Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.4.0.3
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Revenues    
Gross charges, net of contractual allowances and discounts $ 37,887,068 $ 77,223,964
Provision for bad debts (19,494,030) (19,296,144)
Net Revenues 18,393,038 57,927,820
Operating expenses:    
Direct costs of revenue 9,339,644 15,920,468
General and administrative 27,346,160 19,712,018
Legal fees related to disputed subsidiary 0 94,217
Sales and marketing expenses 3,763,802 4,967,188
Engineering 415,482 0
Bad debt 99,754 78,482
Impairment of goodwill and intangible assets 20,143,320 0
Depreciation and amortization 2,749,850 1,500,453
Total operating expenses 63,858,012 42,272,826
Income (Loss) from operations (45,464,974) 15,654,994
Other income (expense):    
Other income 252 489
Realized gain on derivative instruments 2,327,756 0
Unrealized gain (loss) on derivative instruments 560,990 0
Gain on disposition of subsidiary 0 134,184
Gain (Loss) on legal settlement 275,028 105,780
Interest expense (2,689,811) (513,815)
Total other income (expense) 474,215 (273,362)
Income (Loss) before income taxes (44,990,759) 15,381,632
Provision for income taxes (9,028,253) 7,561,300
Net income (loss) attributable to Rennova Health (35,962,506) 7,820,332
Preferred stock dividends 1,627,188 5,010,300
Net income (loss) attributable to Rennova Health common shareholders $ (37,589,694) $ 2,810,032
Net income (loss) per common share: Basic $ (3.02) $ .23
Net income (loss) per common share: Diluted $ (3.02) $ .22
Weighted average number of shares outstanding during the period - Basic 12,465,486 12,247,978
Weighted average number of shares outstanding during the period - Diluted 12,465,486 12,667,858