Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 990,756 $ 1,224,415
Accounts and other receivables 222,755 862,935
Inventories 517,594 569,545
Due from related parties 45,615 45,615
Prepaid expenses and other current assets 346,852 522,637
Assets of discontinued operations, current 593,430
TOTAL CURRENT ASSETS 2,123,572 3,818,576
Property and equipment, net 11,531,222 12,144,064
Goodwill 12,518,192 12,702,139
Intangible assets, net 6,571,691 6,776,936
Investments at fair value 11,480 31,322
Other investments 1,050,000 1,050,000
Deposits and other assets 314,759 292,870
Assets of discontinued operations 5,389,300
TOTAL ASSETS 34,120,916 42,205,207
Current liabilities:    
Accounts payable and accrued expenses 4,669,498 4,740,131
Current maturities of long-term debt and notes payable, net of debt discount of $42,966 and $171,868, respectively 6,130,583 5,383,003
Current maturities of convertible notes payable, net of debt discount of $120,820 and $914,724, respectively 3,604,180 2,810,276
Current maturities of capital leases payable 22,115 39,303
Due to related parties 209,563 12,963
Deferred rent 95,298 683,793
Derivative liabilities 1,231,608
Liabilities of discontinued operations, current 161,168 1,279,955
TOTAL CURRENT LIABILITIES 14,892,404 16,181,033
Long-term debt, less current maturities, net of debt discount of $ - and $171,868, respectively 305,105 1,098,641
Capital leases payable, less current maturities 4,773 15,969
Deferred rent 2,037,980 1,740,012
Liabilities of discontinued operations 58,648
Deferred tax liabilities 1,450,089 1,353,771
TOTAL LIABILITIES 18,690,351 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 56,264,045 55,365,597
Accumulated other comprehensive loss (1,247,788) (987,695)
Non-controlling interest 696,181 389,810
Accumulated deficit (40,284,069) (33,012,712)
TOTAL STOCKHOLDERS' EQUITY 15,430,566 21,757,134
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 34,120,916 $ 42,205,207