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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Jun. 30, 2015
Accounting Policies [Abstract] |
Estimated Useful Life in Years for Property and Equipment | The estimated useful lives in years are generally as follows:
Diagnostic equipment under capital lease |  |  | 2.5 |
Diagnostic equipment |  |  | 5–13 |
Research, development and demonstration equipment |  |  | 3-7 |
Machinery and equipment |  |  | 2-7 |
Furniture and fixtures |  |  | 3-9 |
Leasehold improvements |  |  | 2–10 |
Building |  |  | 28 |
Patient Fee Revenue - Net | The Company’s patient fee revenues, net of contractual allowances and discounts less the provision for bad debts for the years ended June 30, 2015, 2014 and 2013 are summarized in the following table.
|  | For the Year Ended June 30,
|  | 2015 |  | 2014 |  | 2013
Commercial Insurance/ Managed Care |  | $ | 4,398,589 |  |  | $ | 4,217,088 |  |  | $ | 1,360,536 |
Medicare/Medicaid |  |  | 1,187,690 |  |  |  | 1,443,020 |  |  |  | 541,602 |
Workers' Compensation/Personal Injury |  |  | 15,978,243 |  |  |  | 13,369,956 |  |  |  | 3,597,416 |
Other |  |  | 6,589,076 |  |  |  | 5,277,128 |  |  |  | 1,982,311 |
Patient Fee Revenue, net of contractual allowances and discounts |  |  | 28,153,598 |  |  |  | 24,307,192 |  |  |  | 7,481,865 |
Provision for Bad Debts |  |  | (12,770,249 | ) |  |  | (10,333,082 | ) |  |  | (2,584,669 | )
Net Patient Fee for Revenue |  | $ | 15,383,349 |  |  | $ | 13,974,110 |  |  | $ | 4,897,196 |
Earnings Per Share | Earnings Per Share
|  | June 30, 2015
Basic |  |  | Total |  |  |  | Common Stock |  |  |  | Class C Common Stock |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common stockholders |  | $ | 12,910,651 |  |  | $ | 12,071,670 |  |  | $ | 213,672 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 6,050,632 |  |  |  | 6,050,632 |  |  |  | 382,513 |
Basic income per common share |  | $ | 2.13 |  |  | $ | 2.00 |  |  | $ | 0.56 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |  |  | 6,050,632 |  |  |  | 382,513 |
Class C Common Stock |  |  |  |  |  |  | 127,504 |  |  |  | — |
Total Denominator for diluted earnings per share |  |  |  |  |  |  | 6,178,136 |  |  |  | 382,513 |
Diluted income per common share |  |  |  |  |  | $ | 1.95 |  |  | $ | 0.56 |
|  | June 30, 2014 |  |
Basic |  |  | Total |  |  |  | Common Stock |  |  |  | Class C Common Stock
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income available to common stockholders |  | $ | 10,396,130 |  |  | $ | 9,720,030 |  |  | $ | 172,189
Denominator: |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 6,009,822 |  |  |  | 6,009,822 |  |  |  | 382,513
Basic income per common share |  | $ | 1.73 |  |  | $ | 1.62 |  |  | $ | 0.45
Diluted |  |  |  |  |  |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |  |  | 6,009,822 |  |  |  | 382,513
Class C Common Stock |  |  |  |  |  |  | 127,504 |  |  |  | — |
Total Denominator for diluted earnings per share |  |  |  |  |  |  | 6,137,326 |  |  |  | 382,513
Diluted income per common share |  |  |  |  |  | $ | 1.58 |  |  | $ | 0.45
|  | June 30, 2013
Basic |  |  | Total |  |  |  | Common Stock |  |  |  | Class C Common Stock |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income Available to common stockholders |  | $ | 8,678,542 |  |  | $ | 8,107,367 |  |  | $ | 145,467 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 5,933,318 |  |  |  | 5,933,318 |  |  |  | 382,513 |
Basic income per common share |  | $ | 1.46 |  |  | $ | 1.37 |  |  | $ | 0.38 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |  |  | 5,933,318 |  |  |  | 382,513 |
Class C Common Stock |  |  |  |  |  |  | 127,504 |  |  |  | — |
Total Denominator for diluted earnings per share |  |  |  |  |  |  | 6,060,822 |  |  |  | 382,513 |
Diluted income per common share |  |  |  |  |  | $ | 1.34 |  |  | $ | 0.38 |

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