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

Quarterly report pursuant to Section 13 or 15(d)

OTHER INCOME (EXPENSE) - NET

OTHER INCOME (EXPENSE) - NET

6 Months Ended

Jun. 30, 2015

Other Income and Expenses [Abstract]

Other Nonoperating Income and Expense [Text Block]

13.

OTHER INCOME (EXPENSE) NET

Other income (expense)-net for the three and six months ended June 30, 2015 and 2014 consisted of the following:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Foreign exchange gain (loss)		45,547		19,288		77,020	$	(183,976)
Other		11,666		(1,557)		26,339		1,822
Other income (expense) - net	$	57,213	$	17,731	$	103,359	$	(182,154)

Foreign currency transaction gains (losses) result from transactions related to the intercompany receivable for which transaction adjustments are recorded in the condensed consolidated statements of operations as they are not deemed to be permanently reinvested. An increase in the exchange rate of Pakistan rupees per U.S. dollar by 1% from December 31, 2014 to June 30, 2015 caused a foreign exchange gain of $45,547 and $77,020 for the three months and six months ended June 30, 2015, respectively. A decline in the exchange rate of Pakistan rupees per U.S. dollar by 6% from December 31, 2013 to June 30, 2014, caused a foreign exchange gain of $19,288 and exchange loss of $183,976 for the three months and six months ended June 30, 2014, respectively.