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Basis of Presentation and Recent Accounting Pronouncements (Tables)

9 Months Ended

Oct. 01, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Revisions to Previously Issued Consolidated Financial Statements

The following tables reflect the effects of the correction on all affected line items of the Company's previously reported Condensed Consolidated Financial Statements presented in this Form 10-Q:

CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited)
			Twelve Weeks Ended October 2, 2022									Forty Weeks Ended October 2, 2022
(in thousands)			As Previously Reported			Adjustment			As Corrected			As Previously Reported			Adjustment			As Corrected
Restaurant revenue			$	282,449		$	(34)		$	282,415		$	951,718		$	(85)		$	951,633
Franchise and other revenues			4,439			(49)			4,390			24,810			(508)			24,302
Total revenues			286,888			(83)			286,805			976,528			(593)			975,935
Loss before income taxes			(12,610)			(83)			(12,693)			(33,152)			(593)			(33,744)
Net loss			(12,567)			(83)			(12,650)			(33,605)			(593)			(34,197)
Net loss per share			(0.79)			(0.01)			(0.80)			(2.12)			(0.04)			(2.16)
Total comprehensive loss			(12,612)			(83)			(12,695)			(33,656)			(593)			(34,249)
OTHER NON-GAAP INFORMATION:
Adjusted EBITDA			3,960			(83)			3,877			43,900			(189)			43,711

CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (unaudited)
			Forty Weeks Ended October 2, 2022
(in thousands)			Retained Earnings/(Accumulated Deficit)			Total Shareholders' Equity
As Previously Reported
Balance, July 10, 2022			6,159			61,575
Net loss			(12,567)			(12,567)
Balance, October 2, 2022			(6,408)			51,627
Adjustments
Balance, July 10, 2022			(3,013)			(3,013)
Net loss			(83)			(83)
Balance, October 2, 2022			(3,096)			(3,096)
As Corrected
Balance, July 10, 2022			3,146			58,562
Net loss			(12,650)			(12,650)
Balance, October 2, 2022			$	(9,504)		$	48,531

CORRECTED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
			Forty Weeks Ended October 2, 2022
(in thousands)			As Previously Reported			Adjustment			As Corrected
Net loss			$	(33,605)		$	(593)		$	(34,198)
Gift card breakage			(8,289)			508			(7,781)
Unearned revenue			(8,386)			85			(8,301)

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- References

No definition available.

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

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