Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash $ 442,694 $ 1,223,803
Accounts receivable 227,181 161,073
Other receivable 50,380 85,473
Inventories 381,408 227,023
Due from related parties 116,305 117,899
Prepaid expenses 494,241 170,769
Assets of discontinued operations 924 44,335
TOTAL CURRENT ASSETS 1,713,133 2,030,375
Property and equipment, net 5,620,189 2,316,146
Goodwill 6,496,756 396,487
Intangible assets, net 3,424,632 559,832
Investments at fair value 55,112 56,949
Other investments 2,491,963 2,116,915
Deposits and other assets 285,821 169,727
TOTAL ASSETS 20,087,606 7,646,431
Current liabilities:    
Current maturities of long-term debt and notes payable 700,168 236,110
Derivative liability 2,146,000 0
Accounts payable and accrued expenses 2,424,373 1,108,305
Other current liabilities 135,286 361,586
Current maturities of capital leases payable 59,162 27,965
Deferred rent 53,303 10,825
Due to related parties 12,191 13,733
Liabilities of discontinued operations 1,500 14,328
TOTAL CURRENT LIABILITIES 5,531,983 1,772,852
Convertible notes payable, net of discount of $2,583,333 416,667 0
Capital leases payable, less current maturities 105,918 60,518
Deferred rent 1,055,138 98,448
Deferred tax liabilities 1,340,000 0
Other liabilities 220,341 186,060
Long-term debt, less current maturities 178,565 0
TOTAL LIABILITIES 8,848,612 2,117,878
Commitments and contingencies (Note 15)      
Stockholders' equity:    
Common stock: $0.0001 par value; authorized 45,000,000 shares; issued and outstanding 5,387,897 and 3,698,896 shares at December 31, 2013 and 2012, respectively 541 370
Additional paid in capital 25,404,994 14,898,423
Other comprehensive (loss) income (88,370) (181,741)
Non-controlling interest 394,645 70,198
Accumulated deficit (14,472,816) (9,258,697)
TOTAL STOCKHOLDERS' EQUITY 11,238,994 5,528,553
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 20,087,606 $ 7,646,431