Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITY (Tables)

v3.7.0.1
VARIABLE INTEREST ENTITY (Tables)
6 Months Ended
Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities

The tables below summarize the assets and liabilities associated with The B.A.C.K. Center as of June 30, 2017 and December 31, 2016:

 

   

June 30,

2017

   

December 31,

2016

 
Current assets:                
Cash   $ 608,790     $ 355,491  
Accounts receivable     4,860,247       4,830,054  
Other current assets     827,864       691,847  
Total current assets     6,296,901       5,877,392  
Property and equipment, net     75,245       70,444  
Other assets     22,005       22,005  
Total assets   $ 6,394,151     $ 5,969,841  
Current liabilities:                
Accounts payable and accrued liabilities   $ 987,774     $ 904,684  
Due to First Choice Healthcare Solutions, Inc.     3,159,066       2,867,539  
Other current liabilities     677,447       677,446  
Total current liabilities     4,824,287       4,449,669  
Long term debt     1,708,550       1,658,858  
Total liabilities     6,532,837       6,108,527  
Non-controlling interest     (138,686 )     (138,686 )
Total liabilities and deficit   $ 6,394,151     $ 5,969,841  

 

The tables below summarize the assets and liabilities associated with the Crane Creek as of June 30, 2017 and December 31, 2016:

 

   

June 30,

2017

   

December 31,

2016

 
Current assets:                
Cash   $ 313,182     $ 353,367  
Accounts receivable     1,222,641       1,180,907  
Other current assets     116,757       129,430  
Total current assets     1,652,580       1,663,704  
Property and equipment, net     578,647       623,185  
Goodwill     899,465       899,465  
Total assets   $ 3,130,692     $ 3,186,354  
 Current liabilities:                
Accounts payable and accrued liabilities   $ 635,366     $ 461,489  
Other current liabilities     251,588       251,588  
Total current liabilities     886,954       713,077  
Deferred rent     557,645       556,051  
Total liabilities     1,444,599       1,269,128  
                 
Equity-First Choice Healthcare Solutions, Inc.     674,438       766,891  
Non-controlling interest     1,011,655       1,150,335  
Total liabilities and deficit   $ 3,130,692     $ 3,186,354