Quarterly report pursuant to Section 13 or 15(d)

Segments of Business

v3.19.1
Segments of Business
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Segments of Business

12. SEGMENTS OF BUSINESS

 

The Company is in the business of operating restaurants and its operations are organized by geographic region and by brand within each region. Further each restaurant location produces monthly financial statements at the individual store level. The Company’s chief operating decision maker reviews revenues and profitability at the individual restaurant location level, as well as for Full-Service Hooters, Better Burger Fast Casual and Just Fresh Fast Casual level, and corporate as a group.

 

The following are revenues and operating income (loss) from continuing operations by segment for the three months ended March 31, 2019 and 2018. The Company does not aggregate or review non-current assets at the segment level.

 

    Three Months Ended  
    March 31, 2019     March 31, 2018  
Revenue:                
Hooters Full Service   $ 3,346,583     $ 3,531,074  
Better Burgers Fast Casual     5,858,308       5,360,522  
Just Fresh Fast Casual     967,879       1,078,920  
Corporate and Other     25,000       25,000  
    $ 10,197,770     $ 9,995,516  
                 
Operating Income (Loss):                
Hooters Full Service   $ 9,564     $ (1,335,554 )
Better Burgers Fast Casual     (692,075 )     (211,834 )
Just Fresh Fast Casual     (29,758 )     (43,414 )
Corporate and Other     (995,769 )     (790,039 )
    $ (1,708,038 )   $ (2,380,841 )
                 
Depreciation and Amortization                
Hooters Full Service   $ 92,535     $ 106,028  
Better Burgers Fast Casual     403,732       389,282  
Just Fresh Fast Casual     45,147       44,525  
Corporate and Other     987       844  
    $ 542,401     $ 540,679  

 

The following are revenues and operating income (loss) from continuing operations by geographic region for the three months ended March 31, 2019 and 2018:

 

    Three Months Ended  
    March 31, 2019     March 31, 2018  
Revenue:                
United States   $ 8,152,739     $ 7,782,401  
South Africa     1,392,303       1,501,419  
Europe     652,728       711,696  
    $ 10,197,770     $ 9,995,516  
                 
Operating Income (Loss):                
United States   $ (1,729,350 )   $ (963,012 )
South Africa     16,594       10,546  
Europe     4,718       (1,428,375 )
    $ (1,708,038 )   $ (2,380,841 )

 

The following are non-current assets by geographic region as of March 31, 2019 and December 31, 2018:

 

Non-current Assets:   March 31, 2019     December 31, 2018  
United States   $ 41,304,116     $ 24,795,368  
South Africa     1,757,472       909,514  
Europe     3,321,593       2,413,222  
    $ 46,383,181     $ 28,118,104