0001493152-19-001698.txt : 20190211 0001493152-19-001698.hdr.sgml : 20190211 20190211160622 ACCESSION NUMBER: 0001493152-19-001698 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 55 CONFORMED PERIOD OF REPORT: 20181231 FILED AS OF DATE: 20190211 DATE AS OF CHANGE: 20190211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RCI HOSPITALITY HOLDINGS, INC. CENTRAL INDEX KEY: 0000935419 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 760458229 STATE OF INCORPORATION: TX FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-13992 FILM NUMBER: 19585414 BUSINESS ADDRESS: STREET 1: 10737 CUTTEN ROAD CITY: HOUSTON STATE: TX ZIP: 77066 BUSINESS PHONE: 2813976730 MAIL ADDRESS: STREET 1: 10737 CUTTEN ROAD CITY: HOUSTON STATE: TX ZIP: 77066 FORMER COMPANY: FORMER CONFORMED NAME: RICKS CABARET INTERNATIONAL INC DATE OF NAME CHANGE: 19950112 10-Q 1 form10-q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2018

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 001-13992

RCI HOSPITALITY HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Texas

76-0458229

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

10737 Cutten Road

Houston, Texas 77066

(Address of principal executive offices) (Zip Code)

(281) 397-6730

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. Large accelerated filer [ ] Accelerated filer [X] Non-accelerated filer [ ] Smaller reporting company [ ] Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

As of February 1, 2019, 9,690,500 shares of the registrant’s common stock were outstanding.

NOTE ABOUT FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements regarding plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. Forward-looking statements may appear throughout this report, including, without limitation, the following sections: Part I, Item 2 “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Forward-looking statements generally can be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, which could cause our actual results to differ materially from those reflected in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in this Quarterly Report on Form 10-Q and those discussed in other documents we file with the Securities and Exchange Commission (“SEC”). Important factors that in our view could cause material adverse effects on our financial condition and results of operations include, but are not limited to, the risks and uncertainties associated with operating and managing an adult business, the business climates in cities where it operates, the success or lack thereof in launching and building the company’s businesses, risks and uncertainties related to cyber security, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. We undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

As used herein, the “Company,” “we,” “our,” and similar terms include RCI Hospitality Holdings, Inc. and its subsidiaries, unless the context indicates otherwise.

RCI HOSPITALITY HOLDINGS, INC.

FORM 10-Q

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION

Item 1.	Financial Statements	4

	Condensed Consolidated Balance Sheets as of December 31, 2018 (unaudited) and September 30, 2018	4

	Condensed Consolidated Statements of Income (unaudited) for the three months ended December 31, 2018 and 2017	5

	Condensed Consolidated Statements of Cash Flows (unaudited) for the three months ended December 31, 2018 and 2017	6

	Notes to Condensed Consolidated Financial Statements (unaudited)	8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	20

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	32

Item 4.	Controls and Procedures	32

PART II	OTHER INFORMATION

Item 1.	Legal Proceedings	36

Item1A.	Risk Factors	36

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	36

Item 6.	Exhibits	37

	Signatures	38

PART I FINANCIAL INFORMATION

Item 1. Financial Statements.

RCI HOSPITALITY HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par value)

	December 31,			September 30,
	2018			2018
	(unaudited)			(As Revised)
ASSETS
Current assets
Cash and cash equivalents	$	9,387		$	17,726
Accounts receivable, net		5,583			7,320
Inventories		2,578			2,353
Prepaid insurance		3,603			4,910
Other current assets		1,560			1,591
Assets held for sale		2,356			2,902
Total current assets		25,067			36,802
Property and equipment, net		187,502			172,403
Notes receivable		3,467			2,874
Goodwill		54,731			43,591
Intangibles, net		77,289			71,532
Other assets		1,466			2,530
Total assets	$	349,522		$	329,732

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	2,357		$	2,825
Accrued liabilities		11,940			11,973
Current portion of long-term debt		14,898			19,047
Total current liabilities		29,195			33,845
Deferred tax liability, net		21,473			19,552
Long-term debt, net of current portion		138,197			121,580
Other long-term liabilities		1,567			1,423
Total liabilities		190,432			176,400

Commitments and contingencies (Note 10)

Stockholders’ equity
Preferred stock, $0.10 par value per share; 1,000 shares authorized; none issued and outstanding		-			-
Common stock, $0.01 par value per share; 20,000 shares authorized; 9,705 and 9,719 shares issued and outstanding as of December 31, 2018 and September 30, 2018, respectively		97			97
Additional paid-in capital		63,857			64,212
Retained earnings		95,179			88,906
Accumulated other comprehensive income		-			220
Total RCIHH stockholders’ equity		159,133			153,435
Noncontrolling interests		(43	)		(103	)
Total stockholders’ equity		159,090			153,332
Total liabilities and stockholders’ equity	$	349,522		$	329,732

See accompanying notes to condensed consolidated financial statements.

RCI HOSPITALITY HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data)

(unaudited)

	For the Three Months
	Ended December 31,
	2018			2017
Revenues
Sales of alcoholic beverages	$	18,310		$	17,805
Sales of food and merchandise		5,690			5,307
Service revenues		17,331			15,889
Other		2,692			2,211
Total revenues		44,023			41,212
Operating expenses
Cost of goods sold
Alcoholic beverages sold		3,736			3,755
Food and merchandise sold		1,984			2,094
Service and other		92			36
Total cost of goods sold (exclusive of items shown separately below)		5,812			5,885
Salaries and wages		12,096			11,377
Selling, general and administrative		14,027			12,812
Depreciation and amortization		2,053			1,909
Other charges (gains), net		(1,097	)		89
Total operating expenses		32,891			32,072
Income from operations		11,132			9,140
Other income (expenses)
Interest expense		(2,521	)		(3,079	)
Interest income		51			67
Non-operating loss		(447	)		-
Income before income taxes		8,215			6,128
Income tax expense (benefit)		1,811			(8,227	)
Net income		6,404			14,355
Net income attributable to noncontrolling interests		(60	)		(44	)
Net income attributable to RCIHH common shareholders	$	6,344		$	14,311

Earnings per share
Basic	$	0.65		$	1.47
Diluted	$	0.65		$	1.47
Weighted average number of common shares outstanding
Basic		9,713			9,719
Diluted		9,713			9,719

Dividends per share	$	0.03		$	0.03

See accompanying notes to condensed consolidated financial statements.

RCI HOSPITALITY HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

	For the Three Months
	Ended December 31,
	2018			2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	6,404		$	14,355
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		2,053			1,909
Deferred tax expense (credit)		458			(9,697	)
Loss (gain) on sale of assets		(1,176	)		140
Unrealized loss on equity securities		447			-
Amortization of debt discount and issuance costs		95			324
Deferred rent		142			75
Gain on insurance settlements		-			(20	)
Debt prepayment penalty		-			543
Changes in operating assets and liabilities:
Accounts receivable		1,723			(926	)
Inventories		(163	)		(270	)
Prepaid expenses and other assets		1,939			1,044
Accounts payable and accrued liabilities		(470	)		668
Net cash provided by operating activities		11,452			8,145
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of assets		1,245			632
Proceeds from insurance		-			20
Proceeds from notes receivable		32			28
Additions to property and equipment		(7,295	)		(2,769	)
Acquisition of businesses, net of cash acquired		(13,500	)		-
Net cash used in investing activities		(19,518	)		(2,089	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt		5,652			58,920
Payments on long-term debt		(5,279	)		(61,256	)
Debt prepayment penalty		-			(543	)
Purchase of treasury stock		(355	)		-
Payment of dividends		(291	)		(292	)
Payment of loan origination costs		-			(799	)
Distribution to noncontrolling interests		-			(54	)
Net cash used in financing activities		(273	)		(4,024	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(8,339	)		2,032
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		17,726			9,922
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	9,387		$	11,954

CASH PAID DURING PERIOD FOR:
Interest, net of amounts capitalized	$	2,345		$	2,890
Income taxes	$	243		$	157

See accompanying notes to condensed consolidated financial statements.

Non-cash and other transactions:

During the quarter ended December 31, 2018, in conjunction with the borrowings of $2.35 million from certain investors, the Company exchanged two notes payable with principal balances of $300,000 and $100,000 for two new notes amounting to $450,000 and $200,000, respectively. The Company received cash amounting to $1.95 million on the entire transaction. See Note 6.

During the quarter ended December 31, 2018, the Company acquired two clubs for a total acquisition price of $25.5 million by paying a total of $13.5 million at closing and executing three seller-financed notes for a total of $12.0 million. See Note 14.

During the quarter ended December 31, 2017, the Company refinanced $81.2 million of long-term debt comprised of 21 notes payable with the execution of three notes payable with a lender bank. The new notes and the repaid balance included $18.7 million worth of debt with the same lender bank.

During the quarter ended December 31, 2017, the Company borrowed $7.1 million from a lender to purchase an aircraft by trading in an aircraft that the Company owned and the assumption of the old aircraft’s note payable liability.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP” or “U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q of Regulation S-X. They do not include all information and footnotes required by GAAP for complete financial statements. The September 30, 2018 consolidated balance sheet data were derived from audited financial statements but do not include all disclosures required by GAAP. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements for the year ended September 30, 2018 included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on December 31, 2018. The interim unaudited condensed consolidated financial statements should be read in conjunction with those consolidated financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial statements, consisting solely of normal recurring adjustments, have been made. Operating results for the three months ended December 31, 2018 are not necessarily indicative of the results that may be expected for the year ending September 30, 2019.

2. Recent Accounting Standards and Pronouncements

In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. The standard’s effective date has been deferred by the issuance of ASU No. 2015-14, and is effective for annual periods beginning after December 15, 2017, and interim periods therein. The guidance permits using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). Early application is permitted but not before December 15, 2016, the ASU’s original effective date. The Company adopted the new revenue recognition standard as of October 1, 2018 using the cumulative effect method, which did not have a material impact on its consolidated financial statements. See Note 4.

In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which amends the guidance on the classification and measurement of financial instruments. Although the ASU retains many current requirements, it significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. The ASU also amends certain disclosure requirements associated with the fair value of financial instruments. The amendments of the ASU are effective for us for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company adopted ASU 2016-01 as of October 1, 2018. Our adoption required the Company to reclassify $220,000 from accumulated other comprehensive income to retained earnings as of the beginning of the quarter ended December 31, 2018. All succeeding unrealized gains or losses related the changes in the market value of our equity securities will be included in non-operating gains/losses in our consolidated statement of income.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), on accounting for leases which requires lessees to recognize most leases on their balance sheets for the rights and obligations created by those leases. The guidance requires enhanced disclosures regarding the amount, timing, and uncertainty of cash flows arising from leases, and will be effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. The guidance requires the use of a modified retrospective approach. We expect our consolidated balance sheets to be materially impacted upon adoption due to the recognition of right-of-use assets and lease liabilities related to currently classified operating leases. As a preparation for the evaluation and implementation of the new lease standard, we have started to collect real property and equipment leases on prior years affected by the standard. While we anticipate changes in the classification of expenses in our income statement and the timing of recognition of these expenses, we are still evaluating the materiality of the implementation of this standard.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

In February 2018, the FASB issued ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU provides financial statement preparers with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (“Tax Act”) is recorded. The ASU requires financial statement preparers to disclose (1) a description of the accounting policy for releasing income tax effects from AOCI; (2) whether they elect to reclassify the stranded income tax effects from the Tax Act; and (3) information about the other income tax effects that are reclassified. The amendments affect any organization that is required to apply the provisions of Topic 220, Income Statement—Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The ASU is effective for all organizations for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. Organizations should apply the proposed amendments either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. We believe that the adoption of this ASU will not have a material impact on our consolidated financial statements.

In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. This ASU expands the scope of Topic 718, which currently only includes share-based payments issued to employees, to include share-based payments issued to nonemployees for goods and services. This ASU is effective for the Company for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted, but no earlier than the Company’s adoption of ASU 2014-09. We are still evaluating the impact of this ASU on the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 modifies the disclosure requirements of Accounting Standards Codification (“ASC”) Topic 820 with certain removals, modifications, and additions. Eliminated disclosures that may affect the Company include (1) transfers between level 1 and level 2 of the fair value hierarchy, and (2) policies related to valuation processes and the timing of transfers between levels of the fair value hierarchy. Modified disclosures that may affect the Company include (1) a requirement to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse if the entity has communicated the timing publicly for investments in certain entities that calculate net asset value, and (2) clarification that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. Additional disclosures that may affect the Company include (1) disclosure of changes in unrealized gains and losses for the period included in other comprehensive income for recurring level 3 fair value measurements held at the end of the reporting period, and (2) disclosure of the range and weighted average of significant unobservable inputs used to develop level 3 fair value measurements. The update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures upon issuance of the ASU and delay adoption of the additional disclosures until the effective date. We are still evaluating the impact of this ASU on the Company’s consolidated financial statements.

Note 3. Revision of Prior Year Immaterial Misstatement

During the quarter ended December 31, 2018, the Company identified certain mechanical errors in our goodwill impairment analysis that was performed for our annual impairment testing for fiscal year ended September 30, 2018. These errors related to the use of an incorrect income tax rate assumption and the exclusion of certain debt service payments as part of our goodwill impairment testing for two of our reporting units, which resulted in a goodwill impairment charge of $834,000.

The Company assessed the materiality of these errors considering both qualitative and quantitative factors and determined that for both the quarter and fiscal year ended September 30, 2018, the errors were immaterial. The Company has decided to correct these immaterial errors as revisions to our previously issued financial statements and will adjust the Form 10-K when filed in succeeding periods of this fiscal year.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

The tables below present the impact of the revision in the Company’s consolidated financial statements (in thousands):

	Fiscal Year Ended September 30, 2018
	As Previously Reported		Adjustments			As Revised
Statement of Income/Comprehensive Income:
Other charges, net	$	8,350	$	834		$	9,184
Total operating expenses		137,352		834			138,186
Income from operations		28,396		(834	)		27,562
Income before income taxes		18,676		(834	)		17,842
Net income		21,794		(834	)		20,960
Net income attributable to RCIHH common shareholders		21,713		(834	)		20,879
Earnings per share - basic	$	2.23	$	(0.08	)	$	2.15
Earnings per share - diluted	$	2.23	$	(0.08	)	$	2.15
Comprehensive income	$	22,014	$	(834	)	$	21,180
Comprehensive income attributable to RCI Hospitality Holdings, Inc.		21,933		(834	)		21,099

	September 30, 2018
	As Previously Reported		Adjustment			As Revised
Balance Sheet/Statement of Changes in Stockholders’ Equity
Goodwill	$	44,425	$	(834	)	$	43,591
Total assets		330,566		(834	)		329,732
Retained earnings		89,740		(834	)		88,906
Total RCIHH stockholders’ equity		154,269		(834	)		153,435
Total stockholders’ equity		154,166		(834	)		153,332
Total liabilities and stockholders’ equity		330,566		(834	)		329,732

The table below presents the impact of the revision in the Company’s notes to its consolidated financial statements related to unaudited quarterly results of operations (in thousands):

	Quarter Ended September 30, 2018
	As Previously Reported			Adjustment			As Revised
Income from operations	$	1,533		$	(834	)	$	699
Net loss attributable to RCIHH common shareholders		(2,672	)		(834	)		(3,506	)
Loss per share - basic	$	(0.27	)	$	(0.09	)	$	(0.36	)
Loss per share - diluted	$	(0.27	)	$	(0.09	)	$	(0.36	)

The consolidated statements of cash flows are not presented because there is no impact on total cash flows from operating activities, investing activities and financing activities. Certain components of net cash provided by operating activities changed, as caused by the revision, but the net change amounted to zero for both quarter and fiscal year ended September 30, 2018.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

4. Revenues

On October 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers (formerly ASU 2014-09). The Company recognizes revenue from the sale of alcoholic beverages, food and merchandise, service and other revenues at the point-of-sale upon receipt of cash, check, or credit card charge, net of discounts and promotional allowances based on consideration specified in implied contracts with customers. Sales and liquor taxes collected from customers and remitted to governmental authorities are presented on a net basis in the accompanying consolidated statements of income. The Company recognizes revenue when it satisfies a performance obligation (point in time of sale) by transferring control over a product or service to a customer.

Commission revenues, such as ATM commission, are recognized when the basis for such commission has transpired. Revenues from the sale of magazines and advertising content are recognized when the issue is published and shipped. Revenues and external expenses related to the Company’s annual Expo convention are recognized upon the completion of the convention, which normally occurs during our fiscal fourth quarter. Other rental revenues are recognized when earned (recognized over time) and are more appropriately covered by guidance under ASC Topic 840, Leases.

Revenues, as disaggregated by revenue type, timing of recognition, and reportable segment (see Note 11), are shown below.

	Nightclubs			Bombshells		Other
Quarter ended December 31, 2018:
Sales of alcoholic beverages	$	14,802		$	3,508	$	-
Sales of food and merchandise		3,207			2,483		-
Service revenues		17,313			18		-
Other revenues		2,406			4		282
	$	37,728		$	6,013	$	282

Recognized at a point in time	$	37,392		$	6,013	$	267
Recognized over time	$	336	*	$	-	$	15

Quarter ended December 31, 2017:
Sales of alcoholic beverages	$	14,125		$	3,680	$	-
Sales of food and merchandise		3,162			2,145		-
Service revenues		15,889			-		-
Other revenues		2,042			3		166
	$	35,218		$	5,828	$	166

Recognized at a point in time	$	34,927		$	5,828	$	145
Recognized over time	$	291	*	$	-	$	21

* Rental revenue (included in Other Revenues) as covered by ASC Topic 840. All other revenues are covered by ASC Topic 606.

The Company does not have contract assets with customers. The Company’s unconditional right to consideration for goods and services transferred to the customer is included in accounts receivable, net in our consolidated balance sheet. A reconciliation of contract liabilities with customers is presented below:

	Balance at September 30, 2018		Consideration Received		Recognized in Revenue			Balance at December 31, 2018
Ad revenue	$	126	$	274	$	(181	)	$	219
Expo revenue		-		201		-			201
Other		8		1		-			9
	$	134	$	476	$	(181	)	$	429

Contract liabilities with customers are included in accrued liabilities as unearned revenues in our consolidated balance sheets (see also Note 5), while the revenues associated with these contract liabilities are included in other revenues in our consolidated statements of income.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

5. Selected Account Information

The components of accrued liabilities are as follows (in thousands):

	December 31, 2018		September 30, 2018
Insurance	$	2,627	$	3,807
Payroll and related costs		2,584		2,293
Property taxes		2,058		1,796
Sales and liquor taxes		1,959		1,883
Patron tax		640		532
Unearned revenues		429		134
Other		1,643		1,528
	$	11,940	$	11,973

The components of selling, general and administrative expenses are as follows (in thousands):

	For the Three Months
	Ended December 31,
	2018		2017
Taxes and permits	$	2,181	$	2,166
Advertising and marketing		2,148		1,965
Supplies and services		1,456		1,368
Insurance		1,353		1,259
Legal		1,058		377
Rent		1,019		940
Charge card fees		933		887
Utilities		744		695
Security		709		638
Accounting and professional fees		650		886
Repairs and maintenance		587		570
Other		1,189		1,061
	$	14,027	$	12,812

6. Long-Term Debt

On November 1, 2018, the Company raised $2.35 million through the issuance of 12% unsecured promissory notes to certain investors, which notes mature on November 1, 2021. The notes pay interest-only in equal monthly installments, with a lump sum principal payment at maturity. Among the promissory notes are two notes with a principal of $450,000 and $200,000. The $450,000 note was in exchange for a $300,000 12% note and the $200,000 note was in exchange for a $100,000 note, both of which were included in the May 1, 2017 financing to acquire Scarlett’s Cabaret in Miami. Also included in the $2.35 million borrowing is a $500,000 note borrowed from a related party (see Note 13).

On December 6, 2018, the Company amended the $5.0 million short-term note payable related to the Scarlett’s acquisition, which had a remaining balance of $3.0 million as of December 6, 2018, extending the maturity date from May 8, 2019, as previously amended, to May 8, 2020.

On December 11, 2018, the Company purchased an aircraft for $2.8 million with a $554,000 down payment and financed the remaining $2.2 million with a 5.49% promissory note payable in 20 years with monthly payments of $15,118, including interest.

As of December 31, 2018, the Company is in compliance with all its debt covenants.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

7. Stockholders’ Equity

During the quarter ended December 31, 2018, the Company purchased and retired 14,111 common shares at a cost of approximately $355,000. The Company paid a $0.03 per share cash dividend totaling approximately $291,000.

During the quarter ended December 31, 2017, the Company did not purchase shares of its common stock. The Company also paid a $0.03 per share cash dividend totaling approximately $292,000.

On January 2, 2019, the Company’s Board of Directors authorized an additional $10.0 million to repurchase the Company’s common stock.

8. Earnings Per Share

Basic earnings per share (“EPS”) includes no dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. Potential common stock shares consist of shares that may arise from outstanding dilutive common restricted stock, stock options and warrants (the number of which is computed using the “treasury stock method”) and from outstanding convertible debentures (the number of which is computed using the “if converted method”). Diluted EPS considers the potential dilution that could occur if the Company’s outstanding common restricted stock, stock options, warrants and convertible debentures were converted into common stock that then shared in the Company’s earnings (as adjusted for interest expense that would no longer occur if the debentures were converted).

During the quarter ended December 31, 2018 and 2017, the Company did not have adjustment items to reconcile the numerator and the denominator in the calculation of basic and diluted EPS.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

9. Income Taxes

Income taxes were an expense of $1.8 million in the first quarter of 2019 compared to a benefit of $8.2 million in the first quarter of 2018. The effective income tax rate for the first quarter of 2019 was an expense of 22.0% compared to a benefit of 134.3% for the first quarter of 2018. Our effective tax rate is affected by state taxes, permanent differences, and tax credits, including the FICA tip credit, for both years while the first quarter of 2018 was significantly impacted by a $9.7 million reduction of our deferred tax liability caused by newly enacted tax laws.

The Tax Cuts and Jobs Act (“Tax Act”) was enacted on December 22, 2017, and includes, among other items, a reduction in the federal corporate income tax rate from 35% to 21% effective January 1, 2018. Our federal corporate income tax rate for fiscal 2018 was 24.5% percent and represents a blended income tax rate for our fiscal year ended September 30, 2018. For fiscal 2019, our federal corporate income tax rate will be 21%.

Additionally, for the fiscal year ended September 30, 2018, in accordance with FASB ASC Topic 740, we remeasured our deferred tax balances to reflect the reduced rate that will apply when these deferred taxes are settled or realized in future periods. The remeasurement resulted in a $8.7 million full year adjustment of our net deferred tax liabilities reflected in our consolidated balance sheet as of September 30, 2018 and a corresponding income tax benefit reflected in our consolidated statements of earnings for the fiscal year ended September 30, 2018. The SEC staff issued Staff Accounting Bulletin No. 118 which allows companies to record provisional amounts during a measurement period that is similar to the measurement period used when accounting for business combinations. While we are able to make a reasonable estimate of the impacts of the Tax Act, adjustments may occur and may be affected by other factors, including, but not limited to, further refinement of our calculations, changes in interpretations and assumptions and regulatory changes from the Internal Revenue Service, the SEC, the FASB, and various tax jurisdictions.

Under generally accepted accounting principles, the Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. At September 30, 2017, the Company’s deferred tax assets and liabilities were determined based on the then-current enacted federal tax rate of 35%. As a result of the reduction in the corporate income tax rate under the Tax Act, the Company revalued its deferred tax assets and liabilities at December 31, 2017. Deferred tax assets and liabilities expected to be realized in fiscal year 2018 were re-measured using the aforementioned blended rate. All remaining deferred tax assets and liabilities were re-measured using the new statutory federal rate of 21%. There were no additional measurement adjustments since September 30, 2018 until the end of the measurement period on December 22. 2018.

The Company or one of its subsidiaries files income tax returns for U.S. federal jurisdiction and various states. Fiscal year ended September 30, 2016 remains open to tax examination. The Company’s federal income tax returns for the years ended September 30, 2015, 2014 and 2013 have been examined by the Internal Revenue Service with no changes. These years are now under examination for payroll taxes. The Company is also being examined for state income taxes, the settlement of which may occur within the next twelve months.

The Company accounts for uncertain tax positions pursuant to ASC Topic 740, Income Taxes. As of December 31, 2018 and September 30, 2018, the liability for uncertain tax positions totaled approximately $165,000 as of each date, which is included in current liabilities on our condensed consolidated balance sheets. The Company recognizes interest accrued related to uncertain tax positions in interest expense and penalties in selling, general and administrative expenses in our consolidated statements of income.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

10. Commitments and Contingencies

Legal Matters

Texas Patron Tax

In 2015, the Company reached a settlement with the State of Texas over the payment of the state’s Patron Tax on adult club customers. To resolve the issue of taxes owed, the Company agreed to pay $10.0 million in equal monthly installments of $119,000, without interest, over 84 months, beginning in June 2015, for all but two non-settled locations. The Company agreed to remit the Patron Tax on a monthly basis, based on the current rate of $5 per customer. For accounting purposes, the Company has discounted the $10.0 million at an imputed interest rate of 9.6%, establishing a net present value for the settlement of $7.2 million. As a consequence, the Company has recorded an $8.2 million pre-tax gain for the third quarter ending June 30, 2015, representing the difference between the $7.2 million and the amount previously accrued for the tax.

In March 2017, the Company settled with the State of Texas for one of the two remaining unsettled Patron Tax locations. To resolve the issue of taxes owed, the Company agreed to pay a total of $687,815 with $195,815 paid at the time the settlement agreement was executed followed by 60 equal monthly installments of $8,200 without interest.

The aggregate balance of Patron Tax settlement liability, which is included in long-term debt in the consolidated balance sheets, amounted to $4.2 million and $4.5 million as of December 31, 2018 and September 30, 2018, respectively.

A Declaratory judgment action was brought by five operating subsidiaries of the Company to challenge a Texas Comptroller administrative rule related to the $5 per customer Patron Tax Fee assessed against Sexually Oriented Businesses. An administrative rule attempted to expand the fee to cover venues featuring dancers using latex cover as well as traditional nude entertainment. The administrative rule was challenged on both constitutional and statutory grounds. On November 19, 2018, the Court issued an order that a key aspect of the administrative rule is invalid based on it exceeding the scope of the Comptroller’s authority. Constitutional challenges remain and will be resolved at trial.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Indemnity Insurance Corporation

As previously reported, the Company and its subsidiaries were insured under a liability policy issued by Indemnity Insurance Corporation, RRG (“IIC”) through October 25, 2013. The Company and its subsidiaries changed insurance companies on that date.

On November 7, 2013, the Court of Chancery of the State of Delaware entered a Rehabilitation and Injunction Order (“Rehabilitation Order”), which declared IIC impaired, insolvent and in an unsafe condition and placed IIC under the supervision of the Insurance Commissioner of the State of Delaware (“Commissioner”) in her capacity as receiver (“Receiver”). The Rehabilitation Order empowered the Commissioner to rehabilitate IIC through a variety of means, including gathering assets and marshaling those assets as necessary. Further, the order stayed or abated pending lawsuits involving IIC as the insurer until May 6, 2014.

On April 10, 2014, the Court of Chancery of the State of Delaware entered a Liquidation and Injunction Order With Bar Date (“Liquidation Order”), which ordered the liquidation of IIC and terminated all insurance policies or contracts of insurance issued by IIC. The Liquidation Order further ordered that all claims against IIC must be filed with the Receiver before the close of business on January 16, 2015 and that all pending lawsuits involving IIC as the insurer are further stayed or abated until October 7, 2014. As a result, the Company and its subsidiaries no longer have insurance coverage under the liability policy with IIC. Currently, there are several civil lawsuits pending against the Company and its subsidiaries. The Company has retained counsel to defend against and evaluate these claims and lawsuits. We are funding 100% of the costs of litigation and will seek reimbursement from the bankruptcy receiver. The Company filed the appropriate claims against IIC with the Receiver before the January 16, 2015 deadline and has provided updates as requested; however, there are no assurances of any recovery from these claims. It is unknown at this time what effect this uncertainty will have on the Company. As previously stated, since October 25, 2013, the Company has obtained general liability coverage from other insurers, which have covered and/or will cover any claims arising from actions after that date. As of December 31, 2018, we have 2 unresolved claims out of the original 71 claims.

General

The Company has been sued by a landlord in the 333rd Judicial District Court of Harris County, Texas for a Houston Bombshells which was under renovation in 2015. The plaintiff alleges RCI Hospitality Holdings, Inc.’s subsidiary, BMB Dining Services (Willowbrook), Inc., breached a lease agreement by constructing an outdoor patio, which allegedly interfered with the common areas of the shopping center, and by failing to provide Plaintiff with proposed plans before beginning construction. Plaintiff also asserts RCI Hospitality Holdings, Inc. is liable as guarantor of the lease. The lease was for a Bombshells restaurant to be opened in the Willowbrook Shopping Center in Houston, Texas. Both RCI Hospitality Holdings, Inc. and BMB Dining Services (Willowbrook), Inc. have denied liability and assert that Plaintiff has failed to mitigate its claimed damages. Further, BMB Dining Services (Willowbrook), Inc. asserts that Plaintiff affirmatively represented that the patio could be constructed under the lease and has filed counter claims and third-party claims against Plaintiff and Plaintiff’s manager asserting that they committed fraud and that the landlord breached the applicable agreements. While the case was tried to a jury in late September 2018 and an adverse judgment was entered in January 2019, such judgment remains modifiable, substantial disputes remain related to the legal impact of the jury’s verdict, and the parties are currently engaged in motion practice to resolve their disputes. It is unknown at this time whether the resolution of this uncertainty will have a material effect on the Company’s financial condition.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

On June 23, 2014, Mark H. Dupray and Ashlee Dupray filed a lawsuit against Pedro Antonio Panameno and our subsidiary JAI Dining Services (Phoenix) Inc. (“JAI Phoenix”) in the Superior Court of Arizona for Maricopa County. The suit alleged that Mr. Panameno injured Mr. Dupray in a traffic accident after being served alcohol at an establishment operated by JAI Phoenix. The suit alleged that JAI Phoenix was liable under theories of common law dram shop negligence and dram shop negligence per se. After a jury trial proceeded to a verdict in favor of the plaintiffs against both defendants, in April 2017 the Court entered a judgment under which JAI Phoenix’s share of compensatory damages is approximately $1.4 million and its share of punitive damages is $4 million. In May 2017, JAI Phoenix filed a motion for judgment as a matter of law or, in the alternative, motion for new trial. The Court denied this motion in August 2017. In September 2017, JAI Phoenix filed a notice of appeal. In June 2018, the matter was heard by the Arizona Court of Appeals. On November 15, 2018 the Court of Appeals vacated the jury’s verdict and remanded the case to the trial court. It is anticipated that a new trial will occur at some point in the future. JAI Phoenix will continue to vigorously defend itself.

Settlements of lawsuits for the quarters ended December 31, 2018 and 2017 total $60,000 and $27,000, respectively. As of December 31, 2018 or September 30, 2018, the Company has nothing accrued related to settlement of lawsuits.

11. Segment Information

The Company owns and operates adult nightclubs and Bombshells Restaurants and Bars. The Company has identified such reportable segments based on management responsibility and the nature of the Company’s products, services, and costs. There are no major distinctions in geographical areas served as all operations are in the United States. The Company measures segment profit (loss) as income (loss) from operations. Segment assets are those assets controlled by each reportable segment. The Other category below includes our media and energy drink divisions that are not significant to the consolidated financial statements.

Below is the financial information related to the Company’s segments (in thousands):

	For the Three Months
	Ended December 31,
	2018			2017
Revenues
Nightclubs	$	37,728		$	35,218
Bombshells		6,013			5,828
Other		282			166
	$	44,023		$	41,212

Income (loss) from operations
Nightclubs	$	15,387		$	13,371
Bombshells		119			891
Other		(119	)		(137	)
General corporate		(4,255	)		(4,985	)
	$	11,132		$	9,140

Depreciation and amortization
Nightclubs	$	1,507		$	1,335
Bombshells		292			336
Other		104			2
General corporate		150			236
	$	2,053		$	1,909

Capital expenditures
Nightclubs	$	447		$	450
Bombshells		4,009			2,228
Other		9			-
General corporate		2,830			91
	$	7,295		$	2,769

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

	December 31, 2018		September 30, 2018
			(As Revised)
Total assets
Nightclubs	$	269,313	$	252,335
Bombshells		43,540		39,560
Other		2,144		1,978
General corporate		34,525		35,859
	$	349,522	$	329,732

General corporate expenses include corporate salaries, health insurance and social security taxes for officers, legal, accounting and information technology employees, corporate taxes and insurance, legal and accounting fees, depreciation and other corporate costs such as automobile and travel costs. Management considers these to be non-allocable costs for segment purposes.

12. Noncontrolling Interests

Noncontrolling interests represent the portion of equity in a consolidated entity held by owners other than the consolidating parent. Noncontrolling interests are reported in the consolidated balance sheets within equity, separately from stockholders’ equity. Revenue, expenses and net income attributable to both the Company and the noncontrolling interests are reported in the consolidated statements of income.

Our consolidated financial statements include noncontrolling interests related principally to the Company’s ownership of 51% of an entity which owns one of the Company’s nightclubs in New York City.

13. Related Party Transactions

Presently, our Chairman and President, Eric Langan, personally guarantees all of the commercial bank indebtedness of the Company. Mr. Langan receives no compensation or other direct financial benefit for any of the guarantees.

Included in the $2.35 million borrowing on November 1, 2018 (see Note 6) was a $500,000 note borrowed from a related party. The terms of this related party note are similar to the rest of the lender group in the November 1, 2018 transaction.

14. Acquisitions and Disposition

In October 2018, the Company sold its nightclub in Philadelphia for a total sales price of $1.0 million, payable $375,000 in cash at closing and a $625,000 9% note payable over a 10-year period. The note is payable interest-only for twelve months at the conclusion of which time a balloon payment of $250,000 is due, and then the remainder of the principal and interest is payable in 108 equal installments of $5,078 per month until October 2028. The buyer will lease the property from the Company’s real estate subsidiary under the following terms: $36,000 per month lease payments for ten years; renewal option for a succeeding ten years at a minimum of $48,000 per month; lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028. The Company recorded a gain on the sale transaction of approximately $879,000, which is included in other charges (gains), net in our consolidated statement of income during the quarter ended December 31, 2018.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

On November 1, 2018, a club in Chicago was acquired for a total consideration of $10.5 million with $6.0 million cash paid at closing, including acquisition-related costs, and the $4.5 million in a 6-year seller financed note with interest at 7%. The Company paid approximately $37,000 in acquisition-related costs for this transaction, which is included in selling, general and administrative expenses in our consolidated statement of income. The club generated revenue of approximately $742,000 since acquisition date.

The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):

Land and building	$	4,325
Inventory		57
Furniture and equipment		50
Noncompete		100
SOB license		5,968
Goodwill		1,463
Deferred tax liability		(1,463	)
Net assets	$	10,500

On November 5, 2018, a Pittsburgh club was acquired for a total consideration of $15.1 million, with $7.6 million cash paid at closing, including acquisition-related costs, and two seller notes payable. The first note is 2-year 7% note for $2.0 million, and the second is a 10-year 8% note for $5.5 million. The Company paid approximately $134,000 in acquisition-related costs for this transaction, which is included in selling, general and administrative expenses in our consolidated statement of income. The club generated revenue of approximately $892,000 since acquisition date.

The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):

Land and building	$	5,000
Inventory		23
Furniture and equipment		200
Noncompete		100
Goodwill		9,677
Net assets	$	15,000

It is management’s expectation that the purchase price of these acquisitions will be allocated to assets, including land, buildings, inventory, noncompetes, SOB license, and goodwill; however, the final purchase price allocation of the two clubs remains subject to post-closing adjustments until the Company has completed final valuation and accounting for the transactions.

Subsequent to the quarter ended December 31, 2018, the Company sold a held-for-sale property in Dallas, Texas for a total sales price of $1.4 million, payable $163,000 in cash at closing, net of closing costs and property taxes of $87,000, and a $1.15 million 8% note payable over a three-year period. The note is payable $9,619 per month, principal and interest, for the first 35 months with the remaining balance payable at maturity. The buyer has the option to extend the maturity date by one year at least 60 days prior to maturity, as long as the buyer is not in default. The Company recorded a preliminary gain on the sale transaction of approximately $383,000.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion should be read in conjunction with our consolidated financial statements and related notes thereto included in this quarterly report, and the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended September 30, 2018.

Overview

RCI Hospitality Holdings, Inc. (“RCIHH”) is a holding company engaged in a number of activities in the hospitality and related businesses. All services and management operations are conducted by subsidiaries of RCIHH, including RCI Management Services, Inc.

Through our subsidiaries, as of December 31, 2018, we operated a total of 46 establishments that offer live adult entertainment and/or restaurant and bar operations. We also operated a leading business communications company serving the multi-billion-dollar adult nightclubs industry. We have two principal reportable segments: Nightclubs and Bombshells. We combine other operating segments into “Other.” In the context of club and restaurant/sports bar operations, the terms the “Company,” “we,” “our,” “us” and similar terms used in this report refer to subsidiaries of RCIHH. RCIHH was incorporated in the State of Texas in 1994. Our corporate offices are located in Houston, Texas.

Critical Accounting Policies and Estimates

The preparation of the unaudited consolidated financial statements requires our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On a regular basis, we evaluate these estimates, including investment impairment. These estimates are based on management’s historical industry experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

For a description of the accounting policies that, in management’s opinion, involve the most significant application of judgment or involve complex estimation and which could, if different judgment or estimates were made, materially affect our reported financial position, results of operations, or cash flows, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Critical Accounting Policies and Estimates” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2018 filed with the SEC on December 31, 2018.

During the three months ended December 31, 2018, there were no significant changes in our accounting policies and estimates other than the newly adopted accounting standards that are disclosed in Note 2 to our consolidated financial statements.

Results of Operations

A summary of the operating results and the strategic activities of the Company during the quarter ended December 31, 2018 is as follows:

	●	Revenues of $44.0 million during the first quarter of fiscal 2019 compared to $41.2 million during the first quarter of fiscal 2018, a 6.8% increase (Nightclubs revenue of $37.7 million compared to $35.2 million, a 7.1% increase; and Bombshells revenue of $6.0 million compared to $5.8 million, a 3.2% increase)
	●	Consolidated same-store sales increase of 0.7% (4.3% increase for Nightclubs and 20.5% decrease for Bombshells)
	●	Diluted earnings per share (“EPS”) of $0.65 compared to $1.47, a 55.8% decrease (non-GAAP diluted EPS* of $0.61 compared to $0.53, a 15.1% increase)
	●	Net cash provided by operating activities of $11.5 million compared to $8.1 million, a 40.6% increase (free cash flow* of $11.1 million compared to $7.5 million, a 47% increase)
	●	Completed the acquisition of one club in Pittsburgh, Pennsylvania for $15.0 million and another club in Chicago, Illinois for $10.5 million

*	Reconciliation and discussion of non-GAAP financial measures are included in the “Non-GAAP Financial Measures” section below.

The following table summarizes our results of operations for the three months ended December 31, 2018 and 2017 (dollars in thousands):

	For the Three Months Ended
	December 31, 2018						December 31, 2017						Increase (Decrease)
	Amount			% of Revenues			Amount			% of Revenues			Amount			%
Revenues
Sales of alcoholic beverages	$	18,310			41.6	%	$	17,805			43.2	%	$	505			2.8	%
Sales of food and merchandise		5,690			12.9	%		5,307			12.9	%		383			7.2	%
Service revenues		17,331			39.4	%		15,889			38.6	%		1,442			9.1	%
Other		2,692			6.1	%		2,211			5.4	%		481			21.8	%
Total revenues		44,023			100.0	%		41,212			100.0	%		2,811			6.8	%
Operating expenses
Cost of goods sold
Alcoholic beverages sold		3,736			20.4	%		3,755			21.1	%		(19	)		-0.5	%
Food and merchandise sold		1,984			34.9	%		2,094			39.5	%		(110	)		-5.3	%
Service and other		92			0.5	%		36			0.2	%		56			155.6	%
Total cost of goods sold (exclusive of items shown separately below)		5,812			13.2	%		5,885			14.3	%		(73	)		-1.2	%
Salaries and wages		12,096			27.5	%		11,377			27.6	%		719			6.3	%
Selling, general and administrative		14,027			31.9	%		12,812			31.1	%		1,215			9.5	%
Depreciation and amortization		2,053			4.7	%		1,909			4.6	%		144			7.5	%
Other charges (gains), net		(1,097	)		-2.5	%		89			0.2	%		(1,186	)		1,332.6	%
Total operating expenses		32,891			74.7	%		32,072			77.8	%		819			2.6	%
Income from operations		11,132			25.3	%		9,140			22.2	%		1,992			21.8	%
Other income (expenses)
Interest expense		(2,521	)		-5.7	%		(3,079	)		-7.5	%		(558	)		-18.1	%
Interest income		51			0.1	%		67			0.2	%		(16	)		-23.9	%
Non-operating loss		(447	)		-1.0	%		-			-			447			100.0	%
Income before income taxes		8,215			18.7	%		6,128			14.9	%		2,087			34.1	%
Income tax expense (benefit)		1,811			4.1	%		(8,227	)		-20.0	%		10,038			122.0	%
Net income	$	6,404			14.5	%	$	14,355			34.8	%	$	(7,951	)		-55.4	%

* Percentages may not foot due to rounding. Percentage of revenue for individual cost of goods sold items pertains to their respective revenue line.

Revenues

Consolidated revenues increased by $2.8 million, or 6.8%, due primarily to an 8.0% increase from new units, 0.7% increase in same-store sales (contributing the same percentage increase in total revenues), a 2.2% decrease from closed units, and a 0.4% increase in other revenues. Nightclub same-store sales increased by 4.3% while Bombshells same-store sales decreased by 20.5%.

Segment contribution to total revenues was as follows (in thousands):

	For the Three Months
	Ended December 31,
	2018		2017
Nightclubs	$	37,728	$	35,218
Bombshells		6,013		5,828
Other		282		166
	$	44,023	$	41,212

Nightclubs same-store sales growth continued to reflect effective marketing, management and appeal, combined with a good economy. Sales from new clubs included $1.6 million from the two clubs we acquired in November 2018 and $267,000 from a club acquired in May 2018.

Bombshells same-store sales had tough year-over-year comparisons partly due to the higher Houston area business generated in October 2017 from the pro baseball championship and a shorter playoff cycle in the current quarter. However, each month of the current quarter showed significant same-store sales improvement on a sequential basis. Sales from new units were primarily from two Houston area locations that opened in April 2018 and in December 2018.

Operating Expenses

Total operating expenses, as a percent of revenues, decreased to 74.7% from 77.8% from year-ago although dollar value increased by $819,000, or 2.6%, which was significantly affected by gains from the sale of a Philadelphia club and two assets held for sale. Significant contributors to the changes in operating expenses are explained below.

Cost of goods sold decreased by 1.2% though total revenues increased by 6.8% due to tighter food cost control piloted in some of our larger clubs. As a percent of total revenues, cost of goods sold decreased to 13.2% from 14.3% mainly due to tighter food cost control piloted in some of our larger clubs, higher sales in higher-margin Nightclub markets such as New York and Minneapolis, and lower sales at Bombshells.

Salaries and wages increased by $719,000, or 6.3%, mainly due to newly acquired and opened units. As a percent of total revenues, salaries and wages were flat at 27.5% from 27.6%.

Selling, general and administrative expenses increased by $1.2 million, or 9.5%, primarily due to increases in legal expenses, advertising and marketing, and various other individually insignificant increases, partially offset by decreases in professional fees. Legal expenses increased mainly due to trial costs associated with two cases and the acquisition of two clubs, while advertising and marketing increased primarily due to additional expenses from acquired clubs and a new marketing program for Bombshells. Professional fees decreased primarily due to fiscal 2017 year-end audit overage costs billed in the first quarter of 2018. As a percent of total revenues, selling, general and administrative expenses increased to 31.9% from 31.1% mainly due to legal expenses.

Depreciation and amortization increased by $144,000, or 7.5% due to higher unit count.

Other charges (gains), net resulted to a net gain of $1.1 million in the current quarter compared to a net charge of $89,000 in the prior-year quarter. The primarily causes of the shift were the gains from the sale of a club in Philadelphia and two assets held for sale. Net cash proceeds from the three transactions amounted to $1.2 million, excluding another $625,000 in note receivable from the Philadelphia club sale.

Income from Operations

For the three months ended December 31, 2018 and 2017, our operating margin was 25.3% and 22.2%, respectively. The main drivers for the increase in operating margin are the gains from the sale of certain assets and the decrease in cost of goods sold, as discussed above.

Segment contribution to income from operations is presented in the table below (in thousands):

	For the Three Months
	Ended December 31,
	2018			2017
Nightclubs	$	15,387		$	13,371
Bombshells		119			891
Other		(119	)		(137	)
General corporate		(4,255	)		(4,985	)
	$	11,132		$	9,140

Operating margin for the Nightclubs segment was 40.8% and 38.0% for the three months ended December 31, 2018 and 2017, respectively, while operating margin for Bombshells was 2.0% and 15.3%, respectively. The increase in Nightclubs operating margin was mainly due to the increase in sales mix of higher-margin service revenue, favorable leverage caused by fixed expenses on increasing sales and the contribution of newly acquired units. The decrease in Bombshells operating margin was primarily due to negative same-stores sales and the costs associated with the new marketing program.

Non-Operating Items

Interest expense decreased to $2.5 million from $3.1 million due to the writeoff of debt issuance costs and prepayment penalties related to our debt refinancing amounting to $827,000 and the higher weighted average interest rate in the prior year. This was partially offset by the higher average debt balance in the current year.

Our total occupancy costs, defined as the sum of rent expense and interest expense, exclusive of prior-year refinancing-related costs above, were 8.0% and 7.7% of revenue during the quarter ended December 31, 2018 and 2017, respectively. The higher occupancy costs in the current quarter were due to the interest expense incurred at multiple Bombshells units under construction, which do not currently contribute to revenue as well as a higher debt balance.

As part of our adoption of ASU 2016-01, we recorded a $447,000 unrealized loss on the market value of equity securities during the current quarter. The cumulative net gain in market value of available-for sale securities, which was recorded in accumulated other comprehensive income as of September 30, 2018, has been reclassified to retained earnings as of the beginning of the quarter ended December 31, 2018.

Income Taxes

Non-GAAP Financial Measures

In addition to our financial information presented in accordance with GAAP, management uses certain non-GAAP financial measures, within the meaning of the SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. Generally, a non-GAAP financial measure is a numerical measure of a company’s operating performance, financial position or cash flows that excludes or includes amounts that are included in or excluded from the most directly comparable measure calculated and presented in accordance with GAAP. We monitor non-GAAP financial measures because it describes the operating performance of the Company and helps management and investors gauge our ability to generate cash flow, excluding (or including) some items that management believes are not representative of the ongoing business operations of the Company, but are included in (or excluded from) the most directly comparable measures calculated and presented in accordance with GAAP. Relative to each of the non-GAAP financial measures, we further set forth our rationale as follows:

Non-GAAP Operating Income and Non-GAAP Operating Margin. We calculate non-GAAP operating income and non-GAAP operating margin by excluding the following items from income from operations and operating margin: amortization of intangibles, gains or losses on sale of assets, gain on insurance, and settlement of lawsuits. We believe that excluding these items assists investors in evaluating period-over-period changes in our operating income and operating margin without the impact of items that are not a result of our day-to-day business and operations.

Non-GAAP Net Income and Non-GAAP Net Income per Diluted Share. We calculate non-GAAP net income and non-GAAP net income per diluted share by excluding or including certain items to net income attributable to RCIHH common shareholders and diluted earnings per share. Excluded items are: amortization of intangibles, costs and charges related to debt refinancing, income tax expense (benefit), gains or losses on sale of assets, gain on insurance, and settlement of lawsuits. Included item is the non-GAAP provision for current and deferred income taxes, calculated at 22.2% and 26.5% effective tax rate of the pre-tax non-GAAP income before taxes for the quarter ended December 31, 2018 and 2017, respectively. We believe that excluding and including such items help management and investors better understand our operating activities.

Adjusted EBITDA. We calculate adjusted EBITDA by excluding the following items from net income attributable to RCIHH common shareholders: depreciation expense, amortization of intangibles, income tax expense (benefit), net interest expense, gains or losses on sale of assets, gain on insurance, and settlement of lawsuits. We believe that adjusting for such items helps management and investors better understand our operating activities. Adjusted EBITDA provides a core operational performance measurement that compares results without the need to adjust for federal, state and local taxes which have considerable variation between domestic jurisdictions. The results are, therefore, without consideration of financing alternatives of capital employed. We use adjusted EBITDA as one guideline to assess our unleveraged performance return on our investments. Adjusted EBITDA is also the target benchmark for our acquisitions of nightclubs.

We also use certain non-GAAP cash flow measures such as free cash flow. See “Liquidity and Capital Resources” section for further discussion.

The following tables present our non-GAAP performance measures for the quarters ended December 31, 2018 and 2017 (in thousands, except per share amounts and percentages):

	For the Three Months
	Ended December 31,
	2018			2017
Reconciliation of GAAP net income to Adjusted EBITDA
Net income attributable to RCIHH common shareholders	$	6,344		$	14,311
Income tax expense (benefit)		1,811			(8,227	)
Interest expense, net		2,470			3,012
Settlement of lawsuits		60			27
Loss (gain) on sale of assets		(1,157	)		82
Unrealized loss on equity securities		447			-
Gain on insurance		-			(20	)
Depreciation and amortization		2,053			1,909
Adjusted EBITDA	$	12,028		$	11,094

Reconciliation of GAAP net income (loss) to non-GAAP net income
Net income attributable to RCIHH common shareholders	$	6,344		$	14,311
Amortization of intangibles		156			48
Settlement of lawsuits		60			27
Income tax expense (benefit)		1,811			(8,227	)
Loss (gain) on sale of assets		(1,157	)		82
Unrealized loss on equity securities		447			-
Gain on insurance		-			(20	)
Costs and charges related to debt refinancing		-			827
Non-GAAP benefit (expense) for income taxes
Current		(1,109	)		45
Deferred		(592	)		(1,913	)
Non-GAAP net income	$	5,960		$	5,180

Reconciliation of GAAP diluted earnings per share to non-GAAP diluted earnings per share
Diluted shares		9,713			9,719
GAAP diluted earnings per share	$	0.65		$	1.47
Amortization of intangibles		0.02			0.00
Settlement of lawsuits		0.01			0.00
Income tax expense		0.19			(0.85	)
Loss (gain) on sale of assets		(0.12	)		0.01
Unrealized loss on equity securities		0.05			-
Gain on insurance		-			(0.00	)
Costs and charges related to debt refinancing		-			0.09
Non-GAAP benefit (expense) for income taxes
Current		(0.12	)		0.00
Deferred		(0.06	)		(0.19	)
Non-GAAP diluted earnings per share	$	0.61		$	0.53

Reconciliation of GAAP operating income to non-GAAP operating income
Income from operations	$	11,132		$	9,140
Amortization of intangibles		156			48
Settlement of lawsuits		60			27
Loss (gain) on sale of assets		(1,157	)		82
Gain on insurance		-			(20	)
Non-GAAP operating income	$	10,191		$	9,277

Reconciliation of GAAP operating margin to non-GAAP operating margin
Income from operations		25.3	%		22.2	%
Amortization of intangibles		0.4	%		0.1	%
Settlement of lawsuits		0.1	%		0.1	%
Loss (gain) on sale of assets		-2.6	%		0.2	%
Gain on insurance		-			0.0	%
Non-GAAP operating margin		23.1	%		22.5	%

* Per share amounts and percentages may not foot due to rounding.

The adjustments to reconcile net income attributable to RCIHH common shareholders to non-GAAP net income exclude the impact of adjustments related to noncontrolling interests, which is immaterial.

Liquidity and Capital Resources

At December 31, 2018, our cash and cash equivalents were $9.4 million compared to $17.7 million at September 30, 2018. Because of the large volume of cash we handle, we have very stringent cash controls. As of December 31, 2018, we had negative working capital of $6.5 million compared to a positive working capital of $55,000 as of September 30, 2018, both figures excluding assets held for sale of $2.4 million as of December 31, 2018 and $2.9 million as of September 30, 2018. We believe our ability to generate cash from operating activities is one of our fundamental financial strengths. Our net cash provided by operating activities increased to $11.5 million during the quarter ended December 31, 2018 from $8.1 million during the quarter ended December 31, 2017. The near-term outlook for our business remains strong, and we expect to generate substantial cash flows from operations for the entire fiscal 2019. As a result of our expected cash flows from operations, we have significant flexibility to meet our financial commitments.

We have not recently raised capital through the issuance of equity securities. Instead, we use debt financing to lower our overall cost of capital and increase our return on stockholders’ equity. We have a history of borrowing funds in private transactions and from sellers in acquisition transactions, and have recently secured traditional bank financing on our new development projects and refinancing of our existing notes payable. We continue to have the ability to borrow funds at reasonable interest rates from those sources. We also have historically utilized these cash flows to invest in property and equipment, adult nightclubs and restaurants/sports bars.

The following table presents a summary of our cash flows from operating, investing, and financing activities (in thousands):

	For the Three Months
	Ended December 31,
	2018			2017
Operating activities	$	11,452		$	8,145
Investing activities		(19,518	)		(2,089	)
Financing activities		(273	)		(4,024	)
Net increase (decrease) in cash and cash equivalents	$	(8,339	)	$	2,032

Cash Flows from Operating Activities

Following are our summarized cash flows from operating activities (in thousands):

	For the Three Months
	Ended December 31,
	2018			2017
Net income	$	6,404		$	14,355
Depreciation and amortization		2,053			1,909
Deferred tax expense (benefit)		458			(9,697	)
Debt prepayment penalty		-			543
Net change in operating assets and liabilities		3,029			516
Other		(492	)		519
Net cash provided by operating activities	$	11,452		$	8,145

Net cash provided by operating activities increased from year-to-year due primarily to the increase in income from operations, lower interest expense paid, and a favorable net change in operating assets and liabilities, partially offset by higher income taxes paid.

Cash Flows from Investing Activities

Following are our cash flows from investing activities (in thousands):

	For the Three Months Ended December 31,
	2018			2017
Additions to property and equipment	$	(7,295	)	$	(2,769	)
Acquisition of businesses, net of cash acquired		(13,500	)		-
Proceeds from sale of assets		1,245			632
Proceeds from insurance		-			20
Proceeds from notes receivable		32			28
Net cash used in investing activities	$	(19,518	)	$	(2,089	)

Following is a breakdown of our additions to property and equipment for the quarters ended December 31, 2018 and 2017 (in thousands):

	For the Three Months Ended December 31,
	2018		2017
New facilities and equipment	$	6,919	$	2,161
Maintenance capital expenditures		376		608
Total capital expenditures	$	7,295	$	2,769

The capital expenditures during the quarter ended December 31, 2018 were composed primarily of construction and development costs for four new locations, while the capital expenditures during the quarter ended December 31, 2017 were composed primarily of construction and development costs for one new location. Variances in capital expenditures are primarily due to the number and timing of new, remodeled, or reconcepted locations under construction.

Current quarter acquisitions of $13.5 million relate to $7.5 million cash paid on the Pittsburgh club acquisition and the $6.0 million cash paid on the Chicago club acquisition.

Cash Flows from Financing Activities

Following are our cash flows from financing activities (in thousands):

	For the Three Months
	Ended December 31,
	2018			2017
Proceeds from long-term debt	$	5,652		$	58,920
Payments on long-term debt		(5,279	)		(61,256	)
Debt prepayment penalty		-			(543	)
Purchase of treasury stock		(355	)		-
Payment of dividends		(291	)		(292	)
Payment of loan origination costs		-			(799	)
Distribution to noncontrolling interests		-			(54	)
Net cash used in financing activities	$	(273	)	$	(4,024	)

We purchased 14,111 shares treasury shares at an average price of $25.21 during the quarter ended December 31, 2018, while we did not purchase shares of our Company’s common stock during the quarter ended December 31, 2017. We paid quarterly dividends of $0.03 per share during both current and prior-year quarters.

Management also uses certain non-GAAP cash flow measures such as free cash flow. Free cash flow is derived from net cash provided by operating activities less maintenance capital expenditures. We use free cash flow as the baseline for the implementation of our capital allocation strategy.

	For the Three Months
	Ended December 31,
	2018		2017
Net cash provided by operating activities	$	11,452	$	8,145
Less: Maintenance capital expenditures		376		608
Free cash flow	$	11,076	$	7,537

Though we generated a sizeable amount of free cash flow during the quarter ended December 31, 2018, we still ended with a net decrease in cash and cash equivalents from the most recent year-end due to our acquisition of two new clubs.

Other than the notes payable financing described above, we are not aware of any event or trend that would potentially significantly affect liquidity. In the event such a trend develops, we believe our working capital and capital expenditure requirements will be adequately met by cash flows from operations. In our opinion, working capital is not a true indicator of our financial status. Typically, businesses in our industry carry current liabilities in excess of current assets because businesses in our industry receive substantially immediate payment for sales, with nominal receivables, while inventories and other current liabilities normally carry longer payment terms. Vendors and purveyors often remain flexible with payment terms, providing businesses in our industry with opportunities to adjust to short-term business down turns. We consider the primary indicators of financial status to be the long-term trend of revenue growth, the mix of sales revenues, overall cash flow, profitability from operations and the level of long-term debt.

The following table presents a summary of such indicators for the quarters ended December 31:

			Increase					Increase
	2018		(Decrease)			2017		(Decrease)			2016

Sales of alcoholic beverages	$	18,310		2.8	%	$	17,805		23.9	%	$	14,375
Sales of food and merchandise		5,690		7.2	%		5,307		26.1	%		4,207
Service revenues		17,331		9.1	%		15,889		17.9	%		13,475
Other		2,692		21.8	%		2,211		31.5	%		1,682
Total revenues		44,023		6.8	%		41,212		22.1	%		33,739
Net cash provided by operating activities	$	11,452		40.6	%	$	8,145		47.5	%	$	5,521
Adjusted EBITDA*	$	12,028		8.4	%	$	11,094		38.6	%	$	8,006
Free cash flow*	$	11,076		47.0	%	$	7,537		47.0	%	$	5,127
Long-term debt	$	153,095		21.5	%	$	125,992		19.3	%	$	105,620

* See definition and calculation of Adjusted EBITDA and Free Cash Flow above in the Non-GAAP Financial Measures subsection of Results of Operations.

Share Repurchase

We purchased 14,111 shares of our stock at an average price of $25.21 per share during the quarter ended December 31, 2018, while we did not purchase shares of our common stock during the quarter ended December 31, 2017. As of December 31, 2018, we have $2.8 million remaining to purchase additional shares under our share repurchase program.

Subsequent to the quarter ended December 31, 2018, the Company’s Board of Directors authorized an additional $10.0 million to repurchase the Company’s common stock. See Note 7 to the consolidated financial statements.

Other Liquidity and Capital Resources

We have not established financing other than the notes payable discussed in Note 6 to the consolidated financial statements. There can be no assurance that we will be able to obtain additional financing on reasonable terms in the future, if at all, should the need arise.

We believe that the adult entertainment industry standard of treating entertainers as independent contractors provides us with safe harbor protection to preclude payroll tax assessment for prior years. We have prepared plans that we believe will protect our profitability in the event that the sexually-oriented business industry is required in all states to convert dancers who are now independent contractors into employees.

The sexually-oriented business industry is highly competitive with respect to price, service and location, as well as the professionalism of the entertainment. Although management believes that we are well-positioned to compete successfully in the future, there can be no assurance that we will be able to maintain our high level of name recognition and prestige within the marketplace.

Impact of Inflation

We have not experienced a material overall impact from inflation in our operations during the past several years. To the extent permitted by competition, we have managed to recover increased costs through price increases and may continue to do so. However, there can be no assurance that we will be able to do so in the future.

Seasonality

Our nightclub operations are affected by seasonal factors. Historically, we have experienced reduced revenues from April through September (our fiscal third and fourth quarters) with the strongest operating results occurring during October through March (our fiscal first and second quarters). Our revenues in certain markets are also affected by sporting events that cause unusual changes in sales from year to year.

Capital Allocation Strategy

Our capital allocation strategy provides us with disciplined guidelines on how we should use our free cash flows; provided however, that we may deviate from this strategy if the circumstances warrant. We calculate free cash flow as net cash flows from operating activities minus maintenance capital expenditures. Using the after-tax yield of buying our own stock as baseline, we believe we are able to make better investment decisions unless there is another strategic rationale, in management’s opinion.

Based on our current capital allocation strategy:

	●	We consider buying back our own stock if the after-tax yield on free cash flow climbs over 10%;

	●	We consider disposing of underperforming units to free up capital for more productive use;

	●	We consider acquiring or developing our own clubs or restaurants that we believe have the potential to provide a minimum cash on cash return of 25%-33%, absent an otherwise strategic rationale;

	●	We consider paying down our most expensive debt if it makes sense on a tax adjusted basis, or there is an otherwise strategic rationale.

Growth Strategy

We believe that our nightclub operations can continue to grow organically and through careful entry into markets and demographic segments with high growth potential. Our growth strategy involves the following: (i) to acquire existing units in locations that are consistent with our growth and income targets and which appear receptive to the upscale club formula we have developed; (ii) to open new units after market analysis; (iii) to franchise our Bombshells brand; (iv) to form joint ventures or partnerships to reduce start-up and operating costs, with us contributing equity in the form of our brand name and management expertise; (v) to develop new club concepts that are consistent with our management and marketing skills; (vi) to develop and open our restaurant concepts as our capital and manpower allow; and (vii) to control the real estate in connection with club operations, although some units may be in leased premises.

We believe that Bombshells can grow organically and through careful entry into markets and demographic segments with high growth potential. All seven of the currently existing Bombshells are located in Texas. Our growth strategy is to diversify our operations with these units which do not require SOB licenses, which are sometimes difficult to obtain. While we are searching for adult nightclubs to acquire, we are able to also search for restaurant/sports bar locations that are consistent with our income targets.

We plan to open four Bombshells in fiscal 2019, including one that opened in December 2018.

We continue to evaluate opportunities to acquire new nightclubs and anticipate acquiring new locations that fit our business model as we have done in the past. The acquisition of additional clubs may require us to take on additional debt or issue our common stock, or both. There can be no assurance that we will be able to obtain additional financing on reasonable terms in the future, if at all, should the need arise. An inability to obtain such additional financing could have an adverse effect on our growth strategy.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

As of December 31, 2018, there were no material changes to the information provided in Item 7A of the Company’s Annual Report on Form 10-K for fiscal year ended September 30, 2018.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

The Company maintains disclosure controls and procedures, defined in Rule 13a-15(e) under the Exchange Act, that are designed to ensure that the information required to be filed or submitted with the SEC under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management of the company with the participation of its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

In connection with the preparation of this Quarterly Report on Form 10-Q for the quarter ended December 31, 2018, an evaluation was performed under the supervision and with the participation of management, including the chief executive officer and chief financial officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures. Based on their evaluation, they have concluded that our disclosure controls and procedures were not effective as of December 31, 2018. This determination is based on the previously reported material weaknesses management previously identified in our internal control over financial reporting, as described below. We are in the process of remediating the material weaknesses, as described below, which should remedy our disclosure controls and procedures. We will continue to monitor this issue.

Previously Reported Material Weaknesses in Internal Control Over Financial Reporting

In our Annual Report for the year ended September 30, 2018, filed with the SEC on December 31, 2018, management concluded that our internal control over financial reporting was not effective as of September 30, 2018. In management’s evaluation, the following deficiencies were identified as material weaknesses:

●

Control Environment

The control environment, which is the responsibility of senior management, helps set the tone of the organization, influences the control consciousness of its officers and employees, and is an important component affecting how the organization performs financial analysis, accounting and financial reporting. A proper organizational tone can be promoted through a variety of means, such as well documented and communicated policies, a commitment to hiring competent employees, the manner and content of oral and written communications, strong internal controls and effective governance.

●

Control Environment, Risk Assessment and Monitoring

We did not properly design or maintain effective controls over the control environment, risk assessment, and monitoring components which contributed to a number of material weaknesses at the control activity level. As it relates to the control environment and risk assessment, we did not have a sufficient complement of accounting, financial, and information technology personnel with an appropriate level of knowledge to assess internal control risks, address known internal control weaknesses, and address the Company’s overall financial reporting and information technology requirements. As it relates to monitoring, we did not perform timely and ongoing evaluations to ascertain whether the components of internal control are present and functioning. The failures within these three COSO components contributed to the following material weaknesses at the control activity level:

●

Control Activities

●

Revenues – We did not properly design or maintain effective controls over the segregation of cash counts at our nightclubs and restaurants, the information produced by our point-of-sale systems, other revenues generated outside the point-of-sale system, and the review of journal entries used to record revenue transactions.

●

Complex Accounting and Management Estimates – We did not properly design or maintain effective controls over complex accounting and management estimates related to the impairment analyses for indefinite lived intangible assets, goodwill, and property and equipment, and the accounting for income taxes, assets held for sale, business combinations, debt modifications, and useful lives of leasehold improvements, which resulted in certain instances of incorrect accounting and improper valuation decisions.

	●	Financial Statement Close and Reporting – We did not properly design or maintain effective controls, in aggregate, over the period end financial close and reporting process to enable timely reporting of complete and accurate financial information. Specifically, we lacked controls to define financial statement review thresholds, consistently perform independent reviews of journal entries prior to posting, and consistently prepare, approve, and retain adequate supporting documentation for financial statement balances and the related footnote disclosures.
	●	Information Technology – We did not properly design or maintain effective controls to prevent unauthorized access to certain systems, programs and data, and provide for periodic review and monitoring of access and changes in programs, including review of security logs and analysis of segregation of duties conflicts.
	●	Segregation of Duties – We did not maintain effective policies, procedures, or controls in aggregate to ensure adequate segregation of duties within the Company’s business processes, financial applications, and IT systems. Specifically, we did not have appropriate controls in place to adequately assess the segregation of job responsibilities and system user access for initiating, authorizing, and recording transactions.

Remediation Efforts to Address Material Weaknesses

As disclosed in our most recent Annual Report on Form 10-K, we have, and continue to, identify and implement actions to improve our internal control over financial reporting and disclosure controls and procedures including actions to enhance our resources and training with respect to financial reporting and disclosure responsibilities, and increase utilization of accounting system functionality, with continued oversight from the Audit Committee.

We have taken, and continue to take, the actions described below to remediate the identified material weaknesses. As we continue to evaluate and work to improve our internal controls over financial reporting, our senior management may determine to take additional measures to address control deficiencies or determine to modify the remediation efforts described in this section. While the Audit Committee and senior management are closely monitoring the implementation, until the remediation efforts discussed in this section, including any additional remediation efforts that our senior management identifies as necessary, are completed, tested and determined effective, the material weaknesses described above will continue to exist.

Control Environment, Risk Assessment and Monitoring

Our Board of Directors has directed senior management to ensure that a proper, consistent tone is communicated throughout the organization, which emphasizes the expectation that previously existing deficiencies will be rectified through implementation of processes and controls to ensure strict compliance with U.S. GAAP and regulatory requirements. We also have taken steps to effect a proper tone through our policies and personnel. To effect this, we have hired an external consulting firm to effectively act as an internal audit department to assist in the organizational risk assessment, identification of control activities, and the enhancement of ongoing monitoring activities related to such controls.

Control Activities

Strengthening the controls and processes regarding the recording and reporting of revenue – Currently, one of our point-of-sale (“POS”) system providers does not issue an SOC 1 report. An SOC 1 Report (System and Organization Controls Report) is a report on Controls at a Service Organization which are relevant to user entities’ internal control over financial reporting. As a result of the non-issuance of this report by the provider, it is necessary for us to use alternative procedures to gain the required level of confidence regarding the reliability of this system to accurately report sale information. In the case of credit card sales, data is effectively processed using other third-party providers with whom we have a higher degree of confidence. We will work to implement stronger controls regarding the verification of data from the POS provider if no service provider internal controls adequacy report can be obtained. In the case of cash sales, we would seek to point to compensating detective controls, such as nightly cash counts and monthly detailed revenue reconciliations to potentially detect any irregularities. Such controls will be evaluated for proper segregation of duties both in the nightly cash counts and in the related journal entries to remediate controls over both point-of-sale and other revenues. We would seek to strengthen these controls in the future to provide the required level of confidence necessary to prevent a material weakness.

Strengthening internal controls over complex accounting and management estimates and financial statement preparation – Subsequent to September 30, 2018, we have committed to resolve the controls over complex accounting and estimates and prevent instances of incorrect accounting, incorrect financial statement preparation and improper valuation decisions, by increasing our own level of competency as well as using third-party consultants to assist where necessary such as with our goodwill, indefinite-lived intangible assets, and property and equipment impairment analyses whenever necessary and also using appropriate third-party resources to help with the analysis and accounting for assets held for sale, business combinations, income taxes, debt modifications, assessment of useful lives of leasehold improvements, and other complex accounting matters.

Strengthening internal controls over financial statement close and reporting – With the oversight of our Audit Committee, we have continued to take proactive steps and implement additional measures to remediate the underlying causes of the material weaknesses. We are taking significant steps to improve our risk assessment process and monitoring structure, as follows:

	●	The new ERP system described below has and will continue to assist us in strengthening the controls over financial reporting, and we have also added an overlay of review of our financial statements during our financial reporting process.

	●	On top of the ERP system described above, we have also implemented, in April 2018, a new monitoring and security software to automate our segregation of duties as well as access monitoring controls and generate compliance documentation. The effective implementation of this software remains in process as we evaluate both manual and automated controls impacted by segregation of duties.

	●	We have upgraded our accounting staff with certain newly hired accountants.

	●	We have retained a more robust outside consulting firm to assist us in evaluating, redesigning and implementing necessary steps to maintain adequate internal controls. As this work did not begin until May 2018, we expect to have a much improved control structure with their assistance for an entire fiscal year in 2019.

	●	We will develop proper controls to evaluate monthly and quarterly financial statement variances.

	●	We will develop proper controls over the review and evaluation of financial statement balances and the related footnote disclosures.

	●	We will consider certain enhanced journal review procedures which will ensure that proper review can be executed and evidenced.

Strengthening the information technology application – We were previously aware of the limitations of our accounting software and had been in the planning/implementation process of replacing the software for many months prior to September 30, 2017. In October 2017, we completed the conversion to a new Enterprise Resource Planning (“ERP”) system which, along with changes to our manual internal controls, we believe has resolved some of the issues detailed above relating to the information systems. The new ERP system has features that prevent unauthorized access to certain programs and data, and also provides for periodic review and monitoring of access including review of security logs. In addition to the ERP system, we are taking steps to improve monitoring of access to point-of-sale systems at remote locations, as well as review of change management protocols.

Strengthening our segregation of duties issues – The features mentioned above include proper segregation of duties within our journal entry process, including analysis of segregation of duties conflicts, which we hope to more fully utilize in fiscal year 2019. We have also hired a Director of ERP & Business Intelligence. In addition to the segregation of duties improvements, there will be continuing improvements in the controls that would mitigate any potential conflicts, most importantly regarding the length of time the controls have been operating effectively.

Changes in Internal Control Over Financial Reporting

Other than as described above, no changes in the Company’s internal control over financial reporting that occurred during the quarter ended December 31, 2018 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II—OTHER INFORMATION

Item 1. Legal Proceedings.

See the “Legal Matters” section within Note 9 of the condensed consolidated financial statements within this Quarterly Report on Form 10-Q, which information is incorporated herein by reference.

Item 1A. Risk Factors.

There were no material changes to the risk factors disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2018. The risks described in the Annual Report on Form 10-K are not the only risks the Company faces. Additional risks and uncertainties not currently known to the Company, or that the Company deems to be immaterial, also may have a material adverse impact on the Company’s business, financial condition or results of operations.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

In September 2008, our Board of Directors authorized us to repurchase up to $5.0 million worth of our common stock in the open market or in privately negotiated transactions. As of April 2013, we completed the repurchase of all $5.0 million in stock authorized under this plan. In April 2013, our Board of Directors authorized us to repurchase up to an additional $3.0 million worth of our common stock, and in May 2014, our Board of Directors increased the repurchase authorization by another $7.0 million. In May 2016, the Board of Directors increased the repurchase authorization by an additional $5.0 million. During the quarter ended December 31, 2018, we purchased 14,111 shares of our common stock in the open market at prices ranging from $24.85 to $25.15 per share. As of December 31, 2018, we have $2.8 million remaining to purchase additional shares. In January 2019, the Board of Directors increased the repurchase authorization by an additional $10.0 million.

Following is a summary of our purchases during the quarter ended December 31, 2018:

Period	Total Number of Shares (or Units) Purchased		Average Price Paid per Share (or Unit)(2)		Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs(1)		Maximum Number (or Approximate Dollar Value) of Shares (or Units) That May Yet be Purchased Under the Plans or Programs
October 1-31, 2018		-				-	$	3,141,101
November 1-30, 2018		14,111	$	25.21		14,111	$	2,785,378
December 1-31, 2018		-				-	$	2,785,378
Total		14,111	$	25.21		14,111

	(1)	All shares were purchased pursuant to the repurchase plans approved by the Board of Directors, as described above.

	(2)	Prices include any commissions and transaction costs.

Item 6. Exhibits.

Exhibit No.		Description
3.1		Articles of Incorporation dated December 9, 1994. (Incorporated by reference from Form SB-2 filed with the SEC on January 11, 1995.) *

3.2		Certificate of Amendment to Articles of Incorporation dated September 9, 2008. (Incorporated by reference from Definitive Schedule 14A filed with the SEC on July 21, 2008.) *

3.3		Certificate of Amendment to Articles of Incorporation dated August 6, 2014. (Incorporated by reference from Definitive Schedule 14A filed with the SEC on June 24, 2014.) *

3.4		Amended and Restated Bylaws. (Incorporated by reference from Form 8-K filed with the SEC on March 16, 2016.) *

4.1		Consolidated, Amended and Restated Promissory Note for $62,539,366.08 with Centennial Bank (Incorporated by reference from Form 8-K filed with the SEC on December 19, 2017) *

4.2		Amended and Restated Promissory Note for $10,558,311.35 with Centennial Bank (Incorporated by reference from Form 8-K filed with the SEC on December 19, 2017) *

4.3		Amended and Restated Promissory Note for $8,147,572.57 with Centennial Bank (Incorporated by reference from Form 8-K filed with the SEC on December 19, 2017) *

10.1		Employment Agreement with Eric S. Langan. (Incorporated by reference from Form 8-K filed with the SEC on May 4, 2018.) *

10.2		Employment Agreement with Travis Reese. (Incorporated by reference from Form 8-K filed with the SEC on May 4, 2018.) *

10.3		Employment Agreement with Phillip K. Marshall. (Incorporated by reference from Form 8-K filed with the SEC on May 4, 2018.) *

10.4		Loan Agreement between RCI Holdings, Inc. and Centennial Bank (Incorporated by reference from Form 8-K filed with the SEC on December 19, 2017) *

10.5		Absolute Unconditional and Continuing Guaranty of RCI Hospitality Holdings, Inc. to Centennial Bank (Incorporated by reference from Form 8-K filed with the SEC on December 19, 2017) *

10.6		Absolute Unconditional and Continuing Guaranty of Eric S. Langan to Centennial Bank (Incorporated by reference from Form 8-K filed with the SEC on December 19, 2017) *

31.1		Certification of Chief Executive Officer of RCI Hospitality Holdings, Inc. required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Certification of Chief Financial Officer of RCI Hospitality Holdings, Inc. required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32		Certification of Chief Executive Officer and Chief Financial Officer of RCI Hospitality Holdings, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 of 18 U.S.C. 63.

101.INS		XBRL Instance Document.
101.SCH		XBRL Taxonomy Extension Schema Document.
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document.

* Incorporated by reference from our previous filings with the SEC.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	RCI HOSPITALITY HOLDINGS, INC.

Date: February 11, 2019	By:	/s/ Eric S. Langan
		Eric S. Langan
		Chief Executive Officer and President

Date: February 11, 2019	By:	/s/ Phillip K. Marshall
		Phillip K. Marshall
		Chief Financial Officer and Principal Accounting Officer

EX-31.1 2 ex31-1.htm

EXHIBIT 31.1

CERTIFICATION PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

	I, Eric S. Langan, Chief Executive Officer and President of RCI Hospitality Holdings, Inc., certify that:

1.	I have reviewed this quarterly report on Form 10-Q of RCI Hospitality Holdings, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this report;

4.	The issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the issuer and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the issuer’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the issuer’s internal control over financial reporting that occurred during the issuer’s most recent fiscal year that has materially affected, or is reasonably likely to materially affect, the issuer’s internal control over financial reporting; and

The issuer’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the issuer’s independent registered public accounting firm and the audit committee of the issuer’s board of directors (or persons performing the equivalent functions):

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the issuer’s ability to record, process, summarize and report financial information; and

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the issuer’s internal control over financial reporting.

Date: February 11, 2019	By:	/s/ Eric S. Langan
		Eric S. Langan
		Chief Executive Officer and President

EX-31.2 3 ex31-2.htm

EXHIBIT 31.2

CERTIFICATION PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

	I, Phillip K. Marshall, Chief Financial Officer of RCI Hospitality Holdings, Inc., certify that:

1.	I have reviewed this quarterly report on Form 10-Q of RCI Hospitality Holdings, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this report;

4.	The issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the issuer and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the issuer’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the issuer’s internal control over financial reporting that occurred during the issuer’s most recent fiscal year that has materially affected, or is reasonably likely to materially affect, the issuer’s internal control over financial reporting; and

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the issuer’s ability to record, process, summarize and report financial information; and

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the issuer’s internal control over financial reporting.

Date: February 11, 2019	By:	/s/ Phillip K. Marshall
		Phillip K. Marshall
		Chief Financial Officer and Principal Accounting Officer

EX-32 4 ex32.htm

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of RCI Hospitality Holdings, Inc. (the “Company”) on Form 10-Q for the fiscal period ended December 31, 2018 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), we, the Chief Executive Officer and the Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that based on our knowledge, that:

(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company as of and for the periods covered in the Report.

/s/ Eric S. Langan
Eric S. Langan
Chief Executive Officer
February 11, 2019

/s/ Phillip K. Marshall
Phillip K. Marshall
Chief Financial Officer
February 11, 2019

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to RCI Hospitality Holdings, Inc. and will be retained by RCI Hospitality Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished to the Securities and Exchange Commission as an exhibit to the Form 10-Q and shall not be considered filed as part of the Form 10-Q.

EX-101.INS 5 rick-20181231.xml XBRL INSTANCE FILE 0000935419 2018-12-31 0000935419 RICK:JAIPhoenixMember RICK:CompensatoryDamagesMember 2017-04-01 2017-04-30 0000935419 RICK:JAIPhoenixMember RICK:PunitiveDamagesMember 2017-04-01 2017-04-30 0000935419 2019-02-01 0000935419 2018-10-01 2018-12-31 0000935419 2018-09-30 0000935419 RICK:IndemnityInsuranceCorporationMember 2018-10-01 2018-12-31 0000935419 RICK:NightclubsMember 2018-09-30 0000935419 RICK:BombshellsMember 2018-09-30 0000935419 RICK:OtherMember 2018-09-30 0000935419 RICK:GeneralCorporateMember 2018-09-30 0000935419 2018-07-01 2018-09-30 0000935419 RICK:NightclubsMember 2017-10-01 2017-12-31 0000935419 RICK:BombshellsMember 2017-10-01 2017-12-31 0000935419 RICK:NightclubsMember 2018-10-01 2018-12-31 0000935419 RICK:BombshellsMember 2018-10-01 2018-12-31 0000935419 us-gaap:FoodAndBeverageMember 2018-10-01 2018-12-31 0000935419 us-gaap:FoodAndBeverageMember 2017-10-01 2017-12-31 0000935419 us-gaap:ServiceMember 2018-10-01 2018-12-31 0000935419 us-gaap:ServiceMember 2017-10-01 2017-12-31 0000935419 RICK:SalesofAlcoholicBeveragesMember 2018-10-01 2018-12-31 0000935419 RICK:SalesofAlcoholicBeveragesMember 2017-10-01 2017-12-31 0000935419 RICK:OtherMember 2018-10-01 2018-12-31 0000935419 RICK:OtherMember 2017-10-01 2017-12-31 0000935419 RICK:ServiceandOtherMember 2017-10-01 2017-12-31 0000935419 RICK:ServiceandOtherMember 2018-10-01 2018-12-31 0000935419 2015-10-01 2015-12-31 0000935419 2015-04-01 2015-06-30 0000935419 2017-10-01 2017-12-31 0000935419 2017-12-31 0000935419 RICK:TwelvePecentageUnsecuredPromissoryNotesMember 2018-11-01 0000935419 RICK:TwelvePecentageUnsecuredPromissoryNotesMember 2018-10-30 2018-11-01 0000935419 RICK:NoteOneMember 2018-11-01 0000935419 RICK:NoteTwoMember 2018-11-01 0000935419 2018-11-01 0000935419 RICK:ScarlettsAcquisitionMember 2018-12-06 0000935419 RICK:ScarlettsAcquisitionMember 2018-12-05 2018-12-06 0000935419 RICK:SeptemberThirtyTwoThousandAndNineteenMember 2018-10-01 2018-12-31 0000935419 2015-06-30 0000935419 RICK:SettlementAgreementMember 2017-03-01 2017-03-31 0000935419 RICK:DeclaratoryJudgmentActionMember 2018-12-31 0000935419 2017-09-30 0000935419 RICK:OtherMember 2018-10-01 2018-12-31 0000935419 RICK:OtherMember 2017-10-01 2017-12-31 0000935419 RICK:NightclubsMember RICK:SalesofAlcoholicBeveragesMember 2018-10-01 2018-12-31 0000935419 RICK:NightclubsMember us-gaap:FoodAndBeverageMember 2018-10-01 2018-12-31 0000935419 RICK:NightclubsMember us-gaap:ServiceMember 2018-10-01 2018-12-31 0000935419 RICK:NightclubsMember RICK:OtherRevenuesMember 2018-10-01 2018-12-31 0000935419 RICK:BombshellsMember RICK:SalesofAlcoholicBeveragesMember 2018-10-01 2018-12-31 0000935419 RICK:BombshellsMember us-gaap:FoodAndBeverageMember 2018-10-01 2018-12-31 0000935419 RICK:BombshellsMember us-gaap:ServiceMember 2018-10-01 2018-12-31 0000935419 RICK:BombshellsMember RICK:OtherRevenuesMember 2018-10-01 2018-12-31 0000935419 RICK:OtherMember RICK:SalesofAlcoholicBeveragesMember 2018-10-01 2018-12-31 0000935419 RICK:OtherMember us-gaap:FoodAndBeverageMember 2018-10-01 2018-12-31 0000935419 RICK:OtherMember us-gaap:ServiceMember 2018-10-01 2018-12-31 0000935419 RICK:OtherMember RICK:OtherRevenuesMember 2018-10-01 2018-12-31 0000935419 RICK:NightclubsMember us-gaap:TransferredAtPointInTimeMember 2018-10-01 2018-12-31 0000935419 RICK:NightclubsMember us-gaap:TransferredOverTimeMember 2018-10-01 2018-12-31 0000935419 RICK:BombshellsMember us-gaap:TransferredAtPointInTimeMember 2018-10-01 2018-12-31 0000935419 RICK:BombshellsMember us-gaap:TransferredOverTimeMember 2018-10-01 2018-12-31 0000935419 RICK:OtherMember us-gaap:TransferredAtPointInTimeMember 2018-10-01 2018-12-31 0000935419 RICK:OtherMember us-gaap:TransferredOverTimeMember 2018-10-01 2018-12-31 0000935419 RICK:NightclubsMember RICK:SalesofAlcoholicBeveragesMember 2017-10-01 2017-12-31 0000935419 RICK:NightclubsMember us-gaap:FoodAndBeverageMember 2017-10-01 2017-12-31 0000935419 RICK:NightclubsMember us-gaap:ServiceMember 2017-10-01 2017-12-31 0000935419 RICK:NightclubsMember RICK:OtherRevenuesMember 2017-10-01 2017-12-31 0000935419 RICK:BombshellsMember RICK:SalesofAlcoholicBeveragesMember 2017-10-01 2017-12-31 0000935419 RICK:BombshellsMember us-gaap:FoodAndBeverageMember 2017-10-01 2017-12-31 0000935419 RICK:BombshellsMember us-gaap:ServiceMember 2017-10-01 2017-12-31 0000935419 RICK:BombshellsMember RICK:OtherRevenuesMember 2017-10-01 2017-12-31 0000935419 RICK:OtherMember RICK:SalesofAlcoholicBeveragesMember 2017-10-01 2017-12-31 0000935419 RICK:OtherMember us-gaap:FoodAndBeverageMember 2017-10-01 2017-12-31 0000935419 RICK:OtherMember us-gaap:ServiceMember 2017-10-01 2017-12-31 0000935419 RICK:OtherMember RICK:OtherRevenuesMember 2017-10-01 2017-12-31 0000935419 RICK:NightclubsMember us-gaap:TransferredAtPointInTimeMember 2017-10-01 2017-12-31 0000935419 RICK:NightclubsMember us-gaap:TransferredOverTimeMember 2017-10-01 2017-12-31 0000935419 RICK:BombshellsMember us-gaap:TransferredAtPointInTimeMember 2017-10-01 2017-12-31 0000935419 RICK:BombshellsMember us-gaap:TransferredOverTimeMember 2017-10-01 2017-12-31 0000935419 RICK:OtherMember us-gaap:TransferredAtPointInTimeMember 2017-10-01 2017-12-31 0000935419 RICK:OtherMember us-gaap:TransferredOverTimeMember 2017-10-01 2017-12-31 0000935419 RICK:AdRevenueMember 2018-10-01 2018-12-31 0000935419 RICK:ExpoRevenueMember 2018-10-01 2018-12-31 0000935419 RICK:AdRevenueMember 2018-09-30 0000935419 RICK:AdRevenueMember 2018-12-31 0000935419 RICK:ExpoRevenueMember 2018-09-30 0000935419 RICK:ExpoRevenueMember 2018-12-31 0000935419 RICK:OtherMember 2018-09-30 0000935419 RICK:OtherMember 2018-12-31 0000935419 RICK:JanuaryTwoTwoThousandAndNineteenMember 2018-10-01 2018-12-31 0000935419 RICK:TaxCutsAndJobsActTaxActMember 2018-10-01 2018-12-31 0000935419 RICK:TaxCutsAndJobsActTaxActMember 2017-10-01 2017-12-31 0000935419 RICK:FullYearAdjustmentMember 2018-09-30 0000935419 RICK:FullYearAdjustmentMember 2017-09-29 2017-09-30 0000935419 2015-12-31 0000935419 RICK:GeneralCorporateMember 2018-10-01 2018-12-31 0000935419 RICK:GeneralCorporateMember 2017-10-01 2017-12-31 0000935419 RICK:NightclubsMember 2018-12-31 0000935419 RICK:BombshellsMember 2018-12-31 0000935419 RICK:OtherMember 2018-12-31 0000935419 RICK:GeneralCorporateMember 2018-12-31 0000935419 RICK:NightClubMember 2018-12-31 0000935419 2018-10-30 2018-11-01 0000935419 2018-10-31 0000935419 2018-10-01 2018-10-31 0000935419 2018-10-28 2018-11-01 0000935419 RICK:SixYearSellerFinancedNoteMember 2018-10-28 2018-11-01 0000935419 RICK:PittsburghClubMember 2018-11-04 2018-11-05 0000935419 RICK:PittsburghClubMember RICK:TwoYearSellerFinancedNoteMember 2018-11-05 0000935419 RICK:TwoYearSellerFinancedNoteMember RICK:PittsburghClubMember 2018-11-04 2018-11-05 0000935419 RICK:SixYearSellerFinancedNoteMember 2018-11-01 0000935419 RICK:TenYearSellerFinancedNoteMember RICK:PittsburghClubMember 2018-11-04 2018-11-05 0000935419 RICK:TenYearSellerFinancedNoteMember RICK:PittsburghClubMember 2018-11-05 0000935419 RICK:RobustEnergyLLCMember 2018-12-31 0000935419 RICK:RobustEnergyLLCMember 2018-10-01 2018-12-31 0000935419 RICK:FirstThirtyFiveMonthsMember 2018-12-31 0000935419 RICK:FirstThirtyFiveMonthsMember 2018-10-01 2018-12-31 0000935419 2017-10-01 2018-09-30 0000935419 2018-12-10 2018-12-11 0000935419 2018-12-11 0000935419 RICK:FivePointFourNinePercentagePromissoryNoteMember 2018-12-10 2018-12-11 0000935419 RICK:FivePointFourNinePercentagePromissoryNoteMember 2018-12-11 0000935419 RICK:ChicagoClubMember 2018-10-01 2018-12-31 0000935419 RICK:PittsburghClubMember 2018-10-01 2018-12-31 0000935419 RICK:ChicagoClubMember 2018-12-31 0000935419 RICK:PittsburghClubMember 2018-12-31 0000935419 srt:ScenarioPreviouslyReportedMember 2017-10-01 2018-09-30 0000935419 srt:RestatementAdjustmentMember 2017-10-01 2018-09-30 0000935419 srt:ScenarioPreviouslyReportedMember 2018-09-30 0000935419 srt:RestatementAdjustmentMember 2018-09-30 0000935419 srt:ScenarioPreviouslyReportedMember 2018-07-01 2018-09-30 0000935419 srt:RestatementAdjustmentMember 2018-07-01 2018-09-30 0000935419 us-gaap:AccountingStandardsUpdate201601Member 2018-10-01 2018-12-31 0000935419 us-gaap:AccountingStandardsUpdate201601Member 2018-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure RICK:Integer

1811000

-8227000

349522000

329732000

252335000

39560000

1978000

35859000

269313000

43540000

2144000

34525000

330566000

-834000

0.10

1000000

0.01

20000000

9705000

9719000

9705000

9719000

159090000

153332000

154166000

-834000

54731000

43591000

1463000

9677000

44425000

-834000

187502000

172403000

2356000

2902000

1400000

9713000

9719000

9713000

9719000

0.65

-0.36

1.47

2.15

2.23

-0.08

-0.27

-0.09

0.65

-0.36

1.47

2.15

2.23

-0.08

-0.27

-0.09

6344000

-3506000

14311000

20879000

21713000

-834000

-2672000

-834000

6404000

14355000

20960000

21794000

-834000

11132000

699000

13371000

891000

15387000

119000

9140000

-119000

-137000

-4255000

-4985000

27562000

28396000

-834000

1533000

-834000

2053000

1335000

336000

1507000

292000

1909000

104000

2000

150000

236000

0.12

0.07

0.08

0.0549

1400000

4000000

2181000

2166000

2148000

1965000

1353000

1259000

1058000

377000

933000 887000 709000 638000

650000

886000

587000

570000

1189000

1061000

159133000

153435000

154269000

-834000

349522000

329732000

330566000

-834000

32891000

32072000

138186000

137352000

834000

8215000

6128000

17842000

18676000

-834000

190432000

176400000

21473000

19552000

29195000

33845000

11940000

11973000

25067000

36802000

5583000

7320000

2578000

2353000

3603000

4910000

1560000

1591000

3467000

2874000

77289000

71532000

1466000

2530000

2357000

2825000

14898000

19047000

138197000

121580000

1567000

1423000

97000

-43000

-103000

12096000

11377000

14027000

12812000

51000

67000

RCI HOSPITALITY HOLDINGS, INC. 0000935419 10-Q 2018-12-31 false --09-30 Accelerated Filer Q1

0.03

5. Selected Account Information   The components of accrued liabilities are as follows (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Insurance</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">2,627</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">3,807</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Payroll and related costs</td> <td> </td> <td> </td> <td style="text-align: right">2,584</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">2,293</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Property taxes</td> <td> </td> <td> </td> <td style="text-align: right">2,058</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,796</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Sales and liquor taxes</td> <td> </td> <td> </td> <td style="text-align: right">1,959</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,883</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Patron tax</td> <td> </td> <td> </td> <td style="text-align: right">640</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">532</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Unearned revenues</td> <td> </td> <td> </td> <td style="text-align: right">429</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">134</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">Other</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1,643</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1,528</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">11,940</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">11,973</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>   The components of selling, general and administrative expenses are as follows (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td> </td> <td colspan="6" style="text-align: center">For the Three Months</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center">Ended December 31,</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Taxes and permits</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">2,181</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">2,166</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Advertising and marketing</td> <td> </td> <td> </td> <td style="text-align: right">2,148</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,965</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Supplies and services</td> <td> </td> <td> </td> <td style="text-align: right">1,456</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,368</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Insurance</td> <td> </td> <td> </td> <td style="text-align: right">1,353</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,259</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Legal</td> <td> </td> <td> </td> <td style="text-align: right">1,058</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">377</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Rent</td> <td> </td> <td> </td> <td style="text-align: right">1,019</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">940</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Charge card fees</td> <td> </td> <td> </td> <td style="text-align: right">933</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">887</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Utilities</td> <td> </td> <td> </td> <td style="text-align: right">744</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">695</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Security</td> <td> </td> <td> </td> <td style="text-align: right">709</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">638</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Accounting and professional fees</td> <td> </td> <td> </td> <td style="text-align: right">650</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">886</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Repairs and maintenance</td> <td> </td> <td> </td> <td style="text-align: right">587</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">570</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt">Other</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1,189</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1,061</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">14,027</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">12,812</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

6. Long-Term Debt   On November 1, 2018, the Company raised $2.35 million through the issuance of 12% unsecured promissory notes to certain investors, which notes mature on November 1, 2021. The notes pay interest-only in equal monthly installments, with a lump sum principal payment at maturity. Among the promissory notes are two notes with a principal of $450,000 and $200,000. The $450,000 note was in exchange for a $300,000 12% note and the $200,000 note was in exchange for a $100,000 note, both of which were included in the May 1, 2017 financing to acquire Scarlett’s Cabaret in Miami. Also included in the $2.35 million borrowing is a $500,000 note borrowed from a related party (see Note 13).   On December 6, 2018, the Company amended the $5.0 million short-term note payable related to the Scarlett’s acquisition, which had a remaining balance of $3.0 million as of December 6, 2018, extending the maturity date from May 8, 2019, as previously amended, to May 8, 2020.   On December 11, 2018, the Company purchased an aircraft for $2.8 million with a $554,000 down payment and financed the remaining $2.2 million with a 5.49% promissory note payable in 20 years with monthly payments of $15,118, including interest.   As of December 31, 2018, the Company is in compliance with all its debt covenants.

9. Income Taxes   Income taxes were an expense of $1.8 million in the first quarter of 2019 compared to a benefit of $8.2 million in the first quarter of 2018. The effective income tax rate for the first quarter of 2019 was an expense of 22.0% compared to a benefit of 134.3% for the first quarter of 2018. Our effective tax rate is affected by state taxes, permanent differences, and tax credits, including the FICA tip credit, for both years while the first quarter of 2018 was significantly impacted by a $9.7 million reduction of our deferred tax liability caused by newly enacted tax laws.   The Tax Cuts and Jobs Act (“Tax Act”) was enacted on December 22, 2017, and includes, among other items, a reduction in the federal corporate income tax rate from 35% to 21% effective January 1, 2018. Our federal corporate income tax rate for fiscal 2018 was 24.5% percent and represents a blended income tax rate for our fiscal year ended September 30, 2018. For fiscal 2019, our federal corporate income tax rate will be 21%.   Additionally, for the fiscal year ended September 30, 2018, in accordance with FASB ASC Topic 740, we remeasured our deferred tax balances to reflect the reduced rate that will apply when these deferred taxes are settled or realized in future periods. The remeasurement resulted in a $8.7 million full year adjustment of our net deferred tax liabilities reflected in our consolidated balance sheet as of September 30, 2018 and a corresponding income tax benefit reflected in our consolidated statements of earnings for the fiscal year ended September 30, 2018. The SEC staff issued Staff Accounting Bulletin No. 118 which allows companies to record provisional amounts during a measurement period that is similar to the measurement period used when accounting for business combinations. While we are able to make a reasonable estimate of the impacts of the Tax Act, adjustments may occur and may be affected by other factors, including, but not limited to, further refinement of our calculations, changes in interpretations and assumptions and regulatory changes from the Internal Revenue Service, the SEC, the FASB, and various tax jurisdictions.   Under generally accepted accounting principles, the Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. At September 30, 2017, the Company’s deferred tax assets and liabilities were determined based on the then-current enacted federal tax rate of 35%. As a result of the reduction in the corporate income tax rate under the Tax Act, the Company revalued its deferred tax assets and liabilities at December 31, 2017. Deferred tax assets and liabilities expected to be realized in fiscal year 2018 were re-measured using the aforementioned blended rate. All remaining deferred tax assets and liabilities were re-measured using the new statutory federal rate of 21%. There were no additional measurement adjustments since September 30, 2018 until the end of the measurement period on December 22. 2018.   The Company or one of its subsidiaries files income tax returns for U.S. federal jurisdiction and various states. Fiscal year ended September 30, 2016 remains open to tax examination. The Company’s federal income tax returns for the years ended September 30, 2015, 2014 and 2013 have been examined by the Internal Revenue Service with no changes. These years are now under examination for payroll taxes. The Company is also being examined for state income taxes, the settlement of which may occur within the next twelve months.   The Company accounts for uncertain tax positions pursuant to ASC Topic 740, Income Taxes. As of December 31, 2018 and September 30, 2018, the liability for uncertain tax positions totaled approximately $165,000 as of each date, which is included in current liabilities on our condensed consolidated balance sheets. The Company recognizes interest accrued related to uncertain tax positions in interest expense and penalties in selling, general and administrative expenses in our consolidated statements of income.

10. Commitments and Contingencies   Legal Matters   Texas Patron Tax   In 2015, the Company reached a settlement with the State of Texas over the payment of the state’s Patron Tax on adult club customers. To resolve the issue of taxes owed, the Company agreed to pay $10.0 million in equal monthly installments of $119,000, without interest, over 84 months, beginning in June 2015, for all but two non-settled locations. The Company agreed to remit the Patron Tax on a monthly basis, based on the current rate of $5 per customer. For accounting purposes, the Company has discounted the $10.0 million at an imputed interest rate of 9.6%, establishing a net present value for the settlement of $7.2 million. As a consequence, the Company has recorded an $8.2 million pre-tax gain for the third quarter ending June 30, 2015, representing the difference between the $7.2 million and the amount previously accrued for the tax.   In March 2017, the Company settled with the State of Texas for one of the two remaining unsettled Patron Tax locations. To resolve the issue of taxes owed, the Company agreed to pay a total of $687,815 with $195,815 paid at the time the settlement agreement was executed followed by 60 equal monthly installments of $8,200 without interest.   The aggregate balance of Patron Tax settlement liability, which is included in long-term debt in the consolidated balance sheets, amounted to $4.2 million and $4.5 million as of December 31, 2018 and September 30, 2018, respectively.   A Declaratory judgment action was brought by five operating subsidiaries of the Company to challenge a Texas Comptroller administrative rule related to the $5 per customer Patron Tax Fee assessed against Sexually Oriented Businesses. An administrative rule attempted to expand the fee to cover venues featuring dancers using latex cover as well as traditional nude entertainment. The administrative rule was challenged on both constitutional and statutory grounds. On November 19, 2018, the Court issued an order that a key aspect of the administrative rule is invalid based on it exceeding the scope of the Comptroller’s authority. Constitutional challenges remain and will be resolved at trial.   Indemnity Insurance Corporation   As previously reported, the Company and its subsidiaries were insured under a liability policy issued by Indemnity Insurance Corporation, RRG (“IIC”) through October 25, 2013. The Company and its subsidiaries changed insurance companies on that date.   On November 7, 2013, the Court of Chancery of the State of Delaware entered a Rehabilitation and Injunction Order (“Rehabilitation Order”), which declared IIC impaired, insolvent and in an unsafe condition and placed IIC under the supervision of the Insurance Commissioner of the State of Delaware (“Commissioner”) in her capacity as receiver (“Receiver”). The Rehabilitation Order empowered the Commissioner to rehabilitate IIC through a variety of means, including gathering assets and marshaling those assets as necessary. Further, the order stayed or abated pending lawsuits involving IIC as the insurer until May 6, 2014.   On April 10, 2014, the Court of Chancery of the State of Delaware entered a Liquidation and Injunction Order With Bar Date (“Liquidation Order”), which ordered the liquidation of IIC and terminated all insurance policies or contracts of insurance issued by IIC. The Liquidation Order further ordered that all claims against IIC must be filed with the Receiver before the close of business on January 16, 2015 and that all pending lawsuits involving IIC as the insurer are further stayed or abated until October 7, 2014. As a result, the Company and its subsidiaries no longer have insurance coverage under the liability policy with IIC. Currently, there are several civil lawsuits pending against the Company and its subsidiaries. The Company has retained counsel to defend against and evaluate these claims and lawsuits. We are funding 100% of the costs of litigation and will seek reimbursement from the bankruptcy receiver. The Company filed the appropriate claims against IIC with the Receiver before the January 16, 2015 deadline and has provided updates as requested; however, there are no assurances of any recovery from these claims. It is unknown at this time what effect this uncertainty will have on the Company. As previously stated, since October 25, 2013, the Company has obtained general liability coverage from other insurers, which have covered and/or will cover any claims arising from actions after that date. As of December 31, 2018, we have 2 unresolved claims out of the original 71 claims.   General   The Company has been sued by a landlord in the 333rd Judicial District Court of Harris County, Texas for a Houston Bombshells which was under renovation in 2015. The plaintiff alleges RCI Hospitality Holdings, Inc.’s subsidiary, BMB Dining Services (Willowbrook), Inc., breached a lease agreement by constructing an outdoor patio, which allegedly interfered with the common areas of the shopping center, and by failing to provide Plaintiff with proposed plans before beginning construction. Plaintiff also asserts RCI Hospitality Holdings, Inc. is liable as guarantor of the lease. The lease was for a Bombshells restaurant to be opened in the Willowbrook Shopping Center in Houston, Texas. Both RCI Hospitality Holdings, Inc. and BMB Dining Services (Willowbrook), Inc. have denied liability and assert that Plaintiff has failed to mitigate its claimed damages. Further, BMB Dining Services (Willowbrook), Inc. asserts that Plaintiff affirmatively represented that the patio could be constructed under the lease and has filed counter claims and third-party claims against Plaintiff and Plaintiff’s manager asserting that they committed fraud and that the landlord breached the applicable agreements. While the case was tried to a jury in late September 2018 and an adverse judgment was entered in January 2019, such judgment remains modifiable, substantial disputes remain related to the legal impact of the jury’s verdict, and the parties are currently engaged in motion practice to resolve their disputes. It is unknown at this time whether the resolution of this uncertainty will have a material effect on the Company’s financial condition.   On June 23, 2014, Mark H. Dupray and Ashlee Dupray filed a lawsuit against Pedro Antonio Panameno and our subsidiary JAI Dining Services (Phoenix) Inc. (“JAI Phoenix”) in the Superior Court of Arizona for Maricopa County. The suit alleged that Mr. Panameno injured Mr. Dupray in a traffic accident after being served alcohol at an establishment operated by JAI Phoenix. The suit alleged that JAI Phoenix was liable under theories of common law dram shop negligence and dram shop negligence per se. After a jury trial proceeded to a verdict in favor of the plaintiffs against both defendants, in April 2017 the Court entered a judgment under which JAI Phoenix’s share of compensatory damages is approximately $1.4 million and its share of punitive damages is $4 million. In May 2017, JAI Phoenix filed a motion for judgment as a matter of law or, in the alternative, motion for new trial. The Court denied this motion in August 2017. In September 2017, JAI Phoenix filed a notice of appeal. In June 2018, the matter was heard by the Arizona Court of Appeals. On November 15, 2018 the Court of Appeals vacated the jury’s verdict and remanded the case to the trial court. It is anticipated that a new trial will occur at some point in the future. JAI Phoenix will continue to vigorously defend itself.   Settlements of lawsuits for the quarters ended December 31, 2018 and 2017 total $60,000 and $27,000, respectively. As of December 31, 2018 or September 30, 2018, the Company has nothing accrued related to settlement of lawsuits.

11. Segment Information   The Company owns and operates adult nightclubs and Bombshells Restaurants and Bars. The Company has identified such reportable segments based on management responsibility and the nature of the Company’s products, services, and costs. There are no major distinctions in geographical areas served as all operations are in the United States. The Company measures segment profit (loss) as income (loss) from operations. Segment assets are those assets controlled by each reportable segment. The Other category below includes our media and energy drink divisions that are not significant to the consolidated financial statements.   Below is the financial information related to the Company’s segments (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td colspan="6" style="text-align: center; line-height: 107%">For the Three Months</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">Ended December 31,</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">2018</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">2017</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Revenues</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 58%; padding-left: 10pt; line-height: 107%">Nightclubs</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%">$</td> <td style="width: 18%; text-align: right; line-height: 107%">37,728</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%">$</td> <td style="width: 18%; text-align: right; line-height: 107%">35,218</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Bombshells</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">6,013</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">5,828</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Other</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">282</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">166</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">44,023</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">41,212</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Income (loss) from operations</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Nightclubs</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">15,387</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">13,371</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Bombshells</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">119</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">891</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Other</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">(119</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">(137</td> <td style="line-height: 107%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">General corporate</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">(4,255</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">(4,985</td> <td style="line-height: 107%">)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">11,132</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">9,140</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Depreciation and amortization</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Nightclubs</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">1,507</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">1,335</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Bombshells</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">292</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">336</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Other</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">104</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">2</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">General corporate</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">150</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">236</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">2,053</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">1,909</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Capital expenditures</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Nightclubs</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">447</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">450</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Bombshells</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">4,009</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">2,228</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Other</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">9</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">General corporate</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">2,830</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">91</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">7,295</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">2,769</td> <td style="line-height: 107%"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center">(As Revised)</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total assets</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 58%; padding-left: 10pt">Nightclubs</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">269,313</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">252,335</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Bombshells</td> <td> </td> <td> </td> <td style="text-align: right">43,540</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">39,560</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Other</td> <td> </td> <td> </td> <td style="text-align: right">2,144</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,978</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">General corporate</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">34,525</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">35,859</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">349,522</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">329,732</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>    General corporate expenses include corporate salaries, health insurance and social security taxes for officers, legal, accounting and information technology employees, corporate taxes and insurance, legal and accounting fees, depreciation and other corporate costs such as automobile and travel costs. Management considers these to be non-allocable costs for segment purposes.

The components of accrued liabilities are as follows (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Insurance</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">2,627</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">3,807</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Payroll and related costs</td> <td> </td> <td> </td> <td style="text-align: right">2,584</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">2,293</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Property taxes</td> <td> </td> <td> </td> <td style="text-align: right">2,058</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,796</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Sales and liquor taxes</td> <td> </td> <td> </td> <td style="text-align: right">1,959</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,883</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Patron tax</td> <td> </td> <td> </td> <td style="text-align: right">640</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">532</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Unearned revenues</td> <td> </td> <td> </td> <td style="text-align: right">429</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">134</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">Other</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1,643</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1,528</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">11,940</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">11,973</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

The components of selling, general and administrative expenses are as follows (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td> </td> <td colspan="6" style="text-align: center">For the Three Months</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center">Ended December 31,</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">2017</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Taxes and permits</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">2,181</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">2,166</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Advertising and marketing</td> <td> </td> <td> </td> <td style="text-align: right">2,148</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,965</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Supplies and services</td> <td> </td> <td> </td> <td style="text-align: right">1,456</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,368</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Insurance</td> <td> </td> <td> </td> <td style="text-align: right">1,353</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,259</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Legal</td> <td> </td> <td> </td> <td style="text-align: right">1,058</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">377</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Rent</td> <td> </td> <td> </td> <td style="text-align: right">1,019</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">940</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Charge card fees</td> <td> </td> <td> </td> <td style="text-align: right">933</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">887</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Utilities</td> <td> </td> <td> </td> <td style="text-align: right">744</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">695</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Security</td> <td> </td> <td> </td> <td style="text-align: right">709</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">638</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Accounting and professional fees</td> <td> </td> <td> </td> <td style="text-align: right">650</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">886</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Repairs and maintenance</td> <td> </td> <td> </td> <td style="text-align: right">587</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">570</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt">Other</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1,189</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1,061</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">14,027</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">12,812</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

12. Noncontrolling Interests   Noncontrolling interests represent the portion of equity in a consolidated entity held by owners other than the consolidating parent. Noncontrolling interests are reported in the consolidated balance sheets within equity, separately from stockholders’ equity. Revenue, expenses and net income attributable to both the Company and the noncontrolling interests are reported in the consolidated statements of income.   Our consolidated financial statements include noncontrolling interests related principally to the Company’s ownership of 51% of an entity which owns one of the Company’s nightclubs in New York City.

13. Related Party Transactions   Presently, our Chairman and President, Eric Langan, personally guarantees all of the commercial bank indebtedness of the Company. Mr. Langan receives no compensation or other direct financial benefit for any of the guarantees.   Included in the $2.35 million borrowing on November 1, 2018 (see Note 6) was a $500,000 note borrowed from a related party. The terms of this related party note are similar to the rest of the lender group in the November 1, 2018 transaction.

1.00

60000

27000

7295000

450000

2228000

447000

4009000

2769000

9000

2830000

91000

9690500 RICK 2019

1959000

1883000

2584000

2293000

2627000

3807000

2058000 1796000 87000 640000 532000

1643000

1528000

1019000

940000

5812000

1984000

2094000

3736000

3755000

36000

92000

5885000

13500000

1456000 1368000 744000 695000

63857000

64212000

Below is the financial information related to the Company’s segments (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td colspan="6" style="text-align: center; line-height: 107%">For the Three Months</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">Ended December 31,</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">2018</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center; line-height: 107%">2017</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Revenues</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 58%; padding-left: 10pt; line-height: 107%">Nightclubs</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%">$</td> <td style="width: 18%; text-align: right; line-height: 107%">37,728</td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%"> </td> <td style="width: 1%; line-height: 107%">$</td> <td style="width: 18%; text-align: right; line-height: 107%">35,218</td> <td style="width: 1%; line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Bombshells</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">6,013</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">5,828</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Other</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">282</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">166</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">44,023</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">41,212</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Income (loss) from operations</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Nightclubs</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">15,387</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">13,371</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Bombshells</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">119</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">891</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Other</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">(119</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">(137</td> <td style="line-height: 107%">)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">General corporate</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">(4,255</td> <td style="line-height: 107%">)</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">(4,985</td> <td style="line-height: 107%">)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">11,132</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">9,140</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%">Depreciation and amortization</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Nightclubs</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">1,507</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">1,335</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Bombshells</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">292</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">336</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Other</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">104</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">2</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">General corporate</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">150</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">236</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">2,053</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">1,909</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 107%">Capital expenditures</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%"> </td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Nightclubs</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">447</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%">$</td> <td style="text-align: right; line-height: 107%">450</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">Bombshells</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">4,009</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">2,228</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt; line-height: 107%">Other</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">9</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="text-align: right; line-height: 107%">-</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt; line-height: 107%">General corporate</td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">2,830</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; line-height: 107%"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right; line-height: 107%">91</td> <td style="line-height: 107%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">7,295</td> <td style="line-height: 107%"> </td> <td style="line-height: 107%"> </td> <td style="border-bottom: black 2.25pt double; line-height: 107%">$</td> <td style="border-bottom: black 2.25pt double; text-align: right; line-height: 107%">2,769</td> <td style="line-height: 107%"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center">(As Revised)</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total assets</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 58%; padding-left: 10pt">Nightclubs</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">269,313</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">252,335</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Bombshells</td> <td> </td> <td> </td> <td style="text-align: right">43,540</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">39,560</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Other</td> <td> </td> <td> </td> <td style="text-align: right">2,144</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">1,978</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">General corporate</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">34,525</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">35,859</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">349,522</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">329,732</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

44023000

35218000

5828000

37728000

6013000

5690000

5307000

17331000

15889000

18310000

17805000

2692000

2211000

41212000

282000

166000

14802000

3207000

17313000

2406000

3508000

2483000

18000

4000

282000

37392000

336000

6013000

267000

15000

14125000

3162000

15889000

2042000

3680000

2145000

3000

166000

34927000

291000

5828000

145000

21000

14. Acquisitions and Disposition   In October 2018, the Company sold its nightclub in Philadelphia for a total sales price of $1.0 million, payable $375,000 in cash at closing and a $625,000 9% note payable over a 10-year period. The note is payable interest-only for twelve months at the conclusion of which time a balloon payment of $250,000 is due, and then the remainder of the principal and interest is payable in 108 equal installments of $5,078 per month until October 2028. The buyer will lease the property from the Company’s real estate subsidiary under the following terms: $36,000 per month lease payments for ten years; renewal option for a succeeding ten years at a minimum of $48,000 per month; lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028. The Company recorded a gain on the sale transaction of approximately $879,000, which is included in other charges (gains), net in our consolidated statement of income during the quarter ended December 31, 2018.    On November 1, 2018, a club in Chicago was acquired for a total consideration of $10.5 million with $6.0 million cash paid at closing, including acquisition-related costs, and the $4.5 million in a 6-year seller financed note with interest at 7%. The Company paid approximately $37,000 in acquisition-related costs for this transaction, which is included in selling, general and administrative expenses in our consolidated statement of income. The club generated revenue of approximately $742,000 since acquisition date.   The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%">Land and building</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">4,325</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Inventory</td> <td> </td> <td> </td> <td style="text-align: right">57</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Furniture and equipment</td> <td> </td> <td> </td> <td style="text-align: right">50</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Noncompete</td> <td> </td> <td> </td> <td style="text-align: right">100</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">SOB license</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right">5,968</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt">Goodwill</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="text-align: right">1,463</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">Deferred tax liability</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(1,463</td> <td style="padding-bottom: 1.5pt">)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt">Net assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">10,500</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>   On November 5, 2018, a Pittsburgh club was acquired for a total consideration of $15.1 million, with $7.6 million cash paid at closing, including acquisition-related costs, and two seller notes payable. The first note is 2-year 7% note for $2.0 million, and the second is a 10-year 8% note for $5.5 million. The Company paid approximately $134,000 in acquisition-related costs for this transaction, which is included in selling, general and administrative expenses in our consolidated statement of income. The club generated revenue of approximately $892,000 since acquisition date.   The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%">Land and building</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">5,000</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Inventory</td> <td> </td> <td> </td> <td style="text-align: right">23</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Furniture and equipment</td> <td> </td> <td> </td> <td style="text-align: right">200</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Noncompete</td> <td> </td> <td> </td> <td style="text-align: right">100</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">Goodwill</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">9,677</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt">Net assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">15,000</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>   It is management’s expectation that the purchase price of these acquisitions will be allocated to assets, including land, buildings, inventory, noncompetes, SOB license, and goodwill; however, the final purchase price allocation of the two clubs remains subject to post-closing adjustments until the Company has completed final valuation and accounting for the transactions.   Subsequent to the quarter ended December 31, 2018, the Company sold a held-for-sale property in Dallas, Texas for a total sales price of $1.4 million, payable $163,000 in cash at closing, net of closing costs and property taxes of $87,000, and a $1.15 million 8% note payable over a three-year period. The note is payable $9,619 per month, principal and interest, for the first 35 months with the remaining balance payable at maturity. The buyer has the option to extend the maturity date by one year at least 60 days prior to maturity, as long as the buyer is not in default. The Company recorded a preliminary gain on the sale transaction of approximately $383,000.

458000

-9697000

-142000 -75000

1176000

-140000

20000

-543000

-1723000

926000

163000

270000

-1939000

-1044000

-470000

668000

11452000

8145000

1245000

632000

20000

32000

28000

7295000

2769000

-19518000

-2089000

5652000

58920000

5279000

61256000

543000

355000

291000

292000

799000

54000

-273000

-4024000

9387000

17726000

2345000

2890000

243000

157000

81200000

60000

44000

false false false

220000

10500000

4500000

15100000

2000000

5500000

119000

9700000

8700000

1463000

742000

892000

2350000

500000

0.220

1.343

195815

0.21

0.35

0.245

165000 165000 10000000 5 5 10000000

0.096

7200000

8200000

7200000

687815 60 8200

95000

324000

1. Basis of Presentation   The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP” or “U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q of Regulation S-X. They do not include all information and footnotes required by GAAP for complete financial statements. The September 30, 2018 consolidated balance sheet data were derived from audited financial statements but do not include all disclosures required by GAAP. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements for the year ended September 30, 2018 included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on December 31, 2018. The interim unaudited condensed consolidated financial statements should be read in conjunction with those consolidated financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation of the financial statements, consisting solely of normal recurring adjustments, have been made. Operating results for the three months ended December 31, 2018 are not necessarily indicative of the results that may be expected for the year ending September 30, 2019.

2. Recent Accounting Standards and Pronouncements   In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. The standard’s effective date has been deferred by the issuance of ASU No. 2015-14, and is effective for annual periods beginning after December 15, 2017, and interim periods therein. The guidance permits using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). Early application is permitted but not before December 15, 2016, the ASU’s original effective date. The Company adopted the new revenue recognition standard as of October 1, 2018 using the cumulative effect method, which did not have a material impact on its consolidated financial statements. See Note 4.   In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which amends the guidance on the classification and measurement of financial instruments. Although the ASU retains many current requirements, it significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. The ASU also amends certain disclosure requirements associated with the fair value of financial instruments. The amendments of the ASU are effective for us for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company adopted ASU 2016-01 as of October 1, 2018. Our adoption required the Company to reclassify $220,000 from accumulated other comprehensive income to retained earnings as of the beginning of the quarter ended December 31, 2018. All succeeding unrealized gains or losses related the changes in the market value of our equity securities will be included in non-operating gains/losses in our consolidated statement of income.   In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), on accounting for leases which requires lessees to recognize most leases on their balance sheets for the rights and obligations created by those leases. The guidance requires enhanced disclosures regarding the amount, timing, and uncertainty of cash flows arising from leases, and will be effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted. The guidance requires the use of a modified retrospective approach. We expect our consolidated balance sheets to be materially impacted upon adoption due to the recognition of right-of-use assets and lease liabilities related to currently classified operating leases. As a preparation for the evaluation and implementation of the new lease standard, we have started to collect real property and equipment leases on prior years affected by the standard. While we anticipate changes in the classification of expenses in our income statement and the timing of recognition of these expenses, we are still evaluating the materiality of the implementation of this standard. In February 2018, the FASB issued ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU provides financial statement preparers with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (“Tax Act”) is recorded. The ASU requires financial statement preparers to disclose (1) a description of the accounting policy for releasing income tax effects from AOCI; (2) whether they elect to reclassify the stranded income tax effects from the Tax Act; and (3) information about the other income tax effects that are reclassified. The amendments affect any organization that is required to apply the provisions of Topic 220, Income Statement—Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The ASU is effective for all organizations for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. Organizations should apply the proposed amendments either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. We believe that the adoption of this ASU will not have a material impact on our consolidated financial statements.   In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. This ASU expands the scope of Topic 718, which currently only includes share-based payments issued to employees, to include share-based payments issued to nonemployees for goods and services. This ASU is effective for the Company for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted, but no earlier than the Company’s adoption of ASU 2014-09. We are still evaluating the impact of this ASU on the Company’s consolidated financial statements.   In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 modifies the disclosure requirements of Accounting Standards Codification (“ASC”) Topic 820 with certain removals, modifications, and additions. Eliminated disclosures that may affect the Company include (1) transfers between level 1 and level 2 of the fair value hierarchy, and (2) policies related to valuation processes and the timing of transfers between levels of the fair value hierarchy. Modified disclosures that may affect the Company include (1) a requirement to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse if the entity has communicated the timing publicly for investments in certain entities that calculate net asset value, and (2) clarification that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. Additional disclosures that may affect the Company include (1) disclosure of changes in unrealized gains and losses for the period included in other comprehensive income for recurring level 3 fair value measurements held at the end of the reporting period, and (2) disclosure of the range and weighted average of significant unobservable inputs used to develop level 3 fair value measurements. The update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures upon issuance of the ASU and delay adoption of the additional disclosures until the effective date. We are still evaluating the impact of this ASU on the Company’s consolidated financial statements.

7. Stockholders’ Equity   During the quarter ended December 31, 2018, the Company purchased and retired 14,111 common shares at a cost of approximately $355,000. The Company paid a $0.03 per share cash dividend totaling approximately $291,000.   During the quarter ended December 31, 2017, the Company did not purchase shares of its common stock. The Company also paid a $0.03 per share cash dividend totaling approximately $292,000.   On January 2, 2019, the Company’s Board of Directors authorized an additional $10.0 million to repurchase the Company’s common stock.

8. Earnings Per Share   Basic earnings per share (“EPS”) includes no dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. Potential common stock shares consist of shares that may arise from outstanding dilutive common restricted stock, stock options and warrants (the number of which is computed using the “treasury stock method”) and from outstanding convertible debentures (the number of which is computed using the “if converted method”). Diluted EPS considers the potential dilution that could occur if the Company’s outstanding common restricted stock, stock options, warrants and convertible debentures were converted into common stock that then shared in the Company’s earnings (as adjusted for interest expense that would no longer occur if the debentures were converted).   During the quarter ended December 31, 2018 and 2017, the Company did not have adjustment items to reconcile the numerator and the denominator in the calculation of basic and diluted EPS.

2350000 300000 100000 450000 200000 1950000 25500000 13500000 12000000 18700000

7100000

14111

355000

291000

292000

10000000

The Tax Cuts and Jobs Act ("Tax Act") was enacted on December 22, 2017, and includes, among other items, a reduction in the federal corporate income tax rate from 35% to 21% effective January 1, 2018.

2521000

3079000

Revenues, as disaggregated by revenue type, timing of recognition, and reportable segment (see Note 10), are shown below.   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Nightclubs</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Bombshells</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Other</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Quarter ended December 31, 2018:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 49%; padding-left: 10pt">Sales of alcoholic beverages</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 14%; text-align: right">14,802</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 14%; text-align: right">3,508</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 14%; text-align: right">-</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Sales of food and merchandise</td> <td> </td> <td> </td> <td style="text-align: right">3,207</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">2,483</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Service revenues</td> <td> </td> <td> </td> <td style="text-align: right">17,313</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">18</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Other revenues</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">2,406</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">4</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">282</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">37,728</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">6,013</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">282</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Recognized at a point in time</td> <td> </td> <td>$</td> <td style="text-align: right">37,392</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">6,013</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">267</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Recognized over time</td> <td> </td> <td>$</td> <td style="text-align: right">336</td> <td>*</td> <td> </td> <td>$</td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">15</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Quarter ended December 31, 2017:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Sales of alcoholic beverages</td> <td> </td> <td>$</td> <td style="text-align: right">14,125</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">3,680</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Sales of food and merchandise</td> <td> </td> <td> </td> <td style="text-align: right">3,162</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">2,145</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Service revenues</td> <td> </td> <td> </td> <td style="text-align: right">15,889</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Other revenues</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">2,042</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">3</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">166</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">35,218</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">5,828</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">166</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Recognized at a point in time</td> <td> </td> <td>$</td> <td style="text-align: right">34,927</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">5,828</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">145</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Recognized over time</td> <td> </td> <td>$</td> <td style="text-align: right">291</td> <td>*</td> <td> </td> <td>$</td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">21</td> <td> </td></tr> </table>   * Rental revenue (included in Other Revenues) as covered by ASC Topic 840. All other revenues are covered by ASC Topic 606.

A reconciliation of contract liabilities with customers is presented below:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> Balance at September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Consideration Received</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Recognized in Revenue</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Balance at December 31, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 44%">Ad revenue</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">126</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">274</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">(181</td> <td style="width: 1%">)</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">219</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Expo revenue</td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">201</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">201</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">Other</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">8</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">-</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">9</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">134</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">476</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">(181</td> <td style="padding-bottom: 2.5pt">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">429</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

375000

6000000

7600000

37000

134000

4. Revenues   On October 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers (formerly ASU 2014-09). The Company recognizes revenue from the sale of alcoholic beverages, food and merchandise, service and other revenues at the point-of-sale upon receipt of cash, check, or credit card charge, net of discounts and promotional allowances based on consideration specified in implied contracts with customers. Sales and liquor taxes collected from customers and remitted to governmental authorities are presented on a net basis in the accompanying consolidated statements of income. The Company recognizes revenue when it satisfies a performance obligation (point in time of sale) by transferring control over a product or service to a customer.   Commission revenues, such as ATM commission, are recognized when the basis for such commission has transpired. Revenues from the sale of magazines and advertising content are recognized when the issue is published and shipped. Revenues and external expenses related to the Company’s annual Expo convention are recognized upon the completion of the convention, which normally occurs during our fiscal fourth quarter. Other rental revenues are recognized when earned (recognized over time) and are more appropriately covered by guidance under ASC Topic 840, Leases.   Revenues, as disaggregated by revenue type, timing of recognition, and reportable segment (see Note 11), are shown below.   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Nightclubs</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Bombshells</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Other</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Quarter ended December 31, 2018:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 49%; padding-left: 10pt">Sales of alcoholic beverages</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 14%; text-align: right">14,802</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 14%; text-align: right">3,508</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 14%; text-align: right">-</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Sales of food and merchandise</td> <td> </td> <td> </td> <td style="text-align: right">3,207</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">2,483</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Service revenues</td> <td> </td> <td> </td> <td style="text-align: right">17,313</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">18</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Other revenues</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">2,406</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">4</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">282</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">37,728</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">6,013</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">282</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Recognized at a point in time</td> <td> </td> <td>$</td> <td style="text-align: right">37,392</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">6,013</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">267</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Recognized over time</td> <td> </td> <td>$</td> <td style="text-align: right">336</td> <td>*</td> <td> </td> <td>$</td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">15</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Quarter ended December 31, 2017:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Sales of alcoholic beverages</td> <td> </td> <td>$</td> <td style="text-align: right">14,125</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">3,680</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Sales of food and merchandise</td> <td> </td> <td> </td> <td style="text-align: right">3,162</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">2,145</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Service revenues</td> <td> </td> <td> </td> <td style="text-align: right">15,889</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Other revenues</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">2,042</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">3</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">166</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">35,218</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">5,828</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">166</td> <td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-left: 10pt">Recognized at a point in time</td> <td> </td> <td>$</td> <td style="text-align: right">34,927</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">5,828</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">145</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-left: 10pt">Recognized over time</td> <td> </td> <td>$</td> <td style="text-align: right">291</td> <td>*</td> <td> </td> <td>$</td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">21</td> <td> </td></tr> </table>   * Rental revenue (included in Other Revenues) as covered by ASC Topic 840. All other revenues are covered by ASC Topic 606.   The Company does not have contract assets with customers. The Company’s unconditional right to consideration for goods and services transferred to the customer is included in accounts receivable, net in our consolidated balance sheet. A reconciliation of contract liabilities with customers is presented below:   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid"> Balance at September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Consideration Received</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Recognized in Revenue</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Balance at December 31, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 44%">Ad revenue</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">126</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">274</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">(181</td> <td style="width: 1%">)</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">219</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Expo revenue</td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">201</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">201</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">Other</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">8</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">-</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">9</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">134</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">476</td> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">(181</td> <td style="padding-bottom: 2.5pt">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">429</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>   Contract liabilities with customers are included in accrued liabilities as unearned revenues in our consolidated balance sheets (see also Note 5), while the revenues associated with these contract liabilities are included in other revenues in our consolidated statements of income.

1000000

The Company sold its nightclub in Philadelphia for a total sales price of $1.0 million, payable $375,000 in cash at closing and a $625,000 9% note payable over a 10-year period. The note is payable interest-only for twelve months at the conclusion of which time a balloon payment of $250,000 is due, and then the remainder of the principal and interest is payable in 108 equal installments of $5,078 per month until October 2028. The buyer will lease the property from the Company's real estate subsidiary under the following terms: $36,000 per month lease payments for ten years; renewal option for a succeeding ten years at a minimum of $48,000 per month; lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028.

250000

5078

15118

36000

P10Y

48000

6000000

Lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028.

879000

163000

50000

200000

1150000

9619

P3Y P35M 383000

-8339000

2032000

9387000

17726000

11954000

9922000

429000

134000

126000

219000

201000

8000

9000

476000 1000 274000 201000

-181000

4200000

4500000

0.51

The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%">Land and building</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">4,325</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Inventory</td> <td> </td> <td> </td> <td style="text-align: right">57</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Furniture and equipment</td> <td> </td> <td> </td> <td style="text-align: right">50</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Noncompete</td> <td> </td> <td> </td> <td style="text-align: right">100</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">SOB license</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right">5,968</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 1.5pt">Goodwill</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="text-align: right">1,463</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">Deferred tax liability</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(1,463</td> <td style="padding-bottom: 1.5pt">)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt">Net assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">10,500</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 79%">Land and building</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 18%; text-align: right">5,000</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Inventory</td> <td> </td> <td> </td> <td style="text-align: right">23</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Furniture and equipment</td> <td> </td> <td> </td> <td style="text-align: right">200</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Noncompete</td> <td> </td> <td> </td> <td style="text-align: right">100</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="padding-bottom: 1.5pt">Goodwill</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">9,677</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="padding-bottom: 2.5pt">Net assets</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double">$</td> <td style="border-bottom: black 2.25pt double; text-align: right">15,000</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

2350000

450000

200000

2021-11-01

300000 100000

5000000

3000000

The Company amended the $5.0 million short-term note payable related to the Scarlett's acquisition, which had a remaining balance of $3.0 million as of December 6, 2018, extending the maturity date from May 8, 2019, as previously amended, to May 8, 2020.

2800000

554000

2200000

Promissory note payable in 20 years with monthly payments

Note 3. Revision of Prior Year Immaterial Misstatement   During the quarter ended December 31, 2018, the Company identified certain mechanical errors in our goodwill impairment analysis that was performed for our annual impairment testing for fiscal year ended September 30, 2018. These errors related to the use of an incorrect income tax rate assumption and the exclusion of certain debt service payments as part of our goodwill impairment testing for two of our reporting units, which resulted in a goodwill impairment charge of $834,000.   The Company assessed the materiality of these errors considering both qualitative and quantitative factors and determined that for both the quarter and fiscal year ended September 30, 2018, the errors were immaterial. The Company has decided to correct these immaterial errors as revisions to our previously issued financial statements and will adjust the Form 10-K when filed in succeeding periods of this fiscal year.   The tables below present the impact of the revision in the Company’s consolidated financial statements (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center">Fiscal Year Ended September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Previously Reported</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Adjustments</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Revised</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td>Statement of Income/Comprehensive Income:</td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Other charges, net</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">8,350</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">834</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">9,184</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total operating expenses</td> <td> </td> <td> </td> <td style="text-align: right">137,352</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">834</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">138,186</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Income from operations</td> <td> </td> <td> </td> <td style="text-align: right">28,396</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">27,562</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Income before income taxes</td> <td> </td> <td> </td> <td style="text-align: right">18,676</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">17,842</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Net income</td> <td> </td> <td> </td> <td style="text-align: right">21,794</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">20,960</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Net income attributable to RCIHH common shareholders</td> <td> </td> <td> </td> <td style="text-align: right">21,713</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">20,879</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Earnings per share - basic</td> <td> </td> <td>$</td> <td style="text-align: right">2.23</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">(0.08</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">2.15</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Earnings per share - diluted</td> <td> </td> <td>$</td> <td style="text-align: right">2.23</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">(0.08</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">2.15</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Comprehensive income</td> <td> </td> <td>$</td> <td style="text-align: right">22,014</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">21,180</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Comprehensive income attributable to RCI Hospitality Holdings, Inc.</td> <td> </td> <td> </td> <td style="text-align: right">21,933</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">21,099</td> <td> </td></tr> </table>     <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center">September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Previously Reported</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Adjustment</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Revised</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td>Balance Sheet/Statement of Changes in Stockholders’ Equity</td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Goodwill</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">44,425</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">(834</td> <td style="width: 1%">)</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">43,591</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total assets</td> <td> </td> <td> </td> <td style="text-align: right">330,566</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">329,732</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Retained earnings</td> <td> </td> <td> </td> <td style="text-align: right">89,740</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">88,906</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total RCIHH stockholders’ equity</td> <td> </td> <td> </td> <td style="text-align: right">154,269</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">153,435</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total stockholders’ equity</td> <td> </td> <td> </td> <td style="text-align: right">154,166</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">153,332</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total liabilities and stockholders’ equity</td> <td> </td> <td> </td> <td style="text-align: right">330,566</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">329,732</td> <td> </td></tr> </table>   The table below presents the impact of the revision in the Company’s notes to its consolidated financial statements related to unaudited quarterly results of operations (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center">Quarter Ended September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Previously Reported</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Adjustment</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Revised</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Income from operations</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">1,533</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">(834</td> <td style="width: 1%">)</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">699</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Net loss attributable to RCIHH common shareholders</td> <td> </td> <td> </td> <td style="text-align: right">(2,672</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">(3,506</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Loss per share - basic</td> <td> </td> <td>$</td> <td style="text-align: right">(0.27</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">(0.09</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">(0.36</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Loss per share - diluted</td> <td> </td> <td>$</td> <td style="text-align: right">(0.27</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">(0.09</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">(0.36</td> <td>)</td></tr> </table>   The consolidated statements of cash flows are not presented because there is no impact on total cash flows from operating activities, investing activities and financing activities. Certain components of net cash provided by operating activities changed, as caused by the revision, but the net change amounted to zero for both quarter and fiscal year ended September 30, 2018.

The tables below present the impact of the revision in the Company’s consolidated financial statements (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center">Fiscal Year Ended September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Previously Reported</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Adjustments</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Revised</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td>Statement of Income/Comprehensive Income:</td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Other charges, net</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">8,350</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">834</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">9,184</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total operating expenses</td> <td> </td> <td> </td> <td style="text-align: right">137,352</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">834</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">138,186</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Income from operations</td> <td> </td> <td> </td> <td style="text-align: right">28,396</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">27,562</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Income before income taxes</td> <td> </td> <td> </td> <td style="text-align: right">18,676</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">17,842</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Net income</td> <td> </td> <td> </td> <td style="text-align: right">21,794</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">20,960</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Net income attributable to RCIHH common shareholders</td> <td> </td> <td> </td> <td style="text-align: right">21,713</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">20,879</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Earnings per share - basic</td> <td> </td> <td>$</td> <td style="text-align: right">2.23</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">(0.08</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">2.15</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Earnings per share - diluted</td> <td> </td> <td>$</td> <td style="text-align: right">2.23</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">(0.08</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">2.15</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Comprehensive income</td> <td> </td> <td>$</td> <td style="text-align: right">22,014</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">21,180</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Comprehensive income attributable to RCI Hospitality Holdings, Inc.</td> <td> </td> <td> </td> <td style="text-align: right">21,933</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">21,099</td> <td> </td></tr> </table>     <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center">September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Previously Reported</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Adjustment</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Revised</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td>Balance Sheet/Statement of Changes in Stockholders’ Equity</td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Goodwill</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">44,425</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">(834</td> <td style="width: 1%">)</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">43,591</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total assets</td> <td> </td> <td> </td> <td style="text-align: right">330,566</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">329,732</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Retained earnings</td> <td> </td> <td> </td> <td style="text-align: right">89,740</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">88,906</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total RCIHH stockholders’ equity</td> <td> </td> <td> </td> <td style="text-align: right">154,269</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">153,435</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total stockholders’ equity</td> <td> </td> <td> </td> <td style="text-align: right">154,166</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">153,332</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total liabilities and stockholders’ equity</td> <td> </td> <td> </td> <td style="text-align: right">330,566</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">329,732</td> <td> </td></tr> </table>   The table below presents the impact of the revision in the Company’s notes to its consolidated financial statements related to unaudited quarterly results of operations (in thousands):   <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center">Quarter Ended September 30, 2018</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Previously Reported</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Adjustment</td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">As Revised</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 58%">Income from operations</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">1,533</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">(834</td> <td style="width: 1%">)</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 11%; text-align: right">699</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Net loss attributable to RCIHH common shareholders</td> <td> </td> <td> </td> <td style="text-align: right">(2,672</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">(834</td> <td>)</td> <td> </td> <td> </td> <td style="text-align: right">(3,506</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Loss per share - basic</td> <td> </td> <td>$</td> <td style="text-align: right">(0.27</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">(0.09</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">(0.36</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Loss per share - diluted</td> <td> </td> <td>$</td> <td style="text-align: right">(0.27</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">(0.09</td> <td>)</td> <td> </td> <td>$</td> <td style="text-align: right">(0.36</td> <td>)</td></tr> </table>

834000

-1097000 89000

429000

134000

-447000

95179000

88906000

220000

4325000 5000000

57000

23000

100000

5968000

10500000

15000000

9184000

8350000

834000

21180000

22014000

-834000

21099000

21933000

-834000

220000

-447000

Rental revenue (included in Other Revenues) as covered by ASC Topic 840. All other revenues are covered by ASC Topic 606.

EX-101.SCH 6 rick-20181231.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Consolidated Statements of Income (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Disclosure - Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Recent Accounting Standards and Pronouncements link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Revision of Prior Year Immaterial Misstatement link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Revenues link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Selected Account Information link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Long-Term Debt link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Stockholders' Equity link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Earnings Per Share link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Segment Information link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Noncontrolling Interests link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Acquisitions and Disposition link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Revision of Prior Year Immaterial Misstatement (Tables) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Revenues (Tables) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Selected Account Information (Tables) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Segment Information (Tables) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Acquisitions and Disposition (Tables) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Recent Accounting Standards and Pronouncements (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Revision of Prior Year Immaterial Misstatement (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Revision of Prior Year Immaterial Misstatement - Summary of Consolidated Financial Statements (Details) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Revenues - Schedule of Disaggregation of Segment Revenues (Details) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Revenues - Schedule of Reconciliation of Contract Liabilities with Customers (Details) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Selected Account Information - Schedule of Accrued Liabilities (Details) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Selected Account Information - Schedule of Selling, General and Administrative Expenses (Details) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Long-Term Debt (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Stockholders' Equity (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Income Taxes (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Commitments and Contingencies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Segment Information - Schedule of Segment Reporting Information (Details) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Noncontrolling Interests (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - Related Party Transactions (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - Acquisitions and Dispositions (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - Acquisitions and Dispositions - Schedule of preliminary allocation of fair values assigned to assets at acquisition (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 rick-20181231_cal.xml XBRL CALCULATION FILE EX-101.DEF 8 rick-20181231_def.xml XBRL DEFINITION FILE EX-101.LAB 9 rick-20181231_lab.xml XBRL LABEL FILE Legal Entity [Axis] JAI Phoenix [Member] Litigation Case [Axis] Compensatory Damages [Member] Punitive Damages [Member] Indemnity Insurance Corporation [Member] Segments [Axis] Nightclubs [Member] Bombshells [Member] Other [Member] General Corporate [Member] Product and Service [Axis] Sales of Food and Merchandise [Member] Service Revenues [Member] Sales of Alcoholic Beverages [Member] Service and Other [Member] Debt Instrument [Axis] 12% Unsecured Promissory Notes [Member] Note One [Member] Note Two [Member] Business Acquisition [Axis] Scarlett's Acquisition [Member] Award Type [Axis] September 30, 2019 [Member] Type of Arrangement and Non-arrangement Transactions [Axis] Settlement Agreement [Member] Declaratory Judgment Action [Member] Other Revenues [Member] Timing of Transfer of Good or Service [Axis] Recognized at a Point in Time [Member] Recognized over Time [Member] Ad Revenue [Member] Expo Revenue [Member] January 2, 2019 [Member] Income Tax Authority [Axis] Tax Cuts and Jobs Act Tax Act [Member] Full Year Adjustment [Member] Ownership [Axis] NightClub [Member] 6-Year Seller Financed Note [Member] Pittsburgh Club [Member] 2-Year Seller Financed Note [Member] 10-Year Seller Financed Note [Member] Robust Energy LLC [Member] First 35 Months [Member] 5.49% Promissory Note [Member] Chicago Club [Member] Restatement [Axis] Previously Reported [Member] Adjustment [Member] Scenario, Previously Reported [Member] Restatement Adjustment [Member] Adjustments for New Accounting Pronouncements [Axis] Accounting Standards Update 2016-01 [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Entity Filer Category Entity Small Business Flag Entity Emerging Growth Company Entity Ex Transition Period Entity Common Stock, Shares Outstanding Trading Symbol Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] ASSETS Current assets Cash and cash equivalents Accounts receivable, net Inventories Prepaid insurance Other current assets Assets held for sale Total current assets Property and equipment, net Notes receivable Goodwill Intangibles, net Other assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable Accrued liabilities Current portion of long-term debt Total current liabilities Deferred tax liability, net Long-term debt, net of current portion Other long-term liabilities Total liabilities Commitments and contingencies (Note 10) Stockholders' equity Preferred stock, $0.10 par value per share; 1,000 shares authorized; none issued and outstanding Common stock, $0.01 par value per share; 20,000 shares authorized; 9,705 and 9,719 shares issued and outstanding as of December 31, 2018 and September 30, 2018, respectively Additional paid-in capital Retained earnings Accumulated other comprehensive income Total RCIHH stockholders' equity Noncontrolling interests Total stockholders' equity Total liabilities and stockholders' equity Preferred stock, par value Preferred stock, shares authorized Preferred stock, shares issued Preferred stock, shares outstanding Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Statement [Table] Statement [Line Items] Revenues Total revenues Operating expenses Cost of goods sold Total cost of goods sold (exclusive of items shown separately below) Salaries and wages Selling, general and administrative Depreciation and amortization Other charges (gains), net Total operating expenses Income from operations Other income (expenses) Interest expense Interest income Non-operating loss Income before income taxes Income tax expense (benefit) Net income Net income attributable to noncontrolling interests Net income attributable to RCIHH common shareholders Earnings per share Basic Diluted Weighted average number of common shares outstanding Basic Diluted Dividends per share Statement of Cash Flows [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES Net income Adjustments to reconcile net income to net cash provided by operating activities: Deferred tax expense (credit) Loss (gain) on sale of assets Unrealized loss on equity securities Amortization of debt discount and issuance costs Deferred rent Gain on insurance settlements Debt prepayment penalty Changes in operating assets and liabilities: Accounts receivable Inventories Prepaid expenses and other assets Accounts payable and accrued liabilities Net cash provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale of assets Proceeds from insurance Proceeds from notes receivable Additions to property and equipment Acquisition of businesses, net of cash acquired Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from long-term debt Payments on long-term debt Debt prepayment penalty Purchase of treasury stock Payment of dividends Payment of loan origination costs Distribution to noncontrolling interests Net cash used in financing activities NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CASH AND CASH EQUIVALENTS AT END OF PERIOD CASH PAID DURING PERIOD FOR: Interest, net of amounts capitalized Income taxes Non-cash and other transactions: Borrowings from certain investors Exchange of notes payable one principal balance Exchange of notes payable two principal balance Amount of new notes payable one Amount of new notes payable two Entire transaction cash received Total acquisiton price of two clubs acquired Payment of two clubs acquired Total amount of executing three-seller financed notes Refinanced long-term debt EX-101.PRE 10 rick-20181231_pre.xml XBRL PRESENTATION FILE XML 11 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Dec. 31, 2018	Feb. 01, 2019
Document And Entity Information
Entity Registrant Name	RCI HOSPITALITY HOLDINGS, INC.
Entity Central Index Key	0000935419
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Small Business Flag	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		9,690,500
Trading Symbol	RICK
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

XML 12 R2.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Current assets
Cash and cash equivalents	$ 9,387	$ 17,726
Accounts receivable, net	5,583	7,320
Inventories	2,578	2,353
Prepaid insurance	3,603	4,910
Other current assets	1,560	1,591
Assets held for sale	2,356	2,902
Total current assets	25,067	36,802
Property and equipment, net	187,502	172,403
Notes receivable	3,467	2,874
Goodwill	54,731	43,591
Intangibles, net	77,289	71,532
Other assets	1,466	2,530
Total assets	349,522	329,732
Current liabilities
Accounts payable	2,357	2,825
Accrued liabilities	11,940	11,973
Current portion of long-term debt	14,898	19,047
Total current liabilities	29,195	33,845
Deferred tax liability, net	21,473	19,552
Long-term debt, net of current portion	138,197	121,580
Other long-term liabilities	1,567	1,423
Total liabilities	190,432	176,400
Commitments and contingencies (Note 10)
Stockholders' equity
Preferred stock, $0.10 par value per share; 1,000 shares authorized; none issued and outstanding
Common stock, $0.01 par value per share; 20,000 shares authorized; 9,705 and 9,719 shares issued and outstanding as of December 31, 2018 and September 30, 2018, respectively	97	97
Additional paid-in capital	63,857	64,212
Retained earnings	95,179	88,906
Accumulated other comprehensive income		220
Total RCIHH stockholders' equity	159,133	153,435
Noncontrolling interests	(43)	(103)
Total stockholders' equity	159,090	153,332
Total liabilities and stockholders' equity	$ 349,522	$ 329,732

XML 13 R3.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Sep. 30, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.10	$ 0.10
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	9,705,000	9,719,000
Common stock, shares outstanding	9,705,000	9,719,000

XML 14 R4.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenues
Total revenues	$ 44,023	$ 41,212
Cost of goods sold
Total cost of goods sold (exclusive of items shown separately below)	5,812	5,885
Salaries and wages	12,096	11,377
Selling, general and administrative	14,027	12,812
Depreciation and amortization	2,053	1,909
Other charges (gains), net	(1,097)	89
Total operating expenses	32,891	32,072
Income from operations	11,132	9,140
Other income (expenses)
Interest expense	(2,521)	(3,079)
Interest income	51	67
Non-operating loss	(447)
Income before income taxes	8,215	6,128
Income tax expense (benefit)	1,811	(8,227)
Net income	6,404	14,355
Net income attributable to noncontrolling interests	(60)	(44)
Net income attributable to RCIHH common shareholders	$ 6,344	$ 14,311
Earnings per share
Basic	$ 0.65	$ 1.47
Diluted	$ 0.65	$ 1.47
Weighted average number of common shares outstanding
Basic	9,713,000	9,719,000
Diluted	9,713,000	9,719,000
Dividends per share	$ 0.03	$ 0.03
Sales of Alcoholic Beverages [Member]
Revenues
Total revenues	$ 18,310	$ 17,805
Cost of goods sold
Total cost of goods sold (exclusive of items shown separately below)	3,736	3,755
Sales of Food and Merchandise [Member]
Revenues
Total revenues	5,690	5,307
Cost of goods sold
Total cost of goods sold (exclusive of items shown separately below)	1,984	2,094
Service Revenues [Member]
Revenues
Total revenues	17,331	15,889
Other [Member]
Revenues
Total revenues	2,692	2,211
Service and Other [Member]
Cost of goods sold
Total cost of goods sold (exclusive of items shown separately below)	$ 92	$ 36

XML 15 R5.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 6,404	$ 14,355	$ 20,960
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,053	1,909
Deferred tax expense (credit)	458	(9,697)
Loss (gain) on sale of assets	(1,176)	140
Unrealized loss on equity securities	447
Amortization of debt discount and issuance costs	95	324
Deferred rent	142	75
Gain on insurance settlements		(20)
Debt prepayment penalty		543
Changes in operating assets and liabilities:
Accounts receivable	1,723	(926)
Inventories	(163)	(270)
Prepaid expenses and other assets	1,939	1,044
Accounts payable and accrued liabilities	(470)	668
Net cash provided by operating activities	11,452	8,145
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of assets	1,245	632
Proceeds from insurance		20
Proceeds from notes receivable	32	28
Additions to property and equipment	(7,295)	(2,769)
Acquisition of businesses, net of cash acquired	(13,500)
Net cash used in investing activities	(19,518)	(2,089)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt	5,652	58,920
Payments on long-term debt	(5,279)	(61,256)
Debt prepayment penalty		(543)
Purchase of treasury stock	(355)
Payment of dividends	(291)	(292)
Payment of loan origination costs		(799)
Distribution to noncontrolling interests		(54)
Net cash used in financing activities	(273)	(4,024)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(8,339)	2,032
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	17,726	9,922	9,922
CASH AND CASH EQUIVALENTS AT END OF PERIOD	9,387	11,954	$ 17,726
CASH PAID DURING PERIOD FOR:
Interest, net of amounts capitalized	2,345	2,890
Income taxes	243	157
Non-cash and other transactions:
Borrowings from certain investors	2,350
Exchange of notes payable one principal balance	300
Exchange of notes payable two principal balance	100
Amount of new notes payable one	450
Amount of new notes payable two	200
Entire transaction cash received	1,950
Total acquisiton price of two clubs acquired	25,500
Payment of two clubs acquired	13,500
Total amount of executing three-seller financed notes	12,000
Refinanced long-term debt		81,200
New note and repaid worth of debt		18,700
Borrowed from lender to purchase an aircraft		$ 7,100

XML 16 R6.htm IDEA: XBRL DOCUMENT

Basis of Presentation

3 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Basis of Presentation

1. Basis of Presentation

XML 17 R7.htm IDEA: XBRL DOCUMENT

Recent Accounting Standards and Pronouncements

3 Months Ended

Dec. 31, 2018

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Standards and Pronouncements

2. Recent Accounting Standards and Pronouncements

XML 18 R8.htm IDEA: XBRL DOCUMENT

Revision of Prior Year Immaterial Misstatement

3 Months Ended

Dec. 31, 2018

Accounting Changes and Error Corrections [Abstract]

Revision of Prior Year Immaterial Misstatement

Note 3. Revision of Prior Year Immaterial Misstatement

The tables below present the impact of the revision in the Company’s consolidated financial statements (in thousands):

	Fiscal Year Ended September 30, 2018
	As Previously Reported		Adjustments			As Revised
Statement of Income/Comprehensive Income:
Other charges, net	$	8,350	$	834		$	9,184
Total operating expenses		137,352		834			138,186
Income from operations		28,396		(834	)		27,562
Income before income taxes		18,676		(834	)		17,842
Net income		21,794		(834	)		20,960
Net income attributable to RCIHH common shareholders		21,713		(834	)		20,879
Earnings per share - basic	$	2.23	$	(0.08	)	$	2.15
Earnings per share - diluted	$	2.23	$	(0.08	)	$	2.15
Comprehensive income	$	22,014	$	(834	)	$	21,180
Comprehensive income attributable to RCI Hospitality Holdings, Inc.		21,933		(834	)		21,099

	September 30, 2018
	As Previously Reported		Adjustment			As Revised
Balance Sheet/Statement of Changes in Stockholders’ Equity
Goodwill	$	44,425	$	(834	)	$	43,591
Total assets		330,566		(834	)		329,732
Retained earnings		89,740		(834	)		88,906
Total RCIHH stockholders’ equity		154,269		(834	)		153,435
Total stockholders’ equity		154,166		(834	)		153,332
Total liabilities and stockholders’ equity		330,566		(834	)		329,732

The table below presents the impact of the revision in the Company’s notes to its consolidated financial statements related to unaudited quarterly results of operations (in thousands):

	Quarter Ended September 30, 2018
	As Previously Reported			Adjustment			As Revised
Income from operations	$	1,533		$	(834	)	$	699
Net loss attributable to RCIHH common shareholders		(2,672	)		(834	)		(3,506	)
Loss per share - basic	$	(0.27	)	$	(0.09	)	$	(0.36	)
Loss per share - diluted	$	(0.27	)	$	(0.09	)	$	(0.36	)

XML 19 R9.htm IDEA: XBRL DOCUMENT

Revenues

3 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenues

4. Revenues

Revenues, as disaggregated by revenue type, timing of recognition, and reportable segment (see Note 11), are shown below.

	Nightclubs			Bombshells		Other
Quarter ended December 31, 2018:
Sales of alcoholic beverages	$	14,802		$	3,508	$	-
Sales of food and merchandise		3,207			2,483		-
Service revenues		17,313			18		-
Other revenues		2,406			4		282
	$	37,728		$	6,013	$	282

Recognized at a point in time	$	37,392		$	6,013	$	267
Recognized over time	$	336	*	$	-	$	15

Quarter ended December 31, 2017:
Sales of alcoholic beverages	$	14,125		$	3,680	$	-
Sales of food and merchandise		3,162			2,145		-
Service revenues		15,889			-		-
Other revenues		2,042			3		166
	$	35,218		$	5,828	$	166

Recognized at a point in time	$	34,927		$	5,828	$	145
Recognized over time	$	291	*	$	-	$	21

* Rental revenue (included in Other Revenues) as covered by ASC Topic 840. All other revenues are covered by ASC Topic 606.

	Balance at September 30, 2018		Consideration Received		Recognized in Revenue			Balance at December 31, 2018
Ad revenue	$	126	$	274	$	(181	)	$	219
Expo revenue		-		201		-			201
Other		8		1		-			9
	$	134	$	476	$	(181	)	$	429

XML 20 R10.htm IDEA: XBRL DOCUMENT

Selected Account Information

3 Months Ended

Dec. 31, 2018

Selected Account Information

Selected Account Information

5. Selected Account Information

The components of accrued liabilities are as follows (in thousands):

	December 31, 2018		September 30, 2018
Insurance	$	2,627	$	3,807
Payroll and related costs		2,584		2,293
Property taxes		2,058		1,796
Sales and liquor taxes		1,959		1,883
Patron tax		640		532
Unearned revenues		429		134
Other		1,643		1,528
	$	11,940	$	11,973

The components of selling, general and administrative expenses are as follows (in thousands):

	For the Three Months
	Ended December 31,
	2018		2017
Taxes and permits	$	2,181	$	2,166
Advertising and marketing		2,148		1,965
Supplies and services		1,456		1,368
Insurance		1,353		1,259
Legal		1,058		377
Rent		1,019		940
Charge card fees		933		887
Utilities		744		695
Security		709		638
Accounting and professional fees		650		886
Repairs and maintenance		587		570
Other		1,189		1,061
	$	14,027	$	12,812

XML 21 R11.htm IDEA: XBRL DOCUMENT

Long-Term Debt

3 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt

6. Long-Term Debt

As of December 31, 2018, the Company is in compliance with all its debt covenants.

XML 22 R12.htm IDEA: XBRL DOCUMENT

Stockholders' Equity

3 Months Ended

Dec. 31, 2018

Equity [Abstract]

Stockholders' Equity

7. Stockholders’ Equity

During the quarter ended December 31, 2017, the Company did not purchase shares of its common stock. The Company also paid a $0.03 per share cash dividend totaling approximately $292,000.

On January 2, 2019, the Company’s Board of Directors authorized an additional $10.0 million to repurchase the Company’s common stock.

XML 23 R13.htm IDEA: XBRL DOCUMENT

Earnings Per Share

3 Months Ended

Dec. 31, 2018

Earnings per share

Earnings Per Share

8. Earnings Per Share

During the quarter ended December 31, 2018 and 2017, the Company did not have adjustment items to reconcile the numerator and the denominator in the calculation of basic and diluted EPS.

XML 24 R14.htm IDEA: XBRL DOCUMENT

Income Taxes

3 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

9. Income Taxes

XML 25 R15.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies

3 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

10. Commitments and Contingencies

Legal Matters

Texas Patron Tax

Indemnity Insurance Corporation

General

XML 26 R16.htm IDEA: XBRL DOCUMENT

Segment Information

3 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Information

11. Segment Information

Below is the financial information related to the Company’s segments (in thousands):

	For the Three Months
	Ended December 31,
	2018			2017
Revenues
Nightclubs	$	37,728		$	35,218
Bombshells		6,013			5,828
Other		282			166
	$	44,023		$	41,212

Income (loss) from operations
Nightclubs	$	15,387		$	13,371
Bombshells		119			891
Other		(119	)		(137	)
General corporate		(4,255	)		(4,985	)
	$	11,132		$	9,140

Depreciation and amortization
Nightclubs	$	1,507		$	1,335
Bombshells		292			336
Other		104			2
General corporate		150			236
	$	2,053		$	1,909

Capital expenditures
Nightclubs	$	447		$	450
Bombshells		4,009			2,228
Other		9			-
General corporate		2,830			91
	$	7,295		$	2,769

	December 31, 2018		September 30, 2018
			(As Revised)
Total assets
Nightclubs	$	269,313	$	252,335
Bombshells		43,540		39,560
Other		2,144		1,978
General corporate		34,525		35,859
	$	349,522	$	329,732

XML 27 R17.htm IDEA: XBRL DOCUMENT

Noncontrolling Interests

3 Months Ended

Dec. 31, 2018

Noncontrolling Interest [Abstract]

Noncontrolling Interests

12. Noncontrolling Interests

XML 28 R18.htm IDEA: XBRL DOCUMENT

Related Party Transactions

3 Months Ended

Dec. 31, 2018

Related Party Transactions

13. Related Party Transactions

XML 29 R19.htm IDEA: XBRL DOCUMENT

Acquisitions and Disposition

3 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Acquisitions and Disposition

14. Acquisitions and Disposition

The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):

Land and building	$	4,325
Inventory		57
Furniture and equipment		50
Noncompete		100
SOB license		5,968
Goodwill		1,463
Deferred tax liability		(1,463	)
Net assets	$	10,500

The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):

Land and building	$	5,000
Inventory		23
Furniture and equipment		200
Noncompete		100
Goodwill		9,677
Net assets	$	15,000

XML 30 R20.htm IDEA: XBRL DOCUMENT

Revision of Prior Year Immaterial Misstatement (Tables)

3 Months Ended

Dec. 31, 2018

Accounting Changes and Error Corrections [Abstract]

Summary of Consolidated Financial Statements

The tables below present the impact of the revision in the Company’s consolidated financial statements (in thousands):

	Fiscal Year Ended September 30, 2018
	As Previously Reported		Adjustments			As Revised
Statement of Income/Comprehensive Income:
Other charges, net	$	8,350	$	834		$	9,184
Total operating expenses		137,352		834			138,186
Income from operations		28,396		(834	)		27,562
Income before income taxes		18,676		(834	)		17,842
Net income		21,794		(834	)		20,960
Net income attributable to RCIHH common shareholders		21,713		(834	)		20,879
Earnings per share - basic	$	2.23	$	(0.08	)	$	2.15
Earnings per share - diluted	$	2.23	$	(0.08	)	$	2.15
Comprehensive income	$	22,014	$	(834	)	$	21,180
Comprehensive income attributable to RCI Hospitality Holdings, Inc.		21,933		(834	)		21,099

	September 30, 2018
	As Previously Reported		Adjustment			As Revised
Balance Sheet/Statement of Changes in Stockholders’ Equity
Goodwill	$	44,425	$	(834	)	$	43,591
Total assets		330,566		(834	)		329,732
Retained earnings		89,740		(834	)		88,906
Total RCIHH stockholders’ equity		154,269		(834	)		153,435
Total stockholders’ equity		154,166		(834	)		153,332
Total liabilities and stockholders’ equity		330,566		(834	)		329,732

The table below presents the impact of the revision in the Company’s notes to its consolidated financial statements related to unaudited quarterly results of operations (in thousands):

	Quarter Ended September 30, 2018
	As Previously Reported			Adjustment			As Revised
Income from operations	$	1,533		$	(834	)	$	699
Net loss attributable to RCIHH common shareholders		(2,672	)		(834	)		(3,506	)
Loss per share - basic	$	(0.27	)	$	(0.09	)	$	(0.36	)
Loss per share - diluted	$	(0.27	)	$	(0.09	)	$	(0.36	)

XML 31 R21.htm IDEA: XBRL DOCUMENT

Revenues (Tables)

3 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Segment Revenues

Revenues, as disaggregated by revenue type, timing of recognition, and reportable segment (see Note 10), are shown below.

	Nightclubs			Bombshells		Other
Quarter ended December 31, 2018:
Sales of alcoholic beverages	$	14,802		$	3,508	$	-
Sales of food and merchandise		3,207			2,483		-
Service revenues		17,313			18		-
Other revenues		2,406			4		282
	$	37,728		$	6,013	$	282

Recognized at a point in time	$	37,392		$	6,013	$	267
Recognized over time	$	336	*	$	-	$	15

Quarter ended December 31, 2017:
Sales of alcoholic beverages	$	14,125		$	3,680	$	-
Sales of food and merchandise		3,162			2,145		-
Service revenues		15,889			-		-
Other revenues		2,042			3		166
	$	35,218		$	5,828	$	166

Recognized at a point in time	$	34,927		$	5,828	$	145
Recognized over time	$	291	*	$	-	$	21

* Rental revenue (included in Other Revenues) as covered by ASC Topic 840. All other revenues are covered by ASC Topic 606.

Schedule of Reconciliation of Contract Liabilities with Customers

A reconciliation of contract liabilities with customers is presented below:

	Balance at September 30, 2018		Consideration Received		Recognized in Revenue			Balance at December 31, 2018
Ad revenue	$	126	$	274	$	(181	)	$	219
Expo revenue		-		201		-			201
Other		8		1		-			9
	$	134	$	476	$	(181	)	$	429

XML 32 R22.htm IDEA: XBRL DOCUMENT

Selected Account Information (Tables)

3 Months Ended

Dec. 31, 2018

Selected Account Information

Schedule of Accrued Liabilities

The components of accrued liabilities are as follows (in thousands):

	December 31, 2018		September 30, 2018
Insurance	$	2,627	$	3,807
Payroll and related costs		2,584		2,293
Property taxes		2,058		1,796
Sales and liquor taxes		1,959		1,883
Patron tax		640		532
Unearned revenues		429		134
Other		1,643		1,528
	$	11,940	$	11,973

Schedule of Selling, General and Administrative Expenses

The components of selling, general and administrative expenses are as follows (in thousands):

	For the Three Months
	Ended December 31,
	2018		2017
Taxes and permits	$	2,181	$	2,166
Advertising and marketing		2,148		1,965
Supplies and services		1,456		1,368
Insurance		1,353		1,259
Legal		1,058		377
Rent		1,019		940
Charge card fees		933		887
Utilities		744		695
Security		709		638
Accounting and professional fees		650		886
Repairs and maintenance		587		570
Other		1,189		1,061
	$	14,027	$	12,812

XML 33 R23.htm IDEA: XBRL DOCUMENT

Segment Information (Tables)

3 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Below is the financial information related to the Company’s segments (in thousands):

	For the Three Months
	Ended December 31,
	2018			2017
Revenues
Nightclubs	$	37,728		$	35,218
Bombshells		6,013			5,828
Other		282			166
	$	44,023		$	41,212

Income (loss) from operations
Nightclubs	$	15,387		$	13,371
Bombshells		119			891
Other		(119	)		(137	)
General corporate		(4,255	)		(4,985	)
	$	11,132		$	9,140

Depreciation and amortization
Nightclubs	$	1,507		$	1,335
Bombshells		292			336
Other		104			2
General corporate		150			236
	$	2,053		$	1,909

Capital expenditures
Nightclubs	$	447		$	450
Bombshells		4,009			2,228
Other		9			-
General corporate		2,830			91
	$	7,295		$	2,769

	December 31, 2018		September 30, 2018
			(As Revised)
Total assets
Nightclubs	$	269,313	$	252,335
Bombshells		43,540		39,560
Other		2,144		1,978
General corporate		34,525		35,859
	$	349,522	$	329,732

XML 34 R24.htm IDEA: XBRL DOCUMENT

Acquisitions and Disposition (Tables)

3 Months Ended

Dec. 31, 2018

Chicago Club [Member]

Schedule of preliminary allocation of fair values assigned to assets at acquisition

The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):

Land and building	$	4,325
Inventory		57
Furniture and equipment		50
Noncompete		100
SOB license		5,968
Goodwill		1,463
Deferred tax liability		(1,463	)
Net assets	$	10,500

Pittsburgh Club [Member]

Schedule of preliminary allocation of fair values assigned to assets at acquisition

The following information summarizes the preliminary allocation of fair values assigned to the assets at acquisition date (in thousands):

Land and building	$	5,000
Inventory		23
Furniture and equipment		200
Noncompete		100
Goodwill		9,677
Net assets	$	15,000

XML 35 R25.htm IDEA: XBRL DOCUMENT

Recent Accounting Standards and Pronouncements (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2018	Sep. 30, 2018
Retained earnings	$ 95,179,000	$ 88,906,000
Accounting Standards Update 2016-01 [Member]
Reclassification of accumulated other comprehensive income	220,000
Retained earnings	$ 220,000

XML 36 R26.htm IDEA: XBRL DOCUMENT

Revision of Prior Year Immaterial Misstatement (Details Narrative)	3 Months Ended
	Dec. 31, 2018 USD ($)
Accounting Changes and Error Corrections [Abstract]
Goodwill impairment charge	$ 834,000

XML 37 R27.htm IDEA: XBRL DOCUMENT

Revision of Prior Year Immaterial Misstatement - Summary of Consolidated Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2018
Other charges, net				$ 9,184
Total operating expenses	$ 32,891		$ 32,072	138,186
Income from operations	11,132	$ 699	9,140	27,562
Income before income taxes	8,215		6,128	17,842
Net income	6,404		14,355	20,960
Net income (loss) attributable to RCIHH common shareholders	$ 6,344	$ (3,506)	$ 14,311	$ 20,879
Earnings (loss) per share - basic	$ 0.65	$ (0.36)	$ 1.47	$ 2.15
Earnings (loss) per share - diluted	$ 0.65	$ (0.36)	$ 1.47	$ 2.15
Comprehensive income				$ 21,180
Comprehensive income attributable to RCI Hospitality Holdings, Inc.				21,099
Goodwill	$ 54,731	$ 43,591		43,591
Total assets	349,522	329,732		329,732
Total RCIHH stockholders' equity	159,133	153,435		153,435
Total stockholders’ equity	159,090	153,332		153,332
Total liabilities and stockholders' equity	$ 349,522	329,732		329,732
Previously Reported [Member]
Other charges, net				8,350
Total operating expenses				137,352
Income from operations		1,533		28,396
Income before income taxes				18,676
Net income				21,794
Net income (loss) attributable to RCIHH common shareholders		$ (2,672)		$ 21,713
Earnings (loss) per share - basic		$ (0.27)		$ 2.23
Earnings (loss) per share - diluted		$ (0.27)		$ 2.23
Comprehensive income				$ 22,014
Comprehensive income attributable to RCI Hospitality Holdings, Inc.				21,933
Goodwill		$ 44,425		44,425
Total assets		330,566		330,566
Total RCIHH stockholders' equity		154,269		154,269
Total stockholders’ equity		154,166		154,166
Total liabilities and stockholders' equity		330,566		330,566
Adjustment [Member]
Other charges, net				834
Total operating expenses				834
Income from operations		(834)		(834)
Income before income taxes				(834)
Net income				(834)
Net income (loss) attributable to RCIHH common shareholders		$ (834)		$ (834)
Earnings (loss) per share - basic		$ (0.09)		$ (0.08)
Earnings (loss) per share - diluted		$ (0.09)		$ (0.08)
Comprehensive income				$ (834)
Comprehensive income attributable to RCI Hospitality Holdings, Inc.				(834)
Goodwill		$ (834)		(834)
Total assets		(834)		(834)
Total RCIHH stockholders' equity		(834)		(834)
Total stockholders’ equity		(834)		(834)
Total liabilities and stockholders' equity		$ (834)		$ (834)

XML 38 R28.htm IDEA: XBRL DOCUMENT

Revenues - Schedule of Disaggregation of Segment Revenues (Details) - USD ($)
$ in Thousands

3 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Revenues

$ 44,023

$ 41,212

Sales of Alcoholic Beverages [Member]

Revenues

18,310

17,805

Sales of Food and Merchandise [Member]

Revenues

5,690

5,307

Service Revenues [Member]

Revenues

17,331

15,889

Nightclubs [Member]

Revenues

37,728

35,218

Nightclubs [Member] | Recognized at a Point in Time [Member]

Revenues

37,392

34,927

Nightclubs [Member] | Recognized over Time [Member]

Revenues

^[1]

336

291

Nightclubs [Member] | Sales of Alcoholic Beverages [Member]

Revenues

14,802

14,125

Nightclubs [Member] | Sales of Food and Merchandise [Member]

Revenues

3,207

3,162

Nightclubs [Member] | Service Revenues [Member]

Revenues

17,313

15,889

Nightclubs [Member] | Other Revenues [Member]

Revenues

2,406

2,042

Bombshells [Member]

Revenues

6,013

5,828

Bombshells [Member] | Recognized at a Point in Time [Member]

Revenues

6,013

5,828

Bombshells [Member] | Recognized over Time [Member]

Revenues

Bombshells [Member] | Sales of Alcoholic Beverages [Member]

Revenues

3,508

3,680

Bombshells [Member] | Sales of Food and Merchandise [Member]

Revenues

2,483

2,145

Bombshells [Member] | Service Revenues [Member]

Revenues

Bombshells [Member] | Other Revenues [Member]

Revenues

Other [Member]

Revenues

282

166

Other [Member] | Recognized at a Point in Time [Member]

Revenues

267

145

Other [Member] | Recognized over Time [Member]

Revenues

Other [Member] | Sales of Alcoholic Beverages [Member]

Revenues

Other [Member] | Sales of Food and Merchandise [Member]

Revenues

Other [Member] | Service Revenues [Member]

Revenues

Other [Member] | Other Revenues [Member]

Revenues

$ 282

$ 166

[1]	Rental revenue (included in Other Revenues) as covered by ASC Topic 840. All other revenues are covered by ASC Topic 606.

XML 39 R29.htm IDEA: XBRL DOCUMENT

Revenues - Schedule of Reconciliation of Contract Liabilities with Customers (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2018 USD ($)
Contract liabilities with customers beginning	$ 134
Consideration Received	476
Recognized in Revenue	(181)
Contract liabilities with customers ending	429
Ad Revenue [Member]
Contract liabilities with customers beginning	126
Consideration Received	274
Recognized in Revenue	(181)
Contract liabilities with customers ending	219
Expo Revenue [Member]
Contract liabilities with customers beginning
Consideration Received	201
Recognized in Revenue
Contract liabilities with customers ending	201
Other [Member]
Contract liabilities with customers beginning	8
Consideration Received	1
Recognized in Revenue
Contract liabilities with customers ending	$ 9

XML 40 R30.htm IDEA: XBRL DOCUMENT

Selected Account Information - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Selected Account Information
Insurance	$ 2,627	$ 3,807
Payroll and related costs	2,584	2,293
Property taxes	2,058	1,796
Sales and liquor taxes	1,959	1,883
Patron tax	640	532
Unearned revenues	429	134
Other	1,643	1,528
Accrued liabilities	$ 11,940	$ 11,973

XML 41 R31.htm IDEA: XBRL DOCUMENT

Selected Account Information - Schedule of Selling, General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Selected Account Information
Taxes and permits	$ 2,181	$ 2,166
Advertising and marketing	2,148	1,965
Supplies and services	1,456	1,368
Insurance	1,353	1,259
Legal	1,058	377
Rent	1,019	940
Charge card fees	933	887
Utilities	744	695
Security	709	638
Accounting and professional fees	650	886
Repairs and maintenance	587	570
Other	1,189	1,061
Selling, general and administrative expenses	$ 14,027	$ 12,812

XML 42 R32.htm IDEA: XBRL DOCUMENT

Long-Term Debt (Details Narrative) - USD ($)				1 Months Ended
Long-Term Debt (Details Narrative) - USD ($)	Dec. 11, 2018	Dec. 06, 2018	Nov. 01, 2018	Oct. 31, 2018
Note exchange amount			$ 100,000
Borrowings from related party			500,000
Purchase value of aircraft	$ 2,800,000
Down payment for purchasing aircraft	554,000
Remaining amount to be paid for purchase of aircraft	$ 2,200,000
Debt, monthly payment including interest				$ 5,078
Scarlett's Acquisition [Member]
Short-term note payable		$ 5,000,000
Remaining balance of note payable		$ 3,000,000
Debt instrument, description		The Company amended the $5.0 million short-term note payable related to the Scarlett's acquisition, which had a remaining balance of $3.0 million as of December 6, 2018, extending the maturity date from May 8, 2019, as previously amended, to May 8, 2020.
12% Unsecured Promissory Notes [Member]
Debt issuance amount			$ 2,350,000
Debt maturity date			Nov. 01, 2021
Note exchange amount			$ 300,000
Debt interest rate			12.00%
Borrowings from related party			$ 500,000
Note One [Member]
Debt issuance amount			450,000
Note Two [Member]
Debt issuance amount			$ 200,000
5.49% Promissory Note [Member]
Debt interest rate	5.49%
Debt, number of monthly payments, description	Promissory note payable in 20 years with monthly payments
Debt, monthly payment including interest	$ 15,118

XML 43 R33.htm IDEA: XBRL DOCUMENT

Stockholders' Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Common stock purchase and retired, shares	14,111
Common stock purchase and retired, value	$ 355
Cash dividend paid per share	$ 0.03	$ 0.03
Total dividend	$ 291	$ 292
January 2, 2019 [Member]
Repurchase common stock, value	$ 10,000

XML 44 R34.htm IDEA: XBRL DOCUMENT

Income Taxes (Details Narrative) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
Income Taxes (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Income tax (benefit) expense		$ 1,811	$ (8,227)
Effective income tax rate percentage		22.00%	134.30%
Deferred tax liabilities		$ 9,700
Statutory federal corporate income tax rate				24.50%
Deferred taxes benefit		458	$ (9,697)
Unrecognized tax benefits released		$ 165		$ 165
September 30, 2019 [Member]
Statutory federal corporate income tax rate		21.00%
Tax Cuts and Jobs Act Tax Act [Member]
Income tax reconciliation description		The Tax Cuts and Jobs Act ("Tax Act") was enacted on December 22, 2017, and includes, among other items, a reduction in the federal corporate income tax rate from 35% to 21% effective January 1, 2018.
Statutory federal corporate income tax rate		21.00%	21.00%
Full Year Adjustment [Member]
Deferred tax liabilities				$ 8,700
Statutory federal corporate income tax rate	35.00%

XML 45 R35.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies (Details Narrative)	1 Months Ended		3 Months Ended
Commitments and Contingencies (Details Narrative)	Apr. 30, 2017 USD ($)	Mar. 31, 2017 USD ($) Integer	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($)	Dec. 31, 2015 USD ($) $ / shares	Jun. 30, 2015 USD ($)	Sep. 30, 2018 USD ($)
Commitments And Contingencies [Line Items]
Patron tax amount agreed to pay					$ 10,000,000
Monthly installment of settlement loss					$ 119,000
Patron tax on monthly basis per customer \| $ / shares					$ 5
Patron tax amount discounted value					$ 10,000,000
Imputed interest rate					9.60%
Patron tax settlement					$ 7,200,000
Pre-tax gain						$ 8,200,000
Accrued tax value						$ 7,200,000
Settlement liabilities			$ 4,200,000				$ 4,500,000
Payments for legal settlements			$ 60,000	$ 27,000
Indemnity Insurance Corporation [Member]
Commitments And Contingencies [Line Items]
Percentage of costs of litigation			100.00%
Compensatory Damages [Member] \| JAI Phoenix [Member]
Commitments And Contingencies [Line Items]
Loss contingency, damages sought, value	$ 1,400,000
Punitive Damages [Member] \| JAI Phoenix [Member]
Commitments And Contingencies [Line Items]
Loss contingency, damages sought, value	$ 4,000,000
Settlement Agreement [Member]
Commitments And Contingencies [Line Items]
Payment of settlement amount		$ 687,815
Litigation settlement, expense		$ 195,815
Number of monthly installment \| Integer		60
Settlement amount net of interest		$ 8,200
Declaratory Judgment Action [Member]
Commitments And Contingencies [Line Items]
Patron tax on monthly basis per customer \| $ / shares			$ 5

XML 46 R36.htm IDEA: XBRL DOCUMENT

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2018
Revenues	$ 44,023		$ 41,212
Income (loss) from operations	11,132	$ 699	9,140	$ 27,562
Depreciation and amortization	2,053		1,909
Capital expenditures	7,295		2,769
Total assets	349,522	329,732		329,732
Nightclubs [Member]
Revenues	37,728		35,218
Income (loss) from operations	15,387		13,371
Depreciation and amortization	1,507		1,335
Capital expenditures	447		450
Total assets	269,313	252,335		252,335
Bombshells [Member]
Revenues	6,013		5,828
Income (loss) from operations	119		891
Depreciation and amortization	292		336
Capital expenditures	4,009		2,228
Total assets	43,540	39,560		39,560
Other [Member]
Revenues	282		166
Income (loss) from operations	(119)		(137)
Depreciation and amortization	104		2
Capital expenditures	9
Total assets	2,144	1,978		1,978
General Corporate [Member]
Income (loss) from operations	(4,255)		(4,985)
Depreciation and amortization	150		236
Capital expenditures	2,830		$ 91
Total assets	$ 34,525	$ 35,859		$ 35,859

XML 47 R37.htm IDEA: XBRL DOCUMENT

Noncontrolling Interests (Details Narrative)	Dec. 31, 2018
NightClub [Member]
Noncontrolling ownership interest	51.00%

XML 48 R38.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Details Narrative) $ in Thousands	Nov. 01, 2018 USD ($)
Related Party Transactions [Abstract]
Due from related party	$ 2,350
Borrowings from related party	$ 500

XML 49 R39.htm IDEA: XBRL DOCUMENT

Acquisitions and Dispositions (Details Narrative) - USD ($)			1 Months Ended	3 Months Ended
	Nov. 05, 2018	Nov. 01, 2018	Oct. 31, 2018	Dec. 31, 2018	Sep. 30, 2018
Business Acquisition [Line Items]
Total sales price			$ 1,000,000
Acquisition cash paid		$ 6,000,000	$ 375,000
Business acquisition disposition description			The Company sold its nightclub in Philadelphia for a total sales price of $1.0 million, payable $375,000 in cash at closing and a $625,000 9% note payable over a 10-year period. The note is payable interest-only for twelve months at the conclusion of which time a balloon payment of $250,000 is due, and then the remainder of the principal and interest is payable in 108 equal installments of $5,078 per month until October 2028. The buyer will lease the property from the Company's real estate subsidiary under the following terms: $36,000 per month lease payments for ten years; renewal option for a succeeding ten years at a minimum of $48,000 per month; lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028.
Balloon payment			$ 250,000
Installment amount			5,078
Operating lease payments			$ 36,000
Operating lease term			10 years
Operating lease amount			$ 48,000
Payment to acquire property			$ 6,000,000
Operating lease description			Lessee has option to purchase the property for $6.0 million during a term beginning November 2023 and expiring in October 2028.
Gain on sale transaction			$ 879,000
Total consideration acquired		10,500,000
Acquisition-related costs		37,000
Revenues		742,000
Assets held for sale				$ 2,356,000	$ 2,902,000
Property taxes				2,058,000	$ 1,796,000
Preliminary gain on the sale transaction				383,000
First 35 Months [Member]
Business Acquisition [Line Items]
Notes payable				$ 9,619
Notes payable, period				35 months
Robust Energy LLC [Member]
Business Acquisition [Line Items]
Debt interest rate				8.00%
Assets held for sale				$ 1,400,000
Payments to Acquire Assets				163,000
Property taxes				87,000
Notes payable				$ 1,150,000
Notes payable, period				3 years
Pittsburgh Club [Member]
Business Acquisition [Line Items]
Acquisition cash paid	$ 7,600,000
Total consideration acquired	15,100,000
Acquisition-related costs	134,000
Revenues	892,000
6-Year Seller Financed Note [Member]
Business Acquisition [Line Items]
Total consideration acquired		$ 4,500,000
Debt interest rate		7.00%
2-Year Seller Financed Note [Member] \| Pittsburgh Club [Member]
Business Acquisition [Line Items]
Total consideration acquired	$ 2,000,000
Debt interest rate	7.00%
10-Year Seller Financed Note [Member] \| Pittsburgh Club [Member]
Business Acquisition [Line Items]
Total consideration acquired	$ 5,500,000
Debt interest rate	8.00%

XML 50 R40.htm IDEA: XBRL DOCUMENT

Acquisitions and Dispositions - Schedule of preliminary allocation of fair values assigned to assets at acquisition (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Business Acquisition [Line Items]
Goodwill	$ 54,731	$ 43,591
Deferred tax liability	(9,700)
Chicago Club [Member]
Business Acquisition [Line Items]
Land and building	4,325
Inventory	57
Furniture and equipment	50
Noncompete	100
SOB license	5,968
Goodwill	1,463
Deferred tax liability	(1,463)
Net assets	10,500
Pittsburgh Club [Member]
Business Acquisition [Line Items]
Land and building	5,000
Inventory	23
Furniture and equipment	200
Noncompete	100
SOB license
Goodwill	9,677
Deferred tax liability
Net assets	$ 15,000

EXCEL 51 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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

HL N1-,?T*T:T>YBA5[D08H(OO9Q,E,6%8XKPNP^YAM@K)MQW=K(>0"[>,*<#2L"BV3Z;1-HKD=^U'M1IF)%S'3 M7U-GF@T:M_2?!=SH.4*!B]P,.:OP@/,"]-=,_CSYS\ ZM3*I_(]VX%I)%5:A MCC90EQ\+*,!\3;%M8@;T9^K)N6RYX5KY\(*5UF1E5;6.MOS,0 'ZFSK0K1\* M-?^A'54$!PT**KQ54V%;G87G5E*A]<,O@1V['OW['[(3,)D2=#XM(.?S*R:E M/93WK+D=SGCWBL/3A6VOS]B,?H;\*,Q^P^?XT_-!>N;F=^FOIQMHU%SHAOZX M:6>^/4,^__8T+5Q6]LP Z#S\JP [+;<+>=MDAB0#GPY/BG- ,B9^8LXZ;62? M??XU.JXF2XX,V9S@E=2>J>VP4(.\@2F0$PL3NCS^^61POL7B8]H,?SZ)2%RB MD ]=EF>.>XHPO$J=/8'YRXHWRL&^Z[E+@,RV>Q3 *N[S\/J\MT1,!R78 MF^(B\[BJCE\-D,7U@OAZ4Y>ODE#$S>5?I@^VCT(\'_H.7M))V;E CXC8"Q1^ M31<7>Y0P,8G4M'%BB@L>V.B"IH\KP>]DW*H\KU]C[%(-,[P@1VGYTN+3LBYO M"CM2X. XII>85"L9(85BT[?F$[$/&"+@;5T"@(%I1-_M>=V,]2JJI4IHU- M(4FE?%97RTSW:;1FM_THWNS@@;P/@B+F=T8)=-"3TDK1)0ZCT?P+]?_RP_\# M]ETY5W)9;:2I<8%KJ0,N%0TEL@Z!VHBK2((J@V+FWFIE[M:>84+QID<5TA8+ MLU9>OE==3:0"1-([S0M.E9-UHI6HBGRO2*RB$KC^TDKJ%5H3Y"1G91G^%3N/ M]:_"3NP^DP*A7M$GU0/B[,<6 @^72YLL4/B%ZAK>H3*?8[.JWRG:#YN+T8,K M9[.\]PI>>S]8$:.'6/EH!BO)WOTM#E5XV1;NT3IJ%S2XR-4;V+C# 2Y"3MN1 M? 4E%36?+4450.[T1BBRD\PI9CY$PW25E=;&4#7#8T5%0)[TABEN@D<*-SE2 MSU3-%!!Q52[14[Y$RH"&([:R;A:&](*8:I-,R M#L(+-,<$Y:X9??4"3/A)UJ19TN5$L9;DMM17%"VQNVW+ L>E0Q#F3[&=&P-L MF7IC,!O]TFYT@0+*DG .*!7H"^, <) =O<&4,<$4HG@]LBUC/@>[6$&SUXV' M-#3+HFC;LX=11+Q9'+$CHQ-FHL\.+:Z-&R>)BDG(*@ SI#;CL M(K[R_#A"@CUJ0*#/+!54 'G2&W#Y%7F+)4LWDIP(OHN9449SCC\\"R97-K\H5U= M"Y#$7!3FI[,=!>GGO[5\1WP_]WOAFOB[.M?$69T6K[1P5;REJ_MPUOB")N]9 M*@0O9+>+8X+H/[@D@UN4;0-DC9SQ!>P_[F)/*K2V-5J;*GF:A]U*VU&J:B[Y M@DX?]G5*ZDLHH35:K$IK6Z=5K+0EG8I)Z N0/Y9 3HNWDLI!GH4^#V]PO@LO MJR!K)^VG_2C/4U] .=A%R64F5,9*A-K)B@&FK2^ >[UGPIS@[ZU,M V(8#;[ M L WNP S,8O*6:E@&_#*\MP7D+W=198F"TE%VL"DDNN^@/'=+L9<#7S;>U%24MG+B[0S8DESY!; E^D,L_K\7IO:JHVV5L_))6WY$,"J?<+&NQ- M6YE0R]B4T^\7T.[/8P)7H'4-).GY"\CW)KB28:]EP,K9^@O ]^8_45?=:F! M$JJ]1>XQ?]8Q?]8ZS'0/D?-J@1_/7.0E#-$?=HFAOYK>HH7M)_D%@:Q9M-1> M(4,39I5!!6W?I9430&!")EJD6*+C9%@"NV$ 82M[PRW;UK@AHHEF!L>G@ [#CVHBB0%W21_0VB9T0O%?V),JB\#[%W+SRTD^R4QH-[Z@ MN+[!'LO!54]-WS)I1D.H9>24[VHWI8&'L0H+B;T@5;5@O_5#^AEK\YWC*N.X MRC!TE7$X2T/W'W%Z&^$:DSOTM.TGQ8X!+$K2>BI68^BRI9XR;2QL#B=V0C\P MF@]=O&9FE:5N+"_=\>KG(/-C!7U:62N90)61"ZJ6Z6QG^=70J+KOSORR9F<] M:/GWYP,9Q4KB72_L5'H6KJ>&F2,H=1Q].PR]N9<\=N]0-)I+*4W1N[1ID_ +^SL M%3)TT5T&M1.'L*JI1<^XE!3K_AT=R(REAC;PZ9RZMC9R]5N/CPX7M4J4/#@H ML.G$/"9TIL9QR/88V#O*R 77L%1,)J7A!1VXY>-*L(TA,;T"=&P-T.'N5XLQT6G>Q0E;7FY^@7M8KTVU? A&YIK)D7$EVBU,K^P([LE3\!OM-EIYAFP[C M>&;I>&:I9V>6ZK.4W69,NX'DDI%$S-#S36K@S=RL2S&"IW$RW8K%]%P;4C/P M[J.Z)?H9=S^H#@M&GHEJBJE.,R_^*MV&'1.<\!-F3.9.ID$2!%<3WQN2JT5"+4\.A=%YP:Z5UWP[O):8 RX 2Y MPVB,/9;&G2HE]3S$B;=?JN'=RW#LY[IUL0I1#-YVWA>') MG5*F[XV4P&UZ' +,^?EYC54,NE?.Z!T-&#%H5JW'.DS>E"C#"@[.>H\YEJU] M,I_])4T^"_N6*M+:SC"I7P945 *BL.GWCH1X,)V\W#09!GO?PWLLO8O-'QNJ M7)&Y7!V@3R?N:;,=+QV$MX_:U.R">_682W!]=<"1M?N #/SF:BY$0_](5Z5N M+C(B"L*\J?0X^TY@)OU4(0JS#;NTDE=9R02T$*UGD691H_/IT%W1;X=1DO(Y M2^8EM,O>N[H5[))^_[^L% %_#:F(PR7= MX84U=?'ZRZ!K'Y(ZZ>F/J@R0]J-AQ MA :O6,OTH_F4U%$)(NVC&6]'#YU_QEZ8F%CHZH("9ON[$CU-N^I2!I?]2)#4 MPU(0U>,&RRB0$U9J >..]K%WN)K\_.PL[6 !=XAL25$L:+"-18#-=-Z*S2'+MGA/%>7: MNMO5@FIW$-5A,'4U=0$G?=VO9S@(N?SQCWO$']\=VX1V ML+BP?3MPT&C.H, \,"&AC,$$*&*'+*_W28[B,'V%0H=XZR@7>9'-4CD1@SE2 M@PY15/=A#J!SC&-"O9H0C>G?V2$>*#,\*UQ:UF!#2S!#%M;[:@7MISQSX@2G MB^?T>*[WB&1I^Z6B!G-5304PEMU.Y\C:S69D398 $WQ!AU4/.J>J*&TP*96U M ->9)H4#TC;&_!/E$S5Y&8,)4\0.TF125(TNRCSL>DX*7YFIHECOR"J##_*E MXRSPWF, :H<[W^R=:\U5]'LKJ>IXQ/-XQ/-[.N(Y?+*).Z%?$6]Y[Q0S>Z.[ M5"?3SG1F;U0BE[V91M6V$_,1%N#E'NC%R[9,.AASS;;J!>Z8KJ]5SARV\S4] MF^CE].[&?]JSKG&[[?UO2B;OZ>MJ;IUN_O_9#F*;O$R>,/OO$L>A'; $K.QD M5X20^"" FK"N&+X,458#(TSP'",#_S?9CH0,N$>TU*JT@;3Y^R$N"XJ3=HE&).GCL>K?E5^6 A"!>5"QC/DP@WZ*@8 ML95QC&"Y^S8-3KZ7 #>DD- M%J_B&,P[!O.^IV#>IO<,XVB)V0%,<50/*F]V>$^LI6G^W3Y:68 %EM 3;Y/8 M6T:.X<&SYO@Q.8C5"(?=WN&VGR]CGA+NSW@6#IV(X7$B\9UMD8RNBZ[2'H&K M* ":O^F+K['O_QW99.C^(PXC?J9?>,,5*#[5E)F^BM&%V"%[O]<[JWS'VW:: MW_GJ_5[+<=O.$,^C_TW)9(_GN]BV>T#KB,]5DZ5'HI<:>W<5:M"6XK*C#;RJ MIH!(UGPS>./ZI'D6+U! .1*<7@0$IH.NLVI7#=4(@9NY3?=Y/D?\+/D&.[L# MR'*S>D',WE):IXEV!4Z=>AWF4UA5%S-C/%HSAYM>V]VJ(@VFU KR\HO^#:TGYYDIE*O0/]&N[J12Y;>E4W5CPUY M%GL8S7.A"G&X'BC>?=B^)B=811LSEW#Y3 X^3"5# ^ZZ.#8Y3-YB.^@X$AY%B<[#!4%(NF$-EM=UJ+-N)\.J.H%+ MN89/#EPAQ[<)*_[RY]CEK6_H2).)2J2F/_:6%17-(&Y^[/ZEWUMJT 4/$%S2 M%0W\PG)9N;XY*H :G80R:Y#!QFK18[]PZ8Y]#+%=(>/OJ]>V!]$A!T;Z (?R MU.D,?Q.X:$6M]7(3A#%A:>4N,5GC9'M(.+D8NK2LK2GFFUG M 6HXX'/(A!QFNH7(>;7 CVJ; M2U2F0QN[A)7-GP "IUY:I%BB8Y='8#<,(&S%QVG9KD:Z,95MWVUJC>'->(E1 MX#V+DVCL%.M\8H3:)Y9@!.? AEV.L1T1'+ C_3SM(P]QN!,\ME^@B1 4F ZZ M#O(FLXC3+0ZAG3>Y8+_X4-6GZ8T. M6;\8!2FR"SOT6 *%[)EW6?\ !?O%BZH^38=WU,8KMHG._A^!Z5A*^OJ.4$_Y M$.C2AFO9P,T,VT>W[$#'S':^Y:*\-ZMU'+'#-]OG.^!-H@J5](?7NKJ!FP\M M];GM>"SK:-N2_6%!J !DZKJGOYKI4NS@E.VS8U-?J$78)#D*\LV$Y?FY]O'3 MGY!+E_]C@B)V\]6)5S%_DPCE=K@I9LN9"=; 3)T^V.?_K'>[3&A.F?*Y5>SMHH4[CI]7[O>:2D(BM7 ?MM M^B$+SSDG$S$[4IJ2S M:1>\4HS2-%G%8GHN9ZD9>->?+]'/N"M8=5@P\LQ14TQU>A3ISJ/.J./',_$) MTMUB4TTW\DM;-!;C;'KP 2QY@5>S<(E\7VS)W6(M-.5F3%D*M/'@#6!,OO,@ MM&.NA+9GI&0FW,4(CL -6^\+"E@6E^P^ !(:LKRPKM3(4IL*X()CIEXWXQX] MHB!&UU15MOXDMA/]ZD7+[ 32YVHPI+,%3R("3X,U*IN^-C9_RJ%* M08SK]6@VS^"H'$@H*6P^82!H,QW]*[0FR$ES7 7N<,5"$_^"@LF;O$J@D/D$ M2F"/!M&5%+RPS:T1QLP>XUWPWR74]20Y,N:SYM*GJ ,YT>@_6T+%9 M%!Q._FX^"WFRCM': M'D=KE>[OCY[H&B)<>FLXE\5.$4.CK_M .W' JAE9E!MAKU#W:2G*#5AB8 ,3 M4=2QL9&QT^H\=!\EO?3CF3Q(NBW5=8Q4T%9W(Z1%D&8NVKYZ 7^E*?-,-KIM M3\=\BFRU'S7#[N^:UJ= MQ>NS\A66>J];=1M4:>C0M5F8+,KH2HWB6^/TGVI:?=S5*E\CSZ.;K],PMSS; MV\IA5G#0Q5(Z7?7-49D2B.'%2^Y?,F>^O&G7'#=& MKER:XJ_;U+C>,WO>] 'Y/B+77L"RQ[EW6+)3+)'2M64L[1&XF@J-;R-#SQD_ MX1HD2*1TO:Y;A005%2 2:C^R"Y& @CHDB*4Z3QU9AP0%%2 2:J>.K!_I&A/L MQDXTHH#)H^<(LA"7E^RM+P9JU,D.;A5NV#(X11B*XI&"XMU'?X6VW:, 5M&( M<'!31!CI:#5 5J<^UMB+HG 6D\52&C@N*]KYT[I*K1PK@(8,?- CN+_9W*P- M31/')*W')*W')*U-CM_W>!:'T>< D<7+[>VE< O+=M]@FV%?*T"I'!H5F]P MKV1 %,=B08'>CNXRQ2#J]-X@+X/+?B1(&@)4$-43IY51(">LU +&16W;Y,[( MR:@=?CN=L:X]$D:3I4>BEVOO$?%42.++: *)Z4#3>0CU/H,K* ).;K7O7C5V MXMU!R W9W1>60C7,31'S.7^8&]'E6+HRHZK)#EG7K' ZT!0XKK'K?)"*4$/0 M?&6(W13,$HY,<-K@,ZU$Z2AEDGTB5DT7L"N;-F%>H= AWIK].)JGRKB)@UYI M]A34TR=VZVC629#[P"WM,2(>=CTG;;@31%;AA>W[& ?9K_ %&MN>"[->M\8^ M\7^8CFT$LUIN"37I_LUP*B9.[]IT=:+H*7IH$N+]XDJ@0(00753IC>; MX7'C:2?^-W0'6;#FK%91GTBMI1I$M^8D[25#22*A!]=7.U MM_L"T16:(T*2-SSND"A7M5H%?:*SDDKP_I81@8-+O)IY0?(V+@Y"ST7)4\Y< MK42=@3QLH%)+GQBNKA=(LTE7%/+/[/ +@.[V$I_JLE%41Y\HKJH5',HWK1_G MC)!>6>39W"OU8J"./A%<52N08+VQGK*M>^H(7K/LUFD<IAW5WA/E(J50?D M4F_X)]D1^A/R70J9>1%W.&*WB4?SY-*M[7\A.%Y+W_^H5D^?&*ZC&4BVWCA2 MR?ASCQR\"-C3=S_-/7;L)M$YVX>@Z[K\$-#X]POVPL BZ*"-&W[A;TR0[ZWHL$E>6'1C%+"Y M.1?Z "PN$^N-_=44 <\-:$A^(\@4DWNC)Z?7T.<-@A^*N+8]PM^*8A.>MPB0 M.\'IM!@5#E+ S_B\/:^6::;XH,]ZB\NR-\#87^84FO7(L5EV"LZ*,/N9PK/L MR+*WWS'BZ9]CUAHH-'S,6G/,6G/,6J.5J6/6&I/N/QRSUJ@K!U%8^W[#,4W$ M,4W$,4V$\408.;(9FR;BF,7@F,6@K1'JF,5 WX!C=A:#RZ7GV LL34&S5Z[K M[.4*N0M*,3:]M&LIFT_7;]XHF!/$"9K4N!MVQSP0QSP0QSP0?>7.R.F\'7X[ MG?.;/%]Q:P?L#Q>QY[,7.,M&6_Y8<(N?U)57N.K.9.LV@-J/&2-$$VK?!(^T M/"8*]^,;_5P?FECK^INY2?)='-[[/IN?V!Z=!*XUCW:1'2P\6KC:E8 F/OB= M-KE="[017#2UD26%^?W5R=(.OF#L/GG\Y$6G30^ \=TW2)%=S%S7RUM0#\E5 MLKO>^PS9[=:)_9QK4**3"67E>\2)0 &((;VI+YH<(60)_YK_5H]:1DO*0ZTJ M=VT!.CV<_I[]S\P.$?W-_P-02P,$% @ ZX!+3@BK/3<07@ #Q<% !4 M !R:6-K+3(P,3@Q,C,Q7VQA8BYX;6SEO?N3Y+:5+OC[1NS_@-6LUU)$E=3= M&GLL>7QO9+U:95=7UE16V^M13"A8)#*3(R:9!LEZ^*]? 'P33V8E@=.S-^Y8 MU9G?07X@/AZ\#@[^_7^_[!+TA$D>9^F?OGK_[;NO$$[#+(K3S9^^^KPZ7:S. MKZ^_0GD1I%&09"G^TU=I]M7__E__Y_^!Z/_[]__K]!1=Q3B)?D0767AZG:ZS M/Z+;8(=_1!]QBDE09.2/Z*]!4K)/LJLXP02=9[M]@@M,OZA^^$?TK]]^^%V( M3D\MROTK3J.,?+Z_;LO=%L7^Q^^^>WY^_C;-GH+GC/R:?QMF=L6MLI*$N"WK M_OK\+^@W'R[0AW?O__#^P_?OT?MW_X'^XSVZN+K]]F5-*W,1%!1'O_Z!PMY] MH/_S_OW#^W_[\?WW/[[_\)^6/UH$19FW/_KNY0_O_O4/[]Z]>U^9_WL2I[_^ MR/[G,<@QHDV4YC^^Y/&?ONI5]?G[;S.R^>X#M?KN__UTLPJW>!>3[ELYI MW^+#GGAGY_Y)TZX%'_:D>Y:ST"Y$RI,?K_RY)NS#&_K7@")^*6B?B:.&)"M" MXX'Y+_".H2Z[+3T+!^4FS)MG1*Q[3LOE9>8X_':3/7T7X?@[UJ&R/T[9'Z?O MWM<>^U_H1[_?7*9%7+PN7N*\*9%7YT]?21'?CCG"OGF=JX9 M<[;K('_DE'-25.\X3HJ<_6O\HM./?KF)BWC#AX#G=/ F>==5(!=JT!-D&12?_P+6Y;#.YP69V4>ISC/5WC#_IE+!BJ6-BX$.(D^ M4Y^5@7?I36$YUET#F7=TYCM6XB3O8 MW!W46;9[S+4,GJ#"60? $8M,E;B!+'R+?=4 M4FDY_R(75V6V7B1AMLV2.&RDK)E2&$VNU FD%1ZE]8.M8:S M:ZC2+/5DAJF* NA.+SJBG4ID*"#:T%!3>1+6TQQW>G.)6.D-I8, Z(..>\BY<,S3I[P'0[I+U$O]3G-<5@2 M'-&1]B[.\XR\WF:%KA^:6( S+W-0Q5KO,\G:N\0.ICR6WOL/OT&M(>HL$3>= MNP=C/[),-0LR(X"[I7(9L6Z=O/\M#"W(* DKY!2#*,A%JSX\9_I6[0& P4.Z/.A10[ZJQ MXR?LJ=1HU(//.PA9A0%)<%'T"6KF+QJTNTF,D7(WDU%"O0O$CI\PIZD-?CN2 M""B/LW@.2/1 ?T7C9T88E]Y%2J_O4P8 [T+1L1K+@V,0 \WL->@CYHI[V,:D M>*6=WL,V*W,ZTUZDT2UU807&.C$$)98\,2BP+KTBUIZ?;=DQ3H754V[,82XHZ*+=EV:+Y: M=YNEIT'OLP?Z9QZ$K*N;.7!L1?O6I**](9C_H7-C2K!#IV4@W'-1"J1WZ5C1 M$]U/@T>MP=SSZ0L<)@$_.O_ZYS+B@8R+4#]B-IHX4XHE^58O!CP,U=B1%)=Y M6RO4F*'*SDDL6[.W:8AI&\/; MY9KW?6M,ENN/61;I8J$F63H=V=A793#.,9MY5]QTKL(8B%NR45!CR_YFUB@C M(".M&IX$1XOB+HO3XCJEM= 'RYB,G.K1J@(#*6HMX*C0AN98@/Q*$UI(05R*@94,W=PIN4$Q>;;2W=I3695)4NV8F5&0P%3>(J M)$:IC-$'D*O*UVF8[?!#\+(HBVU&Y(F13&"7@P\]X?[(0X[TKB@K>N+Y=@9& M%(U:^,SA?,'+>5GD5.5_SA[S15@PIJ%F^=A@X"Y9*T1RP\05W??>VU9#2IJV@J%F/RT4OS WLL))@LE5G++< M.Q$+'M7L-)M,W.TWVY'O=IWU>!@"L2,Y%LSO3WEO4%FAQHS'Z\^>GRTNBORQ M))NMWE'(<>ZRLVEH=LG9)" 8LM P$T['MU#DPH706?54%V(T<7@\R(I\[T"0 M%@]#*W8DQ[+YX,^%/.!TLH1,)NXD9$>^DY >#T1"5B2%O-[9H+":@:S0-__#E78^27RA'E@P16M--L% MN,.D/BT[/"2KD\W$(AQ*Z:#*]>0UR1Z*Y XA/9;A[[[]UQ]^,S[M/+<8S[=Q M&&PR_=1) G*7ZUQ%L,MQ/D; $(6*EI#3O,(==ZYT^!KJ/U=!6I.8E!0BYHSNM&J_5?4<04DSNX(?HJS,D]>[_$^(P6.I/[! MSL250FS)-Y(QX4%HR)*DF*2P@:,&#\R]Z'?XC&@?;D>SRV> @I"2F9\8PS9I M?^]+>:\_.&V.)TP>L_:ZMNDO^ =%XS2&)^C0EQWV*P.JE6R(ZCIV5SOETU,4 MM,3RJXSE+"T=:KA*=49 M:-?&$(YF)[ 5M-KILC5&E34+G?T]%EJPN]M'U5;#7-U/JR/97%(KPWA7C(&8< JDTD2'10SL41?G5*TD2-@- M9R]_P:_*V@DXM\I0T!Q*8P0"I TY,X4X:C#B:$3A7N31N#*6=D92K^'7KL0@ M(]5HH/\=B*:7$%+V%PSCM9GO,(DSVM]%%W0\I*G,".>ZX:4TQPH8@$!)0<9, MJ8D*3(<1$6)P+_)84"818W.5!!M)Q4;?NY*#E%8C@\&7()I?QDB8GC08Q$!> M&ON\)(21C/,PX(<]U.Y #74E 1/91@TJ' AA&,@).\$5'%7XZGR-5_=0C5BN MX@23<\IADQ'U"'*$A<[C#9Q.GF(\F>B^UYMML'J=IA M*-!N9:*E/)2+% I(-CI^"ODT)JBR0;613PF]\(0Z/)-W-4!6UU<"=2P>)=F1 M<@0<)-FHR*DT\X(Z@WH2XW.!*]OMLG159.&OJVU '\^R+'*V_D]EK5ZOT1HY M7OJRJ,!H'4QC 4A8%C15*V3<$G'3$U09HYZU%[E1T;/?7KWN'C-9I4??NQ*1 ME%:CE\&7(*0A8R2DGZ@PJ )Y73:K9F*5D[NBG\D&NQJLZ^4S)=WQ$IH !"$. M$SOE4EH]8:Y7U+@) -FP^;N=:'I(/Y(1J,H%T\( RF7,S206OKIR-*F\/6)E MU02*+=?5N<68O@)9?4N2/'A@FJG3.YDG5&9P5;.%G7?M'4!6"-QLHP+9%>"- M,6JLT<^-/91PJCS'16Z0X1CD-$!*2G 0"35 @!&1E):P>;!:73ZL($FA7JJV M4H2 =2\,!5U1'R,@,)G(V:FV$0)N T,UYT&^7:01^\_E/\KX*4AXZ&EQ'A#R M2@?[?PV2O,BM#,*J;PE90(37B"01#]@?NS&$(L@X7S>]Q MB"FSQP3?XJ)^S 2D9 2<]U6D!@#<31W!.^#.+I\V>,TQWH/ MH\"ZU(66;E\@4B 8I>C820[*,BR*T[PD+&$0#.'P&YD&XSY%765 EY)1$^WK M142!$8N2FOR2K!#@^+IB_Q-.HJN,K.A ZS8K[@)2+-<7<;[/\B#Y2+)R;QC@ M3"S$_3QN:@7%"9YM"6#$>1!M8:#$"T%;6@H_R$>M@'@Y&P?GT;<9W9H_CU9D M19#3>M-W(ZBS.2'@RDU M'HPGLB I#JTJ$[X0@!L\H#D:2['%+D>XR8)T./.\I:VL]4IVIBY5-Z4R??79 MV(%1X02R0E9S9MI;*X A07:]Y7.U22F-2?;DTWX&1Q(C0N-F;KV$T M]W5:4'(QE5_5/U/A7KZ$2;[QI[.076T_J"OA^3 L'(2,=.OM :3A>$=?.-'S,S-13,HAS,>TD#%)K MW\3!8YS$1EN=_^6EYHT1 E-RU0)>D,86BJV5>^"U[9/-$N+& ,]A$0("EICU0D!T,2DI:A1$L,#\\7W63IY@&3W05^-,0G M29%.>S0UU4%7)L+ R$;-3=5YL62[+&0[6Z.$&I\6U!I%U!R(?&S=D&__8^=X M/'L9T+O,:46O00O/2J9%PM,INYE)1M)?H",]F \5261(5C M4+49*H*75G:O@!8G^Q[8J#<5V%>OI]>6' E&45IZP@+!H*_C^F%=8#CL%6%( MBJ^F3G%C.@/G*]_6KDN-!B,Q(T7Y0G@WL +74?8J8QX2>!M1&8928,=0VL$3 M."VPO!5QE2Z?G9K)>#9RG(9J;6@MG!YH,E,?'&-2P\'X&C-'84K7650GE_HV MZ&M^'=_[=]_ $-OD31DHVS#3-EZ^@*V6R9LK?8/?\K"XXB@YMXYR6*6:'G"* MND.94J3C@RHJJJ-C*F,8&.&HN4F.J-33MKQ*BO1_O_OV_3NT#PAZ8F9H3T=) M.4N4]$?T_N3=NW?5/Z@;*XMM1N)_XNB/*,U2C.(\9\N.J.(+D+XN@Z/0_V,1VDJG8G5&BW%V-I*0^OP))"P>A:ST^\UJI!(W;P M[S1.45@9P-#2/2Z".,7194!2^G;DBS L=V42%#BZP.LXC%5#/!M#EPJSKTA? M;&8K,+JSIBI>#%@9(EQ;PE!>CS]?>6$)80G>XC2GKO8Z#;,=OLER%@&[7#\$ M+^J]UVFE.-[G/J2*H]WO*46 4>MAO"4[Y4TI**L.Q/;+03$O"(:>Q:F9]1S. M]Z38;C(,:^5.R4^^@'=_?OW33]4H$^1L^%.92.2J2 M?=V,,6 \DH*8>' K96MQM+B$S1;B&@VDTQ153WUI=3SDKMH&6Q0%B1_+@@6I M/63#VAC$=:S"_3JSMSP0O0,\I&3H3O,-=9([6K@NUA2F;MXB4IA!.EA@V'V3 MVL#2J"5;XSX=7]"!J\;A@NQ=0):$9VJ-^&+9'28\%[W5:J[:V-\BN:E"ZG5S ME268@<0DNL;5]7:M$Z(LJ_L0%NU:J]43$8W\R5!5 ;7\QA9 9:>@:92;L'P. M5W;7?/U^PM-H#'S+;4C<)+4*#5IF XJV$JNV7^#*2WUYC[65;Z$IKN^Q- $M M.?,%/BK=0=YJGCC,L[+TM"$]98!G809&C/9<]3O9P,9UP@U9QD&=UL*3Z&R& MQ:4>O"F@<$6E';9)!05IS#;AMD4[$Z^R M,@S50-^S.(&DEV+*WG&Q6@<%HS,10.-?!]0#XB35T1_.WL&8! M[K4W5T5%*3K;'398Q)%1HL;5A9@I'?)+J"'"OC$[2IS+DL@T$! M,/1Y@?<$AW' HXII'7C.3-',7M;9U&) MK&?S5HF1./R5"^?]AUHV]]?G?ZER-IUO T*][,<@3G/Q BX-SH5$C#29,)0@ M[W(P,5/<0EEAT=<;AOX&4 8_82YL.V?VO )AM?( *RY?14\^0,^ +CJTM>C. MH)KJVT=Z$8U(52J;#@94. )!\0HC!D#L,30"RE(@PKG-TFQ8D?H],"Q66=BY MO;?/LAK#2_L,1M[[M:E,Y?U<=9RJJ+\Z<, MW'I.YX]VZ(R=_3RL&8[[BBMF3H_\9YIQ;,%^"-)+3VM>^ZPSG.*U,K><$NW^ M95)2%H4O0,%T'7I^"BVQ2SOJP2SZ^K&R #(ANB,9):-9N^D#W![2'!,;GL=L MOH7EO@1>PE " QN0XJ)SEF](>'1 .4X'L(=6@,U#\JA2HP)A>3X9M0FZJ9(*AO49)W:XJ4XU!$,X3:;8YMRR M8:5:#7)?V'*:0SH(\#BVK7&-]2FA 5Z-#<]@'H.MB)94 4M[)#GE2 4UE30H]9CG63B4/( ^['%=6INPS; ME!R32P&@5U,5+12K*N(+T:R!/NAA1"]+R47\%$75>&A3YC93Q7+-JG"59,^FT])Z$R\)133DI:E% M)'@P*K,@J4XW0H>6S AQ*_1S8P#M@EU? MQY.BR_:F30&L1RK<\9KT$1_(:#'[""6#>2F.6AWA]/=B]1.ZNEG^;86N[I>? MT/+N\G[Q<'W[$2W.'Z[_>OUP?;G2O4 0-FH_@&DJ"2GH^[2+Z+_+.F[E(;O' MK%WB! \V71XR2_T9O-0\/^7VBLSY'M;P?LWC_PZ8EV3&RHDW>[8_Q?8"2?-C M['!<&X&5\7^%;.BPKW\1/;[V3D<%[<_]"..=O:BS:D^+V#):N3V^:U6%X1%> MK0D8?=OQ%(_RUIG2!S%=(?T$3$@7.X?*WLYE>A'G^RSGE^8NURQ/5I&_5SP- MDY%+T=E5H*\YO06T,!PKMF/A,8/JU/ WB"W+!PE/SA)P(QC"J^)L5S@L"7?# M5T^W\>>4X"!A>;6;6JMVVRR-G6YF3JK08&_3RA*:,">Q'@NT _(3$DRDU25A M*&\+A*'3?L:&Y?HJ3@,ZVD@W+'\2RYQ$7\HP*]5G'NS-G8YY)U9J,(ZUM 73 M=T\D+(PW>^;,B4;XL4!1;<03=+#L[;1,S+-CO5FVBA0=S5CBG@Y\Z\''.1]( MC&IM CM+UF$DW&;L4"*AN#PKELK!'Z$&,'Q9XY3K_%L/V0UUM!NN[!4NBH2O MN1K&(09;'T,_J^K(1H!:0RCB.X3T6(O,EO6Q<9J7A+NJO#69RV'=!:^\^.7Z M@GK,RQ'E>/,S;VEFJT'/*00*/I\:P5$OTG[USW! M^ZI(1#UMD$"Y/9;._^G -<<7N/IO;P'K/-C'19 8UDNG%.#XU-W$BHT.XEE: M@QD53J8L[+)LZ;_8W3UI?UF1S[#YJ+!W)3*0)4:QRHNP&OK>XQ#'3YI+6.Q, M_0I671F]5$4[**[U ,["[*4&LG7R&@E5C.RT=4I_31P'6-KXE9^$OEYW/0/X M@A/)BL>76P14A=VQ444<-3.S)D55&O$,0]62JO43L2O,KR:G5%@O5IN2X*MX M0BTDU]XRTS:M(N_C,YZ^#-*RNKJKH$-TYOU9$MHP)"5]=-T 97*_HR\,QCC MIL)V(P-=28 'M!/H*X<-^\JV2D1<6?='MC!$;Q]-]>9P+*CQ=&^+F0-W.GP: M;UD\EE7L!VCY5MF'9@HCG5PX -D?^$ L7HF))8/Q^4>MCBF,]/KVKY>K"6&D M3O,2A1A'/'_7*DCP:P=U=L8.LYC9%F14=BLP0J,8*VIBL/ORK!* M4@TQH*5?M>MFGZ7;F9&\DQ;/R+8@7R*=5E&5:.U* 2GB2=3UHFXWY^#I^3Q+ M$AQ6 12W68'-"\;6UKZ4:U$EE5PUIB U:N:K%V;*;, M(#=;C@_9(OQ'&1-, M2=.A3?%Z1ZO"\GJR +6])J)A2@%.53JY8@.A6EM#6ZZ;S%P\&1#QZ%A^+F!? M&_.5"]Q8 I7N69G'*;N8F%T)5)V3K+]1'9F>5H17^5I43BM@C3UX"9NYBRMO M].LJRIN- M0U]\NZXCX9?KFRS=/&"R8]%\-M-HA:&W=0UM193K&%(K,(*UIJJ?#B;4X+2@ M%OPH! P1WC?AHKF5]-1PEX(SD>[+3(6%-@(V\!2458-9<#I$71GCF@T3 8V= MCSF9L1JRB9C2")KV; D[BCA7G8N@-=\&.?6\#RQ.HR2O/ /7J$YZJ+O3#7JR MW0$&.0Z*0BPX"IZI1K,9=U'C4;^;7HD)Z\SYBJPM\T,"CZ,5-4 M=&S\P&@#A2:A4)21>$-GE'P]\"CG MBV=S/^.KU>S?(='2LWM25<7@KL9F<%5HHBSF^\RK*UB8#+^$FWLL5V;>O+0# M=6WN;>MO7\1RM)JW<3EZW9B"6XYF%67_Q_8ZGX($\S->[-T+Z;O-MX_2:/A! M#WF'22E?LF P[?H(8#'^[1_,+$WW?J M%?;\O5T5 2EF\PV'U5^ZZR9[_='B 9U=?KR^O65;<,LK='=Y?[V\\)1%^?]7 M2G6;";K2ZF6JG4=YJ?\DK5[2SZU4ZO!FAG*_KP*D@Z2Y". Z76=DQRMJNJ3! MUMKI?0W3JC2XNL'.%,S>\32^4JW>+:XOT,7G>^9!*V&BJ^4]F-PHU0H&N_.$ M3A<53T% N3WI+*4X/,(\@(!1CYR7F$&B0K61CL&N.H0<5@EY6+I0*&JITT#C MW"08$>CX=+R"Z.CD^P@%2#D*:J)XJLSO# E#).R6=.HINZC)-&J7K*X+O#,& M#]K;.UV#G%JMP1*DK3$8 4YE+"PV9.EI%;'=Y@NA\#0/^(&Y8<8T]&WM5A_Z:]"]9BM&^*00]5J4XU=_#^C-*> LI5TG M.Z5#I7V>E(^YXECX)$MG,II6E59/=F8PA#6)ZUAAW+@ZRLVMV1 GK"+.Z7@G M9"4<[:"W_I8&.X%IP*[O6["0D1()0SDF>IK 8&?JJ-1==[:7+S@LV1+8 [7! M.4X23*JE,!SQ7EC]?MB7X-@W3:W:R$?9FL-0W$&<%3ZK'4_AIAQ4L().JY+J M"$L<56.MF>1YC]M 3NVQ3Q/8F>B,A%M]*9$PI&2B-U9-@^?W_1WSF*="&?7$ M@,=AL+3=?\M(L:W.!.SZ*BY(^M>LT+%D^^;.RH'7^.^;[W,K8(5MSM[&/TRHUC :S ML_6NRP,)R_=EJ">KLB'0,MB>7H;VS8G1($5!3)]]L 8BV3J;.W76=UD2AY*+ MZD=/2&?@])Y2(_'!S:1*-!CI&2DJ$O&S\55C@7YN;/X+AKR:)&<7. ])O.?Q M8&ET%N1QSO+[TL%E6O HL0?\4IPEXF'WMQ3D4HZ'5[0OT^FE@)'OP=0%'\I, M6+_>-X*AYNZ-JV]X8YDGJ<0NUFP/1K4'D-:X MX>;>/S9*Y:6@7C'@?#,=5/?Z')*E],^PNO>5/H6Z+NU5,1S#=UD3G)N\]7&* M=GM\]G@/8WBP]NWE@GE;CE@9<14@9"N8O9=I5=#7*"!1]3H-?PW&"V3C/$QO MRL0RH'4(6NU/*@",R ]A+:KY*<[K-+WT': =P=]Q0-#U;A<4F,1!@C[%>4Z' M-AA.YFG*&:E2D8U4[C M*]$KLZZ6+1I[]$P+0$T)X(8OAAJ;'*^].2#%:MVMK:U3S3YA\ICE^.9PZ5KX M6F8^UT;2"K,+,G!4=POF8XG65LXV#^RKT.XAF$V\>[YI/,>J:0R;$2?JF3I7 MDLI7V9L!T)+4-]G:0/%)$_FZ5-5Q>DVVR<9.DR=97A)L&-2IP"Y[1#WA?O\G M1WKW4U;TI'EG.S2XP5=_7]\TTE)@78I(2[>O(2D0C(1T[,8*8MA3!D878/;' M6:J+XM7@=,8@ESJ1$^P+9(@ HPPI+2%JF8/ ^1*>:GF;)1$F>46118=TSL_D M7R;8.\T ,K5:@QP@ML9@%#B5L3!TZMG_%E4E>,JA=!F0E)VMO<-DM0WT@PX5 MUG%N(HMIMI&IX"YJ T0M$#:3=CHJU3&+Q7W\30+"P8:FH3 MBEA/D+067I*YV$V5-' PJC)S5.1YH2:0ITZ2>IGTJKS)=TXM!)RHM?YU6@E?EJQ-/EBK:Q@*7N$-XW>/]QGA&<(, MF4R5<*<+%P;2@W4*!1:,T@P$Q0T<#DFKT,(,C!3MN5KJ$ M8ZJE"T.OS/UXK?G[+/ZG]UK93R:=6AA3H>2;ZKP8'1Y4$E@)/TF^N*1WJX4 MOK38*V<6H>>DZ(F<_FLL99&.,UQ<]U D*R:LV3Y \]V MJI#VX<6X$/5;*\GD?&@9WH7\1N+"\E&YVP7DE1U I&7E61)'?)#0EH>Z F'X M;OJ.!9L-85=5T]=LN:[/]6CU/-'6:=SZE.H,PMAM#+W+]1"V@D9KN3.1#LMA MGW1+\<3%FGZ+J(OGSG.D39TEYAOD+\$:>8! E](1?1+DYC-A\MXB?, M4_CE!E4>ITAWAR^/4_GN8.;;RO.NY2-60J?NNMP35)?,IX3#LE%3.#0W/=Z M[FTGG[W67]K[[(FE^7'@!U59[LTG%>7]=3@.?_V;, Z/ 1>>(%G;7.%]0%]3 MG+RRD=T':8]81?R',]S7/%[Y8%[!&2HE22HX^ E^<7CW$_6=NV'_1U#,?P7&2_NTH#6+J0OBZP_7NSWU(:PO5CQ=.U.7+\F4RO3%;V,'1M03R([% MVIBBN$6BRG@'5LQW%0Y B74I-0[6O+ D,C)#4W,:Z659.C"LE M/T$IUB;[F/.I[S&;#*>;9BXL?>9CD..#\MIGKN0FO^DH:_ (6\S^73SYJHN\ MR7+]L^]@$)^^A)WB^"5/5UFW@B'<:<:GW_%M4AC&:7?1+Z7*?_$)%]LLJBZ#YSNULE9U^/. U.*CU@H5/O(?J@>.J# ="9Y1 MB70XK/< P"@UI3S$F^!*IJG_'5"@=_0F7)!XL>RJ"[KS=#]^?5//[$!_8X. M]G.66:+.* ,DDPR[VR*4-8P4"#^'S)"F,L]'W5KTU:P:!9VB1V8)I%4NXJ0L ML/0"*P44?LN,B4YIFZBRA3'MD"P!-+-^^J^DC/B%282G?.UY@X=,?AI*N=%_ MY%]Q?(Q\CDD@M?H&T.AT1$AQ[3$'>7J88O)% MZ;ZV@ +TD#7DY ^\&NOG@[21V&?:2+$&Q^I]CU,RZ,9^4X7D NE+X__YES]\ M>/]O?_0KD%YTW"*-[-Y9DPV@1K6F*F^NI!?ZR@*L +W9AAM*+E]J[;*.@O[_ M2+F-.[D8>!/-MU1BKJM;Y@OM;X.\ZVUGY<#-QM1W\+ZJ,J9H_;&=4TGN^4;_ MJ@A(H9/E!-[B&+H.OD_&P?=A$WR/'O$F3MF"R4QAS7KZ&1W>1_6Z-KLHD8[U MQW?('UR*L^#EPZO8QBM/+\)[Y_@VWA*I=EC4@+\ ]UE[^BZR[I#76%((&)>J MK*"UH#5=>SG*&ZS@=2TWL.LU+$E UZ(?B2K3C MJY-UE$>7),N@8)R_GI\8$E'#0$EG%20!H7JV4HX ]B +2AMFN+/YDP7IMHO38+TK MQ)*@H)$::@ZPC,XHJ @64H96C@A >K< 2G("LYGA/.N"PMR8L?$ M8$P",!R.=B)WR.0/T K*Y FW=T%-83E6UN<4!X0=^R2@]D#X81(Q(8B^0S,9 M.3_Z8ZR < I(:0%&9%8TI6>#? 7X3&D$=<7<+L44;"M:MY1F)BHFDZS651*[ M=94O:Z'L>[>M@\G;ELF^?_LR69T,ILT%LX">"X;/K;@C4$BZ#W#IJD5B?8_0 M?0O&!0N4A$ 6!N!S!SI5W<50,FM^"LBOF%]^Q%(B/=%9=)QWIQP5E349.H.L=T!T+L7)=II2@H]Y4$6"CD4RCZA M'4W@NS4W>!,D5UAP+Y+O7:I$H#6(SVV^].Y)5(S&C$O+(,Y:+9=C<]%OL^QU M;"K[*8C3 K/K9E1C.BM+MQN4UE49;E,:ST 7IXDUE6&=C6Z$36DCVXA-^RL.G= MLA ,=]9L\BPZO+$,/Q;7*257LCQQ5T&(%SO67RN>CQKN]%XR ^G!560*+)C. MS$!P+#$&1W&>EZS?0@&'0I32IZ#@TX&+H%#U5CH#?W*2$5<+JH\&*BD)1:FH M=C4.L5L69YJCTO(0LE!=*.J$(" M=B)-EI1[JDA^UV=TA^G#2HM@8^=4] 7X3%G>T]5VB!S! M*1UM:2G$..+I=NM[Z_FU]8RO>JU$8^)XR$N^(R0[)EG M#^49N)LC6WMF!T-GJVU&B@=,=F=!^NM-%O#;P)GGSNM#(*HYC-G.Z>D5^%B1LXK!<,XIR'=D8 M.!N-61%O!V9:M'?)6%,45RUK&_18&;%+@(ZIFCG&;A6]@S2J_9=% 73F M?;1$6Z\C17G7@Y&:<%"PQE:W^O%[QF+ZG((UD*DA]9'\+HN';,%N%B2T4EE4 MAFQ15:J@"79.1^"VU1@,PTU&WN4VE:G@AK+GE'5G_,ZP=4;0OI(CWS@^D@X- M[JAY/]KNMEI#>3E4K7RR_^",; M2\517WD 7>"P;Z]?-3;Y4/D^G8&_,9:,N'J0U4=[EY\U1=DPZP2EY>X1$R:L M7986V^2U<7GY4<==LZB-9VF+P[JN=L]E;.-1XW:5%8;N>-KM>]RXX>BB)"RI>I5$E]WOH_)V-H9.E[ZL*R)DRM=:@=&B M-57)G1_\>C-FW_6W5>ZL@@X:HY/J)B<@41*Z>OZ5S98.>#ZU'10]#JIA*T=N M]$6HL<_T #'R*;&W3*^,'J_<1?P41SB-VBO2SH-\.Q[.3[&#DR7T(-9"2U( MBFJS:D#?7@H'PY,T=:IN1FKOBU7U]2JTTW&4GO)@!"6'@O$0>G[R.ST:.<'0 M3[.\I-'Q3V>B:_G5![ M!W$= GN&4[R.I=,H!11>5V,BJK@KN0A>T->/%?:;)IP7AG>X7*\Q7VIMJ\;B M;60W2RL>R90"7'J+Z14;W(!K;0W&>TRF+%R.VQ30N]2;!U&Q$5$=> 5#M!=X MC0GAMRSU4I(I5S_D8+<+2SK"PQ4E&1*,R+3TQ#6D"LR%9)D(SIV(>KX\V,4I M?S7,$0A&*Y>RLJR"HJN5F8 1FAU/37]+,'N 5'%5.CMP2^5R=WT_8+THKC"[ M]RAA\:\E)?(Z $_J"":6[+^K/NA1F/OP2<6">1V.5Q&DY2TUUE1BC6W_!XG++>. M--K!:.(N&XH=^2Y'BA[OW3-,("EFX>ZL^,M=RR9G,>W<<*Y$*W5&V6I-(R[X M:LIR]QB;0I#;)/Y"EU-DU X6Z->$3R9 M\* 0]#,OYK]FNW942?\F3O%U@87HF EV#J\6M:]&[S)1LQ$,N4U@*MN>TXB+ MF2-N/Y?"VHLVJNBRQ89@ZJ"SNV!\7841[2X*T$BY"_Q30F$HQ\A/?>%)$]\7 MV3&/%RAN9/637=V$><\0QN61C)96?CJUA34 M55W;" Y,13J.YBXN:NW,V\1N+Q?DJ7H?@_#7!Q*D>1"RQ:WKW;XLV/I(EQ1 M%=,UI037EPY.K-KX D)+<^\Z/9RSL*)?(8^;U<'DYKI^7OO^]6'N'9I(4O1B M'<:[) S$-/ZJ&SG!<%%L^2Q(V.+9QR!.V4APF?:5S$(*KY+L^2<<;7!^1S"M MQ"(,RUW)$T;PY'QTAKHG>(O3O%W3EPSXG?RB2Q?HX-'U7>:,/^?]?7)71_%. M8GS*WLL-_3T8;Z1X/=TBK6IF#@^QM/5P';I==?3W"4H,P2AW"EO5]8),AT<9 MO2J'!*_CJ;\Z"9T&['!X8"#<&R0HD-X%8D5/'#"\2I9:("6JNZ&"WO"=^JY* MAMM?=!9.[X Q4Q_Q>7/4?A"J'6HJ>PDV.%\ZK27_+CO\NUN!PI>VET M:'?I,(V4N[282JAWG=CQ$])D"J>U>\O LUU?,G20MYAZS68(*-W(U1LXO-K$ M@GCOHA,-&H9<;"B*"_%@)VP[K8^;"](UYLX77FS(#_,1*_&>U?: M!)(:K1TQ'%LU=&X/#;" D;S(E^NN!Y6.^/0&[H;0-L2[8;0.[5TLUA2%X71K MPWQ1R*S8'TEK!\,ML66*+KKC]2+84<;Y*BLWVT)WS-["SNGXVK8:@U&VR3M:JJ"N.U([A M8"1GYJA80,AY0J^$V?2F>=I.Z);!?OH<6XZXCJ3C(\S4+E?FF MRK>=M><7@;SO]65B=Y1XL4BCRW^4\9Z/_:,HUIV8M3%TG.#=LB*C-.\&*SB^ MP):JF!QD'[.$#GR)AT)+,.F%/L5IQFY>:2:7R^<4DWP;[[MQV]GK7:"9G4TJ MP:4<#ZA:7Y<3S,$(=#IG\7J6E(V3Z"\E+#M;UA0 ;!7AHL2C&Q^?"SU]Z_9(>(#B_& MZ5K5@94 MNWF+"AHZ?DT)8+1Z$&WEX"#H23B*\WW6_ TM79$VASR_Q> L2)(L2YN/Y%>@ MO+TX,/L0=H5X6-9>$KE9(O"-O9@U'H :?G66=BW M:GIS8#L:O4KVEL#KV")^NL3^*2D+\"Q90\4,@E580Y:KGK)FW^VT"1/C)X1@ M*;4?\$,'U5<9V07W^ FGRE-!5I:>=]E453%LK8W-H"U4VU,6+S_CWP(37^_E MNF^3K5]'=*(6KV,6:U9%4C2[A72>U\^#DN?E#D=3Y_F.?MNS>NB@S5!:/J9V"\T;=9@7-*4A-1/(2X?#]DY/HR[G\/1FT24N)Y MAH(%D568N5*K]&A4.Z,CODJ4NU0J2HI="A4!XKV=];RT37W"TAE3[%PY">AP M-6;7B9%7MDBP3-E"0V]]0581LXV[S 26]+OD! 8#&%*Q9"G)0]B8\5R$;,FG MV.*C+_LHM'3,/O,F2-D79V6<1'&ZD2;^G_?WG&G8Q6-K]3_GC\%X=QS44,C* M0&&(_=]C#80Q3COFD[A.Z9R278KG8+S<^ZTO=68E/*ZY9E+M#WE_^5S43@S+ MJ[_W%"SY/WPR#BYXTVVUQVJ[*DG*4QYP7X\;_/]$9U_0>L<4/&'KXCB_]N4Z M?.&1S>?RVY_Z'^KTQ_63YG;8[?';[[V _.Y58!X!]; -TH]9%CW'B=L64'+X M\M]3P^.=_^U5$/@?_D[K:RWD+5B>H20.3>FD9Q1?$V#S$+P8[AJ0(UT-HGZH M&C3%&[;[K!M$&7CJ+M1NDZ0"":0\ID2UQ_CG^*$OU86J#_\?_U><.L."A1RY MFGYH\P;?XV++-^[*O$DWSHM!(2TG1W'*E1^AJ"3LP %#$KS/"#]^ M4&T7>WDI;"ZH%UO/YE9[6&UJSUC(G]J9(FJ+!L:^VHR=!60C]"8-N<*C*9'@ M6D=+4](D+1[5!EZ]73/ANL?M_4OG])^QV.4KD;!:Q$13Z.ZK6U^HVZMODD(9 M02&W8"%QK,_GB8W8/_ _RB"I/FK I!V2L_B' .4%">+-EMWPD>+JBG#MF_:& M"(@+ZH]_O<\>RYQ=0EV0^+&DIL/W:?!DM'AG$0@VM#O1:<# =&=F*BQV,!-4 MV:">D95#.(YPKM/02C ]G ^A"#1E FE!8(4Q9J@3Q FBZ&_GEL)53/*"A0"J M52! G E 0:YM^]'WL)I=3DX8C#,48K#Y6SH/@^3A.7O89G2DST.-'IYI#5YU M36^R<:@%._H]<>@-H*G%BJTH'V:&/KS[\,Z??I:IUGM8F %0D5 )"R&U-E^* MEL:$U7)Z[UQ.EVS4C'$Z04IC$W\RDI-72VB(!RX?*5FE=-[_P>M\]B-.,0F2 M\XSL,Q(HAPYR&*R&T'(4DBY48-2BO;;"=1KA7>L!A)6ENBUA3U;+TVW9\7UW?;#*?QBZ*=Q@!8C:)@-VX!"D,U;NZ>[@;3 MUM8LRPR_=]:'R6BU;=S_$E;[2I@)!R0X9/9FS8)TL2&8WT^H:5T9S%TCJTEV M;2UB@#6YDJ!X86F0HA8ZMP)N\3/[077;CP#NCJW*B'4G5OO?PFII&34Q6N49 M\7:>OW7_GI%?NXM+M>TLA[IL<1W9?MO+<.!4H"$ITP.#H][MZC['3[=LMA0F MY:-J9W,, /;PY>R$I]["9G\/LP+_E"7:(92(<9HB0$9OD""@#P#6W')VLB0! MJ,*Y:.\F<0%?>= WNQ3J)4&$A*PT2T0/!T\+:I+RO!$U''&\!C*DJU/$$,*"V!CM1QA2RG)U#*" )2+C:=!);>)<+)IS MB6JL/Z&HSB&J@,!%HC]W*)'(JWN!6*]Z"'"/,K%; 1EAH8O%;C5DI!?'BR+5 MKSY0_"35# P\ZD9"7*.<'AJZ=D2J5NKA9A[T\YQ-4D\']ZF=,6F=-V, MB-JIYCESJYD)WL:_G['U,%^$;YGJ55R[DV>BS# M%\=@Z-J9&,I82\=U1&/-U3JN4<3[5(Y=C.,8#%XYT^(=&^4X#GLT)1138STJ MQEHM7X92IJO$N4#L QY%O$>A6 8_CL'0!3,Q$+(6C>MX2(M<+FN:KJ^H6PV@T?5M;0.#:Q) M+:B.V^YA&^<(UQDZ"=Y38KPI]VU9K%7791JQEEMGA%\U6;?H&B5M^7/=IW9' MXAV^2TI-'RA G/6""G*=>(;? Y.+E)SPL/Y^2BD*V%/7 M4!2>?8T%<2?E/5[':9"&U ]0OY*EFP=,=JSO$%I!B835$B::X]9H\#A""46? M%A3.^[NY7-\]9E=<\DFKVOE)0,[C?3E^&W:%$_KEIKXZB!)< M1+LX9?>0!JPOJ&_/K9@^T)'V&74IOVI:^Z#RH$K@+949ZZ(IE8UCZW)/4'-C M4Y!&:%@V:@I'/S_49W5?"L1_8*[5GQ6FLN'N2>W_18PS]Z^BUXEP! "F*CD[ M028<9G\;Z(Q/NR1Q\5K+4/:P^]^#>]82E@>H*\!A@:-%&+([ MR*]3.NG=\8IIO*W9!EI[V!(6VZBR1+4IZME2S^C )S87BM!!>_"M\0TM_SA\(#O*2O-X+]XOV>!D(5NMK&(XE\/G; MU;<-&-W;7H'Z!B7\+2 D2'6=PACAK/7EU-IV'WX-J\6EW,9MW8#\CI/+_3ZA M4WDZ.5QA\A2'DNT["0;6XU83%#K6&LEGK'F-]3)P_ES$B7RWM/T&UD,>TQ)< M5_/]7 N\GX+JW&KO6F]S@FD+(V<.S;H"K12,%K D8DMW+!UJA_YPPBY>_\&O M,PP2^EC6BR3,MED2AV?X"1/-!IH!#ZMQ[,@*#I-9L4E(:X=:0\\+/-QY4XGI M8G^D*&#MHJ$HS@LYEO=> &*#Z+/8!CE>KILAZZJ0K?LX,O PF[K/',B\N4TPVKSX-&LDW>MYE5A8VC$3%7MA;N%:,C]E2?+ZG&71:IL] MAUJY**'.I&(@V\I$@8,E$3W)L3Q:-&K@LSN3," )+HK\/'@,""X^Q<$NUC@3 M'=R=,S&3[L5G*+&PE&(F*L955!:_I4ZDLD'<:&[-7/ZCC/>L+HLTNJ$#6$PG M=]'U;D^R)[[QI%D1MC9UIJ6)E6EU96D'2V/32(_U=E62-"Y*@D]06Q"?3[9% MH7Y9<\N097?ZG&IWI06(,UDIR+7R&7T/2R9RW<0A"U31 M]$P"QEUWI*#7]4$C *S65K 3>IOE&:IQL[=WMBZ>:7^F:>T1PEU;2ZEU+3WX M&E@[R[@)K5R#YF[B"T(AU3*,NI4E(&<-K238MK6 @-7<*GKC%NPQBA9U\??<[N"#NXRG:! M-6NB,IB[=5 UR6[M4\3 $H*:H+#&^9RA#CI[AQ#G/,P55Q,3C0A42'==@Y9J MUS](8;#4H.4H]!0MN)KQS3_N9[MBU^FJ?,SC* Z()K6N$NIN9*@GVPT1Y3A8 MNM"3% :-#(VN4]3AYQ]);,HD((M=1KW3/WD]=&,))=CA:,) N#>>4"!A2<1$ M4QQ3<#SJ&\RMDK,@83MT3=X,M4(40&?JT!)ME2%%P5*%CN)8$346M6E-YA]D M-K%E#SB]HURT(TT%UN5P4TNW/^:4 F$IP\!R+ [:?.\00\V^F_&"PY*=.UVN MZ70'$W;6-:W_7JX7-H./R46XV]TXK'+=+LUB*.XS\6(AM*:@VY5L>5)?- M/[,U"AR.?%B\P%F9QRG.-1V:#.5,=6J*K;!$""SM*/F-Y<'#-QJDH] ?]IO+ M]:RY3;^$Z ,A ?1P#I(##THH55U4D$-73BD0(=:D9#M'\F7$1!4XB:HN3<-\6B%CRW&A91F13Z$$(!XDP!"G)MVX^^ MA]7JYPRXY@LJXH7^$-JX+&!ZB@[AR!GFSG M#>0X6)+0DQ3\ D.S\/ <1X&26\789%&/&6 -HF#C96[H'#K*G1QXD83 M6.JRYBM$DW-#ELCA#[/O"B=!^.LJW-(*Y=4-)'<4R=9EL@@GFDUB*SMW>\83 MJM%M(5L8P5+4!,;"!C,S/:UM465\6ELC;CY_F$J07.:TC(H<"$LZ!I9BA IU0!4>M:,G!X>8!)K:&%B3A=,C3F;J@Q-/:C@LX5AQ ME9Z'DFC(3?!L0>+'DM5GL2$8Z^?N6KC+,%H3Z7XLK0H+2SEFHI*HVM8"M29. M[\_#^W:2IHRR_5'(%AJ<:"J>&*36Z$N MRKYSXR?:R9P'O M4SD";9UR6C!XY8R9VBF'!3@Y5X[]W?)CN$?=6-XM/\1"5\W$N^4KT;B^6[YB MBI]T"SX& Y^Z$8GKE-.AP6M'H&JG'F;F7C]\-6J*?@8&'O4C(:[13P\-73\B M52O]<#/W^F%I::?(IX_WJ!Z1MD8\'1BZ=@2F5M)A5K,O_=&/VUQ.ZD4_"HBP7;F-!FEOOET^87":LO_L[#DB^PB3&^=+H M1^P+<.M8IE9LZ&ELK6$)[1#J4@7A"J2D++^1V438T>GK.W M:;17 "B-"A6;I-'6^LO3Z)CZ&S3*0@!FWQ[)"TQX7)1N1T0 .=P$41#L[7N, M$+ THZ(G[FXP' _YF'T[X\_!IJ0Z^RE+HCC=Y-=IJ&Y\-=:9!DQT6RFH@+ 4 M86 Y%D8-1PW^!%$+=_OJ%MM=&K"'G7735I<2"4LE)IJZS75GNUSLRFD2A$49 M).R^^7LX,K17U[CRM%@Y+.E9B[ MGFXO\ET.A*4* TLQ[IW#40\_^Q':F+9,L-8,0<8(=P=HI=2Z\[.#KV&UNY2; M<'JV!LW=Q#-K"#7MO+H>UC-+"7/8"MBW618,[.4XISF9%+1'&1E&H-@:4'#4)J9J;_L,'NR MR?17"\\@A3E,-*DDV4LS*6!@B4!-4$PQ23L%9ZY@%2=/F)S'NE,^(L9=EZ"@ MUW4&(P"L5E>P$SH #D,,-W=[\]NV/@8DPFE^E60DCH+V9+Y: 396[BX6MZY" M=[.XT026;JSY"G>+\\O4:LL35-NBM#&>?2:"GYG_8JN=FCF("'(W^U 1[.8= M8P0L::CH"7,-_%S-+_C*\_R;%GE!JK7MFTR7I%B%=+E)H:':WYR0P&!)085CDM/J9^25A^^H]3')W&&F\\F5ZB4_M[:%);+I MQ,?:>__A-Z@U1)TEJF*X''=3%H$81A-O'9_<>Z_J/]-BU<6T*K/=RG'N>P;E33[G: M@B40#4/QYH_35XJS3W@YVWI9>Q+@><$@JK&8P\-7?,]TP<9)OL MN0[MKKL2ZC+3I(YL/\^D# =+('J2DAR3?9_M8GM^2%![/D4)]20-]9D3!0ZR M-$SG2,;2L#TL,MM"=Y86V^3UF@YR@R1A%5VN5]2Q)7R$>Y/EN;C0;32!U4#6 M?(5HR@(1O*><^"ULQ1:CIR I>9K/754FBKM">2[9O"WWV[G&9Y?_:;.M+H6Y M&YVI27:#,Q$#2S=J@L*5P)?_.7E'?<[0I^8L.)UZQ%DD[CX($%@/7LE/?BAO M7R%/T)YCM2_>;#U:3 >/CR79;#6WLLA L)Z\AJ'0D;50^TM:YEXH9?/L8(,/ M7"JULH;57H=0GV&Y=$Y?IC\U#W2Z8#-)F#0SF/,)Z\]\ QUUVXRU00RP&8G+ MEW!+B>'%CMT3+WW,0PB\9RWE)WW@N$:B@$.]=,?W>!?$:9QNS@)*,,3+=2^( M6GC^6C2LIK"A*AXQK6W08V7$)C I:ZIZY.2EB*88," MKA9VHS+[1VDL.&5AG(^4FK'C2 M69437])D-- TL@!QGEU"U^BHXWHE_S7JQS%D]ZK";:PFG Z MQT5^CQ,5NO8D14N!^NL4&.&%O9)K68+ P@*DJ6LO^5['UP_T4-V M%[R*P0!***P&,O(4 @.X ?=HU0X0"K@-2T:S#U[]A&QDP1I&$Z#M9.*K:2_ZGR:P[9$9LX@:%-;F?ANN4M]%G(?LOSCZ*XO$ M,[U4(SC0!M-Q-;]<46M712?Z;::N\U2W3828OX&Q;7=7+'KM_A9?ZAP!'"9 ML45SC'#P+:SFEU&396FQ/C3XQD1O53Y2=0.+&*%G;F]_Q+L]\%U0H%9K-F>D\* MIXL8Q\E>-9Y]#(#5[ IV\M2N_L^%\^QQFGC.T?>PGK6+17![MT:(V UN(J>\'8MSU #=!"^>T>R/2:Z3*D2D,LP73G! M?FCN$ &KU57T9"&X#=#=N[Y<\WM;#/?ZZ?$>/(":ML09B&!8"K%@JG$1;!9= MW;WCY$; JY*D<5$2S$(T_U'&>WVB,2W<718H,^DN[Y,:"TLV9J+"S9&-!8^Y M:6UF]S94EG$4!T27C%O N/,J"GJ=)QD!8,E P4[P&"W,ZXC]+",D>V:W4U[1 M#\]I9Q?$:1OQ*2Z0:.&P&L**J[!XTAHA]I106)FAN+'SLG;='+VLSOHUB1'X M2"9.PW@?)/5A0*'!K"UAM=U4VN-F;.R;!_GV'H^8K3FLQCN(N^*=:_LUW)2#"E;0:542 M6M=%57V>GYBPJI->I-$]W@=Q]+>,%-OEFMV:(^Z2J;&PVM!,5!:(PO/.L 4O MPHW0,[-BK1=1.R^-LRRVF-SC)YR6RKTL"0968Z@)"CL;#(D:J-?EI_,LI:.= ML/A;7&R;(/6;.'B,D[AX9?'T(F"UV\'\U599%58]$UE,TW8XRXJ+%N)0K10%K' U%H45J;'==3A#3 MYQ6L/9V1KNDTK-M\V-6:R4-VAN^"6+(18F<'LYWL2*M3A=?+ZD6&'EF>\#CB MZSS[IF5]MRF_6#.+T^**/D(VV:MOV0PV>)@C5]EC3;*'U<:'D1?N%OWV7W\0 MKA?U&XY8YK0R>7Z>[1ZI/Z]7/>L46=<1K6&\CEG 0B7M9L./3O>;)=,8Y_0[ M^O2BFVH=X*R,DX@%] D*F//'8,G%04V%0,KZ)U'O-T]0]ZNH_[.H^EW4_##? M'NK]-*I_^P2Q7^??MK_O;\?H?!N0#<[92"6_Q>(^G@P$2Q<:AO)-H[#"HJ_9 M,"O_YH2E#7#= &5^N@F"_2^59LY+0D:9-:2 7S[\DCPFSA[]@'?]R/6\A+5[ MCCI!-<[30^Z]A)HG+:( /6X-N?$S[T$!/7C#$X?YJ&V>L:='V^1&N7S9\T-> MS+/)GK$,!^AA:^F)2;PK,*K1)XCC/;4 [6:NTS#;87;UZJ(H2/Q8%CQX-;NE MUFQ'/&/Y"S:R_#P'%P*H[0[G+D;4%*@J"GW-"OL&]8MCL[=A@:@IT5/3_PWS M>R2BQ1,F=+;2))9:T8$%SI=ED1=T=,=OM\KC4-;LDPH U.2'\1XW=U,*JHM! M7:*MJB34*^H$\<)@M?1%G)3T4Z'>$]I:503\UC8R?V-[U^5[:G$VA6 ^:)E> MQ/D^RV,V[VB6H=[+&EAO :@]+8F.FX^9-7XY2U'/EK5@9>VIL=AQX^)UQ2Z( MXH.QJZ?;F"4D#Q(V/6_J*VLT.TM C3>1L!#5P\U19W^"KOYZ>GM]@KI"4*^E M_60(7V,Z78GNZ8RE'N*=TW_&XJJ$$OG+]]X;S)*@<)\(_3:@+]=3G'M,_SUV M%?CL]7..H^O4T,=.MP;4W@>0EBW^ ML3)04PAZ?$5?LW)H4W^#VJ*0]TZUZ?\?LGJ/MTFM=T M0%HU:F(#X[J0-B?A">+EG QSAT%IWF;['^<\'3T3J>RX^2'VD)O8AK9-(W?E MG*#;*C,_?\^;PF!YZ2JIUJ%>6F(-J(D/(#W12[=%^??2[!AW,T^[R=+- R:[ M\1%U$Q90VQDIBL&/C0%[XYC):4%M$#/R[%F5$V>=.U4: 6HD>ZZJ?!XL+)79 MHJ$Q:C[F0]X*R@KT&X#\P(;B)7E=%5GXJ[A>),>!61(RT%.%@8_P_E^EF/GA M-#*]/ T,YNLBL%..+*@S:]'>'_Y-%J06GJN%@7SX(CO=PV=H[GO\/_U6!Y_B M-"-Q\:H+L;$P ]DZ9K:ZUEJ2J#I+U!9S BR(1C$HK8X.'CH.EU@#:MP#2$\< MA[=%^1^',Y;L_]BT_BE(,%^4SPL2AP6.^*22I5SJ?]!#WF$29Y&XFLBRO=#: M-5E4[X,"7Z[7.)2^^6X9 -*9IXJ/ME#BJET6S5.H= M7?X^@'&]UVK/IOI.V0TCQ"EQRSXIU+'RMN;"TP7Q'/625& /^*4X2T9SQ:FV M@/SK9,KB&DV57HDG%VN*0,^T#-04@GYFQ2!>CI_<,3C!3)GU?OAUNL[(CJM, MVIRV-@#3]JSFJ^]C4Q]Q M2OUY:& HA=14>M0;-+K^GQN!Q!2RM#>V(:VYT M3+"(=G$:T\Z;OO5/N@::8 ZHT0YA+3]L6Q=R@IIV98.784&>&[C9IFQRIK-A M%)U<7S&77O?3LH:U, /4H%/8*D_!]XQ/V/H#XN9-KDC/S7>,M #JP*SC_PI M< !(LL@#URC&>Z)228F3\D'HG,Q!__ZV43>4^()IC$/[X[_>K#.P_% 0EQ MO/KQW4\/)V3$^\*HRC\ MP;L@P_&="?TV^"@BL MNP>2T0#M^KJ_GOW%^S\?+[R/'TZ_._WX]:EW^N&_O?\^]2ZN;K]Z63)A+OR4 MM6.__IXU^_"1_>OT=''Z[0^G7_]P^O'_ S^:^FF6[#[ZX>6[#]]\]^'#A].< M_(\1CG_]@?_KT4^0QR"*DQ]>$OSCNXJHSU]_1>CJ_4=&]?[_?;YY"-9HXY_@ MF$,5H'^EB^[T^^^_?R]^6S9MM7QYI%'YC:_?E^SL>F:_Q8KV%4X2_$,B MV+LA@9^*D:;]C"=MP?]V4C8[X3\Z.?UX\O7I5R])^*Y4OM @)1&Z1TN/_Y<- MF-U7[V?7?V(#9/.>_^(] R?;H#@]B\/+.,7I*T>*;@2CC'G1TYJBY8_O* Y^ M/2D'!O_!'1@QU4A[.'3I!K# T3)@IS2F)V8^#7!TZ-LU[&H+[ M)\Q7+JX=3.C?D$^O-\SL$<5^]!DG20FFGGG#C@;A'<49 NBUWFX NT 1"E(4 M%E@9S+-ZRL.YNR'QZH0I?G.!'K6X=38>8N8@P:]K$H5L8W3YCXPM*/II0T9Q M.#>7/HV9025S1!_6;.+6\2)K?S@G^0R]\%_TP[:CZ>'?9UO6#4[%),)FE1D1 M$PW;*&,]/P#2(2QKQ;]@9%$RBL.YN24,@SAE?V9$J^N8V0E*]!.YAFR(F2]B MLVG(]B#IZX+Z<>('7'# 3*BF.YRSLX"9;H)%KVR47.!D2_*_ZGC34QYQM5OX MCQ%H8>G3W7 K'YC-CM9CKH(POJ#T8\PJ4 [5=&/:"XQ#*/TQ][D7*/5QE-SZ ME#*=/6E7V\-[/N+,8"[<@1T?4;:3AXS]G+ZR M!$>X8('OXBC;!-Q@_Y']-&5[N9]QNIYE2 MXVQLRBB\AT%/K*9L DA'/=&:\MNCJS'VIC4S*I:(+:&I.$ON6H&M=9#N1SM+ MFV)DV,UX9VWSC:!9/V.>+8R9[]'5J/Q7QO"^9B* M6\GD+$GP*D;A@K _(6;:::5CH!598$6EOVWE)N.&_:!&@EY2%(-4^"JY+OIE.:JP*'1&J-9WKV5]^4?%Z M]IB(S6794>0_HDAT_PNGA9&^[\,L5VO"]"IN=A,4?+4B3^]#A-]S ?@?A"0G M'TZ+>]U_93_Z)6?B'JW$?BA.^5UZ!^NL:7?+)J?5X7!& X]0MC%@D)5]^C2H M#8+V5731XOU6W&J>!&L<[<;/DI*-J2X+O1&-(%7U,A:.C\$,\5-)=,WLY>4O MZ%4%0JLI$(53]V"02&T%AU*0!>NW6_WU%D"M?W1)ZUTR6E7V'%%,F @ACP%2 M:[W1%*C^KUU4?Z?45G X8^R$G*6KR%]UZ[_1!*CW;US2>Z>45O0]RRB7\0HG M@1]Q-Z1RZ,M; U'XO4LHZ&2WN/J**,H9XV5%J'+M;30$PO 'EV!02&P1@8>- M'T7G68)CE"0J!!H-@0A\ZQX"G1);1.!R@^B*>THI>4[7/*+8CY6V("$ (O*= M>X@H-6 3F1?AIA%G\WSKH(2EHS40D^\=Q$0JN\W#&MEL2"Q\WR(J*[G+4A'/ MSP:/\N2FI ,?X]Q#":(0*WBQP<-Y>'C=/)*H&YI&$R@*3IVF.\6T>K#+=WFY MQ5ZQGTG6=$5S*!!.'K"EXCL "M]Z@R&I-(8"XN216R)Z!QQ_?-^2[H;]8!2W M=W=F2M4(%:_HR2NZZCNTRI&U])-'@5*6G*Q\ M?YL/+Q2E2?F3YC@K?OS+CM>[Y2YL9EY<42B\XP4YC+JWY1PN7G%=HA6DV #"*_&TA=QT^,)T)?&8-R9.JMK'GO>R#1)9\;FI]3M/5Q6,0.:HU# MTMR:#[\'%DJ)W0#E+ETC6I-)CDA76VN^_!YPR&5U XNAZ:4CE_ %PF>*SO W [W1D2N?\;Y$ M[)?A32ZUE$/!7DI2/Q(M+:];9(MH^CJ/_-R1PO:D6WXJ5.X@U%36KA9,#D\0 MP=VP+#8)(![8>4/\N+X'Y?'&.H.#4=N[:##!S$03;F#WB9#P&4==]PQ%DWT+ M>]<,)A@T)7)#S]=,3_$*L\&0"\&&Q.5+$&7\"D2/ 8S:WNV#"3XFFG #N\K. M%3*A29K;NXHP04/=DCN#3B/1'0*0C 2*T6B'VSX8J>5W R:>W[XHTMNU '4V M!M\".@.-0F9'0#$PF@.LY>-H1UIS2"!F,LF]XT7!\\)_J0@).7'I*:$XCW8T M/G"G =6-(U99F38@^,G:0U$;[.9O<>HK+B>E!. 06F>0TD(3?C-\MV8E?Z0FMABO_ZAN(_F?;M:\F8;< MV G4>J)#>IM-U\&0<2V4_8/0-) .&A3-EHO59Z4:[ZQ\2,]@R=\R#^_[% MP[ME?D/0?6#_!G9@WW?GD:67=^C][J?8ST+,?F_SR)XSLV-0?TJ7$EAUYE8? M^@5X&(IV.B-JC<513$D#0AFK;N @3,[- U^Z,B_*RKK1M0= \D&0(5 M]JN)%\.AD-"T@@#[6U/[[$>\O$68!2G;9R+ZA -T]H*[=,^:=K><@N:ES%>< M*';4+CS7.4?)!=GX.%;JOJNY90"DNI5!T"7#WB79"P;)FV.\/E!"EF=10-9L M,0W.T1.B_@HEG]'F$=$.37,R+94USYQ:AW5]@R1Q:9=[14C(I"IYE$)4M)$ARI?,A^)\"'EW%-K8>V,9CK/=,@U MD@8+7MAA3Z]+25MKI;>,9V^5K&Y,#^7#\?IC7[NE*[>4K0-'*[2S6T:G$+AB MXO%4%<[@SSA=S[(D98="NJMKQ(N\L']"93!GK\YLWU-*\>F$L8^BW$#Z;HOX M"\WQJB@G"S Z!8DSUY0Z\].*[08Z,Y*D=TM>/:PZN3^0*-3#!*&U?3.IAZ'I MI(7JPW7\^N!F__[10/]0X-P"[,9_))1Q>(]$9'XQ+.5@R=K;OFHT-2RUW&Y@ M\X!$+.XG%#/9(L;L6;C!L7@Z/,5/2(L5E-[VQ:,I=F9Z<0/+"\2T&N!Q;)'][*A&EL4"I=CTG3@4+G?<'2 MJL$-M/:+=^F_QG'&6"Y6=Q(GYVA):%&-8.&_H*29/LU.+O5>\AS)SRA=DW _ M9A4[H:,R 1U1XX> ZY9?"]A,?>>V4T5A;.$QT( MOP/U^_M!^Z78=5E"K,SUTWLSY!36Z_V#H=1)[<;ZV.3RW$]P >F:&Z]Y+]6 MV6IL:E*["I_] @E_\!S85TO3PE@S9QIV8[W8?V_0^F$OFWO-MCKL(X\D0?8W.Q*Q MBTG,(-O9N"/K;Q&,.W!T&IS^T*FD@5_@)QRB.-PM@C,_6?/ZR?+Q J.V_I8! M>.TPT89#R?&O_[$ +F.=Y$&9T'*1J!X'JS#&0ZXG!^H?U<23!2HM_T9 VK6C6WA M6"[ET6X2A\7 P MM]<6%OV?%'=."W*. Q &.4,V]MB! M>@-?)ROV*_=CXG9T4.4AT(Y/VH8WP!K"6TGW!P5;9 2W4"<1W)SX>_B M"YQLBPI?=TN>9IDFIW+ =72V\W:.B#=,A=._KLRC7AY0D%&AEJNG6_Q33)$? M\>J)I184/GT@O>VTH2,.'3.53G\(55>^767!>,63&GDZ([.?@&3**#=X#[;S MF(XXC$S5.E(^5+GPW3.9BS5OQO[:N6_@!(KVMC.CC@&>1@5?BLV7LUB1$;L@ M-TPK*X'D TK32#AA]!L-#;GM["T+^PV00FV.'\DT,?=?"_5PP7U8 M3TD[XAQDKELWCKMMOL^"?&_$](7PD[K ,(S:>O9;#W!TZ,JU]"7.$SRG(V9? MZUYXI$JJD5E/D!MA%'3HY4N$?T[1UL=AN3^613EC_(1T>Q8(K?6\LX%!:X7^ +7G'MK7<9)1\1+QSOW7H108^M"^K*>N M'6TTF&G7O=$Q(U&$@OQJZ):D".3I '=@/5GN:., H$='P"^\O@MR%OPCPQ0Q M*9C Z>L\\F->S(+?.F_5MRXF?5A/R1MW"!AK<_H'V9;,YUF"8UYWG1=]S+=9 MQ6]4SS ;]6(]#_"XHPB@T>F/([A*ASBF.)!M..H8,M?F%WH$W@6XC'0$-N[? MG3RT@X_ /77KR,ZGNFU/DHSOVN^6-R1>+1#=\#MPX"%(0@O%>;28LH%!4QQZ ME-IS ^U[M-W%-\ PEE- D1W-B34JLCI-37^GH8UTT6]3%:30T7%LU]= =@_5 MG8NQ9!D-UG["YJD%ORC*Z*O(L9:%B\E:@W.1I@6P4F;[F YN^F5F/3?U\R6!?T/\&#S35QI#P3^V]VIH\%OZ^9+ WXWL9NE>HYF@30P= M',=V2HTV,\CT-_W! M?D$/X"^- YMB]JF*%CKLVI^Z*XN/S_W-W_Y$=(!,,R M'>& #6_AON6/OE5_4&DY1Q3S4N'-J*;B4=/+%[9%BU?HGIG*Y7*)E*]1'ID/ MZ#@>+9ALU'%L!]7?M"WL])-G2_O1)TJR;9FF*!!$X1[ D2S!F NH'1P[O,X! M.^B):&\KV J[>TA]FK[9PO'Q^^4CW!JFZ0D_MC8'L8?+V(%=]D.VW>8Q4GY4 MWD1=QTM"-_G0T)?5@W8 '8$NA9T::L>-:Y;R*,A+5'8_<+H+VF\TA$(TWDL% MAOKN?@RN(;@KJ.R>*P( TVX+KL?D*C8R\=V AS]=PH3:QV;$X6YI$G5B08]@ M0KN @CF:#[-/_(&IAD8J6G).*"7/O$2_"/)$-/5Q$5-#J*SN@(X("LB8KR,: M:I? I1L5C_+47 39%OE>=S&:4\S8W_K1N1_QT 0)- ;T4)3&?!:Q/TK&BCHJ M8(MG$T6R :>&$D/A&2^. MZQ!XS%0T$D[%G3$8&D5[<(E8)]'0*F)40RGFS,L7%&2<]06C8=J+(D1S$5 H M)E.EP< [@4(U7H34X89CJK*1\+M'RY)Q;=@R)U"TAZ(R7NC2(:AH%3$2 ,4^ M0[CP>7&:GPE-UWGLJP0")044!#>/^@!EN.%0*^K&B I"(4XSIN7K.,CX'U]Z;^X)UX_!8M M(@F3B?U%4/)'I6JT%NM;YU6*&$QS$N$ ]MR*@L:BP94)JA%D]7=$"U M8$B?1]U!]T5G??JR_#R4'LF&S?77EV7KXP>\.-W+^\"?(O1IR"N'SRF)V8^# M_/6V;J/\MFF4>8?>OD=OUZ7'_NLU.G7!6F?",<N>&+YK3PQY?_F"S7KT>)?>OD^OUNG;Q."0 MN( 9P+";Z9MZ+[W9MVD49TBREG_?8;)Y ^6#<\0SU8JNYFB!GY(^Z@/,2->;PR%Q313"8[J--[3 M#TWC+3LHM^)>M8L!/6IR1A7&R2DAA$.Z_N3?4QF8FE,'# NJRK;[ST A$S8D M[EP^29O>Y9KMG#9M1]!PC[0GB&P^R?F8[CG3KW:R]A87MZIS'["229I;7K;4 M.#16*:7$EG> HOS#FD1,6TG^_F"W27QL+2<5PG_S"E+;SU'J#:+9SF9V1$OU M_/)EKV2 <1AT8=E@NO%I9D28:L2R\5SZ-.:!L7-$']9,"]VF\W73=$HRC]%Y M.:%%PVG( # A*87-YV@;3 &,1T%BVU@TF#3?C=7);ME,*ND9W1;R3=-"<@HO M)W$@K<9DRZ4DW/LEE"4&VNAP=I MSOH2"8QX7/ 4Y>Z5\V,K#L,L[M'[7=[YO[\%0/84-Z%I153VMZ:8[$>_/ 1K M%&;\H<\98:,C3E"98^-'NW(VB8!"9=^LJWX]33C\L;?,KMBX"&E4F7 K'*0D M?5P,1\7/&OML8S6@)%;W_4>$@III")'LCB[I.2O*[/9 MYP;[CSAB)VDHQKTZ@[YB[2;D!^C/NJ-<&FFHF(?;,4B*D-;#YN;)Q+8.Y"K? M+>",09JAW?#!2+_I*=W+!GU,*S:VAX##3+.R4;ACA,G"G9.?4(RH'S&S/PLW M.,9<#/Y4O4CY3@ 0"KT.ZIFT58X6L?EHPL;VR_E M%K(RQ.KL5?1]_EK\TFB>->QP8K>5A^G-6<>NRC1;<7 J]ZX+-OJ%^7D?:@X] MA0DVVNDLJS4D77'/-@79+=$?W,"!F2 2)6X 6%3:NH%']VB2(5!AOWQ ]B 4 MDA*&! 5?K5VZ:VEV3K'^SW$D >>V1H'_DH45OR,-H^(=BB/ M-^QH9^U0TE)-^_0A%6NL:ITX39/'C*[66DUV-X6^?&U#F2KAW'!W=JS/#XC) MS::NZ/4>!605XW^BL!JY /6]#-"U[=.!=,F75-8Z6(O6+YZ@A;8N4.KC*+GU M:>Z+Z#X[M+( S IO>;\K/N/MOC.HY[2_N!K/ZA =N[#5G=:18RC-OYU*W-HJ MCWTJ&2 8)?Q[EN2)(5>$JNJK=1]BRH@'LVXFA)VA9$,"[:;[G[8A&Y:L_1\^G.J0 Y+;OI=7 M#4=IV3> 0MPXB+"%._*3!"_9\9/+Q\,/F!C9)A/QTW?I&E&VO69*7Z,X8>MU MGC4[XR6CXS1_Y_H6\<<._!=57-&07YG*\60,W;HR:OC#;R@LJPU4I+I 3%RL MC#'3T]JV>0.(H8JP?L0$QB_#3IBMK%732.:!3IAO0,O9S^BJBLQ,28;X[ MZ0K0+NRSV_H["KL;6?^)5[#!VU<9\7:<>'M6=I/%VQ3QYHHZEO&_^9UL^RZ. MYW<"907=H]W\)?$FL5:M1E/0=Q??HWB"3/4LO1RO<^S(#7F7&E6*'NB:_) \ M-Q3[;+&>4[9ZDRSA5V8\K Z%4L^-R._245G;^G7KMX4!5.Y1CMK&<\W.A:@" M14E@[:8>B = 6C>\'L)A4T2%%T'@\M6WL_%4/%<*21V!8HNXVR!>E<'X"B#: M36T?3N$XR,1T#(7<<7E#$@@.U<;6YJ;>2+1%=0.+/5]E!B&.,_Z":LXX._&< MHR6AJ%* M5F@2#@ZJKWD=9<_HW1-POS)R=IK;[(*H4=B CAV1GM>%3QV+$#C MQIB<4[+$J7I:J+:!OL)N'=&V8&XH_!:ED*FXT0S\W+IMM7>*YX;FFW6W^?.> M@1P!27,@$G^PCH12W($?A'$ S0L<9>G>$Z_'95S=PJB\LM7?7L.= /:] $VIW-"UN E71=46OX?JV?X9ORZ1&UJ6O\D% M>0$*KGW[IV3%ZV..(C'LMF&H_J&(VS]%#ZM1-T9)I0[061R:6*^>$HJL_8,Z M5 OVPZ9$[<:3?8&19NF\7<&1O*4R+*KK6?N\-N2)5WZ!1SS5O\%_4I;=V1>3 M="#DZ3=137+:@4Z'U0Q\BW'Z[<0X]4>A3+(NYBA-+IV&;(K8=$OB1JYS?@^B4Z1,LI$4*>)QE#JLM;#OVM+IKT,@>^%V[I:.3:>R(-]NYBL1-G;4+DZ(.4>)*N)7T=Q^Y*]J"+4AZ))A MG*7LP8]00I9G44#8 1P'Y^S 0/T54D_(6BJ;(;[:85,KZ@N3WPW?T14A(9.J MY%&7/R]I;C/<%XR-6@270"GDT('1:&8M-JT'")T2CKF1*;U<^@U-LZ6U #'3 M>4H$W/ )Q*6JC+1&]6_);1MT6J* &$4]A5V0B3\5DW<5-YP@ DKN! MG<$8-0-TS-0K3C0,)BN-1&Y:J[JACU37'K[5[)37']HT6U#/%9K_)= M[YE]V-M]^>WR^.AW9&^7QV^7QU_PY?&;%QWH1;=0+^/-BSZ^%_TL+.9*I<>J MU6HR7G*)?"/Y "]?M@2BSXYVD_!M2W@?WZ\Z^ 6Q7??T,>^)>V0#M7=,NW=V MBPJN\IT'C'HJU4),=-'[4+@5Y7 93S0]))=0]JJ04@02)S@LMMO1SV1*G/13T 3 '60Z_N7CA"J.0 4: M9$Z^C$.+KCKY8\\GJD>Z5>ZYKS\8/2Y?=]D5GZKYYPYSR/W&WI\O%'@=,]W[ M<8"TUBLEL+5_.NAE>8WX;DRW!9,/?N13-L"A$+7:6]OY# &11/J13GC%1]GI MB8T;1:6PL].]Q@))*[82S*K6K/+;O%DF8'&0I( M%V[ )AQS[6VU=HK3T5G+_#D(.)@VW$"N!VB'XS5\M-(0.S@05&9'XI2D?N3Z M<9@U8OVLB@+/;&4^"SL 9N?C^?W@%!^(-XCH/7LG$ MV^'9*!:1;XK%;"2WYFJ;21Z1VT*Z,;-^]NFOB->(%A;UQ XI.-G7[I8#HJ.; MYBD9IHV1-OT/V78;%=5GBDM&F4%WM9S@Z5@AL1O646UBRD!-,\!6OD MGWZ!U1NT\J,KI'J+H=)D8N?IM@ NV=8-\A/$+/^>:U#_-HFD^30/S4K91UI> M9FN?KM#,IZ%DO(L+\T:CB1UMNT085:D_I<593*+/RN\G=NIL<#_NS@<%&7\Y M0CX)Y#(T6EFK,7W CJ=;4C=F9/Y"!$KXFZBZ-;'=TEI=Z(/F89G$;N Q(TG* M7\?-[X[N$7_ E^^5/_LX3A%_=%:Q7H*(P:TF:*F?P@Y=& ,/29<<1$8BC=Q+_@-B59Q.DNST<9VBH2)JCO%&U&5BV>B566EC;4;DIZJ;(DWDBJOV-Y; ME(2Z(AF]9>OY'-'"6NI&HE2V<2_V_#L]\.BI(S<\/&4]^+/@'QE.L%"P1!,^!\ITNZ4 *1NX*09=P# &F*-5-,Y\&F$TK3Z974Y M9P6![4K[X'%5N_G1:L"-B:P^8U_Y 3K;<'\=]%11I9A*,0"=S"XB\]E/Q4WB M!9,1BDV=QO8)HR<\78*/N &^? G6?KR26T&YE6PV=#^'7L:YNX.^?#_QGHDF MY OW>T2H$:C[L'T6[&D4$,6X 2C;R@<(A0DOX7>/(L&J3YDY,WF4 0<**MNG M3C!H$.'=@.EA36C*;Y+._?C7&^+'_'Y=>'&*1$B%VUU/:BUJSQ0PL!I&6H'N M$=]/XGAU[D<\K.%NR3\NAX 3:6AL[YYAZQ)(<#=,I3X37Z DH'C+M0E=D6HD MUL($#UN .L0>R23F&67;E03-V>]YF139D^Z\L:2MMX)OU.HV]^+_#UI$NR9U$2)01PT'!+QBD)IF] MF+P#<>J6OP.JHV:2IR3X=4TBIK/DDLW$_&0%":3[NI487NGHW[R\*\?"Z7*F M]&%TS78N!&]-,GRN6^%O87..74HZ'#9W]NS3<,&^HKX:;C2;D.X;G+L1)_>P M9O*=LPUA.",;'BM>:(YRG[?8MY^_[ML4"YJ09"].',XC/X;$V(WS-3?&0.?X M;7G,QI!_G%OI/_MQYM/7Q3/A_ZQ)EO@Q?]N5!Y^D"*EOJ*'$UF\41AS^U6.7 MF3+=V-.+;=X]VA8GQO BH^R=BH7X' ]N(_;7_TH4^XMM:23 MN1@'J\$-U-C\LR&Q8/H"/^&0G>H2QJP88#,_64M\5 4YC-K]6W0\E+VX@'!/Y/'Y"Q(^:>#5)TQJJ:QO;?2C:!:ABA$_+%R[[(H^AORZ5GX M]RQ)10BY,LE.VMQV:):)PG5"NW'\^(U>B%C.BWN[$'F[$)$58MRF8II8K#%_ MKLC\5L2H!^NAR$>Z&NFA5C?FY]V*4Q39.D%8Y*$BO68Y,^)G.98JX8-VSTHAB&C.'*VS *S[JD M_61N3M0"NP%*91KQ-S@62@1EAF@))W/_ 52!&WAU&S]_.3H.V #+M9M>(?Y< M>,15D#%&7FN-3:=+P\YMG_8/G$=[J=*-L5'.-\:;(2WA9-(@@2JPN3N2%>B/ MZ>[Y=\9WP7!RCR+^!(,L)49+9?WD LJ$ 0IO^4:3W[%BX:+B_L%\P[5";+* MWG#^OGG#6>E1/--6Z].Q*T^5] :7H(;=#%O;IWRC3\&$[ XT+XT#[\ -OT\O MT.K5@. B'WR/*GL01O[EUJS2?"8&1&H9*U,]MU&"B>G(#2OW1MTM*\XKM4]= MTGS2F*E%<^/>M>I=%+4D8G__DP7[4\*F#.YED+I92]^S:4=N3)W*8=J\/3$5 M<2RO>,JV&X+7%45(>X.H:&][Q]]S]-6=V1IMC'2->X&"R*>\^>N?LW E& BT M=02U5+9K00R "% SHYRF$YI6YC[VM^:\QW[TRPU.\4IH=,;?O>M>EUC#KG:3 M7I D,HUR#=P#"3X72Z]O6[Q76UM&1:)7C?*K HRS4ERS(^\FQNGK[L74&:%; MDM\;*.WH<(Y],Z^T-S1F<_RE\P MOF0+D32BEK5J-9KTJMHE4.7:ZWBZSQF0KJ"L2;V%9:UWZ:VEV3K'(^5=GUW/ MUP3%^$6=8=UJ9F\N;FFF/3?(I!IKVO532F(>#2K*6HG#6+@@<_]5-OI'$6?\;KD_%=^01.8VA1!:BYQM/V4JS.O:DMK/NE!;*HMLQN&Q&,O_(A'7GQB^T6^!-[%U3'!:SQ<1>3Y M3RAD!\DY12G/B JR32;*PHN'L/F)GJ(U.]3OPJDDNXOBJZ-^U%K,RX&&>@0D MW!ARC&F:H; 2%,M4)=@'!08#R:UEP1TX#(RT,]I,_=K<'"O?E5&TMW9O==BL MK9'?#4/:>P3W?#:>F6^;CY+(FN?^0*,!:&(D4[G-N _E;MD^6DIL145@SV]T MB+7H53"2[IO6>8N8R99+IC[HH8O&GH?_$ 1 BG!CSJJX6_;+V2RCM-MBRD., MDLI>W>(7&TF:W"WWDZALF5?30&%PS.L!480;ML.W\GO! MRLO3!Y*MUJFFG"2 % J?S7N5#ITB99",I4EP M*'58:V&]^H9.?1WRC*2Y3RCF%1S*R&ZD5**LL?6J%CI]JJ5TX^![CYY0G"'^ MJ#@_)?)]Z<\X79=Q/IT7IU-I;K7 9J:?N6OW1,$ MD$B"SL;65V$HS@I1IX_C!6*,!T4AG3@\V_ CZ3]E_N5=!1<%D?5- ;P.C59T M-Z;D.25L"*:OO#9DRCCE;T=NQ3U2&&)-=3T(K?5]"/A=#; BW !.]VRYX=OD M]DLW:1\@/Z;7]Y:P^9BMNR2*Q.2<7Z0"R_Q\V_3NUGOS=MTY5N&G6VB]&U=' MYX(+:Y+.7!@@;RY=5]V&-V.[=$&I]'?/[&28K/%67L^@T60*NFYS/8H[UDS# MJAH%K4;V2Q-TCHPN!1_!V3J+LD>]K[7:RMHAKTLS$D=K6RHW=H^?<2S>Y2C7 ME)T\^V"8\]>YKX[),NID*IZ7'IJQO%>]1R+\G_&4OE;K\, VJ]\U-ZM%=Y[H MSZMVZ-AV52:W?L.JI[3I-U572NYM;-COV].C]4> M1:I^.S9#EK?J,;!Z+PO: V5%-9?,(N8N[*UFL@G'^6OF;[KAOW),;1R(( MH,W#J+&HCC@,.M@%N [45&Z@V'<<-Y!5B^I(#!E?"W@^$,WTE7Z[VGY1B'4) MZ$8069TSR&MY<@HW(),//"4H1WBZ#K_P]RX?4!0A>L5F\3A X2W1Q*5HJ6P' MJ.A&4"U;#::"D>*!%L^D!P!:*FOIYCT *I@+ !0W < '96UU.4^ ,!48*\2 M,CO;A5F0WC$6Z1,.%+60NUNZL0@RL5.O%SL M/7G,DO0R1G3U>G,S4TX6JG@Y3@RYA3=%)6CH6. MH<;_2)'6#P$@=0-)S<@$ -80:YPY[ K3),V??[_"3TB4]%'G;BDI[)4$@2NR M/=$!E.#&=%>]@N-U/I/*/+%X8G".*28B#8I0N$-TDYWX4$1*7/R+G:.[CKC>?.UV- M)CW:SL?I ?VAZIO (.B)M/U;GZ'A[,!LHLF/N\Q.47J]7)(4R[&DO>W\K3Z+ ML%)T-\SQAF\'4)W3>Q2C9S_B4XH<)RVA-=]O?\" RG #N3J;VFK'DN:V;VL/ M-JN!BQL/6]EPM_/.]^.RU%K%,=2T(VM5Q@\X?_93EAM(=TT9E0VYV?Q9([1] MC3_0_-FA##>0DST'!%@O]BZJ#G:BQI>1 M6[=-;*]H^Z#.7)E6IN\(RF^-_H2BD,G'MQ>W).5IF6*NDDK2=CJ M%?8X,1_I\]!1Y9)[ZZC(C!0S7SP*5WY^X;^H'LWA)$H**(Q.^+^TTK@T#? @ M_F3NOZH34.NMH&BXY+WJDG.DL5_]5'Y?)!GR70VANG7"GR038E3USBF*\(9- MC/25>S?N8K[P5EP?$F7KRVDMN$+^?,TW'\R*(M0?LMGN^?+\'6/\-TO&FO//\@CDO M)?S/C#W/3SU__QTGGKQY*[ @\Q&_%5AX*[!@#<6W @L0#_ 7F.;P5F#A>)#9 M+[#PEMW\EMW\EMW\EH#[EH#[EH";NS)F:QSX*Z+-VN]H9RW9!9!W*Q5K+(_0 MD>H?#!\] %#FV"4/WG*8WW*8WW*8@6*-LPP,>>%WX\?\%^<9TPN.5UU6*%Z# M'/63$TJN'5\9+D[50TAZ'3^Q]H0"$CT'_MP$$WU'5?R7-[8F'U#B4J"IK7B2 MB0; #6NJJ1^O,&ML%@P[S 6"1E+=9^_(F0\!E'T;'' MG92-">9^6P'*C3&J'S[&R+H4N>NFTLNLK87_4AE JCNW[O83S.E6BVZ^J_@^ MWU7$:,53+;ZL786N*-88WYI@ OIX*N^]R4U)ZD>-P2@/Q2M^P__UZ">(_>1_ M %!+ 0(4 Q0 ( .N 2TZWU4EK^8H @(!P 1 " 0 M !R:6-K+3(P,3@Q,C,Q+GAM;%!+ 0(4 Q0 ( .N 2TXSL3"+I!4 (3Q M 1 " 2B+ !R:6-K+3(P,3@Q,C,Q+GAS9%!+ 0(4 Q0 M ( .N 2TYJ"IM/1A, !_U 5 " ?N@ !R:6-K+3(P M,3@Q,C,Q7V-A;"YX;6Q02P$"% ,4 " #K@$M.PS4RXV4B ![#0( %0 M @ %TM &UL4$L! A0#% M @ ZX!+3@BK/3<07@ #Q<% !4 ( !#-< ')I8VLM,C Q M.#$R,S%?;&%B+GAM;%!+ 0(4 Q0 ( .R 2T[0(K/-C3, &(C P 5 M " 4\U 0!R:6-K+3(P,3@Q,C,Q7W!R92YX;6Q02P4& 8 ,!@"* 0 #VD! end