Condensed Consolidated Statements of Cash Flows - USD ($)
|
3 Months Ended |
Mar. 31, 2015 |
Mar. 31, 2014 |
| Cash flow from operating activities: |
|
|
| Net income/(loss) |
$ 16,120,739
|
$ (1,083,137)
|
| Adjustment to reconcile net income/(loss) to net cash from operations: |
|
|
| Gain on Brent-Tronics |
(17,579,887)
|
|
| Depreciation and amortization |
484,746
|
79,723
|
| Foreign exchange losses on related party loan |
436,753
|
|
| Stock based compensation |
102,750
|
|
| Changes in assets and liabilities, net of effects of acquisition |
|
|
| (Increase) decrease in inventory |
|
(3,166)
|
| (Increase) decrease in long-term contract |
|
62,500
|
| (Increase) decrease in prepaid expenses |
(37,534)
|
18,763
|
| (Increase) decrease in security deposit |
(87,730)
|
|
| (Increase) decrease in other current assets |
|
1,521
|
| Increase (decrease) in due from related party |
14,201
|
|
| Increase (decrease) in accounts payable and accruals |
(180,661)
|
399,513
|
| Net cash used in operating activities |
(726,623)
|
(524,283)
|
| Cash Flow from investing activities: |
|
|
| Purchase of fixed assets |
|
(30,299)
|
| Purchase of investments |
75
|
|
| Net cash from used in investing activities |
75
|
(30,299)
|
| Cash flow from financing activities: |
|
|
| Proceeds from private placement |
730,549
|
150,000
|
| Net cash from financing activities |
730,549
|
150,000
|
| Net increase (decrease) in cash and cash equivalents |
4,001
|
(404,582)
|
| Cash and cash equivalents, beginning of period |
19,092
|
404,927
|
| Cash and cash equivalents, end of period |
23,093
|
345
|
| Cash paid for taxes |
|
|
| Cash paid for interest |
|
|
| Supplementary Information on Non-Cash Transactions |
|
|
| Acquisition of 1,250,000 Leclanche S. A shares in exchange of Related Party Notes receivable |
5,145,000
|
|
| Stock subscriptions of 78,763,725 to Precept Fund Management for the acquisition of 9,750,000 Leclanché S.A. shares. |
$ 40,174,065
|
|