PRIVATE OFFERINGS	6 Months Ended
Apr. 02, 2022
Private Offerings
PRIVATE OFFERINGS	(5) PRIVATE OFFERINGS: CIC Investors #85, Ltd. (Flanigan’s, Sunrise, Florida) On October 15, 2021, we began a private offering for CIC Investors #85, Ltd., a Florida limited partnership of which the Company acts as general partner, to raise $5,000,000 through the sale of limited partnership units in the same. Limited partnership units were sold for $5,000 each, minimum purchase of two. which funds are intended to be used to satisfy (including reimbursement to us for advances we have made), build-out and renovation expenses and the purchase of such furniture, fixtures and equipment necessary for operation of our Sunrise, Florida restaurant under the service mark “Flanigan’s”. By February 15, 2022, we sold all limited partnership units, raising $5,000,000. The Company purchased 74 limited partnership units ($370,000) upon the same terms and conditions as all other investors. Capital raised from private investors is credited to sale of noncontrolling interests in our Statements of Stockholders’ Equity. On March 30, 2022, the Escrow Agent delivered $4,612,500 to the Company, representing the private offering proceeds ($5,000,000), less the Company’s purchase of 74 limited partnership units, ($370,000) and less organizational costs, ($17,500). This restaurant opened for business on March 22, 2022. Under ASC 810, Consolidation, the Company, which is the entity issuing financial statements, is required to consolidate CIC Investors #85, Ltd. as we have a controlling interest in CIC Investors #85, Ltd. as general partner, although the Company has a 7.40% ownership. CIC Investor #25, Ltd. (Flanigan’s, Miramar, Florida) On October 15, 2021, we began a private offering for CIC Investors #25, Ltd., a Florida limited partnership of which the Company acts as general partner, to raise $4,000,000 through the sale of limited partnership units in the same. Limited partnership units were sold for $5,000 each, minimum purchase of two, which funds are intended to be used to satisfy (including reimbursement to us for advances we have made), build-out and renovation expenses and the purchase of such furniture, fixtures and equipment necessary for operation of our Miramar, Florida restaurant under the service mark “Flanigan’s. By February 15, 2022, we sold all limited partnership units, raising $4,000,000. The Company did not purchase any limited partnership units. Capital raised from private investors is credited to sale of noncontrolling interests in our Statements of Stockholders’ Equity. On March 30, 2022, the Escrow Agent delivered $3,982,500 to the Company, representing the private offering proceeds ($4,000,000), less organizational costs, ($17,500). It is anticipated that this restaurant will open for business the beginning of October, 2022. Under ASC 810, Consolidation, the Company, which is the entity issuing financial statements, is required to consolidate CIC Investors #25, Ltd. as we have a controlling interest in CIC Investors #25, Ltd. as general partner, although the Company has no direct ownership.

PRIVATE OFFERINGS

6 Months Ended

Apr. 02, 2022

(5) PRIVATE OFFERINGS:

CIC Investors #85, Ltd. (Flanigan’s, Sunrise, Florida)

On October 15, 2021, we began a private offering for CIC Investors #85, Ltd., a Florida limited partnership of which the Company acts as general partner, to raise $5,000,000 through the sale of limited partnership units in the same. Limited partnership units were sold for $5,000 each, minimum purchase of two. which funds are intended to be used to satisfy (including reimbursement to us for advances we have made), build-out and renovation expenses and the purchase of such furniture, fixtures and equipment necessary for operation of our Sunrise, Florida restaurant under the service mark “Flanigan’s”. By February 15, 2022, we sold all limited partnership units, raising $5,000,000. The Company purchased 74 limited partnership units ($370,000) upon the same terms and conditions as all other investors. Capital raised from private investors is credited to sale of noncontrolling interests in our Statements of Stockholders’ Equity. On March 30, 2022, the Escrow Agent delivered $4,612,500 to the Company, representing the private offering proceeds ($5,000,000), less the Company’s purchase of 74 limited partnership units, ($370,000) and less organizational costs, ($17,500). This restaurant opened for business on March 22, 2022.

Under ASC 810, Consolidation, the Company, which is the entity issuing financial statements, is required to consolidate CIC Investors #85, Ltd. as we have a controlling interest in CIC Investors #85, Ltd. as general partner, although the Company has a 7.40% ownership.

CIC Investor #25, Ltd. (Flanigan’s, Miramar, Florida)

On October 15, 2021, we began a private offering for CIC Investors #25, Ltd., a Florida limited partnership of which the Company acts as general partner, to raise $4,000,000 through the sale of limited partnership units in the same. Limited partnership units were sold for $5,000 each, minimum purchase of two, which funds are intended to be used to satisfy (including reimbursement to us for advances we have made), build-out and renovation expenses and the purchase of such furniture, fixtures and equipment necessary for operation of our Miramar, Florida restaurant under the service mark “Flanigan’s. By February 15, 2022, we sold all limited partnership units, raising $4,000,000. The Company did not purchase any limited partnership units. Capital raised from private investors is credited to sale of noncontrolling interests in our Statements of Stockholders’ Equity. On March 30, 2022, the Escrow Agent delivered $3,982,500 to the Company, representing the private offering proceeds ($4,000,000), less organizational costs, ($17,500). It is anticipated that this restaurant will open for business the beginning of October, 2022.

Under ASC 810, Consolidation, the Company, which is the entity issuing financial statements, is required to consolidate CIC Investors #25, Ltd. as we have a controlling interest in CIC Investors #25, Ltd. as general partner, although the Company has no direct ownership.