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BASIS OF PRESENTATION
9 Months Ended
Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION
NOTE 1 –BASIS OF PRESENTATION
 
Basis of Presentation

Southern Concepts Restaurant Group, Inc. ("SCRG"), a Colorado corporation, together with its subsidiaries (collectively the "Company") develops and operates full-service restaurants and a fast casual restaurant.  SCRG was formed on January 29, 2008. The Company, on March 9, 2015, with the approval of a majority of the Company's shareholders, changed its name from Bourbon Brothers Holding Corporation to Southern Concepts Restaurant Group, Inc. As of September 30, 2016, the Company operates three of its Southern Hospitality branded restaurants in Denver, Lone Tree and Colorado Springs, Colorado. The Company has developed a fast casual concept, in which the Company opened its first fast casual restaurant, Carve Barbecue, in November 2015.

The Company operates and manages restaurants through its wholly-owned and majority-owned subsidiaries, including:
SH Franchisee & Licensing Corp. ("SH")
Southern Hospitality Denver Holdings, LLC ("SHDH")
Southern Hospitality Denver, LLC ("SHD")
Southern Hospitality Lone Tree, LLC ("SHLT")
Carve Restaurant Group, LLC ("CRG")
Carve BBQ Glendale, LLC ("CARVEG")
Southern Hospitality Southern Kitchen Colorado Springs, LLC ("SHSK")
Bourbon Brothers Holding Company, LLC ("BBHCLLC")
Bourbon Brothers Restaurant Group, LLC ("BBRG")

The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles for interim financial statements and pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of its financial position and results of operations. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year. The unaudited condensed consolidated financial statements and related notes do not include all information and footnotes required by U.S. generally accepted accounting principles for annual reports. This quarterly report should be read in conjunction with the consolidated financial statements included in the Company's annual report on Form 10-K for the year ended December 31, 2015.

Management's Plans

During 2016, the Company continues to explore options for growth for the Company's two brands, Southern Hospitality and Carve Barbecue, and scouting locations for the kitchen-less concept it is looking to open in Q1 2017.  The Company is looking for opportunities for the Southern Hospitality concept with a footprint of 4,000 to 5,000 square feet.  The Company is identifying real estate partners and locations for Carve Barbecue's approximately 2,500 square feet footprint. The Company is in the process of identifying 500 to 1,000 square ft. locations for the kitchen-less concept development in the first and second quarters of 2017.  As of September 30, 2016, the Company had incurred losses in the first three quarters of 2016. The Company's continued implementation of its business plan is dependent on its future profitability and on additional debt or equity financing. The Company believes the individual store performances reflect an ongoing effort to curb costs within food and labor, while also pursuing marketing activities to increase revenues during the remainder of 2016 at all restaurant locations while also curtailing expenses at the corporate level.

The accompanying interim unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company reported a net loss of approximately $0.9 million, $2.8 million, $1.0 million and $2.9 million for the three and nine month periods ended September 30, 2016 and 2015, respectively, and has an accumulated deficit of approximately $14.5 million at September 30, 2016. The interim unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.