v3.21.2
Condensed Consolidated and Combined Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Total revenue $ 6,358,575 $ 4,702,151 $ 15,907,096 $ 14,301,859
Expenses:        
Restaurant cost of sales 2,031,666 1,498,922 4,782,780 4,458,983
Restaurant operating expenses 3,674,755 3,448,843 10,100,284 10,322,644
Restaurant pre-opening and closing expenses 20,730
General and administrative expenses 1,394,766 1,255,918 3,755,866 3,891,739
Asset impairment charge 1,136,129 1,287,579 1,288,599
Depreciation and amortization 350,599 277,999 1,080,604 1,109,608
Employee retention credit/other grant income (1,229,831) (2,703,186)
Total expenses 6,221,955 7,617,811 18,303,927 21,092,303
Operating income (loss) 136,620 (2,915,660) (2,396,831) (6,790,444)
Other income (expense):        
Interest expense (165,775) (177,420) (481,706) (499,870)
Change in fair value of derivative liabilities (5,841,517) 118,664 300,000
Change in the fair value of investment (100,422) (199,154) (220,882) (1,152,185)
Debt extinguishment expense (11,808,111)
Other income (expense) 18,203 (25,404) 164,761 150,904
Gain on extinguished lease liabilities 66,821 385,340
Total other income (expense) (181,173) (6,243,497) (33,823) (13,009,262)
Net loss before income taxes (44,553) (9,159,155) (2,430,654) (19,799,706)
Income tax expense (44,637) (28,473) (44,637) (32,149)
Consolidated net loss (89,190) (9,187,628) (2,475,291) (19,831,855)
Less: Net loss (income) attributable to non-controlling interests (5,047) 401,529 99,354 287,840
Net loss attributable to Amergent Hospitality Group Inc. (94,237) (8,786,099) (2,375,937) (19,544,015)
Dividends on redeemable preferred stock (28,219)
Net loss attributable to common shareholders of Amergent Hospitality Group Inc. $ (94,237) $ (8,786,099) $ (2,375,937) $ (19,572,234)
Net loss attributable to Amergent Hospitality Group, Inc. per common share, basic: $ (0.01) $ (0.62) $ (0.16) $ (1.45)
Net loss attributable to Amergent Hospitality Group, Inc. per common share, diluted: $ (0.01) $ (0.62) $ (0.16) $ (1.45)
Weighted average shares outstanding, basic 15,685,540 14,282,736 15,167,688 13,516,339
Weighted average shares outstanding, diluted 15,685,540 14,282,736 15,167,688 13,516,339
Restaurant Sales Net [Member]        
Revenue:        
Total revenue $ 6,106,261 $ 4,509,082 $ 15,288,320 $ 13,881,380
Gaming Income Net [Member]        
Revenue:        
Total revenue 136,135 107,403 304,173 236,615
Franchise Income [Member]        
Revenue:        
Total revenue $ 116,179 $ 85,666 $ 314,603 $ 183,864

Source