2021 Form 10-K Financial Statement

#000162828022007042 Filed on March 23, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $118.9M $6.500M $18.12M
YoY Change 556.15% 23.81% -19.51%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $68.22M $7.110M $20.09M
YoY Change 239.58% 79.09% 22.72%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.596M $410.0K $80.00K
YoY Change 3145.0% 64.0% -89.87%
% of Gross Profit
Operating Expenses $112.5M $7.110M $20.10M
YoY Change 459.52% 79.09% 22.79%
Operating Profit $800.0K -$16.30M
YoY Change -104.91%
Interest Expense -$29.06M -$1.630M -$4.030M
YoY Change 621.02% 39.32% -38.28%
% of Operating Profit -3632.13%
Other Income/Expense, Net -$35.94M -$380.0K -$2.283M
YoY Change 1474.42% -246.15% -2383.0%
Pretax Income -$35.12M -$9.960M -$18.55M
YoY Change 89.34% 1322.86% 3537.06%
Income Tax -$3.537M -$2.280M -$3.689M
% Of Pretax Income
Net Earnings -$31.58M -$7.670M -$14.86M
YoY Change 112.54% 707.37% 1356.86%
Net Earnings / Revenue -26.57% -118.0% -82.02%
Basic Earnings Per Share -$2.15 -$1.25
Diluted Earnings Per Share -$2.15 -$642.9K -$1.25
COMMON SHARES
Basic Shares Outstanding 14.66M shares 11.90M shares
Diluted Shares Outstanding 14.66M shares 11.90M shares

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.66M $3.900M $3.900M
YoY Change 1352.72%
Cash & Equivalents $7.211M
Short-Term Investments
Other Short-Term Assets $42.07M $2.365M $16.10M
YoY Change 161.3% -61.23% 163.93%
Inventory $5.927M
Prepaid Expenses
Receivables $19.56M $4.200M $4.200M
Other Receivables $231.0K $200.0K $200.0K
Total Short-Term Assets $118.5M $24.42M $24.40M
YoY Change 385.7% 132.6% 132.38%
LONG-TERM ASSETS
Property, Plant & Equipment $179.1M $483.0K $4.500M
YoY Change 3878.96% 237.76% 400.0%
Goodwill $10.91M
YoY Change
Intangibles $47.71M
YoY Change 60.46%
Long-Term Investments
YoY Change
Other Assets $21.06M $576.0K $32.00M
YoY Change -34.19% -79.43% 1042.86%
Total Long-Term Assets $1.152B $96.72M $96.70M
YoY Change 1090.82% 34.15% 34.12%
TOTAL ASSETS
Total Short-Term Assets $118.5M $24.42M $24.40M
Total Long-Term Assets $1.152B $96.72M $96.70M
Total Assets $1.270B $121.1M $121.1M
YoY Change 948.75% 46.66% 46.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.53M $8.625M $8.600M
YoY Change 220.08% 19.79% 19.44%
Accrued Expenses $82.17M $19.83M $24.60M
YoY Change 234.01% 138.95% 196.39%
Deferred Revenue $1.887M
YoY Change
Short-Term Debt $1.173M $0.00 $0.00
YoY Change
Long-Term Debt Due $631.0K $19.31M $19.30M
YoY Change -96.73% -21.17% -21.22%
Total Short-Term Liabilities $198.5M $73.18M $73.20M
YoY Change 171.16% 60.48% 60.53%
LONG-TERM LIABILITIES
Long-Term Debt $904.3M $73.85M $73.90M
YoY Change 1123.63% 260.25% 260.49%
Other Long-Term Liabilities $111.6M $82.00K $16.00M
YoY Change 597.24% -99.25% 45.45%
Total Long-Term Liabilities $1.016B $73.93M $89.90M
YoY Change 1029.95% 134.71% 185.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $198.5M $73.18M $73.20M
Total Long-Term Liabilities $1.016B $73.93M $89.90M
Total Liabilities $1.227B $163.0M $163.0M
YoY Change 652.9% 111.17% 111.14%
SHAREHOLDERS EQUITY
Retained Earnings -$20.90M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $42.80M -$41.88M -$41.90M
YoY Change
Total Liabilities & Shareholders Equity $1.270B $121.1M $121.1M
YoY Change 948.75% 46.66% 46.61%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$31.58M -$7.670M -$14.86M
YoY Change 112.54% 707.37% 1356.86%
Depreciation, Depletion And Amortization $2.596M $410.0K $80.00K
YoY Change 3145.0% 64.0% -89.87%
Cash From Operating Activities $682.0K -$2.970M -$11.48M
YoY Change -105.94% -315.22% -822.26%
INVESTING ACTIVITIES
Capital Expenditures $10.42M -$220.0K $460.0K
YoY Change 2165.65% -1020.0%
Acquisitions $721.4M $23.92M
YoY Change 2916.06%
Other Investing Activities $33.00K -$3.230M $0.00
YoY Change 38.03% -100.0%
Cash From Investing Activities -$723.2M -$3.460M -$36.58M
YoY Change 1877.31% 48.5% 305.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $815.2M -620.0K $55.25M
YoY Change 1375.66% -193.94% 713.62%
NET CHANGE
Cash From Operating Activities $682.0K -2.970M -$11.48M
Cash From Investing Activities -$723.2M -3.460M -$36.58M
Cash From Financing Activities $815.2M -620.0K $55.25M
Net Change In Cash $92.71M -7.050M $7.186M
YoY Change 1190.15% 2331.03% -1240.63%
FREE CASH FLOW
Cash From Operating Activities $682.0K -$2.970M -$11.48M
Capital Expenditures $10.42M -$220.0K $460.0K
Free Cash Flow -$9.740M -$2.750M -$11.94M
YoY Change -18.45% -299.28% -828.29%

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CY2020 us-gaap Common Stock Dividends Per Share Declared
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CY2021 fat Stock Contracted For Issue In Payment Of Debt
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CY2021 us-gaap Stock Issued During Period Value Acquisitions
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CY2021 us-gaap Dividends Common Stock Stock
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CY2021 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020 us-gaap Profit Loss
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CY2020 us-gaap Stock Issued During Period Value Issued For Services
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CY2020 us-gaap Stock Issued During Period Value New Issues
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CY2020 fat Exchange Of Original Series B Preferred Stock For Newly Issued Series B Preferred Stock Value
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CY2020 fat Exchange Of Series A Preferred Stock For Newly Issued Series B Preferred Stock Value
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CY2020 fat Exchange Of Series A1 Preferred Stock For Newly Issued Series B Preferred Stock Value
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CY2020 fat Series B Preferred Stock Issued In Special Dividend Value
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CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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99000 USD
CY2020 fat Adjustments To Additional Paid In Capital Extinguishment Of Derivative Liability
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CY2020 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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CY2020 fat Adjustments To Additional Paid In Capital Warrants Repurchased
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CY2020 us-gaap Dividends Preferred Stock Stock
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CY2020 fat Inclusion Of Accumulated Earnings Deficit Of Fccg Entities Acquired In The Merger
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CY2020 fat Correction Of Recorded Conversion Rights Associated With Series A1 Preferred Shares
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CY2021 us-gaap Profit Loss
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CY2020 us-gaap Profit Loss
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CY2021 us-gaap Deferred Income Taxes And Tax Credits
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CY2020 us-gaap Deferred Income Taxes And Tax Credits
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CY2021 fat Noncash Gain Loss On Extinguishment Of Debt
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CY2020 fat Noncash Gain Loss On Extinguishment Of Debt
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CY2021 us-gaap Depreciation And Amortization
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CY2020 us-gaap Depreciation And Amortization
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CY2021 us-gaap Share Based Compensation
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CY2020 us-gaap Share Based Compensation
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CY2021 fat Change In Operating Right Of Use Assets
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CY2020 fat Change In Operating Right Of Use Assets
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CY2021 fat Accretion Of Loan Fees And Interest1
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CY2021 fat Accretion Of Preferred Shares1
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CY2020 fat Accretion Of Preferred Shares1
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62000 USD
CY2021 fat Accretion Of Purchase Price Liability
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95000 USD
CY2020 fat Accretion Of Purchase Price Liability
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481000 USD
CY2021 us-gaap Gain Loss On Sale Of Business
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2681000 USD
CY2020 us-gaap Gain Loss On Sale Of Business
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-55000 USD
CY2021 us-gaap Derivative Gain Loss On Derivative Net
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0 USD
CY2020 us-gaap Derivative Gain Loss On Derivative Net
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CY2021 us-gaap Asset Impairment Charges
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1037000 USD
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
9295000 USD
CY2021 us-gaap Provision For Doubtful Accounts
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1843000 USD
CY2020 us-gaap Provision For Doubtful Accounts
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981000 USD
CY2021 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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0 USD
CY2020 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2021 us-gaap Other Operating Activities Cash Flow Statement
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181000 USD
CY2020 us-gaap Other Operating Activities Cash Flow Statement
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0 USD
CY2021 us-gaap Increase Decrease In Accounts Receivable
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4705000 USD
CY2020 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accrued Interest Receivable Net
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CY2020 us-gaap Increase Decrease In Accrued Interest Receivable Net
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3631000 USD
CY2021 us-gaap Increase Decrease In Other Current Assets
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1533000 USD
CY2020 us-gaap Increase Decrease In Other Current Assets
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CY2021 us-gaap Increase Decrease In Contract With Customer Liability
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768000 USD
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
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CY2021 us-gaap Increase Decrease In Accounts Payable
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5374000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable
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CY2021 us-gaap Increase Decrease In Accrued Liabilities
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3002000 USD
CY2020 us-gaap Increase Decrease In Accrued Liabilities
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-1678000 USD
CY2021 fat Increase Decrease In Accrued Advertising
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1894000 USD
CY2020 fat Increase Decrease In Accrued Advertising
IncreaseDecreaseInAccruedAdvertising
1398000 USD
CY2021 us-gaap Increase Decrease In Interest Payable Net
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8831000 USD
CY2020 us-gaap Increase Decrease In Interest Payable Net
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585000 USD
CY2021 fat Increase Decrease In Dividends Payable On Preferred Shares
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1188000 USD
CY2020 fat Increase Decrease In Dividends Payable On Preferred Shares
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-531000 USD
CY2021 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-653000 USD
CY2020 us-gaap Increase Decrease In Other Current Liabilities
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7000 USD
CY2021 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
32265000 USD
CY2020 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
3376000 USD
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
682000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11484000 USD
CY2021 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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CY2020 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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13359000 USD
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4233000 USD
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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721382000 USD
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
23918000 USD
CY2021 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
212000 USD
CY2020 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
69000 USD
CY2021 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
2692000 USD
CY2020 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
1093000 USD
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10422000 USD
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
460000 USD
CY2021 fat Proceeds From Purchase Deposits On Refranchised Restaurants
ProceedsFromPurchaseDepositsOnRefranchisedRestaurants
1500000 USD
CY2020 fat Proceeds From Purchase Deposits On Refranchised Restaurants
ProceedsFromPurchaseDepositsOnRefranchisedRestaurants
0 USD
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
33000 USD
CY2020 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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-723200000 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36575000 USD
CY2021 us-gaap Proceeds From Debt Net Of Issuance Costs
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CY2020 us-gaap Proceeds From Debt Net Of Issuance Costs
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74294000 USD
CY2021 us-gaap Repayments Of Short Term Debt
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CY2020 us-gaap Repayments Of Short Term Debt
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24295000 USD
CY2021 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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26732000 USD
CY2020 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
8122000 USD
CY2021 fat Repayment Of Change In Operating Lease Liabilities
RepaymentOfChangeInOperatingLeaseLiabilities
3595000 USD
CY2020 fat Repayment Of Change In Operating Lease Liabilities
RepaymentOfChangeInOperatingLeaseLiabilities
816000 USD
CY2021 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
1075000 USD
CY2020 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
500000 USD
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2567000 USD
CY2020 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2021 us-gaap Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
0 USD
CY2020 us-gaap Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
742000 USD
CY2021 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
0 USD
CY2020 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
500000 USD
CY2021 fat Payments Of Ordinary Dividends Temporary Equity
PaymentsOfOrdinaryDividendsTemporaryEquity
2283000 USD
CY2020 fat Payments Of Ordinary Dividends Temporary Equity
PaymentsOfOrdinaryDividendsTemporaryEquity
0 USD
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7468000 USD
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
CY2021 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3559000 USD
CY2020 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
318000 USD
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-27000 USD
CY2020 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
815228000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
55245000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
92710000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7186000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7211000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
99921000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7211000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
14978000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
6403000 USD
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
842000 USD
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
167000 USD
CY2021 fat Director Fees Converted To Common Stock
DirectorFeesConvertedToCommonStock
15000 USD
CY2020 fat Director Fees Converted To Common Stock
DirectorFeesConvertedToCommonStock
240000 USD
CY2021 us-gaap Stock Issued1
StockIssued1
1564000 USD
CY2020 us-gaap Stock Issued1
StockIssued1
450000 USD
CY2021 fat Income Taxes Receivable Included In Amounts Due From Affiliates
IncomeTaxesReceivableIncludedInAmountsDueFromAffiliates
0 USD
CY2020 fat Income Taxes Receivable Included In Amounts Due From Affiliates
IncomeTaxesReceivableIncludedInAmountsDueFromAffiliates
-158000 USD
CY2017Q4 fat Initial Public Offering Percentage
InitialPublicOfferingPercentage
0.20
CY2021 fat Number Of Franchise Brands
NumberOfFranchiseBrands
17 franchise
CY2021Q4 us-gaap Number Of Stores
NumberOfStores
2369 location
CY2021 fat Number Of Franchise Units Worldwide
NumberOfFranchiseUnitsWorldwide
2240 franchise
CY2021Q4 fat Percent Of Total Restaurants Franchised
PercentOfTotalRestaurantsFranchised
0.95
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
800000 USD
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
-16300000 USD
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-52500000 USD
CY2021Q4 fat Working Capital
WorkingCapital
-80000000 USD
CY2021Q4 fat Current Portion Of Preferred Shares Net
CurrentPortionOfPreferredSharesNet
67500000 USD
CY2021Q4 fat Interest Rate On Unpaid Cash Proceeds Related To Acquisition
InterestRateOnUnpaidCashProceedsRelatedToAcquisition
0.100
CY2021Q4 us-gaap Cash
Cash
56700000 USD
CY2021 us-gaap Fiscal Period
FiscalPeriod
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Nature of operations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – The Company operates on a 52-week calendar and its fiscal year ends on the last Sunday of the calendar year. Consistent with the industry practice, the Company measures its stores’ performance based upon 7-day work weeks. Using the 52-week cycle ensures consistent weekly reporting for operations and ensures that each week has the same days, since certain days are more profitable than others. The use of this fiscal year means a 53</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">rd</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> week is added to the fiscal year every 5 or 6 years. In a 52-week year, all four quarters are comprised of 13 weeks. In a 53-week year, one extra week is added to the fourth quarter. Both fiscal 2021 and 2020 were 52-week years. Our revenues are derived from two sales channels, franchised restaurants and company owned locations, which we operate as one reportable segment.</span>
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of estimates in the preparation of the consolidated financial statements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the determination of fair values of goodwill and other intangible assets, the allocation of basis between assets acquired, sold or retained, allowances for uncollectible notes receivable and accounts receivable, and the valuation allowance related to deferred tax assets. Estimates and assumptions also affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span>
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial statement reclassification</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Certain account balances from prior periods have been reclassified in these consolidated financial statements to conform to current period classifications.</span>
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
Credit and Depository Risks – Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and accounts receivable. Management evaluates each of its franchisee’s financial condition prior to entry into a franchise or other agreement, as well as periodically through the term of the agreement, and believes that it has adequately provided for any exposure to potential credit losses. As of December 26, 2021 and December 27, 2020, accounts receivable, net of allowance for doubtful accounts, totaled $19.6 million and $4.2 million, with no franchisee representing more than 10% of that amount.
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
19600000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4200000 USD
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
24700000 USD
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
2900000 USD
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
18500000 USD
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
400000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4000000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
700000 USD
CY2021Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
500000 USD
CY2021Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
26 state
CY2021 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
366749000 USD
CY2020 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
314845000 USD
CY2021 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-22133000 USD
CY2020 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-75915000 USD
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
804000 USD
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
1352000 USD
CY2021Q4 fat Disposal Group Including Discontinued Operation Operating Lease Right Of Use Asset
DisposalGroupIncludingDiscontinuedOperationOperatingLeaseRightOfUseAsset
4672000 USD
CY2020Q4 fat Disposal Group Including Discontinued Operation Operating Lease Right Of Use Asset
DisposalGroupIncludingDiscontinuedOperationOperatingLeaseRightOfUseAsset
9479000 USD
CY2021Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
5476000 USD
CY2020Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
10831000 USD
CY2021Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
4800000 USD
CY2020Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
9900000 USD
CY2021Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
500000 USD
CY2021Q4 fat Trade Notes Receivable Reserves
TradeNotesReceivableReserves
400000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
483000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
143000 USD
CY2021 fat Property Plant And Equipment Business Combination Acquisitions
PropertyPlantAndEquipmentBusinessCombinationAcquisitions
77284000 USD
CY2020 fat Property Plant And Equipment Business Combination Acquisitions
PropertyPlantAndEquipmentBusinessCombinationAcquisitions
0 USD
CY2021 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
10675000 USD
CY2020 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
459000 USD
CY2021 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
5345000 USD
CY2020 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
39000 USD
CY2021 us-gaap Depreciation
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