Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2022
Investments, All Other Investments [Abstract]  



Investments consist of the following:


(in thousands)   March 31, 2022     December 31, 2021  
Common stock of Sonnet, at fair value (a)   $ 46     $ 50  
Chanticleer Investors, LLC, at cost (b)     16       16  
Total   $ 62     $ 66  


  (a) Represents the fair value of the common stock of Sonnet held by the Company after its exercise of warrants received in connection with the Merger. As of March 31, 2022, 122,064 shares of Sonnet were held.
  (b) Represents the Company’s investment in Chanticleer Investors, LLC, which holds an interest in Hooters of America, the operator and franchisor of the Hooters Brand worldwide. As of the dates presented, the Company’s effective economic interest in Hooters of America was less than 1%. During the three months ended March 31, 2022, the Company received a dividend from its investment in Hooters of America of approximately $0.1 million, which is included in other income in our condensed consolidated statement of operations.