Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 983,211 $ 1,224,415
Accounts and other receivables 830,540 862,935
Inventories 499,452 569,545
Due from related parties 45,615 45,615
Prepaid expenses and other current assets 377,585 522,637
Assets of discontinued operations, current 1,673,507 593,430
TOTAL CURRENT ASSETS 4,409,909 3,818,576
Property and equipment, net 11,599,974 12,144,064
Goodwill 12,569,290 12,702,139
Intangible assets, net 6,635,823 6,776,936
Investments at fair value 11,480 31,322
Other investments 1,050,000 1,050,000
Deposits and other assets 297,482 292,870
Assets of discontinued operations 5,389,300
TOTAL ASSETS 36,573,958 42,205,207
Current liabilities:    
Accounts payable and accrued expenses 5,401,930 4,740,131
Current maturities of long-term debt and notes payable, net of discount of $85,930 and $171,868, respectively 6,188,874 5,383,003
Current maturities of convertible notes payable, net of debt discount of $274,345 and $914,724, respectively 3,450,656 2,810,276
Current maturities of capital leases payable 25,087 39,303
Due to related parties 209,963 12,963
Deferred rent 117,627 683,793
Derivative liabilities 102,507 1,231,608
Liabilities of discontinued operations, current 1,832,550 1,279,955
TOTAL CURRENT LIABILITIES 17,329,194 16,181,033
Long-term debt, less current maturities, net of debt discount of $0 and $171,868, respectively 303,462 1,098,641
Capital leases payable, less current maturities 9,120 15,969
Deferred rent 2,048,671 1,740,012
Liabilities of discontinued operations 58,648
Deferred tax liabilities 1,421,612 1,353,771
TOTAL LIABILITIES 21,112,060 20,448,073
Stockholders' equity:    
Preferred stock: no par value; authorized 5,000,000 shares; none issued and outstanding
Common stock: $0.0001 par value; authorized 45,000,000 shares; issued and outstanding 21,957,147 and 21,337,247 shares, respectively 2,196 2,134
Additional paid in capital 55,739,045 55,365,597
Accumulated other comprehensive loss (1,162,535) (987,695)
Non-controlling interest 510,445 389,810
Accumulated deficit (39,627,252) (33,012,712)
TOTAL STOCKHOLDERS' EQUITY 15,461,899 21,757,134
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 36,573,958 $ 42,205,207