Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 29, 2020 |
Mar. 31, 2019 |
| Revenue |
|
|
| Royalties |
$ 3,309
|
$ 3,463
|
| Franchise fees |
175
|
313
|
| Store opening fees |
|
105
|
| Advertising fees |
931
|
976
|
| Other income |
8
|
16
|
| Total revenue |
4,423
|
4,873
|
| Costs and expenses |
|
|
| General and administrative expense |
3,531
|
2,714
|
| Advertising expense |
931
|
976
|
| Refranchising loss |
539
|
518
|
| Total costs and expenses |
5,001
|
4,208
|
| (Loss) income from operations |
(578)
|
665
|
| Other expense |
|
|
| Interest expense, net of interest income of $718 and $415 due from affiliates during the thirteen weeks ended March 29, 2020 and March 31, 2019, respectively |
(1,622)
|
(1,686)
|
| Interest expense related to preferred shares |
(452)
|
(431)
|
| Other (expense) income, net |
(16)
|
24
|
| Total other expense, net |
(2,090)
|
(2,093)
|
| Loss before income tax expense (benefit) |
(2,668)
|
(1,428)
|
| Income tax expense (benefit) |
(298)
|
(718)
|
| Net loss |
$ (2,370)
|
$ (710)
|
| Basic and diluted loss per common share |
$ (0.20)
|
$ (0.06)
|
| Basic and diluted weighted average shares outstanding |
11,868,842
|
11,636,433
|