Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net loss $ (7,166,235) $ (9,412,914)
Net loss from discontinued operations 5,066,880
Net loss from continuing operations (7,166,235) (4,346,034)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:    
Depreciation and amortization 2,282,801 2,341,697
Asset impairment charge 2,395,616
Loss on debt refinancing 95,310
Common stock and warrants issued for services 280,669 24,510
Common stock and warrants issued for interest 349,000
Amortization of debt discount 788,187 1,039,656
Change in assets and liabilities:    
Accounts and other receivables 35,154 (336,546)
Prepaid and other assets 22,157 113,633
Inventory 23,062 33,217
Accounts payable and accrued liabilities 1,039,179 1,540,463
Change in amounts payable to related parties (2,500) 194,350
Derivative liabilities (1,231,608)
Deferred income taxes (706,195) 131,783
Deferred rent 188,363 (288,279)
Net cash used in operating activities from continuing operations (724,432) (434,158)
Net cash used in operating activities from discontinued operations (75,000)
Net cash used in operating activities (724,432) (509,158)
Cash flows from investing activities:    
Purchase of property and equipment (1,625,460) (1,191,174)
Cash paid for acquisitions, net of cash acquired (72,215)
Proceeds from sale of property 461,158 8,902
Net cash used in investing activities from continuing operations (1,164,302) (1,254,487)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 939,712
Proceeds from sale of redeemable preferred stock, net of offering costs of $243,480 348,171 257,175
Loan proceeds, including $1,837,397 of warrants associated therewith 6,578,090 275,000
Payment of deferred financing costs (293,294)
Loan repayments (6,187,738) (513,523)
Capital lease payments (28,405) (40,636)
Contribution of non-controlling interest 725,000 823,671
Net cash provided by financing activities from continuing operations 2,081,536 801,687
Effect of exchange rate changes on cash (22,884) 6,118
Net increase (decrease) in cash and restricted cash 169,918 (955,840)
Cash and restricted cash, beginning of year 268,575 1,224,415
Cash and restricted cash, end of year 272,976 268,575
Supplemental cash flow information:    
Interest 839,816 581,072
Income taxes 27,631 51,100
Non-cash investing and financing activities:    
Convertible debt settled through issuance of common stock 625,000
Accrued interest settled through issuance of common stock 74,763
Preferred stock dividends paid through issuance of common stock 54,004
Common stock issued in connection with working capital adjustment 27,018
Purchases of businesses:    
Current assets excluding cash 1,611
Goodwill 70,604
Cash paid for acquisitions $ 72,215