ACCOUNTS RECEIVABLE, MEDICAL RECEIVABLE AND MANAGEMENT AND OTHER FEES RECEIVABLE

12 Months Ended

Jun. 30, 2024

Receivables [Abstract]

ACCOUNTS RECEIVABLE, MEDICAL RECEIVABLE AND MANAGEMENT AND OTHER FEES RECEIVABLE

 NOTE 3 – ACCOUNTS RECEIVABLE, MEDICAL RECEIVABLE AND MANAGEMENT AND OTHER FEES RECEIVABLE

Long Term Accounts Receivable

Long term accounts receivable balances at June 30, 2024 and June 30, 2023 amounted to $829,473 and $710,085, respectively. The Company will generate revenue from long-term, non-cancellable contracts to provide service and repair services. Future revenue to be recognized over the following four years at June 30, 2024 is as follows:

2026	$	631,415
2027		369,429
2028		87,000
2029		87,000
Total	$	1,174,844

 The following represents a summary of allowance for credit losses for the years ended June 30, 2024 and 2023, respectively:

Description	Balance June 30, 2023		Additions(Recovery) (1)			Deductions		Balance June 30, 2024
Accounts receivable	$	198,593	$	—		$	32,544	$	166,049
Management and other fees receivable		12,608,567		(238,646	)		—		12,369,921
Management and other fees receivable - related medical practices		3,989,692		2,120,707			—		6,110,399
Notes receivable		777,354		—			—		777,354

	Balance						Balance
Description	June 30, 2022		Additions		Deductions		June 30, 2023
Accounts receivable	$	204,597	$	55,000	$	61,004	$	198,593
Management and other fees receivable		16,627,917		4,007,382		8,026,732		12,608,567
Management and other fees receivable - related medical practices		4,686,893		1,451,094		2,148,295		3,989,692
Notes receivable		777,354		—		—		777,354

(1) Included in provision for credit losses.

Net revenues from management and other fees charged to the related party medical practices accounted for approximately 12% and 12%, of the consolidated net revenues for the years ended June 30, 2024 and 2023, respectively.

Tallahassee Magnetic Resonance Imaging, PA, Stand Up MRI of Boca Raton, PA and Stand Up MRI & Diagnostic Center, PA (all related party medical practices) entered into a guaranty agreement, pursuant to which they cross guaranteed all management fees which are payable to the Company, which have arisen under each individual management agreement.

The following table sets forth the number of our facilities for the years ended June 30, 2024 and 2023.

Total Facilities

	For the Year Ended June 30,
	2024		2023
Total Facilities Owned or Managed (at Beginning of Year)		27		27
Facilities Added by:
Internal development		1		1
Managed Facilities Closed		—		(1	)
Total Facilities Owned or Managed (at End of Year)		28		27