Annual report pursuant to Section 13 and 15(d)

Consolidated and Combined Statements of Operations

v3.21.1
Consolidated and Combined Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenue:    
Total revenue $ 18,763,916 $ 30,143,118
Expenses:    
Restaurant cost of sales 5,749,876 9,494,777
Restaurant operating expenses 13,194,583 19,406,358
Restaurant pre-opening and closing expenses 287,768 361,554
General and administrative expenses 4,691,541 5,966,447
Asset impairment charge 1,578,464 9,149,852
Depreciation and amortization 1,525,367 1,842,352
Total expenses 27,027,599 46,221,340
Operating loss (8,263,683) (16,078,222)
Other (expense) income:    
Interest expense (684,315) (673,573)
Change in fair value of derivative liabilities 616,200
Change in the fair value of investment (1,232,037)
Debt extinguishment expense (11,808,111)
Gain on extinguished lease liabilities 506,185
Other income (expense) 281,293 (617,837)
Total other expense (12,320,785) (1,291,410)
Loss before income taxes (20,584,468) (17,369,632)
Income tax expense (6,505) (73,726)
Loss from continuing operations (20,590,973) (17,443,358)
Discontinued operations    
Loss from discontinued operations, net of tax (1,021,674)
Consolidated net loss (20,590,973) (18,465,032)
Less: Net loss attributable to non-controlling interests 619,552 402,386
Less: Net loss attributable to non-controlling interest of discontinued operations 336,262
Net loss attributable to Amergent Hospitality Group Inc. (19,971,421) (17,726,384)
Dividends on redeemable preferred stock (28,219) (112,238)
Net loss attributable to common shareholders of Amergent Hospitality Group Inc. $ (19,999,640) $ (17,838,622)
Net loss attributable to Amergent Hospitality Group, Inc. per common share, basic and diluted $ (1.46) $ (2.56)
Net loss attributable to Amergent Hospitality Group, Inc. before discontinued operations per common share, basic and diluted $ (1.46) $ (2.46)
Weighted average shares outstanding, basic and diluted 13,708,985 6,978,848
Restaurant Sales Net [Member]    
Revenue:    
Total revenue $ 18,131,097 $ 29,055,521
Gaming Income Net [Member]    
Revenue:    
Total revenue 292,011 462,507
Franchise Income [Member]    
Revenue:    
Total revenue 340,808 575,090
Management Fee Income [Member]    
Revenue:    
Total revenue $ 50,000