Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.7.0.1
Discontinued Operations (Tables)
6 Months Ended
Jun. 30, 2017
Discontinued Operations Tables  
Summarizes the Assets and Liabilities of Segment's Discontinued Operations

The following table summarizes the assets and liabilities of our former restaurant segment's discontinued operations as of June 30, 2017 and December 31, 2016:

 

    June 30,
2017
  December 31,
2016
Assets:                
   Accounts receivable, net   $ 4,000     $ 13,000  
   Inventory     —         12,000  
   Prepaid expenses     —         25,000  
   Property and equipment, net     6,000       30,000  
   Other assets     2,000       17,000  
Total Assets   $ 12,000     $ 97,000  
                 
Liabilities:                
   Accounts payable and accrued liabilities     37,000       58,000  
Total Liabilities   $ 37,000     $ 58,000  

  

The following table summarizes the results of operations of our former restaurant segment for the three and six months ended June 30, 2017 and 2016 and is included in the condensed consolidated statements of operations as discontinued operations:

 

    For the Three Months Ended
June 30,
  For the Six Months Ended
June 30,
    2017   2016   2017   2016
                 
Revenues   $ 109,000     $ 345,000     $ 421,000     $ 642,000  
Cost of sales     35,000       96,000       134,000       193,000  
          Gross Margin     74,000       249,000       287,000       449,000  
Expenses                                
   Labor and related expenses     55,000       117,000       178,000       234,000  
   Rent     21,000       57,000       82,000       129,000  
   Depreciation and amortization     5,000       18,000       20,000       37,000  
   Professional fees     3,000       3,000       3,000       3,000  
   Other general and administrative     39,000       53,000       89,000       102,000  
          Total Operating Expenses     123,000       248,000       372,000       505,000  
          Operating Income (Loss)     (49,000 )     1,000       (85,000 )     (56,000 )
Other Income (Expense)                                
   Loss on disposal of assets     (19,000 )     —         (19,000 )     —    
Income (Loss) on discontinued operations   $ (68,000 )   $ 1,000     $ (104,000 )   $ (56,000 )

 

The following table summarizes cash flow information from our former restaurant segment for the six months ended June 30, 2017 and 2016:

 

    For the Six Months Ended June 30,
    2017   2016
Non-Cash operating items                
     Depreciation and amortization     20,000       37,000  
     Loss on disposal of assets     19,000       —    
     (Increase) decrease in accounts receivables     9,000       (2,000 )
     Decrease in inventory     12,000       3,000  
     (Increase) decrease in prepaid expenses     25,000       (8,000 )
     Decrease in accounts payable and accrued liabilities     (21,000 )     (4,000 )