Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Income Before Income Tax, Domestic and Foreign |
The breakout of the loss from continuing
operations before income taxes between domestic and foreign operations is below:
| |
|
2018 |
|
|
2017 |
|
| Loss before income taxes |
|
|
|
|
|
|
|
|
| United States |
|
$ |
(6,550,167 |
) |
|
$ |
(6,925,267 |
) |
| Foreign |
|
|
(1,350,324 |
) |
|
|
(885,397 |
) |
| |
|
$ |
(7,900,491 |
) |
|
$ |
(7,810,664 |
) |
|
| Schedule of Components of Income Tax Expense (Benefit) |
The income tax benefit for the years
ended December 31, 2018 and 2017 consists of the following:
| |
|
2018 |
|
|
2017 |
|
| Foreign |
|
|
|
|
|
|
| Current |
|
$ |
1,803 |
|
|
$ |
61,766 |
|
| Deferred |
|
|
18,216 |
|
|
|
265,809 |
|
| Change in Valuation Allowance |
|
|
(8,010 |
) |
|
|
(277,126 |
) |
| U.S. Federal |
|
|
|
|
|
|
|
|
| Current |
|
|
- |
|
|
|
- |
|
| Deferred |
|
|
(1,305,934 |
) |
|
|
2,682,311 |
|
| Change in Valuation Allowance |
|
|
291,721 |
|
|
|
(3,362,028 |
) |
| State and Local |
|
|
|
|
|
|
|
|
| Current |
|
|
- |
|
|
|
- |
|
| Deferred |
|
|
(99,938 |
) |
|
|
65,450 |
|
| Change in Valuation Allowance |
|
|
400,918 |
|
|
|
(80,611 |
) |
| |
|
$ |
(701,224 |
) |
|
$ |
(644,429 |
) |
|
| Schedule of Effective Income Tax Rate Reconciliation |
The benefit for income tax using statutory
U.S. federal tax rate of 21% is reconciled to the Company’s effective tax rate as of December 31, 2018 and 2017 is as follows:
| |
|
2018 |
|
|
2017 |
|
| Computed “expected” income tax benefit |
|
$ |
(1,659,103 |
) |
|
$ |
(2,392,649 |
) |
| State income taxes, net of federal benefit |
|
|
(99,938 |
) |
|
|
(276,243 |
) |
| Noncontrolling interest |
|
|
87,389 |
|
|
|
140,879 |
|
| Permanent Items |
|
|
147,602 |
|
|
|
4,025 |
|
| Capital loss expiration |
|
|
50,220 |
|
|
|
- |
|
| Federal expense of tax rate change |
|
|
- |
|
|
|
4,836,697 |
|
| Foreign Tax Expense |
|
|
1,803 |
|
|
|
61,766 |
|
| Other |
|
|
86,174 |
|
|
|
169,244 |
|
| Change in valuation allowance |
|
|
684,629 |
|
|
|
(3,188,148 |
) |
| |
|
$ |
(701,224 |
) |
|
$ |
(644,429 |
) |
|
| Schedule of Deferred Tax Assets and Liabilities |
Major components of deferred tax assets
at December 31, 2018 and 2017 were:
| |
|
2018 |
|
|
2017 |
|
| Net operating loss carryforwards |
|
$ |
11,106,000 |
|
|
$ |
10,279,350 |
|
| Capital loss carryforwards |
|
|
- |
|
|
|
50,226 |
|
| Section 1231 loss carryforwards |
|
|
79,869 |
|
|
|
78,176 |
|
| Charitable contribution carryforwards |
|
|
23,770 |
|
|
|
22,618 |
|
| Section 163(j) limitation |
|
|
479,264 |
|
|
|
- |
|
| Other |
|
|
91,764 |
|
|
|
10,154 |
|
| Restaurant startup expenses |
|
|
23,369 |
|
|
|
- |
|
| Accrued expenses |
|
|
159,623 |
|
|
|
68,477 |
|
| Deferred occupancy liabilities |
|
|
128,936 |
|
|
|
151,531 |
|
| Revenue recognition |
|
|
243,059 |
|
|
|
- |
|
| Total deferred tax assets |
|
|
12,335,654 |
|
|
|
10,660,532 |
|
| |
|
|
|
|
|
|
|
|
| Property and equipment |
|
|
- |
|
|
|
(72,553 |
) |
| Other asset and liability impairment |
|
|
(122,326 |
) |
|
|
(62,008 |
) |
| Investments |
|
|
(204,863 |
) |
|
|
(114,519 |
) |
| Intangibles and Goodwill |
|
|
(432,572 |
) |
|
|
(465,841 |
) |
| Total deferred tax liabilities |
|
|
(759,761 |
) |
|
|
(714,921 |
) |
| |
|
|
|
|
|
|
|
|
| Net deferred tax assets |
|
|
11,575,893 |
|
|
|
9,945,611 |
|
| Valuation allowance |
|
|
(11,652,658 |
) |
|
|
(10,724,970 |
) |
| |
|
$ |
(76,765 |
) |
|
$ |
(779,359 |
) |
|