|
INVESTMENTS (Tables)
|
9 Months Ended |
|
Sep. 30, 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 SEPTEMBER 30, 2013 AND DECEMBER 31, 2012. | | | 2013 | | 2012 | | | | | | | | | | | | Available-for-sale investments at fair value | | $ | 12,062 | | $ | 56,949 | | | Total | | $ | 12,062 | | $ | 56,949 | |
|
| Available-For-Sale Securities Activity [Table Text Block] |
AVAILABLE-FOR-SALE SECURITIES | | | 2013 | | 2012 | | | | | | | | | | | | Cost at beginning and end of periods | | $ | 263,331 | | $ | 263,331 | | | Unrealized loss | | | (251,269) | | | (206,382) | | | Total | | $ | 12,062 | | $ | 56,949 | |
|
| Available-for-sale Securities [Table Text Block] |
Our available-for-sale securities consist of the following: | | | | | | Unrecognized | | | | | Realized | | Loss | | | | | | | | Holding | | Fair | | Holding | | on | | | | | Cost | | Losses | | Value | | Loss | | Sale | | | September 30, 2013 | | | | | | | | | | | | | | | | | | North Carolina Natural Energy | | | 1,500 | | | - | | | 1,500 | | | - | | | - | | | North American Energy | | | 126,000 | | | (123,200) | | | 2,800 | | | - | | | - | | | North American Energy | | | 10,500 | | | (9,900) | | | 600 | | | - | | | - | | | North American Energy | | | 125,331 | | | (118,169) | | | 7,162 | | | - | | | - | | | | | $ | 263,331 | | $ | (251,269) | | $ | 12,062 | | $ | - | | $ | - | | | | | | | | | | | | | | | | | | | | | 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 SEPTEMBER 30, 2013 AND DECEMBER 31, 2012. | | | 2013 | | 2012 | | | | | | | | | | | | Investments accounted for under the equity method | | $ | 920,796 | | $ | 1,066,915 | | | Investments accounted for under the cost method | | | 1,050,000 | | | 1,050,000 | | | Total | | $ | 1,970,796 | | $ | 2,116,915 | |
|
| Schedule of Equity Method Investments [Table Text Block] |
Activity in investments accounted for using the equity method is summarized as follows: | | | September 30, | | December 31, | | | | | 2013 | | 2012 | | | | | | | | | | | | Balance, beginning of year | | $ | 1,066,915 | | $ | 815,550 | | | Equity in earnings (loss) | | | (46,184) | | | (14,803) | | | Investment fundings (repayments) | | | (99,935) | | | 409,543 | | | Reclassification of investments | | | - | | | (143,375) | | | Balance, end of period | | $ | 920,796 | | $ | 1,066,915 | |
|
| Schedule Of Equity Earnings (Loss) and Distributions [Table Text Block] |
Equity investments consist of the following at September 30, 2013 and December 31, 2012: | | | 2013 | | 2012 | | | Carrying value: | | | | | | | | | Hoot Campbelltown Pty. Ltd. (49%) - Australia | | $ | 509,147 | | $ | 555,331 | | | Second Hooters location (49%) - Australia | | | 411,649 | | | 511,584 | | | | | $ | 920,796 | | $ | 1,066,915 | |
|
| Equity Investment Losses [Table Text Block] |
Equity in losses from equity investments during the three and nine months ended September 30, 2013 and 2012 follows: | | | 2013 | | 2012 | | | | | Three Months Ended
June 30 | | Nine Months Ended
September 30 | | Three Months Ended
June 30 | | Nine Months Ended
September 30 | | | Equity in earnings (losses): | | | | | | | | | | | | | | | Hoot Campbelltown (49%) | | | (13,131) | | | (46,184) | | | 33,412 | | | (10,474) | | | | | $ | (13,131) | | $ | (46,184) | | $ | 33,412 | | $ | (10,474) | |
|
| 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 September 30, 2013: | | | 2013 | | | 2012 | | | | | Three Months Ended June 30 | | | Nine Months Ended September 30 | | | Three Months Ended June 30 | | | Nine Months Ended September 30 | | | Revenue | | $ | 562,954 | | | $ | 1,767,366 | | | $ | 762,634 | | | $ | 2,633,418 | | | Gross profit | | | 396,108 | | | | 1,306,362 | | | | 546,410 | | | | 1,873,558 | | | Recurring expenses | | | 422,905 | | | | 1,400,615 | | | | 478,221 | | | | 1,798,320 | | | Pre-opening costs | | | - | | | | - | | | | - | | | | 96,613 | | | Loss from continuing operations | | | (26,797 | ) | | | (94,253 | ) | | | 68,189 | | | | (21,375 | ) | | Net loss | | | (26,797 | ) | | | (94,253 | ) | | | 68,189 | | | | (21,375 | ) |
|
| 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 September 30, 2013 and December 31, 2012 follows: | | | September 30, | | December 31, | | | | | 2013 | | 2012 | | | ASSETS | | | | | | | | | Current assets | | $ | 189,277 | | $ | 604,147 | | | Non-current assets | | | 2,583,039 | | | 2,909,276 | | | TOTAL ASSETS | | $ | 2,772,316 | | $ | 3,513,423 | | | LIABILITIES | | | | | | | | | Current liabilities | | $ | 912,561 | | $ | 1,057,911 | | | PARTNER'S EQUITY | | | 1,859,755 | | | 2,455,512 | | | TOTAL LIABILITIES AND PARTNERS' EQUITY | | $ | 2,772,316 | | $ | 3,513,423 | |
|
| Investment [Table Text Block] |
A summary of the activity in investments accounted for using the cost method follows. | | | September 30, | | 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 September 30, 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 | |
|