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

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES        
Net loss $ (2,648,809) $ (118,416) $ (1,311,951) $ (2,300,196)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 249,725 217,306 933,600 767,254
Amortization of debt discount 0 589,474 589,474 210,526
Stock issued pursuant to employment agreement 0 2,825 42,125 5,650
Stock-based compensation 1,755,994 0 7,915,833 0
Loss on equity investment 0 38,552 38,552 310,754
Interest on notes receivable (31,562) 0 0 0
Gain on sale of equity investment 0 0 (7,899,306) 0
Bad debt expense 0 0 (300,000) 400,000
Other 0 0 34,816 0
Change in operating assets and liabilities:        
Prepaid expenses and other current assets (36,897) (114,513) (352,787) (174,317)
Prepaid inventory (1,809,379) (786,116) 1,215,211 (474,321)
Inventory 885,796 81,332 (9,192,929) (2,127,845)
Accounts receivable (934,150) (825,227) 1,205,952 (1,744,064)
Accounts payable and accrued expenses (13,569) 22,658 190,859 24,622
Accrued expenses 0 0 178,552 222,703
Net cash used in operating activities (2,582,851) (892,125) (6,711,999) (4,879,234)
INVESTING ACTIVITIES        
Cash received on acquisition 0 0 0 50,775
Purchase of equipment (74,698) (9,295) (449,211) (226,594)
Cash paid on PhytoSPHERE agreement 0 0 0 (950,000)
Investment in KanaLife Sciences 0 0 0 (750,000)
Issuance of note receivable 0 0 (1,200,000) 0
Repayment of principal on notes receivable 75,117 47,300 264,827 0
Net cash provided by investing activities 419 38,005 (1,384,384) (1,875,819)
FINANCING ACTIVITIES        
Common stock issued for cash 2,520,000 7,075,000 8,247,500 2,731,423
Proceeds from loan from Roen Ventures, LLC 0 0 0 6,192,069
Payments on Roen Ventures loan 0 (92,069) (92,069) (100,000)
Common stock to be issued 0 0 0 175,000
Repayment of related party loan 0 (300) (300) (200)
Net cash provided by financing activities 2,520,000 6,982,631 8,155,131 8,998,292
Net (decrease) increase in cash (62,432) 6,128,511 58,748 2,243,239
Cash, beginning of period 2,302,418 2,243,670 2,243,670 431
Cash, end of period 2,239,986 8,372,181 2,302,418 2,243,670
Supplemental disclosure of non-cash transactions:        
Value of debt discount 0 0 0 800,000
Accounts receivable assumed from acquisition 0 0 0 396,438
Inventory assumed from acquisition 0 0 0 345,477
Prepaid inventory assumed from acquisition 0 0 0 1,260,510
Property and equipment assumed from acquisition 0 0 0 1,288
Goodwill 0 0 0 1,855,512
Intangible assets acquired from acquisition 0 0 0 4,110,000
Amount due to PhytoSPHERE Agreement 0 0 0 (1,314,878)
Common Shares issued for acquisition 0 0 0 7,070,000
Conversion of Line of credit - Roen Ventures, LLC to common stock 0 0 6,000,000 0
Common stock issued for future underwriting services (87,600) 0 0 0
Conversion of accounts receivable to notes receivable 0 6,000,000 (600,000) 0
Conversion of line of credit to common stock 0 (600,000) 0 0
Common stock to be issued 0 (175,000) (175,000) 0
Common stock received in exchange for sale of investment 0 0 8,300,000 0
Supplemental cash flow disclosures:        
Interest paid 0 187,453 187,453 0
Taxes paid $ 16,091 $ 0 $ 0 $ 0