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Acquisitions (Tables)
 6 Months Ended
Sep. 30, 2014
Business Acquisition [Line Items]  
Weighted-average amortization period for intangible assets acquired
The intangible assets acquired consisted of the following:
 
 
 
Life
(yrs)
 
Additions
 
 
 
 
 
 
 
 
Network relationships
 
5
 
$
910,000
 
Trade name
 
5
 
 
110,000
 
Non-compete agreements
 
3
 
 
101,000
 
 
 
 
 
$
1,121,000
 
AKM
  
Business Acquisition [Line Items]  
Schedule Of Business Acquisitions By Acquisition Consideration Transferred
The acquisition-date fair value of the consideration transferred was as follows:
 
Cash consideration
 
$
140,000
 
Fair value of holdback consideration due to seller
 
 
136,822
 
 
 
 
 
 
Total purchase consideration
 
$
276,822
 
Schedule of Purchase Prices Allocations
Under the acquisition method of accounting, the total purchase price was allocated to AKM’s net tangible assets based on their estimated fair values as of the closing date. The preliminary allocation of the total purchase price to the net assets acquired and included in the Company’s condensed consolidated balance sheet is as follows:
 
Cash and cash equivalents
 
$
356,359
 
Marketable securities
 
 
389,094
 
Accounts receivable
 
 
27,217
 
Prepaid expenses and other assets
 
 
26,311
 
Intangibles
 
 
156,000
 
Goodwill
 
 
(216,563)
 
Accounts payable and accrued liabilities
 
 
(40,439)
 
Medical payables
 
 
(421,157)
 
Net assets acquired
 
$
276,822
 
SCHC
  
Business Acquisition [Line Items]  
Schedule Of Business Acquisitions By Acquisition Consideration Transferred
The acquisition-date fair value of the consideration transferred was as follows:
 
Cash consideration
 
$
2,428,391
 
Fair value of warrant consideration
 
 
132,000
 
 
 
$
2,560,391
 
Schedule of Purchase Prices Allocations
The preliminary allocation of the total purchase price to the net assets acquired and liabilities assumed and included in the Company’s condensed consolidated balance sheet at September 30, 2014 is as follows:
 
Cash and cash equivalents
 
$
264,601
 
Accounts receivable
 
 
840,433
 
Receivable from affiliate
 
 
67,714
 
Prepaid expenses and other current assets
 
 
82,430
 
Property and equipment
 
 
584,377
 
Identifiable intangible assets
 
 
1,121,000
 
Goodwill
 
 
161,559
 
Other assets
 
 
66,762
 
Total assets acquired
 
 
3,188,876
 
 
 
 
 
 
Accounts payable and accrued liabilities
 
 
134,427
 
Note payable to financial institution
 
 
463,582
 
Deferred tax liability
 
 
30,477
 
Total liabilities assumed
 
 
628,485
 
 
 
 
 
 
Net assets acquired
 
$
2,560,391
 
AKM & SCHC
  
Business Acquisition [Line Items]  
Business Acquisition, Pro Forma Information
The following unaudited pro forma results of operations for the three and six months ended September 30, 2014 assume both the AKM and SCHC acquisitions had occurred on April 1, 2014, and for the six months ended September 30, 2013 assume the acquisitions had occurred on April 1, 2013:
 
 
 
Three months ended September 30,
 
Six months ended September 30,
 
 
 
2014
 
2013
 
2014
 
2013
 
 
 
(unaudited)
 
(unaudited)
 
(unaudited)
 
(unaudited)
 
Net revenue
 
$
11,899,142
 
$
4,477,640
 
$
17,956,326
 
$
9,135,956
 
Net income (loss)
 
$
1,410,936
 
$
(1,067,658)
 
$
(209,441)
 
$
(3,054,008)
 
Basic income (loss) per share
 
$
0.03
 
$
(0.02)
 
$
(0.00)
 
$
(0.08)
 
Diluted income (loss) per share
 
$
0.03
 
$
(0.02)
 
$
(0.00)
 
$
(0.08)