Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES    
Net loss $ (1,311,951)us-gaap_NetIncomeLoss $ (2,300,196)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 933,600us-gaap_DepreciationAndAmortization 767,254us-gaap_DepreciationAndAmortization
Amortization of debt discount 589,474us-gaap_AmortizationOfDebtDiscountPremium 210,526us-gaap_AmortizationOfDebtDiscountPremium
Stock issued pursuant to employment agreement 42,125canv_StockIssuedPursuantToEmploymentAgreement 5,650canv_StockIssuedPursuantToEmploymentAgreement
Stock-based compensation 7,915,833us-gaap_ShareBasedCompensation 0us-gaap_ShareBasedCompensation
Loss on equity investment 38,552us-gaap_IncomeLossFromEquityMethodInvestments 310,754us-gaap_IncomeLossFromEquityMethodInvestments
Gain on sale of equity investment (7,899,306)us-gaap_GainLossOnSaleOfEquityInvestments 0us-gaap_GainLossOnSaleOfEquityInvestments
Bad debt expense (300,000)us-gaap_ProvisionForDoubtfulAccounts 400,000us-gaap_ProvisionForDoubtfulAccounts
Other 34,816us-gaap_IncreaseDecreaseInOtherOperatingAssets 0us-gaap_IncreaseDecreaseInOtherOperatingAssets
Change in operating assets and liabilities:    
Accounts receivable 1,205,952us-gaap_IncreaseDecreaseInAccountsReceivable (1,744,064)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid inventory 1,215,211us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (474,321)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Inventory (9,192,929)us-gaap_IncreaseDecreaseInInventories (2,127,845)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets (352,787)us-gaap_IncreaseDecreaseInPrepaidExpense (174,317)us-gaap_IncreaseDecreaseInPrepaidExpense
Accounts payable 190,859us-gaap_IncreaseDecreaseInAccountsPayable 24,622us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses 178,552us-gaap_IncreaseDecreaseInOtherAccruedLiabilities 222,703us-gaap_IncreaseDecreaseInOtherAccruedLiabilities
Net cash flows used in operating activities (6,711,999)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (4,879,234)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
INVESTING ACTIVITIES    
Cash received on acquisition 0us-gaap_CashAcquiredFromAcquisition 50,775us-gaap_CashAcquiredFromAcquisition
Purchase of equipment (449,211)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (226,594)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Cash paid on PhytoSPHERE agreement 0us-gaap_PaymentsForProceedsFromLongtermInvestments (950,000)us-gaap_PaymentsForProceedsFromLongtermInvestments
Investment in KanaLife Sciences 0us-gaap_PaymentsToAcquireEquityMethodInvestments (750,000)us-gaap_PaymentsToAcquireEquityMethodInvestments
Issuance of note receivable (1,200,000)us-gaap_PaymentsToAcquireNotesReceivable 0us-gaap_PaymentsToAcquireNotesReceivable
Repayment of principal on Dixie note receivable 264,827canv_RepaymentOfPrincipalOnNoteReceivable 0canv_RepaymentOfPrincipalOnNoteReceivable
Net cash flows from investing activities (1,384,384)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (1,875,819)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
FINANCING ACTIVITIES    
Common stock issued for cash 8,247,500us-gaap_ProceedsFromIssuanceOfCommonStock 2,731,423us-gaap_ProceedsFromIssuanceOfCommonStock
Proceeds from loan from Roen Ventures, LLC 0us-gaap_ProceedsFromNotesPayable 6,192,069us-gaap_ProceedsFromNotesPayable
Repayment of loan to Roen Ventures, LLC (92,069)us-gaap_RepaymentsOfNotesPayable (100,000)us-gaap_RepaymentsOfNotesPayable
Common stock to be issued 0canv_CommonStockToBeIssuedCashFlow 175,000canv_CommonStockToBeIssuedCashFlow
Repayment of loan from related party (300)us-gaap_RepaymentsOfRelatedPartyDebt (200)us-gaap_RepaymentsOfRelatedPartyDebt
Net cash flows from financing activities 8,155,131us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 8,998,292us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net increase in cash 58,748us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 2,243,239us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash, beginning of year 2,243,670us-gaap_CashAndCashEquivalentsAtCarryingValue 431us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash, end of year 2,302,418us-gaap_CashAndCashEquivalentsAtCarryingValue 2,243,670us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosures of non-cash transactions:    
Value of debt discount 0canv_ValueOfDebtDiscount 800,000canv_ValueOfDebtDiscount
Accounts receivable assumed from acquisition 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables 396,438us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
Inventory assumed from acquisition 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory 345,477us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
Prepaid inventory assumed from acquisition 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets 1,260,510us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
Property and equipment assumed from acquisition 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment 1,288us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
Goodwill 0canv_GoodwillNonCashTransaction 1,855,512canv_GoodwillNonCashTransaction
Intangible assets acquired from acquisition 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets 4,110,000us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets
Amount due to PhytoSPHERE Agreement 0canv_AmountDueToPhytosphereAgreement (1,314,878)canv_AmountDueToPhytosphereAgreement
Common Shares issued for acquisition 0us-gaap_StockIssuedDuringPeriodValueAcquisitions 7,070,000us-gaap_StockIssuedDuringPeriodValueAcquisitions
Conversion of Line of credit - Roen Ventures, LLC to common stock 6,000,000canv_ConversionOfLineOfCreditRoenVenturesLlcToCommonStock 0canv_ConversionOfLineOfCreditRoenVenturesLlcToCommonStock
Conversion of accounts receivable to note receivable (600,000)canv_ConversionOfAccountsReceivableToNoteReceivable 0canv_ConversionOfAccountsReceivableToNoteReceivable
Common stock to be issued (175,000)canv_CommonStockToBeIssuedOther 0canv_CommonStockToBeIssuedOther
Common stock received in exchange for sale of investment 8,300,000canv_CommonStockReceivedInExchangeForSaleOfInvestment 0canv_CommonStockReceivedInExchangeForSaleOfInvestment
Supplemental cash flow disclosures:    
Interest paid 187,453us-gaap_InterestPaid 0us-gaap_InterestPaid
Income taxes paid $ 0us-gaap_IncomeTaxesPaid $ 0us-gaap_IncomeTaxesPaid