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RELATED PARTY TRANSACTIONS
9 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

(14)        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 18.6% 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 completed a rights offering during the nine months ended September 30, 2018, 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 nine months ended September 30, 2018, and October 1, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

(in thousands)

 

 

September 30, 2018

    

October 1, 2017

    

September 30, 2018

    

October 1, 2017

Revenues and NAF contributions - Anand Gala

 

 

$

368

 

$

399

 

$

1,162

 

$

1,309

Revenues and NAF contributions - Charles Davidson

 

 

 

77

 

 

 —

 

 

235

 

 

 —

The following table outlines accounts receivable from related parties as of September 30, 2018 and December 31, 2017:

 

 

 

 

 

 

 

(in thousands)

 

September 30, 2018

    

December 31, 2017

Accounts receivable, net - Anand Gala

 

$

257

 

$

301

Accounts receivable, net - Charles Davidson

 

 

38

 

 

32