Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Operating Activities    
Net Loss $ (7,598,407) $ (3,275,915)
Adjustments to reconcile net loss to net cash used in operating activities:    
Foreign currency transaction loss 1,612 32,716
Gain on settlement of liabilities (50,138) (1,013,387)
Share-based compensation 202,491 86,015
Write down of deferred growing cost 3,440,904 1,183,991
Write down of long lived assets 33,715 455,824
Write down of inventory 0 130,038
Loss on sale of investment held for sale 178,896  
Depreciation and amortization 475,919 267,807
Changes in operating assets and liabilities:    
Accounts receivable (35,970)  
Inventory 87,792 (22,124)
Other current assets 123,041 73,646
Deferred growing costs   (1,564,751)
Accounts payable and accrued expenses 1,522,101 1,023,437
Deferred revenue   (152,732)
Other noncurrent assets (1,302) (41,414)
Net Cash Used in Operating Activities (1,619,346) (2,816,849)
Investing Activities    
Plantation development costs (881,221) (2,449,858)
Purchase of property and equipment (3,112) (259,978)
Proceeds from sale of property and equipment 171,254  
Net Cash Used in Investing Activities (713,079) (2,709,836)
Financing Activities    
Proceeds from issuance of common stock   250,000
Proceeds from exercise of options and warrants 55,041  
Proceeds from issuance of preferred membership in GCE Mexico I, LLC 1,598,688 5,620,435
Payments on capital leases and notes payable (47,776) (49,839)
Net Cash Provided by Financing Activities 1,605,953 5,820,596
Effect of exchange rate changes on cash 1,424 (29,112)
Net change in Cash (725,048) 264,799
Cash at Beginning of Period 941,579 676,780
Cash at End of Period 216,531 941,579
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 9,602 75,967
Noncash Investing and Financing activities:    
Accrual of return on noncontrolling interest 2,479,148 2,055,904
Intangible assets and equipment acquired 4,359,341  
Inventory acquired 123,599  
Other current assets assumed 260  
Other current liabilities assumed (2,383,100)  
Net assets acquired 2,100,100  
Notes payable issued $ (1,300,000)  
Common stock issued (800,000)