XML 21 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net loss $ (39,037,489) $ (17,691,060)
Adjustments to reconcile net loss to net cash (used in) provided from operating activities:    
Depreciation and amortization 20,643,572 7,602,144
Interest accretion on landfill liabilities 415,562 125,809
Amortization of capitalized loan fees & debt discount 820,355 436,812
Unrealized loss on fair value liability 175,060
Unrealized gain from change in fair value of contigent consideration (263,458)
Payment in kind interest converted to debt 1,646,114
Unrealized (gain) loss on derivatives 554,112 (159,997)
Bad Debt Expense 566,641 519,911
Stock issued to vendors for services 778,985
Stock and Options issued to employees as incentive compensation 4,125,782 6,441,250
Gain on extinguisment of debt (2,654,821)
Impairment expense 6,235,359 1,255,267
Gain on contigent liability (1,000,000)
Loss from proportionate share of equity investment
Equipment salaried to employee 53,515
Loss (Gain) on disposal of equipment 841 (5,146)
Changes in working capital items net of acquisitions:    
Accounts receivable, net of allowance (2,842,570) (1,352,750)
Prepaid expenses and other current assets (78,318) (440,036)
Contract deposits (536,076)
Other deposits (63,303) (500)
Accounts payable and accrued expenses 978,856 3,073,203
Deferred compensation (769,709) (226,671)
Deferred revenue 2,069,404 519,605
Deferred Rent 53,419
Deferred Tax Liability 39,152 193,482
Net cash (used in) provided by operating activities (7,868,000) 70,308
Cash flows from investing activities:    
Investment in CFS Group of Companies (3,933,276)
Landfill additions (2,402,033) (429,417)
Acquisition of property, plant and equipment (3,407,871) (6,305,372)
Purchases of short-term investments 1,953,969 (1,953,969)
Proceeds from direct financing lease 11,481
Cash proceeds received from post acquisition settlement 245,222
Direct financing lease (179,067)
Proceeds from sale of property, plant and equipment 46,975
Net cash used in investing activities (7,777,730) (8,575,628)
Cash flows from financing activities:    
(Repayments) borrowings on notes due related parties (603,000) 250,000
Repayments on line of credit
Note payable incurred for acquisition
Proceeds from loans 1,646,113 3,195,000
Cash paid for debt issusance cost (866,951)
Proceeds from issuance of common stock, net of fees 15,936,128 2,156,250
Proceeds from issuance of series D preferred stock, net of fees of $136,800 1,273,199
Proceeds from issuance of series E preferred stock, net of fees of $309,800 2,690,999
Proceeds from issuance of Series C Preferred Stock, net of placement fees of $79,688 1,195,312
Proceeds from warrant exercise 4,750
Dividend distribution to non-controlling shareholders (38,804)
Principal payments on capital lease (623,150)
Principal payments on notes payable (3,601,266) (196,109)
Net cash provided from financing activities 15,818,018 6,600,453
Net change in cash 172,288 (1,904,867)
Beginning cash 823,272 2,729,795
Ending cash 997,216 823,272
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 7,860,984 4,165,485
Supplemental Non-Cash Investing and Financing Information:    
Note payable incurred for acquisition 34,100,000
Common stock issued for consideration in an acquisition 1,251,000
Retirement of common stock and related top off provision through the issuance of Reacquisition and exchange of common stock and related top off provision through the issuance of Preferred Stock C (and related derivative liability) 2,673,480
Retirement of Preferred Stock C and related top off provision through the issuance of Common Stock C (and related derivative liability) 1,227,065
Property, plant and equipment additions financed with notes payable and capital leases 10,355,233
Stock for cancellation of warrants 1,232,379
Preferred Stock converted to Common Stock 12,500
Debt issuance costs for common stock to be issued 191,000
Common Stock issued to placement agent 58,250
Series C Preferred Stock    
Supplemental Non-Cash Investing and Financing Information:    
Deemed dividend related to preferred stock 2,115,317
Stock dividend related to preferred stock 135,072
Series D Preferred Stock    
Supplemental Non-Cash Investing and Financing Information:    
Deemed dividend related to preferred stock 531,692
Stock dividend related to preferred stock 106,874
Series E Preferred Stock    
Supplemental Non-Cash Investing and Financing Information:    
Deemed dividend related to preferred stock 1,253,476
Stock dividend related to preferred stock $ 703,168