Supplemental Disclosure of Non-cash Activity |
9 Months Ended |
|---|---|
Sep. 30, 2018 | |
| Notes to Financial Statements | |
| Cash Flow, Supplemental Disclosures [Text Block] |
During the nine months ended September 30, 2018 and 2017, cash paid for income taxes was $29,522 and $22,838, respectively. During the nine months ended September 30, 2018 and 2017, cash paid for interest was $75,000 and $81,993, respectively.Supplemental disclosure of non-cash activity: As of September 30, 2018, we had property and equipment purchases of $68,788 and $2,214 included in accounts payable and accrued expenses, respectively. As of December 31, 2017, we had property and equipment purchases of $50,474 included in accounts payable.As of September 30, 2018, we had stock option exercise proceeds of $6,720 included in accounts receivable.In connection with our acquisitions of franchises during the nine months ended September 30, 2018, we acquired $17,964 of property and equipment, intangible assets of $129,000, favorable leases of $15,302, in exchange for $100,000 in cash to the sellers. Additionally, at the time of these transactions, we carried deferred revenue of $12,998, representing franchise fees collected upon the execution of the franchise agreement. In accordance with ASC-952 -605, we netted this amount against the aggregate purchase price of the acquisitions (Note 2 ) and a bargain purchase gain of $75,264 was recognized.In connection with our reacquisition and termination of regional developer rights during the
nine months ended September 30, 2018, we had deferred revenue of $26,934 representing license fees collected upon the execution of the regional developer agreements. In accordance with ASC-952 -605, we netted these amounts against the aggregate purchase price of the acquisitions. (Note 8 ) |