Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS, NET (Tables)

v3.23.2
INTANGIBLE ASSETS, NET (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF GOODWILL

A roll forward of goodwill is as follows:

 

(in thousands)   December 31, 2022     December 31, 2021  
    Year Ended  
(in thousands)   December 31, 2022     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:

 

SCHEDULE OF FINITE - LIVED INTANGIBLE ASSETS

(in thousands)      

December 31,

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  
          2,850       3,260  
Acquired Franchise Rights:                    
BGR: The Burger Joint   7 years     828       828  
PizzaRev   5 years     —       410  
          828       1,238  
Total intangibles at cost         3,678       4,498  
Accumulated amortization         (1,369 )     (1,369 )
Intangible assets, net       $ 2,309     $ 3,129  
SUMMARY OF AMORTIZATION EXPENSE

SUMMARY OF AMORTIZATION EXPENSE

Year ending December 31:        
2023   $ 343  
2024     458  
2025     458  
2026     458  
2027     458  
Thereafter     134  
Total   $ 2,309