Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (1,596,979) $ (2,409,785)
Net loss from discontinued operations 1,899
Net loss from continuing operations $ (1,596,979) (2,407,886)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization $ 828,655 438,637
Common stock and warrants issued for services 106,100
Amortization of debt discount $ 363,159 474,874
Change in assets and liabilities:    
Accounts and other receivables (74,478) 19,743
Prepaid and other assets 149,941 (85,204)
Inventory 83,087 41,790
Accounts payable and accrued liabilities 983,713 777,560
Change in amounts payable to non-controlling interest 175,000 (479,830)
Derivative liabilities (615,662) (338,053)
Deferred income taxes 32,233 (32,920)
Deferred rent (219,492) (78,785)
Net cash provided by (used in) operating activities from continuing operations $ 109,177 (1,563,974)
Net cash used in operating activities from discontinued operations (4,500)
Net cash provided by (used in) operating activities $ 109,177 (1,568,474)
Cash flows from investing activities:    
Purchase of property and equipment (256,975) (262,764)
Cash paid for acquisitions, net of cash acquired (72,215) (4,222,929)
Net cash used in investing activities from continuing operations $ (329,190) (4,485,693)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 7,062,715
Loan proceeds 2,204,369
Loan repayments $ (136,575) (137,079)
Capital lease payments (10,783) $ (14,271)
Contribution of non-controlling interest 13,017
Net cash (used in) provided by financing activities from continuing operations (134,341) $ 9,115,734
Effect of exchange rate changes on cash 4,468 17,174
Net increase (decrease) in cash (349,886) 3,078,741
Cash, beginning of period 1,527,886 245,828
Cash, end of period 1,178,000 3,324,569
Supplemental cash flow information:    
Interest $ 31,728 $ 315,476
Income taxes
Non-cash investing and financing activities:    
Purchase of equipment using capital leases $ 50,087
Issuance of stock in connection with business combinations 1,000,000
Debt discount for fair value of warrants and conversion feature issued in connection with debt 1,233,908
Convertible debt settled through issuance of common stock 507,428
Long-term debt settled through issuance of common stock 100,000
Purchases of businesses:    
Current assets excluding cash $ 1,611 200,549
Property and equipment 2,154,023
Goodwill $ 70,604 426,038
Trade name/trademarks/franchise fees 2,750,000
Deposits and other assets 56,921
Liabilities assumed (364,602)
Common stock issued (1,000,000)
Cash acquired 11,000
Cash paid for acquisitions $ 72,215 $ 4,233,929