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Selected Account Information
 3 Months Ended
Dec. 31, 2021
Selected Account Information  
Selected Account Information

6. Selected Account Information

 

The components of accounts receivable, net are as follows (in thousands):

 

   December 31, 2021   September 30, 2021 
Credit card receivables  $2,300   $1,447 
Income tax refundable   1,542    4,472 
Insurance receivable   -    185 
ATM in-transit   684    277 
Other (net of allowance for doubtful accounts of $414 and $382, respectively)   1,486    1,189 
Total accounts receivable, net  $6,012   $7,570 

 

Notes receivable consist primarily of secured promissory notes executed between the Company and various buyers of our businesses and assets with interest rates ranging from 6% to 9% per annum and having terms ranging from 1 to 20 years, net of allowance for doubtful notes amounting to $118,000 and $102,000 as of December 31, 2021 and September 30, 2021, respectively.

 

The components of prepaid expenses and other current assets are as follows (in thousands):

 

   December 31, 2021   September 30, 2021 
Prepaid insurance  $6,835   $277 
Prepaid legal   37    112 
Prepaid taxes and licenses   216    380 
Prepaid rent   251    309 
Other   906    850 
Total prepaid expenses and other current assets  $8,245   $1,928 

 

A reconciliation of goodwill as of December 31, 2021 and September 30, 2021 is as follows (in thousands):

   Gross   Accumulated Impairment   Net 
Balance at September 30, 2021  $59,967   $20,588   $39,379 
Acquisitions   15,105    -    15,105 
Balance at December 31, 2021  $75,072   $20,588   $54,484 

 

The components of intangible assets, net are as follows (in thousands):

 Schedule of Components of Intangible Assets

    December 31, 2021     September 30, 2021  
Indefinite-lived:                
Licenses   $ 115,266     $ 65,186  
Trademarks     9,675       2,215  
Domain names     23       23  
                 
Definite-lived:                
Noncompete agreements     137       182  
Discounted leases     84       86  
Software     129       132  
Total intangible assets, net   $ 125,314     $ 67,824  

 

The components of accrued liabilities are as follows (in thousands):

 

   December 31, 2021   September 30, 2021 
Insurance  $6,785   $54 
Sales and liquor taxes   2,255    2,261 
Payroll and related costs   3,887    3,220 
Property taxes   2,506    2,178 
Interest   366    145 
Patron tax   455    452 
Unearned revenues   563    354 
Lawsuit settlement   245    378 
Other   1,351    1,361 
Total accrued liabilities  $18,413   $10,403 

 

The components of selling, general and administrative expenses are as follows (in thousands):

 

   2021   2020 
   For the Three Months 
   Ended December 31, 
   2021   2020 
Taxes and permits  $2,236   $2,028 
Advertising and marketing   2,383    1,189 
Supplies and services   1,980    1,228 
Insurance   2,395    1,457 
Legal   1,060    861 
Lease   1,640    977 
Charge card fees   1,331    564 
Utilities   935    713 
Security   1,087    860 
Accounting and professional fees   1,346    715 
Repairs and maintenance   725    573 
Other   1,368    987 
Total selling, general and administrative expenses  $18,486   $12,152 

 

The components of non-operating gains (losses), net are as follows:

 

   2021   2020 
   For the Three Months 
   Ended December 31, 
   2021   2020 
Gain on debt extinguishment  $85   $4,949 
Unrealized loss on equity securities   (1)   (33)
Non-operating gains, net  $84   $4,916 

 

 

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)