Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Apr. 01, 2024
Jan. 01, 2024
Current Assets    
Cash and cash equivalents $ 4,147 $ 7,556
Accounts receivable, net 1,355 1,368
Inventory 1,305 1,190
Assets held for sale 732 732
Prepaid expenses and other current assets 2,420 1,654
Total Current Assets 9,959 12,500
Property & Equipment, net 16,586 16,121
Operating right-of-use assets, net 44,260 46,052
Goodwill 31,621 31,621
Intangible assets, net 148,791 150,856
Other assets 1,391 1,326
Total Assets 252,608 258,476
Current Liabilities    
Accounts payable - trade and other 5,128 7,093
Accrued expenses 11,226 8,537
Short-term operating lease liability 10,229 10,111
Other current liabilities 2,951 4,117
Short-term borrowings, including finance leases 53,064 52,834
Total Current Liabilities 82,598 82,692
Non-Current Liabilities    
Long-term borrowings and Related party note payable 16,749 16,206
Redeemable preferred stock, $0.0001 par value, $10,000,000 shares authorized, $2,120,000 shares issued and outstanding, as of April 1, 2024 and January 1, 2024, $53 million principal redemption value 56,734 55,629
Long-term operating lease liability 42,555 44,631
Warrant liability 38 182
Other non-current liabilities 694 740
Deferred income taxes 1,146 1,146
Total Liabilities 200,514 201,226
Commitments and Contingencies - Note 8
Stockholders' Equity    
Common stock, $0.0001 par value, $100,000,000 shares authorized, $27,042,213 and $26,832,691 shares issued and outstanding as of April 1, 2024 and January 1, 2024, respectively 2 2
Additional paid-in capital 315,989 315,107
Accumulated deficit (264,397) (257,859)
Total Stockholder's Equity Attributable to BurgerFi 51,594 57,250
Non-controlling interests in subsidiaries 500 0
Total Stockholders' Equity 52,094 57,250
Total Liabilities and Stockholders' Equity 252,608 258,476
Nonrelated Party    
Non-Current Liabilities    
Long-term borrowings and Related party note payable 2,223 1,718
Related Party    
Non-Current Liabilities    
Long-term borrowings and Related party note payable $ 14,526 $ 14,488