|
INVESTMENTS (Tables)
|
3 Months Ended |
|
Mar. 31, 2013
|
| Investments, Debt and Equity Securities [Abstract] |
|
| Fair Value, by Balance Sheet Grouping [Table Text Block] |
INVESTMENTS AT FAIR VALUE CONSIST OF THE FOLLOWING AT MARCH 31, 2013 AND DECEMBER 31, 2012.
| |
|
2013 |
|
|
2012 |
|
| |
|
|
|
|
|
|
| Available-for-sale investments at fair value |
|
$ |
33,185 |
|
|
$ |
56,949 |
|
| Total |
|
$ |
33,185 |
|
|
$ |
56,949 |
|
|
| Available-For-Sale Securities Activity [Table Text Block] |
Activity in our available-for-sale securities may be summarized as follows:
| |
|
2013 |
|
|
2012 |
|
| |
|
|
|
|
|
|
| Cost at beginning and end of periods |
|
$ |
263,331 |
|
|
$ |
263,331 |
|
| Unrealized loss |
|
|
(230,146 |
) |
|
|
(206,382 |
) |
| Total |
|
$ |
33,185 |
|
|
$ |
56,949 |
|
|
| Available-for-sale Securities [Table Text Block] |
Our available-for-sale securities consist of the following:
| |
|
|
|
|
Unrecognized |
|
|
|
|
|
Realized |
|
|
Loss |
|
| |
|
|
|
|
Holding |
|
|
Fair |
|
|
Holding |
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|
on |
|
| |
|
Cost |
|
|
Losses |
|
|
Value |
|
|
Loss |
|
|
Sale |
|
| March 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| North Carolina Natural Energy |
|
|
1,500 |
|
|
|
- |
|
|
|
1,500 |
|
|
|
- |
|
|
|
- |
|
| North American Energy |
|
|
126,000 |
|
|
|
(117,600 |
) |
|
|
8,400 |
|
|
|
- |
|
|
|
- |
|
| North American Energy |
|
|
10,500 |
|
|
|
(8,700 |
) |
|
|
1,800 |
|
|
|
- |
|
|
|
- |
|
| North American Energy |
|
|
125,331 |
|
|
|
(103,846 |
) |
|
|
21,485 |
|
|
|
- |
|
|
|
- |
|
| |
|
$ |
263,331 |
|
|
$ |
(230,146 |
) |
|
$ |
33,185 |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| North Carolina Natural Energy |
|
|
1,500 |
|
|
|
- |
|
|
|
1,500 |
|
|
|
- |
|
|
|
- |
|
| North American Energy |
|
|
126,000 |
|
|
|
(111,300 |
) |
|
|
14,700 |
|
|
|
- |
|
|
|
- |
|
| North American Energy |
|
|
10,500 |
|
|
|
(7,350 |
) |
|
|
3,150 |
|
|
|
- |
|
|
|
- |
|
| North American Energy |
|
|
125,331 |
|
|
|
(87,732 |
) |
|
|
37,599 |
|
|
|
- |
|
|
|
- |
|
| |
|
$ |
263,331 |
|
|
$ |
(206,382 |
) |
|
$ |
56,949 |
|
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Other Investments Not Readily Marketable [Table Text Block] |
OTHER INVESTMENTS ARE SUMMARIZED AS FOLLOWS AT MARCH 31, 2013 AND DECEMBER 31, 2012.
| |
|
2013 |
|
|
2012 |
|
| |
|
|
|
|
|
|
| Investments accounted for under the equity method |
|
$ |
1,052,668 |
|
|
$ |
1,066,915 |
|
| Investments accounted for under the cost method |
|
|
1,050,000 |
|
|
|
1,050,000 |
|
| Total |
|
$ |
2,102,668 |
|
|
$ |
2,116,915 |
|
|
| Schedule of Equity Method Investments [Table Text Block] |
Activity in investments accounted for using the equity method is summarized as follows:
| |
|
Three Months |
|
|
Year Ended |
|
| |
|
Ended March, 31 |
|
|
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
| |
|
|
|
|
|
|
| Balance, beginning of year |
|
$ |
1,066,915 |
|
|
$ |
815,550 |
|
| Equity in earnings (loss) |
|
|
(14,247 |
) |
|
|
(14,803 |
) |
| New investments |
|
|
- |
|
|
|
409,543 |
|
| Reclassification of investments |
|
|
- |
|
|
|
(143,375 |
) |
| Balance, end of period |
|
$ |
1,052,668 |
|
|
$ |
1,066,915 |
|
Equity investments consist of the following at March 31, 2013 and December 31, 2012:
| |
|
2013 |
|
| Carrying value: |
|
|
|
|
| Hoot Campbelltown Pty. Ltd. (49%) - Australia |
|
$ |
541,084 |
|
| Second Hooters location (49%) - Australia |
|
|
511,584 |
|
| |
|
$ |
1,052,668 |
|
|
| Schedule Of Equity Earnings (Loss) and Distributions [Table Text Block] |
Equity in losses from equity investments during the three months ended March 31, 2013 and 2012 follows:
| |
|
2013 |
|
|
2012 |
|
| Equity in losses: |
|
|
|
|
|
|
| Hoot Campbelltown (49%) |
|
|
(14,247 |
) |
|
|
(10,538 |
) |
| |
|
$ |
(14,247 |
) |
|
$ |
(10,538 |
) |
|
| Schedule Of Equity Method Investment, Summarized Financial Information, Income Statement [Table Text Block] |
The summarized financial data below includes the Hoot Campbelltown location in Australia, which we owned 49% of at March 31, 2013:
| |
|
Three months ended March 31, |
|
| |
|
2013 |
|
|
2012 |
|
| Revenue |
|
$ |
634,574 |
|
|
$ |
1,108,063 |
|
| Gross profit |
|
|
444,896 |
|
|
|
781,253 |
|
| Recurring expenses |
|
|
473,972 |
|
|
|
706,147 |
|
| Pre-opening costs |
|
|
- |
|
|
|
96,613 |
|
| Loss from continuing operations |
|
|
(29,076 |
) |
|
|
(21,507 |
) |
| Net loss |
|
|
(29,076 |
) |
|
|
(21,507 |
) |
|
| Schedule Of Equity Method Investment, Summarized Financial Information, Balance Sheet [Table Text Block] |
The summarized balance sheets for the two locations in Australia of which we owned 49% at March 31, 2013 and December 31, 2012 follows:
| |
|
March 31, |
|
|
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
| ASSETS |
|
|
|
|
|
|
| Current assets |
|
$ |
549,967 |
|
|
$ |
604,147 |
|
| Non-current assets |
|
|
2,887,581 |
|
|
|
2,909,276 |
|
| TOTAL ASSETS |
|
$ |
3,437,548 |
|
|
$ |
3,513,423 |
|
| LIABILITIES |
|
|
|
|
|
|
|
|
| Current liabilities |
|
$ |
1,013,253 |
|
|
$ |
1,057,911 |
|
| PARTNER'S EQUITY |
|
|
2,424,295 |
|
|
|
2,455,512 |
|
| TOTAL LIABILITIES AND PARTNERS' EQUITY |
|
$ |
3,437,548 |
|
|
$ |
3,513,423 |
|
|
| Investment [Table Text Block] |
A summary of the activity in investments accounted for using the cost method follows.
| |
|
March 31, |
|
|
December 31, |
|
| |
|
2013 |
|
|
2012 |
|
| Investments at cost: |
|
|
|
|
|
|
| Balance, beginning of year |
|
$ |
1,050,000 |
|
|
$ |
766,598 |
|
| Impairment |
|
|
- |
|
|
|
(16,598 |
) |
| New investments |
|
|
- |
|
|
|
300,000 |
|
| Total |
|
$ |
1,050,000 |
|
|
$ |
1,050,000 |
|
|
| Schedule of Cost Method Investments [Table Text Block] |
Investments at cost consist of the following at March 31, 2013 and December 31, 2012:
| |
|
2013 |
|
|
2012 |
|
| |
|
|
|
|
|
|
| Chanticleer Investors, LLC |
|
$ |
800,000 |
|
|
$ |
800,000 |
|
| Edison Nation LLC (FKA Bouncing Brain |
|
|
|
|
|
|
|
|
| Productions) |
|
|
250,000 |
|
|
|
250,000 |
|
| |
|
$ |
1,050,000 |
|
|
$ |
1,050,000 |
|
|