XML 21 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Income Statement [Abstract]        
Royalties and fees $ 1,987,556 $ 1,818,625 $ 5,770,999 $ 5,458,434
Administrative fees and other 15,689 5,393 57,182 14,268
Restaurant revenue 103,992 108,789 279,712 338,220
Total revenue 2,107,237 1,932,807 6,107,893 5,810,922
Operating expenses:        
Salaries and wages 263,970 268,530 789,529 780,560
Trade show expense 134,423 130,617 400,846 390,157
Travel expense 61,705 54,030 170,801 153,585
Other operating expenses 235,920 195,430 643,938 559,750
Restaurant expenses 105,333 89,336 301,653 304,186
Depreciation and amortization 27,822 28,346 83,464 85,034
General and administrative 421,278 414,640 1,228,924 1,235,188
Total expenses 1,250,451 1,180,929 3,619,155 3,508,460
Operating income 856,786 751,878 2,488,738 2,302,462
Interest and other expense 43,858 47,206 140,865 150,610
Income before income taxes 812,928 704,672 2,347,873 2,151,852
Income tax expense 313,952 277,556 906,747 850,783
Net income 498,976 427,116 1,441,126 1,301,069
Cumulative preferred dividends 0 (24,682) 0 (74,047)
Net income available to common stockholders $ 498,976 $ 402,434 $ 1,441,126 $ 1,227,022
Earnings per share - basic:        
Net income $ 0.03 $ 0.02 $ 0.07 $ 0.07
Net income available to common stockholders $ 0.03 $ 0.02 $ 0.07 $ 0.06
Weighted average number of common shares outstanding 19,866,957 19,524,594 19,813,618 19,519,287
Diluted earnings per share:        
Net income $ 0.02 $ 0.02 $ 0.07 $ 0.06
Net income available to common stockholders $ 0.02 $ 0.02 $ 0.07 $ 0.06
Weighted average number of common shares outstanding 21,179,590 20,264,150 21,126,252 20,258,842