Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.2.0.727
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash $ 2,808,181 $ 245,828
Accounts and other receivables 413,473 313,509
Inventories 591,294 532,803
Due from related parties 45,615 46,015
Prepaid expenses and other current assets 517,986 330,745
TOTAL CURRENT ASSETS 4,376,549 1,468,900
Property and equipment, net 14,572,594 13,315,409
Goodwill 15,812,260 15,617,308
Intangible assets, net 6,024,161 3,396,503
Investments at fair value 35,362 35,362
Other investments 1,550,000 1,550,000
Deposits and other assets 401,262 408,492
TOTAL ASSETS 42,772,188 35,791,974
Current liabilities:    
Current maturities of long-term debt and notes payable 3,195,365 1,813,647
Current maturities of convertible notes payable, net of debt discount of $731,125 and $63,730, respectively 268,875 436,270
Derivative liability 1,847,192 1,945,200
Accounts payable and accrued expenses 6,868,504 5,580,131
Current maturities of capital leases payable 55,521 42,032
Deferred rent 609,601 118,986
Due to related parties 616,829 $ 1,299,083
Deferred revenue 25,250  
Liabilities of discontinued operations 177,204 $ 177,393
TOTAL CURRENT LIABILITIES 13,664,341 11,412,742
Convertible notes payable, net of debt discount of $1,237,727 and $1,872,587, respectively 2,012,274 1,477,413
Capital leases payable, less current maturities 40,393 36,628
Deferred rent 1,955,636 2,196,523
Deferred tax liabilities 618,220 686,884
Long-term debt, less current maturities, net of debt discount of $257,800 and $343,733, respectively 2,867,180 5,009,283
TOTAL LIABILITIES $ 21,158,044 $ 20,819,473
Stockholders' equity:    
Preferred stock: no par value; authorized 5,000,000 shares; none issued and outstanding    
Common stock: $0.0001 par value; authorized 45,000,000 shares; issued and outstanding 13,681,330 and 7,249,442 shares at June 30, 2015 and December 31, 2014, respectively $ 1,368 $ 725
Additional paid in capital 46,040,386 32,601,400
Accumulated other comprehensive loss (3,122,634) (1,657,908)
Non-controlling interest 4,818,673 4,904,471
Accumulated deficit (26,123,649) (20,876,187)
TOTAL STOCKHOLDERS' EQUITY 21,614,144 14,972,501
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 42,772,188 $ 35,791,974