Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.5.0.2
Segment reporting
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Segment reporting
Segment reporting:

The Company operates in three segments: owned STK units ("STKs"), F&B hospitality management agreements ("F&B") and Other concepts ("Other"). We believe STKs, F&B and Other to be our reportable segments as they do not have similar economic or other characteristics to be aggregated into a single reportable segment. Our STKs segment consists of leased restaurant locations and competes in the full service dining industry. Our F&B segment consists of management agreements in which the Company operates the food and beverage services in hotels or casinos and could include an STK, which we refer to as managed STK units. We refer to owned STK units and managed STK units together as “STK units.” These management agreements generate management and incentive fees on net revenue at each location. Our Other segment includes owned non-STK leased locations.
  

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
Revenues:
 
 
 
 
 

 
 

STKs
$
15,282,704

 
$
12,757,574

 
$
28,963,134

 
$
22,121,012

F&B
1,943,952

 
2,121,977

 
3,958,003

 
4,173,253

Other
—

 
21,351

 
699,500

 
383,214

 
 
 
 
 
 
 
 
 
$
17,226,656

 
$
14,900,902

 
$
33,620,637

 
$
26,677,479

 
 
 
 
 
 
 
 
Segment Profits (loss):
 
 
 
 
 
 
 

STKs
$
1,983,811

 
$
1,466,957

 
$
3,172,474

 
$
1,602,484

F&B
1,943,952

 
2,121,977

 
3,958,003

 
4,173,253

Other
10,258

 
(7,894
)
 
425,117

 
75,501

 
 
 
 
 
 
 
 
Total segment profit
3,938,021

 
3,581,040

 
7,555,594

 
5,851,238

 
 
 
 
 
 
 
 
General and administrative
2,813,056

 
2,592,464

 
5,496,752

 
5,036,990

Depreciation and amortization
547,438

 
569,637

 
1,070,077

 
989,760

Interest expense, net of interest income
99,314

 
39

 
197,483

 
(5,190
)
Other
1,375,980

 
(2,209,345
)
 
2,318,615

 
(993,851
)
 
 
 
 
 
 
 
 
(Income) loss from continuing operations before provision for income taxes
$
(897,767
)
 
$
2,628,245

 
$
(1,527,333
)
 
$
823,529


 
 
June 30, 
 2016
 
December 31, 
 2015
 
 
 
 
Property & equipment, net:
 
 
 
STKs
$
32,793,674

 
$
27,678,010

F&B
329,752

 
217,942

Other
56,375

 
56,375

Total
$
33,179,801

 
$
27,952,327