v3.20.2
Condensed Consolidated and Combined Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Total revenue $ 4,702,151 $ 7,326,013 $ 14,301,859 $ 23,514,541
Expenses:        
Restaurant cost of sales 1,498,922 2,294,045 4,458,983 7,364,409
Restaurant operating expenses 3,462,279 4,662,917 10,349,516 15,075,733
Restaurant pre-opening and closing expenses 125,000 20,730 267,888
General and administrative expenses 1,255,918 1,431,467 3,891,739 4,290,257
Asset impairment charge 1,231,352 2,637,969 1,505,279 4,007,050
Depreciation and amortization 277,999 450,098 1,109,608 1,381,411
Total expenses 7,726,470 11,601,496 21,335,855 32,386,748
Operating loss (3,024,319) (4,275,483) (7,033,996) (8,872,207)
Other (expense) income:        
Interest expense (177,422) (170,162) (499,870) (542,135)
Change in fair value of derivative liabilities (6,536,241) (394,724)
Change in the fair value of investment (199,152) (1,152,185)
Debt extinguishment expense (11,808,111)
Other income (expense) (37,390) 103,819 (85,399) (207,555)
Total other expense (6,950,205) (66,343) (13,940,289) (749,690)
Loss before income taxes (9,974,524) (4,341,826) (20,974,285) (9,621,897)
Income tax expense (28,473) (4,803) (32,149) (61,213)
Loss from continuing operations (10,002,997) (4,346,629) (21,006,434) (9,683,110)
Discontinued operations        
Income from discontinued operations, net of tax 55,344 67,496
Consolidated net loss (10,002,997) (4,291,285) (21,006,434) (9,615,614)
Less: Net loss (income) attributable to non-controlling interests 453,296 517,809 413,969 731,014
Less: Net loss attributable to non-controlling interest of discontinued operations (111,265) (90,012)
Net loss attributable to Amergent Hospitality Group Inc. (9,549,701) (3,884,741) (20,592,465) (8,974,612)
Dividends on redeemable preferred stock (28,219) (28,219) (84,019)
Net loss attributable to common shareholders of Amergent Hospitality Group Inc. $ (9,549,701) $ (3,912,960) $ (20,620,684) $ (9,058,631)
Net loss attributable to Amergent Hospitality Group, Inc. per common share, basic and diluted: $ (0.67) $ (0.39) $ (1.53) $ (1.54)
Weighted average shares outstanding, basic and diluted 14,282,736 9,939,521 13,516,339 5,892,639
Restaurant Sales Net [Member]        
Revenue:        
Total revenue $ 4,509,082 $ 7,087,199 $ 13,881,380 $ 22,655,730
Gaming Income Net [Member]        
Revenue:        
Total revenue 107,403 121,453 236,615 347,074
Franchise Income [Member]        
Revenue:        
Total revenue 85,666 117,361 183,864 461,737
Management Fee Income [Member]        
Revenue:        
Total revenue $ 50,000

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