J. Alexander's Holdings, Inc. (JAX) - patio fire pit grill

☑Annual Report submitted under Section 13 or 15 (d) of the Securities Trading Act of 1934.☐Transition reports submitted under Section 13 or 15 (d) of the Securities Trading Act of 1934.☐☑☐☑☑☐☑☐☑☐☑☐☑☑☑☐☑The first part of the catalogue of March 13, the staff members whose commercial risk factors have not been resolved, commented on the property legal action, mine safety disclosure, the second part, the registrant's common stock market, related shareholder matters of stock securities and the purchase of selected financial data by issuers the company's discussion and analysis of the financial status and operational results of market risk financial statements and supplementary data changes and differences with accountants on accounting and financial disclosure controls and procedures Other Information Part III certain relationship and related transactions concerning directors, executives and corporate governance executive compensation guarantee ownership matters of certain beneficial owners and management and related shareholders, part IV schedule of exhibits and financial statements Form 10-Part I J.Alexander Holdings LimitedRegistered in Tennes state in August 15, 2014.After some internal restructuring transactions, J.Alexander Holdings LimitedBecome the ultimate parent company of J.Assets and operations of Alexander Holdings Limited.Fourth quarter of the fiscal year 2015, J.Alexander Holdings LimitedBecome an independent, openListed companies due to "spinDistribution ("spin-Off ") by FNF transfer all shares of the common stock of the company owned by FNF to all holders of the common stock of fnf fnfv Group, as known at the time of rotationoff.The food menu in Alexandria comes with a comprehensive wine list that provides both a familiar variety of wines and wines specifically marked for our restaurant.The Alexander restaurant on Nashvi lle West Side Avenue is our first place to transfer to the Red Land grill.The building features contemporary city street views similar to San Francisco or New York restaurants.This is the only restaurant in our portfolio with this architectural design.As of ch 2019 in March, we have operated 12 Red Land grills in eight states..All of our restaurants are dedicated to preparing quality food from innovative menus.We are selective in selecting ingredients and menus, including the grade of beef and the freshness of the seafood and vegetables we offer.Basically, all protein and vegetable products are fresh and will not be frozen in transit or storage until supplied, and are mainly preservatives and additives --free.We offer made-to-Order items prepared from scratch, about 95% of our items including stock, sauces and dessertshouse daily.Our food menu comes with a comprehensive wine list that provides both a familiar variety of wines and wines specifically marked for our restaurant.Although each restaurant has its own unique menu, we strive to innovate with new ingredients and local "farms"to-Special offers and limited-time specials are available to give our guests a fresh and interesting experience.All of our new menu items are developed through a process designed to meet our high standards.An important part of the quality assurance system is the preparation of taste plates.100% of the menu in each restaurant is tastyThe manager conducts tests on a daily basis to ensure that each restaurant provides only the highest quality, properly prepared food that meets or exceeds our specifications.The key position in each restaurant is the quality control coordinator ("QC ").The position is always complete byTrained manager, check it before each dish of food is served to our guests.We believe that quality control inspections by management members are an important and critical factor in maintaining consistent, high-quality food quality..We believe that the prompt, courteous and efficient service provided by knowledgeable staff is an integral part of our restaurant.We implement strict guidelines on the professional appearance of the server and the timeliness of the service.To ensure that all employees work together to achieve the highest guest satisfaction, we adopt a low table-to-server ratio when combined with teams served by dedicated staff, we believe in providing excellent service to our guests..Our restaurant features a variety of architectural designs and architectural finishes to provide guests with beautiful and upscale decor with contemporary and timeless finishes.We are active in our maintenance and maintenance plans at all locations, to ensure that no restaurant looks "highly crowded" or outdated, and reduce the need to re-shape a position on a regular basis to re-shape it into an acceptable standard.Even with the implementation of significant operational improvements and relocations, the restaurant is the same.We believe that additional adjustments to the location of each of our restaurants will contribute to the growth of sales in the same store.Pursuing disciplined new restaurant growth in the target marketArchitectural design with artisan Alexander/grill-The style building features natural materials such as stone, wood and wind copper.Other buildings reflect the mix of international and artisan buildings, featuring elements such as steel, concrete, stone and glass, skillfully combined to form a contemporary style.Several of our restaurants also feature a terrace with an exposed fire pit.J.The location of Alexander's/Grill usually contains seats of approximately 6,900 to 9,000 square feet, with an average of approximately named guests.For J.We estimate that new buildings that do not include land usually require a total cash investment of between $5,000 and $6,000 (excluding pre-Open cost and any tenant incentive ).Seasonal many aspects of our restaurant's day-to-day operations, including the minimum age of customers and employees, operating hours, advertising, trade practices, wholesale profits, other relationships with alcohol manufacturers, wholesalers and distributors of alcoholic beverages, inventory control and handling, storage and distribution.In some states, we also have to comply with the "dram shop" regulations, which usually gives a person injured by a drunken person the right to receive damages from an institution that provides a wrong alcoholic drink to a drunken person.Most of the six states we operate have dram-Store regulations or recognition of damages related to the sale of alcoholic beverages to persons and/or minors who are obviously drunk.As part of our existing full liability insurance, we offer liability insurance for alcohol.Management, learning management and other key talent management functions.We believe that investment in these technologies will give management a greater understanding of the future.to-Daily operations, reduce compliance costs and risks, improve efficiency, and better manage the business with existing talent for a long timeterm basis.Competitors with similar menu and operating features;And competitors, marketing to the same population using different menus and formats.Executive officer Lonnie J.Stout II Mr.Stout has been a director, president and CEO of the company since its inception.Prior to this, he was a director/manager (if applicable), President and CEO of Jianghuai Automobile CorporationAlexander Holdings Limited and J.He has been in the position of Alexander limited since May 1986.Mr.Stout joined Jianghuai Automobile in 1979, and since then he has held various leadership positions, including executive vice president and chief financial officer of Jianghuai Automobile from October 1981 to May 1984, he also served as a member of the board of directors of Jianghuai Automobile from 1982 to October 2012, and served as chairman from July 1990 to October 2012.Sir, effective from May 1, 2019.The position of Stout will be changed to the executive chairman of the board.Mark A.Parkey Mr.Since its inception, Parkey has served as executive vice president, chief financial officer and treasurer of the company.He held the same position in J.Alexander Holdings Limited and J.Alexander limited liability company since May 2013.Before becoming chief financial officer,Parkey served as vice president of Jianghuai Automobile from May 1999 to October 2012, as chief financial officer of Jianghuai Automobile from May 1997 to October 2012, vice president and chief financial officer of J.Alexander Holdings Limited and J.Alexander Co., Ltd. was the chief financial officer of Jianghuai Automobile from October 2012 to August 2013 and from January 1993 to May 1997.Sir, effective from May 1, 2019.The position of Parkey will be changed to president and CEO.J.Mr. Michael Moore.Since its inception, Moore has served as executive vice president and chief operating officer of the company.He held the same position in J.Alexander Holdings Limited and J.Alexander limited liability company since May 2013.Before becoming chief operating officerFrom November 1997 to October 2012, Moore served as vice president of human resources and administration of Jianghuai Automobile, J.Alexander Holdings Limited and J.From October 2012 to July 2013, Alexander Limited.Mr.Moore also served as director of Human Resources and Administration for JAC from August 1996 to November 1997 and as director of J. operationsAlexander Restaurant LimitedFrom March 1993 to April 1996.Mr.Moore joined Jianghuai Automobile in 1991 as general manager of the first automobile company.Restaurants in AlexandriaJessica L.Hagler Ms.Hagler has served as vice president, chief financial officer and chief accounting officer of the company since October 2015 and as secretary of the company since February 2018.Since its establishment in August 2014, she has served as assistant vice president and chief financial officer of the company and has worked in J.Alexander Holdings Limited and its subsidiaries since May 2013.Prior to this, she served as director of financial reporting and compliance for JAC from March 2012 to May 2013 and as director of compliance from November 2010 to March 2012.Before joining the company, Ms.Hagler is a senior audit manager at KPMG.Madam, effective May 1, 2019The position of hargrad will be changed to Vice President, Chief Financial Officer, Treasurer and Secretary.Jason S.Parks Mr.Parks has been vice president and chief information officer of the company since February 2018.Before that, sir.Parks has been the director of information systems for the company since its inception in August 2014, where he worked in J.Alexander Holdings Limited and its subsidiaries from February 2013 to February 2018, and Jianghuai Automobile from July 1996 to February 2013.Mr.From January 1992 to July 1996, Parks also worked in the restaurant management department.Mr.Parks joined Jianghuai Automobile in May 1991, in the first J.The restaurant in Alexandria was later promoted to the first in-house manager.The impact of financial information on changes in general economic conditions and consumer preferences, and our ability to adjust;Our ability to open a new restaurant and make a profit from it, including our ability to find and ensure the right place for the restaurant location, to obtain favorable terms of rental, to attract guests to our restaurant, or to hire and retainOur ability to obtain financing on preferential terms or in any way;The pressure on our infrastructure from the implementation of our growth strategy;We have succeeded in bringing the existing J.Alexander's location in the Redlands Grill and other future concept stores;The significant competition we face for our guests, real estate and staff;The impact of economic recession, fluctuations in traffic patterns in retail areas or disruption in other markets, within our restaurant base, we have income or geographical concentration;We are able to increase the sales of existing restaurants and increase the profit margin of existing Stoney River restaurants;The impact of rising prices and/or reduced supply of goods, especially beef;The impact of negative publicity or damage to our reputation may be due to concerns about food safety and food poisoning diseases or other matters;Implications of proposed and future government regulation, as well as changes in health care, labor force (including minimum wage) and other laws;Our expectations for litigation or other legal proceedings;We are unable to cancel and/or renew the lease or provide credit to landlords and other retail center tenants;Restrictions imposed on operations and finance by our credit arrangements, debt levels and any future liabilities;Impact of loss of key executives and managementEmployee level;Our ability to enforce intellectual property rights;The impact of information technology system failure or destruction of our network security;The impact of any future damage we have had for a long timeThe assets of life, including trade names and goodwill.Impact of any future acquisition, joint venture or other plan;The impact of shortages, disruptions and price fluctuations on our ability to obtain raw materials from a limited number of suppliers;Our seasonal expectations for our business;Effects of severe weather conditions, including hurricanes and other weather-Related interference;"Risk Factors", "Management's Discussion and Analysis of the financial position and results of operations" and other matters described under "business."These factors should not be interpreted as exhaustive and should be read in conjunction with other warning statements in this annual report.Although we believe our assumptions are reasonable, we warn that it is difficult to predict the effects of known factors and that we cannot predict all factors that may affect our actual results.Important factors that may lead to significant differences between actual results and our expectations or warning statements are disclosed under "risk factors, "Management's Discussion and Analysis of the financial position and results of operations", "business" and other parts of this annual report.All forward-These prudent statements clearly define the full content of the search statement.You should evaluate it forward.This year's report provides a vision in the context of these risks and uncertainties.Forward-Under the Safe Harbor established by the Private Securities Litigation Reform Act of 1995, the information provided by the company should be assessed in the context of these factors.We expressly deny any intention or obligation to update these forwardingLu Jing spoke.Traffic in our restaurant.Demand at any of our restaurants could unexpectedly slow due to industry competition, which could adversely affect our business and operational results.Search for quality site location, effectively compete to obtain quality site location and reach an acceptable agreement to lease or purchase the site;Comply with applicable zoning, land use and environmental regulations and obtain the required permits and approvals in a timely manner at an acceptable cost, including construction permits, required business licenses and liquor licenses;Have sufficient capital for construction and opening costs and effectively manage the time and resources devoted to building and opening each new restaurant;Participate and rely on third partiesResponsible for party a architects, contractors and their subcontractors who build the restaurant in accordance with our specifications within budget and expected time;Recruit and train and retain skilled managers and other necessary staff in a timely manner to meet the personnel needs of our outstanding professional service expectations in each local market;Successfully promote our new position and compete in its market;Get food, alcohol and other supplies from local suppliers for new restaurants at reasonable prices;Solve unexpected problems or risks that may arise during the development or opening of a new restaurant or entering a new market.location.In this case, if we determine that the market is still desirable, we may choose to relocate our existing restaurants or restaurants within the same market, this may result in an increase in costs associated with the purchase or lease of a new property.Resources, longer operating hours, greater visibility, and established in the market where our restaurants are located or in which we may expand.In addition in recent years many high-grade and highThe terminal restaurant has been extended to the small and medium market where some of our restaurants are located.We are unable to compete successfully with other restaurants, which may compromise our ability to maintain an acceptable level of revenue growth, limit or otherwise curb our ability to grow one or more concepts, or force us to close one or more restaurants.In addition, our dependence on frequent delivery of fresh seafood puts us at risk of supply shortages or disruptions due to bad weather, environmental factors or other conditions that may adversely affect the availability and cost of such it EMS.In the past, some types of seafood experienced fluctuations in their supply.In addition, since certain types of seafood are subject to a certain degree of contamination at the source or supply shortage, these seafood products may adversely affect supply and market demand.We cannot guarantee that future seafood contamination or insufficient seafood supply may not have a significant and significant adverse impact on our operational results.Our business is also restricted by the United States.S.Occupational Safety and Health Law governing the health and safety of workersS.The Fair Labor Standards Act governs matters such as minimum wage and overtime, as well as similar federal, state and local laws governing these and other employment legal matters.We may also get lawsuits from American employees.S.The Equal Employment Opportunities Commission or others claim to be in violation of federal and state laws on workplace and employment issues, discrimination and similar matte rs, and we used to be a party to those issues.Compliance with these laws can be costly, and failure to comply or comply with them can lead to negative publicity and damage to our reputation.In addition, federal, state and local proposals related to paid sick leave or similar matters, if implemented, may have a significant adverse impact on our business, financial position and operational results.Regardless of whether the owner or operator of the property knows or is responsible for the release or presence of harmful toxic substances.Third parties may also make claims against property owners or operators for personal injury and property losses related to the release or actual or alleged exposure to such dangerous or toxic substances, dine at our restaurant.Environmental conditions related to the release of hazardous substances at previous, existing or future restaurant premises may have a significant adverse impact on our business, financial position and operational results.In addition, environmental law and its management, interpretation and implementation may change and may become more stringent in the future, each of which may have a significant adverse impact on our business, financial status and results of operations.Failure to recruit, train and retain effective leaders, or to lose or shorten people with critical competencies and skills, can jeopardize our ability to achieve our growth goals.We will be able to modify and cost control measures through the plan, additional operational efficiency or pass-Our guests or staff have increased their fees for this.About 3.1% of our restaurant's operating expenses are 201.Our substantive Operating lease obligations may have significant negative consequences, including: requiring a significant portion of our existing cash flow to be used for our lease obligations, thereby reducing cash available for other purposes;Limiting our flexibility to plan or respond to changes in the business or competitive industry;To make us more vulnerable to general adverse economic and industrial conditions;Limits our ability to access additional financing.a seven-Mortgage loans of $15,000 in September 3, 2013;a five-The development credit line of $20,000 in May 20, 2015 ("development credit line ");a five-Regular loans of $10,000 in May 20, 2015;and a three-The $1,000 revolving credit line ("revolving credit line") in September 3, 2016 ").Our ability to obtain additional financing for working capital, capital expenditures, acquisitions or general corporate purposes may be compromised;We need to use a large part of the operating cash flow to pay interest on the debt, which will reduce the amount of money we use for operations and other purposes;Our debt levels may put us at a competitive disadvantage, compared to the fact that our competitors are likely to have relatively little debt;Our flexibility in planning or responding to changes in our business and operations industries may be limited;Our debt levels may make us more vulnerable to the economic downturn and the adverse impact of business development.The transaction is more difficult and adds additional financial or other covenants to us.In addition, any serious debt level in the future can make us more vulnerable to the recession and the adverse impact of business development.Our current debt as well as our inability to pay it back at maturity or our inability to take on additional debt may adversely affect our business and operational results.Pay dividends or other restricted payments to our shareholders;Generate additional liabilities;Use of assets as security in other transactions;Sale of assets or merger with other companies;Sell the equity or other ownership interest of our subsidiary.Trademarks and service logos are valuable assets that are essential to our success.Unauthorized use or other means of embezzling the name of our goods, trademarks or service signs may reduce the value of our restaurant concept and may lead to a decline in our income, forcing us to bear the costs associated with the execution of our rights.In addition, the use of trademarks, trademarks or service marks similar to ours in some markets may prevent us from entering these markets.While we may take protective actions to protect our intellectual property rights, these actions may not be sufficient to prevent and we may not be aware of all events, unauthorized use or imitation by others.Any such unauthorized use or imitation of our intellectual property rights, including costs associated with the execution of our rights, may adversely affect our business and operational results.Inaccurate assessment of the value, growth potential, weaknesses, liabilities, or other circumstances of a potential acquisition or joint venture and expected profitability;Failure to achieve expected business synergy or economies of scale;Potential losses to any key personnel who acquire the business;Challenges in successfully integrating, operating and managing acquired businesses and employees and instilling our company's culture into new management and employees;Difficulties in the coordination of enterprise management systems, policies and procedures;Unforeseen changes affecting the market and economic conditions of the acquired Enterprise or joint venture;If the acquisition business does not meet the performance expectations on which the acquisition price is based, an impairment fee may be charged;Shift the attention and focus of management from existing operations to the integration of acquired or merged businesses and their personnel.Hurricane and other weatherThe related interference may have a negative impact on our net sales and operational results..Before terminating the agreement.As a result of these payments, otherwise, the cash flow that we can use for other company purposes will be reduced, this may result in companies not having enough cash to meet operational needs without borrowing additional funds.The management consulting agreement has been terminated and no payments will be made on this.Opening hours and related expenses of the new restaurant;Opening of our new restaurantRestaurants that open tend to be larger in the first few quarters than in the latter;Labor supply and costs for hours and managers;The profitability of our restaurant, especially in the new market;Changes in interest rates;Increase or decrease in same store sales;Long-term damageAny loss caused by the closure of living assets and restaurants;Macroeconomic conditions at the national and local levels;Negative publicity related to the consumption of beef, poultry, seafood or other products we serve;Changes in consumer preferences and competitive conditions;Expand new markets;Increased infrastructure costs;Fluctuations in commodity prices.The market price of our common stock may fluctuate and shareholders may not be able to sell the stock at an acceptable price.Our business performance and the overall performance of our competitors or restaurant companies and the fluctuations in our business performance;Public reaction to our press releases, other announcements, and our submission to the SEC;Track changes in revenue estimates or suggestions from research analysts in US or other companies in our industry;Global, national or local economic, legal and regulatory factors unrelated to our performance;We or our competitors announce new locations or menu items, capacity changes, strategic investments or acquisitions;The operating results of us or our competitors and the actual or expected changes in the growth rate of our or our competitors;We or our competitors fail to meet the expectations or guidance that we or our competitors may give to analysts in the market;Changes in laws or regulations applicable to our business, or new interpretation or application of laws and regulations;Changes in accounting standards, policies, guidance, interpretation or principles;Arrival or departure of key personnel;Number of shares traded publicly;Future sales or distribution of our common stock, including sales or distribution of us, our executives or directors, and our important shareholders;And other developments that affect us, our industry, or our competitors.Our bylaws, bylaws, and provisions of Tennessee law may block or block strategic transactions, including the acquisition of our company, even if such transactions are beneficial to our shareholders.Divide our board into three levels, three staggered-Annual terms, which may delay or prevent changes to our management or changes to control;Authorize the issuance of "blank check" preferred shares that can be issued after approval by our board of directors to increase the number of shares in stock outstanding and make the acquisition more difficult and expensive;Cumulative voting is not allowed in the election of directors, otherwise it will make it easier for smaller minority shareholders to elect candidates for directors;Shareholders are not allowed to take action without unanimous consent;Provides that special meetings of shareholders may only be convened by the board of directors, the chairman of the board of directors or the chief executive officer or as directed by the board, the chairman of the board of directors or the chief executive officer;Require shareholders to give advance notice of any shareholder proposal or director nomination;Need a superShareholders shall amend certain provisions of this articles of association by majority vote;Let our board make changes or repeal our bylaws, but only allow shareholders to modify or repeal our bylaws after approving the voting rights of all tradable shares in our share capital of 66 2/3 or more.Explain the appropriate accounting principles.Changes in these principles or explanations may have a significant impact on the financial results of our reports and may affect the reports of transactions completed before the change is announced.Any such changes may have a significant impact on the financial results we report.Our internal controls on financial reporting are weak.This may have a significant adverse effect on us and lead to a decline in the price of our common stock.Item2.Part Two, item eight.Financial statements and supplementary data-notes to consolidated financial statements, note 10-debt in this year's report for further information.Part 2 holders of our common stock Item 7.Management's Discussion and Analysis of the financial situation and operational results of the pursuit of new restaurant development;Beyond our existing restaurant concept;Increase sales in our same store by providing quality food and services;Increase our profits and leverage our infrastructure.We include a restaurant in the same store restaurant group starting from the first full accounting period after 18 months of operation.In December 30, 2018, our same restaurant consists of 44 restaurants.Changes in sales at the same store restaurant reflect changes in sales at the same store Group restaurant for a specific period of time.This measure highlights the performance of existing restaurants as it does not include the impact of the opening of new restaurants.Consumer recognition of our concepts and our ability to respond to changing consumer preferences;Overall economic trends, particularly those related to consumer spending;We are able to operate the restaurant effectively and efficiently to meet the expectations of our guests;pricing;guest traffic;Expenditure and average check amount per guest;Local competition;Dynamic trade area;Introduction of new dishes.The average weekly sales for each restaurant is calculated by dividing the total sales of the restaurant for that period by the total number of days that all restaurants are open for that period to obtain the daily average sales.Then multiply the average daily sales by 7 to arrive at the average weekly sales for each restaurant.In addition to the scheduled closure of Thanksgiving and Christmas, the days when restaurants are closed on business are excluded from this calculation.Income associated with a reduction in unredeemed gift card liabilities, commonly referred to as gift card breakage, is not included in the average weekly sales calculation for each restaurant.The average weekly same-store sales for each restaurant are calculated by dividing the total same-store sales for the period by the total number of days that all same-store restaurants opened during the period to obtain the daily sales average.Then, multiply the average daily same-store sales by 7 to get the average weekly same-store sales for each restaurant.In addition to the scheduled closure of Thanksgiving and Christmas, the days when restaurants are closed on business are excluded from this calculation.The sales and sales days used in this calculation only include restaurants with business hours exceeding 18 months.Income associated with the reduction in outstanding gift card liabilities, commonly referred to as gift card breakage, is not included in the calculation of the average weekly same-store sales in each restaurant.The average check is calculated by dividing the total sales of the restaurant by the number of guests within a given time.Total sales in the restaurant include food, alcohol and beverage sales.Menu prices and menu combinations affect the average check.Management uses this indicator to analyze trends in guest preferences, effectiveness of menu changes, price increases, and spending per guest.The average unit sales include the average sales of our restaurants over a period of time.This measure is calculated by multiplying the average weekly sales by the number of relevant weeks for the period presented.This indicator helps management to measure changes in guest traffic, prices and our concept development.Sales cost is an important indicator of management, because it is the only truly variable component of the cost relative to the sales volume, the other components of the cost may have a large sales volume due to the ability to take advantage of the fixed cost.The number of guests is measured according to the number of main courses ordered by our restaurant within a given time.occur in 2020.Since many of our operating expenses have a fixed component, our operating revenue and operating revenue margins are different in every quarter of history.Therefore, the results of any one quarter do not necessarily indicate the results of any other quart er or the financial year as a whole.Net sales mainly include food and beverage sales in our restaurant, deducting any discounts related to each sale, such as managing meals and staff meals.Net sales are directly affected by the number of business weeks in the relevant period, the number of restaurants we operate and the growth of same store sales.Gift card breakage is also included in net sales.The cost of sales is mainly composed of food and beverage expenses, deducting the rebate earned from the supplier.Food and beverage expenses are generally affected by factors such as food and beverage project cost, distribution cost and menu matching.The components of the cost of sales are essentially variable, increasing as revenue increases, increasing or decreasing depending on the fluctuation of the cost of goods, including the price of beef, to a certain extent depends on the controls we have put in place to manage the sales costs of our restaurants.The staff and related expenses of the restaurant include the salary of the restaurant manager, the hourly salary and other wages-Related expenses, including management bonus, leave salary, payroll tax, additional benefits, worker compensation and health insurance costs.Depreciation and amortization mainly include Depreciation of fixed assets in restaurants, including improvement of equipment and leased assets, and amortization of certain intangible assets in restaurants.We depreciate the improved Depreciation of Capitalized leased assets to a shorter period of total expected lease term or estimated service life.As we continue to operate, depreciation and amortization are expected to increase due to our increased capital expenditure.Other operating expenses include maintenance, credit card fees, rent, property taxes, some insurance premiums, utilities, business supplies and other restaurants-Related operating expenses.Pre-The opening fee is the cost incurred before the opening, mainly including the manager's salary, relocation fee, recruitment fee, employee salary and related training expenses for new employees, including rehearsal of service activities, as well as rental fees incurred before opening.Our current goal isEach restaurant is open for about $700.General and administrative expenses include expenses related to certain companies and administrative functions that support development and restaurant operations and provide infrastructure that supports future company growth.These expenses reflect management, supervision and employee salary and employee benefits, travel expenses, information systems, training, corporate rent, depreciation of corporate assets, professional and consulting fees, technical and market research.These expenses have increased due to costs associated with listed companies and we are confident that they will continue to be relevant to the growth we expect.However, as we are able to take advantage of these investments made in our people and systems, we expect these expenses to decrease as a percentage of net sales over time.The interest expense mainly includes the interest on our outstanding debt.Our debt issuance costs are recorded by cost and amortized over the duration of the debt in question based on the effective interest method.This mainly refers to expenses or benefits related to the taxable income assigned to the company by J.Alexander Holdings Limited, federal, state and local levels.As a partner, J.Alexander Holdings Limited is generally not taxed on its income, and each member must report in that member's income tax return the Distributable share of that member's income from the partnership.In 2013, we closed two locations and we determined that these closures met the classification criteria for discontinued operations.See Item 8.Financial statements and supplementary information-Notes to Consolidated Financial Statements-Note 2 (c) summary of important accounting policies-Stop operating and cost of restaurant closure for more information.The results of the operation are not added due to rounding.Compared with 2017, it was 2018.This price increase estimate reflects the nominal amount of the menu price change, regardless of any changes in the product mix due to the price change, or may not reflect the amount actually paid by the guest.Management estimates that the average number of guests per week has decreased by about 1.3% and 2.Compared with 2018, 5% in 2017 on the same restaurant store base and integrated basis, respectively.It should be noted that our restaurant was forced to close for 27 days due to bad winter weather in 2018 (16 of which were from the US Air Force Base)Net sales at Alexander/grill are estimated to have lost about $275 and revenue for all restaurants is estimated to have lost about $400.Winter weather in the first quarter of 2017 affected sales to a lesser extent, forcing restaurants to close for three days, resulting in a loss of revenue of about $40.The number of guests in 2018 was also affected by the bad winter weather in the first quarter of this year, and the number of guests in the same store was reduced by partThe Grill restaurant in Alexandria is considered to be affected by the bad weather in the winter.The Grill restaurant in Alexandria is still open to business, but traffic and income are adversely affected.Management estimates that net sales lost another $600 as J. was thin.Alexander/BBQ due to the bad winter weather, decided to open at least part of the day during the period 2018.Impact of rising labor costs on the percentage of net sales of new J.The restaurant in Alexandria opened in 2018, and another new restaurant in Stoney River opened in 2018.The labor cost of our new restaurant is usually higher in the first few months of operation, while the new restaurant staff will gain experience and improve efficiency before and afterof-Housing operations.In addition, in the second half of 2017 and 2018, the two Stoney River restaurants were converted into lunch and dinner formats, while in the full year or part of the fiscal year of 2017 they were only operated as dinner formats, resulting in a higher labor cost of 2018.Mainly due to the influence of a new J.The restaurant in Alexandria opened in 2018, a new Stoney River restaurant opened in 2018, and a new J.Alexander's restaurant and a new Stoney River restaurant opened in 2017, and each restaurant had an impact on the company in 2018.In addition, we recorded the additional depreciation expenses incurred in the second half of 2017 and in 2018 in connection with the restaurant renovation.Although the Company recorded an increase in costs related to cash rent, contract services and maintenance, credit card fees and paper supplies, however, these increases are lower in terms of cash rent, contract services and maintenance, credit card fees and paper costs associated with free guest meals, utilities and other miscellaneous expenses.In addition, in 2018, due to the full amortization of certain advantageous operating lease assets during the financial year, we recorded a decrease in non-cash rental expenses.Fiscal year growth associated with non-fiscal year is more significantcash share-The underlying compensation costs associated with the Black Knight profit interest grant totalled $2,644 in 2018, compared to $942 in 2017.In addition, increases in general and administrative costs are recorded in salary, audit and accounting fees, temporary services, non-cash rent, real estate site fees, public relations and other less significant expense categories.These increases are partially offset by expense reductions related to deferred compensation, non-cash share-Compensation expenses, Black Knight Management fees, employee education, incentive compensation, legal fees and other less important expense categories related to the 2015 management profit interest subsidy fully attributable in January 1, 2018.In addition, on 2017, we recorded the cost of closing a restaurant related to closing J. $125Alexander's restaurant in Houston, Texas, did not reflect the cost associated with the restaurant in 2018.Net income tax cash flows from operating activities increased from $21,680 in 2018 to $21,260 in 2017, an increase of $420.Our business generates receipts from guests in the form of cash and cash equivalents, receivables related to credit card payments are considered cash equivalents due to relatively short settlement periods, and most of our expenses are at 30-day pay period.In the fiscal year 2018, net sales increased by $8,942, excluding the effect of a relative increase of $67 in gift card breakage compared to 2017, compared to the fiscal year 2017, total operating expenses for restaurants also increased by $8,549, resulting in a net increase of approximately $393 in operating cash flow.Other factors contributing to the increase in business cash flow in 2018 include reduced transaction costs, income tax and legal fee payments, and insurance rebates received in 2018.Compared to 2018, the company's legal fees in 2017 were reduced by about $321.In addition, the income tax paid by the company in 2018 was reduced by about $146 compared to 2017.Compared with 2018, transaction fees in 2017 were reduced by approximately $122.Finally, in 2018, the company received a rebate of $190 from The Ohio workers' compensation agency, but did not receive it in 2017.On the contrary, under the terms of the 2017 lease agreement, the company received a lessee improvement allowance from the lessor at Stoney River, Chapel Hill, North Carolina, totaling $799.No such payments were received on 2018.Net cash for investment activities in 2018 was $18,608, compared to $13,568 in 2017, an increase of $5,040, and 2018 of cash use was primarily attributable to capital expenditures related to the construction of new J.The restaurant in Alexandria opened in 2018 at the King of Prussia in Pennsylvania, as well as the Stone River restaurant we opened in Troy, fourth quarter of 2018, Michigan and J.Alexander Grill and Tony River.Cash used for investment activities in 2017 is mainly capital expenditures related to the completion of two new J.Alexander's restaurant opened in the second half of 2016 in Raleigh and Lexington, North Carolina, in Kentucky in first quarter of 2017, Stoney River restaurant opened in Chapel Hill, North Carolina in 2017, and J.Alexander restaurant/grill.Net cash for financing activities in 2018 amounted to $5,000, compared to $3,613 in 2017, an increase of $1,387, which relates to additional debt service payments for the period from 2018, as the company began to repay regular loans, the following will be discussed in more detail in the second half of the fiscal year 2017.This payment affects the financing cash flow for the full year of 2018.In addition to the new store development, we also plan to transform our four J.Alexander restaurant and one of our red land BBQ restaurants in 2019.In addition, the renovation project will be carried out in 2019 at our Stoney River restaurant.We have completed the transformation of two J.In 2018, the average capital cost of the Alexander restaurant, the Redlands Grill and The Overland Park Grill was about $460.In addition, we completed the renovation of three Stoney River restaurants in 2018, with an average capital cost of about $250.We expect to complete 3 to 8 re-modelling times a year, with an average cost of about $425 per location.Chief executive of Cannae and non-Executive chairman of FNF board of directors.Other members of Black Kni right are made up of Lonnie J.Stout II, one of our president, chief executive and directors, and other officials from Cannae and FNF.The term of the credit line is from September 3, 2016 to September 3, 2019, and there is no additional significant change in the terms of the agreement.Outstanding debts under these facilities are secured by certain personal property liens of J.Alexander Holdings, ll c and its subsidiaries, subsidiaries guarantee and mortgage lien on certain real estate.On this day we have a total of $17,000 to borrow under these lines of credit.2019—$9,000;2020—$5,972;2021 and after-$0.Or the assumptions used in an obligatory fair value estimate are generally consistent with the past performance of each reporting unit and other intangible assets, and are also consistent with the forecasts and assumptions used in the current operating planThese assumptions may change due to changes in economic and competitive conditions.Income Tax Item 8.Consolidated balance sheet financial statements and supplementary data reports of independent certified public accountants-Consolidated Statement of Income and consolidated income for December 30, 2018 and December 31, 2017-Consolidated Statement of shareholders' equity for the year ended December 30, 2018, December 31, 2017 and January 1, 2017-Consolidated Statement of annual cash flows as at December 30, 2018, December 31, 2017 and January 1, 2017-Notes to Consolidated Financial Statements for the year ended December 30, 2018, December 31, 2017 and January 1, 2017Alexan der Holdings LimitedSubsidiary J.Alexander Holdings LimitedSubsidiary J.Alexander Holdings LimitedSubsidiary J.Alexander Holdings LimitedSubsidiary J.Alexander Holdings LimitedAnd subsidiaries on October 29, 2015, the company's board of directors ("Board of Directors") authorized a share repurchase plan of up to 1,500,000 shares of the company's outstanding common shares within the three years ended October 29, 2018.As of October 29, 2018, under the plan, 305,059 shares were repurchased and withdrawn at a total purchase price of $3,203.Subsequently, on November 1, 2018, the board of directors authorized a new share repurchase program to allow shares to be repurchased up to $15,000 in total over three months.Annual period as at November 1, 2021.Under the plan of the new authorization, the stock repurchase is expected to be carried out only from the cash on hand and the available operating cash flow.The repurchase will be carried out in accordance with the applicable securities law and may be carried out from time to time in the open market.The timing, price and amount of the repurchase will depend on the current market price, general economic and market conditions and other considerations.The repurchase plan does not require the company to acquire any particular number of shares.In the fourth quarter of 2018, there was no common stock repurchase activity under the newly authorized plan.as one new J.Alexander's restaurant opened in 2018 at the King of Prussia in Pennsylvania, and in 2018 opened a new Stoney River Restaurant in Troy, Michigan.The company's restaurants are mainly located in the eastern, southeast and central and western regions of the United States.The company does not have any restaurant operations under the franchise agreement.-A) transactions between entities under co-control B) c) In addition, the company closed A J.The location of Alexandria was in 2017 as the lease for the restaurant had expired.Since the closure of this restaurant does not represent a strategic shift that has a significant impact on the company's operational and financial results, its business results and costs associated with the closure are not included in the discontinued business.The position before the continuing Operating income tax for loss of income) is $ month, $30 and $ (179) fiscal year, 2018, 2017 and 2016 respectively.D) e) f) g) Property and equipment, net h) I) Property, plant and equipment j) operating the lease when reasonable assurance is to be exercised for such period of time, because if this is not done, it will result in a significant economic penalty incurred by the leased restaurant location during the construction period, the rental fee will be included in the pre-opening fee.Or rent charges are calculated based on the level of sales and are usually accumulated when it is considered possible to pay.The tenant improvement allowance obtained from the landlord under the operating lease is recorded as the deferred rent obligation.K) broken gift cards of $378, $311 and $347, recorded in 2018 of the fiscal year at 2017 and 2016, respectively.L) m) advertising fees n) o) p) agents related to franchise refunds and income taxes.Due to the nature of the entity in question, the company does not consider it to have significant risks with accounts receivable.Q) r) s) t) u) v) w) x) S. hare repurchase program y) is allowed to be adopted in advance starting after December 15, 2019.The company does not believe that the adoption of this guide will have an impact on its consolidated financial statements and related disclosures.Z) recently, at the beginning of the fiscal year 2018, the guide had no significant impact on the consolidated financial statements and related disclosures of the company.Level 1 Level 2 level 3 the following table shows the financial assets and liabilities we measured at fair value as of the date indicated: note 5-prepaid period expenditure and other current assets A. The $1,000 revolving line of credit ("revolving line of credit") originally entered into on 2013, but was amended on 2016 to extend the period to September 3, 2019, can be used for general company purposes.The outstanding balance for December 30, 2018 and December 31, 2017 was $0.A $15,000 fixed-term loan ("mortgage loan") was signed in 2013 for a period of 7 years until September 3, 2020.The $20,000 development credit line ("development credit line") was originally signed in 2014 at $15,000, but was revised to the current amount in 2015 for a five-year term, it ended on May 3, 2020.A $10,000 fixed-term loan ("fixed-term loan") was signed in 2015 for a period of five years, as of May 3, 2020.The loan agreement also includes certain financial covenants.Fixed fee coverage of at least 1.According to the four quarters, as of the end of any fisca l quarter, 25-1 must remain closed.The fixed fee coverage rate set out in the loan agreement is (a) the sum of net income for the applicable period (excluding the impact of any additional or non-recurring gains and losses on the period, including any asset impairment costs, restaurant closing fees (including rental buyout fees), deferred tax assets, non-cash deferred income tax benefits and fees, and valuation allowances for u p changed to $1,000 (5-The annual period of the amount of development credit for uninsured losses) plus depreciation and amortization plus interest charges plus rent payments plus non-cash compensation costs plus any other non-cash charges or charg es, and fees related to public offering/rotationThe company's non-process minus the larger of the total amount of actual store maintenance capital expenditure (excluding major remodeling or image enhancement) or the total number of stores in ope ration for at least 18 months multiplied by $40, to (B) the cost of interest during this period plus the rent paid during this period plus the long-term debt and capital lease obligations paid during this period, all of this is jointly determined by Accor Group and recognized accounting principles.Note 12-income the following table summarizes future minimum lea se payments under operating leases (including renewal options), including restaurants reported as discontinued operations, with an initial period of one year or more :: reduction in the United StatesS.Since December 31, 2017, the corporate income tax rate has increased from 35% to 21%, and some assets put into use after September 27, 2017 have accelerated depreciation.Certain deductible for business catering entertainment and other additional benefits.As of December 30, 2018 and December 31, 2017, important components of the Company's deferred income tax assets and liabilities are as follows: the re-Association of the start and end of the unconfirmed tax benefits associated with these positions (excluding federal benefits and accrued interest above) is as follows :.According to the plan, the company did not win the prize for the fiscal year 2017.A total of 35,000 options have been canceled since the start of the program, none of which occurred in the fiscal year 2018.The stock options under the Company's equity incentive plan are summarized as follows: The following table summarizes the stock option information that the company has not issued as of December 30, 2018: the underlying securities do not pay dividends.The protective bearish approach was used to estimate the inherent lack of marketable discounts due to lack of liquidity associated with the post-awardAttribution requirements and other restrictions for Class B units.The company uses black-Scholes-Merton pricing model to estimate the fair value of the Black Knight profit Interest Award.Since the full ownership of Class B units in October 6, 2018, the company has received the final valuation of the grant as of that date, which includes the following assumptions: December 30, 2018 and December 31, 2017, respectively.The costs (revenues) identified under these agreements were $206, $336 and $175 for the fiscal year 2018, respectively, at 2017 and 2016, respectively.Holders of ordinary shares have the right to receive one vote per share on all matters voted by shareholders.Subject to a preference that may apply to any outstanding preferred stock, the holders of common stock are entitled to a corresponding dividend, if any, and the board may, from time to time, declare from legally available funds.In the event of any voluntary or involuntary liquidation, dissolution or liquidation, the holders of ordinary shares shall have the right to share in proportion all assets remaining after repayment of the debt and other liabilities, in accordance with the prior distribution rights of preferred shares, if any, it is unreleased.The holders of ordinary shares do not have a preemptive right, conversion right or other subscription right.There are no redemption or debt service fund terms applicable to common stock.The rights, preferences and privileges of the holders of common stock will depend on the rights, preferences and privileges of any preferred stock holders that the company may issue in the future.(A) (B) (c) awarded J.1, 500,024 B-Class units, as described in Note 15 aboveAlexander Holdings Limited was made to the Black Knight on October 6, 2015 in accordance with the terms of the management consulting agreement ("Black Knight Grant.The barrier rate for black Knight grant is about $151,052, which is calculated based on the number of issues and outstanding issues of the Company's common stock and $10.07, representing the volume weighted average of the closing price of the Company's common shares on the five trading days after the issuance date on September 28, 2015.Class B units awarded Black Knight vests are paid in installments on the first, second and third anniversary of the grant day.Each report by Black Knight Grant ha s prior to the date of attribution d ate is measured at fair value and is recognized as part of the continuing income in the consolidated financial statements of the company.As of the final date of attribution, October 6, 2018, the company was awarded the final valuation of the Black Knight Grant with a final value of $6,287.Under the terms of the termination agreement, from November 30, 2018, the Black Knight has 90 days to exchange its Class B units in order to exercise the right to convert the value of the above units into the common shares of the company.As noted in note 21, due to the Black Knight at 90-During the day, Class B units were canceled, confiscated and not considered.Note 22-Business Quarterly Results (Unaudited) item 9.Changes in accounting and financial disclosure and disagreements with accountants (a) assessment of disclosure controls and procedures (B) management reports on internal controls in financial reporting (c) internal control changes Part III The final proxy statement we will submit to SEC within 120 days of the end of the fiscal year ending December 30, 2018..Part IV (a) (1) (2) (3) 2.1 separation and distribution agreement between Fidelity National Financial Corporation and Fidelity National Financial Corporationand J.Alexander Holdings LimitedSeptember 16, 2015 (Annex 10 ).Current Report on Table 8 1-K submitted on September 17, 2015 (document number1-37473), incorporated into this article by reference ).2.2 Merger Agreement and Plan dated August 3, 2017Alexander Holdings Limited, J.Yalishan da Holding Co., Ltd., a subsidiary of Nitro mergerFuda Newport Holdings Co., Ltd. and 99 Catering Co., Ltd. (terminated from February 1, 2018) (Annex 2 ).Current Report on Table 8 1-K submitted on August 7, 2017 (document number1-37473), incorporated into this article by reference ).2.3 Amendment No.1 to the Agreement and Plan of the merger, by J.Alexander Holdings Limited, J.Yalishan da Holding Co., Ltd., a subsidiary of Nitro merger, Kani Holding Co., Ltd., formerly known as Fidelity National Financial enterprise, limited liability company, Fidelity Newport Group Co., Ltd. and 99 Hotels Co., Ltd., as of January 30, 2018 (ending from February 1, 2018) (month exhibition.Current Report on Table 8 1-K submitted on January 30, 2018 (document number1-37473), incorporated into this article by reference ).3.1. the J. charter was amended and reiteratedAlexander Holdings LimitedDate: September 14, 2015 (Annex 3 ).Current Report on Table 8 1-K submitted on September 17, 2015 (document number1-37473), incorporated into this article by reference ).3.Amending and reaffirming Article 2 of the J. CharterAlexander Holdings LimitedDate: September 22, 2015 (Annex 3 ).2 of Form S-Document No. 8 submitted on November 3, 20151-37473), incorporated into this article by reference ).3.Revised and reiterated the constitution of J.Alexander Holdings LimitedDate: September 14, 2015 (Annex 3 ).Current Report on Table 8 2-K submitted on September 17, 2015 (document number1-37473), incorporated into this article by reference ).3.4 Second amendment and restatement of the LLC agreement by J.Alexander Holdings Limited (Annex 3), September 28, 2015 ).Quarterly Report on Form 10-Q file submitted on November 9, 20151-37473), incorporated into this article by reference ).10.1 Management consulting agreement between Black Knight Consulting Service Co., Ltd. and J.Alexander Holdings Limited (Annex 10), September 28, 2015 ).Quarterly Report on Form 10-Q file submitted on November 9, 20151-37473), incorporated into this article by reference ).10.2 termination of the agreement by J.Alexander Holdings Limited and Black Knight Consulting Services Limited (Annex 10), November 30, 2018 ).Current Report on Table 8 1-K submitted on November 30, 2018 (document number1-37473), incorporated into this article by reference ).10.3 Management of the corporate unit grant agreement, October 6, 2015 (Annex 10 ).Quarterly Report on Form 10 2-Q file submitted on November 9, 20151-37473), incorporated into this article by reference ).* 10.4 J. loan agreement revised and reiterated for the second time in May 20, 2015Alexander's, LLC and Pinnacle Bank (Exhibit 10 ).Statement of information on Form 10 submitted on June 25, 2015 6 (document number1-37473), incorporated into this article by reference ).10.5 Amendment Agreement before and between J September 3, 2016Alexander's, LLC and Pinnacle Bank (Exhibit 10 ).Quarterly Report on Form 10-Q file submitted on November 7, 20161-37473), incorporated into this article by reference ).10.6 amendment agreement before and between J. on January 2, 2019Bank of Alexandria and Pinnacle.10.7 J.2015 management incentive plan for Alexander Holdings Limited (Annex 10 ).Statement of information on Form 10 submitted on June 25, 2015 7 (document number1-37473), incorporated into this article by reference ).* 10.8 J.Alexander Holdings Limited2015 equity incentive plan (Annex 10.Registration Statement on Form S-1Document No. 8 submitted on November 3, 20151-37473), incorporated into this article by reference ).* 10.9 First Amendment of J.Alexander Holdings Limited2015 equity incentive plan (Annex 10.Annual Report on Form 10 9-K submitted on March 16, 2017 (document number1-37473), incorporated into this article by reference ).* 10.10 Form of Non-Qualified stock option award agreement under J.Alexander Holdings Limited2015 equity incentive plan (Annex 10.Registration Statement on Form S-2Document No. 8 submitted on November 3, 20151-37473), incorporated into this article by reference ).* 10.11 J. form of incentive stock option incentive agreement