Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (18,465,032) $ (7,199,267)
Net loss from discontinued operations (1,021,674) 171,055
Loss from continuing operations (17,443,358) (7,370,322)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Depreciation and amortization 1,842,352 1,816,826
Amortization of operating lease assets 1,701,962
Asset impairment charges 9,149,852 1,899,817
Write-off investment in HOA 435,000
Common stock and warrants issued for services 24,507 129,767
Stock based compensation 126,829
Loss on warrant inducement 105,089  
Gain on investments (21,616) 45,932
Gain on tax settlements (195,982)
Amortization of debt discount and discount on preferred stock 893,873
Change in assets and liabilities:    
Accounts and other receivables 180,431 114,007
Prepaid and other assets (152,588) 2,767
Inventory (68,163) 72,802
Accounts payable and accrued liabilities 2,134,821 2,511,940
Change in amounts payable to related parties (185,726) (624)
Deferred income taxes 25,539 (779,359)
Operating lease liabilities (1,793,197)
Deferred revenue (215,061) (22,130)
Deferred rent (54,307)
Net cash flows from continuing operating activities (4,349,309) (739,011)
Net cash flows from operating activities from discontinued operations 302,759 (370,623)
Net cash flows from operating activities (4,046,550) (1,109,634)
Cash flows from investing activities:    
Purchase of property and equipment (472,882) (1,698,747)
Proceeds from tenant improvement allowances 335,075
Cash paid for acquisitions (30,000)
Proceeds from sale of assets 525,872
Net cash flows from continuing investing activities 388,065 (1,728,747)
Net cash flow from investing activities from discontinued operations 290,604 (322,284)
Net cash flows from investing activities 678,669 (2,051,031)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 153,055 1,687,184
Proceeds from rights offering, net 2,694,530
Loan proceeds  
Loan repayments (270,579)
Distributions to non-controlling interest (79,188) (101,163)
Contributions from non-controlling interest 575,000 800,000
Net cash flows from continuing financing activities 3,343,397 2,115,442
Net cash flows from financing activities from discontinued operations 33,652
Net cash flows from financing activities 3,343,397 2,115,442
Effect of exchange rate changes on cash 1,390 3,091
Net increase (decrease) in cash and restricted cash (23,094) (1,042,132)
Cash and restricted cash, beginning of period 524,111 1,566,243
Cash and restricted cash, end of period 501,017 524,111
Cash & Restricted Cash    
Cash 500,681 523,776
Restricted Cash 336 335
Total Cash & Restricted Cash 501,017 524,111
Cash paid for interest and income taxes:    
Interest 556,352 553,898
Income taxes 110,707 40,589
Non-cash investing and financing activities:    
Convertible debt settled through issuance of common stock   200,000
Accrued interest settled through issuance of convertible debt   43,345
Preferred stock dividends paid through issuance of common stock 77,144 77,452
Common stock issued for payment of directors fees 444,119
Convertible debt and notes payable settled through subscriptions in the rights offering 3,075,000
Debt issued to fund acquisitions 196,366
Fixed asset additions included in accounts payable and accrued expenses at year end 330,771 510,788
Default interest paid in connection with warrants issued as part of debt modification $ 1,494,999