Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.5.0.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 1,791,250 $ 1,841,872
Accounts receivable, net 4,558,524 4,063,516
Inventory 1,162,934 1,152,119
Other current assets 2,283,859 3,559,053
Due from related parties, net 732,666 1,232,356
Total current assets 10,529,233 11,848,916
Property and equipment, net 35,716,490 27,952,327
Investments 3,133,722 2,910,362
Deferred tax assets 13,839,416 10,093,672
Security deposits 2,484,227 2,444,482
Other assets 1,008,600 691,551
Total assets 66,711,688 55,941,310
Current liabilities:    
Cash overdraft 404,543 973,754
Long term debt, current portion 3,149,633 2,680,116
Accounts payable 3,581,691 2,396,622
Accrued expenses 5,274,617 4,635,584
Derivative liability 0 100,000
Deferred revenue 662,184 204,033
Total current liabilities 13,072,668 10,990,109
Deferred license revenue, long-term 1,197,081 1,099,570
Long term debt, net of current portion 12,031,122 9,956,647
Deferred rent payable 16,445,310 14,290,010
Total liabilities 42,746,181 36,336,336
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.0001 par value, 75,000,000 shares authorized; 25,050,628 and 24,972,515 shares issued and outstanding at September 30, 2016 (unaudited) and December 31, 2015, respectively 2,505 2,497
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding at September 30, 2016 (unaudited) and December 31, 2015, respectively 0 0
Additional paid-in capital 36,869,681 31,778,266
Accumulated deficit (11,614,217) (11,074,708)
Accumulated other comprehensive loss (570,999) (420,383)
Total stockholders’ equity 24,686,970 20,285,672
Noncontrolling interest (721,463) (680,698)
Total stockholders’ equity including noncontrolling interest 23,965,507 19,604,974
Total Liabilities and Stockholders’ Equity $ 66,711,688 $ 55,941,310