Post-effective amendment to a registration statement that is not immediately effective upon filing

Consolidated Statements of Cash Flows

v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 6 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 15, 2020
Dec. 31, 2019
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES          
Net income $ 5,348 $ 781 $ 847 $ 635 $ 2,970
Adjustments to reconcile net income to net cash (used in) provided by - operating activities          
Provision for bad debts   37   133 87
Depreciation and amortization 348 4,279 496 1,062 825
Gain on PPP loan forgiveness   (2,237)      
Deferred income taxes (370) 740      
Share-based compensation 818 3,117      
Forfeited franchise deposits   (67)   (693) (825)
Change in fair value of warrant liability 5,597 (7,673)      
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) (7,673)      
Changes in operating assets and liabilities, net of acquisitions          
Accounts receivable (339) 121 128 6 (128)
Inventory (8) 5 77 (10) (127)
Other assets (552) (56) 102 121 (191)
Accounts payable - trade and other (275) 928 481 751 (380)
Other liabilities (57) 44   422 260
Accrued expenses   899 (56)    
Deferred revenue   98 67    
Deferred rent   238 248    
Accrued expenses and gift card liability 284     218 (155)
Deferred franchise fees 253     51 376
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (938) 1,254 2,389 2,696 2,528
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES          
Purchase of property and equipment (265) (3,793) (1,206) (3,244) (2,437)
Trademark cost   (26)      
Advances to related companies (74) (20) (5,807) (7,863) (10,601)
Repayments from related companies     4,276 11,205 11,575
Purchase of store     (650)    
Deposit on sale     907 907  
Purchase of restaurant from franchisee       (385)  
Proceeds from deposit on potential sale of franchise/corporate owned store         938
Acquisition of net assets, net of cash acquired (27,210)        
NET CASH FLOWS FROM (USED IN) PROVIDED BY INVESTING ACTIVITIES (27,549) (3,839) (2,480) 620 (525)
NET CASH FLOWS FROM FINANCING ACTIVITIES          
Payments on revolving line of credit   (3,012)   (2,290)  
Payments on notes payable   (29)   (39) (86)
Note payable proceeds     3,238 2,406  
Members' distributions     (65) (6,007) (4,663)
Proceeds on revolving line of credit       2,987 2,317
Members' contributions         594
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES   (3,041) 3,173 (2,943) (1,838)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (28,487) (5,626) 3,082 373 165
CASH AND CASH EQUIVALENTS, beginning of period 2,790 40,383 2,417 2,417 2,252
CASH AND CASH EQUIVALENTS, beginning of period 68,870        
CASH AND CASH EQUIVALENTS, end of period $ 40,383 $ 34,757 $ 5,499 $ 2,790 $ 2,417