v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (1,988,663) $ (2,681,839)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Depreciation and amortization 542,401 540,679
Amortization of operating lease assets 461,009
Asset impairment charge 91,491 1,677,055
Stock based compensation 100,707
Gain on investments (4,270)
Amortization of debt discount and discount on preferred stock 8,695 289,787
Change in assets and liabilities:    
Accounts and other receivables (142,296) 148,427
Prepaid and other assets (20,546) 48,238
Inventory 44,275 12,556
Accounts payable and accrued liabilities 739,787 470,496
Deferred income taxes 43,150 (336,196)
Operating lease liabilities (463,279)
Deferred revenue (58,932)
Deferred rent (49,205)
Net cash flows from operating activities (646,471) 119,998
Cash flows from investing activities:    
Purchase of property and equipment (334,630) (166,589)
Proceeds from tenant improvement allowances 141,860
Cash paid for acquisitions (30,000)
Proceeds from sale of assets 173,977
Net cash flows from investing activities (18,793) (196,589)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 290,000
Loan proceeds 197,438
Loan repayments (164,769) (134,229)
Distributions to non-controlling interest (10,804)
Contributions from non-controlling interest 575,000
Net cash flows from financing activities 596,865 155,771
Effect of exchange rate changes on cash 282 (4,008)
Net increase (decrease) in cash and restricted cash (68,117) 75,172
Cash and restricted cash, beginning of period 630,206 438,493
Cash and restricted cash, end of period 562,089 513,665
Supplemental cash flow information:    
Interest 160,771 141,573
Income taxes 68,303 22,052
Non-cash investing and financing activities:    
Convertible debt settled through issuance of common stock 200,000
Preferred stock dividends paid through issuance of common stock $ 19,521 $ 19,523

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