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

Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

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)		$	(2,776,029)		$	(1,629,098)		$	(5,246,507)		$	(6,011,913)
Net (loss) per share		$	(0.30)		$	(0.32)		$	(0.81)		$	(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:

			Common Stock								Acquired			Contingent			Total
			Shares		Value			Cash			Backlog			Consideration			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