| Schedule of Goodwill |
Goodwill is summarized
by location as follows:
| |
|
September 30, 2015 |
|
|
December 31, 2014 |
|
| South Africa |
|
$ |
226,795 |
|
|
$ |
273,737 |
|
| ABC |
|
|
2,806,990 |
|
|
|
2,806,990 |
|
| WEW |
|
|
2,800,504 |
|
|
|
2,868,192 |
|
| Just Fresh |
|
|
425,151 |
|
|
|
425,151 |
|
| Australia |
|
|
- |
|
|
|
7,291,329 |
|
| Hooters Pacific NW |
|
|
1,951,909 |
|
|
|
1,951,909 |
|
| BGR: The Burger Joint |
|
|
663,037 |
|
|
|
- |
|
| Little Big Burger |
|
|
2,417,653 |
|
|
|
- |
|
| BTs Burger Joint |
|
|
977,465 |
|
|
|
- |
|
| Total |
|
$ |
12,269,504 |
|
|
$ |
15,617,308 |
|
|
| Summary of Changes in Carrying Amount of Goodwill |
The changes in the
carrying amount of goodwill are summarized as follows:
| |
|
Nine Months Ended |
|
| |
|
September 30, 2015 |
|
|
September 30, 2014 |
|
| Beginning Balance |
|
$ |
15,617,308 |
|
|
$ |
6,496,756 |
|
| Acquisitions |
|
|
4,058,155 |
|
|
|
11,000,045 |
|
| Impairment |
|
|
(6,803,537 |
) |
|
|
- |
|
| Foreign currency translation (loss) gain |
|
|
(602,422 |
) |
|
|
41,981 |
|
| Ending Balance |
|
$ |
12,269,504 |
|
|
$ |
17,538,782 |
|
|
| Schedule of Other Intangible Assets |
Other intangible
assets, consisting of franchise costs, trademarks and tradenames, is summarized by location as follows:
| Intangible assets |
|
September 30, 2015 |
|
|
December 31, 2014 |
|
| Trademark, Tradenames: |
|
|
|
|
|
|
|
|
| Just Fresh |
|
$ |
1,010,000 |
|
|
$ |
1,010,000 |
|
| American Roadside Burger |
|
|
1,786,930 |
|
|
|
1,783,954 |
|
| BGR: The Burger Joint |
|
|
1,430,000 |
|
|
|
- |
|
| Little Big Burger |
|
|
1,550,000 |
|
|
|
- |
|
| |
|
|
5,776,930 |
|
|
|
2,793,954 |
|
| Franchise fees: |
|
|
|
|
|
|
|
|
| South Africa |
|
|
316,086 |
|
|
|
290,986 |
|
| Europe |
|
|
59,129 |
|
|
|
106,506 |
|
| Australia |
|
|
353,775 |
|
|
|
383,529 |
|
| Hooters Pacific NW |
|
|
90,000 |
|
|
|
90,000 |
|
| BGR: The Burger Joint |
|
|
1,320,000 |
|
|
|
- |
|
| Chanticleer Holdings * |
|
|
135,000 |
|
|
|
135,000 |
|
| |
|
|
2,273,990 |
|
|
|
1,006,021 |
|
| Total Intangibles at cost |
|
|
8,050,920 |
|
|
|
3,799,975 |
|
| Accumulated amortization |
|
|
(508,525 |
) |
|
|
(403,472 |
) |
| Intangible assets, net |
|
$ |
7,542,395 |
|
|
$ |
3,396,503 |
|
* Amortization
of the Chanticleer franchise cost will begin with the opening of a related restaurant.
|