Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash $ 273,378 $ 442,694
Accounts receivable 118,354 227,181
Other receivable 45,210 50,380
Inventories 475,459 381,408
Due from related parties 113,481 116,305
Prepaid expenses and other current assets 552,490 495,165
TOTAL CURRENT ASSETS 1,578,372 1,713,133
Property and equipment, net 12,697,117 5,620,189
Goodwill 9,182,241 6,496,756
Intangible assets, net 3,608,516 3,424,632
Investments at fair value 35,362 55,112
Other investments 1,550,000 2,491,963
Deposits and other assets 517,526 285,821
TOTAL ASSETS 29,169,134 20,087,606
Current liabilities:    
Current maturities of long-term debt and notes payable 1,959,579 835,454
Current maturities of convertible note payable, net of discount of $210,083 289,917 0
Derivative liability 1,734,500 2,146,000
Accounts payable and accrued expenses 3,572,145 2,425,873
Current maturities of capital leases payable 58,630 59,162
Deferred rent 111,722 53,303
Loan payable 1,571,646 0
Due to related parties 12,181 12,191
TOTAL CURRENT LIABILITIES 9,310,320 5,531,983
Convertible notes payable, net of discount of $ 2,083,333 and $2,583,333, respectively 916,667 416,667
Capital leases payable, less current maturities 73,033 105,918
Deferred rent 1,852,611 1,055,138
Deferred tax liabilities 1,275,317 1,340,000
Long-term debt, less current maturities 180,874 398,906
TOTAL LIABILITIES 13,608,822 8,848,612
Commitments and contingencies (Note 10)      
Stockholders' equity:    
Common stock: $0.0001 par value; authorized 45,000,000 shares; issued and outstanding 6,499,433 and 5,387,897 shares at June 30, 2014 and December 31, 2013, respectively 652 541
Additional paid in capital 31,159,996 25,404,994
Other comprehensive loss (30,339) (88,370)
Accumulated deficit (17,334,191) (14,472,816)
Non-controlling interest 1,764,184 394,645
TOTAL STOCKHOLDERS' EQUITY 15,560,302 11,238,994
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 29,169,124 $ 20,087,606