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RELATED PARTY TRANSACTIONS
6 Months Ended
Jul. 01, 2018
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

(13)        Related Party Transactions

Anand D. Gala is a franchisee of the Company and currently serves as a director of the Company. Mr. Gala is the Founder, President and Chief Executive Officer of Gala Holdings International, a diversified holding company that conducts consulting, restaurant development and management operations.

Charles Davidson is a franchisee of the Company and is the beneficial owner of approximately 18.7% of the Company’s common stock as of the date that these financial statements were available to be issued, by virtue of his ownership interest in Wexford Capital. The Company recently completed a rights offering, in which Wexford Capital purchased 352,845 shares of the Company’s common stock.

The following table outlines amounts received from related parties during the three and six months ended July 1, 2018 and July 2, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

(in thousands)

 

 

July 1, 2018

    

July 2, 2017

    

July 1, 2018

    

July 2, 2017

Revenues and NAF contributions - Anand Gala

 

 

$

412

 

$

543

 

$

794

 

$

1,037

Revenues and NAF contributions - Charles Davidson

 

 

 

83

 

 

 —

 

 

158

 

 

 —

The following table outlines accounts receivable from related parties as of July 1, 2018 and December 31, 2017:

 

 

 

 

 

 

 

(in thousands)

 

July 1, 2018

    

December 31, 2017

Accounts receivable, net - Anand Gala

 

$

296

 

$

301

Accounts receivable, net - Charles Davidson

 

 

45

 

 

32