Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITY (Tables)

v3.10.0.1
VARIABLE INTEREST ENTITY (Tables)
6 Months Ended
Jun. 30, 2018
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, 2018 and December 31, 2017:

 

   

June 30,

2018

 

December 31,

2017

Current assets:                
Cash   $ 572,446     $ 238,402  
Accounts receivable, net     4,533,012       3,526,789  
Other current assets     944,829       765,236  
Total current assets     6,050,287       4,530,427  
Property and equipment, net     216,891       73,791  
Other assets     22,005       22,005  
Total assets   $ 6,289,183     $ 4,626,223  
Current liabilities:                
Accounts payable and accrued liabilities   $ 1,005,919     $ 628,304  
Due to First Choice Healthcare Solutions, Inc.     2,857,725       1,700,210  
Other current liabilities     440,024       485,432  
Total current liabilities     4,303,668       2,813,946  
Long term debt     2,124,201       1,950,963  
Total liabilities     6,427,869       4,764,909  
Non-controlling interest     (138,686 )     (138,686 )
Total liabilities and deficit   $ 6,289,183     $ 4,626,223  

 

The tables below summarize the assets and liabilities associated with the Crane Creek as of December 31, 2017 (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