NOTE 11 - COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

(11) - COMMITMENTS AND CONTINGENCIES

(11) COMMITMENTS AND CONTINGENCIES

a) Real Property Leases

The Company leases 5 (five) restaurant spaces from unrelated parties. Rent expense paid was $211,294 and $218,120 for the six months ended June 30, 2018 and 2017.

Future minimum lease payments under these real property lease agreements are as follows:

For the Year Ending December 31,	ESSE	IBE	IBA	IBWS	IBCH	Total
2018 (6 months)	$ 24,000	$ 16,800	$ 36,308	$ 49,054	$ 32,756	$ 158,917
2019	$ 36,000	$ 25,200	$ 74,795	$ 102,643	$ 67,477	$ 306,115
2020	$ -	$ -	$ 77,038	$ 102,643	$ 69,501	$ 249,182
2021	$ -	$ -	$ 25,931	$ 102,643	$ 23,394	$ 151,968
2022	$ -	$ -	$ -	$ 102,643	$ -	$ 102,643
Thereafter	$ -	$ -	$ -	$ 321,616	$ -	$ 321,616
Total minimum lease payments	$ 60,000	$ 42,000	$ 214,072	$ 781,242	$ 193,128	$ 1,290,441

ESSE: El Senor Sol - Evergreen; IBE: Illegal Burger - Evergreen; IBA: Illegal Burger - Arvada; IBWS - Illegal Burger - Writer Square; IBCH - Illegal Burger - Capital Hill

The Company’s leases for El Senor Sol B Evergreen and Illegal Burger B Evergreen locations expired on August 31, 2017. The Company is currently leasing on a month to month basis and in August 2018 signed a new one year lease term for these locations.

b) Other

The Company is subject to asserted claims and liabilities that arise in the ordinary course of business. The Company maintains insurance policies to mitigate potential losses from these actions. In the opinion of management, the amount of the ultimate liability with respect to those actions will not materially affect the Company’s financial position or results of operations.