CareCloud, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table summarizes the Company’s financial instruments that are not measured at fair value on a recurring basis by a fair value hierarchy as of March 31, 2015 and December 31, 2014:

	Carrying Value at		Fair Value as of March 31, 2015, using,
	March 31, 2015		Level 1		Level 2		Level 3		Total
Financial Assets
Cash	$	1,185,943	$	1,185,943	$	-	$	-	$	1,185,943
Financial Liabilities
Borrowings under line of credit		3,000,000		-		3,000,000		-		3,000,000
Notes payable - Other⁽¹⁾		389,998		-		-		388,729		388,729

	Carrying Value at		Fair Value as of December 31, 2014, using,
	December 31, 2014		Level 1		Level 2		Level 3		Total
Financial Assets
Cash	$	1,048,660	$	1,048,660	$	-	$	-	$	1,048,660
Financial Liabilities
Borrowings under line of credit		1,215,000		-		1,215,000		-		1,215,000
Notes payable - Other(1)		645,180		-		-		644,974		644,974

(1) Excludes note payable to the majority shareholder

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table provides a reconciliation of the beginning and ending balances for the contingent consideration measured at fair value using significant unobservable inputs (Level 3):

Financial instruments measured at fair value on a recurring basis:

	FairValue Measurement at
	Reporting Date Using
	Significant Unobservable
	Outputs, Level 3
Balance - January 1, 2015	$	2,626,323
Change in fair value		(695,883)
Balance - March 31, 2015	$	1,930,440

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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