Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS, NET (Tables)

v3.22.1
INTANGIBLE ASSETS, NET (Tables)
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF GOODWILL

A rollforward of goodwill is as follows:

 

                 
    Year Ended  
(in thousands)  

December 31, 2021

    

December 31, 2020

  
Beginning balance   $ 8,591     $ 8,568  
Acquisition of Pie Squared Holdings     51       —  
Sale of Hooters UK     (820 )     —  
Foreign currency translation gain (loss)     (12 )     23  
Ending balance   $ 7,810     $ 8,591  
SCHEDULE OF FINITE - LIVED INTANGIBLE ASSETS

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

 

(in thousands)       December 31, 2021     December 31, 2020  
Trademark, Tradenames:                    
American Roadside Burger   10 years   $ 561     $ 1,787  
BGR: The Burger Joint   Indefinite     739       739  
Little Big Burger   Indefinite     1,550       1,550  
PizzaRev   5 years     410       —  
          3,260       4,076  
Acquired Franchise Rights:                    
BGR: The Burger Joint   7 years     828       828  
PizzaRev   5 years     410       —  
          1,238       828  
Franchise License Fees:                    
Hooters Pacific NW   20 years     —       74  
Hooters UK   5 years     —       11  
          —       85  
Total intangibles at cost         4,498       4,989  
Accumulated amortization         (1,369 )     (1,945 )
Intangible assets, net       $ 3,129     $ 3,044  
SUMMARY OF AMORTIZATION EXPENSE

 

Year ended December 31:        
2022   $ 238  
2023     164  
2024     164  
2025     164  
2026     110  
Total   $ 840