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
Operating Activities    
Net loss $ (5,029,025) $ (4,864,287)
Depreciation and amortization 1,341,792 904,230
Amortization of debt discount and loan origination cost 319,541 63,886
Stock based compensation 128,172 220,156
Changes in operating assets and liabilities:    
Accounts receivable 144,877 4,333,894
Inventory (76,314) (171,926)
Prepaids and other assets (1,039,737) 602,503
Accounts payable and accrued expenses (551,546) 639,130
Net cash provided by (used in) operating activities (4,762,240) 1,727,586
Investing Activities    
Purchases of equipment (3,652,475) (1,141,018)
Net cash provided by investing activities (3,652,475) (1,141,018)
Financing Activities    
Proceeds from sale of common stock, net 982,385
Proceeds from notes payable 19,565,983 194,611
Notes payables financing cost (485,000)
Payments on notes payable (2,041,514) (2,064,455)
Payments on capital lease (187,116) (162,803)
Purchase of treasury stock (37,175)
Net cash provided by (used in) financing activities 17,834,738 (2,069,822)
Net increase (decrease) in cash and cash equivalents 9,420,023 (1,483,254)
Cash and cash equivalents, beginning of period 1,731,364 11,742,489
Cash and cash equivalents, end of period 11,151,387 10,259,235
Supplemental Disclosure of Cash Flow Information    
Cash paid during the year for interest 175,282 107,036
Cash paid during the year for income taxes 52,950 48,429
Non-cash transactions    
Property, plant and equipment additions in accounts payable 174,277 1,071,907
Notes payable cost in accrued and accounts payable 106,065
Notes payable settled through recapitalization $ 22,000,000