XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Royalties and fees $ 1,874,235 $ 2,026,510 $ 3,590,546 $ 3,799,082
Administrative fees and other 10,635 14,885 21,709 26,633
Restaurant revenue 55,554 54,390 107,047 97,076
Total revenue 1,940,424 2,095,785 3,719,302 3,922,791
Operating expenses:        
Salaries and wages 232,601 292,357 483,909 571,874
Trade show expense 130,441 136,470 258,877 262,585
Travel expense 34,407 58,407 95,674 114,553
Broker commissions 21,821 0 21,821 0
Other operating expenses 179,971 193,964 375,284 401,590
Restaurant expenses 44,173 49,665 89,905 101,435
Depreciation and amortization 31,675 26,354 61,087 52,708
General and administrative 384,666 407,669 790,475 809,827
Total expenses 1,059,755 1,164,886 2,177,032 2,314,572
Operating income 880,669 930,899 1,542,270 1,608,219
Interest 82,735 42,193 137,941 88,229
Loss on restaurant discontinued 0 47,331 36,776 93,672
Adjust evaluation of receivables 750,659 600,000 750,659 600,000
Income before income taxes 47,275 241,375 616,894 826,318
Income tax expense 15,877 106,154 235,699 343,647
Net income $ 431,398 $ 135,221 $ 381,195 $ 482,671
Earnings per share - basic:        
Operating income $ 0.04 $ 0.05 $ 0.07 $ 0.08
Net income $ 0.00 $ .01 $ 0.02 $ .02
Weighted average number of common shares outstanding 20,783,032 20,483,091 20,780,727 20,291,653
Diluted earnings per share:        
Operating income $ 0.04 $ 0.04 $ 0.07 $ 0.07
Net income $ 0.00 $ 0.01 $ 0.02 $ 0.02
Weighted average number of common shares outstanding 20,974,419 21,844,981 20,972,114 21,653,543