Praxsyn Corp (PXYN)

[OhManIDied]

Calculated from 10-Q

We know that the gross revenues was $49,353,084 for Q2.
Net revenue (47.09% of gross) was 23,242,709

Assets (from three months ended June 30th, 2014):
Accounts Receivable: 8,523,170

(8,523,170/23,242,709) * 100= 36.67%

The "interest expense" was $9,558,629. If this was all factoring expense, (which it is not) it can only account for 75% of gross billings. Again, it's not ALL factoring expense because it includes the more typical "interest expenses" you would expect from debts/loans.

Overall, in-house collections in Q2 were undoubtedly between 25% and 37%, but I believe the latter figure is well-justified.

OMID, are you saying that in Q2 37% of ARs were kept in-house? If so, where is that number coming from? Directly from the 10Q? Or are you calculating it as (Gross Billing - Factored Gross Billing)?