Acquisitions (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Schedule of Sale of Subsidiary |
| Cash |
|
$ |
(1,973 |
) |
| Accounts receivable, net |
|
|
(84,653 |
) |
| Accounts receivable from CTI |
|
|
(429,171 |
) |
| Property and equipment, net |
|
|
(2,912 |
) |
| Intangible assets, net |
|
|
(13,086 |
) |
| Loans receivable from related party, net |
|
|
(2,387 |
) |
| Security deposits and other assets |
|
|
(300 |
) |
| Accounts payable and accrued expenses |
|
|
133,930 |
|
| Deferred revenue |
|
|
8,110 |
|
| Net fair value of assets and liabilities sold |
|
|
(392,442 |
) |
| Accumulated deficit |
|
|
8,272 |
|
| Subtotal |
|
|
(384,170 |
) |
| Non-controlling interest |
|
|
(71,999 |
) |
| Loss on sale of CTI |
|
$ |
(456,169 |
) |
|
| Midtown Acquisition [Member] |
|
| Schedule of Supplemental Proforma Acquired Franchisee Store |
The unaudited pro-forma financial information in the table below
summarizes the combined results of operations of the Company and the Midtown franchisee store as though the acquisition had occurred
as of January 1, 2018.
| |
|
Pro Forma
(Unaudited)
For the Year Ended
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Revenues |
|
$ |
5,822,310 |
|
|
$ |
7,190,901 |
|
| Restaurant operating expenses |
|
|
4,740,650 |
|
|
|
5,686,319 |
|
| Total cost and expenses |
|
|
9,405,961 |
|
|
|
10,681,544 |
|
| Loss from Operations |
|
|
(3,583,651 |
) |
|
|
(3,490,643 |
) |
|
| Bronx Acquisition [Member] |
|
| Schedule of Supplemental Proforma Acquired Franchisee Store |
The unaudited pro-forma financial information in the table below
summarizes the combined results of operations of the Company and the Bronx franchisee store as though the acquisition had occurred
as of January 1, 2018.
| |
|
Pro Forma
(Unaudited)
For the Year Ended
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Revenues |
|
$ |
6,045,035 |
|
|
$ |
7,434,802 |
|
| Restaurant operating expenses |
|
|
4,912,302 |
|
|
|
5,867,535 |
|
| Total cost and expenses |
|
|
9,577,613 |
|
|
|
10,862,760 |
|
| Loss from Operations |
|
|
(3,532,578 |
) |
|
|
(3,427,958 |
) |
|