Financials

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash $ 273,378 $ 442,694
Accounts receivable 118,354 227,181
Other receivable 45,210 50,380
Inventories 475,459 381,408
Due from related parties 113,481 116,305
Prepaid expenses and other current assets 552,490 495,165
TOTAL CURRENT ASSETS 1,578,372 1,713,133
Property and equipment, net 12,697,117 5,620,189
Goodwill 9,182,241 6,496,756
Intangible assets, net 3,608,516 3,424,632
Investments at fair value 35,362 55,112
Other investments 1,550,000 2,491,963
Deposits and other assets 517,526 285,821
TOTAL ASSETS 29,169,134 20,087,606
Current liabilities:    
Current maturities of long-term debt and notes payable 1,959,579 835,454
Current maturities of convertible note payable, net of discount of $210,083 289,917 0
Derivative liability 1,734,500 2,146,000
Accounts payable and accrued expenses 3,572,145 2,425,873
Current maturities of capital leases payable 58,630 59,162
Deferred rent 111,722 53,303
Loan payable 1,571,646 0
Due to related parties 12,181 12,191
TOTAL CURRENT LIABILITIES 9,310,320 5,531,983
Convertible notes payable, net of discount of $ 2,083,333 and $2,583,333, respectively 916,667 416,667
Capital leases payable, less current maturities 73,033 105,918
Deferred rent 1,852,611 1,055,138
Deferred tax liabilities 1,275,317 1,340,000
Long-term debt, less current maturities 180,874 398,906
TOTAL LIABILITIES 13,608,822 8,848,612
Commitments and contingencies (Note 10)      
Stockholders' equity:    
Common stock: $0.0001 par value; authorized 45,000,000 shares; issued and outstanding 6,499,433 and 5,387,897 shares at June 30, 2014 and December 31, 2013, respectively 652 541
Additional paid in capital 31,159,996 25,404,994
Other comprehensive loss (30,339) (88,370)
Accumulated deficit (17,334,191) (14,472,816)
Non-controlling interest 1,764,184 394,645
TOTAL STOCKHOLDERS' EQUITY 15,560,302 11,238,994
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 29,169,124 $ 20,087,606
v2.4.0.8
Condensed Consolidated Statements of Operations (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenue:        
Restaurant sales, net $ 6,818,932 $ 1,641,043 $ 12,365,870 $ 3,283,165
Gaming sales, net 75,724 0 131,235 0
Management fee income - non-affiliates 25,151 25,000 50,151 50,000
Total revenue 6,919,807 1,666,043 12,547,256 3,333,165
Expenses:        
Restaurant cost of sales 2,454,626 635,348 4,437,907 1,263,236
Restaurant operating expenses 4,012,399 932,250 7,294,226 1,912,405
Restaurant pre-opening expenses 260,981 10,201 260,981 10,201
General and administrative expenses 1,245,660 645,648 2,860,453 1,365,848
Depreciation and amortization 412,487 129,876 777,375 244,100
Total expenses 8,386,153 2,353,323 15,630,942 4,795,790
Loss from operations (1,466,346) (687,280) (3,083,686) (1,462,625)
Other income (expense)        
Equity in losses of investments 0 (18,806) (40,694) (33,053)
Gain on extinguishment of debt     0 70,900
Realized gains 4,127 0 101,472 0
Miscellaneous income 4,552 1,263 7,838 3,825
Change in fair value of derivative liabilities 272,100 0 704,200 0
Interest expense (350,760) (18,443) (687,541) (55,386)
Total other expense (69,981) (35,986) 85,275 (13,714)
Loss from operations before income taxes (1,536,327) (723,266) (2,998,411) (1,476,339)
Expense for income taxes 1,379 12,106 (7,509) 21,197
Net loss (1,537,706) (735,372) (2,990,902) (1,497,536)
Less: Net loss attributable to non-controlling interest 126,642 28,428 129,528 52,759
Net loss attributable to Chanticleer Holdings, Inc. (1,411,064) (706,944) (2,861,374) (1,444,777)
Other comprehensive income (loss):        
Unrealized loss on available-for-sale securities (none applies to non-controlling interest) (3,809) (13,202) (15,527) (36,966)
Foreign translation income 15,419 41,400 51,165 54,916
Other comprehensive loss $ (1,399,454) $ (678,746) $ (2,825,736) $ (1,426,827)
Net loss per attributable to Chanticleer Holdings, Inc. per common share, basic and diluted: (in dollars per share) $ (0.22) $ (0.19) $ (0.47) $ (0.39)
Weighted average shares outstanding, basic and diluted (in shares) 6,329,406 3,701,928 6,152,931 3,700,420
v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net loss $ (2,990,902) $ (1,497,536)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 777,375 244,100
Equity in losses of investments 40,694 33,053
Common stock issued for services 330,757 7,720
Amortization of debt discount 582,617 0
Derivative liability adjustment (704,200) 0
Decrease in deferred tax liability (64,683) 0
Amortization of warrants 44,750 85,879
Gain on debt extinguishment 0 (70,900)
Changes in operating assets and liabilities:    
Decrease in accounts and other receivables 76,323 40,902
Decrease (increase) in prepaid expenses and other assets 437,228 (38,411)
Decrease in inventory 100,730 57,796
Increase in accounts payable and accrued expenses 449,993 1,687
Increase in deferred rent 12,693 10,262
Advance from related parties for working capital 0 (19,525)
Net cash used in operating activities (906,625) (1,144,973)
Cash flows from investing activities:    
Franchise costs 0 (75,000)
Cash acquired in acquisitions 27,527 0
Restricted cash 0 (2,750,000)
Repayments of investments 0 95,815
Purchase of property and equipment (1,629,359) (44,186)
Net cash used in investing activities (1,601,832) (2,773,371)
Cash flows from financing activities:    
Loan proceeds, net 1,458,308 342,000
Advances from investors and partners 681,801 2,750,000
Decrease in other liabilities 0 (265,932)
Proceeds from common stock issuances 200,000 0
Subsidiary capital received 33,500 0
Capital lease payments (85,633) (25,541)
Net cash provided by financing activities 2,287,976 2,800,527
Effect of exchange rate changes on cash 51,165 54,564
Net change in cash (169,316) (1,063,253)
Cash, beginning of period 442,694 1,223,803
Cash, end of period 273,378 160,550
Supplemental cash flow information:    
Interest 63,503 29,606
Income taxes 1,776 0
Purchases of businesses:    
Current assets excluding cash and cash equivalents 579,191 0
Property and equipment 6,056,800 0
Goodwill 2,671,649 0
Trade name/trademarks/franchise fees 338,804 0
Deposits and other assets 115,839 0
Liabilities assumed (2,788,756) 0
Non-controlling interest (993,999)  
Chanticleer equity (1,028,749)  
Common stock and warrants issued (4,978,306) 0
Cash received in excess of cash paid in acquisition $ 27,527 $ 0