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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 27, 2020
Dec. 29, 2019
Cash flows from operating activities    
Net loss $ (14,860) $ (1,018)
Adjustments to reconcile net loss to net cash (used in) provided by operations:    
Deferred income taxes (4,077) 204
Depreciation and amortization 1,172 785
Impairment of goodwill and other intangible assets 9,295
Share-based compensation 99 262
Loss on extinguishment of debt 88
Change in fair value of derivative liability (887)
Gain on contingent consideration payable adjustment (1,680)
Change in operating right of use assets 1,255 683
Net loss (gain) on disposition of refranchising restaurants 55 (1,795)
Accretion of loan fees and interest 973 1,883
Accretion of preferred shares 62 65
Accretion of purchase price liability 481 557
Provision for bad debts 981 77
Change in:    
Accounts receivable 554 (723)
Trade and other notes receivable 83
Accrued interest receivable from affiliate (3,631) (1,528)
Prepaid expenses (992) 118
Other 7 (118)
Accounts payable (9) 3,128
Accrued expense (1,678) 643
Accrued advertising 1,398 203
Accrued interest payable 585 (982)
Dividend payable on preferred shares (531) 1,431
Deferred income (144) (2,364)
Total adjustments 3,376 2,612
Net cash (used in) provided by operating activities (11,484) 1,594
Cash flows from investing activities    
Change in due from affiliates (13,359) (8,976)
Acquisition of subsidiary, net of cash acquired (23,918) (2,332)
Proceeds from sale of refranchised restaurants 1,093 2,340
Purchases of property and equipment (460) (45)
Other 69
Net cash used in investing activities (36,575) (9,013)
Cash flows from financing activities    
Proceeds from borrowings and associated warrants, net of issuance costs 74,294 23,022
Repayments of borrowings (24,295) (16,726)
Proceeds from preferred stock offering and associated warrants, net of issuance costs 8,122 1,107
Change in operating lease liabilities (816) (530)
Payments made on acquisition purchase price liability (500)
Redemption of preferred stock (500)
Repurchase of warrants (742)
Dividends paid in cash (318) (2)
Other (80)
Net cash provided by financing activities 55,245 6,791
Net increase (decrease) in cash, cash equivalents and restricted cash 7,186 (628)
Cash, cash equivalents and restricted cash at beginning of year 25 653
Cash, cash equivalents and restricted cash at end of year 7,211 25
Supplemental disclosures of cash flow information:    
Cash paid for interest 6,403 5,989
Cash paid for income taxes 167 244
Supplemental disclosure of non-cash financing and investing activities:    
Director fees converted to common stock 240 360
Income taxes (receivable) payable included in amounts due from affiliates $ (158) $ 51