Quarterly report pursuant to Section 13 or 15(d)

Segment reporting

v3.7.0.1
Segment reporting
 3 Months Ended
Mar. 31, 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"). 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 March 31,
 
2017
 
2016
Revenues:
 
 
 
STKs
$
16,369,334

 
$
13,680,430

F&B
2,313,716

 
2,014,051

Other
1,743,648

 
699,500

 
 
 
 
 
$
20,426,698

 
$
16,393,981

 
 
 
 
Segment Profit (loss):
 
 
 
STKs
$
1,288,390

 
$
1,188,663

F&B
2,313,716

 
2,014,051

Other
642,757

 
414,859

 
 
 
 
Total segment profit
4,244,863

 
3,617,573

 
 
 
 
General and administrative
2,920,897

 
2,683,696

Depreciation and amortization
865,870

 
522,639

Interest expense, net of interest income
258,990

 
98,169

Other
709,140

 
942,635

 
 
 
 
Loss from continuing operations before provision for income taxes
$
(510,034
)
 
$
(629,566
)

 
 
March 31, 
 2017
 
December 31, 
 2016
 
 
 
 
Property & equipment, net:
 
 
 
STKs
$
36,987,974

 
$
36,505,741

F&B
257,711

 
253,120

Other
56,376

 
56,378

Total
37,302,061

 
36,815,239