Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (4,902,324) $ (7,585,896)
Net loss from discontinued operations 5,180,788
Net loss from continuing operations (4,902,324) (2,405,108)
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 1,768,837 1,738,815
Asset impairment charge 1,472,890
Loss on debt refinancing 95,310
Common stock and warrants issued for services 217,816 24,510
Common stock and warrants issued for interest 349,000
Amortization of debt discount 501,126 925,806
Change in assets and liabilities:    
Accounts and other receivables 249,255 (34,820)
Prepaid and other assets 50,667 153,895
Inventory 23,872 55,173
Accounts payable and accrued liabilities 320,135 501,078
Change in amounts payable to related parties 196,600
Derivative liabilities (1,231,608)
Deferred income taxes 105,729 96,318
Deferred rent 109,219 (290,530)
Net cash provided by (used in) operating activities from continuing operations 12,532 79,129
Net cash used in operating activities from discontinued operations (75,000)
Net cash provided by (used in) operating activities 12,532 4,129
Cash flows from investing activities:    
Purchase of property and equipment (1,323,066) (708,214)
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 (1,323,066) (771,527)
Cash flows from financing activities:    
Proceeds from sale of preferred stock 591,651
Payments related to sale of preferred stock (243,480)
Loan proceeds 6,594,535 125,000
Payment of deferred financing costs (293,294)  
Loan repayments (5,706,774) (340,582)
Proceeds from convertible debt
Capital lease payments (20,916) (32,897)
Contribution of non-controlling interest 675,000 796,911
Net cash provided by financing activities from continuing operations 1,596,722 548,432
Effect of exchange rate changes on cash (8,440) (14,693)
Net increase (decrease) in cash and restricted cash 277,748 (233,659)
Cash and restricted cash, beginning of period 268,575 1,224,415
Cash and restricted cash, end of period 295,462 990,756
Supplemental cash flow information:    
Interest 601,972 270,696
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 34,377
Commons stock issued in connection with working capital adjustment 27,018
Purchases of businesses:    
Current assets excluding cash 1,611
Goodwill 70,604
Cash paid for acquisitions $ 72,215