Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS (Tables)

v3.3.0.814
ACQUISITIONS (Tables)
 9 Months Ended
Sep. 30, 2015
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
The following table summarizes the preliminary purchase price allocation for the 2015 Acquisitions.
 
Preliminary Allocation of Purchase Price:
 
 
 
SoftCare
 
Med Tech
 
Intangible assets
 
$
559,000
 
$
134,000
 
Goodwill
 
 
281,554
 
 
138,363
 
Tangible assets
 
 
8,859
 
 
-
 
 
 
$
849,413
 
$
272,363
 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
The final purchase price allocation is presented below:
 
Customer contracts and relationships
 
$
8,225,000
 
Non-compete agreements
 
 
925,000
 
Tangible assets
 
 
61,256
 
Acquired backlog
 
 
148,408
 
Goodwill
 
 
8,216,336
 
 
 
$
17,576,000
 
Business Acquisition, Pro Forma Information [Table Text Block]
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
September 30,
 
September 30,
 
 
 
2015
 
2014
 
2015
 
2014
 
 
 
 
 
 
 
Total revenue
 
$
5,664,852
 
$
7,987,948
 
$
18,861,932
 
$
23,895,870
 
Net loss
 
$
(1,224,712)
 
$
(2,823,991)
 
$
(5,898,149)
 
$
(6,011,833)
 
Net loss per share
 
$
(0.13)
 
 
(0.34)
 
$
(0.61)
 
$
(0.97)
 
Acquired Businesses [Member]  
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
The following table summarizes the final purchase price 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
 
$
(329)
 
$
10,508
 
Practicare
 
 
293
 
 
1,137
 
 
2,394
 
 
17
 
 
(242)
 
 
3,306
 
CastleRock
 
 
359
 
 
1,395
 
 
2,339
 
 
28
 
 
-
 
 
3,762
 
Total
 
 
1,701
 
$
6,611
 
$
11,388
 
$
148
 
$
(571)
 
$
17,576