Annual report pursuant to Section 13 and 15(d)

Consolidated and Combined Balance Sheets

v3.21.1
Consolidated and Combined Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash $ 678,468 $ 500,681
Restricted cash 1,250,336 336
Investments 413,268
Accounts and other receivables 314,043 131,887
Inventories 172,695 287,111
Prepaid expenses and other current assets 290,227 249,579
TOTAL CURRENT ASSETS 3,119,037 1,169,594
Property and equipment, net 3,702,894 5,630,490
Operating lease assets 9,529,443 11,668,026
Intangible assets, net 3,043,885 3,656,995
Goodwill 8,591,149 8,567,888
Investments 365,001 381,397
Deposits and other assets 295,930 309,462
Assets of discontinued operations 149,000
TOTAL ASSETS 28,647,339 31,532,852
Current liabilities:    
Accounts payable and accrued expenses 8,667,268 8,165,195
Current maturities of long-term debt and notes payable 2,338,978 6,630,961
Current operating lease liabilities 4,209,389 3,299,309
Derivative liabilities 184,800
TOTAL CURRENT LIABILITIES 15,400,435 18,095,465
Long-term operating lease liabilities 10,677,862 14,382,354
Contract liabilities 794,989 959,445
Deferred tax liabilities 108,809 102,304
Long-term debt and notes payable, net of current maturities 539,734
Convertible debt, net of debt discount of $223,681 at December 31, 2020 3,814,208
Liabilities of discontinued operations 435,600
TOTAL LIABILITIES 31,336,037 34,684,863
Commitments and contingencies (see Note 12)
Stockholders' Deficit:    
Common stock: $0.0001 par value; authorized 50,000,000 and 45,000,000 shares; 14,282,736 and 10,404,347 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively 1,428 1,041
Additional paid-in-capital 92,433,344 71,505,989
Accumulated deficit (94,587,482) (75,068,385)
Accumulated other comprehensive loss (25,916) (46,437)
Total Amergent Hospitality Group, Inc., Stockholders' Deficit (2,178,626) (3,607,792)
Non-controlling interests (969,680) 455,781
TOTAL STOCKHOLDERS' DEFICIT (3,148,306) (3,152,011)
TOTAL LIABILITIES, REDEEMABLE SHARES AND STOCKHOLDERS' DEFICIT 28,647,339 31,532,852
Redeemable Preferred Stock: Series 1 [Member]    
Current liabilities:    
Redeemable preferred stock Series 1: no par value; 0 and 62,876 shares issued and outstanding, net of discount of $0 and $139,131 at December 31, 2020 and December 31, 2019, respectively 709,695
Convertible Preferred Stock: Series 2 [Member]    
Current liabilities:    
Preferred Stock Value $ 459,608