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NOTE 9 - CONTROLLING AND NONCONTROLLING INTERESTS (Tables) | 12 Months Ended
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Jun. 30, 2015
Noncontrolling Interest [Abstract] |
Estimated Fair Value of Assets and Liabilities Assumed at Acquisition Date of Health Diagnostics Management (HDM) | The following table summarizes the estimated fair values of the assets and liabilities assumed at the acquisition date:
Management fee receivable |  | $ | 6,667,259 |
Medical receivables |  |  | 7,389,953 |
Prepaid expenses and other current assets |  |  | 10,262 |
Property and equipment |  |  | 14,912,650 |
Intangible assets |  |  | 9,200,000 |
Goodwill |  |  | 1,767,098 |
Other assets |  |  | 332,949 |
Other current liabilities |  |  | (6,323 | )
Long term debt |  |  | (273,848 | )
Net assets acquired |  | $ | 40,000,000 |
Fair Value of Intangible Assets, Acquired in Acquisition, Excluding Goodwill | The intangible assets, excluding goodwill, are being amortized on a straight-line basis over their weighted average lives as follows:
|  | Fair Value |  |
Non compete |  | $ | 4,100,000 |  |  |  | 7 years |
Customer relationships |  |  | 3,800,000 |  |  |  | 20 years |
Developed software |  |  | 1,300,000 |  |  |  | 5 years |
Total intangible assets |  | $ | 9,200,000 |  |  |  |  |
Unaudited Pro Forma Results of Operations | The following unaudited pro forma results of operations for the twelve months ended June 30, 2013 assumes that the above acquisitions were made at the beginning of the year of acquisition. The unaudited pro forma information does not purport to be indicative of the results that would have been obtained if the acquisitions had actually occurred at the beginning of the year prior to acquisition, nor of the results that may be reported in the future.
|  | Year ended June 30, 2013
Total Revenues – Net |  |  | 69,723,542 |
Net Income - Controlling Interests |  |  | 17,442,337 |
Net Income Available to Common Stockholders |  |  | 16,294,377 |
Net Income Available to Class A Non-Voting Preferred Stockholders |  |  | 855,597 |
Net Income Available to Class C Common Stockholders |  |  | 292,363 |
Basic Net Income Per Common Share Available to Common Stockholders |  |  | 2.75 |
Diluted Net Income Per Common Share Available to Common Stockholders |  |  | 2.69 |
Basic and Diluted Income Per Share - Common C |  |  | 0.76 |
Weighted Average Basic Shares Outstanding |  |  | 5,933,318 |
Weighted Average Diluted Shares Outstanding |  |  | 6,060,822 |
Weighted Average Basic and Diluted Shares Outstanding - Class C Common |  |  | 382,513 |
Class A And B Members' Equity (HDM Acquisition) | On January 8, 2015, the Company purchased 20% of the Class A members ownership interest at a cost of $4,971,094. The Company has a 60.4% ownership interest in HDM after this transaction. Amount of each class of HDM members’ equity as of June 30, 2015, 2014 and 2013
|  | June 30, 2015 |  | June 30, 2014 |  | June 30, 2013
|  | Class A Members |  | Class B Member |  | Class A Members |  | Class B Member |  | Class A Members |  | Class B Member
Opening Members’ Equity |  | $ | 17,659,698 |  |  | $ | 21,113,266 |  |  | $ | 19,526,475 |  |  | $ | 20,763,830 |  |  | $ | — |  |  | $ | — |
Share of Net Income |  |  | 1,988,915 |  |  |  | 5,704,999 |  |  |  | 2,266,473 |  |  |  | 4,566,186 |  |  |  | 543,225 |  |  |  | 1,397,080 |
Contributions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19,800,000 |  |  |  | 20,200,000 |
Buyout |  |  | (4,971,094 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Distributions |  |  | (3,925,350 | ) |  |  | (4,774,644 | ) |  |  | (4,133,250 | ) |  |  | (4,216,750 | ) |  |  | (816,750 | ) |  |  | (833,250 | )
Ending Members’ Equity |  | $ | 10,752,169 |  |  | $ | 22,043,621 |  |  | $ | 17,659,698 |  |  | $ | 21,113,266 |  |  | $ | 19,526,475 |  |  | $ | 20,763,830 |
Class A And B Members' Equity (Imperial Management Services) | On May 2, 2011, the Company completed a private placement of equity and succeeded in raising $6,000,000. Amount of each class of Imperial Management Services, LLC members’ equity as of June 30, 2015, 2014 and 2013
|  | June 30, 2015 |  | June 30, 2014 |  | June 30, 2013
|  | Class A Members |  | Class B Member |  | Class A Members |  | Class B Member |  | Class A Members |  | Class B Member
Opening Members’ Equity |  | $ | 2,403,812 |  |  | $ | 11,079,317 |  |  | $ | 3,599,519 |  |  | $ | 7,772,781 |  |  | $ | 4,918,365 |  |  | $3,824,945
Share of Net Income |  |  | 405,634 |  |  |  | 3,921,129 |  |  |  | 536,913 |  |  |  | 3,306,536 |  |  |  | 959,254 |  |  | 3,947,836
Contributions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | —
Distributions |  |  | (405,000 | ) |  |  | — |  |  |  | (607,520 | ) |  |  | — |  |  |  | (853,200 | ) |  | —
Redemption |  |  | (1,125,000 | ) |  |  | — |  |  |  | (1,125,100 | ) |  |  | — |  |  |  | (1,424,900 | ) |  | —
Ending Members’ Equity |  | $ | 1,279,446 |  |  | $ | 15,000,446 |  |  | $ | 2,403,812 |  |  | $ | 11,079,317 |  |  | $ | 3,599,519 |  |  | $7,772,781

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