Financials

v2.4.1.9
Condensed Consolidated Balance Sheets (USD $)
Mar. 31, 2015
Dec. 31, 2014
Current assets:    
Cash $ 3,324,569us-gaap_CashAndCashEquivalentsAtCarryingValue $ 245,828us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts and other receivables 309,062us-gaap_AccountsReceivableNetCurrent 313,509us-gaap_AccountsReceivableNetCurrent
Inventories 607,317us-gaap_InventoryNet 532,803us-gaap_InventoryNet
Due from related parties 45,615us-gaap_DueFromRelatedPartiesCurrent 46,015us-gaap_DueFromRelatedPartiesCurrent
Prepaid expenses and other current assets 463,575us-gaap_PrepaidExpenseAndOtherAssetsCurrent 330,745us-gaap_PrepaidExpenseAndOtherAssetsCurrent
TOTAL CURRENT ASSETS 4,750,138us-gaap_AssetsCurrent 1,468,900us-gaap_AssetsCurrent
Property and equipment, net 14,993,351us-gaap_PropertyPlantAndEquipmentNet 13,315,409us-gaap_PropertyPlantAndEquipmentNet
Goodwill 15,445,739us-gaap_Goodwill 15,617,308us-gaap_Goodwill
Intangible assets, net 6,096,665us-gaap_IntangibleAssetsNetExcludingGoodwill 3,396,503us-gaap_IntangibleAssetsNetExcludingGoodwill
Investments at fair value 35,362us-gaap_AvailableForSaleSecuritiesNoncurrent 35,362us-gaap_AvailableForSaleSecuritiesNoncurrent
Other investments 1,550,000us-gaap_OtherLongTermInvestments 1,550,000us-gaap_OtherLongTermInvestments
Deposits and other assets 486,736us-gaap_DepositsAssetsNoncurrent 408,492us-gaap_DepositsAssetsNoncurrent
TOTAL ASSETS 43,357,991us-gaap_Assets 35,791,974us-gaap_Assets
Current liabilities:    
Current maturities of long-term debt and notes payable 997,370us-gaap_LongTermDebtCurrent 1,813,647us-gaap_LongTermDebtCurrent
Current maturities of convertible notes payable, net of debt discount of $803,846 and $63,730, respectively 196,154us-gaap_ConvertibleNotesPayableCurrent 436,270us-gaap_ConvertibleNotesPayableCurrent
Derivative liability 2,080,047us-gaap_DerivativeLiabilitiesCurrent 1,945,200us-gaap_DerivativeLiabilitiesCurrent
Accounts payable and accrued expenses 6,424,712us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent 5,580,131us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent
Current maturities of capital leases payable 54,946us-gaap_CapitalLeaseObligationsCurrent 42,032us-gaap_CapitalLeaseObligationsCurrent
Deferred rent 320,043us-gaap_DeferredRentCreditCurrent 118,986us-gaap_DeferredRentCreditCurrent
Due to related parties 818,854us-gaap_DueToRelatedPartiesCurrent 1,299,083us-gaap_DueToRelatedPartiesCurrent
Deferred revenue 48,140us-gaap_DeferredRevenue   
Liabilities of discontinued operations 179,186us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation 177,393us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
TOTAL CURRENT LIABILITIES 11,119,452us-gaap_LiabilitiesCurrent 11,412,742us-gaap_LiabilitiesCurrent
Convertible notes payable, net of debt discount of $2,239,580 and $1,872,587, respectively 2,010,420us-gaap_ConvertibleLongTermNotesPayable 1,477,413us-gaap_ConvertibleLongTermNotesPayable
Capital leases payable, less current maturities 55,449us-gaap_CapitalLeaseObligationsNoncurrent 36,628us-gaap_CapitalLeaseObligationsNoncurrent
Deferred rent 2,206,681us-gaap_DeferredRentCreditNoncurrent 2,196,523us-gaap_DeferredRentCreditNoncurrent
Deferred tax liabilities 652,552us-gaap_DeferredTaxLiabilitiesNoncurrent 686,884us-gaap_DeferredTaxLiabilitiesNoncurrent
Long-term debt, less current maturities, net of debt discount of $300,766 and$ 343,733, respectively 5,654,506us-gaap_LongTermDebtNoncurrent 5,009,283us-gaap_LongTermDebtNoncurrent
TOTAL LIABILITIES 21,699,060us-gaap_Liabilities 20,819,473us-gaap_Liabilities
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 12,306,230 and 7,249,442 shares at March 31, 2015 and December 31, 2014, respectively 1,231us-gaap_CommonStockValue 725us-gaap_CommonStockValue
Additional paid in capital 42,983,138us-gaap_AdditionalPaidInCapitalCommonStock 32,601,400us-gaap_AdditionalPaidInCapitalCommonStock
Accumulated other comprehensive loss (2,943,936)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (1,657,908)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Non-controlling interest 4,762,686us-gaap_MinorityInterest 4,904,471us-gaap_MinorityInterest
Accumulated deficit (23,144,188)us-gaap_RetainedEarningsAccumulatedDeficit (20,876,187)us-gaap_RetainedEarningsAccumulatedDeficit
TOTAL STOCKHOLDERS' EQUITY 21,658,931us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 14,972,501us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 43,357,991us-gaap_LiabilitiesAndStockholdersEquity $ 35,791,974us-gaap_LiabilitiesAndStockholdersEquity
v2.4.1.9
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Revenue:    
Restaurant sales, net $ 8,421,842hotr_RestaurantRevenues $ 5,268,468hotr_RestaurantRevenues
Gaming income, net 132,027hotr_GamingSalesNet 55,511hotr_GamingSalesNet
Management fee income - non-affiliates 101,221us-gaap_OtherSalesRevenueNet 25,000us-gaap_OtherSalesRevenueNet
Franchise income 16,059us-gaap_FranchiseRevenue   
Total revenue 8,671,149us-gaap_Revenues 5,348,979us-gaap_Revenues
Expenses:    
Restaurant cost of sales 2,961,658hotr_RestaurantCost 1,876,926hotr_RestaurantCost
Restaurant operating expenses 5,068,139us-gaap_OperatingExpenses 3,103,526us-gaap_OperatingExpenses
Restaurant pre-opening expenses 206,747us-gaap_PreOpeningCosts   
General and administrative expenses 1,898,353us-gaap_GeneralAndAdministrativeExpense 1,608,583us-gaap_GeneralAndAdministrativeExpense
Depreciation and amortization 438,637us-gaap_DepreciationAndAmortization 344,611us-gaap_DepreciationAndAmortization
Total expenses 10,573,534us-gaap_CostsAndExpenses 6,933,646us-gaap_CostsAndExpenses
Loss from operations (1,902,385)us-gaap_OperatingIncomeLoss (1,584,667)us-gaap_OperatingIncomeLoss
Other (expense) income    
Interest expense (704,852)us-gaap_InterestExpense (336,830)us-gaap_InterestExpense
Change in fair value of derivative liabilities 338,053us-gaap_DerivativeGainLossOnDerivativeNet 432,100us-gaap_DerivativeGainLossOnDerivativeNet
Loss on extinguishment of debt (170,089)us-gaap_GainsLossesOnExtinguishmentOfDebt   
Realized gains on securities    97,345us-gaap_MarketableSecuritiesRealizedGainLoss
Equity in losses of investments    (40,694)us-gaap_IncomeLossFromEquityMethodInvestments
Other (expense) income (1,533)us-gaap_InterestAndOtherIncome 3,336us-gaap_InterestAndOtherIncome
Total other (expense) income (538,421)us-gaap_NonoperatingIncomeExpense 155,257us-gaap_NonoperatingIncomeExpense
Loss from continuing operations before income taxes (2,440,806)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (1,429,410)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax benefit (32,920)us-gaap_IncomeTaxExpenseBenefit (8,888)us-gaap_IncomeTaxExpenseBenefit
Loss from continuing operations (2,407,886)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest (1,420,522)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Loss from discontinued operations, net of taxes (1,899)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax (32,674)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Consolidated net loss (2,409,785)us-gaap_ProfitLoss (1,453,196)us-gaap_ProfitLoss
Less: Net loss attributable to non-controlling interest 141,784us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 2,886us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net loss attributable to Chanticleer Holdings, Inc. (2,268,001)us-gaap_NetIncomeLoss (1,450,310)us-gaap_NetIncomeLoss
Net loss attributable to Chanticleer Holdings, Inc.:    
Loss from continuing operations (2,266,102)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity (1,417,636)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
Loss from discontinued operations (1,899)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest (32,674)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
Net loss attributable to Chanticleer Holdings, Inc. (2,268,001)us-gaap_NetIncomeLoss (1,450,310)us-gaap_NetIncomeLoss
Other comprehensive loss:    
Unrealized loss on available-for-sale securities (none applies to non-controlling interest)    (11,718)us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
Foreign currency translation (loss) gain (1,286,028)us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax 35,746us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
Other comprehensive loss $ (3,554,029)us-gaap_ComprehensiveIncomeNetOfTax $ (1,426,282)us-gaap_ComprehensiveIncomeNetOfTax
Net loss attributable to Chanticleer Holdings, Inc. per common share, basic and diluted:    
Continuing operations attributable to common shareholders, basic and diluted $ (0.27)us-gaap_EarningsPerShareBasic $ (0.24)us-gaap_EarningsPerShareBasic
Discontinued operations attributable to common shareholders, basic and diluted $ 0.00us-gaap_EarningsPerShareDiluted $ (0.01)us-gaap_EarningsPerShareDiluted
Weighted average shares outstanding, basic and diluted 8,249,453us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 5,974,495us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
v2.4.1.9
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net loss $ (2,409,785)us-gaap_ProfitLoss $ (1,453,196)us-gaap_ProfitLoss
Less net loss attributable to non-controlling interest 141,784us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 2,886us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net loss attributable to Chanticleer Holdings, Inc (2,268,001)us-gaap_NetIncomeLoss (1,450,310)us-gaap_NetIncomeLoss
Net loss from discontinued operations 1,899us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 32,674us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Net loss from continuing operations (2,266,102)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity (1,417,636)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 438,637us-gaap_DepreciationAndAmortization 344,611us-gaap_DepreciationAndAmortization
Equity in losses of investments    40,694us-gaap_IncomeLossFromEquityMethodInvestments
Common stock issued for services 83,725us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 228,857us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Amortization of debt discount 474,874us-gaap_AmortizationOfDebtDiscountPremium 259,442us-gaap_AmortizationOfDebtDiscountPremium
Amortization of warrants 22,375hotr_AmortizationOfWarrants 22,375hotr_AmortizationOfWarrants
Change in fair value of derivative liabilities (338,053)us-gaap_DerivativeGainLossOnDerivativeNet (432,100)us-gaap_DerivativeGainLossOnDerivativeNet
Change in operating assets and liabilities    
Decrease in amounts payable to affiliate (479,830)us-gaap_IncreaseDecreaseInDueFromAffiliatesCurrent   
Decrease in accounts and other receivables 19,743us-gaap_IncreaseDecreaseInAccountsReceivable 57,775us-gaap_IncreaseDecreaseInAccountsReceivable
(Increase) decrease in prepaid expenses and other assets (85,204)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 9,293us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Decrease in inventory 41,790us-gaap_IncreaseDecreaseInInventories 85,879us-gaap_IncreaseDecreaseInInventories
Increase in accounts payable and accrued expenses 635,776us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 49,788us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Decrease (increase) in deferred rent (78,785)us-gaap_IncreaseDecreaseInPrepaidRent 1,688us-gaap_IncreaseDecreaseInPrepaidRent
Decrease in deferred income taxes (32,920)us-gaap_IncreaseDecreaseInOtherDeferredLiability (26,550)us-gaap_IncreaseDecreaseInOtherDeferredLiability
Net cash used in operating activities from continuing operations (1,563,974)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (775,884)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Net cash used in operating activities from discontinued operations (4,500)us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations (73,621)us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
Net cash used in operating activities (1,568,474)us-gaap_NetCashProvidedByUsedInOperatingActivities (849,505)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Purchase of property and equipment (262,764)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (67,702)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Cash paid for acquisitions, net of cash acquired (4,222,929)us-gaap_CashAcquiredFromAcquisition 23,910us-gaap_CashAcquiredFromAcquisition
Purchase of investments    (100,000)us-gaap_PaymentsToAcquireInvestments
Net cash used in investing activities from continuing operations (4,485,693)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (143,792)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 7,062,715us-gaap_ProceedsFromIssuanceOfCommonStock 29,250us-gaap_ProceedsFromIssuanceOfCommonStock
Loan proceeds 2,204,369us-gaap_ProceedsFromIssuanceOfLongTermDebt 993,088us-gaap_ProceedsFromIssuanceOfLongTermDebt
Loan repayments (137,079)us-gaap_RepaymentsOfOtherLongTermDebt (72,328)us-gaap_RepaymentsOfOtherLongTermDebt
Capital lease payments (14,271)us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations   
Net cash provided by financing activities from continuing operations 9,115,733us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 950,010us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash 17,174us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 35,746us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase (decrease) in cash 3,078,741us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (7,541)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash, beginning of period 245,828us-gaap_CashAndCashEquivalentsAtCarryingValue 442,694us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash, end of period 3,324,569us-gaap_CashAndCashEquivalentsAtCarryingValue 435,153us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid for interest and income taxes:    
Interest 315,476us-gaap_InterestPaid 30,038us-gaap_InterestPaid
Income taxes    1,776us-gaap_IncomeTaxesPaid
Non-cash investing and financing activities:    
Purchase of equipment using capital leases 50,087hotr_PurchaseOfEquipmentUsingCapitalLeases   
Issuance of stock in connection with business combinations 1,000,000hotr_IssuanceOfStockAndWarrantsInConnectionWithBusinessCombinations   
Debt discount for fair value of warrants and conversion feature issued in connection with debt 1,233,908hotr_DebtDiscountForFairValueOfWarrantsAndConversionFeatureIssuedInConnectionWithDebt   
Reclassification of derivative liability to equity 306,000hotr_ReclassificationOfDerivativeLiabilityToEquity   
Convertible debt settled through issuance of common stock 507,428hotr_ConvertibleDebtSettledThroughIssuanceOfCommonStock   
Long-term debt settled through issuance of common stock 100,000hotr_LongtermDebtSettledThroughIssuanceOfCommonStock   
Purchases of businesses:    
Current assets excluding cash 200,549hotr_NoncashOrPartNoncashAcquisitionCurrentAssetsExcludingCash 201,895hotr_NoncashOrPartNoncashAcquisitionCurrentAssetsExcludingCash
Property and equipment 2,154,023us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1 3,122,493us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
Goodwill 426,038us-gaap_GoodwillAcquiredDuringPeriod 2,671,649us-gaap_GoodwillAcquiredDuringPeriod
Trade name/trademarks/franchise fees 2,750,000us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1 60,937us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
Deposits and other assets 56,921us-gaap_NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1 25,468us-gaap_NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
Liabilities assumed (364,602)us-gaap_NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1 (1,128,046)us-gaap_NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
Common stock issued (1,000,000)hotr_NonCashCommonStockIssued (4,978,306)hotr_NonCashCommonStockIssued
Cash paid (4,233,929)hotr_CashPaid   
Cash received in excess of cash paid in acquisition $ 11,000hotr_CashReceivedInExcessOfCashPaidForNoncashTransactionInAcquisition $ 23,910hotr_CashReceivedInExcessOfCashPaidForNoncashTransactionInAcquisition