XML 23 R13.htm IDEA: XBRL DOCUMENT v3.22.1
Investment in ACMG
12 Months Ended
Dec. 31, 2021
Investments, All Other Investments [Abstract]  
Investment in ACMG

Note 6 – Investment in ACMG

In connection with the acquisition of Accountable Care Medical Group of Florida, Inc. (“ACMG”), AHA defaulted on its payment obligations of $15,000,000 by the extended payment due date of November 15, 2020. Accordingly, AHA was required to return 71% of its ownership to the shareholders of ACMG in full settlement of the default. Consequently, AHA deconsolidated its reporting of ACMG. The Company recognized that AHA held a non-controlling 29% equity ownership interest in ACMG as of February 28, 2021 that was required to be measured at fair value. The Company determined through the services of an independent valuation under ASC 805 using an income approach, market approach, and asset-based approach that the fair value of its 29% equity ownership interest in ACMG is $7,134,000. On November 12, 2021, ACMG was sold to Genuine Health Group, LLC for a purchase price of $30 million less costs and adjustments. The Company’s share of the proceeds was $5,887,806 of which $1,333,130 was held back in escrow subject to further purchase price adjustments and is reported as a current asset. Although the settlement agreement provided that all parties had no further rights and claims, the Company negotiated and received a settlement paid for monies owed for 2020 MSSP profits. For the period March 1, 2021 through December 31, 2021, the Company received a settlement payment from ACMG of $522,000, which is reported as other income.