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

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES:        
Net loss $ (1,165,910) $ (383,672) $ (4,509,250) $ (177,996)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 1,159,515 270,043 2,791,368 948,531
Deferred rent (2,816) 2,139 9,088 28,735
Deferred revenue (13,095) (10,682) (31,283) (9,174)
Deferred income taxes 0 (187,863) 153,364 106,988
Provision for doubtful accounts 28,239 28,348 169,299 (32,824)
Foreign exchange (gain) loss (28,689) 210,006 123,210 (196,582)
Forgiveness of advance to shareholder     0 69,208
Gain from reduction in referral fee 0 (105,523) (105,523) 0
Gain on disposal of assets     (286) (13,001)
Interest accretion on convertible promissory note 0 11,767 77,263 0
Stock-based compensation expense 126,849 0 258,878 0
Change in contingent consideration (828,762) 0 (1,811,362) 0
CastleRock settlement payment (110,000) 0    
Other 0 955 (13,234) 10,571
Changes in operating assets and liabilities:        
Accounts receivable 46,006 38,826 (2,167,193) (22,164)
Other assets (108,219) (18,520) 72,235 26,698
Accounts payable and other liabilities (400,432) 144,880 2,283,237 189,978
Net cash (used in) provided by operating activities (1,297,314) 704 (2,700,189) 928,968
INVESTING ACTIVITIES:        
Capital expenditures (83,588) (53,569) (1,116,192) (286,505)
Advances to majority shareholder 0 (1,000) (2,494) (381,721)
Repayment of advances to majority shareholder 0 1,000 2,494 227,721
Acquisitions     (11,536,638) (275,000)
Proceeds from sale of assets     0 9,214
Net cash used in investing activities (83,588) (53,569) (12,652,830) (706,291)
FINANCING ACTIVITIES:        
Proceeds from IPO of common stock, net of costs in 2014 and 2013     17,167,294 0
Proceeds from note payable to related party     165,000 1,000,000
Repayments of note payable to related party     (430,591) (115,319)
Repayments of notes payable - other (254,827) (340,880) (1,222,884) (912,642)
Proceeds from line of credit 3,435,000 1,485,000 5,725,446 4,907,985
Repayments of line of credit (1,650,000) (1,285,000) (5,525,446) (4,464,297)
Proceeds from notes payable - convertible note     0 500,000
IPO-related costs 0 (14,508) 0 (882,725)
Net cash provided by (used in) financing activities 1,530,173 (155,388) 15,878,819 33,002
EFFECT OF EXCHANGE RATE CHANGES ON CASH (11,988) 16,813 24,916 (26,058)
NET INCREASE (DECREASE) IN CASH 137,283 (191,440) 550,716 229,621
CASH - Beginning of the period 1,048,660 497,944 497,944 268,323
CASH - End of period 1,185,943 306,504 1,048,660 497,944
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES:        
Acquisition through issuance of promissory note     0 1,225,000
Contingent consideration resulting from acquisitions     4,437,685 0
Equity resulting from acquisitions     1,601,677 0
Conversion of note to common stock     587,835 0
Financed assets     78,421 6,419
Purchase of prepaid insurance through assumption of note 0 36,640 486,858 0
Accrued IPO-related costs 0 227,750 0 430,125
SUPPLEMENTAL INFORMATION - Cash paid during the year for:        
Income taxes 9,759 5,230 5,230 22,000
Interest $ 75,576 $ 82,600 $ 147,192 $ 155,433