Segment Reporting

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 14 – SEGMENT REPORTING

The Company has two reportable segments: NWC and HLYK. NWC is a multi-specialty medical group including OB/GYN (both Obstetrics and Gynecology), and General Practice. The practice’s office is located in Naples, Florida. HLYK plans to operate an online personal medical information and record archive system, the “HealthLynked Network”, which will enable patients and doctors to keep track of medical information via the Internet in a cloud based system. Patients will complete a detailed online personal medical history including past surgical history, medications, allergies, and family history. Once this information is entered patients and their treating physicians will be able to update the information as needed to provide a comprehensive medical history.

The Company evaluates performance and allocates resources based on profit or loss from operations before income taxes. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies.

Segment information for the years ended December 31, 2018 and 2017 was as follows:

	Year Ended December 31, 2018									Year Ended December 31, 2017
	NWC			HLYK			Total			NWC			HLYK			Total
Revenue
Patient service revenue, net	$	2,259,002		$	---		$	2,259,002		$	2,103,579		$	---		$	2,103,579
Medicare incentives		---			---			---			---			---			---
Total revenue		2,259,002			---			2,259,002			2,103,579			---			2,103,579
Operating Expenses
Salaries and benefits		1,446,243			920,339			2,366,582			1,395,455			626,990			2,022,445
General and administrative		903,019			1,937,765			2,840,784			854,080			994,786			1,848,866
Depreciation and amortization		21,870			1,912			23,782			22,387			1,219			23,606
Total Operating Expenses		2,371,132			2,860,016			5,231,148			2,271,922			1,622,995			3,894,917
Loss from operations	$	(112,130	)	$	(2,860,016	)	$	(2,972,146	)	$	(168,343	)	$	(1,622,995	)	$	(1,791,338	)
Other Segment Information
Interest expense	$	24,356		$	168,753		$	193,109		$	22,857		$	76,811		$	99,668
Loss on extinguishment of debt	$	---		$	393,123		$	393,123		$	---		$	290,581		$	290,581
Financing cost	$	---		$	1,221,911		$	1,221,911		$	---		$	72,956		$	72,956
Amortization of original issue and debt discounts on convertible notes	$	---		$	763,616		$	763,616		$	---		$	330,435		$	330,435
Change in fair value of debt	$	---		$	140,789		$	140,789		$	---		$	---		$	---
Change in fair value of derivative financial instruments	$	---		$	106,141		$	106,141		$	---		$	(3,967	)	$	(3,967	)
Identifiable assets	$	184,912		$	242,451		$	427,363		$	269,424		$	170,359		$	439,783

During the years ended December 31, 2018 and 2017, HLYK realized revenue of $13,388 and $4,414, respectively, to subscription revenue billed to and paid for by NWC physicians for access to the HealthLynked Network, which the Company test-launched during the third quarter of 2017. The revenue for HLYK and related expense for NWC were eliminated on consolidation.