Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v2.4.1.9
CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 4,520,794us-gaap_CashAndCashEquivalentsAtCarryingValue $ 7,905,004us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts receivable, net 4,145,072us-gaap_AccountsReceivableNetCurrent 4,408,396us-gaap_AccountsReceivableNetCurrent
Inventory 943,403us-gaap_InventoryNet 1,139,305us-gaap_InventoryNet
Other current assets 3,415,364us-gaap_OtherAssetsCurrent 1,937,392us-gaap_OtherAssetsCurrent
Due from related parties 1,347,271us-gaap_DueFromRelatedPartiesCurrent 1,157,134us-gaap_DueFromRelatedPartiesCurrent
Total current assets 14,371,904us-gaap_AssetsCurrent 16,547,231us-gaap_AssetsCurrent
Property & equipment, net 20,797,549us-gaap_PropertyPlantAndEquipmentNet 18,815,625us-gaap_PropertyPlantAndEquipmentNet
Investments 2,797,085us-gaap_LongTermInvestments 2,802,443us-gaap_LongTermInvestments
Deferred tax assets 37,022us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent 35,418us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent
Other assets 752,630us-gaap_OtherAssetsNoncurrent 793,002us-gaap_OtherAssetsNoncurrent
Security deposits 2,354,834us-gaap_SecurityDeposit 2,368,422us-gaap_SecurityDeposit
Total assets 41,111,024us-gaap_Assets 41,362,141us-gaap_Assets
Current liabilities:    
Cash overdraft 447,598us-gaap_BankOverdrafts 85,598us-gaap_BankOverdrafts
Term loan, current portion 1,495,000us-gaap_LoansPayableCurrent 1,495,000us-gaap_LoansPayableCurrent
Accounts payable 1,813,113us-gaap_AccountsPayableCurrent 3,433,198us-gaap_AccountsPayableCurrent
Accrued expenses 2,861,728us-gaap_AccruedLiabilitiesCurrent 2,004,704us-gaap_AccruedLiabilitiesCurrent
Due to related parties 0us-gaap_DueToRelatedPartiesCurrent 19,608us-gaap_DueToRelatedPartiesCurrent
Deferred revenue 170,123us-gaap_DeferredRevenueCurrent 127,950us-gaap_DeferredRevenueCurrent
Total current liabilities 6,787,562us-gaap_LiabilitiesCurrent 7,166,058us-gaap_LiabilitiesCurrent
Other long-term liabilities 0us-gaap_OtherLiabilitiesNoncurrent 67,277us-gaap_OtherLiabilitiesNoncurrent
Derivative liability 6,855,000us-gaap_DerivativeLiabilitiesNoncurrent 6,241,000us-gaap_DerivativeLiabilitiesNoncurrent
Term loan 5,606,250us-gaap_LongTermLoansPayable 5,980,000us-gaap_LongTermLoansPayable
Deferred rent payable 10,605,559us-gaap_DeferredRentCreditNoncurrent 9,435,109us-gaap_DeferredRentCreditNoncurrent
Total liabilities 29,854,371us-gaap_Liabilities 28,889,444us-gaap_Liabilities
Stockholders’ equity:    
Common stock, $0.0001 par value, 75,000,000 shares authorized; 24,940,195 shares issued and outstanding at March 31, 2015 (unaudited) and December 31, 2014, respectively 2,494us-gaap_CommonStockValue 2,494us-gaap_CommonStockValue
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2015 (unaudited) and December 31, 2014, respectively 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Additional paid-in capital 31,144,611us-gaap_AdditionalPaidInCapital 30,966,611us-gaap_AdditionalPaidInCapital
Accumulated deficit (19,096,021)us-gaap_RetainedEarningsAccumulatedDeficit (18,005,401)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive income (359,516)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (230,696)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total stockholders’ equity 11,691,568us-gaap_StockholdersEquity 12,733,008us-gaap_StockholdersEquity
Noncontrolling interest (434,915)us-gaap_MinorityInterest (260,311)us-gaap_MinorityInterest
Total stockholders’ equity including noncontrolling interest 11,256,653us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 12,472,697us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total Liabilities and Stockholders’ Equity $ 41,111,024us-gaap_LiabilitiesAndStockholdersEquity $ 41,362,141us-gaap_LiabilitiesAndStockholdersEquity