Annual report pursuant to Section 13 and 15(d)

Consolidated and Combined Statements of Operations

v3.22.1
Consolidated and Combined Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenue:    
Total revenue $ 20,652 $ 18,764
Expenses:    
Restaurant cost of sales 6,172 5,750
Restaurant operating expenses 13,262 13,195
Restaurant pre-opening and closing expenses 8 288
General and administrative expenses 5,210 4,692
Asset impairment charges 1,456 1,578
Depreciation and amortization 1,047 1,525
Employee retention credit and other grant income (3,009)
Total expenses 24,146 27,028
Operating loss (3,494) (8,264)
Other income (expense):    
Interest expense (656) (684)
Change in fair value of derivative liabilities 119 616
Change in fair value of investment (244) (1,232)
Change in fair value of convertible promissory note 95
Debt extinguishment expense (11,808)
Gain on sale of subsidiary 58
Gain on extinguished lease liabilities 412 506
Other income 310 282
Total other income (expense) 94 (12,320)
Loss before income taxes (3,400) (20,584)
Income tax expense (118) (7)
Consolidated and combined net loss (3,518) (20,591)
Less: Net loss attributable to non-controlling interests 142 620
Net loss attributable to Amergent Hospitality Group, Inc. (3,376) (19,971)
Dividends on redeemable preferred stock (28)
Net loss attributable to common shareholders of Amergent Hospitality Group, Inc. $ (3,376) $ (19,999)
Net loss attributable to Amergent Hospitality Group, Inc. per common share, basic and diluted $ (0.22) $ (1.46)
Weighted average shares outstanding, basic and diluted 15,303,558 13,708,985
Restaurant Sales Net [Member]    
Revenue:    
Total revenue $ 19,797 $ 18,131
Gaming Income Net [Member]    
Revenue:    
Total revenue 403 292
Franchise Income [Member]    
Revenue:    
Total revenue $ 452 $ 341