Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

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ACQUISITIONS (Tables)
 9 Months Ended
Sep. 30, 2021
Asset Acquisition [Line Items]  
SCHEDULE OF BUSINESS ACQUISITION, PRO FORMA INFORMATION

 

    2021     2020     2021     2020  
    Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
    2021     2020     2021     2020  
    ($ in thousands except per share amounts)  
Total revenue   $ 38,304   $ 35,051     $ 119,929     $ 101,318  
Net income (loss)   $ 2,211     $ (1,112 )   $ 1,593   $ (12,823 )
Net loss attributable to common shareholders   $ (1,431 )   $ (5,434 )   $ (8,815 )   $ (23,680 )
Net loss per common share   $ (0.10 )   $ (0.43 )   $ (0.61 )   $ (1.90 )
Acqisition 2021 [Member] | Meridian Billing Management Co [Member]  
Asset Acquisition [Line Items]  
SUMMARY OF TOTAL CONSIDERATION ON BUSINESS CONSIDERATION

A summary of the total consideration is as follows:

 

medSR Purchase Price

    ($ in thousands)  
Cash   $ 12,261  
Amounts held in escrow     1,571  
Contingent consideration     6,500  
Total purchase price   $ 20,332  
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

The preliminary purchase price allocation for medSR is summarized as follows:

 

    ($ in thousands)  
Accounts receivable   $ 2,705  
Receivable from seller     396  
Prepaid expenses     108  
Unbilled receivables     2,402  
Property and equipment     94  
Customer relationships     4,500  
Acquired backlog     500  
Goodwill     11,406  
Accounts payable     (536 )
Accrued expenses & compensation     (1,223 )
Deferred revenue     (20 )
Total preliminary purchase price allocation   $ 20,332  
Acqisition 2020 [Member] | Meridian Billing Management Co [Member]  
Asset Acquisition [Line Items]  
SUMMARY OF TOTAL CONSIDERATION ON BUSINESS CONSIDERATION

A summary of the total consideration is as follows:

 

Meridian Purchase Price

    ($ in thousands)  
Cash   $ 11,864  
Preferred stock     5,000  
Warrants     4,770  
Total purchase price   $ 21,634  

SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

 

    ($ in thousands)  
Accounts receivable   $ 3,558  
Prepaid expenses     704  
Contract asset     881  
Property and equipment     426  
Operating lease right-of-use assets     2,776  
Customer relationships     12,900  
Technology     900  
Goodwill     13,789  
Accounts payable     (3,373 )
Accrued expenses & compensation     (3,932 )
Deferred revenue     (907 )
Operating lease liabilities     (6,025 )
Other current liabilities     (63 )
Total purchase price allocation   $ 21,634  
Acqisition 2020 [Member] | Care Cloud Health Inc [Member]  
Asset Acquisition [Line Items]  
SUMMARY OF TOTAL CONSIDERATION ON BUSINESS CONSIDERATION

A summary of the total consideration is as follows:

 

CCH Purchase Price

    ($ in thousands)  
Cash   $ 11,853  
Preferred stock     19,000  
Warrants     300  
Contingent consideration     1,000  
Total purchase price   $ 32,153  
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

 

    ($ in thousands)  
Accounts receivable   $ 2,299  
Prepaid expenses     1,278  
Contract asset     538  
Property and equipment     403  
Operating lease right-of-use assets     2,859  
Customer relationships     8,000  
Trademark     800  
Software     4,800  
Goodwill     22,868  
Other long term assets     540  
Accounts payable     (6,943 )
Accrued expenses     (2,081 )
Current loan payable     (80 )
Operating lease liabilities     (2,859 )
Deferred revenue     (269 )
Total purchase price allocation   $ 32,153