Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.5.0.2
Segment reporting
 9 Months Ended
Sep. 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 September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Revenues:
 
 
 
 
 

 
 

STKs
$
16,317,636

 
$
13,304,698

 
$
45,280,770

 
$
35,425,710

F&B
2,061,964

 
1,939,376

 
6,019,967

 
6,112,629

Other
—

 
9,809

 
699,500

 
393,023

 
 
 
 
 
 
 
 
 
$
18,379,600

 
$
15,253,883

 
$
52,000,237

 
$
41,931,362

 
 
 
 
 
 
 
 
Segment Profits (loss):
 
 
 
 
 
 
 

STKs
$
1,349,879

 
$
1,207,645

 
$
4,412,029

 
$
3,007,330

F&B
2,061,964

 
1,939,376

 
6,019,967

 
6,112,629

Other
52,476

 
(40,753
)
 
477,593

 
34,748

 
 
 
 
 
 
 
 
Total segment profit
3,464,319

 
3,106,268

 
10,909,589

 
9,154,707

 
 
 
 
 
 
 
 
General and administrative
2,634,585

 
2,642,743

 
8,178,840

 
7,777,058

Depreciation and amortization
758,282

 
630,249

 
1,828,359

 
1,620,009

Interest expense, net of interest income
79,768

 
1,210

 
277,251

 
(3,980
)
Other
2,360,226

 
798,411

 
4,521,014

 
(95,564
)
 
 
 
 
 
 
 
 
Loss from continuing operations before provision for income taxes
$
(2,368,542
)
 
$
(966,345
)
 
$
(3,895,875
)
 
$
(142,816
)

 
 
September 30, 
 2016
 
December 31, 
 2015
 
 
 
 
Property & equipment, net:
 
 
 
STKs
$
35,248,877

 
$
27,678,010

F&B
411,239

 
217,942

Other
56,374

 
56,375

Total
$
35,716,490

 
$
27,952,327