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 $)
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net loss $ (2,932,850) $ (2,348,008)
Less: net loss from discontinued operations (19,513) (124,872)
Net loss from continuing operations (2,952,363) (2,472,880)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 373,226 265,068
Equity in losses of investments 46,184 10,474
Amortization of warrants 272,529 120,632
Common stock issued for services 124,720 25,606
Gain on debt extinguishment (70,900) 0
Amortization of debt discount 166,667 0
Interest expense 150,200 0
Change in fair value of derivative liablility 75,900 0
Decrease (increase) in accounts and other receivables 46,427 (87,586)
Increase in prepaid expenses and other assets (108,942) (178,976)
Decrease (increase) in inventory 86,496 (75,289)
Increase in accounts payable and accrued expenses 105,314 477,250
Increase in deferred rent 14,670 17,315
Increase in income taxes payable 0 7,997
Repayment (advance) from related parties for working capital 52 (89,587)
Net cash used in operating activities from continuing operations (1,669,820) (1,979,976)
Net cash used in operating activities from discontined operations (11,917) (16,007)
Net cash used in operating activities (1,681,737) (1,995,983)
Cash flows from investing activities:    
Proceeds from non-controlling interests 0 90,000
Repayments (purchases) of investments 98,434 (1,213,391)
Restricted cash (3,000,000) 0
Franchise costs (75,000) (210,000)
Cash acquired from business combination 53,684 0
Purchase of property and equipment (86,919) (1,169,191)
Net cash used in investing activities from continuing operations (3,009,801) (2,502,582)
Net cash used in investing activities from discontinued operations 0 0
Net cash used in investing activities (3,009,801) (2,502,582)
Cash flows from financing activities:    
Sale of common stock 0 7,051,464
Loan proceeds 3,342,000 2,915,000
Advances from investors 575,000 0
Decrease in other liabilities (270,646) (32,313)
Loan and capital lease repayments (36,821) (3,967,747)
Net cash provided by financing activities from continuing operations 3,609,533 5,966,404
Net cash (used in) provided by financing activities from discontinued operations 0 0
Net cash provided by financing activities 3,609,533 5,966,404
Effect of exchange rate changes on cash 71,431 45,466
Net change in cash (1,010,574) 1,513,305
Cash, beginning of period 1,223,803 165,129
Cash, end of period 213,229 1,678,434
Supplemental cash flow information:    
Interest 43,920 237,604
Income taxes 0 0
Non-cash investing and financing activities:    
Convertible notes payable exchanged for common stock 0 1,907,238
Purchase of equipment using capital leases 53,943 0
Common stock units issued for Hoot limited partner units 0 986,651
Common stock and warrants issued to acquire American Roadside Burgers, Inc. (ARB):    
Current assets acquired 274,211 0
Property and equipment 2,948,102 0
Goodwill 1,653,016 0
Trade name/trademark 1,784,443 0
Deposits and other assets 98,035 0
Liabilities assumed (1,490,288) 0
Common stock and warrants issued $ (5,321,203) $ 0