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Investment and Related Parties
3 Months Ended
Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Investment and Related Parties

(4) Investment and Related Parties

 

The Company owns a 24.5% interest in RadQual, LLC (RadQual), with which the Company has an exclusive manufacturing agreement for nuclear medicine products. The 24.5% ownership of RadQual has a balance of $1,366,674 and is reported as an asset at March 31, 2014. For the three months ended March 31, 2014, member distributions from RadQual totaled $23,714 and were recorded as a reduction of the investment, and for the same period in 2013, member distributions totaled $18,232. During the three months ended March 31, 2014 and 2013, earnings allocated to the Company from RadQual totaled $21,580 and $2,746, respectively. These allocated earnings were recorded as equity in net income of affiliate on the Company’s condensed consolidated statements of operations.

 

At March 31, 2014 and 2013, the Company had receivables from RadQual in the amount of $497,645 and $508,513, respectively, which are recorded as part of accounts receivable on the Company’s condensed consolidated balance sheets. For the three months ended March 31, 2014 and 2013, the Company had revenue from RadQual in the amount of $762,750 and $850,768, respectively, which is recorded as sale of product on the Company’s condensed consolidated statements of operations.