| Reclassified financial statement |
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Fiscal Quarter Ended December 31, 2016 |
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As |
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Previously |
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Reported |
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Change |
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(Restated) |
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| Consolidated balance sheet as of December 31, 2016 |
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| Trade receivables, net |
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$ |
8,351,502 |
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$ |
(764,763 |
) |
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$ |
7,586,739 |
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| Prepaid expenses and other current assets |
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3,930,027 |
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764,763 |
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4,694,790 |
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| Total assets |
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120,337,967 |
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– |
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120,337,967 |
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| Current portion of long- term debt |
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6,226,454 |
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14,278,689 |
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20,505,143 |
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| Long-term debt, net of current portion |
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67,287,070 |
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(14,278,689 |
) |
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53,008,381 |
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| Total liabilities |
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91,328,118 |
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91,328,118 |
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| Paid in capital |
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56,705,679 |
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6,249,254 |
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62,954,933 |
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| Accumulated deficit |
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(27,408,969 |
) |
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(6,238,516 |
) |
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(33,647,485 |
) |
| Series E convertible preferred stock |
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10,866 |
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(10,738 |
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128 |
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| Total shareholders' equity |
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29,009,849 |
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– |
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29,009,849 |
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| Consolidated statement of cash flows for the three months ended December 31, 2016 |
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| Change in accounts receivable |
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96,733 |
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32,726 |
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129,459 |
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| Change in prepaid expenses and other current liabilities |
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1,990,407 |
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(1,849,581 |
) |
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140,826 |
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| Net cash provided by operations |
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4,994,685 |
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(1,816,855 |
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3,177,830 |
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| Acquisition of business, net of cash acquired |
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(57,310,900 |
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10,000,000 |
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(47,310,900 |
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| Purchases of property and equipment |
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(4,869,153 |
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1,816,855 |
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(3,052,298 |
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| Net cash used in investing activities |
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(62,180,053 |
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11,816,855 |
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(50,363,198 |
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| Proceeds from issuance of notes payable |
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45,889,321 |
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(10,000,000 |
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35,889,321 |
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| Net cash provided by financing activities |
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58,001,226 |
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(10,000,000 |
) |
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48,001,226 |
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