Financials

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets:    
Cash $ 322,770 $ 442,694
Accounts receivable 386,145 227,181
Other receivable 44,494 50,380
Inventories 542,344 381,408
Due from related parties 108,417 116,305
Prepaid expenses and other current assets 510,694 495,165
TOTAL CURRENT ASSETS 1,914,864 1,713,133
Property and equipment, net 14,591,942 5,620,189
Goodwill 18,191,967 6,496,756
Intangible assets, net 3,751,653 3,424,632
Investments at fair value 35,362 55,112
Other investments 1,550,000 2,491,963
Deposits and other assets 463,455 285,821
TOTAL ASSETS 40,499,243 20,087,606
Current liabilities:    
Current maturities of long-term debt and notes payable 2,092,005 835,454
Current maturities of convertible note payable, net of discount of $136,908 363,092 0
Derivative liability 1,513,500 2,146,000
Accounts payable and accrued expenses 5,368,606 2,425,873
Current maturities of capital leases payable 85,728 59,162
Deferred rent 132,180 53,303
Loan payable 951,360 0
Due to related parties 186,627 12,191
TOTAL CURRENT LIABILITIES 10,693,098 5,531,983
Convertible notes payable, net of discount of $ 1,833,333 and $2,583,333, respectively 1,166,667 416,667
Capital leases payable, less current maturities 60,284 105,918
Deferred rent 1,857,763 1,055,138
Deferred tax liabilities 1,242,975 1,340,000
Long-term debt, less current maturities 5,016,715 398,906
TOTAL LIABILITIES 20,037,502 8,848,612
Commitments and contingencies (Note 10)      
Stockholders' equity:    
Common stock: $0.0001 par value; authorized 45,000,000 shares; issued and outstanding 6,978,061 and 5,387,897 shares at September 30, 2014 and December 31, 2013, respectively 700 541
Additional paid in capital 32,615,110 25,404,994
Other comprehensive income (loss) 146,880 (88,370)
Accumulated deficit (17,885,631) (14,472,816)
Non-controlling interest 5,584,682 394,645
TOTAL STOCKHOLDERS' EQUITY 20,461,741 11,238,994
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 40,499,243 $ 20,087,606
v2.4.0.8
Condensed Consolidated Statements of Operations (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenue:        
Restaurant sales, net $ 9,067,744 $ 1,581,245 $ 21,433,613 $ 4,864,410
Gaming sales income, net 141,156 0 272,391 0
Management fee income - non-affiliates 417,842 25,000 467,993 75,000
Total revenue 9,626,742 1,606,245 22,173,997 4,939,410
Expenses:        
Restaurant cost of sales 3,062,628 577,299 7,500,535 1,840,535
Restaurant operating expenses 5,197,890 920,630 12,471,771 2,833,035
Restaurant pre-opening expenses 62,293 7,337 323,274 17,538
General and administrative expenses 1,426,461 948,035 4,307,257 2,313,883
Depreciation and amortization 465,819 129,126 1,243,195 373,226
Total expenses 10,215,091 2,582,427 25,846,032 7,378,217
Loss from operations (588,349) (976,182) (3,672,035) (2,438,807)
Other income (expense)        
Equity in losses of investments 0 (13,131) (40,694) (46,184)
Gain on extinguishment of debt     0 70,900
Dividend income 438,607 0 446,445 3,785
Realized gains     101,472 0
Change in fair value of derivative liabilities 221,000 (75,900) 925,200 (75,900)
Interest expense (581,215) (383,595) (1,268,756) (438,941)
Total other income (expense) 78,392 (472,626) 163,667 (486,340)
Loss from operations before income taxes (509,957) (1,448,808) (3,508,368) (2,925,147)
(Benefit) expense for income taxes (19,726) 6,019 (27,235) 27,216
Consolidated net loss (490,231) (1,454,827) (3,481,133) (2,952,363)
Less: Net (income) loss attributable to non-controlling interest (61,209) 31,355 68,318 84,114
Net loss attributable to Chanticleer Holdings, Inc. (551,440) (1,423,472) (3,412,815) (2,868,249)
Other comprehensive income (loss):        
Unrealized loss on available-for-sale securities (none applies to non-controlling interest) 0 (7,922) (15,527) (44,887)
Foreign translation income 177,219 15,841 228,384 70,756
Other comprehensive loss $ (374,221) $ (1,415,553) $ (3,199,958) $ (2,842,380)
Net loss per attributable to Chanticleer Holdings, Inc. per common share, basic and diluted: (in dollars per share) $ (0.08) $ (0.38) $ (0.54) $ (0.77)
Weighted average shares outstanding, basic and diluted (in shares) 6,628,011 3,704,526 6,279,688 3,701,804
v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net loss $ (3,481,133) $ (2,952,363)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,243,195 373,226
Equity in losses of investments 40,694 46,184
Common stock issued for services 354,617 124,720
Amortization of debt discount 930,392 316,867
Derivative liability adjustment (925,200) 75,900
Decrease in deferred tax liability (97,025) 0
Increase in deferred rent 3,431 14,670
Amortization of warrants 152,325 272,529
Gain on debt extinguishment 0 (70,900)
Changes in operating assets and liabilities:    
(Increase) decrease in accounts and other receivables (244,553) 46,427
Decrease in prepaid expenses and other assets (107,161) (108,942)
Decrease in inventory 33,845 86,496
Increase in accounts payable and accrued expenses 3,215,111 93,397
Advance from related parties for working capital 0 52
Net cash provided by (used in) operating activities 1,118,538 (1,681,737)
Cash flows from investing activities:    
Franchise costs 0 (75,000)
Cash acquired in acquisitions 27,527 53,684
Restricted cash 0 (3,000,000)
Repayments of investments 0 98,434
Purchase of property and equipment (3,569,775) (86,919)
Net cash used in investing activities (3,542,248) (3,009,801)
Cash flows from financing activities:    
Loan proceeds 1,458,308 3,342,000
Advances from investors and partners 0 575,000
Decrease in other liabilities 0 (270,646)
Proceeds from common stock issuances 835,000 0
Subsidiary capital received 33,500 0
Capital lease and loan payments (142,906) (36,821)
Net cash provided by financing activities 2,183,902 3,609,533
Effect of exchange rate changes on cash 119,884 71,431
Net change in cash (119,924) (1,010,574)
Cash, beginning of period 442,694 1,223,803
Cash, end of period 322,770 213,229
Supplemental cash flow information:    
Interest 63,503 43,920
Income taxes 1,776 0
Non-cash investing and financing activities:    
Purchase of equipment using capital leases 0 53,943
Purchases of businesses:    
Current assets excluding cash and cash equivalents 636,894 274,211
Property and equipment 7,945,152 2,948,102
Goodwill 11,930,766 1,653,016
Trade name/trademarks/franchise fees 559,304 1,784,443
Deposits and other assets 136,025 98,035
Liabilities assumed (4,286,392) (1,490,288)
Non-controlling interest (4,753,288) 0
Chanticleer equity (6,917,682) 0
Common stock and warrants issued (5,278,306) (5,321,203)
Cash received in excess of cash paid in acquisition $ 27,527 $ 53,684