Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events

Note 18 – Subsequent Events


HHS Provider Relief Funds


In comparison to the September 19, 2020 Notice on which the Company’s estimate of HHS Provider Relief Funds as of September 30, 2020 is based, the October 22, 2020 Notice discussed in Note 1 includes two primary changes: (1) the definition of lost revenue is changed to refer to the negative year-over-year difference in 2019 and 2020 actual revenue from patient care related sources as opposed to the negative year-over-year change in net patient care operating income, and (2) the definition of reporting entities is broadened to include the parent of one or more subsidiary tax identification numbers that received general distribution payments, entities having providers associated with it that provide diagnoses, testing or treatment for cases of COVID-19, or entities that can otherwise attest to the terms and conditions. While now codified in the October 22, 2020 Notice, guidance permitting parent companies to allocate general fund distributions to subsidiaries was previously set forth in FAQs published by HHS and as such, the Company’s estimate of pandemic relief funds as of September 30, 2020 includes the allocation of certain general funds among subsidiaries. Regarding the amended definition of lost revenues, such change serves to increase amounts eligible to be recognized as income, as compared to the September 19, 2020 Notice. The Company’s evaluation of the October 22, 2020 Notice is ongoing and the amount by which the approximately $4.4 million of deferred Provider Relief Funds as of September 30, 2020 may be recognized as a result of the October 22, 2020 Notice is not yet known. U.S. GAAP does not permit amounts recognized as of September 30, 2020 to be updated on the basis of new information in the October 22, 2020 Notice.


Issuance of Common Stock


Subsequent to September 30, 2020 and through November 12, 2020, the Company issued an aggregate of 2,076,750 shares of common stock for conversions of preferred stock.


The following table presents the dilutive effect of our various potential common shares as of November 12, 2020.


    November 12, 2020  
Common shares outstanding     3,943,679   
Dilutive potential shares:        
Stock options     26  
Warrants     987,961,512  
Convertible debentures     150,590,476  
Convertible preferred stock     888,763,212  
Total dilutive potential common shares, including outstanding common stock     2,031,258,905