Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net loss $ (9,412,914) $ (14,455,643)
Net loss from discontinued operations 5,066,880 6,373,790
Net loss from continuing operations (4,346,034) (8,081,853)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:    
Depreciation and amortization 2,341,697 1,697,514
Loss on extinguishment of debt 315,923
Loss on disposal of property and equipment 514,522
Loss (gain) on sales of investments 169,639
Common stock and warrants issued for services 24,510 279,362
Common stock and warrants issued for interest 349,000
Amortization of debt discount 1,039,656 2,379,951
Amortization of warrants 22,375
Change in assets and liabilities:    
Accounts and other receivables (336,546) 96,261
Prepaid and other assets 113,633 (78,236)
Inventory 33,217 6,016
Accounts payable and accrued liabilities 1,540,463 (235,283)
Change in amounts payable to related parties 194,350 (198,669)
Derivative liabilities (1,231,608) (868,592)
Deferred income taxes 131,783 94,527
Deferred rent (288,279) (300,259)
Net cash used in operating activities from continuing operations (434,158) (4,186,802)
Net cash used in operating activities from discontinued operations (75,000) (1,064,363)
Net cash used in operating activities (509,158) (5,251,165)
Cash flows from investing activities:    
Purchase of property and equipment (1,191,174) (1,798,221)
Cash paid for acquisitions, net of cash acquired (72,215) (9,022,791)
Proceeds from sale of investments 8,902 330,361
Net cash used in investing activities from continuing operations (1,254,487) (10,490,651)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 14,921,903
Proceeds from sale of preferred stock 257,175
Loan proceeds 275,000 2,813,074
Loan repayments (513,523) (891,529)
Capital lease payments (40,636) (52,807)
Contribution of non-controlling interest 823,671
Net cash provided by financing activities from continuing operations 801,687 16,790,641
Effect of exchange rate changes on cash 6,118 (4,944)
Net increase (decrease) in cash (955,840) 1,043,881
Cash, beginning of period 1,224,415 180,534
Cash, end of period 268,575 1,224,415
Supplemental cash flow information:    
Interest 581,072 1,068,383
Income taxes 51,100 79,228
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
Debt discount for fair value of warrants and conversion feature issued in connection with debt 1,781,588
Convertible debt settled through issuance of common stock 2,275,000
Long-term debt settled through issuance of common stock 100,000
Purchases of businesses:    
Current assets excluding cash 1,611 1,148,334
Property and equipment 5,387,283
Goodwill 70,604 4,579,666
Trade name/trademarks/franchise fees 4,300,000
Liabilities assumed (2,330,175)
Common stock issued (4,062,317)
Cash acquired 253,638
Cash paid for acquisitions $ 72,215 $ 9,276,429