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NOTE 20 - SUBSEQUENT EVENTS
12 Months Ended
Jun. 30, 2015
Subsequent Events [Abstract]  
NOTE 20 - SUBSEQUENT EVENTS

NOTE 20 – SUBSEQUENT EVENTS

 

The Company evaluates events that have occurred after the balance sheet date, but before the consolidated financial statements are issued.

 

Effective July 1, 2015, the Company restructured the corporate organization of the management of diagnostic imaging centers segment of our business. The reorganization was structured to more completely integrate the operations of Health Management Corporation of America and HDM. Imperial contributed all of its assets (which were utilized in the business of Health Management Corporation of America) to HDM and received a 24.2% interest in HDM. Health Management Corporation of America retained a direct ownership interest of 45.8% in HDM, and the original investors in HDM retained a 30.0% ownership interest in the newly expanded HDM. The entire management of diagnostic imaging centers business segment is now being conducted by HDM.

 

During August 2015, the Company entered into a new lease for its principal office in Melville, New York. The lease commences on August 1, 2015 and expires on November 30, 2026.