|
Consolidated Statements of Cash Flows (Unaudited) (USD $)
|
6 Months Ended |
9 Months Ended |
3 Months Ended |
|
Sep. 30, 2013
Successor [Member]
|
Sep. 30, 2014
Successor [Member]
|
Apr. 19, 2013
Predecessor [Member]
|
| Cash flows from operating activities: |
|
|
|
| Net income (loss) |
$ (11,436,761) |
$ (46,022,046) |
$ (2,553,556) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
|
| Depreciation and amortization |
2,971,620 |
5,398,978 |
140,293 |
| Change in warrant liability |
1,829,333 |
(182,889) |
|
| Impairment of intangible assets and goodwill |
|
24,421,849 |
|
| Stock-based compensation |
557,641 |
1,483,214 |
|
| Non-cash treasury stock |
|
(480,000) |
|
| Non-cash loan origination fees |
249,650 |
171,483 |
|
| Non-cash consulting fees |
80,000 |
384,750 |
|
| Non-cash directors’ fees |
|
116,464 |
|
| Interest capitalized as debt |
135,000 |
|
|
| Deferred tax (benefit) |
|
(212,029) |
(12,294) |
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
(2,608,668) |
11,166,670 |
2,846,332 |
| Inventory |
(295,315) |
1,713,337 |
(488,722) |
| Other current assets |
(188,155) |
31,056 |
(154,529) |
| Other assets, net |
(34,994) |
10,929 |
12,572 |
| Accounts payable |
(159,338) |
(3,236,706) |
(2,978,808) |
| Accrued liabilities |
(1,435,808) |
2,110,418 |
(767,991) |
| Deferred revenue |
378,732 |
(1,667,397) |
(372,579) |
| Net cash provided by (used in) operating activities |
(9,957,063) |
(4,791,919) |
(4,329,282) |
| Cash flows from investing activities: |
|
|
|
| Acquisition of Symon Holdings Corporation |
(209,079) |
|
|
| Purchases of property and equipment |
(775,055) |
(2,299,624) |
(86,470) |
| Net cash provided by (used in) investing activities |
(984,134) |
(2,299,624) |
(86,470) |
| Cash flows from financing activities: |
|
|
|
| Proceeds from debt |
|
4,000,000 |
|
| Proceeds from stock |
39,115,785 |
|
|
| Repayment of debt |
(10,943,590) |
|
|
| Net cash provided by (used in) financing activities |
28,172,195 |
4,000,000 |
|
| Effect of exchange rate changes on cash |
230,758 |
(98,204) |
(121,144) |
| Net increase (decrease) in cash and cash equivalents |
17,461,756 |
(3,189,747) |
(4,536,896) |
| Cash and cash equivalents, beginning of period |
10,824,943 |
8,235,566 |
10,203,169 |
| Cash and cash equivalents, end of period |
28,286,699 |
5,045,819 |
5,666,273 |
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash paid during the year for interest |
1,247,465 |
1,114,699 |
2,053 |
| Cash paid during the year for income taxes |
|
$ 68,670 |
$ 150,000 |