| Schedule of Equity Method Investments |
The summarized financial data at December 31, 2016 and 2015, of these investments is presented below:
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Bagatelle Investors |
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Bagatelle NY |
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Bagatelle LA |
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One 29 Park, LLC |
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December 31, 2016 |
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Current assets |
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$ |
160,858 |
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$ |
2,743,161 |
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$ |
18,249 |
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$ |
2,551,585 |
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Non-current assets |
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$ |
328,745 |
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$ |
1,831,906 |
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$ |
393,934 |
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$ |
1,366,194 |
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Current liabilities |
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$ |
57,143 |
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$ |
1,088,766 |
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$ |
2,024,841 |
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$ |
1,379,743 |
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Non-current liabilities |
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$ |
— |
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$ |
188,032 |
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$ |
7,418 |
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$ |
— |
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Revenues |
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$ |
— |
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$ |
13,569,513 |
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$ |
1,080,249 |
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$ |
8,418,929 |
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Gross profit |
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$ |
— |
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$ |
10,147,373 |
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$ |
815,404 |
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$ |
6,729,996 |
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Income (loss) from continuing operations |
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$ |
208,705 |
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$ |
1,506,948 |
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$ |
(502,366 |
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$ |
(384,412 |
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Net income (loss) |
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$ |
208,745 |
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$ |
1,506,948 |
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$ |
(502,366 |
) |
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$ |
(387,705 |
) |
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December 31, 2015 |
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Current assets |
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$ |
150,527 |
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$ |
1,804,376 |
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$ |
128,009 |
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$ |
2,594,270 |
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Non-current assets |
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$ |
352,376 |
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$ |
2,022,934 |
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$ |
434,567 |
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$ |
1,242,770 |
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Current liabilities |
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$ |
67,867 |
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$ |
808,599 |
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$ |
1,661,077 |
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$ |
911,236 |
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Non-current liabilities |
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$ |
— |
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$ |
199,807 |
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$ |
19,209 |
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$ |
— |
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Revenues |
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$ |
— |
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$ |
13,521,968 |
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$ |
2,277,738 |
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$ |
9,254,962 |
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Gross profit |
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$ |
— |
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$ |
10,061,406 |
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$ |
1,806,393 |
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$ |
7,486,609 |
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Income from continuing operations |
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$ |
346,420 |
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$ |
1,994,781 |
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$ |
(310,393 |
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$ |
95,082 |
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Net income |
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$ |
346,420 |
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$ |
1,994,781 |
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$ |
(310,393 |
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$ |
91,251 |
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At December 31, 2016 and 2015, the Company held the following investments in VIE's which are all accounted for under the equity method as the Company concluded that it is not the primary beneficiary but is able to exercise significant influence over these entities:
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At December 31, |
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2016 |
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2015 |
Bagatelle NY LA Investors, LLC (“Bagatelle Investors”) |
$ |
6,569 |
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$ |
7,364 |
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Bagatelle Little West 12th, LLC ( “Bagatelle NY”)
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2,552,687 |
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2,357,927 |
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Bagatelle La Cienega, LLC (“Bagatelle LA”) |
— |
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— |
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One 29 Park, LLC |
506,301 |
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545,071 |
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Totals |
$ |
3,065,557 |
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$ |
2,910,362 |
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Equity in income of investee companies |
$ |
674,289 |
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$ |
1,038,854 |
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