Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (3,481,948) $ (2,533,545)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,837,148 2,916,263
Loss on disposal of property and equipment 26,800 60,822
Stock-based compensation 224,647 198,884
Stock issued for services rendered or in settlement of liabilities 164,450 51,900
Amortization of debt discount and deferred financing fees 209,628 158,878
Gain in the change in fair value of derivative liability 40,445 (182,400)
Changes in operating assets and liabilities:    
Accounts receivable (2,403,196) (519,098)
Prepaid expenses and other current assets (874,327) (930,554)
Other assets 8,295 9,807
Accounts payable and accrued expenses 3,617,302 390,727
Net cash provided by (used in) operating activities 1,369,244 (378,316)
Cash flows from investing activities:    
Purchase of property and equipment (984,642) (988,768)
Proceeds from the sale of property and equipment 40,680 23,961
Payment for acquisitions, net of cash acquired (558,329) 16,895
Net cash used in investing activities (1,502,291) (947,912)
Cash flows from financing activities:    
Proceeds from the exercise of common stock purchase warrants 780,951 0
Repayments of term loan (812,500) 0
Payments for obligations under asset purchase agreements (191,668) 0
Repayments of notes payable - related parties 0 (238,111)
Payments on equipment financing obligations (223,493) (241,099)
Net cash used in financing activities (446,710) (479,210)
Net change in cash and cash equivalents (579,757) (1,805,438)
Cash and cash equivalents, including restricted cash, beginning of period 7,249,063 7,705,666
Cash and cash equivalents, including restricted cash, end of period $ 6,669,306 $ 5,900,228