Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.4.0.3
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from (used in) operating activities:    
Net income (loss) $ (35,962,506) $ 7,820,332
Adjustments to reconcile net income (loss) to net cash provided by operations:    
Depreciation and amortization 2,749,850 1,500,453
Non-cash gain on derivative instruments (2,888,746) 0
Stock issued in lieu of cash compensation 2,905,000 162,500
Stock issued for services 0 180,000
Stock-based compensation 722,829 509,585
Bad debts 99,754 78,482
Impairment of goodwill and intangible assets 20,143,320 0
Accretion of beneficial conversion feature as interest 1,146,422 3,278
Accretion of debt discount 380,000 0
Write-off of deferred issuance costs 0 12,500
Gain on disposition of subsidiary 0 (134,184)
Gain on legal settlement (275,028) (105,780)
Changes in operating assets and liabilities:    
Accounts receivable 9,138,114 (6,408,774)
Prepaid expenses and other current assets (927,024) 24,025
Deposits on acquisitions 0 (259,875)
Deferred tax assets 28,300 1,720,300
Security deposits (45,279) (79,763)
Accounts payable 1,046,802 1,272,949
Accrued expenses 584,190 (840,603)
Income tax assets and liabilities (10,502,959) 2,035,206
Deferred tax liabilities (404,900) 211,100
Net cash provided by (used in) operating activities (12,561,861) 7,701,730
Cash flows provided by (used in) investing activities:    
Purchase of property and equipment (456,303) (2,491,567)
Cash paid for acquisitions 0 (1,600,000)
Cash received in acquisitions 4,737,773 68,348
Net cash provided by (used in) investing activities 4,281,470 (4,023,219)
Cash flows provided by (used in) financing activities:    
Proceeds from the sale of equity, net of offering costs of $1,156,663 8,843,337 0
Dividends on Series B preferred stock (441,311) (4,457,755)
Proceeds from issuance of notes payable, related party 5,630,000 3,000,000
Proceeds from issuance of notes payable 3,000,000 0
Payments on notes payable (1,218,459) (3,498,800)
Payments on capital lease obligations (1,106,192) (457,126)
Net cash provided by (used in) financing activities 14,707,375 (5,413,681)
Net increase (decrease) in cash 6,426,984 (1,735,170)
Cash at beginning of period 2,406,246 4,141,416
Cash at end of period 8,833,230 2,406,246
Supplemental disclosure of cash flow information:    
Cash paid for interest 624,896 510,537
Cash paid for taxes 1,386,955 3,920,633
Non-cash investing and financing activities:    
Net liabilities (assets) acquired in acquisitions, net of cash 0 (906,819)
Intangible assets 0 0
Goodwill 0 (1,713,943)
Accrued expenses 0 0
Contingent acquisition liability 0 10,217
Notes payable issued 0 385,545
Common Stock 0 1
Series D preferred stock 0 20
Series E preferred stock 0 10
Additional paid in capital 0 2,074,969
Exercise of stock options as reduction of notes payable, related party:    
Current portion of notes payable, related party (2,500,000) 0
Common stock 100 0
Additional paid-in-capital 2,499,900 0
Adjustment of goodwill for Medical Mime, Inc.:    
Accounts receivable 131,270 0
Goodwill (87,707) 0
Accounts payable (43,563) 0
Acquisition of noncontrolling interest in Biohealth Medical Laboratory, Inc.:    
Deposits on acquisitions 259,875 0
Goodwill (138,871) 0
Noncontrolling interest (121,004) 0
Acquisition of CollabRx, Inc.    
Cash 4,737,773 0
Accounts Receivable 54,675 0
Other current assets 105,700 0
Property and equipment 92,636 0
Accounts payable and accrued expenses (1,620,000) 0
Deferred revenue (123,000) 0
Other liabilities (520,070) 0
Derivative liabilities (1,578,976) 0
Identifiable intangible assets 170,000 0
Goodwill 12,237,380 0
Common stock (10,487) 0
Additional paid in capital (13,510,777) 0
Capital lease assets acquired (1,638,884) (3,043,500)
Capital lease obligations 1,638,884 3,043,500
Series D preferred stock converted to common stock:    
Series D preferred stock (20) 0
Common stock 16 0
Additional paid in capital 4 0
Series E preferred stock converted to common stock:    
Series E preferred stock (5) 0
Common stock 5 0
Additional paid in capital 0 0
Common stock issued as payment of accrued bonuses:    
Accrued bonuses 0 (525,000)
Common stock 0 21
Additional paid in capital $ 0 $ 524,979