2016 Q1 Form 10-Q Financial Statement

#000114420416082296 Filed on February 16, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q1
Revenue $11.80M $10.66M $9.600M
YoY Change 22.92% 39.48% 310.87%
Cost Of Revenue $9.700M $8.464M $6.600M
YoY Change 46.97% 38.97% 221.81%
Gross Profit $2.100M $2.196M $3.000M
YoY Change -30.0% 41.49% 950.39%
Gross Profit Margin 17.8% 20.6% 31.25%
Selling, General & Admin $5.800M $3.500M $2.900M
YoY Change 100.0% 20.69% 163.64%
% of Gross Profit 276.19% 159.37% 96.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $145.6K -$70.00K
YoY Change -185.71% -24.97% -1314.22%
% of Gross Profit 2.86% 6.63% -2.33%
Operating Expenses $5.800M $12.12M $2.800M
YoY Change 107.14% 32.1% -2.9%
Operating Profit -$3.700M -$1.459M $200.0K
YoY Change -1950.0% -4.7% -136.56%
Interest Expense -$700.0K $101.0K $0.00
YoY Change -72.18% -100.0%
% of Operating Profit 0.0%
Other Income/Expense, Net $300.0K -$37.30K $0.00
YoY Change -134.49% -100.0%
Pretax Income -$4.100M -$1.497M $100.0K
YoY Change -4200.0% 5.16% -114.23%
Income Tax $0.00 $36.20K $100.0K
% Of Pretax Income 100.0%
Net Earnings -$4.600M -$1.686M $200.0K
YoY Change -2400.0% -0.35% -126.09%
Net Earnings / Revenue -38.98% -15.81% 2.08%
Basic Earnings Per Share -$0.31
Diluted Earnings Per Share -$793.1K -$0.31 $40.82K
COMMON SHARES
Basic Shares Outstanding 5.738M shares 5.366M shares 48.63M shares
Diluted Shares Outstanding 5.366M shares

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.300M $4.600M $5.000M
YoY Change 86.0% -34.29% -63.4%
Cash & Equivalents $9.270M $59.01M $5.014M
Short-Term Investments
Other Short-Term Assets $300.0K $400.0K $800.0K
YoY Change -62.5% 300.0% 300.0%
Inventory
Prepaid Expenses $350.1K $278.9K
Receivables $3.393M $3.655M $3.802M
Other Receivables $600.0K $500.0K $200.0K
Total Short-Term Assets $13.56M $9.193M $9.853M
YoY Change 37.61% -14.09% 17.21%
LONG-TERM ASSETS
Property, Plant & Equipment $1.248M $1.220M $582.5K
YoY Change 114.26% 103.31% 513.46%
Goodwill $1.622M $100.9M $2.169M
YoY Change -25.19% 338.41%
Intangibles $2.353M $1.237M $1.377M
YoY Change 70.86% 0.0%
Long-Term Investments
YoY Change
Other Assets $216.4K $219.6K $218.7K
YoY Change -1.04% -56.07% 465.44%
Total Long-Term Assets $6.008M $5.375M $5.142M
YoY Change 16.84% 25.0% 377.35%
TOTAL ASSETS
Total Short-Term Assets $13.56M $9.193M $9.853M
Total Long-Term Assets $6.008M $5.375M $5.142M
Total Assets $19.57M $14.57M $15.00M
YoY Change 30.49% -2.88% 58.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.600M $3.700M $3.300M
YoY Change 39.39% 42.31% 560.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $200.0K $0.00 $0.00
YoY Change
Long-Term Debt Due $200.0K $1.200M $1.400M
YoY Change -85.71% -25.0% -56.25%
Total Short-Term Liabilities $7.432M $6.834M $5.966M
YoY Change 24.57% 8.48% 157.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $7.700M
YoY Change -100.0% -100.0% 600.0%
Other Long-Term Liabilities $3.500M $2.800M $2.200M
YoY Change 59.09% -65.0% -8.33%
Total Long-Term Liabilities $3.500M $2.800M $9.900M
YoY Change -64.65% -72.0% 182.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.432M $6.834M $5.966M
Total Long-Term Liabilities $3.500M $2.800M $9.900M
Total Liabilities $11.02M $9.784M $15.99M
YoY Change -31.09% -40.68% 43.93%
SHAREHOLDERS EQUITY
Retained Earnings -$28.68M -$24.04M -$19.34M
YoY Change 48.31% 31.07% 10.28%
Common Stock $5.876K $5.463K $4.863K
YoY Change 20.83% -88.77% -1.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.269M -$4.616M -$2.818M
YoY Change
Total Liabilities & Shareholders Equity $19.57M $14.57M $15.00M
YoY Change 30.49% -3.03% 58.12%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q1
OPERATING ACTIVITIES
Net Income -$4.600M -$1.686M $200.0K
YoY Change -2400.0% -0.35% -126.09%
Depreciation, Depletion And Amortization $60.00K $145.6K -$70.00K
YoY Change -185.71% -24.97% -1314.22%
Cash From Operating Activities -$10.00K -$1.500M -$920.0K
YoY Change -98.91% -154.15% 67.27%
INVESTING ACTIVITIES
Capital Expenditures -$90.00K -$130.0K $0.00
YoY Change 550.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $20.00K $0.00 -$520.0K
YoY Change -103.85% -100.0% 246.67%
Cash From Investing Activities -$80.00K -$130.0K -$530.0K
YoY Change -84.91% -81.69% 231.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.710M 2.350M -480.0K
YoY Change -1081.25% 150.0% -141.74%
NET CHANGE
Cash From Operating Activities -10.00K -1.500M -920.0K
Cash From Investing Activities -80.00K -130.0K -530.0K
Cash From Financing Activities 4.710M 2.350M -480.0K
Net Change In Cash 4.620M 720.0K -1.930M
YoY Change -339.38% -76.0% -538.64%
FREE CASH FLOW
Cash From Operating Activities -$10.00K -$1.500M -$920.0K
Capital Expenditures -$90.00K -$130.0K $0.00
Free Cash Flow $80.00K -$1.370M -$920.0K
YoY Change -108.7% -149.1% 63.63%

Facts In Submission

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RiskPoolSettlementPayment
0 USD
CY2015Q2 us-gaap Deferred Finance Costs Noncurrent Net
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250030 USD
CY2015Q2 ameh Notes And Lines Of Credit Payable Current
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7388756 USD
CY2015Q2 us-gaap Derivative Liabilities Current
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CY2015Q2 us-gaap Interest Expense
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CY2015Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
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382130 USD
us-gaap Cash Acquired From Acquisition
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692158 USD
ameh Finite Lived Intangible Assets Accumulated Amortization Addition
FiniteLivedIntangibleAssetsAccumulatedAmortizationAddition
141000 USD
CY2014Q4 ameh Finite Lived Intangible Assets Accumulated Amortization Addition
FiniteLivedIntangibleAssetsAccumulatedAmortizationAddition
110000 USD
CY2015Q4 ameh Finite Lived Intangible Assets Accumulated Amortization Addition
FiniteLivedIntangibleAssetsAccumulatedAmortizationAddition
47000 USD
ameh Finite Lived Intangible Assets Accumulated Amortization Addition
FiniteLivedIntangibleAssetsAccumulatedAmortizationAddition
241000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
185001 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
146538 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
114658 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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39883 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
532622 USD
CY2015Q1 us-gaap Accounts Payable Current And Noncurrent
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1377817 USD
CY2015Q4 us-gaap Other Accrued Liabilities Current
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62000 USD
CY2015Q1 us-gaap Other Accrued Liabilities Current
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62000 USD
CY2015Q1 us-gaap Workers Compensation Liability Current
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1469132 USD
CY2015Q1 us-gaap Accrued Income Taxes
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185051 USD
CY2015Q1 us-gaap Interest Payable Current
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55529 USD
CY2015Q4 us-gaap Accrued Professional Fees Current
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141808 USD
CY2015Q1 us-gaap Accrued Professional Fees Current
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202675 USD
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
12222 shares
CY2015 ameh Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Weighted Average Remaining Vesting Life
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedWeightedAverageRemainingVestingLife
P3M18D
CY2015Q1 ameh Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Weighted Average Per Share Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedWeightedAveragePerShareIntrinsicValue
0.5
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
4.1
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0 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
12222 shares
ameh Share Based Compensation Arrangement By Share Based Payment Award Options Vested Number Of Shares Weighted Average Remaining Vesting Life
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedNumberOfSharesWeightedAverageRemainingVestingLife
P0Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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776500 shares
ameh Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Weighted Average Remaining Vesting Life
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedWeightedAverageRemainingVestingLife
P0Y
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0 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedForfeitedNumberOfSharesWeightedAverageRemainingVestingLife
P0Y
ameh Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Forfeited Weighted Average Per Share Instrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedForfeitedWeightedAveragePerShareInstrinsicValue
0
CY2015Q4 ameh Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Weighted Average Per Share Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedWeightedAveragePerShareIntrinsicValue
0
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
86500 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
690000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
619181 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.69
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.35
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.67
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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1.5
CY2015Q4 ameh Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageIntrinsicValue
2.57
CY2015Q4 ameh Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Per Share Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAveragePerShareIntrinsicValue
2.86
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
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3752004 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
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0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
0 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
3752004 shares
ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermGranted
P0Y
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Sharebasedcompensationarrangementbysharebasedpaymentawardnonoptionequityinstrumentsoutstandingweightedaverageremainingcontractualtermreleased
P0Y
CY2015Q1 ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingAggregateIntrinsicValue
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ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted In Period Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedInPeriodAggregateIntrinsicValue
0
ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Released In Period Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsReleasedInPeriodAggregateIntrinsicValue
0
CY2015Q1 ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageFairValue
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ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted In Period Weighted Average Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedInPeriodWeightedAverageFairValue
0
ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Released In Period Weighted Average Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsReleasedInPeriodWeightedAverageFairValue
0
CY2015 ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermBeginning
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ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermBeginning
P0Y
CY2015Q4 ameh Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageFairValue
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CY2015Q1 ameh Class Of Warrant Or Right Outstanding Intrinsic Value
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ameh Class Of Warrant Or Right Granted Intrinsic Value
ClassOfWarrantOrRightGrantedIntrinsicValue
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ameh Class Of Warrant Or Right Exercised
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ameh Class Of Warrant Or Right Cancelled
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ameh Number Of Warrants Granted
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1111111 shares
ameh Number Of Warrants Exercised
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CY2015Q4 us-gaap Class Of Warrant Or Right Outstanding
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CY2015Q4 ameh Class Of Warrant Or Right Outstanding Intrinsic Value
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1.94
CY2015Q4 ameh Common Stock Issuable Upon Conversion Of Convertible Nine Senior Notes
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CY2015Q4 us-gaap Common Stock Shares Authorized
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CY2015Q4 us-gaap Stockholders Equity
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CY2015Q1 us-gaap Stockholders Equity
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us-gaap Provision For Doubtful Accounts
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us-gaap Marketable Securities Gain Loss
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us-gaap Marketable Securities Gain Loss
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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438884 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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CY2015Q4 us-gaap Common Stock Shares Outstanding
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CY2015Q1 us-gaap Common Stock Shares Outstanding
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us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <strong><font style="FONT-SIZE: 10pt">Use of Estimates</font></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ materially from these estimates under different assumptions or conditions.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q1 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
2586854 USD
CY2015Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
980092 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6336249 shares
CY2015Q4 ameh Percentage Of Interest Rate For Certificates
PercentageOfInterestRateForCertificates
0.0015 pure
us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
20000 USD
CY2015Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
514000 USD
CY2015Q4 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
8
CY2015Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
1513400 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
276778 USD
CY2015Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
1513400 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
136143 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
46542 USD
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3712500 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
10000000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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Non-receipt of &#8220;all or nothing&#8221; annual payments from the MSSP, as occurred during fiscal 2016, will adversely impact the liquidity of the Company.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">On October 14, 2015, the Company entered into a Securities Purchase Agreement (the &#8220;Agreement&#8221;) with Network Medical Management, Inc. (&#8220;NMM&#8221;), pursuant to which the Company sold to NMM, and NMM purchased from the Company, in a private offering of securities, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,111,111</font> investment units (the &#8220;Units&#8221;), each Unit consisting of one share of the Company&#8217;s Series A Preferred Stock (the &#8220;Preferred Stock&#8221;) and a stock purchase warrant (the &#8220;Warrant&#8221;) to purchase one share of the Company&#8217;s common stock (the &#8220;Common Stock&#8221;) at an exercise price of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">9.00</font> per share. NMM paid the Company an aggregate $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10,000,000</font> for the Units, the proceeds of which were used by the Company primarily to repay certain outstanding indebtedness owed by the Company to NNA of Nevada, Inc. under a term loan and revolving credit facility in the then-outstanding aggregate amount of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">7,304,506</font>, consisting of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">7,282,500</font> principal plus $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">22,006</font> of accrued interest, and the balance of which was used for working capital purposes (see Note 9).</font></div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Management&#160;is uncertain whether ongoing requirements for working capital, debt service and planned capital expenditures will be adequately funded from current sources for at least the next twelve months. Furthermore, the Company may need to obtain additional financing or reduce its cost of operations to meet its ongoing liquidity requirements and there is no assurance that the Company will be successful in doing so.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

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