XML 17 R6.htm IDEA: XBRL DOCUMENT v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net (loss) income $ (2,450,129) $ 15,717,655
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,417,581 5,058,512
Loss of disposal of property and equipment 0 41,782
Provision for doubtful accounts 951,014 247,102
Share-based compensation 345,134 833,944
Unrealized (gain) loss from investment in equity securities (7,727) 8,550
Loss from equity method investments 849,657 28,024
Deferred tax (2,623,145) 2,807,407
Changes in operating assets and liabilities:    
Receivable, net 486,981 1,296,519
Receivable, net – related parties (7,511,121) (22,631,440)
Other receivables (11,244,643) 0
Prepaid expenses and other current assets (728,631) 232,392
Right-of-use assets 447,960  
Other assets (442,882) (59,444)
Accounts payable and accrued expenses 22,578,982 (1,169,363)
Incentives payable 0 (6,600,000)
Fiduciary accounts payable 546,328 (630,963)
Medical liabilities (10,375,836) 5,138,508
Income taxes payable 1,209,978 4,416,174
Lease liabilities (416,255) 0
Net cash (used in) provided by operating activities (3,966,754) 4,735,359
Cash flows from investing activities    
Purchases of marketable securities (8,177) (3,932)
Purchases of property and equipment (103,616) (485,121)
Net cash used in investing activities (111,793) (489,053)
Cash flows from financing activities    
Repayments on bank loan (40,257) (140,608)
Dividends paid (10,000,000) (2,000,000)
Payment of capital lease obligations (25,151) (24,407)
Proceeds from exercise of stock options and warrants 139,974 1,923,784
Repurchase of shares (40,000) 0
Proceeds from common stock offering 155,000 0
Net cash used in financing activities (9,810,434) (241,231)
Net (decrease) increase in cash, cash equivalents and restricted cash (13,888,981) 4,005,075
Cash, cash equivalents and restricted cash, beginning of period 107,636,973 118,500,095
Cash, cash equivalents and restricted cash, end of period 93,747,992 122,505,170
Supplemental disclosures of cash flow information    
Cash paid for income taxes 0 0
Cash paid for interest 181,819 73,610
Supplemental disclosures of non-cash investing and financing activities    
Cashless exercise of stock options 0 43
Deferred tax liability adjusted to goodwill 0 914,011
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 93,007,780 103,731,761
Restricted cash – short-term - distributions to former NMM shareholders 0 18,028,116
Restricted cash – long-term - letters of credit 740,212 745,293
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 93,747,992 $ 122,505,170