Bagger Dave's Burger Tavern, Inc.

CIK:0001685311|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Income Statement [Abstract]
Revenue	$ 3,897,256	$ 5,063,316	$ 13,685,893	$ 15,772,728
Restaurant operating costs (exclusive of depreciation and amortization shown separately below):
Food, beverage, and packaging costs	1,193,221	1,507,570	4,000,821	4,782,616
Compensation costs	1,581,048	1,936,343	5,238,234	6,003,101
Occupancy costs	518,961	282,647	1,414,608	1,219,000
Other operating costs	873,013	1,284,408	3,037,288	4,121,003
General and administrative expenses	500,738	1,149,648	1,494,671	2,817,159
Pre-opening costs		11,663		363,762
Depreciation and amortization	422,747	885,014	1,451,207	2,623,492
Impairment and (gain) loss on disposal of property and equipment	1,425,203	77,863	2,568,189	(649,911)
Total operating expenses	6,514,932	7,135,157	19,205,018	21,280,222
Operating loss	(2,617,676)	(2,071,841)	(5,519,125)	(5,507,494)
Other income, net	3,788	1,019	56,530	9,905
Loss before income taxes	(2,613,889)	(2,070,822)	(5,462,595)	(5,497,589)
Provision for income taxes			75,585
Net loss from continuing operations	$ (2,613,888)	$ (2,070,822)	$ (5,538,180)	$ (5,497,589)
Basic loss per share	$ (0.10)	$ (0.08)	$ (0.20)	$ (0.21)
Fully diluted loss per share	$ (0.10)	$ (0.08)	$ (0.20)	$ (0.21)
Weighted average number of common shares outstanding
Basic	27,297,727	26,625,615	27,095,538	26,461,825
Diluted	27,297,727	26,625,615	27,095,538	26,461,825

Consolidated Statements of Cash Flow (Unaudited) - USD ($)	9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Cash flows provided by (used in) operating activities
Net loss	$ (5,538,180)	$ (5,497,589)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	1,451,207	2,623,492
Impairment and (gain) loss on asset disposals	2,568,189	(649,911)
Realized gain on sale-leaseback	(14,686)	(14,686)
Share based compensation	58,479
Deferred income taxes	75,585
Changes in operating assets and liabilities that provided (used) cash
Accounts receivable	(93,658)	200,581
Inventory	114,063	(15,878)
Prepaid expenses	68,782	(69,523)
Other long-term assets		164,878
Accounts payable	29,801	(341,839)
Accrued liabilities	432,451	(1,592,731)
Deferred rent	(210,701)	73,028
Net cash used in operating activities	(1,058,668)	(5,120,178)
Cash flows from investing activities
Proceeds from sale of property and equipment	177,317	1,134,717
Purchases of property and equipment	(12,587)	(1,836,831)
Net cash provided by (used in) investing activities	164,730	(702,114)
Cash flows from financing activities
Net transfers from parent		5,472,105
Net cash provided by financing activities		5,472,105
Net decrease in cash and cash equivalents	(893,938)	(350,187)
Cash and cash equivalents, beginning of period	1,818,813	700,638
Cash and cash equivalents, end of period	$ 924,875	$ 350,451

Consolidated Balance Sheets - USD ($)	Sep. 24, 2017	Dec. 25, 2016
Current assets
Cash and cash equivalents	$ 924,875	$ 1,818,813
Accounts receivable	294,175	200,517
Inventory	253,925	367,988
Prepaid assets	104,576	173,358
Total current assets	1,577,551	2,560,676
Property and equipment, net	10,276,219	14,382,673
Intangible assets, net	562,604	640,275
Total assets	12,416,374	17,583,624
Current liabilities
Accounts payable	523,101	493,300
Accrued compensation	228,906
Other accrued liabilities	489,492	326,966
Current portion of deferred rent	140,131	140,431
Total current liabilities	1,381,630	960,697
Deferred rent, less current portion	825,394	1,035,795
Other liabilities	378,283	351,950
Deferred tax liabilities	75,585
Total liabilities	2,660,892	2,348,442
Stockholders' equity
Common stock $.0001 par value; 100,000,000 shares authorized; 27,297,727 and 26,692,119, respectively issued and outstanding at September 24, 2017 and December 25, 2016	46,527	2,669
Additional paid-in capital	15,247,135	15,232,513
Retained deficit	(5,538,180)
Total stockholders' equity	9,755,482	15,235,182
Total liabilities and stockholders' equity	$ 12,416,374	$ 17,583,624