Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITY (Tables)

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VARIABLE INTEREST ENTITY (Tables)
9 Months Ended
Sep. 30, 2018
Variable Interest Entity Tables Abstract  
Schedule of Variable Interest Entities

The tables below summarize the assets and liabilities associated with The B.A.C.K. Center as of September 30, 2018 and December 31, 2017:

 

    September 30,   2018   December 31,   2017
Current assets:                
Cash   $ 523,388     $ 238,402  
Accounts receivable, net     4,537,938       3,526,789  
Other current assets     951,305       765,236  
Total current assets     6,012,631       4,530,427  
Property and equipment, net     221,853       73,791  
Other assets     22,005       22,005  
Total assets   $ 6,256,489     $ 4,626,223  
Current liabilities:                
Accounts payable and accrued liabilities   $ 943,361     $ 628,304  
Due to First Choice Healthcare Solutions, Inc.     2,887,047       1,700,210  
Other current liabilities     464,998       485,432  
Total current liabilities     4,295,406       2,813,946  
Long term debt     2,099,769       1,950,963  
Total liabilities     6,395,175       4,764,909  
Non-controlling interest     (138,686 )     (138,686 )
Total liabilities and deficit   $ 6,256,489     $ 4,626,223  

 

 

The tables below summarize the assets and liabilities associated with the Crane Creek (as a VIE): 

    December 31. 
2017
Current assets:        
Cash   $ 464,074  
Accounts receivable, net     893,817  
Other current assets     151,040  
Total current assets     1,508,931  
Property and equipment, net     396,136  
Goodwill     899,465  
Total assets   $ 2,804,532  
Current liabilities:        
Accounts payable and accrued liabilities   $ 852,208  
Capital leases, short term     12,001  
Other current liabilities     251,588  
Total current liabilities     1,115,797  
Capital leases, long term     47,049  
Deferred rent     559,239  
Total liabilities     1,722,085  
         
Equity-First Choice Healthcare Solutions, Inc.     432,979  
Non-controlling interest     649,468  
Total liabilities and deficit   $ 2,804,532