Investment in Affiliate

3 Months Ended

Dec. 31, 2013

Investment in Affiliate [Abstract]

Investment in Affiliate

Note 11.

Investment in Affiliate

On April 15, 2013, the Company executed a Subscription Agreement for the purchase of 4,800 Class A Units of Bad Daddy's Franchise Development, LLC (BDFD), representing a 48% non-controlling voting membership interest in BDFD, for the aggregate subscription price of $750,000.  The subscription price was payable in two equal installments. The first $375,000 installment was paid on the date of execution of the Subscription Agreement and the remaining $375,000 installment was paid in December 2013.

The Company accounts for this investment using the equity method. For the three months ending December 31, 2013 the Company recorded a net loss of $72,000 for its share of the joint venture's operating results.  The carrying value at December 31, 2013 was $576,000, which is represented as Investment in Affiliate in the accompanying condensed consolidated balance sheets.