| Schedule of Discontinued Operations Income Statement and Balance Sheet |
The carrying amount of major classes of assets
and liabilities included as part of discontinued operations are as follows:
| |
|
December 31, 2019 |
|
|
December 31, 2018 |
|
| Cash |
|
$ |
- |
|
|
$ |
106,095 |
|
| Accounts receivable |
|
|
- |
|
|
|
61,884 |
|
| Note receivable |
|
|
149,000 |
|
|
|
- |
|
| Inventory |
|
|
- |
|
|
|
143,100 |
|
| Property, plant and equipment |
|
|
- |
|
|
|
711,569 |
|
| Operating lease assets |
|
|
- |
|
|
|
- |
|
| Goodwill and intangible assets |
|
|
- |
|
|
|
1,369,456 |
|
| Other assets |
|
|
- |
|
|
|
80,729 |
|
| Total assets |
|
|
149,000 |
|
|
|
2,472,833 |
|
| |
|
|
|
|
|
|
|
|
| Accounts payable and accrued liabilities |
|
|
435,600 |
|
|
|
1,210,368 |
|
| Debt |
|
|
- |
|
|
|
76,909 |
|
| Total liabilities |
|
|
435,600 |
|
|
|
1,287,277 |
|
| |
|
|
|
|
|
|
|
|
| Net Assets of discontinued operations |
|
$ |
(286,600 |
) |
|
$ |
1,185,556 |
|
The major line items comprising the loss of
discontinued operations are as follows:
| |
|
Year Ended |
|
| |
|
December 31, 2019 |
|
|
December 31, 2018 |
|
| Restaurant revenues |
|
$ |
8,203,692 |
|
|
$ |
9,880,237 |
|
| Expenses: |
|
|
|
|
|
|
|
|
| Administrative expenses |
|
|
588,368 |
|
|
|
716,642 |
|
| Cost of sales |
|
|
3,067,867 |
|
|
|
3,586,874 |
|
| Depreciation and amortization |
|
|
252,234 |
|
|
|
346,761 |
|
| Asset impairment charge |
|
|
857,357 |
|
|
|
59,693 |
|
| Restaurant operating expenses |
|
|
4,460,078 |
|
|
|
5,156,041 |
|
| Other |
|
|
(538 |
) |
|
|
(156,829 |
) |
| |
|
|
9,225,366 |
|
|
|
9,709,182 |
|
| Income (Loss) of discontinued operations |
|
$ |
(1,021,674 |
) |
|
$ |
171,055 |
|
|