Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (11,897,498) $ (3,481,133)
Net (income) loss from discontinued operations (189) 161,196
Net loss from continuing operations (11,897,687) (3,319,937)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,205,255 $ 1,162,088
Deferred income taxes $ (31,834)
Equity in losses of investments $ 40,694
Asset impairment charge $ 4,489,043
Loss on extinguishment of debt 315,923
Loss on disposal of property and equipment 514,522
Common stock and warrants issued for services 231,857 $ 354,617
Amortization of debt discount 1,356,365 930,392
Amortization of warrants 22,375 152,325
Change in fair value of derivative liabilities (833,139) (925,200)
(Increase) decrease in accounts and other receivables (70,421) (244,553)
Decrease in prepaid expenses and other assets (171,450) (107,161)
Decrease in inventory 2,239 33,845
Increase in accounts payable and accrued expenses 1,224,599 $ 3,150,118
(Decrease) increase in deferred rent (311,104)
Net cash (used in) provided by operating activities from continuing operations (3,953,457) $ 1,308,335
Net cash (used in) provided by operating activities from discontinued operations (4,500) (254,790)
Net cash (used in) provided by operating activities (3,957,957) 1,053,545
Cash flows from investing activities:    
Purchase of property and equipment (1,518,747) (3,569,775)
Cash paid for acquisitions, net of cash acquired (9,082,918) 27,527
Net cash used in investing activities from continuing operations (10,601,665) (3,542,248)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 14,920,937 835,000
Loan proceeds 656,837 $ 1,458,308
Loan repayments (824,981)
Proceeds from convertible debt 2,150,000
Capital lease payments (39,822) $ (142,906)
Decrease in amounts payable to affiliate (1,086,684)
Minority Interest 333,342 $ 33,500
Net cash provided by financing activities from continuing operations 16,109,629 2,183,902
Effect of exchange rate changes on cash 10,092 119,884
Net increase (decrease) in cash 1,560,099 (184,917)
Cash, beginning of period 245,828 442,694
Cash, end of period 1,805,927 257,777
Supplemental cash flow information:    
Interest 810,028 63,503
Income taxes 54,183 $ 1,776
Non-cash investing and financing activities:    
Purchase of equipment using capital leases 50,087
Issuance of stock in connection with business combinations 4,062,317 $ (5,401,639)
Debt discount for fair value of warrants and conversion feature issued in connection with debt 1,176,108
Convertible debt settled through issuance of common stock 2,175,000
Long-term debt settled through issuance of common stock 100,000
Purchases of businesses:    
Current assets excluding cash 476,569 $ 636,894
Property and equipment 5,386,141 7,945,152
Goodwill 4,019,972 11,394,009
Trade name/trademarks/franchise fees $ 4,300,000 559,304
Deposits and other assets 136,025
Liabilities assumed $ (1,037,446) (4,165,235)
Non-controlling interest (4,753,288)
Chanticleer equity (1,028,749)
Common stock issued $ (4,062,317) (5,401,639)
Assumption of debt (5,000,000)
Cash paid $ (9,276,429) (350,000)
Cash acquired $ 193,510 $ 27,527