| Schedule of Assets Acquired and Liabilites Assumed |
The following table shows the preliminary allocation
of the purchase price of Jamestown Regional Medical Center to the acquired identifiable assets acquired, and liabilities assumed:
| Total purchase price |
|
$ |
635,096 |
|
| |
|
|
|
|
| Tangible and Intangible assets acquired, and liabilities assumed at estimated fair value: |
|
|
|
|
| Cash |
|
$ |
375 |
|
| Inventories |
|
|
450,682 |
|
| Prepaids and deposits |
|
|
310,384 |
|
| Property and equipment |
|
|
7,347,467 |
|
| Intangible Assets |
|
|
452,455 |
|
| Accrued expenses |
|
|
(193,966 |
) |
| Net tangible and intangible assets acquired |
|
$ |
8,367,397 |
|
| |
|
|
|
|
| Gain on bargain purchase |
|
$ |
7,732,302 |
|
|
| Schedule of Unaudited Pro-forma of Results of Operations |
The following presents the unaudited
pro-forma combined results of operations of the Company and Jamestown Regional Medical Center as if the acquisition had occurred
on January 1, 2017.
| |
|
Three-Months Ended |
|
|
Six-Months Ended |
|
| |
|
June 30, |
|
|
June 30, |
|
| |
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
| |
|
(unaudited) |
|
|
(unaudited) |
|
| Net Revenue |
|
$ |
5,093,024 |
|
|
$ |
3,839,250 |
|
|
$ |
10,328,453 |
|
|
$ |
8,436,051 |
|
| Income (Loss) from continuing operations |
|
|
43,529,741 |
|
|
|
(11,610,404 |
) |
|
|
(106,503,432 |
) |
|
|
(21,707,605 |
) |
| Net income (loss) |
|
|
44,423,543 |
|
|
|
(11,373,767 |
) |
|
|
(104,095,132 |
) |
|
|
(21,681,965 |
) |
| Deemed dividend from trigger of down round provision feature |
|
|
- |
|
|
|
(3,508,587 |
) |
|
|
- |
|
|
|
(51,061,339 |
) |
| Net Income (loss) to common shareholders |
|
$ |
44,423,543 |
|
|
$ |
(14,882,354 |
) |
|
$ |
(104,095,132 |
) |
|
$ |
(72,743,304 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income (Loss) per share of common: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic net income (loss) continuing operations |
|
$ |
0.05 |
|
|
$ |
(22.93 |
) |
|
$ |
(0.21 |
) |
|
$ |
(52.21 |
) |
| Diluted net loss continuing operations |
|
$ |
(0.00 |
) |
|
$ |
(22.93 |
) |
|
$ |
(0.21 |
) |
|
$ |
(52.21 |
) |
| Basic net income (loss) to common shareholders |
|
$ |
0.05 |
|
|
$ |
(29.40 |
) |
|
$ |
(0.20 |
) |
|
$ |
(174.96 |
) |
| Diluted net loss to common shareholders |
|
$ |
(0.00 |
) |
|
$ |
(29.40 |
) |
|
$ |
(0.20 |
) |
|
$ |
(174.96 |
) |
| Weighted average number of common shares outstanding during the period: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
810,165,997 |
|
|
|
506,288 |
|
|
|
517,679,176 |
|
|
|
415,760 |
|
| Diluted |
|
|
11,900,106,250 |
|
|
|
506,288 |
|
|
|
517,679,176 |
|
|
|
415,760 |
|
|