Annual report pursuant to Section 13 and 15(d)

5. Accounts Receivable

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5. Accounts Receivable
12 Months Ended
Dec. 31, 2015
Receivables [Abstract]  
Accounts Receivable

Accounts receivable at December 31, 2015 and 2014 consisted of the following:

 

   

December 31,

2015

   

December 31

2014

 
Accounts receivable - laboratory services   $ 105,332,339     $ 74,551,707  
Accounts receivable - all others     569,351       405,706  
Total accounts receivable     105,901,690       74,957,413  
Less:                
Allowance for discounts     (97,577,130 )     (55,913,780 )
Allowance for bad debts     (175,076 )     (1,579,686 )
Accounts receivable, net   $ 8,149,484     $ 17,463,947  

 

For the years ended December 31, 2015 and 2014, bad debt expense totalled $19,593,784 and $19,374,626. Of which amounts $19,494,030 and $19,296,144 were classified as contra-revenue, respectively.