Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v2.4.0.6
Consolidated Statements of Operations and Comprehensive Loss (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Revenue:    
Restaurant sales, net $ 6,752,323 $ 980,247
Management fee income - non-affiliates 100,000 493,167
Management fee income - affiliates 30,743 3,235
Total revenue 6,883,066 1,476,649
Expenses:    
Restaurant cost of sales 2,761,949 504,971
Restaurant operating expenses 3,785,034 598,225
Restaurant pre-opening expenses 204,126 0
General and administrative expense 2,618,368 1,249,749
Depreciation and amortization 383,454 79,542
Total expenses 9,752,931 2,432,487
Loss from operations (2,869,865) (955,838)
Other income (expense)    
Equity in earnings (losses) of investments (14,803) (76,113)
Realized (losses) gains from sales of investments (16,598) 94,353
Interest and other income 864 5,017
Interest expense (474,926) (183,467)
Other than temporary decline in available-for-sale securities 0 (147,973)
Total other expense (505,463) (308,183)
Net loss before income taxes (3,375,328) (1,264,021)
Provision for income taxes 19,205 0
Net loss before non-controlling interest (3,394,533) (1,264,021)
Non-controlling interest 227,968 101,307
Net loss (3,166,565) (1,162,714)
Other comprehensive loss:    
Unrealized loss on available-for-sale securities (none applies to non-controlling interest) (261,404) (13,005)
Foreign translation gains (losses) 29,013 (4,372)
Other comprehensive loss $ (3,398,956) $ (1,180,091)
Net loss per share, basic and diluted (in dollars per share) $ (1.25) $ (0.98)
Weighted average shares outstanding (in shares) 2,541,696 1,185,018