Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Balance Sheets

v3.20.2
Condensed Consolidated and Combined Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 1,561,309 $ 500,681
Restricted cash 1,250,336 336
Accounts and other receivables 100,773 131,887
Inventories 219,062 287,111
Prepaid expenses and other current assets 472,348 249,579
TOTAL CURRENT ASSETS 3,603,828 1,169,594
Property and equipment, net 4,139,625 5,630,490
Operating lease asset 10,117,900 11,668,026
Goodwill 8,541,392 8,567,888
Intangible assets, net 3,135,439 3,656,995
Investments 875,002 381,397
Deposits and other assets 294,567 309,462
Assets of discontinued operations 30,084 149,000
TOTAL ASSETS 30,737,837 31,532,852
Current liabilities:    
Accounts payable and accrued expenses 8,066,683 8,165,195
Current maturities of long-term debt and notes payable 1,717,447 6,630,961
Current operating lease liabilities 1,563,446 3,299,309
Derivative liabilities 1,195,724
TOTAL CURRENT LIABILITIES 12,543,300 18,095,465
Long-term operating lease liabilities 15,115,651 14,382,354
Deferred revenue 887,802 959,445
Deferred tax liabilities 102,304 102,304
Long-term debt and notes payable 1,301,629
Convertible debt, net of debt discount of $268,418 at September 30, 2020 3,769,472
Liabilities of discontinued operations 179,625 435,600
TOTAL LIABILITIES 33,899,783 34,684,863
Commitments and contingencies (see Note 11)
Stockholders' Deficit:    
Common stock: $0.0001 par value; authorized 50,000,000 and 45,000,000 shares; 14,282,736 and 10,404,342 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively 1,434 1,041
Additional paid-in-capital 92,433,338 71,505,989
Accumulated deficit (95,208,526) (75,068,385)
Accumulated other comprehensive loss (83,703) (46,437)
Total Amergent Hospitality Group, Inc., Stockholders' Deficit (2,857,457) (3,607,792)
Non-controlling Interests (764,097) 455,781
TOTAL STOCKHOLDERS' DEFICIT (3,621,554) (3,152,011)
TOTAL LIABILITIES, REDEEMABLE SHARES AND STOCKHOLDERS' DEFICIT 30,737,837 31,532,852
Redeemable Preferred Stock: Series 1 [Member]    
Current liabilities:    
Preferred Stock Value 709,695
Convertible Preferred Stock: Series 2 [Member]    
Current liabilities:    
Preferred Stock Value $ 459,608