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Summary of Significant Accounting Policies (Tables)
6 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
Schedule of Revenue by Major Customers by Reporting Segments
The Company had major payors that contributed the following percentage of net revenue:
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
September 30,
 
September 30,
 
 
 
2016
 
2015
 
2016
 
2015
 
Governmental - Medicare/Medi-Cal
 
 
21.9
%
 
32.7
%
 
22.6
%
 
33.8
%
L.A Care
 
 
*
%
 
16.0
%
 
11.9
%
 
14.6
%
Allied Physicians
 
 
*
%
 
*
%
 
11.3
%
 
*
%
Health Net
 
 
*
%
 
11.3
%
 
*
%
 
12.4
%
* Represents less than 10%
 
Receivables from major payors amounted to the following percentage of total accounts receivable:
 
 
 
September 30,
 
March 31,
 
 
 
2016
 
2016
 
Governmental - Medicare/Medi-Cal
 
 
29.0
%
 
39.3
%
Allied Physicians
 
 
*
%
 
15.8
%
Schedule Of Percentage Of Total Accounts Receivable
The Company’s medical liabilities were as follows:
 
 
 
Six Months
 
 
 
 
 
Ended
 
Year Ended
 
 
 
September
 
March 31,
 
 
 
30, 2016
 
2016
 
Balance, beginning of period
 
$
2,670,709
 
$
1,260,549
 
Incurred health care costs:
 
 
 
 
 
 
 
Current year
 
 
5,101,466
 
 
7,844,329
 
Claims paid:
 
 
 
 
 
 
 
Current year
 
 
(3,277,456)
 
 
(6,019,186)
 
Prior years
 
 
(1,742,593)
 
 
(1,159,909)
 
Total claims paid
 
 
(5,020,049)
 
 
(7,179,095)
 
Risk pool settlement
 
 
-
 
 
-
 
Accrual for net (deficit) surplus from full risk capitation contracts
 
 
(682,734)
 
 
803,981
 
Adjustments
 
 
-
 
 
(59,055)
 
 
 
 
 
 
 
 
 
Balance
 
$
2,069,392
 
$
2,670,709
 
Fair Value Measurements, Recurring and Nonrecurring
The carrying amounts and fair values of the Company's financial instruments are presented below as of:
 
September 30, 2016
 
 
 
Fair Value Measurements
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Warrant liability
 
$
-
 
$
-
 
$
1,477,778
 
$
1,477,778
 
 
March 31, 2016
 
 
 
Fair Value Measurements
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Warrant liability
 
$
-
 
$
-
 
$
2,811,111
 
$
2,811,111
 
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation
The following summarizes the activity of Level 3 inputs measured on a recurring basis for the three and six months ended September 30, 2015 and 2016:
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
September 30, 2016
 
September 30, 2016
 
 
 
 
 
Conversion
 
 
 
 
 
Conversion
 
 
 
 
 
Warrant
 
Feature
 
 
 
Warrant
 
Feature
 
 
 
 
 
Liability
 
Liability
 
Total
 
Liability
 
Liability
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period
 
$
1,988,889
 
$
-
 
$
1,988,889
 
$
2,811,111
 
$
-
 
$
2,811,111
 
Loss (gain) on change in fair value of warrant and conversion feature liability
 
 
(511,111)
 
 
-
 
 
(511,111)
 
 
(1,333,333)
 
 
-
 
 
(1,333,333)
 
Balance, as adjusted, end of period
 
$
1,477,778
 
$
-
 
$
1,477,778
 
$
1,477,778
 
$
-
 
$
1,477,778
 
 
 
 
Three   Months Ended
 
Six Months Ended
 
 
 
September 30, 2015
 
September 30, 2015
 
 
 
 
 
Conversion
 
 
 
 
 
Conversion
 
 
 
 
 
Warrant
 
Feature
 
 
 
Warrant
 
Feature
 
 
 
 
 
Liability
 
Liability
 
Total
 
Liability
 
Liability
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period
 
$
2,308,620
 
$
491,952
 
$
2,800,572
 
$
2,144,496
 
$
442,358
 
$
2,586,854
 
Loss (gain) on change in fair value of warrant and conversion feature liability
 
 
6,950
 
 
(103,802)
 
 
(96,852)
 
 
171,074
 
 
(54,208)
 
 
116,866
 
Warrant out of period correction, as adjusted
 
 
(999,724)
 
 
-
 
 
(999,724)
 
 
(999,724)
 
 
-
 
 
(999,724)
 
Balance, as adjusted, end of period
 
$
1,315,846
 
$
388,150
 
$
1,703,996
 
$
1,315,846
 
$
388,150
 
$
1,703,996
 
Basic and Diluted Earnings per Share
The following table sets forth the number of shares excluded from the computation of diluted earnings per share, as their inclusion would be anti-dilutive:
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
September 30,
 
September 30,
 
 
 
2016
 
2015
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
Options
 
 
487,500
 
 
-
 
 
527,500
 
 
-
 
Warrants
 
 
104,500
 
 
-
 
 
114,500
 
 
-
 
Convertible Notes
 
 
1,666,666
 
 
-
 
 
1,666,666
 
 
-
 
 
 
 
2,258,666
 
 
-
 
 
2,308,666
 
 
-