XML 13 R2.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 52,726,305 $ 106,891,503
Restricted cash 3,537,470 0
Investment in marketable securities 1,149,828 1,127,102
Receivables, net 16,707,314 7,127,217
Receivables, net – related parties 64,057,647 49,328,739
Other receivables 12,900,211 1,003,133
Prepaid expenses and other current assets 10,121,935 7,385,098
Loan receivable – related parties 6,425,000 0
Total current assets 167,625,710 172,862,792
Noncurrent assets    
Land, property and equipment, net 12,101,373 12,721,082
Intangible assets, net 109,069,858 86,875,883
Goodwill 209,313,824 185,805,880
Loans receivable – related parties 17,500,000 17,500,000
Investment in other entities – equity method 35,903,041 34,876,980
Investment in a privately held entity that does not report net asset value per share 405,000 405,000
Restricted cash 740,212 745,470
Right-of-use assets 14,319,371 0
Other assets 1,351,576 1,205,962
Total noncurrent assets 400,704,255 340,136,257
Total assets 568,329,965 512,999,049
Current liabilities    
Accounts payable and accrued expenses 30,658,273 25,075,489
Fiduciary accounts payable 1,798,807 1,538,598
Medical liabilities 42,942,898 33,641,701
Income taxes payable 0 11,621,861
Bank loan 0 40,257
Finance lease obligation 101,741 101,741
Lease liabilities 2,836,010 0
Total current liabilities 78,337,729 72,019,647
Noncurrent liabilities    
Lines of credit – related party 44,600,000 13,000,000
Deferred tax liability 26,651,678 19,615,935
Liability for unissued equity shares 1,185,025 1,185,025
Finance lease obligation 466,771 517,261
Lease liabilities 11,416,750 0
Total noncurrent liabilities 84,320,224 34,318,221
Total liabilities 162,657,953 106,337,868
Commitments and Contingencies (Note 10)
Mezzanine equity    
Noncontrolling interest in Allied Physicians of California, a Professional Medical Corporation (“APC”) 219,582,512 225,117,029
Stockholders’ equity    
Common stock, par value $0.001; 100,000,000 shares authorized, 34,638,812 and 34,578,040 shares outstanding, excluding 1,944,054 and 1,850,603 treasury shares, at June 30, 2019 and December 31, 2018, respectively 34,639 34,578
Additional paid-in capital 163,891,843 162,723,051
Retained earnings 21,473,083 17,788,203
Stockholders' equity attributable to parent 185,399,565 180,545,832
Noncontrolling interest 689,935 998,320
Total stockholders’ equity 186,089,500 181,544,152
Total liabilities, mezzanine equity and stockholders’ equity 568,329,965 512,999,049
Series A Preferred stock, par value $0.001; 5,000,000 shares authorized (inclusive of all preferred stock, including Series B Preferred stock); 1,111,111 issued and zero outstanding at June 30, 2019 and December 31, 2018, respectively    
Stockholders’ equity    
Preferred stock 0 0
Series B Preferred stock, par value $0.001; 5,000,000 shares authorized (inclusive of all preferred stock, including Series A Preferred stock); 555,555 issued and zero outstanding at June 30, 2019 and December 31, 2018, respectively    
Stockholders’ equity    
Preferred stock $ 0 $ 0