Quarterly report pursuant to Section 13 or 15(d)

Supplemental Disclosure of Non-cash Activity

v3.10.0.1
Supplemental Disclosure of Non-cash Activity
 6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Cash Flow, Supplemental Disclosures [Text Block]
During the
six
months ended
June 30, 2018
and
2017,
cash paid for income taxes was
$19,522
and
$22,838,
respectively. During the
six
months ended
June 30, 2018
and
2017,
cash paid for interest was
$50,000
and
$56,993,
respectively.
 
Supplemental disclosure of non-cash activity:
 
As of
June 30, 2018,
we had property and equipment purchases of
$19,228
included in accounts payable.
 
As of
June 30, 2018,
we had stock option exercise proceeds of
$133,281
included in accounts receivable.
 
In connection with our acquisitions of franchises during the
six
months ended
June 30, 2018,
we acquired
$17,964
of property and equipment, intangible assets of
$129,000,
and favorable leases of
$15,302,
in exchange for
$80,000
in cash to the sellers with
$20,000
held in accounts payable as holdback for settlement of final expenses.  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
).