Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.0.814
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Cash Flows From Operating Activities    
Net loss $ (23,229,319) $ (24,137,285)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,989,946 2,687,012
Amortization of discount on convertible notes payable 61,626 173,484
Change in fair value of warrant liabilities (3,935,337) (1,794,693)
Release from obligation to U.S. Department of Energy (482,611) 0
Provision for loss on advanced commissions 143,250 385,750
(Gain) loss on settlement of accounts payable for common stock and cash (21,000) 47,856
Impairment of goodwill 4,901,261 0
Impairment of intangible assets 536,161 606,685
Impairment of charging stations 2,854,422 0
Impairment of Ecotality investment 1,200,000 0
Non-compliance penalty for SEC registration requirement 807,188 0
Non-compliance penalty for delinquent regular SEC filings 711,517 0
Preferred stock issuance costs 71,808 $ 0
Provision for inventory shrinkage 92,998
Provision for warrants payable 66,963 $ 1,480,000
Loss on disposal/replacement of charging stations $ 39,768 57,333
Debt conversion expense 687,286
Return of common stock due to arbitration (450,000)
Financing agreement settlement expense $ 0 3,420,000
Non-cash compensation:    
Common stock issued for services and compensation 322,664 $ 2,778,144
Accrued stock compensation expense 66,742
Warrants and options issued for services, compensation and fees 3,849,345 $ 8,022,996
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (162,740) (195,076)
Inventory 172,996 279,841
Prepaid expenses and other current assets (256,214) (232,637)
Other assets 127,454 88,801
Accounts payable and accrued expenses 1,689,945 1,469,218
Deferred revenue 344,846 835,743
Total Adjustments 16,192,998 20,347,743
Net Cash Used in Operating Activities $ (7,036,321) (3,789,542)
Cash Flows From Investing Activities    
Purchase of accounts receivable (163,292)
Purchase of office and computer equipment $ (2,867)
Purchase of automobile $ (137,165)
Purchase of electric charging stations (460,798) $ (1,138,222)
Purchase of network software (162,150)
Investment in estate of Ecotality net of amount owed to Ecotality Estate Creditor's Committee $ (70,000)
Cash paid for acquisitions, net of $34,393 of cash acquired $ (3,325,607)
Net Cash Used In Investing Activities $ (830,113) (4,629,988)
Cash Flows From Financing Activities    
Proceeds from issuance of notes payable and convertible notes payable 400,000 $ 442,000
Proceeds from sale of shares of Series C Convertible Preferred stock and warrants less proceeds held in escrow and expenses $ 1,470,000
Sale of common stock, net of issuance costs $ 17,265,509
Payment of notes and convertible notes payable $ (213,843) (1,464,056)
Net Cash Provided by Financing Activities 1,656,157 16,243,453
Net (Decrease) Increase In Cash (6,210,277) 7,823,923
Cash - Beginning 7,837,339 13,416
Cash - Ending 1,627,062 7,837,339
Cash paid during the period for:    
Interest expense $ 2,851 $ 42,776
Income taxes
Non-cash investing and financing activities:    
Issuance of common stock issued in exchange for conversion of warrants $ 469
Issuance of warrants to placement agents $ 2,535,172
Common stock issued for settlement of accounts payable $ 4,999 $ 37,534
Reclassification of chargers to other assets $ 462,532
Conversion of Series B convertible preferred shares into common shares and warrants $ 1,000
Conversion of notes payable into common stock and warrants $ 165,205
Issuance of common stock for services previously accrued $ 137,000
Purchase of software development for common stock $ 150,000
Registration rights penalty 1,543,000
Purchase of accounts receivable for common stock 127,941
Retirement of reacquired common stock 450,000
Deemed dividend on Series B Convertible Preferred shares 2,831,830
Issuance of common stock for acquisitions 3,157,272
Issuance of note payable for acquisition 980,918
Issuance of warrants in conjunction with the sale of shares of common stock deemed to be derivative liabilities $ 11,042,057
Extinguishment of partial derivative liability $ 4,355,345
Warrants issued in exchange for derivative warrant liabilities 1,385,167
Forbearance of Ecotality accounts receivable 94,035
Accrual of contractual dividends on Series C convertible preferred stock 20,800
Warrants issued in connection with issuance of convertible note payable 79,983
Warrants reclassified to derivative liabilities $ 914,977