Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Balance Sheets

v3.21.1
Condensed Consolidated and Combined Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash $ 2,356,382 $ 678,468
Restricted cash 850,000 1,250,336
Investments 416,974 413,268
Accounts and other receivables 92,632 314,043
Inventories 169,407 172,695
Prepaid expenses and other current assets 131,743 290,227
TOTAL CURRENT ASSETS 4,017,138 3,119,037
Property and equipment, net 3,172,010 3,702,894
Operating lease asset 8,598,374 9,529,443
Intangible assets, net 2,625,783 3,043,885
Goodwill 8,597,918 8,591,149
Investments 365,001 365,001
Deposits and other assets 273,577 295,930
TOTAL ASSETS 27,649,801 28,647,339
Current liabilities:    
Accounts payable and accrued expenses 8,999,966 8,667,268
Current maturities of long-term debt and notes payable 2,648,736 2,338,978
Current operating lease liabilities 5,054,829 4,209,389
Derivative liabilities 184,800
TOTAL CURRENT LIABILITIES 16,703,531 15,400,435
Long-term operating lease liabilities 9,407,194 10,677,862
Contract liabilities 777,133 794,989
Deferred tax liabilities 108,809 108,809
Long-term debt and notes payable, net of current maturities 2,186,808 539,734
Convertible debt, net of debt discount of $178,945 and $223,681 at March 31, 2021 and December 31, 2020, respectively 3,858,944 3,814,208
TOTAL LIABILITIES 33,042,419 31,336,037
Commitments and contingencies (see Note 10)  
Preferred Stock Value
Stockholders' Deficit:    
Common stock: $0.0001 par value; authorized 50,000,000 shares; 14,532,736 and 14,282,736 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively 1,453 1,428
Additional paid-in-capital 92,506,319 92,433,344
Accumulated deficit (97,135,909) (94,587,482)
Accumulated other comprehensive loss (17,124) (25,916)
Total Amergent Hospitality Group, Inc., Stockholders' Deficit (4,645,261) (2,178,626)
Non-controlling interests (1,133,965) (969,680)
TOTAL STOCKHOLDERS' DEFICIT (5,779,226) (3,148,306)
TOTAL LIABILITIES, REDEEMABLE SHARES AND STOCKHOLDERS' DEFICIT 27,649,801 28,647,339
Convertible Preferred Stock: Series 2 [Member]    
Current liabilities:    
Preferred Stock Value $ 386,608 $ 459,608