Financials

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 983,211 $ 1,224,415
Accounts and other receivables 830,540 862,935
Inventories 499,452 569,545
Due from related parties 45,615 45,615
Prepaid expenses and other current assets 377,585 522,637
Assets of discontinued operations, current 1,673,507 593,430
TOTAL CURRENT ASSETS 4,409,909 3,818,576
Property and equipment, net 11,599,974 12,144,064
Goodwill 12,569,290 12,702,139
Intangible assets, net 6,635,823 6,776,936
Investments at fair value 11,480 31,322
Other investments 1,050,000 1,050,000
Deposits and other assets 297,482 292,870
Assets of discontinued operations 5,389,300
TOTAL ASSETS 36,573,958 42,205,207
Current liabilities:    
Accounts payable and accrued expenses 5,401,930 4,740,131
Current maturities of long-term debt and notes payable, net of discount of $85,930 and $171,868, respectively 6,188,874 5,383,003
Current maturities of convertible notes payable, net of debt discount of $274,345 and $914,724, respectively 3,450,656 2,810,276
Current maturities of capital leases payable 25,087 39,303
Due to related parties 209,963 12,963
Deferred rent 117,627 683,793
Derivative liabilities 102,507 1,231,608
Liabilities of discontinued operations, current 1,832,550 1,279,955
TOTAL CURRENT LIABILITIES 17,329,194 16,181,033
Long-term debt, less current maturities, net of debt discount of $0 and $171,868, respectively 303,462 1,098,641
Capital leases payable, less current maturities 9,120 15,969
Deferred rent 2,048,671 1,740,012
Liabilities of discontinued operations 58,648
Deferred tax liabilities 1,421,612 1,353,771
TOTAL LIABILITIES 21,112,060 20,448,073
Stockholders' equity:    
Preferred stock: no par value; authorized 5,000,000 shares; none issued and outstanding
Common stock: $0.0001 par value; authorized 45,000,000 shares; issued and outstanding 21,957,147 and 21,337,247 shares, respectively 2,196 2,134
Additional paid in capital 55,739,045 55,365,597
Accumulated other comprehensive loss (1,162,535) (987,695)
Non-controlling interest 510,445 389,810
Accumulated deficit (39,627,252) (33,012,712)
TOTAL STOCKHOLDERS' EQUITY 15,461,899 21,757,134
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 36,573,958 $ 42,205,207
v3.5.0.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenue:        
Restaurant sales, net $ 10,525,629 $ 8,369,369 $ 20,330,320 $ 14,788,264
Gaming income, net 97,978 71,749 197,511 166,422
Management fee income - non-affiliates 25,000 25,000 50,000 50,000
Franchise income 103,387 134,939 285,939 150,998
Total revenue 10,751,994 8,601,057 20,863,770 15,155,684
Expenses:        
Restaurant cost of sales 3,445,116 2,888,532 6,695,086 5,152,437
Restaurant operating expenses 5,737,169 4,886,651 11,252,183 8,628,027
Restaurant pre-opening and closing expenses 336,580 7,555 339,339
General and administrative expenses 1,374,835 1,803,226 3,049,714 3,512,874
Depreciation and amortization 577,942 272,306 1,148,382 619,255
Total expenses 11,135,061 10,187,295 22,152,920 18,251,932
Operating loss from continuing operations (383,067) (1,586,238) (1,289,150) (3,096,249)
Other (expense) income        
Interest expense (650,478) (1,373,797) (1,251,405) (2,078,649)
Change in fair value of derivative liabilities 513,439 232,854 1,129,101 570,907
Loss on extinguishment of debt (170,089) (170,089)
Other income (expense) (27,706) 265,542 (19,969) 103,146
Total other (expense) income (164,745) (1,045,490) (142,273) (1,574,685)
Loss from continuing operations before income taxes (547,812) (2,631,729) (1,431,424) (4,670,934)
Income tax benefit (expense) (51,405) 7,784 (85,393) 43,252
Loss from continuing operations (599,217) (2,623,945) (1,516,817) (4,627,682)
Discontinued operations        
Loss from operation of discontinued operations, net of tax (556,528) (929,503) (1,235,909) (929,503)
Loss on writedown of assets (3,876,161) (3,876,161)
Consolidated net loss (5,031,906) (3,553,448) (6,628,887) (5,557,185)
Less: Net loss (income) attributable to non-controlling interest (21,375) (2,463) 14,365 (14,523)
Net loss attributable to Chanticleer Holdings, Inc. (5,053,281) (3,555,911) (6,614,522) (5,571,708)
Net loss attributable to Chanticleer Holdings, Inc.:        
Loss from continuing operations (620,592) (2,626,408) (1,502,452) (4,642,205)
Loss from discontinued operations (4,432,689) (929,503) (5,112,070) (929,503)
Net loss attributable to Chanticleer Holdings, Inc. (5,053,281) (3,555,911) (6,614,522) (5,571,708)
Other comprehensive loss:        
Unrealized gain (loss) on available-for-sale securities (22,381) (24,501)
Foreign currency translation (loss) gain (307,543) (160,246) (109,140) (1,464,726)
Total other comprehensive loss (329,924) (160,246) (133,641) (1,464,726)
Comprehensive loss $ (5,383,205) $ (3,716,157) $ (6,748,163) $ (7,036,434)
Net loss attributable to Chanticleer Holdings, Inc. per common share, basic and diluted:        
Continuing operations attributable to common stockholders, basic and diluted $ (0.03) $ (0.21) $ (0.07) $ (0.50)
Discontinued operations attributable to common stockholders, basic and diluted $ (0.21) $ (0.07) $ (0.24) $ (0.10)
Weighted average shares outstanding, basic and diluted 21,522,818 12,455,828 21,430,033 9,314,030
v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (6,628,887) $ (5,557,185)
Net loss from discontinued operations 1,235,909 929,503
Net loss from continuing operations (1,516,817) (4,627,682)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,148,382 619,255
Loss on disposal of property and equipment 472,770
Common stock and warrants issued for services 24,510
Common stock and warrants issued for interest 349,000 186,830
Amortization of debt discount 726,317 1,592,414
Amortization of warrants 22,375
Change in assets and liabilities:    
Accounts and other receivables 32,395 78,096
Prepaid and other assets 140,440 (84,757)
Inventory 73,315 65,096
Accounts payable and accrued liabilities 502,777 161,062
Change in amounts payable to related parties 197,000 1,166
Derivative liabilities (1,129,101) (570,907)
Deferred income taxes 67,841 (68,664)
Deferred rent (257,507) (331,367)
Net cash provided by (used in) operating activities from continuing operations 358,551 (2,484,311)
Net cash used in operating activities from discontinued operations (75,000) (433,779)
Net cash provided by (used in) operating activities 283,551 (2,918,090)
Cash flows from investing activities:    
Purchase of property and equipment (392,829) (664,127)
Cash paid for acquisitions, net of cash acquired (72,215) (4,265,429)
Proceeds from sale of investments 8,902
Net cash used in investing activities from continuing operations (456,142) (4,929,556)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 8,961,213
Loan proceeds 125,000 2,204,369
Loan repayments (206,267) (760,138)
Capital lease payments (10,783) (27,405)
Contribution of non-controlling interest 46,911
Net cash (used in) provided by financing activities from continuing operations (45,139) 10,378,039
Effect of exchange rate changes on cash (23,474) (4,944)
Net increase (decrease) in cash (241,204) 2,525,449
Cash, beginning of period 1,224,415 180,534
Cash, end of period 983,211 2,705,983
Supplemental cash flow information:    
Interest 68,467 563,771
Income taxes
Non-cash investing and financing activities:    
Purchase of equipment using capital leases 50,087
Issuance of stock in connection with business combinations 1,000,000
Debt discount for fair value of warrants and conversion feature issued in connection with debt 1,233,908
Reclassification of derivative liability 306,001
Convertible debt settled through issuance of common stock 1,750,000
Long-term debt settled through issuance of common stock 100,000
Purchases of businesses:    
Current assets excluding cash 1,611 296,104
Property and equipment 2,164,023
Goodwill 70,604 663,037
Trade name/trademarks/franchise fees 2,750,000
Deposits and other assets
Liabilities assumed (607,735)
Common stock issued (1,000,000)
Cash acquired 11,000
Cash paid for acquisitions $ 72,215 $ 4,276,429