General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 15, 2020
Dec. 31, 2019
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES      
Net Income $ 5,348 $ 635 $ 2,970
Adjustments to reconcile net income to net cash (used in) provided by - operating activities      
Provision for bad debts   133 87
Depreciation and amortization 348 1,062 825
Deferred income taxes (370)    
Share-based compensation 818    
Forfeited franchise deposits   (693) (825)
Gain on extinguishment of debt (791)    
Gain on sale of franchise/corporate-owned store     (184)
Gain on change in value of warrant liability (5,597)    
Changes in operating assets and liabilities, net of acquisitions      
Accounts receivable (339) 6 (128)
Inventory (8) (10) (127)
Other assets (552) 121 (191)
Accounts payable - trade (275) 751 (380)
Accrued expenses and gift card liability 284 218 (155)
Deferred franchise fees 253 51 376
Other liabilities (57) 422 260
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (938) 2,696 2,528
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES      
Purchase of restaurant from franchisee   (385)  
Deposit on sale   907  
Proceeds from deposit on potential sale of franchise/corporate owned store     938
Purchase of property and equipment (265) (3,244) (2,437)
Acquisition of net assets, net of cash acquired (27,210)    
Advances to related companies (74) (7,863) (10,601)
Repayments from related companies   11,205 11,575
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (27,549) 620 (525)
NET CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds on revolving line of credit   2,987 2,317
Payments on revolving line of credit   (2,290)  
Note payable proceeds   2,406  
Payments on notes payable   (39) (86)
Members' distributions   (6,007) (4,663)
Members' contributions     594
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES   (2,943) (1,838)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (28,487) 373 165
CASH AND CASH EQUIVALENTS, beginning of period 2,790 2,417 2,252
CASH AND CASH EQUIVALENTS, beginning of period 68,870    
CASH AND CASH EQUIVALENTS, end of period $ 40,383 $ 2,790 $ 2,417