Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets:    
Cash $ 322,770 $ 442,694
Accounts receivable 386,145 227,181
Other receivable 44,494 50,380
Inventories 542,344 381,408
Due from related parties 108,417 116,305
Prepaid expenses and other current assets 510,694 495,165
TOTAL CURRENT ASSETS 1,914,864 1,713,133
Property and equipment, net 14,591,942 5,620,189
Goodwill 18,191,967 6,496,756
Intangible assets, net 3,751,653 3,424,632
Investments at fair value 35,362 55,112
Other investments 1,550,000 2,491,963
Deposits and other assets 463,455 285,821
TOTAL ASSETS 40,499,243 20,087,606
Current liabilities:    
Current maturities of long-term debt and notes payable 2,092,005 835,454
Current maturities of convertible note payable, net of discount of $136,908 363,092 0
Derivative liability 1,513,500 2,146,000
Accounts payable and accrued expenses 5,368,606 2,425,873
Current maturities of capital leases payable 85,728 59,162
Deferred rent 132,180 53,303
Loan payable 951,360 0
Due to related parties 186,627 12,191
TOTAL CURRENT LIABILITIES 10,693,098 5,531,983
Convertible notes payable, net of discount of $ 1,833,333 and $2,583,333, respectively 1,166,667 416,667
Capital leases payable, less current maturities 60,284 105,918
Deferred rent 1,857,763 1,055,138
Deferred tax liabilities 1,242,975 1,340,000
Long-term debt, less current maturities 5,016,715 398,906
TOTAL LIABILITIES 20,037,502 8,848,612
Commitments and contingencies (Note 10)      
Stockholders' equity:    
Common stock: $0.0001 par value; authorized 45,000,000 shares; issued and outstanding 6,978,061 and 5,387,897 shares at September 30, 2014 and December 31, 2013, respectively 700 541
Additional paid in capital 32,615,110 25,404,994
Other comprehensive income (loss) 146,880 (88,370)
Accumulated deficit (17,885,631) (14,472,816)
Non-controlling interest 5,584,682 394,645
TOTAL STOCKHOLDERS' EQUITY 20,461,741 11,238,994
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 40,499,243 $ 20,087,606