Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v2.4.1.9
CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 7,905,004us-gaap_CashAndCashEquivalentsAtCarryingValue $ 11,681,086us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts receivable, net 4,408,396us-gaap_AccountsReceivableNetCurrent 2,923,754us-gaap_AccountsReceivableNetCurrent
Inventory 1,139,305us-gaap_InventoryNet 978,392us-gaap_InventoryNet
Other current assets 1,937,392us-gaap_OtherAssetsCurrent 832,951us-gaap_OtherAssetsCurrent
Due from related parties 1,157,134us-gaap_DueFromRelatedPartiesCurrent 245,280us-gaap_DueFromRelatedPartiesCurrent
Total current assets 16,547,231us-gaap_AssetsCurrent 16,661,463us-gaap_AssetsCurrent
Property & equipment, net 18,815,625us-gaap_PropertyPlantAndEquipmentNet 13,445,413us-gaap_PropertyPlantAndEquipmentNet
Investments 2,802,443us-gaap_LongTermInvestments 2,539,272us-gaap_LongTermInvestments
Deferred tax assets 35,418us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent 232,694us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent
Other assets 793,002us-gaap_OtherAssetsNoncurrent 1,333,432us-gaap_OtherAssetsNoncurrent
Security deposits 2,368,422us-gaap_SecurityDeposit 984,657us-gaap_SecurityDeposit
Total assets 41,362,141us-gaap_Assets 35,196,931us-gaap_Assets
Current liabilities:    
Cash overdraft 85,598us-gaap_BankOverdrafts 256,843us-gaap_BankOverdrafts
Notes payable, current portion 0us-gaap_NotesPayableCurrent 15,000us-gaap_NotesPayableCurrent
Term loan, current portion 1,495,000us-gaap_MediumtermNotesCurrent 0us-gaap_MediumtermNotesCurrent
Line of credit 0us-gaap_LinesOfCreditCurrent 4,316,865us-gaap_LinesOfCreditCurrent
Accounts payable 3,433,198us-gaap_AccountsPayableCurrent 2,706,027us-gaap_AccountsPayableCurrent
Accrued expenses 2,004,704us-gaap_AccruedLiabilitiesCurrent 3,137,207us-gaap_AccruedLiabilitiesCurrent
Due to related parties 19,608us-gaap_DueToRelatedPartiesCurrent 27,979us-gaap_DueToRelatedPartiesCurrent
Deferred revenue 127,950us-gaap_DeferredRevenueCurrent 27,527us-gaap_DeferredRevenueCurrent
Total current liabilities 7,166,058us-gaap_LiabilitiesCurrent 10,487,448us-gaap_LiabilitiesCurrent
Other long-term liabilities 67,277us-gaap_OtherLiabilitiesNoncurrent 39,750us-gaap_OtherLiabilitiesNoncurrent
Derivative liability 6,241,000us-gaap_DerivativeLiabilitiesNoncurrent 10,095,000us-gaap_DerivativeLiabilitiesNoncurrent
Term loan 5,980,000us-gaap_MediumtermNotesNoncurrent 0us-gaap_MediumtermNotesNoncurrent
Deferred rent payable 9,435,109us-gaap_DeferredRentCreditNoncurrent 6,348,097us-gaap_DeferredRentCreditNoncurrent
Total liabilities 28,889,444us-gaap_Liabilities 26,970,295us-gaap_Liabilities
Commitments and contingencies      
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 December 31, 2014 and 2013, respectively 2,494us-gaap_CommonStockValue 2,495us-gaap_CommonStockValue
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2014 and 2013, respectively 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Additional paid-in capital 30,966,611us-gaap_AdditionalPaidInCapital 30,502,656us-gaap_AdditionalPaidInCapital
Accumulated deficit (18,005,401)us-gaap_RetainedEarningsAccumulatedDeficit (22,635,560)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive (loss) income (230,696)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 49,402us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total stockholders’ equity 12,733,008us-gaap_StockholdersEquity 7,918,993us-gaap_StockholdersEquity
Noncontrolling interest (260,311)us-gaap_MinorityInterest 307,643us-gaap_MinorityInterest
Total stockholders’ equity including noncontrolling interest 12,472,697us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 8,226,636us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total Liabilities and Stockholders’ Equity $ 41,362,141us-gaap_LiabilitiesAndStockholdersEquity $ 35,196,931us-gaap_LiabilitiesAndStockholdersEquity