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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (14,455,844) $ (9,944,074)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,537,323 660,836
Loss on disposal of assets 0 12,313
Stock based compensation expense 5,672,955 1,151,404
Amortisation of deferred stock compensation 0 85,671
Other than temporary impairment on investments 123,428 0
Realized losses from sale of investments 5,178 5,913
Value of stock received for services 0 (1,610,000)
Impairment of goodwill 0 3,299,566
Decrease in fair value of accrued expenses for the acquisition of intangible assets (413,559) 0
Changes in operating assets and liabilities:    
Accounts receivable (275,317) (13,419)
Other receivables (176,301) (53,332)
Inventory (49,828) (53,857)
Prepaid expenses 108,055 (439,437)
Other current assets 110,347 22,779
Investments 0 7,150
Long-term prepaid expenses and other assets (156,704) (458,058)
Accounts payable (280,548) (36,988)
Accrued expenses 183,105 371,578
Advance payable to related party (30,216) 0
Other current liabilities (63,426) (1,135,151)
Taxes payable (198,488) 0
Other non-current liabilities (212,371) 0
Net cash used in operating activities (8,572,211) (8,127,106)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of business, net of cash acquired 0 (190,698)
Proceed from sale of investments, net of transaction costs 1,480 0
Purchases of intangible assets (4,577,740) (1,953)
Purchases of property, plant and equipment (918,289) (129,096)
Net cash used in investing activities (5,494,549) (321,747)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from the issuance of common stock 18,964,849 11,121,956
Proceeds from exercise of stock options 478,798 0
Repayment of advance from affiliate 0 (33,468)
Net cash provided by financing activities 19,443,647 11,088,488
EFFECT OF EXCHANGE RATE CHANGES ON CASH (41,094) 1,112
INCREASE IN CASH AND CASH EQUIVALENTS 5,335,793 2,640,747
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 14,770,584 7,175,215
CASH AND CASH EQUIVALENTS, END OF PERIOD 20,106,377 9,815,962
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for income taxes 99,668 0
Non-cash investing activities    
Acquisition of intangible assets through issuance of the Company's stock 1,096,399 1,442,850
Acquisition of business through issuance of the Company's stock $ 0 $ 14,496,256