NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Estimated Useful Life in Years for Property and Equipment

The estimated useful lives in years of property and equipment are generally as follows:

Diagnostic equipment	5–13
Research, development and demonstration equipment	3-7
Machinery and equipment	2-7
Furniture and fixtures	3-9
Leasehold improvements	2–10
Building	28

Patient Fee Revenue - Net

The Company’s patient fee revenues, net of contractual allowances and discounts less the provision for bad debts for the years ended June 30, 2019, 2018 and 2017 are summarized in the following table:

	For the Year Ended June 30,
	2019		2018			2017
Commercial Insurance/ Managed Care	$	5,218,656	$	4,729,514		$	4,904,892
Medicare/Medicaid		1,172,543		1,233,078			1,274,436
Workers' Compensation/Personal Injury		16,790,025		25,358,543			23,240,829
Other		1,026,312		7,844,278			6,980,443
Patient Fee Revenue, net of contractual allowances and discounts		24,207,536		39,165,413			36,400,600
Provision for Bad Debts		—		(17,896,528	)		(16,171,434	)
Net Patient Fee Revenue	$	24,207,536	$	21,268,885		$	20,229,166

Earnings Per Share

Basic earnings per share (“EPS”) is computed by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects the potential dilution from the exercise or conversion of all dilutive securities into common stock based on the average market price of common shares outstanding during the period. For the years ended June 30, 2019, 2018 and 2017, diluted EPS for common shareholders includes 127,504 shares upon conversion of Class C Common.

	June 30, 2019
Basic	Total		Common Stock		Class C Common Stock
Numerator:
Net income available to common stockholders	$	15,317,131	$	14,366,798	$	242,031
Denominator:
Weighted average shares outstanding		6,354,103		6,354,103		382,513
Basic income per common share	$	2.41	$	2.26	$	0.63
Diluted
Denominator:
Weighted average shares outstanding				6,354,103		382,513
Class C Common Stock				127,504		—
Total Denominator for diluted earnings per share				6,481,607		382,513
Diluted income per common share			$	2.22	$	0.63

	June 30, 2018
Basic	Total		Common Stock		Class C Common Stock
Numerator:
Net income available to common stockholders	$	21,230,802	$	19,899,823	$	338,974
Denominator:
Weighted average shares outstanding		6,287,510		6,287,510		382,513
Basic income per common share	$	3.38	$	3.16	$	0.89
Diluted
Denominator:
Weighted average shares outstanding				6,287,510		382,513
Class C Common Stock				127,504		—
Total Denominator for diluted earnings per share				6,415,014		382,513
Diluted income per common share			$	3.10	$	0.89

	June 30, 2017
Basic	Total		Common Stock		Class C Common Stock
Numerator:
Net income available to common stockholders	$	19,620,621	$	18,390,586	$	313,266
Denominator:
Weighted average shares outstanding		6,161,599		6,161,599		382,513
Basic income per common share	$	3.18	$	2.98	$	0.82
Diluted
Denominator:
Weighted average shares outstanding				6,161,599		382,513
Class C Common Stock				127,504		—
Total Denominator for diluted earnings per share				6,289,103		382,513
Diluted income per common share			$	2.92	$	0.82