$RAVE
RAVE RESTAURANT GROUP, INC.

2019 Q3 Form 10-Q Financial Statement

#000114036119020399 Filed on November 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $2.876M $2.991M
YoY Change -3.84% -44.92%
Cost Of Revenue $134.0K $159.0K
YoY Change -15.72% -92.39%
Gross Profit $2.742M $2.832M
YoY Change -3.18% -15.46%
Gross Profit Margin 95.34% 94.68%
Selling, General & Admin $1.360M $1.440M
YoY Change -5.56% -37.12%
% of Gross Profit 49.6% 50.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $47.00K $129.0K
YoY Change -63.57% -58.39%
% of Gross Profit 1.71% 4.56%
Operating Expenses $2.270M $2.630M
YoY Change -13.69% -18.83%
Operating Profit $472.0K $202.0K
YoY Change 133.66% 83.64%
Interest Expense $27.00K $25.00K
YoY Change 8.0% -135.71%
% of Operating Profit 5.72% 12.38%
Other Income/Expense, Net
YoY Change
Pretax Income $310.0K $158.0K
YoY Change 96.2% -231.67%
Income Tax $73.00K $50.00K
% Of Pretax Income 23.55% 31.65%
Net Earnings $237.0K $108.0K
YoY Change 119.44% -130.0%
Net Earnings / Revenue 8.24% 3.61%
Basic Earnings Per Share $0.02 $0.01
Diluted Earnings Per Share $0.01 $0.01
COMMON SHARES
Basic Shares Outstanding 15.11M 15.06M
Diluted Shares Outstanding 15.92M 15.90M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.420M $2.010M
YoY Change 20.4% -49.5%
Cash & Equivalents $2.421M $2.006M
Short-Term Investments
Other Short-Term Assets $530.0K $820.0K
YoY Change -35.37% 18.84%
Inventory $6.000K $10.00K
Prepaid Expenses
Receivables $927.0K $2.310M
Other Receivables $600.0K $10.00K
Total Short-Term Assets $4.752M $5.150M
YoY Change -7.73% -37.95%
LONG-TERM ASSETS
Property, Plant & Equipment $482.0K $1.390M
YoY Change -65.32% -65.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.220M $3.710M
YoY Change 13.75% 1445.83%
Total Long-Term Assets $8.686M $6.310M
YoY Change 37.65% 38.68%
TOTAL ASSETS
Total Short-Term Assets $4.752M $5.150M
Total Long-Term Assets $8.686M $6.310M
Total Assets $13.44M $11.46M
YoY Change 17.26% -10.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $900.0K $800.0K
YoY Change 12.5% -77.59%
Accrued Expenses $762.0K $840.0K
YoY Change -9.29% -23.64%
Deferred Revenue $266.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.456M $2.100M
YoY Change 16.95% -65.06%
LONG-TERM LIABILITIES
Long-Term Debt $1.530M $1.570M
YoY Change -2.55% -41.42%
Other Long-Term Liabilities $51.00K $2.870M
YoY Change -98.22% 83.97%
Total Long-Term Liabilities $51.00K $4.440M
YoY Change -98.85% 4.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.456M $2.100M
Total Long-Term Liabilities $51.00K $4.440M
Total Liabilities $8.705M $6.530M
YoY Change 33.31% -36.23%
SHAREHOLDERS EQUITY
Retained Earnings -$4.246M
YoY Change
Common Stock $33.52M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.54M
YoY Change
Treasury Stock Shares $7.085M
Shareholders Equity $4.733M $4.922M
YoY Change
Total Liabilities & Shareholders Equity $13.44M $11.46M
YoY Change 17.26% -10.82%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $237.0K $108.0K
YoY Change 119.44% -130.0%
Depreciation, Depletion And Amortization $47.00K $129.0K
YoY Change -63.57% -58.39%
Cash From Operating Activities $132.0K $590.0K
YoY Change -77.63% -156.19%
INVESTING ACTIVITIES
Capital Expenditures $17.00K $10.00K
YoY Change 70.0% -102.7%
Acquisitions
YoY Change
Other Investing Activities $40.00K $0.00
YoY Change
Cash From Investing Activities $27.00K -$6.000K
YoY Change -550.0% -98.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $36.00K
YoY Change -100.0% -99.27%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.000K 36.00K
YoY Change -105.56% -99.27%
NET CHANGE
Cash From Operating Activities 132.0K 590.0K
Cash From Investing Activities 27.00K -6.000K
Cash From Financing Activities -2.000K 36.00K
Net Change In Cash 157.0K 620.0K
YoY Change -74.68% -82.39%
FREE CASH FLOW
Cash From Operating Activities $132.0K $590.0K
Capital Expenditures $17.00K $10.00K
Free Cash Flow $115.0K $580.0K
YoY Change -80.17% -185.29%

Facts In Submission

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CY2019Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
346000
CY2018Q3 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0
CY2019Q3 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
44000
CY2018Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
36000
CY2019Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2019Q3 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0
CY2018Q3 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
4000
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
482000
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4483000
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4246000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2991000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2876000
CY2019Q3 us-gaap Sublease Income
SubleaseIncome
41000
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
0
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
101000
CY2018Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0
CY2019Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
64000
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
36000
CY2018Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2019Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2019Q2 rave Percentage Of Change To Assets Of Operating Leases
PercentageOfChangeToAssetsOfOperatingLeases
0.3
CY2019Q2 rave Percentage Of Change To Liabilities Of Operating Leases
PercentageOfChangeToLiabilitiesOfOperatingLeases
0.64
CY2019Q2 rave Operating Lease Deferred Rent Recorded For Lease Incentives
OperatingLeaseDeferredRentRecordedForLeaseIncentives
132000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
4434000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
4733000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
6299000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
4922000
CY2019Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
7085254
CY2019Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
7117304
CY2019Q2 us-gaap Treasury Stock Value
TreasuryStockValue
24632000
CY2019Q3 us-gaap Treasury Stock Value
TreasuryStockValue
24537000
CY2019Q3 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; margin-left: 36pt; font-weight: bold;">Use of Management Estimates</div><div style="text-align: justify; margin-left: 36pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires the Company&#8217;s management to make estimates and assumptions that affect its reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent liabilities. The Company bases its estimates on historical experience and other various assumptions that it believes are reasonable under the circumstances. Estimates and assumptions are reviewed periodically, and actual results could differ materially from estimates.</div></div>
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15064000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15106000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15897000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15924000
CY2019Q3 rave Increase Decrease In Accrued Liabilities Deferred Rent And Other
IncreaseDecreaseInAccruedLiabilitiesDeferredRentAndOther
-68000
CY2018Q3 rave Increase Decrease In Accrued Liabilities Deferred Rent And Other
IncreaseDecreaseInAccruedLiabilitiesDeferredRentAndOther
-274000
CY2018Q3 rave Increase Decrease In Prepaid Expense Deposits And Other Assets
IncreaseDecreaseInPrepaidExpenseDepositsAndOtherAssets
79000
CY2019Q3 rave Increase Decrease In Prepaid Expense Deposits And Other Assets
IncreaseDecreaseInPrepaidExpenseDepositsAndOtherAssets
-44000
CY2018Q3 rave Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
0
CY2019Q3 rave Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
115000
CY2019Q3 rave Accounts Payable Lease Termination Impairments
AccountsPayableLeaseTerminationImpairments
-373000
CY2018Q3 rave Accounts Payable Lease Termination Impairments
AccountsPayableLeaseTerminationImpairments
0
CY2019Q3 rave Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
120000
CY2018Q3 rave Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
0
CY2019Q3 rave Accounts Payable Lease Termination Impairments Current
AccountsPayableLeaseTerminationImpairmentsCurrent
607000
CY2019Q2 rave Accounts Payable Lease Termination Impairments Current
AccountsPayableLeaseTerminationImpairmentsCurrent
832000
CY2019Q3 rave Adjusted Net Income Loss
AdjustedNetIncomeLoss
253000
CY2018Q3 rave Adjusted Net Income Loss
AdjustedNetIncomeLoss
125000
CY2019Q3 rave Lessee Operating Lease Number Of Subleases
LesseeOperatingLeaseNumberOfSubleases
2
CY2019Q2 rave Operating Lease Deferred Rent Tenant Improvements Amount
OperatingLeaseDeferredRentTenantImprovementsAmount
302000

Files In Submission

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0001140361-19-020399.txt Edgar Link pending
0001140361-19-020399-xbrl.zip Edgar Link pending
ex31_1.htm Edgar Link pending
ex31_2.htm Edgar Link pending
ex32_1.htm Edgar Link pending
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form10q.htm Edgar Link pending
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rave-20190929.xml Edgar Link completed
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