XML 80 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating activities:    
Net income (loss) $ (14,351,561) $ 4,938,407
Less: Net loss from discontinued operations, net of tax (196,705)  
Less: Extraordinary gain, net of tax 6,967,602  
Income (loss) from continuing operations (21,122,458) 4,938,407
Adjustments to reconcile loss from continuing operations to net cash (used in) operating activities:    
Depreciation and amortization 3,636,840 1,709,612
Impairment of goodwill 20,847,608  
Stock-based compensation, net of cashless vesting 41,922  
Provision for doubtful accounts 2,409,733 386,165
Equity in earnings of affiliates (4,502,759) (4,833,992)
Gain on sale of equity investments in affiliates   (365,111)
Changes in assets and liabilities, net of acquisitions and extraordinary items - Accounts receivable, net of provision for doubtful accounts (6,360,666) 34,291
Receivables from affiliates 202,017 (44,116)
Supplies Inventories 96,593 31,772
Prepaid and other current assets (684,284) (519,994)
Other assets 400,415 10,373
Accounts payable 202,838 (52,337)
Accrued liabilities 7,001,418 391,968
Other current liabilities 816,176  
Other liabilities 2,149,353 (436,087)
Net cash provided by operating activities from continuing operations 5,134,746 1,250,951
Net cash (used in) operating activities from discontinued operations (449,993)  
Net cash provided by operating activities 4,684,753 1,250,951
Investing activities:    
Cash received in business acquisition 68,170  
Purchase of property and equipment (3,478,983) (820,120)
Disposal of property and equipment 184,313  
Distributions from affiliates 4,522,247 4,754,001
Cash received in extraordinary gain transaction 463,678  
Sale of equity investments in affiliates   576,873
Purchase of equity investments in affiliates   (200,000)
Net cash provided by investing activities from continuing operations 1,759,425 4,310,754
Net cash provided by investing activities from discontinued operations 200,000  
Net cash provided by investing activities 1,959,425 4,310,754
Financing activities:    
Debt proceeds 12,190,184 887,421
Debt payments (5,358,842) (3,487,018)
Common stock proceeds 375,000  
Preferred noncontrolling interests proceeds 7,500,000  
Redemption of preferred noncontrolling interests (13,509,195)  
Preferred noncontrolling interests dividends (919,715) (211,094)
Distributions to noncontrolling interests (94,492) (63,004)
Contributions from noncontrolling interests   12,500
Distributions from (to) member (766,118) (1,611,097)
Net cash (used in) financing activities from continuing operations (583,178) (4,472,292)
Net cash (used in) financing activities from discontinued operations (294,039)  
Net cash (used in) financing activities (877,217) (4,472,292)
Net change in cash and cash equivalents 5,766,961 1,089,413
Cash and cash equivalents at beginning of period 2,524,417 981,105
Cash and cash equivalents at end of period 8,291,378 2,070,518
Cash Paid for Interest and Income Taxes:    
Interest expense 1,436,125 1,253,325
Interest expense, discontinued operations 34,689  
Income taxes, continuing operations      
Income taxes, discontinued operations      
Noncash Investing and Financing Activities:    
Common stock warrants issued (936,000)  
Seller financing - reverse acquisition 2,000,000  
Debt and liabilities assumed - reverse acquisition 1,991,773  
Debt converted to common stock $ (14,138,187)