Debt (Details Narrative) - USD ($)
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2 Months Ended |
3 Months Ended |
Mar. 06, 2020 |
Jul. 24, 2019 |
Jun. 19, 2019 |
Jan. 29, 2019 |
Feb. 21, 2020 |
Mar. 29, 2020 |
Mar. 31, 2019 |
| Interest expense |
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$ 1,622,000
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$ 1,686,000
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| Securitization Notes [Member] |
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| Debt principle amount |
$ 40,000,000
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37,309,000
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| Interest expense |
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288,000
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| Amortization of debt offering costs |
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33,000
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| Debt discount |
246,000
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| Debt offering costs |
2,440,000
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2,450,000
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| Proceeds from issuance of debt |
37,314,000
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| Original issue discount |
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241,000
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| Amortization of original issue discount |
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$ 5,000
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| Effective interest rate percentage |
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9.30%
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| Elevation Burger [Member] | Elevation Note [Member] |
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| Debt maturity date |
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Jul. 31, 2026
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| Debt, interest rate percentage |
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6.00%
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13.10%
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| Interest expense |
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$ 189,000
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| Amortization of debt offering costs |
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3,000
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| Principal amount of note |
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$ 7,509,816
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| Share price |
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$ 12.00
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| Debt outstanding amount |
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$ 6,185,000
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5,772,000
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| Debt discount |
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1,295,000
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1,078,000
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| Debt offering costs |
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30,000
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63,000
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| Amortization of debt discount |
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71,000
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| Amortization of payments per month |
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$ 110,000
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| Loan and Security Agreement [Member] |
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| Debt, interest rate percentage |
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44.30%
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20.90%
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| Increase in borrowings |
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$ 3,500,000
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| Payment for extension fee |
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$ 500,000
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| Late fee |
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$ 400,000
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| Debt, penalties and fees |
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$ 650,000
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| Interest expense |
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1,783,000
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$ 720,000
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| Amortization of debt offering costs |
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$ 212,000
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$ 32,000
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| Loan and Security Agreement [Member] | Securitization Notes [Member] |
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| Debt outstanding amount |
26,771,000
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| Loan and Security Agreement [Member] | Lion Warrant [Member] |
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| Warrant extended date, description |
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Extended the date on which the Lion Warrant was initially exercisable from October 1, 2019 to June 30, 2020, which coincided with the maturity date of the loans made under the Loan Agreement.
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| Loan and Security Agreement [Member] | Lion Fund, L.P. and The Lion Fund II, L.P [Member] |
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| Proceeds from loan |
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$ 20,000,000
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| Debt maturity date |
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Jun. 30, 2020
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| Debt, interest rate percentage |
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20.00%
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| Warrants issued to purchase shares |
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1,167,404
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| Exercise price per share |
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$ 0.01
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| Loan and Security Agreement [Member] | Lion Fund, L.P. and The Lion Fund II, L.P [Member] | FB Lending, LLC [Member] |
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| Repayment of debt |
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$ 16,000,000
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| Original beginning warrant exercise date |
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Oct. 01, 2019
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| Increase in interest rate |
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5.00%
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| Lion Loan and Security Agreement [Member] |
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| Repayment of debt |
26,771,000
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| Debt maturity date |
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Jan. 06, 2020
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| Payment for extension fee |
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$ 650,000
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| Debt principle amount |
24,000,000
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| Accrued interest |
2,120,000
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| Debt, penalties and fees |
$ 651,000
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| Management Agreement [Member] | Securitization Notes [Member] |
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| Debt description |
The Management Agreement provides for a management fee payable monthly by FAT Royalty to the Company in the amount of $200,000, subject to three percent (3%) annual increases (the “Management Fee”). The primary responsibilities of the manager are to perform certain franchising, distribution, intellectual property and operational functions on behalf of the FAT Brands Franchise Entities pursuant to the Management Agreement.
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