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Summary of Significant Accounting Policies (Tables)
6 Months Ended
Sep. 30, 2014
Accounting Policies [Abstract]  
Schedule Of Cash Equivalents And Marketable Securities
The following is a summary of cash equivalents and marketable securities:
 
As of September 30, 2014
 
 
 
 
Gross
 
Gross
 
Estimated
 
Cash and
 
Marketable
 
 
 
 
 
 
Unrealized
 
Unrealized
 
Fair
 
Cash
 
Securities
 
 
 
Cost
 
Gain
 
Loss
 
Value
 
Equivalents
 
(all current)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bank demand deposits
 
$
3,856,285
 
$
-
 
$
-
 
$
3,856,285
 
$
3,856,285
 
$
-
 
Money market funds
 
 
93,840
 
 
-
 
 
-
 
 
93,840
 
 
93,840
 
 
-
 
Mutual funds
 
 
148,028
 
 
966
 
 
-
 
 
148,994
 
 
-
 
 
148,994
 
Equity securities
 
 
241,065
 
 
32,122
 
 
-
 
 
273,187
 
 
-
 
 
273,187
 
 
 
$
4,339,218
 
$
33,088
 
$
-
 
$
4,372,306
 
$
3,950,125
 
$
422,181
 
 
As of March 31, 2014
 
 
 
 
Gross
 
Gross
 
Estimated
 
Cash and
 
 
 
 
 
 
Unrealized
 
Unrealized
 
Fair
 
Cash
 
 
 
Cost
 
Gain
 
Loss
 
Value
 
Equivalents
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bank demand deposits
 
$
6,831,478
 
 
-
 
 
-
 
$
6,831,478
 
$
6,831,478
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
6,831,478
 
$
-
 
$
-
 
$
6,831,478
 
$
6,831,478
 
Schedule of Medical Payables
The Company’s IBNR reserve for the six months ended September 30, 2014 was as follows:
 
Balance, beginning of period
 
$
274,000
 
 
 
 
 
 
Incurred health care costs:
 
 
 
 
Current year
 
 
1,566,856
 
Prior years
 
 
-
 
Total incurred health care costs
 
 
1,566,856
 
 
 
 
 
 
Acquired medical liabilities (see Note 3 )
 
 
292,309
 
 
 
 
 
 
Claims paid:
 
 
 
 
Current year
 
 
(997,390)
 
Prior years
 
 
(64,482)
 
Total claims paid
 
 
(1,061,872)
 
 
 
 
 
 
Adjustments
 
 
(197,938)
 
Balance, end of period
 
$
873,355
 
 
 
 
 
 
Company Accrual Risk Pool Liability
The Company’s accrual for its risk-pool liability for the six months ended September 30, 2014 was as follows:
 
Balance, beginning of period
 
$
278,561
 
 
 
 
 
 
Acquired medical liabilities (see Note 3)
 
 
128,848
 
 
 
 
 
 
Claims paid:
 
 
-
 
 
 
 
 
 
Accrual for net deficit from full risk capitation contracts
 
 
361,733
 
Balance, end of period
 
$
769,142
 
Fair Value Measurements, Recurring and Nonrecurring
The carrying amounts and fair values of the Company's financial instruments are presented below as of:
 
September 30, 2014
 
 
 
 
 
 
 
 
 
 
 
Fair Value Measurements
 
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market currency funds
 
$
-
 
$
93,840
 
$
-
 
$
93,840
 
Mutual funds
 
 
-
 
 
148,994
 
 
-
 
 
148,994
 
Equity securities
 
 
273,187
 
 
-
 
 
-
 
 
273,187
 
 
 
$
273,187
 
$
242,834
 
$
-
 
$
516,021
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Warranty liability
 
$
-
 
$
-
 
$
2,750,480
 
$
2,750,480
 
Holdback consideration
 
 
-
 
 
-
 
 
136,822
 
 
136,822
 
Conversion feature liability
 
 
-
 
 
-
 
 
547,784
 
 
547,784
 
 
 
$
-
 
$
-
 
$
3,435,086
 
$
3,435,086
 
 
March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Measurements
 
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Warrant liability
 
$
-
 
$
-
 
$
2,354,624
 
$
2,354,624
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
-
 
$
-
 
$
2,354,624
 
$
2,354,624
 
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation
The following summarizes the activity of Level 3 inputs measured on a recurring basis for the three and six months ended September 30, 2014:
 
 
 
Three months
 
 
Six months
 
 
 
 
 
 
 
 
 
Balance, beginning of period
 
$
2,521,451
 
$
2,354,624
 
Warrant liability incurred (Note 7)
 
 
487,620
 
 
487,620
 
Change in warrant liability
 
 
(121,769)
 
 
(91,764)
 
Holdback consideration
 
 
-
 
 
136,822
 
Conversion feature liability incurred (Note 7)
 
 
578,155
 
 
578,155
 
Change in conversion feature liability
 
 
(30,371)
 
 
(30,371)
 
Balance, end of period
 
$
3,435,086
 
$
3,435,086
 
Basic and Diluted Earnings per Share
The following table sets forth the number of shares excluded from the computation of diluted earnings per share, as their inclusion would be anti-dilutive:
 
 
 
 
Three Months Ended September 30,
 
 
Six Months Ended September 30,
 
 
 
 
2014
 
 
2013
 
 
2014
 
 
2013
 
Options
 
 
-
 
 
4,373,687
 
 
3,657,216
 
 
4,547,125
 
Warrants
 
 
-
 
 
1,428,067
 
 
1,495,803
 
 
1,535,402
 
9% Convertible Notes
 
 
799,523
 
 
674,528
 
 
748,824
 
 
785,714
 
 
 
 
799,523
 
 
6,476,282
 
 
5,901,843
 
 
6,868,241