v3.20.2
Condensed Consolidated and Combined Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue:        
Total revenue $ 3,918,470 $ 8,350,940 $ 9,599,708 $ 16,188,528
Expenses:        
Restaurant cost of sales 1,162,291 2,648,289 2,960,061 5,070,364
Restaurant operating expenses 3,261,393 5,258,333 6,887,237 10,412,816
Restaurant pre-opening and closing expenses 76,713 20,730 142,888
General and administrative expenses 1,460,668 1,519,909 2,635,821 2,858,790
Asset impairment charge 273,927 1,277,590 273,927 1,369,081
Depreciation and amortization 415,778 471,956 831,609 931,313
Total expenses 6,574,057 11,252,790 13,609,385 20,785,252
Operating loss (2,655,587) (2,901,850) (4,009,677) (4,596,724)
Other (expense) income:        
Interest expense (159,460) (160,203) (322,448) (371,973)
Change in fair value of derivative liabilities 6,443,380 6,141,517
Change in fair value of investment (953,033) (953,033)
Debt extinguishment expense (11,808,111) (11,808,111)
Other expense (70,748) (343,884) (48,009) (311,374)
Total other expense (6,547,972) (504,087) (6,990,084) (683,347)
Loss before income taxes (9,203,559) (3,405,937) (10,999,761) (5,280,071)
Income tax expense (7,352) (5,829) (3,676) (56,410)
Loss from continuing operations (9,210,911) (3,411,766) (11,003,437) (5,336,481)
Discontinued operations        
Income from discontinued operations, net of tax 76,100 12,152
Consolidated net loss (9,210,911) (3,335,666) (11,003,437) (5,324,329)
Less: Net loss (income) attributable to non-controlling interests 89,716 (8,294) (39,327) 213,205
Less: Net loss attributable to non-controlling interest of discontinued operations 127,161 21,253
Net loss attributable to Amergent Hospitality Group Inc. (9,121,195) (3,216,799) (11,042,764) (5,089,871)
Dividends on redeemable preferred stock (28,006) (28,219) (55,800)
Net loss attributable to common shareholders of Amergent Hospitality Group Inc. $ (9,121,195) $ (3,244,805) $ (11,070,983) $ (5,145,671)
Net loss attributable to Amergent Hospitality Group, Inc. per common share, basic and diluted: $ (0.64) $ (0.83) $ (0.85) $ (1.34)
Weighted average shares outstanding, basic and diluted 14,282,736 3,926,879 13,096,212 3,835,661
Restaurant Sales Net [Member]        
Revenue:        
Total revenue $ 3,880,841 $ 8,018,685 $ 9,372,298 $ 15,568,531
Gaming Income Net [Member]        
Revenue:        
Total revenue 29,463 109,536 129,212 225,621
Franchise Income [Member]        
Revenue:        
Total revenue 8,166 25,000 98,198 50,000
Management Fee Income [Member]        
Revenue:        
Total revenue $ 197,719 $ 344,376

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