Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.8.0.1
Segment reporting
 9 Months Ended
Sep. 30, 2017
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"). The Company believes STKs, F&B and Other to be the reportable segments as they do not have similar economic or other characteristics to be aggregated into a single reportable segment. The STKs segment consists of leased restaurant locations and competes in the full service dining industry. The 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 are referred to as managed STK units. The Company refers 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. The Other segment includes owned non-STK leased locations.
  

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Revenues:
 
 
 
 
 

 
 

STKs
$
15,333,320

 
$
16,317,636

 
$
48,725,113

 
$
45,280,770

F&B
2,478,052

 
2,061,964

 
7,576,427

 
6,019,967

Other
—

 
—

 
1,835,033

 
699,500

 
 
 
 
 
 
 
 
 
$
17,811,372

 
$
18,379,600

 
$
58,136,573

 
$
52,000,237

 
 
 
 
 
 
 
 
Segment Profit (loss):
 
 
 
 
 
 
 
STKs
$
1,051,756

 
$
1,349,879

 
$
3,420,859

 
$
4,412,029

F&B
2,478,052

 
2,061,964

 
7,576,427

 
6,019,967

Other
(108,890
)
 
52,476

 
1,005,769

 
477,593

 
 
 
 
 
 
 
 
Total segment profit
3,420,918

 
3,464,319

 
12,003,055

 
10,909,589

 
 
 
 
 
 
 
 
General and administrative
2,766,565

 
2,634,585

 
9,773,654

 
8,178,840

Depreciation and amortization
950,513

 
758,282

 
2,621,063

 
1,828,359

Interest expense, net of interest income
325,135

 
79,768

 
804,308

 
277,251

Other
212,760

 
2,360,226

 
2,129,588

 
4,521,014

 
 
 
 
 
 
 
 
Loss from continuing operations before provision for income taxes
$
(834,055
)
 
$
(2,368,542
)
 
$
(3,325,558
)
 
$
(3,895,875
)

 
 
September 30, 
 2017
 
December 31, 
 2016
 
 
 
 
Property & equipment, net:
 
 
 
STKs
$
37,969,582

 
$
36,505,741

F&B
278,680

 
253,120

Other
56,377

 
56,378

Total
38,304,639

 
36,815,239