Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
ASSETS    
Cash $ 1,248,274 $ 165,129
Accounts receivable 161,073 108,714
Other receivable 85,473 42,109
Inventory 227,023 105,073
Due from related parties 137,763 76,591
Prepaid expenses 170,769 144,347
TOTAL CURRENT ASSETS 2,030,375 641,963
Property and equipment, net 2,316,146 1,505,059
Goodwill 396,487 396,487
Intangible assets, net 559,832 325,084
Investments at fair value 56,949 318,353
Other investments 2,116,915 1,582,148
Deposits and other assets 169,727 29,605
TOTAL ASSETS 7,646,431 4,798,699
LIABILITIES AND STOCKHOLDERS' EQUITY    
Current maturities of long-term debt and notes payable 236,110 1,171,855
Convertible notes payable 0 1,625,000
Accounts payable and accrued expenses 1,122,633 478,005
Other current liabilities 361,586 330,607
Current maturities of capital leases payable 27,965 41,590
Deferred rent 10,825 43,225
Due to related parties 13,733 30,204
TOTAL CURRENT LIABILITIES 1,772,852 3,720,486
Capital leases payable, less current maturities 60,518 85,853
Deferred rent 98,448 7,162
Other liabilities 186,060 263,321
Long-term debt, less current maturities 0 236,109
TOTAL LIABILITIES 2,117,878 4,312,931
Commitments and contingencies (Note 14)      
Stockholders' equity:    
Common stock: $0.0001 par value; authorized 200,000,000 and 200,000,000 shares; issued 3,698,896 shares and 1,506,061 shares; and outstanding 3,698,896 and 1,249,446 shares at December 31, 2012 and 2011, respectively 370 151
Additional paid in capital 14,898,423 6,459,656
Other comprehensive (loss) income (181,741) 50,650
Non-controlling interest 70,198 593,863
Accumulated deficit (9,258,697) (6,092,132)
Less treasury stock, 256,615 shares at December 31, 2011 0 (526,420)
Total stockholders' equity 5,528,553 485,768
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,646,431 $ 4,798,699