10-K Filing

FAT BRANDS, INC CIK: 1705012 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001493152-18-004457`
Period End Date	20171231
Filing Date	20180402
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	fat-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 22 Cash Flow Statement 31 Stockholders Equity 9

Balance Sheet 38 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$679.00K	USD	Point-in-time
Trade notes receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$17.00K	USD	Point-in-time
Cash	`Cash`	$32.00K	USD	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Trade notes receivable - noncurrent, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableNoncurrent`	$17.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for $679 for doubtful accounts	`AccountsReceivableNetCurrent`	$918.00K	USD	Point-in-time
Trade notes receivable, net of allowance of $17 for doubtful accounts	`TradeNotesReceivableCurrent`	$77.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$153.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.18M	USD	Point-in-time
Trade notes receivable noncurrent, net of allowance of $17 for doubtful accounts	`TradeNotesReceivableNoncurrent`	$346.00K	USD	Point-in-time
Due from affiliates	`DueFromAffiliates`	$7.96M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$937.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$11.01M	USD	Point-in-time
Goodwill	`Goodwill`	$7.36M	USD	Point-in-time
Goodwill	`Goodwill`	$1.46M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.00K	USD	Point-in-time
Buffalos creative and advertising fund	`BuffalosCreativeAndAdvertisingFundNoncurrent`	$436.00K	USD	Point-in-time
Total assets	`Assets`	$29.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.44M	USD	Point-in-time
Deferred income	`DeferredTaxLiabilitiesCurrent`	$1.77M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.76M	USD	Point-in-time
Accrued advertising	`AccruedAdvertisingCurrent`	$348.00K	USD	Point-in-time
Accrued interest payable to FCCG	`InterestPayableCurrent`	$405.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.72M	USD	Point-in-time
Deferred income	`DeferredTaxLiabilitiesNoncurrent`	$1.94M	USD	Point-in-time
Notes payable to FCCG	`LongTermNotesPayable`	$18.12M	USD	Point-in-time
Buffalos creative and advertising fund-contra	`BuffalosCreativeAndAdvertisingFundcontraNoncurrent`	$436.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$27.23M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.0001 par value; 25,000,000 shares authorized; 10,000,000 shares issued and outstanding	`CommonStockValue`	$2.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-613.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.01M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$29.24M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Royalties	`RoyaltyRevenue`	$2.02M	USD	3 Qtrs
Franchise fees	`InitialFranchiseFees`	$140.00K	USD	3 Qtrs
Management fees	`ManagementFeeExpense`	$-10.00K	USD	3 Qtrs
Total revenue	`Revenues`	$2.17M	USD	3 Qtrs
Compensation and employee benefits	`EmployeeBenefitsAndShareBasedCompensation`	$1.34M	USD	3 Qtrs
Travel and entertainment	`TravelAndEntertainmentExpense`	$110.00K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$117.00K	USD	3 Qtrs
Other	`OtherGeneralAndAdministrativeExpense`	$559.00K	USD	3 Qtrs
Total general and administrative expenses	`GeneralAndAdministrativeExpense`	$2.12M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$50.00K	USD	3 Qtrs
Interest Income	`InterestIncomeOther`	$200.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$405.00K	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-51.00K	USD	3 Qtrs
Total non-operating income (expense)	`NonoperatingIncomeExpense`	$-256.00K	USD	3 Qtrs
Loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-206.00K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$407.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-613.00K	USD	3 Qtrs
Basic loss per share	`EarningsPerShareBasic`	$-0.07	USD	3 Qtrs
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	8.51M	shares	3 Qtrs
Diluted loss per share	`EarningsPerShareDiluted`	$-0.07	USD	3 Qtrs
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.51M	shares	3 Qtrs
Dividends declared per share	`PreferredStockDividendsPerShareDeclared`	-	USD	3 Qtrs

Cash Flow Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-613.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$232.00K	USD	3 Qtrs
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$124.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$23.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$89.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$221.00K	USD	3 Qtrs
Trade notes receivable	`IncreaseDecreaseInNotesReceivableCurrent`	$-8.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$145.00K	USD	3 Qtrs
Accounts payables	`IncreaseDecreaseInAccountsPayable`	$808.00K	USD	3 Qtrs
Accrued expense	`IncreaseDecreaseInAccruedLiabilities`	$796.00K	USD	3 Qtrs
Accrued advertising	`IncreaseDecreaseInAccruedAdvertising`	$43.00K	USD	3 Qtrs
Accrued interest payable to FCCG	`IncreaseDecreaseInInterestPayableNet`	$405.00K	USD	3 Qtrs
Deferred income	`IncreaseDecreaseInDeferredIncomeTaxes`	$50.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.11M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.50M	USD	3 Qtrs
Investment in subsidiary, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$10.52M	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$7.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.52M	USD	3 Qtrs
Repayments of loans from FCCG	`RepaymentsOfDebt`	$11.88M	USD	3 Qtrs
Proceeds from issuance of common stock from initial public offering, net of issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	$20.93M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.05M	USD	3 Qtrs
Net increase in cash	`CashPeriodIncreaseDecrease`	$32.00K	USD	3 Qtrs
Cash at beginning of year	`Cash`	$32.00K	USD	Point-in-time
Cash at beginning of year	`Cash`	-	USD	Point-in-time
Cash at end of year	`Cash`	$32.00K	USD	Point-in-time
Cash at end of year	`Cash`	-	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$17.00K	USD	3 Qtrs
Note payable issued in exchange for contributed subsidiaries	`NotesIssued1`	$30.00M	USD	3 Qtrs
Net non-cash assets received from FCCG	`NetNoncashAssetsReceived`	$11.57M	USD	3 Qtrs
Income taxes payable offset against amounts due from affiliates	`IncomeTaxesPayableOffsetAgainstAmountsDueFromAffiliates`	$134.00K	USD	3 Qtrs

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance, Beginning	`StockholdersEquity`	-	USD	Point-in-time
Balance, Beginning	`StockholdersEquity`	$2.01M	USD	Point-in-time
Forward split of common stock	`StockIssuedDuringPeriodValueStockSplits`	-	USD	3 Qtrs
Issuance of shares	`StockIssuedDuringPeriodValueNewIssues`	$20.93M	USD	3 Qtrs
Distribution to FCCG in excess of historical cost basis of assets received	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$-18.40M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-613.00K	USD	3 Qtrs
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$89.00K	USD	3 Qtrs
Balance, Ending	`StockholdersEquity`	-	USD	Point-in-time
Balance, Ending	`StockholdersEquity`	$2.01M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.