Annual report pursuant to section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 6,176,575 $ 543,214
Accounts receivable, net of allowance for doubtful accounts of approximately $381,000 and $514,000, respectively 5,828,389 2,924,302
Prepaid expenses and other current assets 2,704,787 1,001,449
Total current assets 14,709,751 4,468,965
Property and equipment, net 11,193,355 2,748,062
Other assets:    
Security deposits 585,083 439,741
Restricted cash 1,163,872 1,026,326
Goodwill 5,124,130 2,406,269
Intangible assets, net 35,048,818 15,396,117
Other assets 1,125,652 582,947
Total other assets 43,047,555 19,851,400
TOTAL ASSETS 68,950,661 27,068,427
Current liabilities:    
Notes payable - non-related parties 625,000 208,333
Notes payable - related parties 310,714 639,286
Equipment financing obligations 245,138 136,392
Escrow payable 295,000   
Accounts payable and accrued expenses 11,161,550 10,579,496
Related party payable 226,148 1,159,573
Current liabilities from discontinued operations 55,000 55,000
Total current liabilities 12,918,550 12,778,080
Long-term liabilities:    
Notes payable - non-related parties, net of discount 36,788,987 14,475,747
Notes payable - related parties 1,478,081 4,492,136
Equipment financing obligations 167,614 102,071
Derivative liability 10,515,472 1,066,000
Other long-term liabilities 131,627 266,132
Total liabilities 62,000,331 33,180,166
Commitments and contingencies      
Stockholders' equity (deficit):    
Preferred stock, $0.01 par value, 10,000,000 shares authorized, 23,525 and 11,907 shares issued and outstanding 235 119
Common stock, $0.01 par value, 550,000,000 shares authorized, 303,833,242 and 178,250,533 shares issued and outstanding 3,038,331 1,782,504
Capital in excess of par value 163,648,034 146,760,005
Accumulated deficit (159,736,270) (154,654,367)
Total stockholders' equity (deficit) 6,950,330 (6,111,739)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 68,950,661 $ 27,068,427