Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 1,795,847 $ 7,905,004
Accounts receivable, net 4,285,218 4,408,396
Inventory 1,066,565 1,139,305
Other current assets 2,616,828 1,937,392
Due from related parties 1,369,795 1,157,134
Total current assets 11,134,253 16,547,231
Property and equipment, net 26,199,351 18,815,625
Investments 2,991,607 2,802,443
Deferred tax assets 8,424,563 35,418
Other assets 789,219 793,002
Security deposits 2,357,978 2,368,422
Total assets 51,896,971 41,362,141
Current liabilities:    
Cash overdraft 608,769 85,598
Current portion of long term debt 1,929,167 1,495,000
Accounts payable 3,046,999 3,433,198
Accrued expenses 4,979,840 2,004,704
Due to related parties 0 19,608
Deferred revenue 188,079 127,950
Total current liabilities 10,752,854 7,166,058
Other long-term liabilities 0 67,277
Derivative liability 2,324,000 6,241,000
Long term debt, net of current portion 9,079,020 5,980,000
Deferred rent payable 11,887,118 9,435,109
Total liabilities 34,042,992 28,889,444
Stockholders’ equity:    
Common stock, $0.0001 par value, 75,000,000 shares authorized; 24,972,515 and 24,940,195 shares issued and outstanding at September 30, 2015 (unaudited) and December 31, 2014, respectively 2,497 2,494
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding at September 30, 2015 (unaudited) and December 31, 2014, respectively 0 0
Additional paid-in capital 31,633,461 30,966,611
Accumulated deficit (12,721,823) (18,005,401)
Accumulated other comprehensive loss (492,439) (230,696)
Total stockholders’ equity 18,421,696 12,733,008
Noncontrolling interest (567,717) (260,311)
Total stockholders’ equity including noncontrolling interest 17,853,979 12,472,697
Total Liabilities and Stockholders’ Equity $ 51,896,971 $ 41,362,141