Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash $ 476,100 $ 442,694
Accounts receivable 173,863 227,181
Other receivable 49,056 50,380
Inventories 432,698 381,408
Due from related parties 113,481 116,305
Prepaid expenses and other current assets 570,184 495,165
TOTAL CURRENT ASSETS 1,815,382 1,713,133
Property and equipment, net 8,522,609 5,620,189
Goodwill 9,168,405 6,496,756
Intangible assets, net 3,408,349 3,424,632
Investments at fair value 43,394 55,112
Other investments 2,551,269 2,491,963
Deposits and other assets 246,918 285,821
TOTAL ASSETS 25,756,326 20,087,606
Current liabilities:    
Current maturities of long-term debt and notes payable 1,474,735 835,454
Current maturities of convertible note payable, net of discount of $283,258 216,742 0
Derivative liability 2,006,600 2,146,000
Accounts payable and accrued expenses 2,704,386 2,425,873
Current maturities of capital leases payable 58,717 59,162
Deferred rent 109,699 53,303
Due to related parties 12,191 12,191
TOTAL CURRENT LIABILITIES 6,583,070 5,531,983
Convertible notes payable, net of discount of $ 2,333,333 and $2,583,333, respectively 666,667 416,667
Capital leases payable, less current maturities 89,880 105,918
Deferred rent 1,837,777 1,055,138
Deferred tax liabilities 1,313,450 1,340,000
Long-term debt, less current maturities 196,868 398,906
TOTAL LIABILITIES 10,687,712 8,848,612
Commitments and contingencies (Note 13)      
Stockholders' equity:    
Common stock: $0.0001 par value; authorized 45,000,000 shares; issued and outstanding 6,321,933 and 5,387,897 shares at March 31, 2014 and December 31, 2013, respectively 635 541
Additional paid in capital 30,634,438 25,404,994
Other comprehensive loss (64,342) (88,370)
Accumulated deficit (15,923,126) (14,472,816)
Non-controlling interest 421,009 394,645
TOTAL STOCKHOLDERS' EQUITY 15,068,614 11,238,994
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 25,756,326 $ 20,087,606