The ONE Group Hospitality, Inc. Quarterly report pursuant to Section 13 or 15(d)

Business Combination (Tables)

Business Combination (Tables)

3 Months Ended

Mar. 31, 2020

Summary of preliminary fair value of identified assets acquired and liabilities assumed as of the acquisition date

The following table summarizes the preliminary fair value of identified assets acquired and liabilities assumed as of the acquisition date (amounts in thousands):


Net assets acquired:
Cash	$	450
Current assets, excluding cash		2,830
Property and equipment		31,781
Operating lease right-of-use assets		42,398
Intangible assets		17,400
Other assets		692
Current liabilities		(7,690)
Deferred tax liability		(4,044)
Operating lease liabilities		(46,364)
Total net assets acquired	$	37,453

Purchase consideration:
Contractual purchase price		25,000
Apportionment of rent and utilities		775
Assumption of real estate lease consultant contract		465
Escrow deposit		250
Consideration paid	$	26,490

Bargain purchase gain attributable to Kona Grill acquisition	$	10,963

Schedule of information showing pro forma results of operations

Amounts are in thousands, except earnings per share related data.


	Three months ended
	March 31, 2019
Total revenues	$	47,230
Net income attributable to The ONE Group Hospitality, Inc.	$	667
Net income attributable to The ONE Group Hospitality, Inc. per share:
Basic net income per share	$	0.02
Diluted net income per share	$	0.02