Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net loss $ (14,455,643) $ (6,646,833)
Net (income) loss from discontinued operations (53,350) 920,960
Net loss from continuing operations (14,508,993) (5,725,873)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization $ 2,364,967 1,587,858
Equity in losses of investments $ 40,694
Asset impairment charge - Australia $ 4,489,043
Loss on extinguishment of debt 315,923
Loss on disposal of property and equipment 514,571
Loss (gain) on sales of investments 169,639 $ (101,472)
Common stock issued for services 279,362 711,891
Amortization of debt discount 2,379,951 1,400,392
Amortization of warrants $ 22,375 89,500
Common stock and warrants issued for interest 161,814
Warrants issued in connection with convertible debt 70,969
Change in assets and liabilities:    
Accounts and other receivables $ (758,095) (49,553)
Prepaid and other assets 221,683 120,456
Inventory (130,607) 485,499
Accounts payable and accrued liabilities 1,166,376 (368,475)
Derivative liabilities (868,592) $ (200,800)
Deferred Rent (220,113)
Deferred income taxes 94,527 $ (653,828)
Net cash (used in) provided by operating activities from continuing operations (5,363,324) (1,003,745)
Net cash (used in) provided by operating activities from discontinued operations (4,500) (23,195)
Net cash (used in) provided by operating activities (5,367,824) (1,026,940)
Cash flows from investing activities:    
Purchase of property and equipment (1,798,221) (1,970,173)
Cash paid for acquisitions, net of cash acquired (9,022,711) (322,473)
Proceeds from sale of investments 330,361 121,222
Net cash used in investing activities from continuing operations (10,490,651) (2,171,424)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 14,921,903 1,206,746
Loan proceeds 663,074 2,072,951
Loan repayments (891,529) $ (202,456)
Proceeds from convertible debt 2,150,000
Capital lease payments (52,807) $ (47,602)
Contribution of non-controlling interest 348,109
Net cash provided by financing activities from continuing operations 17,138,750 $ 3,029,639
Effect of exchange rate changes on cash 1,783 (28,141)
Net increase (decrease) in cash 1,282,058 (196,866)
Cash, beginning of period 245,828 442,694
Cash, end of period 1,527,886 245,828
Supplemental cash flow information:    
Interest 1,068,383 320,260
Income taxes 79,228 $ 45,517
Non-cash investing and financing activities:    
Purchase of equipment using capital leases 50,087
Issuance of stock in connection with business combinations 4,062,317 $ 5,401,639
Debt assumed in connection with business combinations   5,000,000
Debt discount for fair value of warrants and conversion feature issued in connection with debt $ 1,781,588 1,026,800
Repurchase of shares and warrants in connection with discontinued operation $ 446,069
Convertible debt settled through issuance of common stock $ 2,275,000
Long-term debt settled through issuance of common stock 100,000
Purchases of businesses:    
Current assets excluding cash 1,148,334 $ 636,894
Property and equipment 5,387,283 7,945,152
Goodwill 4,579,666 11,394,009
Trade name/trademarks/franchise fees $ 4,300,000 559,304
Deposits and other assets 136,025
Liabilities assumed $ (2,330,175) (4,165,235)
Non-controlling interest (4,753,288)
Chanticleer equity (1,028,749)
Common stock issued $ (4,062,317) (5,401,639)
Assumption of debt (5,000,000)
Cash acquired $ 253,638 27,527
Cash paid for acquistions $ 9,276,429 $ 350,000