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 $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net loss $ (1,453,196) $ (762,174)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 364,888 114,224
Equity in losses of investments 40,694 14,247
Common stock issued for services 228,857 0
Amortization of debt discount 259,442 0
Derivative liability adjustment (432,100) 0
Decrease in deferred tax liability (26,550) 0
Amortization of warrants 22,375 48,569
Gain on debt extinguishment 0 (70,900)
Changes in operating assets and liabilities:    
Decrease in accounts and other receivables 57,775 95,949
Decrease (increase) in prepaid expenses and other assets 9,293 (42,002)
Decrease in inventory 85,879 48,137
Increase (decrease) in accounts payable and accrued expenses 32,397 (34,400)
Increase in deferred rent 1,688 5,439
Advance from related parties for working capital 0 (37,804)
Net cash used in operating activities (808,558) (620,715)
Cash flows from investing activities:    
Franchise costs 0 (75,000)
Cash acquired in acquisitions 23,910 0
Purchase of investments (100,000) 0
Purchase of property and equipment (67,702) (23,839)
Net cash used in investing activities (143,792) (98,839)
Cash flows from financing activities:    
Loan proceeds, net 993,088 0
Decrease in other liabilities 0 (118,987)
Subsidiary capital received 29,250 0
Loan and capital lease repayments (72,328) (13,388)
Net cash provided by (used in) financing activities 950,010 (132,375)
Effect of exchange rate changes on cash 35,746 17,474
Net change in cash 33,406 (834,455)
Cash, beginning of period 442,694 1,223,803
Cash, end of period 476,100 389,348
Supplemental cash flow information:    
Interest 30,038 14,294
Income taxes 1,776 0
Purchases of businesses:    
Current assets excluding cash and cash equivalents 201,895 0
Property and equipment 3,122,493 0
Goodwill 2,671,649 0
Trade name/trademarks/franchise fees 60,937 0
Deposits and other assets 25,468 0
Liabilities assumed (1,128,046) 0
Common stock and warrants issued (4,978,306) 0
Cash received in excess of cash paid in acquisition $ 23,910 $ 0