Financials

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash $ 1,178,000 $ 1,527,886
Accounts and other receivables 956,741 882,263
Inventories 646,759 726,624
Due from related parties 45,615 45,615
Prepaid expenses and other current assets 480,173 636,188
TOTAL CURRENT ASSETS 3,307,288 3,818,576
Property and equipment, net 16,409,702 16,641,232
Goodwill 12,701,022 12,702,139
Intangible assets, net 7,204,514 7,282,074
Investments at fair value 29,203 31,322
Other investments 1,050,000 1,050,000
Deposits and other assets 685,937 679,863
TOTAL ASSETS 41,387,666 42,205,206
Current liabilities:    
Accounts payable and accrued expenses 6,447,069 5,505,265
Current maturities of long-term debt and notes payable, net of discount of $128,899 and $171,868, respectively (3,130,466) (2,810,276)
Current maturities of convertible notes payable, net of debt discount of $594,394 and $914,724, respectively 3,130,466 2,810,276
Current maturities of capital leases payable 33,620 39,303
Due to related parties 597,862 403,742
Deferred rent 739,405 683,793
Derivative liabilities 615,946 1,231,608
Liabilities of discontinued operations 124,043 124,043
TOTAL CURRENT LIABILITIES $ 17,776,675 $ 16,181,032
Long-term debt, less current maturities, net of debt discount of $ 0 - and $171,868, respectively
Capital leases payable, less current maturities $ 13,059 $ 15,969
Deferred rent 1,523,556 1,798,660
Deferred tax liabilities 1,386,004 1,353,771
TOTAL LIABILITIES $ 21,018,214 $ 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 21,337,247 shares $ 2,134 $ 2,134
Additional paid in capital 55,365,597 55,365,597
Accumulated other comprehensive loss (791,412) (987,695)
Non-controlling interest 231,210 389,810
Accumulated deficit (34,438,077) (33,012,713)
TOTAL STOCKHOLDERS' EQUITY 20,369,452 21,757,133
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 41,387,666 $ 42,205,206
v3.4.0.3
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenue:    
Restaurant sales, net $ 11,310,632 $ 8,421,842
Gaming income, net 99,534 132,027
Management fee income - non-affiliates 25,000 101,221
Franchise income 182,552 16,059
Total revenue 11,617,718 8,671,149
Expenses:    
Restaurant cost of sales 3,776,795 2,961,658
Restaurant operating expenses 6,818,391 5,068,139
Restaurant pre-opening and closing expenses 7,555 206,747
General and administrative expenses 1,761,007 1,898,353
Depreciation and amortization 828,655 438,637
Total expenses 13,192,403 10,573,534
Loss from continuing operations (1,574,685) (1,902,385)
Other (expense) income    
Interest expense (609,833) (704,852)
Change in fair value of derivative liabilities $ 615,662 338,053
Loss on extinguishment of debt (170,089)
Other income (expense) $ 8,108 (1,533)
Total other (expense) income 13,937 (538,421)
Loss from continuing operations before income taxes (1,560,748) (2,440,806)
Income tax benefit (expense) (36,231) 32,920
Loss from continuing operations $ (1,596,979) (2,407,886)
Loss from discontinued operations, net of taxes (1,899)
Consolidated net loss $ (1,596,979) (2,409,785)
Less: Net loss attributable to non-controlling interest 171,615 141,784
Net loss attributable to Chanticleer Holdings, Inc. (1,425,364) (2,268,001)
Net loss attributable to Chanticleer Holdings, Inc.:    
Loss from continuing operations $ (1,425,364) (2,266,102)
Loss from discontinued operations (1,899)
Net loss attributable to Chanticleer Holdings, Inc. $ (1,425,364) $ (2,268,001)
Other comprehensive loss:    
Unrealized loss on available-for-sale securities (2,120)
Foreign currency translation (loss) gain 198,403 $ (1,286,028)
Total other comprehensive gain (loss) 196,283 (1,286,028)
Comprehensive loss $ (1,229,081) $ (3,554,029)
Net loss attributable to Chanticleer Holdings, Inc. per common share, basic and diluted:    
Continuing operations attributable to common stockholders, basic and diluted $ (0.07) $ (0.27)
Discontinued operations attributable to common stockholders, basic and diluted
Weighted average shares outstanding, basic and diluted 21,337,247 8,249,453
v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (1,596,979) $ (2,409,785)
Net loss from discontinued operations 1,899
Net loss from continuing operations $ (1,596,979) (2,407,886)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization $ 828,655 438,637
Common stock and warrants issued for services 106,100
Amortization of debt discount $ 363,159 474,874
Change in assets and liabilities:    
Accounts and other receivables (74,478) 19,743
Prepaid and other assets 149,941 (85,204)
Inventory 83,087 41,790
Accounts payable and accrued liabilities 983,713 777,560
Change in amounts payable to non-controlling interest 175,000 (479,830)
Derivative liabilities (615,662) (338,053)
Deferred income taxes 32,233 (32,920)
Deferred rent (219,492) (78,785)
Net cash provided by (used in) operating activities from continuing operations $ 109,177 (1,563,974)
Net cash used in operating activities from discontinued operations (4,500)
Net cash provided by (used in) operating activities $ 109,177 (1,568,474)
Cash flows from investing activities:    
Purchase of property and equipment (256,975) (262,764)
Cash paid for acquisitions, net of cash acquired (72,215) (4,222,929)
Net cash used in investing activities from continuing operations $ (329,190) (4,485,693)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 7,062,715
Loan proceeds 2,204,369
Loan repayments $ (136,575) (137,079)
Capital lease payments (10,783) $ (14,271)
Contribution of non-controlling interest 13,017
Net cash (used in) provided by financing activities from continuing operations (134,341) $ 9,115,734
Effect of exchange rate changes on cash 4,468 17,174
Net increase (decrease) in cash (349,886) 3,078,741
Cash, beginning of period 1,527,886 245,828
Cash, end of period 1,178,000 3,324,569
Supplemental cash flow information:    
Interest $ 31,728 $ 315,476
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
Convertible debt settled through issuance of common stock 507,428
Long-term debt settled through issuance of common stock 100,000
Purchases of businesses:    
Current assets excluding cash $ 1,611 200,549
Property and equipment 2,154,023
Goodwill $ 70,604 426,038
Trade name/trademarks/franchise fees 2,750,000
Deposits and other assets 56,921
Liabilities assumed (364,602)
Common stock issued (1,000,000)
Cash acquired 11,000
Cash paid for acquisitions $ 72,215 $ 4,233,929