Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (31,761,110) $ (6,628,887)
Net loss from discontinued operations 5,112,070
Net loss from continuing operations (31,761,110) (1,516,817)
Adjustments to reconcile net loss from continuing operations to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,196,039 1,148,382
Asset impairment charge 633,962
Loss on debt refinancing 95,310
Common stock and warrants issued for services 154,318 24,510
Common stock and warrants issued for interest 349,000
Amortization of debt discount 408,359 726,317
Change in assets and liabilities:    
Accounts and other receivables 194,426 32,395
Prepaid and other assets 26,460 140,440
Inventory (20,693) 73,315
Accounts payable and accrued liabilities (19,125) 502,777
Change in amounts payable to related parties 197,000
Derivative liabilities (1,129,101)
Deferred income taxes 73,520 67,841
Deferred rent 178,453 (257,507)
Net cash provided by (used in) operating activities from continuing operations (255,081) 358,551
Net cash  used in operating activities from discontinued operations (75,000)
Net cash provided by (used in) operating activities (255,081) 283,551
Cash flows from investing activities:    
Purchase of property and equipment (984,301) (392,829)
Cash paid for acquisitions, net of cash acquired (72,215)
Proceeds from sale of investments 8,902
Net cash used in investing activities from continuing operations (984,301) (456,142)
Cash flows from financing activities:    
Proceeds from sale of preferred stock 591,651
Payments related to sale of preferred stock (258,153)
Loan proceeds 6,598,161 125,000
Payments of deferred financing costs (293,294)
Loan repayments (5,478,494) (206,267)
Capital lease payments (14,551) (10,783)
Contribution of non-controlling interest 500,000 46,911
Net cash provided by (used in) financing activities from continuing operations 1,645,320 (45,139)
Effect of exchange rate changes on cash (21,355) (23,474)
Net increase (decrease) in cash and restricted cash 384,583 (241,204)
Cash and restricted cash,  beginning of period 268,575 1,224,415
Cash and restricted cash, end of period 377,695 983,211
Supplemental cash flow information:    
Interest 526,680 68,467
Income taxes 6,532
Non-cash investing and financing activities:    
Convertible debt settled through issuance of common stock 625,000
Accrued interest settled through issuance of convertible debt 95,107
Preferred stock dividends paid through issuance of common stock 15,067
Commons stock issued in connection with business combination 27,018
Purchases of businesses:    
Current assets excluding cash 1,611
Goodwill 70,604
Cash paid for acquisitions $ 72,215