Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 7,058
Accounts receivable, net 2,920,100 971,312
Inventory 727,285 236,914
Prepaid expenses and other current assets 303,258 9,842
Income tax refunds receivable 1,940,845 1,940,845
Current assets of AMSG and HTS classified as held for sale 269,526 226,732
Total current assets 6,168,072 3,385,645
Property and equipment, net 9,436,824 2,695,440
Intangibles, net 444,413
Deposits 179,458 180,875
Non-current assets of AMSG and HTS classified as held for sale 17,478 28,834
Total assets 16,246,245 6,290,794
Current liabilities:    
Accounts payable (includes related parties of $0.3 and $0.2 million, respectively) 4,887,281 4,188,678
Accrued expenses (includes related parties of $0.1 and $0.1 million, respectively) 6,699,998 4,967,405
Income taxes payable 1,968,229 1,971,592
Current portion of notes payable 6,701,349 6,957,830
Current portion of notes payable, related parties 1,718,500 1,128,500
Current portion of capital lease obligations 1,246,853 2,079,137
Current portion of debentures 1,833,705 1,615,693
Derivative liabilities 102,940,555 12,435,250
Current liabilities of AMSG and HTS classified as held for sale 2,031,814 1,972,854
Total current liabilities 130,028,284 37,316,939
Other liabilities:    
Debentures, net of current portion 8,128,607 3,752,022
Capital lease obligations, net of current portion 163,917
Total liabilities 138,320,808 41,068,961
Stockholders' deficit:    
Common stock, $0.01 par value, 3,000,000,000 and 500,000,000 shares authorized, 1,591,673,800 and 19,750,844 shares issued and outstanding 15,916,738 197,508
Additional paid-in-capital 124,346,871 128,351,954
Accumulated deficit (270,227,086) (169,180,425)
Total stockholders' deficit (129,945,975) (40,613,461)
Total liabilities and stockholders' deficit 16,246,245 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 2,036,118
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

Source

v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Net revenues $ 3,292,217 $ 74,565 $ 4,893,877 $ 758,830
Operating expenses:        
Direct costs of revenue 2,369,813 210,403 4,459,179 455,234
General and administrative 2,998,055 3,164,563 5,890,073 6,481,011
Sales and marketing expenses 194,738 (1,215) 447,052
Depreciation and amortization 317,734 419,924 651,248 846,853
Total operating expenses 5,685,602 3,989,628 10,999,285 8,230,150
Loss from continuing operations before other income (expense) and income taxes (2,393,385) (3,915,063) (6,105,408) (7,471,320)
Other income (expense):        
Other income 409,092 50,757 421,061 50,757
Gain on Bargain Purchase 7,732,302 7,732,302
Change in fair value of derivative instruments 44,162,579 (95,616,653) (42,702,815)
Gain on extinguishment of debt 42,702,815
Interest expense (4,446,090) (6,135,982) (7,753,103) (11,178,844)
Total other income (expense), net 47,857,883 (6,085,225) (95,216,393) (11,128,087)
Net income (loss) from continuing operations before income taxes 45,464,498 (10,000,288) (101,321,801) (18,599,407)
Income tax expense 76 3,250
Net income (loss) from continuing operations 45,464,498 (10,000,288) (101,321,877) (18,602,657)
Net income (loss) from discontinued operations (146,577) (677,921) (275,216) 1,744,209
Net income (loss) 45,317,921 (10,678,209) (101,046,661) (20,346,866)
Deemed dividend from trigger of down round provision feature (3,508,587) (51,061,339)
Net income (loss) to common shareholders $ 45,317,921 $ (14,186,796) $ (101,046,661) $ (71,408,205)
Net income (loss) per common share:        
Basic continuing operations $ 0.06 $ (19.75) $ (0.20) $ (44.74)
Diluted continuing operations (0.00) (19.75) (0.20) (44.74)
Basic discontinued operations (0.00) (1.34) 0.00 (4.20)
Diluted discontinued operations (0.00) (1.34) 0.00 (4.20)
Basic net income (loss) 0.06 (28.02) (0.20) (171.75)
Diluted net loss $ (0.00) $ (28.02) $ (0.20) $ (171.75)
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

Source

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows used in operating activities:    
Net loss from continuing operations $ (101,321,877) $ (18,602,657)
Adjustments to reconcile net income (loss) to net cash used in operations:    
Depreciation and amortization 651,248 846,853
Gain on sale of fixed assets (391,103)
Stock-based compensation 661,286 69,230
Gain on purchase of Jamestown Regional Medical Center (7,732,302)
Non-cash interest expense 7,418,722
Amortization of debt discount 7,072,228 2,498,120
Non-cash settlement of debt (50,000)
Gain on extinguishment of debt (42,702,815)
Change in fair value of derivative instruments 95,616,653 42,702,815
Income (loss) from discontinued operations 275,216 (1,744,209)
Changes in operating assets and liabilities:    
Accounts receivable (1,948,788) 908,269
Inventory (39,689)
Prepaid expenses and other current assets 13,122 (71,845)
Security deposits 5,263 10,441
Accounts payable 637,865 452,327
Accrued expenses 1,519,733 (35,147)
Income tax assets and liabilities (3,363) (346,997)
Net cash used in operating activities of continuing operations (4,984,508) (8,646,898)
Net cash (used in) provided by discontinued operations (772,478) 35,414
Net cash used in operating activities (5,756,986) (8,611,484)
Cash flows provided by (used in) investing activities:    
Purchase of Jamestown Regional Medical Center, net of cash acquired (634,721)
Sale of property and equipment 433,612
Purchase of property and equipment (1,394,087)
Net cash used in investing activities of continuing operations (201,109) (1,394,087)
Net cash provided by investing activities of discontinued operations 800,000 1,936
Net cash provided by (used in) investing activities 598,891 (1,392,151)
Cash flows provided by financing activities:    
Proceeds from issuance of related party notes payable and advances 590,000 3,715,000
Proceeds from issuance of debentures 5,500,000 11,642,500
Payments on related party notes payable and advances (3,550,000)
Payments on notes payable (256,481) (716,998)
Payments on capital lease obligations (668,366) (1,141,166)
Net cash provided by financing activities of continuing operations 5,165,153 9,949,336
Net cash used in financing activities of discontinued operations
Net cash provided by financing activities 5,165,153 9,949,336
Net increase (decrease) in cash 7,058 (54,299)
Cash at beginning of period 70,173
Cash at end of period $ 7,058 $ 15,874

Source