Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Apr. 17, 2018 | Jun. 30, 2017 | |
FIXED ASSETS [Abstract] | |||
Entity Registrant Name | WEST COAST VENTURES GROUP CORP. | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 32,203,271 | ||
Entity Public Float | $ 6,757,453 | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,551,906 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
CURRENT ASSETS: | ||
Cash | $ 0 | $ 76,487 |
Receivables | 32,020 | 0 |
Inventory | 17,163 | 15,541 |
Prepaid expenses | 18,245 | 26,063 |
Assets of discontinued operations | 2,461 | 0 |
Total current assets | 69,889 | 118,091 |
FIXED ASSETS | ||
Equipment | 235,738 | 235,738 |
Leasehold improvements | 172,587 | 158,787 |
Total fixed assets | 408,325 | 394,525 |
Less: accumulated depreciation | (171,267) | (112,272) |
Net total fixed assets | 237,058 | 282,252 |
OTHER ASSETS | ||
Deposits and other assets | 29,347 | 16,747 |
Intangibles assets, net | 121,760 | 128,870 |
Total other assets | 151,107 | 145,617 |
Total assets | 458,054 | 545,961 |
Current Liabilities: | ||
Accounts payable | 128,312 | 25,637 |
Accrued expenses | 433,534 | 261,277 |
Deferred rent | 50,688 | 46,823 |
Stockholder loan | 90,675 | 76,535 |
Notes payable to third parties | 661,858 | 770,280 |
Convertible notes payable to third parties, net of discounts | 45,231 | 0 |
Fair value of derivative liabilities | 251,438 | 0 |
Liabilities of discontinued operations | 481,558 | 0 |
Total Current Liabilities | 2,143,294 | 1,180,552 |
Total Liabilities | 2,143,294 | 1,180,552 |
Stockholders' Deficit: | ||
Series A Preferred stock, $0.001 par value, 10,000,000 shares authorized, 500,000 and 0 Series A issued and outstanding | 500 | 0 |
Common stock, $0.001 par value, authorized 250,000,000 shares; 30,506,544 and 14,976,544 issued and outstanding, respectively | 30,557 | 14,977 |
Additional paid-in capital | 189,029 | 619,362 |
Accumulated deficit | (1,905,326) | (1,267,930) |
Total Stockholders' Deficit | (1,685,240) | (633,480) |
Total Liabilities and Stockholders' Deficit | $ 58,054 | $ 545,961 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Preferred Stock | ||
Preferred stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in Shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in Shares) | 500,000 | 0 |
Preferred stock, shares outstanding (in Shares) | 500,000 | 0 |
Common Stock | ||
Common stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in Shares) | 250,000,000 | 250,000,000 |
Common stock, shares issued (in Shares) | 30,556,544 | 14,976,544 |
Common stock, shares outstanding (in Shares) | 30,556,544 | 14,976,544 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
REVENUES | ||
Restaurant revenue, net of discounts | $ 2,724,713 | $ 2,458,690 |
Restaurant operating costs: | ||
Cost of sale - food and beverage | 903,554 | 787,590 |
Wages and payroll taxes | 828,442 | 723,870 |
Occupancy | 507,438 | 457,112 |
Other restaurant costs | 295,582 | 223,303 |
Depreciation and Amortization | 66,105 | 44,054 |
General & Administrative Expenses | 500,096 | 425,948 |
Total costs and expenses | 3,101,217 | 2,661,877 |
Loss from operations | (376,504) | (203,187) |
Other (income) and expense | ||
Pre-opening expenses | 0 | 19,712 |
Initial and change in fair value of derivative | 121,438 | 0 |
Interest expense | 139,452 | 154,271 |
Total other expenses | 260,890 | 173,983 |
Loss before income taxes | (637,394) | (377,170) |
Provision for income taxes | 0 | 0 |
Net loss | $ (637,394) | $ (377,170) |
Basic and diluted net loss per share | $ (.03) | $ (.03) |
Weighted average shares outstanding | 19,444,040 | 14,629,010 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Deficit - USD ($) | Common Stock | Preferred Stock | Additional Paid in Capital (Capital Deficiency) | Accumulated Deficit | Total |
Beginning Balance, Shares at Dec. 31, 2015 | 4,546,544 | 0 | 421,792 | (890,762) | (454,423) |
Beginning Balance, Amount at Dec. 31, 2015 | $ 14,547 | $ 0 | |||
Shares issued for cash, Shares | 430,000 | 0 | |||
Shares issued for cash, Amount | $ 430 | $ 0 | $ 197,570 | $ 0 | $ 198,000 |
Net loss | $ 0 | $ 0 | 0 | (377,170) | (377,170) |
Ending Balance, Shares at Dec. 31, 2016 | 14,976,544 | 0 | |||
Ending Balance, Amount at Dec. 31, 2016 | $ 14,977 | $ 0 | 619,362 | (1,267,932) | $ (633,480) |
Shares issued for cash, Shares | 7,112,000 | 0 | 7,112,000 | ||
Shares issued for cash, Amount | $ 7,112 | $ 0 | 47,521 | 0 | $ 54,633 |
Shares issued in settlement of debt, Shares | 3,000,000 | 0 | |||
Shares issued in settlement of debt, Amount | $ 3,000 | $ 0 | 27,000 | 0 | $ 30,000 |
Shares issued to effect acquisition, Shares | 5,418,000 | 500,000 | 5,418,000 | ||
Shares issued to effect acquisition, Amount | $ 5,418 | $ 500 | (515,804) | 0 | $ (509,886) |
Stock issued for services, Shares | 50,000 | 0 | |||
Stock issued for services, Amount | $ 50 | $ 0 | 10,950 | 0 | 11,000 |
Net loss | $ 0 | $ 0 | 0 | (637,394) | (637,394) |
Ending Balance, Shares at Dec. 31, 2017 | 30,556,544 | 500,000 | |||
Ending Balance, Amount at Dec. 31, 2017 | $ 30,557 | $ 500 | $ 189,029 | $ (1,905,326) | $ (1,685,240) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss from continuing operations | $ (637,394) | $ (377,170) |
Adjustments to reconcile net loss to net cash provided by operations: | ||
Amortization of share based compensation for services | 11,000 | 36,996 |
Depreciation and amortization | 66,105 | 44,054 |
Initial and change in fair value of derivative | 121,438 | 0 |
Changes in operating assets: | ||
Increase in receivables | (32,020) | 0 |
Increase in inventory | (1,622) | (1,111) |
Decrease in prepaid expenses | 7,818 | 28,191 |
Increase in deposits and other assets | (12,600) | (2,389) |
Changes in operating liabilities: | ||
Increase (decrease) in accounts payable | 103,216 | (74,092) |
Increase (decrease) in accrued expenses | 172,827 | 136,020 |
Increase in deferred rent | 3,865 | 17,624 |
Net cash used in operating activities | (197,367) | (191,877) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of fixed assets | (13,800) | (82,752) |
Reimbursement from landlord | 0 | 52,051 |
Purchase of intangible assets | 0 | (4,300) |
Net cash used in investing activities | (13,800) | (35,001) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from issuance of common stock for cash | 50,000 | 198,000 |
Proceeds from issuance of convertible notes payable for cash | 160,000 | 0 |
Proceeds from stockholder loan payable | 17,874 | 0 |
Payments on stockholder loan payable | 0 | (17,650) |
Proceeds from third party notes payable | 166,082 | 420,836 |
Payments on third party notes payable | (259,277) | (314,357) |
Net cash provided in financing activities | 134,679 | 286,829 |
Net (decrease) in cash | (76,488) | 59,951 |
CASH, beginning of period | 76,487 | 16,536 |
CASH, end of period | 0 | 76,487 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for interest | 79,109 | 135,905 |
Cash paid for income taxes | 0 | 0 |
Non-Cash Financing Activities: | ||
Common stock issued for settlement of discontinued operations liabilities | 30,000 | 0 |
Issuance of note payable for fixed assets | 0 | 40,000 |
Issuance of common in reverse acquisition | $ (508,986) | $ 0 |
NOTE 1 - NATURE OF OPERATIONS
NOTE 1 - NATURE OF OPERATIONS | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
(1) NATURE OF OPERATIONS | (1) NATURE OF OPERATIONS West Coast Ventures Group Corp. (“our”, “us”, “we”, “WCVC” or the “Company”) was originally incorporated as Energizer Tennis, Corp. on June 16, 2011 in the State of Nevada. On October 4, 2017, effective for accounting purposes on June 30, 2017, WCVC entered into an agreement to acquire Nixon Restaurant Group, Inc. in a transaction accounted for as a reverse acquisition. Nixon Restaurant Group, Inc. ( A The Company operates 5 restaurants in the Denver, Colorado metro area. El Senor Sol - Evergreen is a Mexican restaurant which has been in operation for in excess of 5 (five) full years. The Company opened the first Illegal Burger restaurant in August 2013. It is co-located with the El Senor Sol restaurant. The second Illegal Burger was opened in Arvada in April 2014. The third Illegal Burger is located in Writer Square in downtown Denver and opened in late January 2016. The fourth Illegal Burger is located in the Capital Hill area of Denver and opened in late June 2016. The Company plans to continue opening Illegal Burger restaurants, a quick casual high end restaurant with full liquor licenses. The Company expects to locate in other areas of the country over time. The accompanying consolidated financial statements include the activities of Nixon Restaurant Group, Inc., J&F Restaurant, LLC (El Senor and Illegal Burger Evergreen), Illegal Burger, LLC (Arvada), Illegal Burger Writer Square, LLC and Illegal Burger Capital Hill, LLC, its wholly owned subsidiaries. |
NOTE 2 - BASIS OF PRESENTATION
NOTE 2 - BASIS OF PRESENTATION AND USE OF ESTIMATES | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
(2) BASIS OF PRESENTATION AND USE OF ESTIMATES | (2) BASIS OF PRESENTATION AND USE OF ESTIMATES a) Basis of Presentation The comparative amounts presented in these consolidated financial statements are the historical results of West Coast Ventures Group, Corp. inclusive of its wholly owned subsidiaries Nixon Restaurant Group, Inc.; J&F Restaurant, LLC; Illegal Burger, LLC; Illegal Burger Writer Square, LLC and Illegal Burger Capital Hill, LLC. The Company has reflected the pre-acquisition results on a consolidated basis for all periods presented. All intercompany balances and transactions have been eliminated in consolidation b) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements involved the valuation of share-based compensation. c) Property and Equipment All property and equipment are recorded at cost and depreciated over their estimated useful lives, generally three, five or seven years, using the straight-line method. Upon sale or retirement, the cost and related accumulated depreciation are eliminated from their respective accounts, and the resulting gain or loss is included in the results of operations. Repairs and maintenance charges, which do not increase the useful lives of the assets, are charged to operations as incurred. d) Pre-opening Expenses The Company accumulates the non-capitalizable expenses, such as rent, staffing and training, prior to opening a new location and reports them on a separate line item in the Consolidated Statement of Operations such that these costs do not skew results from ongoing restaurant operations. In the month in which a new location opens all ongoing expenses are then included with ongoing restaurant operations. e) Rent The Company’s leases generally contain escalating rent payments over the lease term as well as optional renewal periods. The Company accounts for its leases by recognizing rent expense on a straight-line basis over the lease term, which includes reasonably assured renewal periods. The lease term begins when the Company has the right to control the use of the property, which is typically before rent payments are due under the lease agreement. The difference between the rent expense and rent paid is recorded as deferred rent in the consolidated balance sheet. Rent expense for the period prior to the restaurant opening is expensed in pre-opening costs. f) Net Loss Per Share Basic loss per share excludes dilution and is computed by dividing the loss attributable to stockholders by the weighted-average number of shares outstanding for the period. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in the earnings of the Company. Diluted loss per share is computed by dividing the loss available to stockholders by the weighted average number of shares outstanding for the period and dilutive potential shares outstanding unless consideration of such dilutive potential shares would result in anti-dilution. There were no dilutive common stock equivalents for the periods ended December 31, 2017 and 2016. g) Income Taxes The Company follows the provisions of ASC 740-10, Accounting for Uncertain Income Tax Positions. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The tax years 2016, 2015 and 2014 for the Company remain open for IRS audit. The Company has received no notice of audit or any notifications from the IRS for any of the open tax years. h) Cash and Cash Equivalents The Company considers all highly liquid securities with original maturities of three months or less when acquired, to be cash equivalents. We had no financial instruments that qualified as cash equivalents. i) Financial Instruments and Fair Value Measurements ASC 825-10 A ASC 825 also requires disclosures of the fair value of financial instruments. The carrying value of the Company’s current financial instruments, which include cash and cash equivalents, accounts payable and accrued liabilities approximates their fair values because of the short-term maturities of these instruments. FASB ASC 820 A Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is the Company’s assets and liabilities measured at fair value on a recurring and nonrecurring basis at December 31, 2017and 2016, using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3): 2017 2016 Level 3 - $ 251,438 $ - Changes in Level 3 assets measured at fair value for the year ended December 31, 2017 were as follows: Balance, December 31, 2016 $ - Portion of initial valuation recorded as debt discount 218,686 Amortization to gain on extinguishment upon conversion or payment - Change in fair value of derivative 32,752 Balance, December 31, 2017 $ 251,438 j) Derivatives The Company evaluates its convertible debt, options, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for. The result of this accounting treatment is that under certain circumstances the fair value of the derivative is marked-to-market each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or expense. Upon conversion, payment or exercise of a convertible note containing an embedded derivative instrument, the instrument is marked to fair value at the conversion date and the debt and derivative are removed from the balance sheet, The shares issued upon conversion of the note are recorded at their fair value and a gain or loss on extinguishment is recognized, as applicable. Equity instruments that are initially classified as equity that become subject to reclassification under this accounting standard are reclassified to liability at the fair value of the instrument on the reclassification date. k) Impairment of Long-Lived Assets A long-lived asset is tested for impairment whenever events or changes in circumstances indicate that its carrying value amount may not be recoverable. An impairment loss is recognized when the carrying amount of the asset exceeds the sum of the undiscounted cash flows resulting from its use and eventual disposition. The impairment loss is measured as the amount by which the carrying amount of the long-lived assets exceeds its fair value. l) Related Party Transactions All transactions with related parties are in the normal course of operations and are measured at the exchange amount m) Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. Entities will be able to transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We do not expect that the adoption of ASU 2014-09 will have any significant impact on our operating cash flows. In February 2016, the FASB issued ASU 2016-02, A In March 2016, the FASB issued ASU 2016-08, A n) Revenue Recognition Revenues consist of sales from restaurant operations and other miscellaneous revenue. Revenues from restaurant sales are recognized when payment is tendered at the point of sale. o) Inventories Inventories consist of food, beverages, and supplies valued at the lower of cost (first-in, first-out method) or market. |
NOTE 3 - LIQUIDITY AND GOING CO
NOTE 3 - LIQUIDITY AND GOING CONCERN CONSIDERATIONS | 12 Months Ended |
Dec. 31, 2017 | |
Note 3 - Liquidity And Going Concern Considerations | |
(3) LIQUIDITY AND GOING CONCERN CONSIDERATIONS | (3) LIQUIDITY AND GOING CONCERN CONSIDERATIONS Our consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. We sustained a net loss of approximately $0.6 million for the year ended December 31, 2017 and have an accumulated deficit of approximately $1.9 million and a negative working capital of approximately $2.1 million at December 31, 2017, inclusive of indebtedness. These conditions raise substantial doubt about our ability to continue as a going concern. Failure to successfully continue to grow restaurant operation revenues could harm our profitability and materially adversely affect our financial condition and results of operations. We face all of the risks inherent in a new business, including the need for significant additional capital, management’s potential underestimation of initial and ongoing costs, and potential delays and other problems in connection with establishing and opening restaurant operations. We are continuing our plan to further grow and expand restaurant operations and seek sources of capital to pay our contractual obligations as they come due. Management believes that its current operating strategy will provide the opportunity for us to continue as a going concern as long as we are able to obtain additional financing; however, there is no assurance this will occur. The accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. The independent auditors = |
NOTE 4 - FIXED ASSETS
NOTE 4 - FIXED ASSETS | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
(4) FIXED ASSETS | (4) FIXED ASSETS Fixed assets consisted of the following: December 31, 2017 2016 Beginning balance $ 394,524 $ 330,170 Additions: Equipment - 86,836 Additions: Leasehold improvements 13,801 29,570 Landlord reimbursement - (52,051) Depreciation (171,267) (112,272) Ending Balance $ 237,058 $ 282,253 Depreciation expense was $58,995 and $43,625 for the years ended December 31, 2017 and 2016, respectively. |
NOTE 5 - INTANGIBLE ASSETS
NOTE 5 - INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2017 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
(5) INTANGIBLE ASSETS | (5) INTANGIBLE ASSETS In March 2015, as part of the acquisition of the Writer Square downtown location, the Company purchased the rights to negotiate a lease from the landlord for $125,000 in cash. The Company is amortizing this value over the remaining term of the lease. In March 2016, as part of the acquisition of the Capital Hill location, the Company purchased the existing liquor license for $4,300 in cash. The Company is amortizing this value of the remaining term of the lease. Amortization expense was $7,110 and $430 for the years ended December 31, 2017 and 2016, respectively. |
NOTE 6 - NET ACQUIRED LIABILITI
NOTE 6 - NET ACQUIRED LIABILITIES OF DISCONTINUED OPERATIONS | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
(6) NET ACQUIRED LIABILITIES OF DISCONTINUED OPERATIONS | (6) NET ACQUIRED LIABILITIES OF DISCONTINUED OPERATIONS As a result of the reverse acquisition on October 4, 2017, we acquired approximately $0.5 million of liabilities, net of assets, of the former operations of West Coast Ventures Group Corp. (which have been discontinued). During 2017 we issued 3,000,000 shares of our common stock to extinguish $30,000 of indebtedness. We are evaluating the means to relieve the Company of these liabilities. |
NOTE 7 - SHORT-TERM BANK REVOLV
NOTE 7 - SHORT-TERM BANK REVOLVING LINES OF CREDIT | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
(7) SHORT-TERM BANK REVOLVING LINES OF CREDIT | (7) SHORT-TERM BANK REVOLVING LINES OF CREDIT In 2016 the Company opened three short term revolving lines of credit with its bank to be utilized as overdraft protection and to cover short-term cash shortfalls. These lines were entered into by J&F Restaurants, LLC, with the two separate lines being tied to the bank accounts of El Senor Sol - Evergreen and Illegal Burger - Evergreen, and Illegal Burger, LLC - Arvada. In February 2017 the principal stockholder converted these lines to a personal line of credit collateralized as an equity line on his personal residence. The lines carried a variable interest rate of Wall Street Prime Index Rate plus 2.00%, which was 5.5% at December 31, 2016, and matured in March 2021. At December 31, 2017 the balances of each of these lines were $0. At December 31, 2016 the balances were $20,000 for each line of credit. |
NOTE 8 - STOCKHOLDER LOAN
NOTE 8 - STOCKHOLDER LOAN | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
(8) STOCKHOLDER LOAN | (8) STOCKHOLDER LOAN The principal stockholder of the Company has loaned the Company funds at various times on an undocumented loan basis with no stated interest rate. These loans were made principally to complete the conversion of the Illegal Burger - Arvada (2014) and Illegal Burger - Writer Square (2015 and 2016) and Illegal Burger Capital Hill (2016) locations. This stockholder loan balance was $90,675 and $76,535 at December 31, 2017 and 2016, respectively. In February 2017 the principal stockholder converted the three short-term bank revolving line of credits to a personal line of credit collateralized as an equity line on his personal residence. |
NOTE 9 - NOTES PAYABLE TO THIRD
NOTE 9 - NOTES PAYABLE TO THIRD PARTIES | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
(9) NOTES PAYABLE TO THIRD PARTIES | (9) NOTES PAYABLE TO THIRD PARTIES a) Future Receivables Sale Agreements During 2017, 2016 and 2015, the Company entered into several agreements to obtain advances against future restaurant credit/debit card sales. The agreements provides for funding of various percentages of future qualified credit/debit merchant card receivables. Proceeds received from sales of future receivables during 2017 and 2016 totaled $166,082 and $131,490, respectively. At December 31, 2017 and 2016, the total payable balances inclusive of interest under the factoring agreements were $248,883 and $116,657, respectively. b) One Year Note In February 2016, the Company entered into a one year note with a third party for a loan of $88,000. This note was payable daily in the amount of $376.64 paid via ACH draft from the J&F Restaurants, LLC - El Senor Sol Evergreen bank account. This note carries interest at a 7% rate. This note was renewed on December 30, 2016, and the Company received $74,548 in cash, which is net of the $10,452 remaining balance. The new note is payable as a percentage of future qualified credit/debit merchant card receivables. The loan balance was $42,217 and $84,239 at December 31, 2017 and 2016, respectively. c) Convertible Notes In 2017 the Company entered into two convertible notes in exchange for $130,000 in cash. These notes mature in nine months and one year and carry 12% and 8% interest rates. The notes convert into shares of the Company’s common stock at a price of 61% and 55% of the average of the two lowest trade prices and the lowest trade price for the Common Stock during the 15 and 20 Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. In 2017, the Company through a subsidiary, issued a Convertible Promissory Note in exchange for $30,000 in cash. This note matures in one year from issuance and carried a 10% interest rate. The note converts into shares of the Company’s common stock at a price of 65% of the average closing price for the Common Stock during the three (3) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. In 2016, the Company issued a convertible note in the amount of $51,221. At issuance of the note, the Company recorded a beneficial conversion feature discount of $51,221. This note is due in January 2018 and carries a 4% interest rate. In July 2017, $30,000 of this note was converted into 3,000,000 shares of the Company’s common stock. At December 31, 2017, the unamortized discount is $5,188. This liability has been incorporated into liabilities from discontinued operations. d) Third Party Note Payable In March 2015, the Company entered into an agreement with a third party lender, who extended a $3,000,000 Senior Secured Note. Under the terms of this agreement a first draw was entered into in the amount of $375,000 as a Revolving Note. The lender retained $59,713 of this draw as fees. Under the terms of this Note, the Company was required to replace their credit card/debit card merchant processing to the lender. The lender retained 100% of the credit card/debit card transactions, and forwarded four wire transfers to the Company over a six week period. The credit card/debit card transactions for this six week period amounted to $84,534. The lender remitted $42,379 of this amount to the Company. Of the $42,155 retained by the lender, $14,861 was applied as principal reduction, $7,088 was applied to interest expense and the remaining $20,206 was charged as fees. The Senior Secured Note also called for the payment of a $75,000 investment banking fee. In May 2015, when it was determined that this repayment structure was not practical for a restaurant operation, the lender agreed to restructure the Revolving Note into a Replacement Promissory Note. This Replacement Promissory Note carries interest at a stated rate of 18% with a maturity of June 1, 2016. The lender charged the Company a $25,000 penalty to convert the Revolving Note into a Replacement Promissory Note. The Replacement Promissory Note called for interest only payments in June, July and August 2015. Starting in September the terms called for the payment of interest, principal starting at $33,649 increasing monthly to $38,474 in June 2016, as the interest on the then outstanding balance fell. In addition the Replacement Promissory Note called for the payment of a $106,000 Redemption Premium as part of the total monthly payment of $49,651. As a direct result of delays in opening the new Writer Square location, the lender agreed to interest only payments via ACH draft every Monday. In June 2015, the Company paid $1,080 per week, which was increased to $1,200 per week for July 1 through October 15, 2015. It was then increased to $1,500 per week from October 16, 2015 through the third week of March 2016, when it was increased to $2,000 per week. At both December 31, 2017 and 2016 the principal balance of the loan was $322,220. The Company also accrued the $25,000 conversion penalty, the $75,000 investment banking fee and the $106,000 redemption premiums as accrued interest because the Replacement Promissory Note allows for prepayment but all these fees are due upon prepayment. Certain third parties have advanced funds to WCVC to fund its ongoing operations. These advances have been formalized into demand notes payable, which, at December 31, 2017, amount to $54,039 and carry a 5% interest rate. WCVC has a $250,000 note payable which is due in April 2018 and carries a 5% interest rate. These liabilities have been incorporated into liabilities from discontinued operations. e) Capital Hill Purchase Notes Payable In March 2016, as part of the closing on the Capital Hill location, the seller took back two promissory notes. One of these notes was for $25,000 and carried interest at a rate of 6% with a six month term with equal monthly payments. The balance of this note was $0 at December 31, 2017, and $6,344 at December 31, 2016. The second note was for $15,000 and carried no stated interest and was due in a single lump sum payment in May 2016. The second note was paid in full during 2016. |
NOTE 10 - STOCKHOLDERS' DEFICIT
NOTE 10 - STOCKHOLDERS' DEFICIT | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
(10) STOCKHOLDERS' DEFICIT | (10) STOCKHOLDERS’ DEFICIT At December 31, 2017 and 2016, the Company has 250,000,000 shares of par value $0.001 common stock authorized and 30,556,544 and 14,976,544 issued and outstanding, respectively. At December 31, 2017 and 2016, the Company has 10,000,000 shares of par value $0.001 preferred stock authorized and 500,000 and 0 issued and outstanding, respectively. During 2017 the Company through a subsidiary issued 7,112,000 shares in exchange for $54,633 in cash. During 2017 the Company issued 500,000 shares of Series A preferred stock and 5,418,000 shares of common stock in connection with the reverse acquisition of Nixon Restaurant Group, Inc. The rights and privileges of the Series A preferred stock are solely as a A |
NOTE 11 - INCOME TAXES
NOTE 11 - INCOME TAXES | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
NOTE 11 - INCOME TAXES | (11) INCOME TAXES The Company recognizes deferred tax assets and liabilities for the tax effects of differences between the financial statements and tax basis of assets and liabilities. A valuation allowance is established to reduce the deferred tax assets if it is more likely than not that a deferred tax asset will not be realized. The components of income tax provision (benefit) related to continuing operations are as follows at December 31: 2017 2016 Current $ - $ - Deferred $ - $ - Total tax provisions $ - $ - The following is a reconciliation of the effective income tax rate with the statutory income tax rate at December 31: 2017 2016 U.S. Federal statutory income tax rate (34)% (34)% State income tax, net of federal benefit (1.6)% (1.6)% Other temporary differences, net - - Valuation allowance 35.6% 35.6% 0.0% 0.0% The net deferred tax assets and liabilities included in the financial statements consist of the following amounts at December 31: 2017 2016 Deferred tax assets: Net operating loss carry forwards $ 610,016 $ 410,044 Deferred compensation 66,416 27,782 Stock based compensation 17,610 13,161 Other 7,461 7,619 Total - - Deferred tax liabilities: - - Less: valuation allowance (824,576) (458,606) Net deferred tax assets $ - $ - The change in valuation allowance was $365,970 and $134,175 for the years ended December 31, 2017 and 2016, respectively. We have recorded a 100% valuation allowance related to the deferred tax asset for the loss from operations. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which temporary differences become deductible. In accordance with the provisions of ASC 740: Income Taxes, we record a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. At December 31, 2017 and 2016, we have no liabilities for uncertain tax positions. We continually evaluate expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. |
NOTE 12 - COMMITMENTS AND CONTI
NOTE 12 - COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
(12) - COMMITMENTS AND CONTINGENCIES | (12) COMMITMENTS AND CONTINGENCIES a) Real Property Leases The Company leases 4 (four) restaurant spaces from unrelated parties. Rent expense paid was $421,392 and $406,284 for the years ended December 31, 2017 and 2016. 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 $ - $ - $ 72,616 $ 98,107 $ 65,511 $ 236,234 2019 $ - $ - $ 74,795 $ 102,643 $ 67,477 $ 244,915 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 $ - $ - $ 250,380 $ 830,295 $ 225,883 $ 1,306,558 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 B 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. |
NOTE 13 - CONCENTRATIONS OF CRE
NOTE 13 - CONCENTRATIONS OF CREDIT RISK | 12 Months Ended |
Dec. 31, 2017 | |
Risks and Uncertainties [Abstract] | |
(13) CONCENTRATIONS OF CREDIT RISK | (13) CONCENTRATIONS OF CREDIT RISK a) Cash The Company maintains its cash in bank deposit accounts, which may, at times, may exceed federally insured limits. The Company had no cash balance in excess of FDIC insured limits at December 31, 2017 and 2016. |
NOTE 14 - SUBSEQUENT EVENTS
NOTE 14 - SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
(14) SUBSEQUENT EVENTS | (14) SUBSEQUENT EVENTS a) Convertible Notes In 2018 the Company entered into three convertible notes in exchange for $289,000. These notes mature in 6 months and 9 months. These notes carry an interest rate of 12% and a 10% Original issue Discount (OID). The OID will be recorded as a debt discount and amortized over the life of the loan. In addition the Company issued 340,000 returnable shares to one lender as an inducement. These shares were valued at $85,000, or $0.25 per share. These shares value will be recorded as a debt discount and amortized over the life of the loan. The Company also issued a warrant for 500,000 shares to the same lender as the returnable shares. The warrant contains terms allowing for a cash-less exercise. The notes convert into shares of the Company’s common stock at a price of 61% and 65% of the average of the two lowest trade prices and the lowest trade price for the Common Stock during the 15 and 20 Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. Shortly after issuance of the note, the Company agreed to remove the returnable designation from the 340,000 shares issued as an inducement. In addition the lender exercised the warrant under the cash-less provision for 50,898 shares and converted $16,528 of the note into 1,155,829 shares at a conversion price of $0.0143 per share. b) Future Receivables Sale Agreements In February and March 2018, we negotiate settlement agreements with two of these lenders to pay off the balances owed at the rate of $6,000 per month over two years and $4,000 per month over one year. |
NOTE 2 - SUMMARY OF SIGNIFICANT
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Changes in Level 3 assets measured at fair value | Balance, December 31, 2016 $ - Portion of initial valuation recorded as debt discount 218,686 Amortization to gain on extinguishment upon conversion or payment - Change in fair value of derivative 32,752 Balance, December 31, 2017 $ 251,438 |
NOTE 4 - FIXED ASSETS (Tables)
NOTE 4 - FIXED ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Fixed assets | December 31, 2017 2016 Beginning balance $ 394,524 $ 330,170 Additions: Equipment - 86,836 Additions: Leasehold improvements 13,801 29,570 Landlord reimbursement - (52,051) Depreciation (171,267) (112,272) Ending Balance $ 237,058 $ 282,253 |
NOTE 10 - COMMITMENTS AND CONTI
NOTE 10 - COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future minimum lease payments | For the Year Ending December 31, ESSE IBE IBA IBWS IBCH Total 2018 $ - $ - $ 72,616 $ 98,107 $ 65,511 $ 236,234 2019 $ - $ - $ 74,795 $ 102,643 $ 67,477 $ 244,915 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 $ - $ - $ 250,380 $ 830,295 $ 225,883 $ 1,306,558 |
NOTE 11 - INCOME TAXES (Tables)
NOTE 11 - INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule Of Components Of Income Tax Expense Benefit | 2017 2016 Current $ - $ - Deferred $ - $ - Total tax provisions $ - $ - |
Reconciliation of the effective income tax rate with the statutory income tax rate | 2017 2016 U.S. Federal statutory income tax rate (34)% (34)% State income tax, net of federal benefit (1.6)% (1.6)% Other temporary differences, net - - Valuation allowance 35.6% 35.6% 0.0% 0.0% |
Income tax recovery | 2017 2016 Deferred tax assets: Net operating loss carry forwards $ 610,016 $ 410,044 Deferred compensation 66,416 27,782 Stock based compensation 17,610 13,161 Other 7,461 7,619 Total - - Deferred tax liabilities: - - Less: valuation allowance (824,576) (458,606) Net deferred tax assets $ - $ - |
NOTE 12 - COMMITMENTS AND CON25
NOTE 12 - COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future minimum lease payments | For the Year Ending December 31, ESSE IBE IBA IBWS IBCH Total 2018 $ - $ - $ 72,616 $ 98,107 $ 65,511 $ 236,234 2019 $ - $ - $ 74,795 $ 102,643 $ 67,477 $ 244,915 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 $ - $ - $ 250,380 $ 830,295 $ 225,883 $ 1,306,558 |
NOTE 2 - SUMMARY OF SIGNIFICA26
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Accounting Policies [Abstract] | ||
Share based compensation plans | $ 11,000 | $ 36,996 |
Stock issued for services, value | 11,000 | |
Common stock equivalents | 0 | 0 |
Level 3 B Embedded Derivative Liability | $ 251,438 | $ 0 |
NOTE 3 - LIQUIDITY AND GOING 27
NOTE 3 - LIQUIDITY AND GOING CONCERN CONSIDERATIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Note 3 - Liquidity And Going Concern Considerations | ||
Net loss | $ (637,394) | $ (377,170) |
Accumulated deficit | (1,905,326) | $ (1,267,930) |
Negative working capital | $ 1,800,000 |
NOTE 4 - FIXED ASSETS (Details)
NOTE 4 - FIXED ASSETS (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | ||
Beginning balance | $ 394,525 | $ 330,169 |
Additions: Equipment | 0 | 86,836 |
Additions: Leasehold improvements | 13,801 | 29,570 |
Landlord reimbursement | 0 | (52,051) |
Depreciation | (171,267) | (112,272) |
Ending Balance | $ 237,058 | $ 282,252 |
NOTE 4 - FIXED ASSETS (Details
NOTE 4 - FIXED ASSETS (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 58,995 | $ 43,625 |
NOTE 5 - INTANGIBLE ASSETS (Det
NOTE 5 - INTANGIBLE ASSETS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets, Net [Abstract] | |||
Location intangible value | $ 125,000 | ||
Liquor license purchase | $ 4,300 | ||
Amortization expenses of intangibles | $ 645 |
NOTE 6 - SHORT-TERM BANK REVOLV
NOTE 6 - SHORT-TERM BANK REVOLVING LINES OF CREDIT (Details Narrative) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
Bank line of credit, percent | 5.50% | |
Balance outstanding | $ 0 | $ 20,000 |
NOTE 7 - STOCKHOLDER LOAN (Deta
NOTE 7 - STOCKHOLDER LOAN (Details Narrative) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Related Party Transactions [Abstract] | ||
Stockholder loan balance | $ 141,851 | $ 76,535 |
NOTE 8 - NOTES PAYABLE TO THIRD
NOTE 8 - NOTES PAYABLE TO THIRD PARTIES (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||||
Mar. 31, 2016 | Feb. 28, 2016 | Jan. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Note 8 - Notes Payable To Third Parties Details Narrative | |||||||
Future receivables sale agreements | $ 150,488 | $ 131,490 | |||||
Total payable balance under factoring agreement for future receivables | 206,390 | 116,657 | |||||
Less current portion of Note payable | 661,858 | 770,280 | |||||
Sale of future agreements, gross | $ 150,488 | 131,490 | |||||
Shares issued for settlement of convertible debt, shares | 3,000,000 | ||||||
Shares issued for settlement of convertible debt, value | $ 30,000 | ||||||
Convertible Note Payable | |||||||
Interest rate of convertible note | 6.00% | 7.00% | 4.00% | 10.00% | 10.00% | ||
Convertible Notes | $ 45,231 | $ 0 | |||||
Convertible notes issued | $ 25,000 | $ 88,000 | $ 51,221 | $ 30,000 | $ 208,000 | ||
Promissory Note | |||||||
Third party note payable | $ 3,000,000 |
NOTE 10 - STOCKHOLDERS' DEFIC34
NOTE 10 - STOCKHOLDERS' DEFICIT (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Preferred Stock | ||
Preferred stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in Shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in Shares) | 500,000 | 0 |
Preferred stock, shares outstanding (in Shares) | 500,000 | 0 |
Common Stock | ||
Common stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in Shares) | 250,000,000 | 250,000,000 |
Common stock, shares issued (in Shares) | 30,556,544 | 14,976,544 |
Common stock, shares outstanding (in Shares) | 30,556,544 | 14,976,544 |
Shares issued for cash, shares | 7,112,000 | |
Shares issued for cash, amount | $ 54,633 | $ 198,000 |
Preferred stock issued in acquisition of Nixon | 500,000 | |
Common stock issued in acquisition of Nixon | 5,418,000 | |
Common stock share votes per share of preferred stock | 100,000 |
NOTE 11 - INCOME TAXES - SCHEDU
NOTE 11 - INCOME TAXES - SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE BENEFIT (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
Current | $ 0 | $ 0 |
Deferred | 0 | 0 |
Total tax provision | $ 0 | $ 0 |
NOTE 11 - INCOME TAXES - EFFECT
NOTE 11 - INCOME TAXES - EFFECTIVE INCOME TAX RATE (Details) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
U.S. Federal statutory income tax rate | (34.00%) | (34.00%) |
State income tax, net of federal benefit | (1.60%) | (1.60%) |
Others | 0.00% | 0.00% |
Valuation allowance | 35.60% | 35.60% |
Effective tax rate | 0.00% | 0.00% |
NOTE 11 - INCOME TAXES - DEFERR
NOTE 11 - INCOME TAXES - DEFERRED TAX ASSETS (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred Tax Assets | ||
Net operating loss carry forwards | $ 610,016 | $ 410,044 |
Deferred compensation | 66,416 | 27,782 |
Stock based compensation | 17,610 | 13,161 |
Other | 7,461 | 7,619 |
Deferred tax asset | 0 | 0 |
Deferred tax liabilities: | ||
Less: valuation allowance | (824,576) | (458,606) |
Net deferred tax asset | $ 0 | $ 0 |
NOTE 12 - COMMITMENTS AND CON38
NOTE 12 - COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | 48 Months Ended | 102 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2025 | Dec. 31, 2025 | |
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Rent expense | $ 321,923 | |||||||
Future minimum lease payment totals | $ 81,276 | $ 151,968 | $ 249,182 | $ 244,915 | $ 236,234 | $ 424,259 | $ 1,387,824 |