Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
|
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ (10,555,170)
|
$ (10,586,133)
|
| Adjustments to reconcile net loss to net cash (used in) provided from operating activities: |
|
|
| Depreciation and amortization |
7,391,591
|
3,505,840
|
| Interest accretion on landfill liabilities |
169,206
|
91,589
|
| Amortization of capitalized loan fees & debt discount |
390,128
|
272,461
|
| Unrealized (gain) loss on derivatives |
554,112
|
(120,000)
|
| Bad Debt Expense |
337,374
|
|
| Stock issued to vendors for services |
|
778,985
|
| Stock and Options issued to employees as incentive compensation |
70,701
|
5,572,098
|
| Gain on extinguishment of debt |
(2,654,821)
|
|
| Impairment expense |
221,146
|
1,255,269
|
| Gain on contingent liability |
|
(1,000,000)
|
| Loss on disposal of equipment |
841
|
5,158
|
| Changes in working capital items net of acquisitions: |
|
|
| Accounts receivable, net of allowance |
(1,596,593)
|
(251,954)
|
| Prepaid expenses and other current assets |
(216,759)
|
(322,813)
|
| Deposits |
|
(131,999)
|
| Accounts payable and accrued expenses |
(888,954)
|
1,286,944
|
| Deferred compensation |
(769,709)
|
(237,047)
|
| Deferred revenue |
2,312,274
|
189,130
|
| Deferred Rent |
54,149
|
|
| Deferred Tax Liability |
224,518
|
|
| Net cash (used in) provided from operating activities |
(4,955,966)
|
307,528
|
| Cash flows from investing activities: |
|
|
| Investment in CFS Group of Companies |
(3,933,276)
|
|
| Landfill additions |
(1,089,807)
|
(297,482)
|
| Acquisition of property, plant and equipment |
(1,558,891)
|
(4,047,475)
|
| Purchases of short-term investments |
1,953,969
|
(1,951,414)
|
| Cash proceeds received from post acquisition settlement |
|
245,222
|
| Proceeds from sale of property, plant and equipment |
|
46,975
|
| Net cash used in investing activities |
(4,628,005)
|
(6,004,174)
|
| Cash flows from financing activities: |
|
|
| (Repayments) on notes due related parties |
(253,000)
|
|
| Proceeds from loans |
1,669,212
|
2,150,000
|
| Cash paid for debt issuance costs |
(866,951)
|
|
| Proceeds from issuance of common stock, net of fees |
13,763,127
|
2,187,502
|
| Principal payments on capital lease |
(233,421)
|
|
| Principal payments on notes payable |
(3,034,994)
|
(131,262)
|
| Direct Financing lease |
11,481
|
|
| Net cash provided from financing activities |
11,055,454
|
4,206,240
|
| Net change in cash |
1,471,483
|
(1,490,406)
|
| Beginning cash |
824,928
|
2,729,795
|
| Ending cash |
2,296,411
|
1,239,389
|
| Supplemental Disclosures of Cash Flow Information: |
|
|
| Cash paid for interest |
3,365,270
|
2,015,540
|
| Supplemental Non-Cash Investing and Financing Information: |
|
|
| Note payable incurred for acquisition |
34,100,000
|
|
| Common stock issued for consideration in an acquisition |
1,390,000
|
|
| Retirement of Preferred Stock C and related top off provision through the issuance of Common Stock (and related derivative liability) |
1,227,065
|
|
| Property, plant and equipment additions financed with notes payable and capital leases |
6,567,590
|
|
| Deemed dividend related to beneficial conversion feature of Series C Preferred Stock |
2,115,317
|
|
| Debt issuance costs for common stock to be issued |
191,000
|
|
| Warrant cancellation |
$ 1,232,379
|
|