XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUE:        
Dental practice revenue $ 14,542,690 $ 13,988,133 $ 42,915,170 $ 44,009,444
Capitation revenue 1,001,297 1,166,155 3,068,716 3,461,218
Total Revenue 15,543,987 15,154,288 45,983,886 47,470,662
DIRECT EXPENSES:        
Clinical salaries and benefits 9,680,390 9,242,477 28,398,877 28,564,107
Dental supplies 674,402 729,299 1,974,995 2,187,229
Laboratory fees 874,102 869,014 2,687,004 2,648,658
Occupancy 1,637,622 1,591,841 4,840,771 4,712,445
Advertising and marketing 148,257 176,150 485,628 490,227
Depreciation and amortization 869,589 988,031 2,748,083 3,026,164
General and administrative 1,464,120 1,394,284 4,014,757 4,139,482
Total Direct Expenses 15,348,482 14,991,096 45,150,115 45,768,312
Contribution from dental offices 195,505 163,192 833,771 1,702,350
CORPORATE EXPENSES:        
General and administrative 908,267 [1] 848,358 [1] 2,879,641 [2] 2,696,123 [2]
Stock grant 0 0 175,000 [3] 0
Depreciation and amortization 38,518 47,114 123,466 165,994
OPERATING LOSS (751,280) (732,280) (2,344,336) (1,159,767)
OTHER EXPENSE:        
Interest expense, net 110,004 70,367 276,842 185,240
LOSS BEFORE INCOME TAXES (861,284) (802,647) (2,621,178) (1,345,007)
Income tax benefit (303,719) (286,131) (937,281) (497,653)
NET LOSS $ (557,565) $ (516,516) $ (1,683,897) $ (847,354)
Net loss per share of Common Stock - Basic (in dollars per share) $ (0.30) $ (0.28) $ (0.90) $ (0.46)
Net loss per share of Common Stock - Diluted (in dollars per share) $ (0.30) $ (0.28) $ (0.90) $ (0.46)
Weighted average number of shares of Common Stock and dilutive securities:        
Basic (in shares) 1,872,761 1,860,261 1,866,580 1,860,334
Diluted (in shares) 1,872,761 1,860,261 1,866,580 1,860,334
[1] Corporate expense - general and administrative includes $32,309 and $74,031 of stock-based compensation expense pursuant to ASC Topic 718 for the quarters ended September 30, 2016 and 2017, respectively.
[2] Corporate expense - general and administrative includes $123,118 and $160,286 of stock-based compensation expense pursuant to ASC Topic 718 for the nine months ended September 30, 2016 and 2017, respectively.
[3] The Company issued 12,500 shares of Common Stock under a settlement agreement with an activist shareholder group. The shares were valued at $175,000 based on the closing price of the Common Stock on the date of the grant.