Commitments and Contingencies (Tables)
|
6 Months Ended |
Jun. 30, 2019 |
|---|
| Commitments and Contingencies Disclosure [Abstract] |
|
| Schedule of Supplemental Balance Sheet Information Related to Leases |
Supplemental
balance sheet information related to leases was as follows:
| Operating Leases |
|
Classification |
|
June 30, 2019 |
|
| Right-of-use assets |
|
Operating lease assets |
|
$ |
17,712,994 |
|
| |
|
|
|
|
|
|
| Current lease liabilities |
|
Current operating lease liabilities |
|
|
3,594,747 |
|
| Non-current lease liabilities |
|
Long-term operating lease liabilities |
|
|
16,800,480 |
|
| |
|
|
|
$ |
20,395,227 |
|
|
| Schedule of Lease Term and Discount Rate |
Lease
term and discount rate were as follows:
| |
|
June 30, 2019 |
|
| Weighted average remaining lease term (years) |
|
|
9.27 |
|
| Weighted average discount rate |
|
|
10 |
% |
|
| Schedule of Components of Lease Cost |
The
components of lease cost were as follows:
| |
|
Classification |
|
Six Months ended
June 30, 2019 |
|
| Operating lease cost |
|
Restaurant operating expenses and Restaurant pre-opening and closing expenses |
|
$ |
1,969,468 |
|
| Variable lease cost |
|
Restaurant operating expenses |
|
|
418,976 |
|
| |
|
|
|
$ |
2,388,444 |
|
|
| Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases |
Supplemental
disclosures of cash flow information related to leases were as follows:
| |
|
Six Months ended June 30, 2019 |
|
| Cash paid for operating leases |
|
$ |
1,978,877 |
|
| Operating lease assets obtained in exchange for operating lease liabilities (1) |
|
|
19,822,753 |
|
|
| Schedule of Operating Lease Liability Maturity |
Maturities
of lease liabilities were as follows as of June 30, 2019:
| |
|
Operating Leases |
|
| July 1, 2019 - June 30, 2020 |
|
$ |
3,761,567 |
|
| July 1, 2020 - June 30, 2021 |
|
|
3,743,669 |
|
| July 1, 2021 - June 30, 2022 |
|
|
3,698,299 |
|
| July 1, 2022 - June 30, 2023 |
|
|
3,238,152 |
|
| July 1, 2023 - June 30, 2024 |
|
|
2,876,735 |
|
| Thereafter |
|
|
14,337,079 |
|
| Total lease payments |
|
|
31,655,501 |
|
| Less: imputed interest |
|
|
11,260,274 |
|
| Present value of lease liabilities |
|
$ |
20,395,227 |
|
|