening of a restaurant in that market.
|
| Future Amortization for Franchise Costs and Trade Name/Trademarks |
Amortization for franchise costs and
trade name/trademarks are as follows:
| |
|
Franchise fees |
|
|
Trademark / Tradenames |
|
|
Total |
|
| December 31, |
|
|
|
|
|
|
|
|
|
|
|
|
| 2015 |
|
$ |
61,590 |
|
|
$ |
279,432 |
|
|
$ |
341,022 |
|
| 2016 |
|
|
61,590 |
|
|
|
279,432 |
|
|
|
341,022 |
|
| 2017 |
|
|
61,590 |
|
|
|
279,432 |
|
|
|
341,022 |
|
| 2018 |
|
|
61,590 |
|
|
|
279,432 |
|
|
|
341,022 |
|
| 2019 |
|
|
61,590 |
|
|
|
279,432 |
|
|
|
341,022 |
|
| Thereafter |
|
|
438,462 |
|
|
|
1,117,931 |
|
|
|
1,556,393 |
|
| Total |
|
|
746,412 |
|
|
|
2,515,091 |
|
|
|
3,261,503 |
|
|