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ARC Group, Inc. – ‘10-Q’ for 9/30/19 – ‘R35’

On:  Thursday, 11/14/19, at 11:50am ET   ·   For:  9/30/19   ·   Accession #:  1493152-19-17269   ·   File #:  0-54226

Previous ‘10-Q’:  ‘10-Q’ on 8/14/19 for 6/30/19   ·   Latest ‘10-Q’:  This Filing

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/14/19  ARC Group, Inc.                   10-Q        9/30/19   90:6.4M                                   M2 Compliance/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    583K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     33K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     33K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     28K 
54: R1          Document and Entity Information                     HTML     56K 
25: R2          Condensed Consolidated Balance Sheets               HTML    145K 
34: R3          Condensed Consolidated Balance Sheets               HTML     45K 
                (Parenthetical)                                                  
83: R4          Condensed Consolidated Statements of Operations     HTML     95K 
                (Unaudited)                                                      
53: R5          Condensed Consolidated Statements of Cash Flows     HTML    164K 
                (Unaudited)                                                      
24: R6          Description of Business                             HTML     34K 
33: R7          Basis of Presentation and Significant Accounting    HTML     85K 
                Policies                                                         
81: R8          Net (Loss) / Income Per Share                       HTML     37K 
56: R9          Acquisition of Fat Patty's                          HTML     52K 
70: R10         Agreement to Acquire Tilted Kilt                    HTML     30K 
78: R11         Inventory                                           HTML     30K 
47: R12         Property and Equipment, Net                         HTML     34K 
16: R13         Intangible Assets                                   HTML     33K 
71: R14         Fair Value Measurements                             HTML     38K 
79: R15         Notes Receivable                                    HTML     34K 
48: R16         Debt Obligations                                    HTML     36K 
17: R17         Leases                                              HTML     52K 
69: R18         Capital Stock                                       HTML     80K 
80: R19         Stock Options and Warrants                          HTML     29K 
32: R20         Stock Compensation Plans                            HTML     30K 
23: R21         Commitments and Contingencies                       HTML     84K 
52: R22         Related-Party Transactions                          HTML     52K 
82: R23         Judgments in Legal Proceedings                      HTML     32K 
35: R24         Segment Reporting                                   HTML     51K 
26: R25         Restatement of Previously Issued Condensed          HTML     38K 
                Consolidated Financial Statements                                
55: R26         Subsequent Events                                   HTML     53K 
84: R27         Basis of Presentation and Significant Accounting    HTML    107K 
                Policies (Policies)                                              
36: R28         Basis of Presentation and Significant Accounting    HTML     51K 
                Policies (Tables)                                                
22: R29         Net (Loss) / Income Per Share (Tables)              HTML     36K 
20: R30         Acquisition of Fat Patty's (Tables)                 HTML     41K 
51: R31         Inventory (Tables)                                  HTML     32K 
77: R32         Property and Equipment, Net (Tables)                HTML     32K 
68: R33         Intangible Assets (Tables)                          HTML     30K 
19: R34         Fair Value Measurements (Tables)                    HTML     31K 
50: R35         Leases (Tables)                                     HTML     56K 
76: R36         Capital Stock (Tables)                              HTML     54K 
67: R37         Commitments and Contingencies (Tables)              HTML     30K 
21: R38         Segment Reporting (Tables)                          HTML     47K 
49: R39         Restatement of Previously Issued Condensed          HTML     36K 
                Consolidated Financial Statements (Tables)                       
28: R40         Description of Business (Details Narrative)         HTML     36K 
39: R41         Basis of Presentation and Significant Accounting    HTML     72K 
                Policies (Details Narrative)                                     
90: R42         Basis of Presentation and Significant Accounting    HTML     49K 
                Policies - Schedule of Disaggregation of Revenue                 
                (Details)                                                        
61: R43         Basis of Presentation and Significant Accounting    HTML     33K 
                Policies - Schedule of Deferred Franchise Fees                   
                Under Contract Balances (Details)                                
27: R44         Basis of Presentation and Significant Accounting    HTML     40K 
                Policies - Schedule of Estimated Franchise Fees to               
                be Recognized in the Future Related to Performance               
                Obligations (Details)                                            
38: R45         Net (Loss) / Income Per Share - Schedule of Basic   HTML     52K 
                and Diluted Net (Loss) / Income (Details)                        
89: R46         Acquisition of Fat Patty's (Details Narrative)      HTML     97K 
60: R47         Acquisition of Fat Patty's - Schedule of Assets     HTML     58K 
                Acquired and Liabilities Assumed (Details)                       
29: R48         Acquisition of Fat Patty's - Schedule of Pro Forma  HTML     41K 
                Financial Information (Details)                                  
37: R49         Agreement to Acquire Tilted Kilt (Details           HTML     43K 
                Narrative)                                                       
42: R50         Inventory - Schedule of Inventory (Details)         HTML     33K 
12: R51         Property and Equipment, Net (Detail Narrative)      HTML     35K 
64: R52         Property and Equipment, Net - Schedule of           HTML     42K 
                Property, Plant and Equipment (Details)                          
74: R53         Intangible Assets (Details Narrative)               HTML     46K 
43: R54         Intangible Assets - Schedule of Future              HTML     42K 
                Amortization Expense Recognized from Intangible                  
                Assets (Details)                                                 
13: R55         Fair Value Measurements (Details Narrative)         HTML     43K 
65: R56         Fair Value Measurements - Schedule of Equity        HTML     37K 
                Investment in Seediv Within the Fair Value                       
                Hierarchy Utilized to Measure Fair Value on a                    
                Recurring Basis (Details)                                        
75: R57         Notes Receivable (Details Narrative)                HTML     91K 
44: R58         Debt Obligations (Details Narrative)                HTML     74K 
11: R59         Leases (Details Narrative)                          HTML     31K 
58: R60         Leases - Schedule of Operating and Financing Lease  HTML     42K 
                Assets and Liabilities (Details)                                 
86: R61         Leases - Schedule of Supplemental Cash Flow         HTML     32K 
                Information Related to Leases (Details)                          
40: R62         Leases - Schedule of Components Lease Cost Related  HTML     36K 
                (Details)                                                        
30: R63         Leases - Schedule of Weighted Average Lease Term    HTML     35K 
                and Discount Rates for Operating and Financing                   
                Leases (Details)                                                 
59: R64         Leases - Schedule of Maturity of Operating and      HTML     65K 
                Financing Lease Liabilities (Details)                            
87: R65         Capital Stock (Details Narrative)                   HTML    160K 
41: R66         Capital Stock - Schedule of Changes in              HTML    102K 
                Stockholders' Equity (Details)                                   
31: R67         Stock Options and Warrants (Details Narrative)      HTML     40K 
57: R68         Stock Compensation Plans (Details Narrative)        HTML     36K 
88: R69         Commitments and Contingencies (Details Narrative)   HTML    310K 
73: R70         Commitments and Contingencies - Schedule of Future  HTML     47K 
                Minimum Annual Payments Under the Sponsorship                    
                Agreement (Details)                                              
63: R71         Related-Party Transactions (Details Narrative)      HTML    103K 
15: R72         Judgments in Legal Proceedings (Details Narrative)  HTML     60K 
46: R73         Segment Reporting (Details Narrative)               HTML     31K 
72: R74         Segment Reporting - Schedule of Segment Reporting   HTML     53K 
                Financial Information (Details)                                  
62: R75         Restatement of Previously Issued Condensed          HTML     38K 
                Consolidated Financial Statements (Detail                        
                Narrative)                                                       
14: R76         Restatement of Previously Issued Condensed          HTML     41K 
                Consolidated Financial Statements - Schedule of                  
                Consolidated Statement of Operation (Details)                    
45: R77         Subsequent Events (Detail Narrative)                HTML    122K 
18: XML         IDEA XML File -- Filing Summary                      XML    170K 
66: EXCEL       IDEA Workbook of Financial Reports                  XLSX    112K 
 5: EX-101.INS  XBRL Instance -- rlly-20190930                       XML   1.82M 
 7: EX-101.CAL  XBRL Calculations -- rlly-20190930_cal               XML    251K 
 8: EX-101.DEF  XBRL Definitions -- rlly-20190930_def                XML    917K 
 9: EX-101.LAB  XBRL Labels -- rlly-20190930_lab                     XML   1.37M 
10: EX-101.PRE  XBRL Presentations -- rlly-20190930_pre              XML   1.08M 
 6: EX-101.SCH  XBRL Schema -- rlly-20190930                         XSD    236K 
85: ZIP         XBRL Zipped Folder -- 0001493152-19-017269-xbrl      Zip    197K

‘R35’   —   Leases (Tables)

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.19.3
Leases (Tables)
 9 Months Ended
Leases [Abstract]  
Schedule of Operating and Financing Lease Assets and Liabilities

The following table sets forth information about the Company’s operating and financing lease assets and liabilities included in its condensed consolidated balance sheet as of September 30, 2019:

 

    Classification on the Condensed
Consolidated Balance Sheet		   September 30, 2019  
Assets            
Operating lease right-of-use assets   Right-of-use assets   $ 3,582,774  
Financing lease right-of-use assets   Right-of-use assets     10,896,130  
Total right of use assets       $ 14,478,904  
             
Liabilities            
Current liabilities:            
Operating lease liability   Current operating lease liabilities   $ 284,059  
Financing lease liability   Current portion of other long-term liabilities     202,944  
Non-current liabilities:            
Operating lease liabilities, net of current portion   Operating lease liabilities     3,351,890  
Financing lease liabilities, net of current portion   Other long-term liabilities     11,054,732  
Total lease liabilities       $ 14,893,625  
Schedule of Supplemental Cash Flow Information Related to Leases

The following table sets forth the supplemental cash flow information related to the Company’s leases for the three- and nine-month periods ended September 30, 2019:

 

    Three Months Ended
September 30, 2019		     Nine Months Ended
September 30, 2019		  
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flows from operating leases   $ 138,036     $ 387,477  
Operating cash flows from financing leases     176,240       530,702  
Financing cash flows from financing leases     145,092       430,545  
Schedule of Components Lease Cost Related

The following table sets forth the components of lease costs related to the Company’s leases for the three- and nine-month periods ended September 30, 2019:

 

    Three Months Ended
September 30, 2019		     Nine Months Ended
September 30, 2019		  
Operating lease costs   $ 154,597     $ 441,146  
                 
Financing lease costs:                
Amortization of right-of-use assets   $ 145,092     $ 430,546  
Interest on lease liabilities     176,240       530,701  
Total financing lease costs     321,332       961,247  
Schedule of Weighted Average Lease Term and Discount Rates for Operating and Financing Leases

The following table shows certain information related to the weighted-average remaining lease terms and the weighted-average discount rates for our operating and financing leases:

 

    Weighted
Average
Remaining
Lease Term		     Weighted
Average
Discount Rate		  
      (in years)       (annual)  
                 
Operating leases     10.91       7.73 %
Financing leases     18.92       8.00 %
Schedule of Maturity of Operating and Financing Lease Liabilities

The following table sets forth the maturity of our operating and financing leases liabilities as of September 30, 2019:

 

    Operating Leases     Financing Leases  
Year Ended December 31,                
2019 (remaining three months)   $ 124,703     $ 223,055  
2020     544,759       897,425  
2021     570,765       913,130  
2022     583,392       929,110  
2023     472,444       945,369  
Thereafter     3,206,389       15,924,033  
Total lease payments     5,502,452       19,832,122  
Less: imputed interest     (1,866,503 )     (8,574,446 )
Total   $ 3,635,949     $ 11,257,676  

Dates Referenced Herein

This ‘10-Q’ Filing    Date    Other Filings
12/31/19None on these Dates
Filed on:11/14/19
For Period end:9/30/19
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Filing Submission 0001493152-19-017269   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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