Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Operations

v3.21.2
Condensed Consolidated and Combined Statements of Operations - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue:        
Total revenue $ 4,955,071 $ 3,918,470 $ 9,548,521 $ 9,599,708
Expenses:        
Restaurant cost of sales 1,435,192 1,162,291 2,751,114 2,960,061
Restaurant operating expenses 3,180,414 3,247,957 6,425,529 6,873,801
Restaurant pre-opening and closing expenses 20,730
General and administrative expenses 1,193,973 1,460,668 2,361,100 2,635,821
Asset impairment charge 152,470 1,287,579 152,470
Depreciation and amortization 362,350 415,778 730,005 831,609
Employee retention credit (1,473,355) (1,473,355)
Total expenses 4,698,574 6,439,164 12,081,972 13,474,492
Operating income (loss) 256,497 (2,520,694) (2,533,451) (3,874,784)
Other income (expense):        
Interest expense (158,690) (159,460) (315,931) (322,448)
Change in fair value of derivative liabilities (66,136) 6,443,380 118,664 6,141,517
Change in the fair value of investment (124,166) (953,033) (120,460) (953,033)
Debt extinguishment expense (11,808,111) (11,808,111)
Other income (expense) 143,942 (70,748) 146,558 176,308
Gain on extinguished lease liabilities 275,164 318,519
Total other income (expense) 70,114 (6,547,972) 147,350 6,765,767
Income (Loss) before income taxes 326,611 (9,068,666) (2,386,101) (10,640,551)
Income tax expense (7,352) (3,676)
Consolidated net income (loss) 326,611 (9,076,018) (2,386,101) (10,644,227)
Less: Net (income) loss attributable to non-controlling interests 59,884 (89,716) (104,401) 113,689
Net income (loss) attributable to Amergent Hospitality Group Inc. 266,727 (8,986,302) (2,281,700) (10,757,916)
Dividends on redeemable preferred stock (28,219)
Net income (loss) attributable to common shareholders of Amergent Hospitality Group Inc. $ 266,727 $ (8,986,302) $ (2,281,700) $ (10,786,135)
Net income (loss) attributable to Amergent Hospitality Group, Inc. per common share, basic: $ 0.02 $ (0.63) $ (0.15) $ (0.82)
Net income (loss) attributable to Amergent Hospitality Group, Inc. per common share, diluted: $ 0.01 $ (0.63) $ (0.15) $ (0.82)
Weighted average shares outstanding, basic 15,321,571 14,282,736 14,904,471 13,096,212
Weighted average shares outstanding, diluted 17,280,625 14,282,736 14,904,471 13,096,212
Restaurant Sales Net [Member]        
Revenue:        
Total revenue $ 4,737,867 $ 3,880,841 $ 9,182,059 $ 9,372,298
Gaming Income Net [Member]        
Revenue:        
Total revenue 111,008 29,463 168,038 129,212
Franchise Income [Member]        
Revenue:        
Total revenue 106,196 8,166 198,424 98,198
Management Fee Income [Member]        
Revenue:        
Total revenue