Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS, NET (Tables)

v3.22.2.2
INTANGIBLE ASSETS, NET (Tables)
 9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF GOODWILL

A roll forward of goodwill is as follows:

 

             
(in thousands)  

Nine months Ended

September 30, 2022

    

Year Ended

December 31, 2021

  
Beginning balance   $ 7,810     $ 8,591  
Acquisition of Pie Squared Holdings     —       51  
Sale of Hooters UK     —       (820 )
Foreign currency translation loss     —       (12 )
Ending balance   $ 7,810     $ 7,810  
SCHEDULE OF FINITE - LIVED INTANGIBLE ASSETS

Franchise and trademark/tradename intangible assets consist of the following:

 

(in thousands)       September 30, 2022     December 31, 2021  
Trademark, Tradenames:                    
American Roadside Burger   10 years   $ 561     $ 561  
BGR: The Burger Joint   Indefinite     739       739  
Little Big Burger   Indefinite     1,550       1,550  
PizzaRev   5 years     410       410  
          3,260       3,260  
Acquired Franchise Rights:                    
BGR: The Burger Joint   7 years     828       828  
PizzaRev   5 years     410       410  
          1,238       1,238  
Total intangibles at cost         4,498       4,498  
Accumulated amortization         (1,566 )     (1,369 )
Intangible assets, net       $ 2,932     $ 3,129  
SCHEDULE OF AMORTIZATION OF INTANGIBLE ASSETS

Amortization expense for the next five years is as follows (in thousands):

 

Year ending December 31:      
2022 (remaining three months)   $ 41  
2023     164  
2024     164  
2025     164  
2026     110  
 Amortization Expense, net   $ 643