Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.19.3
Acquisitions (Tables)
3 Months Ended
Mar. 31, 2019
Business Combinations [Abstract]  
Schedule of Assets Acquired and Liabilities Assumed

The following table shows the 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 fair value:        
Cash   $ 375  
Inventories     450,682  
Prepaids and deposits     310,385  
Property and equipment     7,129,484  
Intangible assets     504,806  
Accrued expenses     (193,966 )
Net tangible and intangible assets acquired   $ 8,201,766  
Gain on bargain purchase   $ 7,566,670  

 

The following table shows the preliminary allocation of the purchase price of Jellico Community Hospital and CarePlus Center to the acquired identifiable assets acquired, and liabilities assumed:

 

Total purchase price   $ 658,537  
Tangible and intangible assets acquired, and liabilities assumed at estimated fair value:        
Inventories   $ 317,427  
Property and equipment     500,000  
Intangible asset- certificate of need     250,000  
Accrued expenses     (158,890 )
Net tangible and intangible assets acquired   $ 908,537  
Gain on bargain purchase   $ 250,000  

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 and Jellico Community Hospital and CarePlus Center as if the acquisitions had occurred on January 1, 2018. The unaudited pro-forma results of operations are presented for information purposes only. The unaudited pro-forma results of operations are not intended to present actual results that would have been attained had the acquisitions been completed as of January 1, 2018 or to project potential operating results as of any future date or for any future periods.

 

    Three Months Ended March 31,  
    2019     2018  
       
Net revenue   $ 6,908,270     $ 8,918,189  
Net loss from continuing operations     (13,133,608 )     (148,397,145 )
Deemed dividend from trigger of down round provision feature     (123,861,587 )      
Net (loss) income from discontinued operations     (508,609 )     421,793  
Net loss to common stockholders   $ (137,503,804 )   $ (147,975,352 )
                 
Net loss per common share:                
Basic and diluted continuing operations   $ (0.10 )   $ (334.31 )
Basic and diluted net loss   $ (0.10 )   $ (333.36 )