Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash $ 34,654 $ 37,150
Cash - restricted 2,124 3,233
Accounts receivable, net 695 718
Inventory 232 268
Deferred income taxes   713
Asset held for sale 732 732
Other current assets 1,460 1,607
TOTAL CURRENT ASSETS 39,897 44,421
PROPERTY & EQUIPMENT, net 9,263 8,004
DUE FROM RELATED COMPANIES 97 74
GOODWILL 119,955 119,542
INTANGIBLE ASSETS 115,051 116,824
OTHER ASSETS 258 251
TOTAL ASSETS 284,521 289,116
CURRENT LIABILITIES    
Accounts payable - trade 2,686 1,678
Accrued expense 969 1,203
Other deposit 907 907
Other liabilities 803 430
Deferred initial franchise fees, current portion 466 490
Notes payable - current 1,203 1,438
Revolving line of credit 0 3,012
TOTAL CURRENT LIABILITIES 7,034 9,158
NON-CURRENT LIABILITIES    
Deferred initial franchise fees, net of current portion 2,845 2,816
Warrant liability 21,462 16,516
Notes Payable 1,633 1,522
Deferred rent 160 29
TOTAL LIABILITIES 33,134 30,041
COMMITMENTS AND CONTINGENCIES - Note 10  
Stockholders' equity    
Common stock, $0.0001 par value, 100,000,000 shares authorized, 17,830,507 and 17,541,838 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively 2 2
Additional paid-in capital 261,820 261,298
Accumulated deficit (10,435) (2,225)
TOTAL STOCKHOLDERS' EQUITY 251,387 259,075
TOTAL LIABILITIES AND MEMBERS' EQUITY $ 284,521 $ 289,116