Supplemental Disclosure of Non-cash Activity |
3 Months Ended |
|---|---|
Mar. 31, 2020 | |
| Supplemental Cash Flow Information [Abstract] | |
| Cash Flow, Supplemental Disclosures [Text Block] |
During the three months ended March 31, 2020 and 2019, cash paid for income taxes was $0 for both periods. During the three months ended March 31, 2020 and 2019, cash paid for interest was $0 and $25,000, respectively.
Supplemental disclosure of non-cash activity:
As of March 31, 2020, accounts payable and accrued expenses include property and equipment purchases of $501,318 and $14,097, respectively. As of December 31, 2019, accounts payable and accrued expenses include property and equipment purchases of $196,671, and $15,250, respectively.
In connection with the acquisitions during the three months ended March 31, 2019, the Company acquired $9,166 of property and equipment and intangible assets of $62,000, in exchange for $30,000 in cash to the seller. Additionally, at the time of these transactions, the Company carried net deferred revenue of $3,847, representing net franchise fees collected upon the execution of the franchise agreement. The Company netted this amount against the purchase price of the acquisitions.
In connection with the Company’s reacquisition and termination of regional developer rights during the three months ended March 31, 2019, the Company had deferred revenue of $44,334 representing license fees collected upon the execution of the regional developer agreements. The Company netted these amounts against the aggregate purchase price of the acquisitions.
As of March 31, 2020, the Company had no stock option exercise proceeds included in accounts receivable. As of March 31, 2019, the Company had $30,358 of proceeds from the exercise of stock options included in accounts receivable.
|