Liquidity |
12 Months Ended | |
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Dec. 31, 2018 | ||
| Liquidity [Abstract] | ||
| Liquidity |
Note 23 - Liquidity During the year ended December 31, 2018, the Company had net income of $3.9 million and had a working capital deficit of $6.2 million. As of December 31, 2018, the Company's accumulated deficit was $28.7 million. Additionally, as of December 31, 2018, the Company's cash and cash equivalents was $1.6 million, and cash from operations for the years ended December 31, 2018 and 2017 were $6.4 million and $6.0 million, respectively. The Company expects to finance its operations, including the costs of opening planned restaurants, for at least the next twelve months from December 31, 2018 through cash provided by operations. Other sources of liquidity could include additional potential issuances of debt or equity securities in public or private financings or warrant or option exercises. While the Company continues to seek capital through a number of means, there can be no assurance that additional financing will be available to it on acceptable terms, if at all. If the Company is unable to access necessary capital to meet its liquidity needs, the Company may have to delay or discontinue the expansion of its business or raise funds on terms that it may consider unfavorable.
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- References No definition available.
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- Definition The entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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