Cover
Cover - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2023 | Jun. 30, 2023 | |
Document Type | 10-K | |
Amendment Flag | false | |
Document Annual Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2023 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-41494 | |
Entity Registrant Name | YOSHIHARU GLOBAL CO. | |
Entity Central Index Key | 0001898604 | |
Entity Tax Identification Number | 87-3941448 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 6940 Beach Blvd., Suite D-705 | |
Entity Address, City or Town | Buena Park | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90621 | |
City Area Code | (714) | |
Local Phone Number | 694-2403 | |
Title of 12(b) Security | Class A Common Stock, $0.0001 par value per share | |
Trading Symbol | YOSH | |
Security Exchange Name | NASDAQ | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Public Float | $ 4.3 | |
ICFR Auditor Attestation Flag | false | |
Document Financial Statement Error Correction [Flag] | false | |
Auditor Name | BF Borgers CPA PC | |
Auditor Firm ID | 5041 | |
Auditor Location | Lakewood, CO | |
Common Class A [Member] | ||
Entity Common Stock, Shares Outstanding | 1,230,246 | |
Common Class B [Member] | ||
Entity Common Stock, Shares Outstanding | 100,000 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Current Assets: | ||
Cash | $ 1,832,661 | $ 6,509,121 |
Inventories | 73,023 | 60,899 |
Total current assets | 1,905,684 | 6,570,020 |
Non-Current Assets: | ||
Property and equipment, net | 4,092,950 | 3,158,428 |
Operating lease right-of-use asset, net | 5,459,708 | 5,980,888 |
Other assets | 1,561,022 | 308,353 |
Total non-current assets | 11,113,680 | 9,447,669 |
Total assets | 13,019,364 | 16,017,689 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 647,811 | 744,101 |
Line of credit | 1,000,000 | 300,000 |
Current portion of operating lease liabilities | 572,230 | 458,803 |
Current portion of bank notes payables | 414,378 | 265,943 |
Current portion of loan payable, EIDL | 10,526 | 39,652 |
Loans payable to financial institutions | 534,239 | |
Other payables | 65,700 | 5,915 |
Total current liabilities | 3,269,060 | 1,987,134 |
Operating lease liabilities, less current portion | 5,689,535 | 6,261,767 |
Bank notes payables, less current portion | 991,951 | 1,020,143 |
Restaurant revitalization fund | 700,454 | |
Loan payable, EIDL, less current portion | 415,339 | 410,348 |
Total liabilities | 10,365,885 | 10,379,846 |
Commitments and contingencies | ||
Stockholders’ Equity (Deficit) | ||
Additional paid-in-capital | 11,994,119 | 11,938,119 |
Accumulated deficit | (9,340,773) | (6,300,409) |
Total stockholders’ equity | 2,653,479 | 5,637,843 |
Total liabilities and stockholders’ equity | 13,019,364 | 16,017,689 |
Common Class A [Member] | ||
Stockholders’ Equity (Deficit) | ||
Common Stock, value | 123 | 123 |
Common Class B [Member] | ||
Stockholders’ Equity (Deficit) | ||
Common Stock, value | 10 | 10 |
Related Party [Member] | ||
Current Liabilities: | ||
Due to related party | $ 24,176 | $ 172,720 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2023 | Nov. 22, 2023 | Dec. 31, 2022 |
Common Class A [Member] | |||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 49,000,000 | 49,000,000 | |
Common stock, shares issued | 1,230,246 | 1,228,246 | |
Common stock, shares outstanding | 1,230,246 | 1,228,246 | |
Common Class B [Member] | |||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 1,000,000 | 1,000,000 | |
Common stock, shares issued | 100,000 | 100,000 | |
Common stock, shares outstanding | 100,000 | 100,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue: | ||
Food and beverage | $ 9,214,779 | $ 8,282,368 |
Revenue from Contract with Customer, Product and Service [Extensible Enumeration] | Food and Beverage [Member] | Food and Beverage [Member] |
Total revenue | $ 9,214,779 | $ 8,282,368 |
Restaurant operating expenses: | ||
Food, beverages and supplies | 2,376,961 | 2,163,085 |
Labor | 4,234,905 | 3,670,681 |
Rent and utilities | 1,129,060 | 1,098,389 |
Delivery and service fees | 563,910 | 525,747 |
Depreciation | 545,549 | 658,371 |
Total restaurant operating expenses | 8,850,385 | 8,116,273 |
Net restaurant operating income | 364,394 | 166,095 |
Operating expenses: | ||
General and administrative | 3,419,036 | 2,884,770 |
Related party compensation | 339,740 | 916,891 |
Advertising and marketing | 120,872 | 148,664 |
Total operating expenses | 3,879,648 | 3,950,325 |
Loss from operations | (3,515,254) | (3,784,230) |
Other income (expense): | ||
PPP loan forgiveness | 385,900 | |
RRF loan forgiveness | 700,454 | |
Gain on disposal of fixed asset | 8,920 | |
Other income | 32,316 | 18,508 |
Interest | (218,153) | (88,300) |
Total other income | 523,537 | 316,108 |
Loss before income taxes | (2,991,717) | (3,468,122) |
Income tax provision | 48,647 | 19,245 |
Net loss | $ (3,040,364) | $ (3,487,367) |
Loss per share: | ||
Loss per share Basic | $ (2.29) | $ (3.23) |
Loss per share Diluted | $ (2.29) | $ (3.23) |
Weighted average number of common shares outstanding: | ||
Weighted average number of common shares outstanding Basic | 1,329,022 | 1,078,523 |
Weighted average number of common shares outstanding Diluted | 1,329,022 | 1,078,523 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | Common Stock [Member] Common Class A [Member] | Common Stock [Member] Common Class B [Member] | Additional Paid-in Capital [Member] | Receivables from Stockholder [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2021 | $ 95 | $ 554,307 | $ (60,000) | $ (2,813,042) | $ (2,318,640) | |
Balance, shares at Dec. 31, 2021 | 945,090 | |||||
Payments received for prior year subscription | 60,000 | 60,000 | ||||
Cancellation of Class A Common Stock | $ (10) | (10) | ||||
Cancellation of Class A Common Stock, shares | (100,000) | |||||
Issuance of Class B Common Stock | $ 10 | 10 | ||||
Issuance of Class B Common Stock, shares | 100,000 | |||||
Issuance of Class A Common Stock | $ 38 | 11,383,812 | 11,383,850 | |||
Issuance of Class A Common Stock, shares | 383,756 | |||||
Net loss | (3,487,367) | (3,487,367) | ||||
Balance at Dec. 31, 2022 | $ 123 | $ 10 | 11,938,119 | (6,300,409) | 5,637,843 | |
Balance, shares at Dec. 31, 2022 | 1,228,846 | 100,000 | ||||
Issuance of Class A Common Stock | 56,000 | 56,000 | ||||
Issuance of Class A Common Stock, shares | 1,400 | |||||
Net loss | (3,040,364) | (3,040,364) | ||||
Balance at Dec. 31, 2023 | $ 123 | $ 10 | $ 11,994,119 | $ (9,340,773) | $ 2,653,479 | |
Balance, shares at Dec. 31, 2023 | 1,230,246 | 100,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (3,040,364) | $ (3,487,367) |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 545,549 | 658,371 |
Gain on disposal of fixed asset | (8,920) | |
PPP loan forgiveness | (385,900) | |
RRF loan forgiveness | (700,454) | |
Changes in assets and liabilities: | ||
Inventories | (12,124) | (24,326) |
Other assets | (1,252,669) | (150,404) |
Accounts payable and accrued expenses | (33,915) | 883,871 |
Due to related party | (148,544) | (1,276,193) |
Other payables | 59,785 | (16,822) |
Net used in operating activities | (4,591,656) | (3,798,770) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (1,471,151) | (1,473,275) |
Net cash used in investing activities | (1,471,151) | (1,473,275) |
Cash flows from financing activities: | ||
Advance from line of credit | 700,000 | 300,000 |
Proceeds from borrowings | 812,000 | 258,133 |
Repayments on bank notes payables | (715,892) | (209,719) |
Proceeds from loan payable to financial institutions | 595,400 | |
Repayment of loan payable to financial institutions | (61,161) | |
Proceeds from sale of common shares | 56,000 | 10,345,650 |
Net cash provided by financing activities | 1,386,347 | 10,694,064 |
Net (decrease) increase in cash | (4,676,460) | 5,422,019 |
Cash – beginning of period | 6,509,121 | 1,087,102 |
Cash – end of period | 1,832,661 | 6,509,121 |
Supplemental disclosures of non-cash financing activities: | ||
Forgiveness of paycheck protection program (PPP) loan | 385,900 | |
Forgiveness of restaurant revitalization fund (RRF) loan | 700,454 | |
Cash paid during the years for: | ||
Interest | 218,153 | 88,300 |
Income taxes | $ 48,647 | $ 19,245 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Pay vs Performance Disclosure [Table] | ||
Net Income (Loss) Attributable to Parent | $ (3,040,364) | $ (3,487,367) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arrangements [Line Items] | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS | 1. NATURE OF OPERATIONS Yoshiharu Global Co. (“Yoshiharu”) was incorporated in the State of Delaware on December 9, 2021. Yoshiharu did not have significant transactions since formation. Yoshiharu has the following wholly owned subsidiaries: SCHEDULE OF WHOLLY OWNED SUBSIDIARIES Name Date of Formation Description of Business Global JJ Group, Inc. (“JJ”) January 8, 2015 Ramen stores located in Orange, California and Buena Park, California Global AA Group, Inc. (“AA”) July 21, 2016 Ramen store located in Whittier, California Global BB Group, Inc. (“BB”) May 19, 2017 Ramen store located in Chino Hills, California Global CC Group, Inc. (“CC”) September 23, 2019 Ramen stores located in Eastvale, California and Corona, California Global DD Group, Inc. (“DD”) December 19, 2019 Ramen store located in la Mirada, California Yoshiharu Irvine (“YI”) December 4, 2020 Ramen store located in Irvine, California Yoshiharu Cerritos (“YC”) January 21, 2021 Ramen store located in Cerritos, California Yoshiharu Clemente (“YCT”) May 2, 2022 Ramen store to be opened in San Clemente, California Yoshiharu Laguna (“YL”) May 2, 2022 Ramen store to be opened in Laguna, California Yoshiharu Ontario (“YO”) May 2, 2022 Ramen store to be opened in Ontario, California Yoshiharu Menifee (“YM”) May 2, 2022 Ramen store to be opened in Menifee, California Yoshiharu Garden Grove (“YG”) July 27, 2022 Ramen store to be opened in Garden Grove, California The Company owns restaurants specializing in Japanese ramen and other Japanese cuisines. The Company offers a variety of Japanese ramens, rice bowls, and appetizers. Unless otherwise stated or the context otherwise requires, the terms “Yoshiharu” “we,” “us,” “our” and the “Company” refer collectively to Yoshiharu and, where appropriate, its subsidiaries. Prior to September 30, 2021, the Yoshiharu business (the “Business”) consisted of the first seven separate entities listed above (collectively, the “Entities”), each wholly owned by James Chae (“Mr. Chae”), and each holding one (1) store, except for JJ, which held two stores and the Business’s intellectual property (the “IP”). Effective October 2021, JJ transferred the IP to Mr. Chae. Effective October 2021, Mr. Chae contributed 100 3,205,000 100 6,245,900 9,450,900 On December 9, 2021, Yoshiharu completed a share exchange agreement whereby Mr. Chae, the sole stockholder of Holdings, received 9,450,900 100 On November 22, 2023, Yoshiharu Global Co. (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of its issued Class A common stock, par value $ 0.0001 0.0001 1-for-10 No fractional shares were issued as a result of the Reverse Stock Split. Instead, any fractional shares that would have resulted from the Reverse Stock Split were rounded up to the next whole number. As a result, total of 34,846 1,230,246 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America. The consolidated financial statements include Yoshiharu and its wholly owned subsidiaries listed in Note 1 above as of December 31, 2022 and December 31, 2021 and for the years then ended. All intercompany accounts, transactions, and profits have been eliminated upon consolidation. Initial Public Offering In September 2022, the Company consummated its initial public offering (the “IPO”) of 2,940,000 4.00 11,760,000 10.3 1.5 The Company granted the underwriters a 45-day option to purchase up to 441,000 15 5.0 5.00 125 On September 9, 2022, the Company’s stock began trading on the Nasdaq Capital Market under the symbol “YOSH.” Deferred Offering Costs Deferred offering costs were expenses directly related to the IPO. These costs consisted of legal, accounting, printing, and filing fees. The deferred offering costs were offset against the IPO proceeds in September 2022 and were reclassified to additional paid-in capital upon completion of the IPO. Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and the accompanying notes. Such estimates include accounts receivables, accrued liabilities, income taxes, long-lived assets, and deferred tax valuation allowances. These estimates generally involve complex issues and require management to make judgments, involve analysis of historical and future trends that can require extended periods of time to resolve, and are subject to change from period to period. In all cases, actual results could differ materially from estimates. Marketing Marketing costs are charged to expense as incurred. Marketing costs were approximately $ 121,000 149,000 Delivery Fees Charged by Delivery Service Providers The Company’s customers may order online through third party service providers such as Uber Eats, Door Dash, and others. These third-party service providers charge delivery and order fees to the Company. Such fees are expensed when incurred. Delivery fees are included in delivery and service fees in the accompanying consolidated statements of operations. Revenue Recognition Revenue from sales is recognized when food and beverages are sold to customers. Revenue represents sales net of discounts and sales taxes collected from customers. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Inventories Inventories, which are stated at the lower of cost or net realizable value, consist primarily of perishable food items and supplies. Cost is determined using the first-in, first out method. Segment Reporting ASC 280, Segment Reporting, requires public companies to report financial and descriptive information about their reportable operating segments. The Company identifies its operating segments based on how executive decision makers internally evaluates separate financial information, business activities and management responsibility. Accordingly, the Company has one Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Major improvements are capitalized, and minor replacements, maintenance and repairs are charged to expense as incurred. Depreciation and amortization are calculated on the straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the estimated useful life or the lease term of the related asset. The estimated useful lives are as follows: SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES Furniture and equipment 5 7 Leasehold improvements Shorter of estimated useful life or term of lease Vehicles 5 Income Taxes The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company had no unrecognized tax benefits identified or recorded as liabilities as of December 31, 2023. Impairment of Long-Lived Assets When circumstances, such as adverse market conditions, indicate that the carrying value of a long-lived asset may be impaired, the Company performs an analysis to review the recoverability of the asset’s carrying value, which includes estimating the undiscounted cash flows (excluding interest charges) from the expected future operations of the asset. These estimates consider factors such as expected future operating income, operating trends and prospects, as well as the effects of demand, competition and other factors. If the analysis indicates that the carrying value is not recoverable from future cash flows, an impairment loss is recognized to the extent that the carrying value exceeds the estimated fair value. Any impairment losses are recorded as operating expenses, which reduce net income. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable and other receivables arising from its normal business activities. The Company has a diversified customer base. The Company controls credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for un-collectible accounts and, as a consequence, believes that its accounts receivable related credit risk exposure beyond such allowance is limited. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fair Value of Financial Instruments The Company utilizes ASC 820-10, Fair Value Measurement and Disclosure, for valuing financial assets and liabilities measured on a recurring basis. Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability. The guidance establishes three levels of inputs that may be used to measure fair value: Level 1. Observable inputs such as quoted prices in active markets; Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company’s financial instruments consisted of cash, operating lease right-of-use assets, net, accounts payable and accrued expenses, notes payables, and operating lease liabilities. The estimated fair value of cash, operating lease right-of-use assets, net, and notes payables approximate its carrying amount due to the short maturity of these instruments. Leases In accordance with ASC 842, Leases, the Company determines whether an arrangement contains a lease at inception. A lease is a contract that provides the right to control an identified asset for a period of time in exchange for consideration. For identified leases, the Company determines whether it should be classified as an operating or finance lease. Operating leases are recorded in the balance sheet as: right-of-use asset (“ROU asset”) and operating lease liability. An ROU asset represents the Company’s right to use an underlying asset for the lease term and an operating lease liability represents the Company’s obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at the commencement date of the lease and measured based on the present value of lease payments over the lease term. The ROU asset also includes deferred rent liabilities. The Company’s lease arrangement generally does not provide an implicit interest rate. As a result, in such situations the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option in the measurement of its ROU asset and operating lease liability. Lease expense for the operating lease is recognized on a straight-line basis over the lease term. The Company has a lease agreement with lease and non-lease components, which are accounted for as a single lease component. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases. ASU 2016-02 will also require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company evaluated ASU 2016-02 and adopted this guidance as of January 1, 2019. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In July 2018, the FASB issued ASU No. 2018-10, “Codification Improvements to Topic 842, Leases” (“ASU 2018-10”). The amendments in ASU 2018-10 provide additional clarification and implementation guidance on certain aspects of the previously issued ASU 2016-02 and have the same effective and transition requirements as ASU 2016-02. ASU 2018-10 supersedes the current lease guidance in ASC Topic 840, Leases. Under the new guidance, lessees are required to recognize for all leases, with the exception of short-term leases, a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis. Concurrently, lessees are required to recognize a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2018-10 is effective for emerging growth companies for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The guidance is required to be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative periods presented in the financial statements. The Company adopted this guidance as of January 1, 2019. In July 2018, the FASB issued ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements,” (“ASU 2018-11”). The amendments in ASU 2018-11 related to transition relief on comparative reporting at adoption affect all entities with lease contracts that choose the additional transition method and separating components of a contract affect only lessors whose lease contracts qualify for the practical expedient. The amendments in ASU 2018-11 are effective for emerging growth companies for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company adopted this guidance as of January 1, 2019. In March 2019, the FASB issued ASU 2019-01, “Leases (Topic 842): Codification Improvements” (“Topic 842”) (“ASU 2019-01”). These amendments align the guidance for fair value of the underlying asset by lessors that are not manufacturers or dealers in Topic 842 with that of existing guidance. As a result, the fair value of the underlying asset at lease commencement is its cost, reflecting any volume or trade discounts that may apply. However, if there has been a significant lapse of time between when the underlying asset is acquired and when the lease commences, the definition of fair value (in Topic 820, Fair Value Measurement) should be applied (Issue 1). ASU 2019-01 also requires lessors within the scope of Topic 942, Financial Services—Depository and Lending, to present all “principal payments received under leases” within investing activities (Issue 2). Finally, the ASU exempts both lessees and lessors from having to provide certain interim disclosures in the fiscal year in which a company adopts the new leases standard (Issue 3). The transition and effective date provisions apply to Issue 1 and Issue 2. They do not apply to Issue 3 because the amendments for that Issue are to the original transition requirements in Topic 842. This amendment is for fiscal years beginning after December 15, 2020 and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company evaluated ASU 2019-01 and adopted this guidance as of January 1, 2019. COVID-19 Impact on Concentration of Risk The novel coronavirus (“COVID-19”) pandemic has significantly impacted health and economic conditions throughout the United States and globally, as public concern about becoming ill with the virus has led to the issuance of recommendations and/or mandates from federal, state and local authorities to practice social distancing or self-quarantine. The Company is continually monitoring the outbreak of COVID-19 and the related business and travel restrictions and changes to behavior intended to reduce its spread, and its impact on operations, financial position, cash flows, inventory, supply chains, purchasing trends, customer payments, and the industry in general, in addition to the impact on its employees. We have experienced significant disruptions to our business due to the COVID-19 pandemic and related suggested and mandated social distancing and shelter-in-place orders. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | 3. PROPERTY AND EQUIPMENT Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT December 31 December 31, 2023 2022 Leasehold Improvements $ 4,447,705 $ 3,533,609 Furniture and equipment 902,736 639,424 Vehicles 438,521 161,821 Total property and equipment 5,788,962 4,334,854 Accumulated depreciation (1,696,012 ) (1,176,426 ) Total property and equipment, net $ 4,092,950 $ 3,158,428 Total depreciation was $ 545,549 658,371 |
LINE OF CREDIT
LINE OF CREDIT | 12 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
LINE OF CREDIT | 4. LINE OF CREDIT The Company has a $ 1,000,000 5.50 1,000,000 The line of credit expires in December 2024 1,000,000 300,000 |
BANK NOTES PAYABLES
BANK NOTES PAYABLES | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
BANK NOTES PAYABLES | 5. BANK NOTES PAYABLES SCHEDULE OF BANK NOTES PAYABLE December 31, December 31, 2023 2022 September 22, 2017 ($ 250,000 $ - $ 141,684 November 27, 2018 ($ 780,000 331,022 441,735 February 13, 2020 ($ 255,000 - 197,700 September 14, 2021 ($ 197,000 164,418 138,778 September 15, 2021 ($ 199,000 - 178,905 April 22, 2022 ($ 195,000 174,492 187,284 May 22, 2023 ($ 138,000 121,951 - May 22, 2023 ($ 196,000 173,169 - May 22, 2023 ($ 178,000 158,309 - September 13, 2023 ($ 150,000 141,484 - September 13, 2023 ($ 150,000 141,484 - Total bank notes payables 1,406,329 1,286,086 Less - current portion (414,378 ) (265,943 ) Total bank notes payables, less current portion $ 991,951 $ 1,020,143 The following table provides future minimum payments as of December 31, 2023: SCHEDULE OF FUTURE MINIMUM PAYMENTS For the years ended Amount 2024 $ 414,378 2025 278,074 2026 180,715 2027 180,715 2028 90,029 Thereafter 262,418 Total $ 1,406,329 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 5. BANK NOTES PAYABLES (Continued) September 22, 2017 – $250,000 – Global AA Group, Inc. On September 22, 2017, Global AA Group, Inc. (the “AA”) executed the standard loan documents required for securing a loan of $ 250,000 zero 141,684 November 27, 2018 – $780,000 – Global JJ Group, Inc. On November 27, 2018, Global JJ Group, Inc. (the “JJ”) executed the standard loan documents required for securing a loan of $ 780,000 331,022 441,735 Pursuant to that certain Loan Authorization and Agreement, interest accrues at a variable rate that is subject to change from time to time based on changes in an independent index which is the Prime Rate as published in the Wall Street Journal per annum and will accrue only on funds actually advanced from the date of each advance. The loan requires a payment of $ 12,571.15 10.25 February 13, 2020 – $255,000 – Global CC Group, Inc. On February 13, 2020, Global CC Group, Inc. (the “CC”) executed the standard loan documents required for securing a loan of $ 255,000 zero 197,700 September 14, 2021 – $197,000 – Global CC Group, Inc. On September 14, 2021, the CC executed the standard loan documents required for securing a loan of $ 197,000 164,418 138,778 Pursuant to that certain Loan Authorization and Agreement, interest accrues at a variable rate that is subject to change from time to time based on changes in an independent index which is the Prime Rate as published in the Wall Street Journal per annum and will accrue only on funds actually advanced from the date of each advance. The loan requires a payment of $ 2,575.56 10.50 September 15, 2021– $199,000 – Global DD Group, Inc. On September 15, 2021, Global DD Group, Inc. (the “DD”) executed the standard loan documents required for securing a loan of $ 199,000 zero 178,905 April 22, 2022– $195,000 – Yoshiharu Cerritos. On April 22, 2022, Yoshiharu Cerritos (the “YC”) executed the standard loan documents required for securing a loan of $ 195,000 174,492 187,284 Pursuant to that certain Loan Authorization and Agreement, interest accrues at a variable rate that is subject to change from time to time based on changes in an independent index which is the Prime Rate as published in the Wall Street Journal per annum and will accrue only on funds actually advanced from the date of each advance. The loan requires a payment of $ 2,598.61 10.50 May 22, 2023– $138,000 – Global BB Group, Inc. On May 22, 2023, Global BB Group, Inc. (the “BB”) executed the standard loan documents required for securing a loan of $ 138,000 121,951 Pursuant to that certain Loan Authorization and Agreement, interest accrues at a variable rate that is subject to change from time to time based on changes in an independent index which is the Prime Rate as published in the Wall Street Journal per annum and will accrue only on funds actually advanced from the date of each advance. The loan requires a payment of $ 2,892.36 9.75 May 22, 2023– $196,000 – Global CC Group, Inc. On May 22, 2023, Global CC Group, Inc. (the “CC”) executed the standard loan documents required for securing a loan of $ 196,000 173,169 Pursuant to that certain Loan Authorization and Agreement, interest accrues at a variable rate that is subject to change from time to time based on changes in an independent index which is the Prime Rate as published in the Wall Street Journal per annum and will accrue only on funds actually advanced from the date of each advance. The loan requires a payment of $ 4,107.11 9.75 May 22, 2023– $178,000 – Global DD Group, Inc. On May 22, 2023, Global DD Group, Inc. (the “DD”) executed the standard loan documents required for securing a loan of $ 178,000 158,309 Pursuant to that certain Loan Authorization and Agreement, interest accrues at a variable rate that is subject to change from time to time based on changes in an independent index which is the Prime Rate as published in the Wall Street Journal per annum and will accrue only on funds actually advanced from the date of each advance. The loan requires a payment of $ 3,754.68 9.75 September 13, 2023– $150,000 – Yoshiharu Garden Grove On September 13, 2023, Yoshiharu Garden Grove (the “YG”) executed the standard loan documents required for securing a loan of $ 150,000 141,484 Pursuant to that certain Loan Authorization and Agreement, interest accrues at a variable rate that is subject to change from time to time based on changes in an independent index which is the Prime Rate as published in the Wall Street Journal per annum and will accrue only on funds actually advanced from the date of each advance. The loan requires a payment of $ 3,160.82 9.50 September 13, 2023– $150,000 – Yoshiharu Laguna On September 13, 2023, Yoshiharu Laguna (the “YL”) executed the standard loan documents required for securing a loan of $ 150,000 141,484 Pursuant to that certain Loan Authorization and Agreement, interest accrues at a variable rate that is subject to change from time to time based on changes in an independent index which is the Prime Rate as published in the Wall Street Journal per annum and will accrue only on funds actually advanced from the date of each advance. The loan requires a payment of $ 3,160.82 9.50 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
LOAN PAYABLES, PPP
LOAN PAYABLES, PPP | 12 Months Ended |
Dec. 31, 2023 | |
Loan Payables Ppp | |
LOAN PAYABLES, PPP | 6. LOAN PAYABLES, PPP February 16, 2021 – $131,600 – Global AA Group, Inc. On February 16, 2021, Global AA Group, Inc. (the “AA”) executed the standard loan documents required for securing a Paycheck Protection Program Loan (the “AA PPP Loan”) of $ 131,600 The AA PPP Loan is administered by the SBA. The interest rate of the loan is 1.00 On February 1, 2022, $ 131,600 1,262 February 16, 2021 – $166,700 – Global JJ Group, Inc. On February 16, 2021, Global JJ Group, Inc. (the “JJ”) executed the standard loan documents required for securing a PPP loan (the “JJ PPP Loan”) of $ 166,700 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 6. LOAN PAYABLES, PPP (Continued) The JJ PPP Loan is administered by the SBA. The interest rate of the loan is 1.00 On February 9, 2022, $ 87,600 859 February 16, 2021 – $87,600 – Global BB Group, Inc. On February 16, 2021, Global BB Group, Inc. (the “BB”) executed the standard loan documents required for securing a PPP loan (the “BB PPP Loan”) of $ 87,600 The BB PPP Loan is administered by the SBA. The interest rate of the loan is 1.00 On February 24, 2022, $ 166,700 1,704 |
LOAN PAYABLES, EIDL
LOAN PAYABLES, EIDL | 12 Months Ended |
Dec. 31, 2023 | |
Loan Payables Eidl | |
LOAN PAYABLES, EIDL | 7. LOAN PAYABLES, EIDL SCHEDULE OF LOAN PAYABLES - EIDL December 31, December 31, 2023 2022 June 13, 2020 ($ 150,000 $ 142,104 $ 150,000 June 13, 2020 ($ 150,000 142,119 150,000 July 15, 2020 ($ 150,000 141,642 150,000 Total loans payables, EIDL 425,865 450,000 Less - current portion (10,526 ) (39,652 ) Total loans payables, EIDL, less current portion $ 415,339 $ 410,348 The following table provides future minimum payments as of December 31, 2023: SCHEDULE OF FUTURE MINIMUM PAYMENT For the years ended Amount 2024 $ 10,526 2025 10,927 2026 11,344 2027 11,777 2028 12,226 Thereafter 369,065 Total $ 425,865 June 13, 2020 – $142,104 – Global AA Group, Inc. On June 13, 2020, Global AA Group, Inc. (the “AA”) executed the standard loan documents required for securing a loan (the “EIDL Loan”) from the SBA under its Economic Injury Disaster Loan (“EIDL”) assistance program in light of the impact of the COVID-19 pandemic on the AA’s business. Pursuant to that certain Loan Authorization and Agreement, the AA borrowed an aggregate principal amount of the AA EIDL Loan of $ 150,000 3.75 May 14, 2021 731 thirty years 10,000 In connection therewith, the AA executed (i) a loan for the benefit of the SBA, which contains customary events of default and (ii) a security agreement, granting the SBA a security interest in all tangible and intangible personal property of the AA, which also contains customary events of default. June 13, 2020 – $142,119 – Global BB Group, Inc. On June 13, 2020, Global BB Group, Inc. (the “BB”) executed the standard loan documents required for securing an EIDL loan (the “BB EIDL Loan”) from the SBA in light of the impact of the COVID-19 pandemic on the BB’s business. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 7. LOAN PAYABLES, EIDL (Continued) Pursuant to that certain Loan Authorization and Agreement, the BB borrowed an aggregate principal amount of the BB EIDL Loan of $ 150,000 3.75 May 14, 2021 731 thirty years 10,000 In connection therewith, the BB executed (i) a loan for the benefit of the SBA, which contains customary events of default and (ii) a security agreement, granting the SBA a security interest in all tangible and intangible personal property of the BB, which also contains customary events of default. July 15, 2020 – $141,642 – Global JJ Group, Inc. On July 15, 2020, Global JJ Group, Inc. (the “JJ”) executed the standard loan documents required for securing an EIDL loan (the “JJ EIDL Loan”) from the SBA in light of the impact of the COVID-19 pandemic on the JJ’s business. Pursuant to that certain Loan Authorization and Agreement, the JJ borrowed an aggregate principal amount of the JJ EIDL Loan of $ 150,000 3.75 May 14, 2021 731 thirty years |
LOANS PAYABLE TO FINANCIAL INST
LOANS PAYABLE TO FINANCIAL INSTITUTIONS | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
LOANS PAYABLE TO FINANCIAL INSTITUTIONS | 8. LOANS PAYABLE TO FINANCIAL INSTITUTIONS Loans payable to financial institutions consist of the following: SCHEDULE OF LOANS PAYABLE TO FINANCIAL INSTITUTIONS December 31, December 31, November 17, 2023 ($ 76,400 76,400 44.17 93,972 November 11, 2024 65,896 - November 17, 2023 ($ 115,600 115,600 43.01 142,188 November 11, 2024 101,649 - November 21, 2023 ($ 91,000 91,000 46.27 113,750 November 15, 2024 85,080 - November 30, 2023 ($ 132,100 132,100 43.39 162,483 November 24, 2024 123,276 - November 20, 2023 ($ 89,400 89,400 44.54 110,856 November 14, 2024 81,299 - November 20, 2023 ($ 90,900 90,900 43.99 111,807 November 14, 2024 77,039 - Total loan payable $ 534,239 $ - |
RESTAURANT REVITALIZATION FUND
RESTAURANT REVITALIZATION FUND | 12 Months Ended |
Dec. 31, 2023 | |
Restaurant Revitalization Fund | |
RESTAURANT REVITALIZATION FUND | 9. RESTAURANT REVITALIZATION FUND SCHEDULE OF RESTAURANT REVITALIZED FUNDS December 31, December 31, 2023 2022 June 1, 2021 ( 700,454 $ - $ 700,454 Total restaurant revitalization fund $ - $ 700,454 Less - current portion - Total restaurant revitalization fund, less current portion $ - $ 700,454 June 1, 2021 – $700,454 – Global JJ Group, Inc. On June 1, 2021, Global JJ Group, Inc. (the “JJ”) executed the documents required for securing a Restaurant Revitalization Fund (the “RRF Loan”) of $ 700,454 The RRF Loan is administered by the SBA. The interest rate of the RRF Loan is 0.00 March 11, 2023 On November 28, 2023, $ 700,454 As of December 31, 2023, none of the notes payables, loans payables are in default. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | 10. RELATED PARTY TRANSACTIONS The Company had the following related party transactions: ● Due to related party 24,176 172,720 ● Related party compensation 339,740 916,891 631,968 ● Combination of Entities Under Common Control - 100 3,205,000 100 6,245,900 9,450,900 9,450,900 100 670,000 ● Private Placement - 670,000 2.00 1,340,000 1,340,000 ● Exchange of class A common stock for class B common stock 1,000,000 1,000,000 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 11. COMMITMENTS AND CONTINGENCIES Commitments Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Generally, the implicit rate of interest in arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives. Our variable lease payments primarily consist of maintenance and other operating expenses from our real estate leases. Variable lease payments are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components. The Company has elected to account for these lease and non-lease components as a single lease component. In accordance with ASC 842, the components of lease expense were as follows: SCHEDULE OF OPERATING LEASE EXPENSE For the years ended 2023 2022 December 31, For the years ended 2023 2022 Operating lease expense $ 978,504 $ 530,722 Total lease expense $ 978,504 $ 530,722 In accordance with ASC 842, other information related to leases was as follows: SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASES For the years ended 2023 2022 December 31, For the years ended 2023 2022 Operating cash flows from operating leases $ 826,307 $ 538,909 Cash paid for amounts included in the measurement of lease liabilities $ 826,307 $ 538,909 Weighted-average remaining lease term—operating leases 8.0 Weighted-average discount rate—operating leases 7 % SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Operating Year ending: Lease 2023 $ 893,761 2024 923,862 2025 919,143 2026 882,733 2027 862,836 Thereafter 3,431,562 Total undiscounted cash flows $ 7,913,897 Reconciliation of lease liabilities: Weighted-average remaining lease terms 8.0 Weighted-average discount rate 7 % Present values $ 6,261,765 Lease liabilities—current 572,230 Lease liabilities—long-term 5,689,535 Lease liabilities—total $ 6,261,765 Difference between undiscounted and discounted cash flows $ 1,652,132 Contingencies From time to time, the Company may be involved in certain legal actions and claims arising in the normal course of business. Management is of the opinion that such matters will be resolved without material effect on the Company’s financial condition or results of operations. |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | 12. STOCKHOLDERS’ EQUITY Class A Common Stock The Company has authorization to issue and have outstanding at any one time 49,000,000 0.0001 Each share of class A common stock entitles its holder to one vote on all matters to be voted on by stockholders generally See Note 1 and Note 8 above for details regarding the issuance and redemption of shares of the Company’s class A common stock to and from James Chae, the Company’s majority stockholder, in December 2021. In December 2021, the Company received subscriptions for the sale of 670,000 2.00 1,340,000 1,340,000 In September 2022, the Company consummated its initial public offering (the “IPO”) of 2,940,000 4.00 11,760,000 10.3 1.5 Immediately prior to the IPO, the Company issued 549,100 1.1 549,100 2.00 549,100 The Company also granted the underwriters a 45-day option to purchase up to 441,000 15 5.0 5.00 125 On November 22, 2023, Yoshiharu Global Co. (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of its issued Class A common stock, par value $ 0.0001 0.0001 1-for-10 No fractional shares were issued as a result of the Reverse Stock Split. Instead, any fractional shares that would have resulted from the Reverse Stock Split were rounded up to the next whole number. As a result, total of 34,846 1,230,246 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 12. STOCKHOLDERS’ EQUITY (Continued) Class B Common Stock The Company has authorization to issue and have outstanding at any one time 1,000,000 0.0001 The holders of class B common stock are entitled to 10 votes per share The holders of class B common stock are entitled to dividends as declared by the Company’s Board of Directors from time to time at the same rate per share as the class A common stock. The holders of the class B common stock have the following conversion rights with respect to the class B common stock into shares of class A common stock: ● all of the shares of class B common stock will automatically convert into class A common stock on a one-for-one basis upon the earlier of (A) the date such shares cease to be beneficially owned by James Chae and (B) 5:00 p.m. Pacific Time on the date that James Chae ceases to beneficially own at least 25 ● at the election of the holder of class B common stock, any share of class B common stock may be voluntarily converted into one share of class A common stock. Immediately prior to the IPO in September 2022, the Company exchanged 1,000,000 1,000,000 On November 22, 2023, Yoshiharu Global Co. (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of its issued Class B common stock, par value $ 0.0001 1-for-10 100,000 |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2023 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | 13. EARNINGS PER SHARE The Company calculates earnings per share in accordance with FASB ASC 260, Earnings Per Share, which requires a dual presentation of basic and diluted earnings per share. Basic earnings per share are computed using the weighted average number of shares outstanding during the year. The Company did not have any dilutive common shares for the years ended December 31, 2023 and 2022, respectively. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 14. SUBSEQUENT EVENTS The Company evaluated all events or transactions that occurred after December 31, 2023 up through the date the audited consolidated financial statements were available to be issued. During this period, the Company did not have any material recognizable subsequent events required to be disclosed as of and for the year ended December 31, 2023. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America. The consolidated financial statements include Yoshiharu and its wholly owned subsidiaries listed in Note 1 above as of December 31, 2022 and December 31, 2021 and for the years then ended. All intercompany accounts, transactions, and profits have been eliminated upon consolidation. |
Initial Public Offering | Initial Public Offering In September 2022, the Company consummated its initial public offering (the “IPO”) of 2,940,000 4.00 11,760,000 10.3 1.5 The Company granted the underwriters a 45-day option to purchase up to 441,000 15 5.0 5.00 125 On September 9, 2022, the Company’s stock began trading on the Nasdaq Capital Market under the symbol “YOSH.” |
Deferred Offering Costs | Deferred Offering Costs Deferred offering costs were expenses directly related to the IPO. These costs consisted of legal, accounting, printing, and filing fees. The deferred offering costs were offset against the IPO proceeds in September 2022 and were reclassified to additional paid-in capital upon completion of the IPO. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and the accompanying notes. Such estimates include accounts receivables, accrued liabilities, income taxes, long-lived assets, and deferred tax valuation allowances. These estimates generally involve complex issues and require management to make judgments, involve analysis of historical and future trends that can require extended periods of time to resolve, and are subject to change from period to period. In all cases, actual results could differ materially from estimates. |
Marketing | Marketing Marketing costs are charged to expense as incurred. Marketing costs were approximately $ 121,000 149,000 |
Delivery Fees Charged by Delivery Service Providers | Delivery Fees Charged by Delivery Service Providers The Company’s customers may order online through third party service providers such as Uber Eats, Door Dash, and others. These third-party service providers charge delivery and order fees to the Company. Such fees are expensed when incurred. Delivery fees are included in delivery and service fees in the accompanying consolidated statements of operations. |
Revenue Recognition | Revenue Recognition Revenue from sales is recognized when food and beverages are sold to customers. Revenue represents sales net of discounts and sales taxes collected from customers. |
Inventories | Inventories Inventories, which are stated at the lower of cost or net realizable value, consist primarily of perishable food items and supplies. Cost is determined using the first-in, first out method. |
Segment Reporting | Segment Reporting ASC 280, Segment Reporting, requires public companies to report financial and descriptive information about their reportable operating segments. The Company identifies its operating segments based on how executive decision makers internally evaluates separate financial information, business activities and management responsibility. Accordingly, the Company has one |
Property and Equipment | Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Major improvements are capitalized, and minor replacements, maintenance and repairs are charged to expense as incurred. Depreciation and amortization are calculated on the straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the estimated useful life or the lease term of the related asset. The estimated useful lives are as follows: SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES Furniture and equipment 5 7 Leasehold improvements Shorter of estimated useful life or term of lease Vehicles 5 |
Income Taxes | Income Taxes The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company had no unrecognized tax benefits identified or recorded as liabilities as of December 31, 2023. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets When circumstances, such as adverse market conditions, indicate that the carrying value of a long-lived asset may be impaired, the Company performs an analysis to review the recoverability of the asset’s carrying value, which includes estimating the undiscounted cash flows (excluding interest charges) from the expected future operations of the asset. These estimates consider factors such as expected future operating income, operating trends and prospects, as well as the effects of demand, competition and other factors. If the analysis indicates that the carrying value is not recoverable from future cash flows, an impairment loss is recognized to the extent that the carrying value exceeds the estimated fair value. Any impairment losses are recorded as operating expenses, which reduce net income. |
Concentrations of Credit Risk | Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable and other receivables arising from its normal business activities. The Company has a diversified customer base. The Company controls credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for un-collectible accounts and, as a consequence, believes that its accounts receivable related credit risk exposure beyond such allowance is limited. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company utilizes ASC 820-10, Fair Value Measurement and Disclosure, for valuing financial assets and liabilities measured on a recurring basis. Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability. The guidance establishes three levels of inputs that may be used to measure fair value: Level 1. Observable inputs such as quoted prices in active markets; Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company’s financial instruments consisted of cash, operating lease right-of-use assets, net, accounts payable and accrued expenses, notes payables, and operating lease liabilities. The estimated fair value of cash, operating lease right-of-use assets, net, and notes payables approximate its carrying amount due to the short maturity of these instruments. |
Leases | Leases In accordance with ASC 842, Leases, the Company determines whether an arrangement contains a lease at inception. A lease is a contract that provides the right to control an identified asset for a period of time in exchange for consideration. For identified leases, the Company determines whether it should be classified as an operating or finance lease. Operating leases are recorded in the balance sheet as: right-of-use asset (“ROU asset”) and operating lease liability. An ROU asset represents the Company’s right to use an underlying asset for the lease term and an operating lease liability represents the Company’s obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at the commencement date of the lease and measured based on the present value of lease payments over the lease term. The ROU asset also includes deferred rent liabilities. The Company’s lease arrangement generally does not provide an implicit interest rate. As a result, in such situations the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option in the measurement of its ROU asset and operating lease liability. Lease expense for the operating lease is recognized on a straight-line basis over the lease term. The Company has a lease agreement with lease and non-lease components, which are accounted for as a single lease component. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases. ASU 2016-02 will also require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company evaluated ASU 2016-02 and adopted this guidance as of January 1, 2019. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In July 2018, the FASB issued ASU No. 2018-10, “Codification Improvements to Topic 842, Leases” (“ASU 2018-10”). The amendments in ASU 2018-10 provide additional clarification and implementation guidance on certain aspects of the previously issued ASU 2016-02 and have the same effective and transition requirements as ASU 2016-02. ASU 2018-10 supersedes the current lease guidance in ASC Topic 840, Leases. Under the new guidance, lessees are required to recognize for all leases, with the exception of short-term leases, a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis. Concurrently, lessees are required to recognize a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2018-10 is effective for emerging growth companies for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The guidance is required to be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative periods presented in the financial statements. The Company adopted this guidance as of January 1, 2019. In July 2018, the FASB issued ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements,” (“ASU 2018-11”). The amendments in ASU 2018-11 related to transition relief on comparative reporting at adoption affect all entities with lease contracts that choose the additional transition method and separating components of a contract affect only lessors whose lease contracts qualify for the practical expedient. The amendments in ASU 2018-11 are effective for emerging growth companies for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company adopted this guidance as of January 1, 2019. In March 2019, the FASB issued ASU 2019-01, “Leases (Topic 842): Codification Improvements” (“Topic 842”) (“ASU 2019-01”). These amendments align the guidance for fair value of the underlying asset by lessors that are not manufacturers or dealers in Topic 842 with that of existing guidance. As a result, the fair value of the underlying asset at lease commencement is its cost, reflecting any volume or trade discounts that may apply. However, if there has been a significant lapse of time between when the underlying asset is acquired and when the lease commences, the definition of fair value (in Topic 820, Fair Value Measurement) should be applied (Issue 1). ASU 2019-01 also requires lessors within the scope of Topic 942, Financial Services—Depository and Lending, to present all “principal payments received under leases” within investing activities (Issue 2). Finally, the ASU exempts both lessees and lessors from having to provide certain interim disclosures in the fiscal year in which a company adopts the new leases standard (Issue 3). The transition and effective date provisions apply to Issue 1 and Issue 2. They do not apply to Issue 3 because the amendments for that Issue are to the original transition requirements in Topic 842. This amendment is for fiscal years beginning after December 15, 2020 and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company evaluated ASU 2019-01 and adopted this guidance as of January 1, 2019. |
COVID-19 Impact on Concentration of Risk | COVID-19 Impact on Concentration of Risk The novel coronavirus (“COVID-19”) pandemic has significantly impacted health and economic conditions throughout the United States and globally, as public concern about becoming ill with the virus has led to the issuance of recommendations and/or mandates from federal, state and local authorities to practice social distancing or self-quarantine. The Company is continually monitoring the outbreak of COVID-19 and the related business and travel restrictions and changes to behavior intended to reduce its spread, and its impact on operations, financial position, cash flows, inventory, supply chains, purchasing trends, customer payments, and the industry in general, in addition to the impact on its employees. We have experienced significant disruptions to our business due to the COVID-19 pandemic and related suggested and mandated social distancing and shelter-in-place orders. |
NATURE OF OPERATIONS (Tables)
NATURE OF OPERATIONS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
SCHEDULE OF WHOLLY OWNED SUBSIDIARIES | Yoshiharu Global Co. (“Yoshiharu”) was incorporated in the State of Delaware on December 9, 2021. Yoshiharu did not have significant transactions since formation. Yoshiharu has the following wholly owned subsidiaries: SCHEDULE OF WHOLLY OWNED SUBSIDIARIES Name Date of Formation Description of Business Global JJ Group, Inc. (“JJ”) January 8, 2015 Ramen stores located in Orange, California and Buena Park, California Global AA Group, Inc. (“AA”) July 21, 2016 Ramen store located in Whittier, California Global BB Group, Inc. (“BB”) May 19, 2017 Ramen store located in Chino Hills, California Global CC Group, Inc. (“CC”) September 23, 2019 Ramen stores located in Eastvale, California and Corona, California Global DD Group, Inc. (“DD”) December 19, 2019 Ramen store located in la Mirada, California Yoshiharu Irvine (“YI”) December 4, 2020 Ramen store located in Irvine, California Yoshiharu Cerritos (“YC”) January 21, 2021 Ramen store located in Cerritos, California Yoshiharu Clemente (“YCT”) May 2, 2022 Ramen store to be opened in San Clemente, California Yoshiharu Laguna (“YL”) May 2, 2022 Ramen store to be opened in Laguna, California Yoshiharu Ontario (“YO”) May 2, 2022 Ramen store to be opened in Ontario, California Yoshiharu Menifee (“YM”) May 2, 2022 Ramen store to be opened in Menifee, California Yoshiharu Garden Grove (“YG”) July 27, 2022 Ramen store to be opened in Garden Grove, California |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES | SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES Furniture and equipment 5 7 Leasehold improvements Shorter of estimated useful life or term of lease Vehicles 5 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT | Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT December 31 December 31, 2023 2022 Leasehold Improvements $ 4,447,705 $ 3,533,609 Furniture and equipment 902,736 639,424 Vehicles 438,521 161,821 Total property and equipment 5,788,962 4,334,854 Accumulated depreciation (1,696,012 ) (1,176,426 ) Total property and equipment, net $ 4,092,950 $ 3,158,428 |
BANK NOTES PAYABLES (Tables)
BANK NOTES PAYABLES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Short-Term Debt [Line Items] | |
SCHEDULE OF BANK NOTES PAYABLE | SCHEDULE OF BANK NOTES PAYABLE December 31, December 31, 2023 2022 September 22, 2017 ($ 250,000 $ - $ 141,684 November 27, 2018 ($ 780,000 331,022 441,735 February 13, 2020 ($ 255,000 - 197,700 September 14, 2021 ($ 197,000 164,418 138,778 September 15, 2021 ($ 199,000 - 178,905 April 22, 2022 ($ 195,000 174,492 187,284 May 22, 2023 ($ 138,000 121,951 - May 22, 2023 ($ 196,000 173,169 - May 22, 2023 ($ 178,000 158,309 - September 13, 2023 ($ 150,000 141,484 - September 13, 2023 ($ 150,000 141,484 - Total bank notes payables 1,406,329 1,286,086 Less - current portion (414,378 ) (265,943 ) Total bank notes payables, less current portion $ 991,951 $ 1,020,143 |
Notes Payable to Banks [Member] | |
Short-Term Debt [Line Items] | |
SCHEDULE OF FUTURE MINIMUM PAYMENTS | The following table provides future minimum payments as of December 31, 2023: SCHEDULE OF FUTURE MINIMUM PAYMENTS For the years ended Amount 2024 $ 414,378 2025 278,074 2026 180,715 2027 180,715 2028 90,029 Thereafter 262,418 Total $ 1,406,329 |
LOAN PAYABLES, EIDL (Tables)
LOAN PAYABLES, EIDL (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Short-Term Debt [Line Items] | |
SCHEDULE OF LOAN PAYABLES - EIDL | SCHEDULE OF LOAN PAYABLES - EIDL December 31, December 31, 2023 2022 June 13, 2020 ($ 150,000 $ 142,104 $ 150,000 June 13, 2020 ($ 150,000 142,119 150,000 July 15, 2020 ($ 150,000 141,642 150,000 Total loans payables, EIDL 425,865 450,000 Less - current portion (10,526 ) (39,652 ) Total loans payables, EIDL, less current portion $ 415,339 $ 410,348 |
Economic Injury Disaster Loan [Member] | |
Short-Term Debt [Line Items] | |
SCHEDULE OF FUTURE MINIMUM PAYMENT | The following table provides future minimum payments as of December 31, 2023: SCHEDULE OF FUTURE MINIMUM PAYMENT For the years ended Amount 2024 $ 10,526 2025 10,927 2026 11,344 2027 11,777 2028 12,226 Thereafter 369,065 Total $ 425,865 |
LOANS PAYABLE TO FINANCIAL IN_2
LOANS PAYABLE TO FINANCIAL INSTITUTIONS (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF LOANS PAYABLE TO FINANCIAL INSTITUTIONS | Loans payable to financial institutions consist of the following: SCHEDULE OF LOANS PAYABLE TO FINANCIAL INSTITUTIONS December 31, December 31, November 17, 2023 ($ 76,400 76,400 44.17 93,972 November 11, 2024 65,896 - November 17, 2023 ($ 115,600 115,600 43.01 142,188 November 11, 2024 101,649 - November 21, 2023 ($ 91,000 91,000 46.27 113,750 November 15, 2024 85,080 - November 30, 2023 ($ 132,100 132,100 43.39 162,483 November 24, 2024 123,276 - November 20, 2023 ($ 89,400 89,400 44.54 110,856 November 14, 2024 81,299 - November 20, 2023 ($ 90,900 90,900 43.99 111,807 November 14, 2024 77,039 - Total loan payable $ 534,239 $ - |
RESTAURANT REVITALIZATION FUND
RESTAURANT REVITALIZATION FUND (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Restaurant Revitalization Fund | |
SCHEDULE OF RESTAURANT REVITALIZED FUNDS | SCHEDULE OF RESTAURANT REVITALIZED FUNDS December 31, December 31, 2023 2022 June 1, 2021 ( 700,454 $ - $ 700,454 Total restaurant revitalization fund $ - $ 700,454 Less - current portion - Total restaurant revitalization fund, less current portion $ - $ 700,454 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
SCHEDULE OF OPERATING LEASE EXPENSE | In accordance with ASC 842, the components of lease expense were as follows: SCHEDULE OF OPERATING LEASE EXPENSE For the years ended 2023 2022 December 31, For the years ended 2023 2022 Operating lease expense $ 978,504 $ 530,722 Total lease expense $ 978,504 $ 530,722 |
SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASES | In accordance with ASC 842, other information related to leases was as follows: SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASES For the years ended 2023 2022 December 31, For the years ended 2023 2022 Operating cash flows from operating leases $ 826,307 $ 538,909 Cash paid for amounts included in the measurement of lease liabilities $ 826,307 $ 538,909 Weighted-average remaining lease term—operating leases 8.0 Weighted-average discount rate—operating leases 7 % |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS | SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Operating Year ending: Lease 2023 $ 893,761 2024 923,862 2025 919,143 2026 882,733 2027 862,836 Thereafter 3,431,562 Total undiscounted cash flows $ 7,913,897 Reconciliation of lease liabilities: Weighted-average remaining lease terms 8.0 Weighted-average discount rate 7 % Present values $ 6,261,765 Lease liabilities—current 572,230 Lease liabilities—long-term 5,689,535 Lease liabilities—total $ 6,261,765 Difference between undiscounted and discounted cash flows $ 1,652,132 |
SCHEDULE OF WHOLLY OWNED SUBSID
SCHEDULE OF WHOLLY OWNED SUBSIDIARIES (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Global JJ Group Inc [Member] | |
Name of subsidiary | Global JJ Group, Inc. (“JJ”) |
Date of formation | Jan. 08, 2015 |
Description of business | Ramen stores located in Orange, California and Buena Park, California |
Global AA Group Inc [Member] | |
Name of subsidiary | Global AA Group, Inc. (“AA”) |
Date of formation | Jul. 21, 2016 |
Description of business | Ramen store located in Whittier, California |
Global BB Group Inc [Member] | |
Name of subsidiary | Global BB Group, Inc. (“BB”) |
Date of formation | May 19, 2017 |
Description of business | Ramen store located in Chino Hills, California |
Global CC Group Inc [Member] | |
Name of subsidiary | Global CC Group, Inc. (“CC”) |
Date of formation | Sep. 23, 2019 |
Description of business | Ramen stores located in Eastvale, California and Corona, California |
Global DD Group Inc [Member] | |
Name of subsidiary | Global DD Group, Inc. (“DD”) |
Date of formation | Dec. 19, 2019 |
Description of business | Ramen store located in la Mirada, California |
Yoshiharu Irvine [Member] | |
Name of subsidiary | Yoshiharu Irvine (“YI”) |
Date of formation | Dec. 04, 2020 |
Description of business | Ramen store located in Irvine, California |
Yoshiharu Cerritos [Member] | |
Name of subsidiary | Yoshiharu Cerritos (“YC”) |
Date of formation | Jan. 21, 2021 |
Description of business | Ramen store located in Cerritos, California |
Yoshiharu Clemente [Member] | |
Name of subsidiary | Yoshiharu Clemente (“YCT”) |
Date of formation | May 02, 2022 |
Description of business | Ramen store to be opened in San Clemente, California |
Yoshiharu Laguna [Member] | |
Name of subsidiary | Yoshiharu Laguna (“YL”) |
Date of formation | May 02, 2022 |
Description of business | Ramen store to be opened in Laguna, California |
Yoshiharu Ontario [Member] | |
Name of subsidiary | Yoshiharu Ontario (“YO”) |
Date of formation | May 02, 2022 |
Description of business | Ramen store to be opened in Ontario, California |
Yoshiharu Menifee [Member] | |
Name of subsidiary | Yoshiharu Menifee (“YM”) |
Date of formation | May 02, 2022 |
Description of business | Ramen store to be opened in Menifee, California |
Yoshiharu Garden Grove [Member] | |
Name of subsidiary | Yoshiharu Garden Grove (“YG”) |
Date of formation | Jul. 27, 2022 |
Description of business | Ramen store to be opened in Garden Grove, California |
NATURE OF OPERATIONS (Details N
NATURE OF OPERATIONS (Details Narrative) - $ / shares | 1 Months Ended | ||||
Dec. 31, 2023 | Nov. 22, 2023 | Dec. 09, 2021 | Oct. 31, 2021 | Dec. 31, 2022 | |
Reverse stock split | 1-for-10 | ||||
Common Class A [Member] | |||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Shares issued during reverse stock split | 34,846 | ||||
Common stock, shares outstanding | 1,230,246 | 1,228,246 | |||
Common Class B [Member] | |||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Common stock, shares outstanding | 100,000 | 100,000 | |||
James Chae [Member] | |||||
Ownership percentage | 100% | 100% | |||
Issuance of shares | 9,450,900 | 3,205,000 | |||
Issuance of shares for intellectual property | 6,245,900 | ||||
James Chae [Member] | Maximum [Member] | |||||
Issuance of shares | 9,450,900 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES (Details) | 12 Months Ended |
Dec. 31, 2023 | |
Furniture and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment useful life | 5 years |
Furniture and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment useful life | 7 years |
Leasehold Improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment useful life | Shorter of estimated useful life or term of lease |
Vehicles [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment useful life | 5 years |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 1 Months Ended | 12 Months Ended | |
Sep. 30, 2022 USD ($) $ / shares shares | Dec. 31, 2023 USD ($) Segment | Dec. 31, 2022 USD ($) | |
Issuance of shares gross proceeds | $ 56,000 | $ 11,383,850 | |
Marketing costs | $ 121,000 | $ 149,000 | |
Number of reportable segments | Segment | 1 | ||
IPO [Member] | Warrant [Member] | |||
Sale of stock, percentage | 5% | ||
IPO [Member] | Common Class A [Member] | |||
Option to purchase shares | shares | 2,940,000 | ||
Share price per share | $ / shares | $ 4 | ||
Issuance of shares gross proceeds | $ 11,760,000 | ||
Net proceeds from sale of stock | 10,300,000 | ||
Underwriting discounts, commissions and other offering expenses | $ 1,500,000 | ||
Sale of stock, percentage | 125% | ||
Initial exercise price per share | $ / shares | $ 5 | ||
IPO [Member] | Common Class A [Member] | Underwriters [Member] | |||
Option to purchase shares | shares | 441,000 | ||
Sale of stock, percentage | 15% |
SCHEDULE OF PROPERTY AND EQUI_2
SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 5,788,962 | $ 4,334,854 |
Accumulated depreciation | (1,696,012) | (1,176,426) |
Total property and equipment, net | 4,092,950 | 3,158,428 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 4,447,705 | 3,533,609 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 902,736 | 639,424 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 438,521 | $ 161,821 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation | $ 545,549 | $ 658,371 |
LINE OF CREDIT (Details Narrati
LINE OF CREDIT (Details Narrative) - Line of Credit [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Short-Term Debt [Line Items] | ||
Line of credit | $ 1,000,000 | $ 300,000 |
Line of credit facility interest rate during period | 5.50% | |
Interest bearing domestic deposit certificates of deposits | $ 1,000,000 | |
Line of credit facility expiration | The line of credit expires in December 2024 |
SCHEDULE OF BANK NOTES PAYABLE
SCHEDULE OF BANK NOTES PAYABLE (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Short-Term Debt [Line Items] | ||
Total bank notes payables | $ 1,406,329 | $ 1,286,086 |
Less - current portion | (414,378) | (265,943) |
Total bank notes payables, less current portion | 991,951 | 1,020,143 |
September 22, 2017 - AA [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 141,684 | |
November 27, 2018 - JJ [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 331,022 | 441,735 |
February 13, 2020 - CC [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 197,700 | |
September 14, 2021 - CC [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 164,418 | 138,778 |
September 15, 2021 - DD [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 178,905 | |
April Twenty Two Two Thousand Twenty Two [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 174,492 | 187,284 |
May 22, 2023 - BB [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 121,951 | |
May 22, 2023 - CC [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 173,169 | |
May 22, 2023 - DD [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 158,309 | |
September 13, 2023 - Garden Grove [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | 141,484 | |
September 13, 2023 - Laguna [Member] | ||
Short-Term Debt [Line Items] | ||
Total bank notes payables | $ 141,484 |
SCHEDULE OF BANK NOTES PAYABL_2
SCHEDULE OF BANK NOTES PAYABLE (Details) (Parenthetical) | Dec. 31, 2023 USD ($) |
September 22, 2017 - AA [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | $ 250,000 |
November 27, 2018 - JJ [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | 780,000 |
February 13, 2020 - CC [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | 255,000 |
September 14, 2021 - CC [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | 197,000 |
September 15, 2021 - DD [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | 199,000 |
April Twenty Two Two Thousand Twenty Two [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | 195,000 |
May 22, 2023 - BB [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | 138,000 |
May 22, 2023 - CC [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | 196,000 |
May 22, 2023 - DD [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | 178,000 |
September 13, 2023 - Garden Grove [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | 150,000 |
September 13, 2023 - Laguna [Member] | |
Short-Term Debt [Line Items] | |
Notes payable | $ 150,000 |
SCHEDULE OF FUTURE MINIMUM PAYM
SCHEDULE OF FUTURE MINIMUM PAYMENTS (Details) - Notes Payable to Banks [Member] | Dec. 31, 2023 USD ($) |
Short-Term Debt [Line Items] | |
2024 | $ 414,378 |
2025 | 278,074 |
2026 | 180,715 |
2027 | 180,715 |
2028 | 90,029 |
Thereafter | 262,418 |
Total | $ 1,406,329 |
BANK NOTES PAYABLES (Details Na
BANK NOTES PAYABLES (Details Narrative) - USD ($) | Sep. 13, 2023 | May 22, 2023 | Apr. 22, 2022 | Sep. 14, 2021 | Nov. 27, 2018 | Dec. 31, 2023 | Dec. 31, 2022 | Sep. 15, 2021 | Feb. 13, 2020 | Sep. 22, 2017 |
Short-Term Debt [Line Items] | ||||||||||
Loan payable | $ 1,406,329 | $ 1,286,086 | ||||||||
September 22, 2017 - AA [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 250,000 | |||||||||
Loan payable | 141,684 | |||||||||
November 27, 2018 - JJ [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 780,000 | |||||||||
Loan payable | 331,022 | 441,735 | ||||||||
Monthly payment amount | $ 12,571.15 | |||||||||
Interest rate percentage | 10.25% | |||||||||
February 13, 2020 - CC [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 255,000 | |||||||||
Loan payable | 197,700 | |||||||||
September 14, 2021 - CC [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 197,000 | |||||||||
Loan payable | 164,418 | 138,778 | ||||||||
Monthly payment amount | $ 2,575.56 | |||||||||
Interest rate percentage | 10.50% | |||||||||
September 15, 2021 - DD [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 199,000 | |||||||||
Loan payable | 178,905 | |||||||||
April Twenty Two Two Thousand Twenty Two [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 195,000 | |||||||||
Loan payable | 174,492 | 187,284 | ||||||||
Monthly payment amount | $ 2,598.61 | |||||||||
Interest rate percentage | 10.50% | |||||||||
May 22, 2023 - BB [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 138,000 | |||||||||
Loan payable | 121,951 | |||||||||
Monthly payment amount | $ 2,892.36 | |||||||||
Interest rate percentage | 9.75% | |||||||||
May 22, 2023 - CC [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 196,000 | |||||||||
Loan payable | 173,169 | |||||||||
Monthly payment amount | $ 4,107.11 | |||||||||
Interest rate percentage | 9.75% | |||||||||
May 22, 2023 - DD [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 178,000 | |||||||||
Loan payable | 158,309 | |||||||||
Monthly payment amount | $ 3,754.68 | |||||||||
Interest rate percentage | 9.75% | |||||||||
September 13, 2023 - Garden Grove [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 150,000 | |||||||||
Loan payable | 141,484 | |||||||||
Monthly payment amount | $ 3,160.82 | |||||||||
Interest rate percentage | 9.50% | |||||||||
September 13, 2023 - Laguna [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Loan amount | $ 150,000 | |||||||||
Loan payable | $ 141,484 | |||||||||
Monthly payment amount | $ 3,160.82 | |||||||||
Interest rate percentage | 9.50% |
LOAN PAYABLES, PPP (Details Nar
LOAN PAYABLES, PPP (Details Narrative) - Paycheck Protection Program Loan [Member] - USD ($) | Feb. 24, 2022 | Feb. 09, 2022 | Feb. 01, 2022 | Feb. 16, 2021 |
Global AA Group Inc [Member] | ||||
Loan amount | $ 131,600 | |||
Interest rate percentage | 1% | |||
Loan principal amount forgiven | $ 131,600 | |||
Interest amount forgiven | $ 1,262 | |||
Global JJ Group Inc [Member] | ||||
Loan amount | $ 166,700 | |||
Interest rate percentage | 1% | |||
Loan principal amount forgiven | $ 87,600 | |||
Interest amount forgiven | $ 859 | |||
Global BB Group Inc [Member] | ||||
Loan amount | $ 87,600 | |||
Interest rate percentage | 1% | |||
Loan principal amount forgiven | $ 166,700 | |||
Interest amount forgiven | $ 1,704 |
SCHEDULE OF LOAN PAYABLES - EID
SCHEDULE OF LOAN PAYABLES - EIDL (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Total loans payables, EIDL | $ 425,865 | $ 450,000 |
Less - current portion | (10,526) | (39,652) |
Total loans payables, EIDL, less current portion | 415,339 | 410,348 |
Global AA Group Inc [Member] | ||
Total loans payables, EIDL | 142,104 | 150,000 |
Global BB Group Inc [Member] | ||
Total loans payables, EIDL | 142,119 | 150,000 |
Global JJ Group Inc [Member] | ||
Total loans payables, EIDL | $ 141,642 | $ 150,000 |
SCHEDULE OF LOAN PAYABLES - E_2
SCHEDULE OF LOAN PAYABLES - EIDL (Details) (Parenthetical) | Dec. 31, 2023 USD ($) |
Global AA Group Inc [Member] | |
EIDL loan amount | $ 150,000 |
Global BB Group Inc [Member] | |
EIDL loan amount | 150,000 |
Global JJ Group Inc [Member] | |
EIDL loan amount | $ 150,000 |
SCHEDULE OF FUTURE MINIMUM PA_2
SCHEDULE OF FUTURE MINIMUM PAYMENT (Details) - Economic Injury Disaster Loan [Member] | Dec. 31, 2023 USD ($) |
Short-Term Debt [Line Items] | |
2024 | $ 10,526 |
2025 | 10,927 |
2026 | 11,344 |
2027 | 11,777 |
2028 | 12,226 |
Thereafter | 369,065 |
Total | $ 425,865 |
LOAN PAYABLES, EIDL (Details Na
LOAN PAYABLES, EIDL (Details Narrative) - Economic Injury Disaster Loan [Member] - USD ($) | Jul. 15, 2020 | Jun. 13, 2020 |
Global AA Group Inc [Member] | ||
Loan principal amount | $ 150,000 | |
Interest rate percentage | 3.75% | |
Loan first payment date | May 14, 2021 | |
Loan monthly payable amount | $ 731 | |
Loan payment period | thirty years | |
Grant received | $ 10,000 | |
Global BB Group Inc [Member] | ||
Loan principal amount | $ 150,000 | |
Interest rate percentage | 3.75% | |
Loan first payment date | May 14, 2021 | |
Loan monthly payable amount | $ 731 | |
Loan payment period | thirty years | |
Grant received | $ 10,000 | |
Global JJ Group Inc [Member] | ||
Loan principal amount | $ 150,000 | |
Interest rate percentage | 3.75% | |
Loan first payment date | May 14, 2021 | |
Loan monthly payable amount | $ 731 | |
Loan payment period | thirty years |
SCHEDULE OF LOANS PAYABLE TO FI
SCHEDULE OF LOANS PAYABLE TO FINANCIAL INSTITUTIONS (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Short-Term Debt [Line Items] | ||
Total loan payable | $ 534,239 | |
AA Loan Agreement [Member] | ||
Short-Term Debt [Line Items] | ||
Total loan payable | 65,896 | |
BB Loan Agreement [Member] | ||
Short-Term Debt [Line Items] | ||
Total loan payable | 101,649 | |
CC (CO) Loan Agreement [Member] | ||
Short-Term Debt [Line Items] | ||
Total loan payable | 85,080 | |
CC (EV) Loan Agreement [Member] | ||
Short-Term Debt [Line Items] | ||
Total loan payable | 123,276 | |
JJ (BP) Loan Agreement [Member] | ||
Short-Term Debt [Line Items] | ||
Total loan payable | 81,299 | |
JJ (OR) Loan Agreement [Member] | ||
Short-Term Debt [Line Items] | ||
Total loan payable | $ 77,039 |
SCHEDULE OF LOANS PAYABLE FINAN
SCHEDULE OF LOANS PAYABLE FINANCIAL INSTITUTIONS (Details) (Parenthetical) - USD ($) | Nov. 30, 2023 | Nov. 21, 2023 | Nov. 20, 2023 | Nov. 17, 2023 |
AA Loan Agreement [Member] | ||||
Short-Term Debt [Line Items] | ||||
Principal amount | $ 76,400 | |||
Repayment rate | 44.17% | |||
Loan repayment amount | $ 93,972 | |||
Loan payable maturity date | Nov. 11, 2024 | |||
BB Loan Agreement [Member] | ||||
Short-Term Debt [Line Items] | ||||
Principal amount | $ 115,600 | |||
Repayment rate | 43.01% | |||
Loan repayment amount | $ 142,188 | |||
Loan payable maturity date | Nov. 11, 2024 | |||
CC (CO) Loan Agreement [Member] | ||||
Short-Term Debt [Line Items] | ||||
Principal amount | $ 91,000 | |||
Repayment rate | 46.27% | |||
Loan repayment amount | $ 113,750 | |||
Loan payable maturity date | Nov. 15, 2024 | |||
CC (EV) Loan Agreement [Member] | ||||
Short-Term Debt [Line Items] | ||||
Principal amount | $ 132,100 | |||
Repayment rate | 43.39% | |||
Loan repayment amount | $ 162,483 | |||
Loan payable maturity date | Nov. 24, 2024 | |||
JJ (BP) Loan Agreement [Member] | ||||
Short-Term Debt [Line Items] | ||||
Principal amount | $ 89,400 | |||
Repayment rate | 44.54% | |||
Loan repayment amount | $ 110,856 | |||
Loan payable maturity date | Nov. 14, 2024 | |||
JJ (OR) Loan Agreement [Member] | ||||
Short-Term Debt [Line Items] | ||||
Principal amount | $ 90,900 | |||
Repayment rate | 43.99% | |||
Loan repayment amount | $ 111,807 | |||
Loan payable maturity date | Nov. 14, 2024 |
SCHEDULE OF RESTAURANT REVITALI
SCHEDULE OF RESTAURANT REVITALIZED FUNDS (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Total restaurant revitalization fund | $ 700,454 | |
Less - current portion | ||
Total restaurant revitalization fund, less current portion | 700,454 | |
Global JJ Group Inc [Member] | ||
Total restaurant revitalization fund | $ 700,454 |
SCHEDULE OF RESTAURANT REVITA_2
SCHEDULE OF RESTAURANT REVITALIZATION FUND (Details) (Parenthetical) - USD ($) | Dec. 31, 2023 | Jun. 01, 2021 |
Global JJ Group Inc [Member] | Restaurant Revitalization Fund Loan [Member] | ||
Loan amount | $ 700,454 | $ 700,454 |
RESTAURANT REVITALIZATION FUN_2
RESTAURANT REVITALIZATION FUND (Details Narrative) - Global JJ Group Inc [Member] - Restaurant Revitalization Fund Loan [Member] - USD ($) | Nov. 28, 2023 | Dec. 31, 2023 | Jun. 01, 2021 |
Loan amount | $ 700,454 | $ 700,454 | |
Interest rate percentage | 0% | ||
Loan principal amount forgiven | $ 700,454 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Aug. 31, 2022 | Dec. 09, 2021 | Sep. 30, 2022 | Dec. 31, 2021 | Oct. 31, 2021 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
James Chae [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Ownership percentage | 100% | 100% | ||||||
Issuance of shares | 9,450,900 | 3,205,000 | ||||||
Issuance of shares for intellectual property | 6,245,900 | |||||||
Redemption of shares | 670,000 | |||||||
James Chae [Member] | Maximum [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Issuance of shares | 9,450,900 | |||||||
IPO [Member] | Common Class A [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Issuance of shares | 2,940,000 | |||||||
Sale of stock price per share | $ 4 | |||||||
Private Placement [Member] | Common Class A [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Sale of stock | 670,000 | |||||||
Sale of stock price per share | $ 2 | |||||||
Expected proceeds from sale of shares | $ 1,340,000 | |||||||
Proceeds received from sale of shares | $ 1,340,000 | |||||||
Related Party [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Due to related party | $ 24,176 | $ 172,720 | ||||||
James Chae [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Related party compensation | $ 339,740 | 916,891 | ||||||
James Chae [Member] | Common Class A [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Common stock, shares exchanged | 1,000,000 | |||||||
James Chae [Member] | Common Class B [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Common stock, shares issued | 1,000,000 | |||||||
James Chae [Member] | IPO [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Related party compensation | $ 631,968 |
SCHEDULE OF OPERATING LEASE EXP
SCHEDULE OF OPERATING LEASE EXPENSE (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Operating lease expense | $ 978,504 | $ 530,722 |
Total lease expense | $ 978,504 | $ 530,722 |
SCHEDULE OF OTHER INFORMATION R
SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASES (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Operating cash flows from operating leases | $ 826,307 | $ 538,909 |
Cash paid for amounts included in the measurement of lease liabilities | $ 826,307 | $ 538,909 |
Weighted-average remaining lease term-operating leases | 8 years | |
Weighted-average discount rate-operating leases | 7% |
SCHEDULE OF FUTURE MINIMUM LEAS
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
2023 | $ 893,761 | |
2024 | 923,862 | |
2025 | 919,143 | |
2026 | 882,733 | |
2027 | 862,836 | |
Thereafter | 3,431,562 | |
Total undiscounted cash flows | $ 7,913,897 | |
Weighted-average remaining lease terms | 8 years | |
Weighted-average discount rate | 7% | |
Lease liabilities—total | $ 6,261,765 | |
Lease liabilities—current | 572,230 | $ 458,803 |
Lease liabilities—long-term | 5,689,535 | $ 6,261,767 |
Difference between undiscounted and discounted cash flows | $ 1,652,132 |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2023 | Nov. 22, 2023 | Aug. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Class of Stock [Line Items] | ||||||||
Issuance of shares gross proceeds | $ 56,000 | $ 11,383,850 | ||||||
Reverse stock split | 1-for-10 | |||||||
James Chae [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Ownership percentage | 25% | 25% | ||||||
IPO [Member] | Warrant [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Sale of stock, percentage | 5% | |||||||
IPO [Member] | Underwriters [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Option to purchase shares | 441,000 | |||||||
Common Class A [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Common stock, shares authorized | 49,000,000 | 49,000,000 | 49,000,000 | |||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||
Common stock, voting rights | Each share of class A common stock entitles its holder to one vote on all matters to be voted on by stockholders generally | |||||||
Shares issued during reverse stock split | 34,846 | |||||||
Common stock, shares outstanding | 1,230,246 | 1,230,246 | 1,228,246 | |||||
Common stock, shares issued | 1,230,246 | 1,230,246 | 1,228,246 | |||||
Common Class A [Member] | James Chae [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Shares exchanged | 1,000,000 | |||||||
Common Class A [Member] | Directors and Consultants [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Issued shares | 549,100 | |||||||
Compensation expense | $ 1,100,000 | |||||||
Share price | $ 2 | |||||||
Common Class A [Member] | Private Placement [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Sale of stock | 670,000 | |||||||
Share price per share | $ 2 | |||||||
Expected proceeds from sale of shares | $ 1,340,000 | |||||||
Proceeds received from sale of shares | $ 1,340,000 | |||||||
Common Class A [Member] | IPO [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share price per share | $ 4 | |||||||
Option to purchase shares | 2,940,000 | |||||||
Issuance of shares gross proceeds | $ 11,760,000 | |||||||
Net proceeds from sale of stock | 10,300,000 | |||||||
Underwriting discounts, commissions and other offering expenses | $ 1,500,000 | |||||||
Sale of stock, percentage | 125% | |||||||
Initial exercise price per share | $ 5 | |||||||
Common Class A [Member] | IPO [Member] | Underwriters [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Sale of stock, percentage | 15% | |||||||
Common Class B [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Common stock, shares authorized | 1,000,000 | 1,000,000 | 1,000,000 | |||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||
Common stock, voting rights | The holders of class B common stock are entitled to 10 votes per share | |||||||
Common stock, shares outstanding | 100,000 | 100,000 | 100,000 | |||||
Common stock, shares issued | 100,000 | 100,000 | 100,000 | |||||
Common Class B [Member] | James Chae [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Shares issued in exchange | 1,000,000 |