Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net loss $ (1,482,425) $ (1,579,082)
Less: net loss from discontinued operations (15,111) (100,523)
Net loss from continuing operations 1,497,536 1,679,605
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 244,100 167,185
Equity in losses of investments 33,053 43,886
Amortization of warrants 85,879 72,063
Common stock issued for services 7,720 9,406
Gain on debt extinguishment (70,900) 0
Decrease (increase) in accounts and other receivables 40,902 (24,010)
(Increase) decrease in prepaid expenses and other assets (38,411) 84,016
Decrease (increase) in inventory 57,796 (34,934)
Increase in accounts payable and accrued expenses 42,190 561,011
Increase in deferred rent 10,262 31,284
Advance from related parties for working capital (19,525) (61,487)
Net cash used in operating activities from continuing operations (1,104,470) (831,185)
Net cash (used in) provided by operating activities from discontinued operations (40,503) 2,552
Net cash used in operating activities (1,144,973) (828,633)
Cash flows from investing activities:    
Proceeds from non-controlling interests 0 90,000
Purchase (repayments) of investments 95,815 (904,857)
Restricted cash (2,750,000) 0
Franchise costs (75,000) (240,000)
Purchase of property and equipment (44,186) (696,839)
Net cash used in investing activities from continuing operations (2,773,371) (1,751,696)
Net cash used in investing activities from discontinued operations 0 0
Net cash used in investing activities (2,773,371) (1,751,696)
Cash flows from financing activities:    
Sale of common stock 0 7,051,464
Loan proceeds, net 342,000 2,915,000
Advances from investors 2,750,000 0
(Decrease) in other liabilities (265,932) (25,012)
Loan and capital lease repayments (25,541) (3,956,813)
Net cash provided by financing activities from continuing operations 2,800,527 5,984,639
Net cash (used in) provided by financing activities from discontinued operations 0 0
Net cash provided by financing activities 2,800,527 5,984,639
Effect of exchange rate changes on cash 54,564 (1,045)
Net change in cash (1,063,253) 3,403,265
Cash, beginning of period 1,223,803 144,189
Cash, end of period 160,550 3,547,454
Supplemental cash flow information:    
Interest 29,606 191,578
Income taxes 0 0
Non-cash investing and financing activities:    
Due to related party exchanged for convertible note payable 0 0
Convertible notes payable exchanged for common stock 0 1,907,238
Accrued interest exchanged for common stock 0 0
Common stock units issued for Hoot limited partner units $ 0 $ 986,651