CareCloud, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2014

Metro Medical Management Services, Inc. [Member]

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Cash paid on date of acquisition		$	275,000
Promissory note payable to Metro Medical			1,225,000
Total purchase consideration		$	1,500,000

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The results of the valuation are presented below:

Customer contracts and relationships		$	904,000
Non-compete agreement			252,000
Goodwill			344,000
		$	1,500,000

Business Acquisition, Pro Forma Information [Table Text Block]

		For the year ended December 31,
		2014			2013
Total revenue		$	29,215,097		$	28,423,215
Net loss		$	(6,853,392)		$	(5,660,681)
Net loss per share		$	(0.97)		$	(1.11)

Acquired Businesses [Member]

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the final purchase price consideration and the allocation of the purchase price to the net assets acquired:

														Contingent
		Common Stock									Acquired			Consideration			Total
		Shares			Value			Cash			Backlog			Adjustment			Consideration
		(in thousands)
Omni			1,049		$	4,079		$	6,655		$	103		$	(329)		$	10,508
Practicare			293			1,137			2,394			17			(242)			3,306
CastleRock			359			1,395			2,339			28			-			3,762
Total			1,701		$	6,611		$	11,388		$	148		$	(571)		$	17,576

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The results of the valuation analysis are presented below:

Customer contracts and relationships		$	8,225,000
Non-compete agreements			925,000
Tangible assets			61,256
Acquired backlog			148,408
Goodwill			8,216,336
Total purchase consideration		$	17,576,000