Annual report pursuant to Section 13 and 15(d)

12. Business Combinations (Tables)

v3.7.0.1
12. Business Combinations (Tables)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Proforma information
    For the Year Ended December 31, 2015  
      Rennova Health, Inc. Historical       CollabRx, Inc. (a)       Pro-Forma Adjustments       Combined  
                                 
Net Revenues   $ 18,393,038     $ 425,000     $     $ 18,818,038  
                                 
Operating Expenses     63,858,012       4,881,000             67,507,045  
                                 
Income (Loss) from operations     (45,464,974 )     (4,456,000 )           (48,689,007 )
                                 
Other income (expense)     474,215       (43,000 )           431,215  
                                 
Income (Loss) before income taxes     (44,990,759 )     (4,499,000 )           (48,257,792 )
                                 
Provision for income taxes     (9,028,253 )     (269,000 )     (b)     (9,297,253 )
                                 
Net income (loss) attributable to Rennova Health     (35,962,506 )     (4,230,000 )           (38,960,539 )
                                 
Preferred stock dividends     1,627,188             (1,627,188 )(c)      
                                 
Net income (loss) attributable to Rennova Health common shareholders   $ (37,589,694 )   $ (4,230,000 )   $ 1,627,188     $ (38,960,539 )
                                 
Net income (loss) per common share:                                
Basic   $ (90.46 )                   $ (87.88 )
Diluted   $ (90.46 )                   $ (87.88 )
                                 
Weighted average number of common shares outstanding during the period:                                
Basic     415,517                       443,322  
Diluted     415,517                       443,322  

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  (a) Reflects 2015 and 2014 results of operations prior to the acquisition dates. Clinlab was acquired on March 18, 2014, Epinex was acquired on August 26, 2014 and CollabRx was acquired on November 2, 2015. For the year ended December 31, 2014, CollabRx is included using its fiscal year ended March 31, 2015 financial statements.
  (b) Reflects changes in taxes, if any, resulting from including the aggregate net losses of acquired operations in the corporate tax return.
  (c) Reflects elimination of preferred stock dividend accruals resulting from the reverse merger with CollabRx.

 

 
CollabRx [Member]    
Consideration allocation for acquisitions  
Cash   $ 4,737,773  
Accounts receivable     54,675  
Other current assets     105,700  
Property and equipment     92,636  
Accounts payable and accrued expenses     (1,620,000 )
Deferred revenue     (123,000 )
Other liabilities     (520,070 )
Derivative liabilities     (1,578,976 )
Identifiable intangible assets     170,000  
Total identifiable net assets     1,318,738  
Goodwill     12,192,039  
Total consideration   $ 13,510,777