v3.23.3
Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 2,525,392 $ 6,509,121
Inventories 60,509 60,899
Total current assets 2,585,901 6,570,020
Non-Current Assets:    
Property and equipment, net 4,110,092 3,158,428
Operating lease right-of-use asset 5,579,765 5,980,888
Other assets 873,128 308,353
Total non-current assets 10,562,985 9,447,669
Total assets 13,148,886 16,017,689
Current liabilities:    
Accounts payable and accrued expenses 666,563 744,101
Line of credit 800,000 300,000
Current portion of operating lease liabilities 556,106 458,803
Current portion of bank notes payables 93,859 265,943
Current portion of loan payable, EIDL 33,819 39,652
Other payables 65,700 5,915
Total current liabilities 2,246,661 1,987,134
Operating lease liabilities, less current portion 5,837,761 6,261,767
Bank notes payables, less current portion 1,380,296 1,020,143
Restaurant revitalization fund 700,454 700,454
Loan payable, EIDL, less current portion 394,832 410,348
Total liabilities 10,560,004 10,379,846
Commitments and Contingencies
Stockholders’ equity    
Additional paid-in capital 11,936,958 11,936,958
Accumulated deficit (9,349,370) (6,300,409)
Total stockholders’ equity 2,588,882 5,637,843
Total liabilities and stockholders’ equity 13,148,886 16,017,689
Common Class A [Member]    
Stockholders’ equity    
Common stock value 1,194 1,194
Common Class B [Member]    
Stockholders’ equity    
Common stock value 100 100
Related Party [Member]    
Current liabilities:    
Due to related party $ 30,614 $ 172,720

Source