|9 Months Ended|
Sep. 30, 2021
Note 7 – Bagatelle
As of September 30, 2021 and December 31, 2020, the Company-owned interests in the following companies, which directly or indirectly own a restaurant:
Bagatelle Investors is a holding company that has an interest in Bagatelle NY. The Company records its retained interests in Bagatelle Investors and Bagatelle NY as investments as the Company has determined that it does not have the ability to exercise significant influence over its investees, Bagatelle Investors and Bagatelle NY. As of September 30, 2021 and December 31, 2020, the Company has zero carrying value in these investments.
Net receivables from the Bagatelle entities included in due from related parties, net were $0.4 million as of September 30, 2021 and December 31, 2020. These receivables represent the Company’s maximum exposure to loss. Upon expiration of the lease in November 2020, the Company exited its contract with Bagatelle.
The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef