Annual report pursuant to Section 13 and 15(d)

Note 2 - Acquisitions (Tables)

v3.3.1.900
Note 2 - Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2015
Notes Tables  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
Property and equipment   $ 297,630  
Intangible assets     153,000  
Goodwill     636,104  
Total assets acquired     1,086,734  
Unfavorable leases     (227,834 )
Net assets acquired   $ 858,900  
Property and equipment   $ 1,504,169  
Intangible assets     1,942,180  
Favorable leases     521,825  
Goodwill     1,830,833  
Total assets acquired     5,799,007  
Unfavorable leases     (49,077 )
Deferred membership revenue     (106,908 )
Net assets acquired     5,643,022  
Deferred tax liability     (168,000 )
Bargain purchase gain     (261,147 )
Net purchase price   $ 5,213,875  
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]
    December 31, 2014
    As reported   As revised
         
Deferred franchise costs - current portion   $ 668,700     $ 622,800  
Goodwill   $ 677,204     $ 636,104  
Deferred revenue - current portion   $ 2,044,500     $ 1,957,500  
Business Acquisition, Pro Forma Information [Table Text Block]
    Pro Forma for the Year
Ended December 31,
    2015   2014
Revenues, net   $ 15,083,156     $ 10,566,763  
Net loss   $ (9,927,271 )   $ (4,518,553 )