Quarterly report pursuant to Section 13 or 15(d)

Investments (Tables)

v2.4.0.8
Investments (Tables)
6 Months Ended
Jun. 30, 2014
Investments [Abstract]  
Schedule of Equity Method Investments

Condensed financial information for Bagatelle Investors, Bagatelle NY, Bagatelle LA and One 29 Park as of, and for the periods ended June 30, 2014 and December 31, 2013 are as follows:

 

    June 30, 2014:  
    Bagatelle     Bagatelle     Bagatelle     One29  
    Investors     NY     LA     Park  
                         
Company ownership     31.24 %     5.23 %(1)     5.23 %(2)     10 %
                                 
Current assets   $ 159,962     $ 402,649     $ 83,174     $ 1,756,185  
Noncurrent assets     2,261,543       2,547,732       550,477       1,177,186  
Current liabilities     (8,939 )     328,943       (1,275,009 )     (490,320 )
Noncurrent liabilities     -       (190,871 )     (26,776 )     (4,041,694 )
Equity   $ 2,412,566     $ 3,088,453     $ (668,134 )   $ (1,598,643 )
                                 
Revenues   $ -     $ 5,913,430     $ 997,033     $ 4,591,161  
Operating income (loss)     109,779       804,210       (122,119 )     (132,150 )
Net income (loss)     109,779       701,424       (132,906 )     (135,150 )

  

    December 31, 2013:  
    Bagatelle     Bagatelle     Bagatelle     One 29  
    Investors     NY     LA     Park  
Company ownership     31.24 %     5.23 %(1)     5.23 %(2)     10 %
                                 
Current assets   $ 164,662     $ 1,628,639     $ 94,634     $ 2,136,179  
Noncurrent assets     2,944,785       2,708,504       587,861       1,182,845  
Current liabilities     (1,471 )     (707,324 )     (1,187,803 )     (750,430 )
Noncurrent liabilities     -       (171,996 )     (26,771 )     -  
Equity   $ 3,107,976     $ 3,457,823     $ (532,079 )   $ 2,568,594  

 

    June 30, 2013:  
                         
Revenues   $ -     $ 5,807,888     $ 971,084     $ 4,967,450  
Operating income (loss)     112,740       868,821       (287,289 )     (38,767 )
Net income (loss)     110,981       797,475       (294,226 )     (41,765 )

  

  (1)
This reflects the Company's direct ownership of 5.23% in Bagatelle NY. In addition, the Company has indirect ownership through Bagatelle Investors as well as one of its subsidiaries of 45.90% for a total effective ownership of 51.13%.

 

  (2)
This reflects the Company's direct ownership of 5.23% in Bagatelle LA. In addition, the Company has indirect ownership through Bagatelle Investors as well as one of its subsidiaries of 38.10% for a total effective ownership of 43.33%.