Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

v2.4.1.9
ACQUISITIONS (Tables)
9 Months Ended
Sep. 30, 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]
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
September 30,
 
September 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2014
 
2013
 
2014
 
2013
 
Total revenue
 
$
7,359,464
 
$
7,622,033
 
$
22,110,379
 
$
22,357,301
 
Net (loss)
 
$
(2,351,144)
 
$
(1,629,098)
 
$
(4,821,622)
 
$
(6,011,913)
 
Net (loss) per share
 
$
(0.28)
 
$
(0.32)
 
$
(0.78)
 
$
(1.18)
 
Acquired Businesses [Member]  
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
The following table summarizes the preliminary 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
 
$
(129)
 
$
10,708
 
Practicare
 
 
292
 
 
1,137
 
 
2,394
 
 
17
 
 
(260)
 
 
3,288
 
CastleRock
 
 
359
 
 
1,395
 
 
2,339
 
 
28
 
 
(1)
 
 
3,761
 
Total
 
 
1,700
 
$
6,611
 
$
11,388
 
$
148
 
$
(390)
 
$
17,757
 
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
 
$
8,943,000
 
Non-compete agreements
 
 
971,000
 
Tangible assets
 
 
61,256
 
Acquired backlog
 
 
148,408
 
Goodwill
 
 
7,633,159
 
Total purchase consideration
 
$
17,756,823