ACQUISITIONS (Tables)
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9 Months Ended |
Sep. 30, 2014
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Metro Medical Management Services, Inc. [Member] |
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Business Combinations [Abstract] |
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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 | |
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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 | |
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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) | |
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Acquired Businesses [Member] |
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Business Combinations [Abstract] |
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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 | |
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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 | |
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