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 ($)
 1 Months Ended 9 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 15, 2020
Dec. 31, 2019
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES          
Net (loss) income $ 5,348,000 $ (4,237,000) $ 10,000 $ 635,000 $ 2,970,000
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities          
Provision for bad debts   44,000   133,000 87,000
Depreciation and amortization 348,000 6,473,000 811,000 1,062,000 825,000
Gain on PPP loan forgiveness   (2,237,000)      
Deferred income taxes (370,000) 731,000      
Share-based compensation 818,000 6,785,000      
Forfeited franchise deposits   (128,000)   (693,000) (825,000)
Change in fair value of warrant liability 5,597,000 (10,405,000)      
Gain on extinguishment of debt (791,000)        
Gain on sale of franchise/corporate-owned store         (184,000)
Gain on change in value of warrant liability (5,597,000) (10,405,000)      
Loss on disposal of property and equipment   22,000   (2,000) (184,000)
Changes in operating assets and liabilities, net of acquisitions          
Accounts receivable (339,000) 99,000 21,000 6,000 (128,000)
Inventory (8,000) (130,000) (3,000) (10,000) (127,000)
Other assets (552,000) 74,000 237,000 121,000 (191,000)
Accounts payable - trade and other (275,000) 669,000 695,000 751,000 (380,000)
Other liabilities (57,000) (201,000)   422,000 260,000
Accrued expenses   1,069,000 44,000    
Deferred revenue   116,000 96,000    
Deferred rent   443,000 371,000    
Accrued expenses and gift card liability 284,000     218,000 (155,000)
Deferred franchise fees 253,000     51,000 376,000
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (938,000) (813,000) 2,282,000 2,696,000 2,528,000
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES          
Purchase of property and equipment (265,000) (8,182,000) (1,929,000) (3,244,000) (2,437,000)
Trademark cost   (26,000)      
Advances to related companies (74,000) (9,000) (6,874,000) (7,863,000) (10,601,000)
Repayments from related companies     5,073,000 11,205,000 11,575,000
Purchase of store     (650,000)    
Deposit on sale     907,000 907,000  
Purchase of restaurant from franchisee       (385,000)  
Proceeds from deposit on potential sale of franchise/corporate owned store         938,000
Acquisition of net assets, net of cash acquired (27,210,000)        
NET CASH FLOWS FROM (USED IN) PROVIDED BY INVESTING ACTIVITIES (27,549,000) (8,217,000) (3,473,000) 620,000 (525,000)
NET CASH FLOWS FROM FINANCING ACTIVITIES          
Proceeds on revolving line of credit     1,648,000 2,987,000 2,317,000
Payments on revolving line of credit   (3,012,000) (1,301,000) (2,290,000)  
Notes payable proceeds     2,406,000 2,406,000  
Payments on notes payable   (46,000) (22,000) (39,000) (86,000)
Members' distributions       (6,007,000) (4,663,000)
Members' contributions         594,000
Members' distributions     (714,000)    
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES   (3,058,000) 2,017,000 (2,943,000) (1,838,000)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (28,487,000) (12,088,000) 826,000 373,000 165,000
NET (DECREASE) INCREASE IN CASH 2,790,000 40,383,000 2,417,000 2,417,000 2,252,000
CASH, INCLUDING RESTRICTED CASH, beginning of period 68,870,000 40,383,000 2,417,000 2,417,000  
CASH, INCLUDING RESTRICTED CASH, end of period $ 40,383,000 $ 28,295,000 $ 3,243,000 $ 2,790,000 $ 2,417,000