Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash
Accounts receivable, net 6,619,655 971,312
Inventory 662,530 236,914
Prepaid expenses and other current assets 231,195 9,842
Income tax refunds receivable 1,940,845 1,940,845
Current assets of AMSG and HTS classified as held for sale 225,640 226,732
Total current assets 9,679,865 3,385,645
Property and equipment, net 9,136,994 2,695,440
Intangibles, net 444,413
Deposits 156,864 180,875
Non-current assets of AMSG and HTS classified as held for sale 14,648 28,834
Total assets 19,432,784 6,290,794
Current liabilities:    
Accounts payable (includes related parties of $0.3 and $0.2 million, respectively) 7,746,626 4,188,678
Accrued expenses (includes related parties of $0.1 and $0.1 million, respectively) 8,908,303 4,967,405
Income taxes payable 1,959,349 1,971,592
Current portion of notes payable 6,701,349 6,957,830
Current portion of notes payable, related parties 450,000 1,128,500
Current portion of capital lease obligations 941,687 2,079,137
Current portion of debentures 10,533,591 1,615,693
Derivative liabilities 357,797 12,435,250
Current liabilities of AMSG and HTS classified as held for sale 2,129,422 1,972,854
Total current liabilities 39,728,124 37,316,939
Other liabilities:    
Debentures, net of current portion 3,752,022
Capital lease obligations, net of current portion 39,940
Total liabilities 39,768,064 41,068,961
Stockholders' deficit:    
Common stock, $0.0001 par value, 10,000,000,000 shares authorized, 7,365,881 and 39,502 shares issued and outstanding 737 4
Additional paid-in-capital 160,817,545 128,549,458
Accumulated deficit (190,973,014) (169,180,425)
Total stockholders' deficit (30,134,730) (40,613,461)
Total liabilities and stockholders' deficit 19,432,784 6,290,794
Redeemable Preferred Stock I-1 [Member]    
Other liabilities:    
Redeemable Preferred Stock 5,835,294 5,835,294
Redeemable Preferred Stock I-2 [Member]    
Other liabilities:    
Redeemable Preferred Stock 3,964,156
Series G Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock value 2 2
Series H Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock value
Series F Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock value 17,500 17,500
Series J Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock value $ 2,500 $ 2,500

Source

v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Net revenues $ 5,039,112 $ 810,088 $ 9,932,989 $ 1,568,918
Operating expenses:        
Direct costs of revenue 3,350,286 262,000 7,809,465 717,234
General and administrative 4,348,818 4,454,167 10,238,891 10,935,179
Sales and marketing expenses 2,758 170,028 1,543 617,080
Depreciation and amortization 152,825 426,582 804,074 1,273,435
Total operating expenses 7,854,687 5,312,777 18,853,973 13,542,928
Loss from continuing operations before other income (expense) and income taxes (2,815,575) (4,502,688) (8,920,984) (11,974,010)
Other income (expense):        
Other income 188,658 40,455 609,719 91,212
Gain on Bargain Purchase (7,732,302)
Change in fair value of derivative instruments 109,305,331 13,688,678 (42,702,815)
Gain on extinguishment of debt (23,000) 42,702,815
Interest expense (9,322,333) (5,331,673) (17,075,437) (16,510,517)
Total other income (expense), net 100,171,656 (5,314,218) 4,955,262 (16,442,305)
Net income (loss) from continuing operations before income taxes 97,356,081 (9,816,906) (3,965,722) (28,416,314)
Income tax expense 372 76 3,622
Net income (loss) from continuing operations 97,356,081 (9,817,278) (3,965,798) (28,419,936)
Net income (loss) from discontinued operations (159,430) (1,007,959) (115,787) 2,752,173
Net income (loss) 97,196,652 (10,825,237) (3,850,011) (31,172,104)
Deemed dividend from trigger of down round provision feature (17,942,578) (2,280,280) (17,942,578) (53,341,619)
Net income (loss) to common shareholders $ 79,254,074 $ (13,105,517) $ (21,792,589) $ (84,513,723)
Net income (loss) per common share:        
Basic continuing operations $ 17.60 $ (4,083) $ (1.55) $ (20,793)
Diluted continuing operations (0.08) (4,083) (1.55) (20,793)
Basic discontinued operations (0.03) (419) 0.05 (2,014)
Diluted discontinued operations (0.00) (419) 0.05 (2,014)
Basic net income (loss) 14.33 (5,450) (8.54) (61,832)
Diluted net loss $ (0.46) $ (5,450) $ (8.54) $ (61,832)
Weighted average number of common shares outstanding during the period:        
Basic 5,531,767 2,405 2,550,632 1,367
Diluted 81,951,541 2,405 2,550,632 1,367

Source

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows used in operating activities:    
Net income (loss) from continuing operations $ (3,965,798) $ (28,419,936)
Adjustments to reconcile net income (loss) to net cash used in operations:    
Depreciation and amortization 804,074 1,273,435
Gain on sale of fixed assets (549,524)
Stock issued for services 161,003
Stock-based compensation 739,729 34,081
Non-cash interest expense 8,441,043
Amortization of debt discount 16,080,270 6,228,352
Gain on purchase of Jamestown Medical Center (7,732,302)
Non-cash settlement of debt (50,000)
Gain on extinguishment of debt (42,702,815)
Change in fair value of derivative instruments (13,688,678) 42,702,815
Income (loss) from discontinued operations 115,787 (2,752,173)
Changes in operating assets and liabilities:    
Accounts receivable (5,648,343) 828,450
Inventory 25,066 (73,732)
Prepaid expenses and other current assets 85,185 6,592
Security deposits 27,857 (14,559)
Accounts payable 3,497,210 1,378,419
Accrued expenses 3,728,038 2,067,818
Income tax assets and liabilities (12,243) (451,997)
Net cash used in operating activities of continuing operations (6,493,672) (11,343,204)
Net cash used in discontinued operations (628,154) (449,925)
Net cash used in operating activities (7,121,826) (11,793,129)
Cash flows provided by (used in) investing activities:    
Purchase of Jamestown Regional Medical Center, net of cash acquired (668,983)
Sale of property and equipment 433,612
Purchase of property and equipment (103,387) (1,554,499)
Net cash used in investing activities of continuing operations (338,758) (1,554,499)
Net cash provided by investing activities of discontinued operations 800,000 1,936
Net cash provided by (used in) investing activities 461,242 (1,552,563)
Cash flows provided by financing activities:    
Proceeds from issuance of related party notes payable and advances 3,805,000
Proceeds from issuance of debentures 8,000,000 15,742,500
Payments on related party notes payable and advances (428,500) (3,860,000)
Payments on notes payable (256,481) (1,042,524)
Payments on capital lease obligations (654,435) (1,342,970)
Net cash provided by financing activities of continuing operations 6,660,584 13,302,006
Net cash used in financing activities of discontinued operations
Net cash provided by financing activities 6,660,584 13,302,006
Net increase (decrease) in cash (43,686)
Cash at beginning of period 70,173
Cash at end of period $ 26,487

Source