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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Jun. 30, 2018
Accounting Policies [Abstract] |
Estimated Useful Life in Years for Property and Equipment | Property and Equipment The estimated useful lives in years are generally as follows:
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, 2018, 2017 and 2016 are summarized in the following table.
|  | For the Year Ended June 30,
|  | 2018 |  | 2017 |  | 2016
Commercial Insurance/ Managed Care |  | $ | 4,729,514 |  |  | $ | 4,904,892 |  |  | $ | 4,659,322 |
Medicare/Medicaid |  |  | 1,233,078 |  |  |  | 1,274,436 |  |  |  | 1,182,552 |
Workers' Compensation/Personal Injury |  |  | 25,358,543 |  |  |  | 23,240,829 |  |  |  | 20,888,856 |
Other |  |  | 7,844,278 |  |  |  | 6,980,443 |  |  |  | 6,255,079 |
Patient Fee Revenue, net of contractual allowances and discounts |  |  | 39,165,413 |  |  |  | 36,400,600 |  |  |  | 32,985,809 |
Provision for Bad Debts |  |  | (17,896,528 | ) |  |  | (16,171,434 | ) |  |  | (14,539,786 | )
Net Patient Fee Revenue |  | $ | 21,268,885 |  |  | $ | 20,229,166 |  |  | $ | 18,446,023 |
Earnings Per Share | Earnings Per Share
|  | June 30, 2018
Basic |  | Total |  | Common Stock |  | Class C Common Stock
Numerator: |  |  |  |  |  |
Net income available to common stockholders |  | $ | 21,230,802 |  |  | $ | 19,899,823 |  |  | $ | 338,974 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 6,287,510 |  |  |  | 6,287,510 |  |  |  | 382,513 |
Basic income per common share |  | $ | 3.38 |  |  | $ | 3.16 |  |  | $ | 0.89 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |  |  | 6,287,510 |  |  |  | 382,513 |
Class C Common Stock |  |  |  |  |  |  | 127,504 |  |  |  | — |
Total Denominator for diluted earnings per share |  |  |  |  |  |  | 6,415,014 |  |  |  | 382,513 |
Diluted income per common share |  |  |  |  |  | $ | 3.10 |  |  | $ | 0.89 |
|  | June 30, 2017
Basic |  | Total |  | Common Stock |  | Class C Common Stock
Numerator: |  |  |  |  |  |
Net income available to common stockholders |  | $ | 19,620,621 |  |  | $ | 18,390,586 |  |  | $ | 313,266 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 6,161,599 |  |  |  | 6,161,599 |  |  |  | 382,513 |
Basic income per common share |  | $ | 3.18 |  |  | $ | 2.98 |  |  | $ | 0.82 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |  |  | 6,161,599 |  |  |  | 382,513 |
Class C Common Stock |  |  |  |  |  |  | 127,504 |  |  |  | — |
Total Denominator for diluted earnings per share |  |  |  |  |  |  | 6,289,103 |  |  |  | 382,513 |
Diluted income per common share |  |  |  |  |  | $ | 2.92 |  |  | $ | 0.82 |
|  | June 30, 2016
Basic |  | Total |  | Common Stock |  | Class C Common Stock
Numerator: |  |  |  |  |  |
Net income available to common stockholders |  | $ | 15,724,625 |  |  | $ | 14,702,834 |  |  | $ | 260,230 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 6,050,893 |  |  |  | 6,050,893 |  |  |  | 382,513 |
Basic income per common share |  | $ | 2.60 |  |  | $ | 2.43 |  |  | $ | 0.68 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |  |  | 6,050,893 |  |  |  | 382,513 |
Class C Common Stock |  |  |  |  |  |  | 127,504 |  |  |  | — |
Total Denominator for diluted earnings per share |  |  |  |  |  |  | 6,178,397 |  |  |  | 382,513 |
Diluted income per common share |  |  |  |  |  | $ | 2.38 |  |  | $ | 0.68 |

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