XML 75 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss before non-controlling interest $ (22,476,929) $ (24,399,394)
Adjustments to reconcile net loss to net cash (used) by operating activities:    
Depreciation and amortization 3,802,547 1,398,541
Investment in consolidated entity   (301,093)
Loss in unconsolidated entity 522,500  
Reversal of bad debt provision (522,500)  
Loan fee amortization 15,046 160,154
Change in derivatives liabilities fair value (676,820) (2,206,642)
Note payable interest accretion 302,744 1,641,325
Senior debt interest settled with common stock 73,037 489,961
Settlement of vendor payable with subsidiary stock   625,000
Share-based compensation 1,785,306 2,123,706
(Increase) decrease in:    
Restricted cash 21,384 (284,339)
Accounts receivable (6,213,432) (4,682,426)
Inventory (286,534) 434,116
Other assets 2,043,110 (506,055)
Increase (decrease) in:    
Accounts payable 359,400 453,770
Accrued expenses and other (1,750,527) (9,719,353)
NET CASH (USED) BY OPERATING ACTIVITIES (23,001,668) (34,772,729)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (2,830,198) (3,286,521)
Investment in consolidated entity   (1,250,000)
NET CASH (USED) BY INVESTING ACTIVITIES (2,830,198) (4,536,521)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock   6,039,905
Proceeds from sale of subsidiary stock   25,000,000
Proceeds from issuance of loan payable 12,684,514 10,000,000
Restricted cash held as collateral on loan payable 10,000,000  
Repayment of mortgage and loans payable (14,463,332) (654,033)
NET CASH PROVIDED BY FINANCING ACTIVITIES 8,221,182 40,385,872
NET (DECREASE) INCREASE IN CASH (17,610,684) 1,076,622
CASH AT BEGINNING OF PERIOD 21,322,257 10,096,414
CASH AT END OF PERIOD 3,711,573 11,173,036
SUPPLEMENTARY INFORMATION:    
Interest paid 648,547 392,719
Income taxes paid 15,000  
NON-CASH TRANSACTIONS:    
Accrued compensation paid by equity instruments 113,126 165,748
Investment in unconsolidated entity per debt conversion into entity shares (See NOTE F) 522,500  
Equipment purchased with financing   756,795
Debt repayment with common shares $ 2,347,826 $ 7,826,086