Total revenue 9,152,530 6,714,429 3,015,525 2,025,386
---------- ---------- ---------- ---------
Restaurant
operating
expenses:
Food, beverages
and supplies 2,362,515 1,787,046 853,943 557,705
Labor 4,125,195 3,129,198 1,344,534 1,125,717
Rent and
utilities 1,262,963 840,389 493,667 285,013
Delivery and
service fees 398,986 415,139 118,070 130,189
Depreciation 596,701 396,388 246,374 144,701
---------- ---------- ---------- ---------
Total restaurant
operating
expenses 8,746,360 6,568,160 3,056,588 2,243,325
---------- ---------- ---------- ---------
Net operating
restaurant
operating income
(loss) 406,170 146,269 (41,063) (217,939)
---------- ---------- ---------- ---------
Operating
expenses:
General and
administrative 2,953,755 2,700,078 935,591 477,732
Related party
compensation 139,769 216,308 50,000 92,876
Advertising and
marketing 80,955 86,593 22,391 34,051
---------- ---------- ---------- ---------
Total operating
expenses 3,174,479 3,002,979 1,007,982 604,659
---------- ---------- ---------- ---------
Loss from
operations (2,768,309) (2,856,710) (1,049,045) (822,598)
Other income
(expense):
Gain on disposal
of fixed asset - 8,920 - -
Other income 12,207 14,774 - 7,784
Interest (413,598) (186,877) (161,472) (48,049)
---------- ---------- ---------- ---------
Total other income
(expense), net (401,391) (163,183) (161,472) (40,265)
---------- ---------- ---------- ---------
Loss before income
taxes (3,169,700) (3,019,893) (1,210,517) (862,863)
Income tax
provision 33,437 29,068 11,599 22,080
---------- ---------- ---------- ---------
Net loss $(3,203,137) $(3,048,961) $(1,222,116) $ (884,943)
========== ========== ========== =========
Loss per share:
Basic and
diluted $ (2.39) (2.29) (0.91) (0.67)
========== ========== ========== =========
Weighted average
number of common
shares
outstanding:
Basic and
diluted 1,342,585 1,328,847 1,343,537 1,328,847
---------- ---------- ---------- ---------
Yoshiharu Global Co.
Unaudited Consolidated Statements of Cash Flows
For the nine months ended
September 30,
-----------------------------
2024 2023
--------------- -----------
Cash flows from operating
activities:
Net loss $ (3,203,137) $(3,048,961)
Adjustments to reconcile net income
to net cash provided by operating
activities:
Depreciation 596,701 396,388
Amortization 26,552 -
Gain on disposal of fixed asset - (8,920)
Changes in assets and
liabilities:
Accounts receivable (36,397) -
Inventories (3,654) 390
Other assets 825,960 (564,775)
Accounts payable and accrued
expenses 199,483 (3,118)
Due to related party 1,746,620 (142,106
Other payables 1,012,591 59,785
----------- ----------
Net cash provided by (used in)
operating activities 1,164,719 (3,311,317)
----------- ----------
Cash flows from investing
activities:
Purchases of property and
equipment (437,042) (1,339,132)
Acquisition of LV entities (1,800,000) -
----------- ----------
Net cash used in investing
activities (2,237,042) (1,339,132)
----------- ----------
Cash flows from financing
activities:
Advance from line of credit - 500,000
Proceeds from borrowings for
acquisition of LV entities 900,000 812,000
Proceeds from borrowings 1,138,164 -
Repayments on bank notes
payables (451,655) (645,280)
Repayment of loan payable to
financial institutions (414,300) -
Proceeds from sale of common
shares 149,852 -
----------- ----------
Net cash provided by financing
activities 1,322,061 666,720
----------- ----------
Net increase (decrease) in cash 249,738 (3,983,729)
Cash -- beginning of period 1,462,326 6,138,786
----------- ----------
Cash -- end of period $ 1,712,064 $ 2,155,057
----------- ----------
Supplemental disclosures of
non-cash financing activities:
Note payable to related party $ 600,000 -
Convertible notes to related
party $ 1,200,000 -
Supplemental disclosures of cash
flow information
Cash paid during the periods
for:
Interest $ 401,861 $ 186,877
Income taxes $ 33,437 $ 29,068
----------- --
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November 19, 2024 16:54 ET (21:54 GMT)
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