Financials

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets    
Cash $ 2,103,254 $ 586,824
Accounts receivable, net of allowance for doubtful accounts of $116,794 and $101,063, respectively 645,491 389,652
Inventory 1,601,931 738,950
Prepaid and other current assets 278,038 198,056
Total Current Assets 4,628,714 1,913,482
Property and equipment, net of accumulated depreciation and amortization of $2,176,870 and $2,032,265, respectively 8,515,073 6,865,389
Deposits on acquisition 1,000,000 325,000
Intangible assets, net of accumulated amortization of $471,776 and $457,171, respectively 895,743 412,331
Security deposits 96,846 27,127
Goodwill 2,484,999 2,108,781
Total Assets 17,621,375 11,652,110
Current Liabilities    
Accounts payable 1,715,981 1,716,661
Accrued expenses 780,736 909,562
Deferred revenue and customer deposits 44,717 44,095
Capital leases, current 27,460 27,460
Note payable, net of debt discount of $138,247 and $184,204, respectively 217,586 451,754
Promissory notes payable - related party 42,458 100,000
Total Current Liabilities 2,828,938 3,249,532
Long Term Liabilities    
Note payable 520,000 520,000
Capital leases, net of current 75,840 63,839
Total Liabilities 3,424,778 3,833,371
Commitments and Contingencies
Stockholders’ Equity    
Common stock: $0.001 par; 190,000,000 shares authorized; 13,264,655 shares issued and outstanding at March 31, 2018 and 1,782,864 shares issued and outstanding at December 31, 2017 13,265 1,783
Additional paid-in-capital 81,734,640 71,852,874
Accumulated deficit (67,602,309) (64,582,868)
Total Stockholders’ Equity 14,146,596 7,272,789
Total Liabilities, Temporary Equity and Stockholders’ Equity 17,621,375 11,652,110
Series C Preferred Stock [Member]    
Long Term Liabilities    
Temporary equity, preferred stock 115,000
Series E Preferred Stock [Member]    
Long Term Liabilities    
Temporary equity, preferred stock 50,000 430,950
Series A Preferred Stock [Member]    
Stockholders’ Equity    
Preferred stock: $0.001 par; 10,000,000 shares authorized 1,000 1,000
Series B Preferred Stock [Member]    
Stockholders’ Equity    
Preferred stock: $0.001 par; 10,000,000 shares authorized

Source

v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Income Statement [Abstract]    
Revenue: $ 1,171,753 $ 871,788
Cost of Revenues 757,874 503,388
Gross Profit 413,879 368,400
Operating Expenses:    
Selling, general and administration 3,153,994 2,607,866
Research and development 1,152 98,141
Depreciation and amortization 159,211 167,338
Total Operating Expenses 3,314,357 2,873,345
Operating Loss (2,900,478) (2,504,945)
Other Income and (Expense):    
Interest (73,005) (103,080)
Amortization of debt discount (45,958)
Other (expense) income (4,554)
Change in fair value of derivative liability 831,420
Total Other Income (Expense) (118,963) 723,786
Net Loss (3,019,441) (1,781,159)
Deemed dividend 930,300
Net loss attributable to common shareholders $ (3,949,741) $ (1,781,159)
Net loss per share: Basic and Diluted $ (0.62) $ (4.51)
Weighted average common shares: Basic and Diluted 6,350,695 394,531

Source

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operations    
Net Loss $ (3,019,441) $ (1,781,159)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 159,211 167,338
Accretion of debt discount 45,958 103,080
Stock based compensation 105,075 102,905
Common stock and warrants issued for services 412,700 326,349
Provision for bad debt 50,000
Provision for slow moving spare parts 25,000
(Gain) loss on sale and disposal of property and equipment (12,597)
Change in fair value of derivative liability (831,420)
Changes in operating assets:    
Accounts receivable 76,161 (67,911)
Inventory (5,981) (133,102)
Prepaid and other current assets 263,018 (131,827)
Accounts payable (303,406) 525,622
Accrued expenses (128,826) 111,116
Deferred revenue and customer deposits 622
Net cash used in operating activities (2,394,909) (1,546,606)
Cash Flows from Investing Activities    
Cash acquired in acquisition of business 15,000
Net payments for acquisition of businesses (1,767,500)
Deposit on acquisitions (1,000,000)
Purchase of property and equipment and intangible assets (588,469) (42,948)
Security deposit (69,719)
Proceeds from sale of assets 27,787 20,100
Net cash used in investing activities (3,382,901) (22,848)
Cash Flows from Financing Activities    
Common shares issued for the exercise of warrants 750
Capital lease payments 12,001
Repayment of notes payable (280,126) (1,314)
Net proceeds on related party notes and advances 22,588
Repayment of related party notes (80,130)  
Net proceeds on issuance of series C preferred stock units, net of costs 7,619,157
Cash proceeds from exercise of warrants 7,937
Net cash provided by financing activities 7,294,240 6,623
Net increase/(decrease) in cash 1,516,430 (1,562,831)
Cash, beginning of period 586,824 1,616,410
Cash, end of period 2,103,254 53,579
Supplemental disclosure of cash flow information Cash paid during the year for:    
Interest 56,625 5,950
Noncash Transactions    
Reclassification of derivative liability to equity 427,568
Conversion of Series C Preferred Stock to common stock 1,045,300
Common shares issued for debt 57,000
Conversion of Series E Preferred Stock to common stock 380,950
GGNG Enterprises Inc [Member]    
Noncash Transactions    
Assumption of assets other than cash 540,000
Assumption of liabilities (148,719)
Green Arc Supply, L.L.C. [Member]    
Noncash Transactions    
Assumption of assets other than cash 2,398,625
Assumption of liabilities $ (154,009)

Source