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

9 Months Ended

Sep. 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 nine months ended September 30, 2015 and 2014 consisted of the following:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Foreign exchange (loss) gain	$	52,350	$	112,764	$	128,180	$	(74,006)
Other		9,519		(36,493)		37,048		(34,656)
Other income (expense) - net	$	61,869	$	76,271	$	165,228	$	(108,662)

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 2.0% and 3.3% caused a foreign exchange gain of $52,350 and $128,180 for the three months and nine months ended September 30, 2015, respectively A decline in the exchange rate of Pakistan rupees per U.S. dollar by 3.1% from December 31, 2013 to September 30, 2014 and a 3.4% increase in the exchange rate from July 1, 2014 to September 30, 2014, caused a foreign exchange gain of $112,764 and exchange loss of $74,006 for the three months and nine months ended September 30, 2014, respectively.