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SUBSEQUENT EVENTS | 6 Months Ended
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Jun. 30, 2021
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | NOTE 16. SUBSEQUENT EVENTS Letter of Intent to Acquire Medical Billing Company On May 21, 2021, the Company’s healthcare subsidiary entered a letter of intent to acquire 100% of the capital stock of a medical billing company located in the Midwest for a total purchase price of $2,750,000 (the “Target”). The purchase price includes $2.1 million in cash at closing and a $650,000 contingent consideration promissory note bearing interest at 3% per annum subject to adjustment based on revenues achieved over an approximate 18-month period after closing. The letter of intent is subject to satisfactory completion of due diligence procedures, review of legal, financial, tax and other matters concerning the Target’s business. The letter of intent is also not binding until the parties mutually agree to the terms of the underlying definitive agreements including the receipt of all approvals and consents considered necessary by both parties. The parties are currently negotiating the final definitive agreements and anticipate a closing date on or around August 31, 2021. However, there can be no assurances that the parties will complete the acquisition of the Target and on what terms will be included in the final definitive agreements. Amendment to the 2020 Stock Option and Restricted Stock Plan Our Board of Directors approved an amendment to the 2020 Stock Option and Restricted Stock Plan (the “2020 Plan”) on March 15, 2021, subject to the affirmative vote of a majority of common shares by the Company’s stockholders. At the annual meeting of the Company’s stockholders held on July 8, 2020 (the “Annual Meeting”) the stockholders approved the amendment to the 2020 Plan. Such amendment provided for an increase in the number of shares reserved for issuance under the plan from 1,000,000 to 2,500,000 shares of common stock issuable under the 2020 Plan.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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