Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 7,119,352 $ 11,681,086
Accounts receivable, net 3,373,504 2,923,754
Inventory 965,891 978,392
Other current assets 693,800 832,951
Due from related parties 268,344 245,280
Total current assets 12,420,891 16,661,463
Property & equipment, net 15,455,687 13,445,413
Investments 2,500,753 2,539,272
Deferred tax assets 92,361 232,694
Other assets 2,238,309 1,333,432
Security deposits 875,192 984,657
Total assets 33,583,193 35,196,931
Current liabilities:    
Cash overdraft 566,797 256,843
Notes payable, current portion 5,000 15,000
Line of credit 4,993,849 4,316,865
Accounts payable 2,100,203 2,706,027
Accrued expenses 1,627,508 3,137,207
Due to related parties 228,744 27,979
Deferred revenue 79,520 27,527
Total current liabilities 9,601,621 10,487,448
Other long-term liabilities 39,750 39,750
Derivative liability 7,308,000 10,095,000
Deferred rent payable 6,535,569 6,348,097
Total liabilities 23,484,940 26,970,295
Stockholders' equity:    
Common stock, $0.0001 par value, 75,000,000 shares authorized; 24,940,195 and 24,946,739 shares issued and outstanding at June 30, 2014 (unaudited) and December 31, 2013, respectively 2,494 2,495
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding at June 30, 2014 (unaudited) and December 31, 2013, respectively      
Additional paid-in capital 30,670,025 30,502,656
Accumulated deficit (20,344,165) (22,635,560)
Accumulated other comprehensive income 93,624 49,402
Total stockholders' equity 10,421,978 7,918,993
Noncontrolling interest (323,725) 307,643
Total stockholders' equity including noncontrolling interest 10,098,253 8,226,636
Total Liabilities and Stockholders' Equity $ 33,583,193 $ 35,196,931