XML 70 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net loss $ (5,407,622) [1] $ (518,274)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 894,533 [1] 10,890
Non-cash compensation 2,030,501 [1]   
Expenses paid by shareholder and donated to the company    [1] 11,185
Tenant improvement allowance (61,602) [1]   
Loss on debt conversion 66,431 [1]   
Bad debt expense 58,119 [1]   
Accounts receivable (1,328,968) [1] 52,779
Accounts receivable, related party    [1] 8,750
Inventory 3,667,011 [1]   
Prepaid expenses (97,714) [1] 95,605
Other assets (80,543) [1]   
Accounts payable and accrued expenses 2,638,845 [1] 283,546
Accounts payable, related party    [1] 34,526
Deferred revenue 77,390 [1]   
Deferred rent liability 22,292 [1] 38,277
Customer deposits (8,865,320) [1]   
Net cash (used in) operating activities (6,386,647) [1] 17,284
Cash flows from investing activities:    
Cash acquired in SkyMall merger 4,369,535 [1]   
Purchases of property and equipment (514,393) [1] (564,131)
Net cash (used in) investing activities 3,855,142 [1] (564,131)
Cash flows from financing activities:    
Borrowings on bank line of credit 2,900,000 [1]   
Proceeds from notes payable to related party 1,035,000 [1] 700,000
Repayment of note payable to related party (40,000) [1] (333,516)
Net cash provided by financing activities 3,895,000 [1] 366,484
Net (decrease) increase in cash 1,363,495 [1] (180,363)
Cash, beginning of period 363,172 [1] 241,077
Cash, end of period 1,726,667 [1] 60,714
Supplemental Disclosure of Non-Cash Financing Activities:    
Issuance of common stock in connection with note conversion 450,000 [1]   
Issuance of common stock in connection with merger 151,096,000 [1]   
Construction in progress paid for with tenant improvement allowance    [1] 790,550
Cash paid for:    
Interest 27,625 [1]   
Taxes $ 24,208 [1]   
[1] Restated