Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.3.0.814
Segment reporting
 9 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
Segment reporting
Segment reporting:
 The Company operates in three segments: owned STK units ("STKs"), food and beverage 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,
 
2015
 
2014
 
2015
 
2014
Revenues:
 
 
 
 
 

 
 

STKs
$
13,304,698

 
$
10,375,136

 
$
35,425,710

 
$
27,807,365

F&B
1,939,376

 
1,945,363

 
6,112,629

 
6,207,523

Other
9,809

 
69,685

 
393,023

 
915,556

 
 
 
 
 
 
 
 
 
$
15,253,883

 
$
12,390,184

 
$
41,931,362

 
$
34,930,444

 
 
 
 
 
 
 
 
Segment Profits (loss):
 
 
 
 
 

 
 

STKs
$
1,200,787

 
$
1,564,275

 
$
2,803,271

 
$
3,488,507

F&B
1,939,376

 
1,945,363

 
6,112,629

 
6,207,523

Other
(40,753
)
 
(176,877
)
 
34,748

 
90,488

 
 
 
 
 
 
 
 
Total segment profit
3,099,410

 
3,332,761

 
8,950,648

 
9,786,518

 
 
 
 
 
 
 
 
General and administrative
2,610,599

 
1,922,482

 
7,647,589

 
6,024,364

Depreciation and amortization
630,249

 
327,810

 
1,620,009

 
1,000,464

Interest expense, net of interest income
1,210

 
(6,268
)
 
(3,980
)
 
52,220

Other
823,697

 
(224,079
)
 
(170,154
)
 
(2,329,785
)
 
 
 
 
 
 
 
 
Income from continuing operations before provision for income taxes
$
(966,345
)
 
$
1,312,816

 
$
(142,816
)
 
$
5,039,255


 
 
September 30, 
 2015
 
December 31, 
 2014
 
 
 
 
Property & equipment, net:
 
 
 
STKs
$
25,604,325

 
$
17,456,993

F&B
364,755

 
229,771

Other
230,271

 
1,128,861

Total
$
26,199,351

 
$
18,815,625