Intangible Assets, Net (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Schedule of Goodwill |
Goodwill is summarized
by location as follows:
| |
|
December 31, 2015 |
|
|
December 31, 2014 |
|
| American Burger Company |
|
$ |
2,806,990 |
|
|
$ |
2,806,990 |
|
| BGR: The Burger Joint |
|
|
663,037 |
|
|
|
- |
|
| Little Big Burger |
|
|
2,938,279 |
|
|
|
- |
|
| BTs Burger Joint |
|
|
978,350 |
|
|
|
- |
|
| Just Fresh |
|
|
425,151 |
|
|
|
425,151 |
|
| Hooters South Africa |
|
|
206,503 |
|
|
|
273,737 |
|
| Hooters Australia |
|
|
- |
|
|
|
7,291,329 |
|
| West End Wings UK |
|
|
2,733,001 |
|
|
|
2,868,192 |
|
| Hooters Pacific NW |
|
|
1,950,828 |
|
|
|
1,951,909 |
|
| Total |
|
$ |
12,702,139 |
|
|
$ |
15,617,308 |
|
|
| Summary of Changes in Carrying Amount of Goodwill |
The changes in the
carrying amount of goodwill are summarized as follows:
| |
|
Years Ended |
|
| |
|
December 31, 2015 |
|
|
December 31, 2014 |
|
| Beginning Balance |
|
$ |
15,617,308 |
|
|
$ |
6,496,756 |
|
| Acquisitions |
|
|
4,579,666 |
|
|
|
11,394,009 |
|
| Divestures |
|
|
- |
|
|
|
(698,583 |
) |
| Impairment |
|
|
(6,803,537 |
) |
|
|
- |
|
| Adjustments |
|
|
(1,081 |
) |
|
|
(169,000 |
) |
| Foreign currency translation (loss) gain |
|
|
(690,217 |
) |
|
|
(1,405,874 |
) |
| Ending Balance |
|
$ |
12,702,139 |
|
|
$ |
15,617,308 |
|
|
| Schedule of Other Intangible Assets |
Franchise and trademark/tradename
intangible assets consist of the following at December 31, 2015 and December 31, 2014.
| Intangible assets |
|
Estimated
Useful
Life
|
|
December 31, 2015 |
|
|
December 31, 2014 |
|
| Trademark, Tradenames: |
|
|
|
|
|
|
|
|
|
|
| Just Fresh |
|
10 years |
|
$ |
1,010,000 |
|
|
$ |
1,010,000 |
|
| American Roadside Burger |
|
10 years |
|
|
1,786,930 |
|
|
|
1,783,954 |
|
| BGR: The Burger Joint |
|
Indefinite |
|
|
1,430,000 |
|
|
|
- |
|
| Little Big Burger |
|
Indefinite |
|
|
1,550,000 |
|
|
|
- |
|
| |
|
|
|
|
5,776,930 |
|
|
|
2,793,954 |
|
| Franchise fees: |
|
|
|
|
|
|
|
|
|
|
| South Africa |
|
20 years |
|
|
286,732 |
|
|
|
290,986 |
|
| Europe |
|
20 years |
|
|
57,566 |
|
|
|
106,506 |
|
| Australia |
|
20 years |
|
|
353,775 |
|
|
|
383,529 |
|
| Hooters Pacific NW |
|
20 years |
|
|
90,000 |
|
|
|
90,000 |
|
| BGR: The Burger Joint |
|
Indefinite |
|
|
1,320,000 |
|
|
|
- |
|
| Chanticleer Holdings * |
|
20 years |
|
|
135,000 |
|
|
|
135,000 |
|
| |
|
|
|
|
2,243,073 |
|
|
|
1,006,021 |
|
| Total Intangibles at cost |
|
|
|
|
8,020,003 |
|
|
|
3,799,975 |
|
| Accumulated amortization |
|
|
|
|
(737,928 |
) |
|
|
(403,472 |
) |
| Intangible assets, net |
|
|
|
$ |
7,282,074 |
|
|
$ |
3,396,503 |
|
* Amortization of the Chanticleer Holdings
franchise cost (related to Brazil franchise rights) will begin with the opening of a restaurant pursuant to that franchise right.
|
| 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, |
|
|
|
|
|
|
|
|
|
|
|
|
| 2016 |
|
$ |
61,590 |
|
|
$ |
279,693 |
|
|
$ |
341,283 |
|
| 2017 |
|
|
61,590 |
|
|
|
279,693 |
|
|
|
341,283 |
|
| 2018 |
|
|
61,590 |
|
|
|
279,693 |
|
|
|
341,283 |
|
| 2019 |
|
|
61,590 |
|
|
|
279,693 |
|
|
|
341,283 |
|
| 2020 |
|
|
61,590 |
|
|
|
279,693 |
|
|
|
341,283 |
|
| Thereafter |
|
|
307,195 |
|
|
|
968,464 |
|
|
|
1,275,659 |
|
| Total |
|
$ |
615,145 |
|
|
$ |
2,366,929 |
|
|
$ |
2,982,074 |
|
|