General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income (loss) $ (3,759,593) $ (261,646)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Provision for bad debts 4,345  
Regional developer fees recognized upon acquisition of development rights (159,500)  
Net franchise fees recognized upon termination of franchise agreements (343,250)  
Depreciation and amortization 401,098 88,885
Gain on sale of property and equipment (11,500)  
Deferred income taxes   (96,588)
Stock based compensation expense 289,499 27,922
Changes in operating assets and liabilties, net of effects from acquisitions:    
Restricted cash (57,392) (57,547)
Accounts receivable 241,646 133,543
Income taxes receivable 103,084  
Prepaid expenses and other current assets 278,730 16,025
Deferred franchise costs 5,700 28,700
Deposits and other assets (40,423) (133,274)
Accounts payable and accrued expenses 180,671 491,099
Co-op funds liability 95,253 (20,508)
Payroll liabilities 256,881 49,689
Other liabilities (23,734) 56,547
Deferred rent (36,356) 541,962
Income taxes payable   (419,297)
Deferred revenue 31,273 (186,250)
Other, net   14,556
Net cash (used in) provided by operating activities (2,543,568) 273,818
Cash flows from investing activities:    
Cash paid for acquisitions (4,242,975)  
Reacquisition and termination of regional developer rights (945,000)  
Purchase of property and equipment (485,308) (542,673)
Proceeds received on sale of property and equipment 11,500  
Payments received on notes receivable 13,559 12,771
Net cash used in investing activities (5,648,224) (529,902)
Cash flows from financing activities:    
Repayments on note payable (25,000)  
Net cash used in financing activities (25,000)  
Net decrease in cash (8,216,792) (256,084)
Cash at beginning of period 20,796,783 3,516,750
Cash at end of period 12,579,991 3,260,666
Supplemental cash flow disclosures:    
Cash paid for income taxes   $ 420,250
Cash paid for interest $ 135