$RAVE
RAVE RESTAURANT GROUP, INC.

2020 Q3 Form 10-Q Financial Statement

#000114036120025347 Filed on November 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $1.903M $2.876M
YoY Change -33.83% -3.84%
Cost Of Revenue $78.00K $134.0K
YoY Change -41.79% -15.72%
Gross Profit $1.825M $2.742M
YoY Change -33.44% -3.18%
Gross Profit Margin 95.9% 95.34%
Selling, General & Admin $1.120M $1.360M
YoY Change -17.65% -5.56%
% of Gross Profit 61.37% 49.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $44.00K $47.00K
YoY Change -6.38% -63.57%
% of Gross Profit 2.41% 1.71%
Operating Expenses $1.710M $2.270M
YoY Change -24.67% -13.69%
Operating Profit $115.0K $472.0K
YoY Change -75.64% 133.66%
Interest Expense $23.00K $27.00K
YoY Change -14.81% 8.0%
% of Operating Profit 20.0% 5.72%
Other Income/Expense, Net
YoY Change
Pretax Income $78.00K $310.0K
YoY Change -74.84% 96.2%
Income Tax $2.000K $73.00K
% Of Pretax Income 2.56% 23.55%
Net Earnings $76.00K $237.0K
YoY Change -67.93% 119.44%
Net Earnings / Revenue 3.99% 8.24%
Basic Earnings Per Share $0.00 $0.02
Diluted Earnings Per Share $0.00 $0.01
COMMON SHARES
Basic Shares Outstanding 15.45M 15.11M
Diluted Shares Outstanding 16.25M 15.92M

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.940M $2.420M
YoY Change 21.49% 20.4%
Cash & Equivalents $2.936M $2.421M
Short-Term Investments
Other Short-Term Assets $450.0K $530.0K
YoY Change -15.09% -35.37%
Inventory $6.000K
Prepaid Expenses
Receivables $1.012M $927.0K
Other Receivables $480.0K $600.0K
Total Short-Term Assets $4.920M $4.752M
YoY Change 3.54% -7.73%
LONG-TERM ASSETS
Property, Plant & Equipment $358.0K $482.0K
YoY Change -25.73% -65.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $4.220M
YoY Change -100.0% 13.75%
Total Long-Term Assets $4.612M $8.686M
YoY Change -46.9% 37.65%
TOTAL ASSETS
Total Short-Term Assets $4.920M $4.752M
Total Long-Term Assets $4.612M $8.686M
Total Assets $9.532M $13.44M
YoY Change -29.07% 17.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $890.0K $900.0K
YoY Change -1.11% 12.5%
Accrued Expenses $685.0K $762.0K
YoY Change -10.1% -9.29%
Deferred Revenue $293.0K $266.0K
YoY Change 10.15%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.512M $2.456M
YoY Change 2.28% 16.95%
LONG-TERM LIABILITIES
Long-Term Debt $2.210M $1.530M
YoY Change 44.44% -2.55%
Other Long-Term Liabilities $51.00K $51.00K
YoY Change 0.0% -98.22%
Total Long-Term Liabilities $51.00K $51.00K
YoY Change 0.0% -98.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.512M $2.456M
Total Long-Term Liabilities $51.00K $51.00K
Total Liabilities $8.956M $8.705M
YoY Change 2.88% 33.31%
SHAREHOLDERS EQUITY
Retained Earnings -$8.640M -$4.246M
YoY Change 103.49%
Common Stock $33.75M $33.52M
YoY Change 0.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.54M $24.54M
YoY Change 0.0%
Treasury Stock Shares $7.085M $7.085M
Shareholders Equity $576.0K $4.733M
YoY Change
Total Liabilities & Shareholders Equity $9.532M $13.44M
YoY Change -29.07% 17.26%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $76.00K $237.0K
YoY Change -67.93% 119.44%
Depreciation, Depletion And Amortization $44.00K $47.00K
YoY Change -6.38% -63.57%
Cash From Operating Activities -$7.000K $132.0K
YoY Change -105.3% -77.63%
INVESTING ACTIVITIES
Capital Expenditures $27.00K $17.00K
YoY Change 58.82% 70.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $40.00K
YoY Change -100.0%
Cash From Investing Activities -$23.00K $27.00K
YoY Change -185.19% -550.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.000K -2.000K
YoY Change 50.0% -105.56%
NET CHANGE
Cash From Operating Activities -7.000K 132.0K
Cash From Investing Activities -23.00K 27.00K
Cash From Financing Activities -3.000K -2.000K
Net Change In Cash -33.00K 157.0K
YoY Change -121.02% -74.68%
FREE CASH FLOW
Cash From Operating Activities -$7.000K $132.0K
Capital Expenditures $27.00K $17.00K
Free Cash Flow -$34.00K $115.0K
YoY Change -129.57% -80.17%

Facts In Submission

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CY2020Q3 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="text-align: justify; color: #000000; font-weight: bold;">Use of Management Estimates</div><div style="text-align: justify; color: #000000;">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>
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15451000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15106000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15924000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16249000
CY2020Q3 dei Amendment Flag
AmendmentFlag
false
CY2020Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-27
CY2020Q3 dei Document Period End Date
DocumentPeriodEndDate
2020-09-27
CY2020Q3 dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
CY2020Q3 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2020Q3 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2020Q3 dei Entity Registrant Name
EntityRegistrantName
RAVE RESTAURANT GROUP, INC.
CY2020Q3 dei Entity Central Index Key
EntityCentralIndexKey
0000718332
CY2020Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
18004904
CY2020Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2020Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2020Q3 dei Document Type
DocumentType
10-Q
CY2020Q3 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2020Q3 dei Entity Shell Company
EntityShellCompany
false
CY2020Q3 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2020Q3 dei Entity Small Business
EntitySmallBusiness
true
CY2019Q3 rave Provision For Doubtful Accounts From Accounts Receivable
ProvisionForDoubtfulAccountsFromAccountsReceivable
-8000
CY2020Q3 rave Provision For Doubtful Accounts From Accounts Receivable
ProvisionForDoubtfulAccountsFromAccountsReceivable
27000
CY2020Q3 rave Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
146000
CY2019Q3 rave Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
115000
CY2019Q3 rave Accounts Payable Lease Termination Impairments
AccountsPayableLeaseTerminationImpairments
-373000
CY2020Q3 rave Accounts Payable Lease Termination Impairments
AccountsPayableLeaseTerminationImpairments
-3000
CY2020Q3 rave Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
152000
CY2019Q3 rave Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
120000
CY2019Q3 rave Increase Decrease In Deferred Rent And Other
IncreaseDecreaseInDeferredRentAndOther
-21000
CY2020Q3 rave Increase Decrease In Deferred Rent And Other
IncreaseDecreaseInDeferredRentAndOther
0
CY2019Q3 rave Increase Decrease In Deposits And Other
IncreaseDecreaseInDepositsAndOther
1000
CY2020Q3 rave Increase Decrease In Deposits And Other
IncreaseDecreaseInDepositsAndOther
5000
CY2020Q3 rave Operating Lease Liability At Adoption
OperatingLeaseLiabilityAtAdoption
0
CY2019Q3 rave Operating Lease Liability At Adoption
OperatingLeaseLiabilityAtAdoption
3875000
CY2020Q3 rave Operating Lease Right Of Use Assets At Adoption
OperatingLeaseRightOfUseAssetsAtAdoption
0
CY2019Q3 rave Operating Lease Right Of Use Assets At Adoption
OperatingLeaseRightOfUseAssetsAtAdoption
3428000
CY2020Q3 rave Accounts Payable Lease Termination Impairments Current
AccountsPayableLeaseTerminationImpairmentsCurrent
421000
CY2020Q2 rave Accounts Payable Lease Termination Impairments Current
AccountsPayableLeaseTerminationImpairmentsCurrent
407000
CY2020Q2 rave Paycheck Protection Program Loan
PaycheckProtectionProgramLoan
657000
CY2020Q3 rave Paycheck Protection Program Loan
PaycheckProtectionProgramLoan
657000
CY2020Q3 rave Lessee Operating Lease Number Of Subleases
LesseeOperatingLeaseNumberOfSubleases
2
CY2020Q3 rave Lessee Operating Lease Liability To Be Paid After Year Three
LesseeOperatingLeaseLiabilityToBePaidAfterYearThree
1448000
CY2019Q2 rave Operating Lease Deferred Rent Tenant Improvements Amount
OperatingLeaseDeferredRentTenantImprovementsAmount
302000
CY2019Q2 rave Operating Lease Deferred Rent Recorded For Lease Incentives
OperatingLeaseDeferredRentRecordedForLeaseIncentives
132000
CY2019Q2 rave Percentage Of Change To Liabilities Of Operating Leases
PercentageOfChangeToLiabilitiesOfOperatingLeases
0.64
CY2019Q2 rave Percentage Of Change To Assets Of Operating Leases
PercentageOfChangeToAssetsOfOperatingLeases
0.3

Files In Submission

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0001140361-20-025347-index-headers.html Edgar Link pending
0001140361-20-025347-index.html Edgar Link pending
0001140361-20-025347.txt Edgar Link pending
0001140361-20-025347-xbrl.zip Edgar Link pending
brhc10016702_10q.htm Edgar Link pending
brhc10016702_ex31-1.htm Edgar Link pending
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rave-20200927.xml Edgar Link completed
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