Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERTING ACTIVITIES:    
Net loss $ (10,972,565) $ (7,863,477)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,846,363 761,370
Amortization of discount on convertible notes payable 0 126,783
Gain on change in fair value of derivative warrant liability (536,054) 0
Non-cash compensation:      
Common stock issued for services and compensation 0 1,837,881
Warrants and options issued for services, compensation and fees 2,415,131 3,307,423
Provision for loss on advanced commissions 4,500 0
(Gain) loss on settlement of accounts payable for common stock and cash (21,000) 47,856
Loss on repayment of convertible notes payable 0 46,701
(Gain) loss on change in fair value of warrants payable 968,200 0
Impairment of goodwill 3,299,379   
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (163,849) 0
Inventory (241,949) 0
Advanced commissions (9,000) (48,500)
Prepaid expenses and other current assets 42,200 (24,734)
Deposits (3,546) 0
Other assets (40,824) (24,600)
Accounts payable and accrued expenses 95,805 (261,719)
Deferred revenue 616,678 919,091
Deferred rent (6,004) (4,101)
Accrued interest -related party 0 (5)
Net Cash Used in by Operating Activities: (4,642,935) (993,031)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of accounts receivable 0 (163,292)
Purchase of automobile (137,165) 0
Purchase of electric charging stations (535,374) (905,502)
Cash paid for acquisitions net of cash acquired 0 9,354
Net Cash Used in Investing Activities (672,539) (1,059,440)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of notes payable 0 145,000
Proceeds from stock subscription payable 0 525,000
Sale of common stock, net of issuance cost 0 2,208,000
Restricted cash as security deposit for space rental (210,585)   
Payment of notes and convertible notes payable (31,274) (673,780)
Net Cash Provided by(Used in) Financing Activities (241,859) 2,204,220
NET INCREASE(DECREASE) IN CASH (5,557,333) 151,749
CASH AT THE BEGINNING OF THE PERIOD 7,837,339 13,416
CASH AT END OF PERIOD 2,280,006 165,165
Cash Paid For:    
Interest expense 1,020 8,735
Income taxes 0 0
NONCASH INVESTING AND FINANCING ACTIVITIES    
Issuance of common stock issued in exchange for conversion of warrants 469 0
Issuance of warrants in consideration of equity investment    1,195,888
Common stock issued for settlement of accounts payable 4,999 231,331
Issuance of common stock for services previously accrued 137,000 0
Purchase of software development for common stock 0 150,000
Software development costs reclassified from other assets to prepaid and other current assets 150,000 0
Issuance of common stock for acquisitions 0 3,750,000
Issuance of note payable acquisitions 0 1,005,918
Partial extinguishment of derivative liability 4,126,521 0
Warrants issued in exchange for derivative warrant $ 1,385,167 $ 0