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AMEH..  -  Apollo Medical Industries..APOLLO MEDICAL HOLDINGS, INC.

 

ApolloMed is a leader in providing hospitals, physician groups and managed care organizations clinical solutions through outsourced hospitalist programs. We are a physician-led group focused on providing, managing, and coordinating the care of hospitalized patients. Over past 10 years we have been able to help our partners improve clinical outcomes, increase patient satisfaction, reduce average length of stay and realize greater efficiencies through the application of best practices and quality management.

ApolloMed currently offers its services at 28 hospitals in the Greater Los Angeles Area. The Company signs exclusive contracts with its partners to staff and manage professional programs for the general care of hospitalized patients. We are able to customize our services to improve patient care and achieve financial and operational benefits for our partners. We tailor each program to meet the needs of our clients and their patients.

To learn more about how ApolloMed can help your organization, please contact us at (818) 396-8050.

 

Medical Services

  • Providing hospitalist care from the emergency room through hospital discharge
  • Admission and care of unassigned and uninsured patients
  • Inpatient internal medicine consultation services and perioperative management of surgical patients
  • Emergency room Clinical Decision Unit services to improve throughput and ease overcrowding
  • Rapid Response Team (RRT)/Code Blue
  • Proceduralist and Nocturnist services
  • Development of Evidence-Based Medicine protocols and implementation of patient safety guidelines
  • Core measures implementation and outcomes
  • Education of nurses and hospital staff
  • Coordination with hospital case managers and ancillary staff
  • Statistical analysis of performance metrics via ApolloWeb database

Solutions for Health Plans/Medical Groups/IPA’s

  • 24/7 inpatient coverage services
  • Nocturnist/Proceduralist services
  • Emergency room diversion protocol
  • Consistent communication with primary care physicians upon admission and upon discharge
  • Rapid transfer of out-of-network patients back to designated hospitals
  • Consistent communication with case managers, social workers and health plan/medical group personnel
  • Statistical analysis of performance metrics via ApolloWeb database

Solutions for Physicians

  • Inpatient services for physicians on weekends, holidays, nights or emergencies
  • Perioperative management of surgical patients
  • Internal medicine consultation services
BUSINESS SUMMARY  
Apollo Medical Holdings, Inc, together with its subsidiaries, provides management services to medical groups that provide inpatient care services in the United States. The company offers services for hospitals, such as providing care from the emergency room through hospital discharge; admission and care of unassigned and/or uninsured patients; inpatient internal medicine consultation services; emergency room clinical decision unit services; and development of hospital-based physicians programs, including pulmonary, critical care, cardiology, and nephrology. Its services for hospitals also include in-hospital inpatient coverage services; development of evidence-based medicine protocols for common diagnoses; implementation of patient safety guidelines; education of nurses and hospital staff; analysis of statistics via the ApolloWeb, a practice management software program, which allows a physician to enter patient information in real-time; and care of patients at academic medical centers, including the education of medical students, interns, and residents. The company also offers services for health carriers and medical groups, which comprise admission and care of assigned patients; communication with primary care physicians upon admission, during the patient?s hospital stay, and upon discharge; transfer of out-of-network patients back to designated hospitals; and communication with case managers, social workers, and medical group personnel, as well as hospital-based physician consulting services. Apollo Medical Holdings, Inc is headquartered in Glendale, California.

APOLLO MEDICAL HOLDINGS, INC.

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)


 

   
October 31, 2010
   
January 31, 2010
 
ASSETS
           
CURRENT ASSETS
           
Cash and cash equivalents
  $ 501,639     $ 665,737  
Accounts receivable, net
    643,107       457,517  
Receivable from officers
    8,616       23,483  
Due from affiliate
    3,900       2,850  
Prepaid expenses
    46,235       30,165  
Total current assets
    1,203,497       1,179,752  
                 
Deferred commission cost, net
    85,938       114,063  
Property and equipment, net
    7,865       11,627  
                 
TOTAL ASSETS
  $ 1,297,300     $ 1,305,442  
                 
LIABILITIES AND STOCKHOLDERS' DEFICIT
               
                 
CURRENT LIABILITIES:
               
Accounts payable and accrued liabilities
  $ 150,116     $ 104,252  
Total current liabilities
    150,116       104,252  
                 
Convertible notes, net
    1,248,186       1,247,582  
                 
Total liabilities
    1,398,302       1,351,834  
                 
STOCKHOLDERS' DEFICIT:
               
Preferred stock, par value $0.001 ;
               
5,000,000  shares authorized; none issued
    -       -  
Common Stock, par value $0.001; 100,000,000 shares authorized,
               
27,635,774 and 27,041,328 shares issued and outstanding
               
as of October 31, 2010 and January 31, 2010
    27,636       27,041  
Additional paid-in-capital
    986,266       939,483  
Accumulated deficit
    (1,343,019 )     (1,241,031 )
Total
    (329,117 )     (274,507 )
Non-controlling interest
    228,115       228,115  
Total stockholders' deficit
    (101,002 )     (46,392 )
                 
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT
  $ 1,297,300     $ 1,305,442  

 
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

 
3

 

APOLLO MEDICAL HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTH PERIODS ENDED OCTOBER 31, 2010 AND 2009
(UNAUDITED)
 
   
For the Three Month Periods Ended
   
For the Nine Month Periods Ended
 
   
October 31,
   
October 31,
 
   
2010
   
2009
   
2010
   
2009
 
                         
NET REVENUE
  $ 1,019,078     $ 616,975     $ 2,861,658     $ 1,699,100  
COST OF REVENUE
    868,119       455,183       2,407,524       1,262,430  
GROSS PROFIT
    150,959       161,792       454,134       436,670  
                                 
Operating expenses:
                               
General and administrative
    152,013       139,557       427,720       434,225  
Depreciation
    2,330       9,622       8,330       30,297  
Total operating expenses
    154,343       149,179       436,050       464,522  
                                 
INCOME/(LOSS) FROM OPERATIONS
    (3,384 )     12,613       18,084       (27,852 )
                                 
OTHER INCOME/(EXPENSES):
                               
Interest expense
    (31,748 )     (15,738 )     (94,736 )     (25,546 )
Financing cost
    (9,375 )     (25,000 )     (28,125 )     (25,000 )
Other income
    4,292       -       4,389       -  
Total other expenses
    (36,831 )     (40,738 )     (118,472 )     (50,546 )
                                 
LOSS BEFORE INCOME TAXES
    (40,215 )     (28,125 )     (100,388 )     (78,398 )
                                 
Provision for Income Tax
    800       800       1,600       1,600  
                                 
NET LOSS
  $ (41,015 )   $ (28,925 )   $ (101,988 )   $ (79,998 )
                                 
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING,
                               
BASIC AND DILUTED
    27,635,774       26,805,493       27,370,367       26,260,574  
                                 
*BASIC AND DILUTED NET LOSS PER SHARE
  $ (0.00 )   $ (0.00 )   $ (0.00 )   $ (0.00 )

 
*Weighted average number of shares used to compute basic and diluted loss per share is the same since the effect of dilutive securities is anti-dilutive.
 

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)
 

 

 
   
As of July 31,
2010
   
As of January 31,
2010
 
             
ASSETS
           
             
CURRENT ASSETS
           
Cash and cash equivalents
  $ 534,332     $ 665,737  
Accounts receivable, net
    622,734       457,517  
Receivable from officers
    23,664       23,483  
Due from affiliate
    3,650       2,850  
Prepaid expenses
    12,567       30,165  
Total current assets
    1,196,947       1,179,752  
                 
Prepaid commssion cost
    95,312       114,063  
Property and equipment - net
    10,196       11,627  
                 
TOTAL ASSETS
  $ 1,302,455     $ 1,305,442  
                 
LIABILITIES AND STOCKHOLDERS' DEFICIT:
               
                 
CURRENT LIABILITIES:
               
Accounts payable and accrued liabilities
  $ 114,457     $ 104,252  
Total current liabilities
    114,457       104,252  
                 
Convertible notes, net
    1,247,985       1,247,582  
                 
Total liabilities
    1,362,442       1,351,834  
                 
STOCKHOLDERS' DEFICIT:
               
Preferred stock, par value $0.001 ;
               
5,000,000  shares authorized; none issued
    -       -  
Common Stock, par value $0.001; 100,000,000 shares authorized,
               
27,635,774 and 27,041,328 shares issued and outstanding
               
as on July 31, 2010 and January 31, 2010
    27,636       27,041  
Additional paid-in-capital
    986,266       939,483  
Accumulated deficit
    (1,302,004 )     (1,241,031 )
Total
    (288,102 )     (274,507 )
Non-controlling interest
    228,115       228,115  
Total stockholders' deficit
    (59,987 )     (46,392 )
                 
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT
  $ 1,302,455     $ 1,305,442  

 
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements
 
 
3

 
 
APOLLO MEDICAL HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS AND SIX MONTHS ENDED JULY 31, 2010 AND 2009
(UNAUDITED)
 
 
   
For the Three Months ended
   
For the Six Months ended
 
    
July 31,
   
July 31,
 
   
2010
   
2009
   
2010
   
2009
 
                         
REVENUES
  $ 1,039,695     $ 580,942     $ 1,842,580     $ 1,082,125  
COST OF SERVICES
    864,719       387,692       1,539,405       807,247  
GROSS REVENUE
    174,976       193,250       303,175       274,878  
                                 
Operating expenses:
                               
General and administrative
    190,516       122,105       275,708       294,668  
Depreciation
    2,993       10,338       5,999       20,675  
Total operating expenses
    193,509       132,443       281,707       315,343  
                                 
PROFIT/(LOSS) FROM OPERATIONS
    (18,533 )     60,807       21,468       (40,465 )
                                 
OTHER  EXPENSES:
                               
Interest expense
    31,465       4,958       62,988       9,807  
Financing cost
    9,375       -       18,750       -  
Other expense
    757       -       (97 )     -  
Total other expenses
    41,597       4,958       81,641       9,807  
                                 
INCOME/(LOSS) BEFORE INCOME TAXES
    (60,130 )     55,849       (60,173 )     (50,272 )
                                 
Provision for income tax
    -       -       800       800  
                                 
NET INCOME/(LOSS)
  $ (60,130 )   $ 55,849     $ (60,973 )   $ (51,072 )
                                 
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING, BASIC AND DILUTED
    27,452,197       26,096,306       27,342,771       25,985,136  
                                 
*BASIC AND DILUTED NET INCOME/(LOSS) PER SHARE
  $ (0.00 )   $ 0.00     $ (0.00 )   $ (0.00 )
 
*Weighted average number of shares used to compute basic and diluted loss per share is the same since the effect of dilutive securities is anti-dilutive.

 

 

Results of Operations and Operating Data

Three Months Ended April 30, 2010 vs. Three Months Ended April 30, 2009

Net revenues for the three months ended April 30, 2010 of $802,885 increased $301,702, or 60 percent, over net revenues of $501,183 reported for the three months ended April 30, 2009. Net revenues are comprised of  net billings by AMH under the various fee structures from health plans, medical groups/IPA’s and hospitals, and income from service fee agreements. Increase was attributable to new hospital contracts, increased same-market area growth and expansion of services with existing medical group clients at new hospitals.

Physician practice salaries, benefits and other expenses for the three months ended April 30, 2010 were $674,686, at 84% of net revenues compared to $419,554 for the three months ended April 30, 2009, at 84% of net revenues.  Cost of Services includes the payroll and consulting costs of the physicians, all payroll related costs, costs for all medical malpractice insurance and physician privileges. Increase in physician costs were attributable to start-up losses at new hospital contracts and expansions of services at new hospitals in the quarter.

General and administrative expenses include all salaries, benefits, supplies and operating expenses, not specifically related to the day-to-day operations of our physician group practices, including billing and collections functions,  and our corporate management and overhead. General and administrative expenses were $85,192, at 11% of net revenues, for the three months ended April 30, 2010. General and Administrative expenses were $172,562 for the three months ended April 30, 2009, at 34% of net revenues.  In the first quarter of 2010, the Company recorded non-cash compensation expenses of $30,066, related to the issuance of shares for service, compared to $94,500 of such non-cash costs in the first quarter of 2009.  In addition, the Company recorded a favorable write-down of its bad debt reserve of $60,647 compared to $462 increase in bad debt reserve in first quarter of 2009.

 
Depreciation and amortization expense was $3,006 for the three months ended April 30, 2010, and $10,338 for the comparable three-month period in 2009.

 
The Company reported a profit from operations of $40,001 for the three months ended April 30, 2010, compared to a loss from operations of $101,272 recorded in the same period of 2009. Net revenues in 2010 continued to benefit from the addition of contracts with hospitals and the hiring of several additional physicians.  In addition, the operating profit in 2010 benefitted from the lower non-cash compensation costs.

 
Interest expense and amortization of financing costs totaled $40,044 for the three months ended April 30, 2010,  compared to interest and financing costs of $4,849 in the three months ended April 30, 2009. Interest expense and financing costs in 2010 included interest on the subordinated borrowings of $31,523, and the amortization of financing costs of $9,375, related to these notes. Interest expense in the three months ended April 30, 2009 of $4,849 represents interest expense paid on the SBA loan with Wells Fargo Bank, and interest expense accrued at AMM for the related party notes.

 
Net Loss was $843 for the three months ended April 30, 2010, compared to a net loss of $106,921 for the three months ended April 30, 2009.  The reduction in the net loss was the result of the factors discussed above.

 
Liquidity and Capital Resources

 
At April 30, 2010, the Company had cash and cash equivalents of $504,540, compared to cash and cash equivalents of  $665,737 at  January 31, 2010. The cash balance at April 30, 2010 included $486,216 in a money market brokerage account.  There were no short-term borrowings at April 30, 2010 or January 31, 2010.   Long-term borrowings totaled $1,247,784 as of April 30, 2010 and  $1,247,582 on January 31, 2010.
Net cash used in operating activities totaled $155,830 in the three months ended April 30, 2010, compared to net cash used in operations of $17,464 for the comparable three months ended April 30, 2009.  The significantly larger increase in accounts receivable,  primarily related to new contracts  in the first quarter of 2010, was responsible for the decrease in the operating cash flow.

 
Net cash used in operating activities for the three months ended April 30, 2010 of $155,830 was comprised of a net loss of $843 for the three month period.  Adjustments for non-cash charges which include depreciation, bad debt expense, shares issued for service and amortization of commission cost and debt discount, used $17,997.  In addition, net changes in operating assets and liabilities used cash of $136,990

 
The Company invested $4,568 to develop a Web Site and an $800 advance to an affiliated Company in the first quarter of 2010.  We did not spend any cash for investing activities in the comparable three-month period of 2009.

 
For the three months ended April 30, 2010, the Company did not spend any for financing activities. In the first quarter of 2009, ended April 30, 2009, net cash used in financing activities totaled $7,477 and consisted of principal pay downs on the Company's SBA loan with Wells Fargo Bank.

 
Credit Facility and Liquidity

 
The Company's Business Line with Wells Fargo Bank provides a revolving line of credit of $70,000, and is linked to the AMH bank account. The line can be used for short-term working capital needs and provides overdraft protection. The line cannot be used for letters of credit. There were no borrowings under this facility during the three months ended April 30, 2010.

 
We continue to search for investment opportunities and anticipate that funds generated from operations, together with our current cash on hand and funds available under our revolving credit agreement will be sufficient to finance our working capital requirements and fund anticipated acquisitions, contingent acquisition consideration and capital expenditures.

 


 

 

 

APOLLO MEDICAL HOLDINGS, INC.

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)


 

 
   
As of April 30, 2010
   
As of January 31, 2010
 
ASSETS
           
CURRENT ASSETS
           
Cash and cash equivalents
  $ 504,540     $ 665,737  
Accounts receivable, net
    653,672       457,517  
Receivable from officers
    23,483       23,483  
Due from affiliate
    3,650       2,850  
Prepaid expenses
    22,821       30,165  
Total current assets
    1,208,166       1,179,751  
                 
Deferred commission cost
    104,687       114,063  
Property and equipment - net
    13,189       11,627  
                   
TOTAL ASSETS
  $ 1,326,042     $ 1,305,441  
                 
LIABILITIES AND STOCKHOLDERS' DEFICIT:
               
                 
CURRENT LIABILITIES:
               
Accounts payable and accrued liabilities
  $ 95,426     $ 104,252  
Total current liabilities
    95,426       104,252  
                 
Convertible notes, net
    1,247,784       1,247,582  
                    
Total liabilities
    1,343,210       1,351,834  
                 
STOCKHOLDERS' DEFICIT:
               
Preferred stock, par value $0.001 ;  5,000,000  shares authorized; none issued
    -       -  
Common Stock, par value $0.001; 100,000,000 shares authorized, 27,424,661 and 27,041,328 shares issued and outstanding  as on April 30, 2010 and January 31, 2010
    27,424       27,041  
Additional paid-in-capital
    969,166       939,483  
Accumulated deficit
    (1,241,873 )     (1,241,031 )
Total
    (245,283 )     (274,508 )
Non-controlling interest
    228,115       228,115  
Total stockholders' deficit
    (17,168 )     (46,393 )
                   
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT
  $ 1,326,042     $ 1,305,441  

 
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements
 


 
3

 

 
APOLLO MEDICAL HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTH PERIODS ENDED APRIL 30, 2010 AND 2009
(UNAUDITED)
 
 
   
For the three month periods ended April 30,
 
   
2010
   
2009
 
             
REVENUES
  $ 802,885     $ 501,183  
COST OF SERVICES
    674,686       419,554  
GROSS REVENUE
    128,199       81,629  
                 
Operating expenses:
               
General and administrative
    85,192       172,562  
Depreciation
    3,006       10,338  
Total operating expenses
    88,198       182,900  
                 
PROFIT/(LOSS) FROM OPERATIONS
    40,001       (101,272 )
                 
OTHER  EXPENSES:
               
Interest expense
    31,523       4,849  
Financing cost
    9,375       -  
Other expense
    (854 )     -  
Total other expenses
    40,044       4,849  
                 
LOSS BEFORE INCOME TAXES
    (43 )     (106,121 )
                 
Provision for income tax
    800       800  
                   
NET LOSS
 
(843 )  
$
(106,921 )
                 
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING,
               
BASIC AND DILUTED
    27,229,655       25,870,220  
                 
*BASIC AND DILUTED NET LOSS PER SHARE
  $ (0.00 )   $ (0.00 )
 
*Weighted average number of shares used to compute basic and diluted loss per share is the same since the effect of dilutive securities is anti-dilutive.

 
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements
 


 
4

 

 
 
APOLLO MEDICAL HOLDINGS, INC.
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

 
   
October 31,
   
January 31,
 
   
2009
   
2009
 
ASSETS
           
             
CURRENT ASSETS
           
Cash and cash equivalents
  $ 863,394     $ 84,161  
Accounts receivable, net
    416,586       255,665  
Due from affiliate
    2,850       2,050  
Prepaid commission
    123,438       -  
Prepaid expenses
    35,847       25,025  
Total current assets
    1,442,115       366,901  
                 
Property and equipment - net
    17,032       47,330  
                 
TOTAL ASSETS
  $ 1,459,147     $ 414,232  
                 
LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT):
               
                 
CURRENT LIABILITIES:
               
Accounts payable and accrued liabilities
  $ 111,599     $ 65,141  
Shares to be issued
    1,999       284,000  
Convertible notes payable
    10,000       10,000  
Convertible notes payable-related party
    23,000       23,000  
Current portion of loan
    -       41,782  
  Total current liabilities
    146,598       423,923  
                 
Loan
    -       156,218  
Convertible notes
    1,240,358       -  
Convertible notes payable-related party
    -       75,000  
Total liabilities
    1,386,956       655,141  
                 
STOCKHOLDERS' EQUITY (DEFICIT):
               
Preferred stock, par value $.001 and $0.0001 per share; 5,000,000 and 25,000,000 shares authorized, respectively; none issued
    -       -  
Common stock, par value $.001 and $0.0001, 100,000,000 shares authorized, 26,963,511  shares issued and outstanding as of October 31, 2009 and  25,870,220 shares issued and outstanding as of January 31, 2009
    26,964       25,870  
Non-controlling interest
    334,202       228,115  
Additional paid-in-capital
    942,062       550,058  
Accumulated deficit
    (1,231,036 )     (1,044,951 )
Total stockholders' equity (deficit)
    72,191       (240,909 )
                 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
  $ 1,459,147     $ 414,232  
 
The accompanying notes are an integral part of these consolidated financial statements


 

 
3

 


APOLLO MEDICAL HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE NINE MONTHS AND THREE MONTHS ENDING OCTOBER 31, 2009 AND 2008
(UNAUDITED)
 
   
For the Three months ended
   
For the Nine months ended
 
   
October 31,
   
October 31,
 
   
2009
   
2008
   
2009
   
2008
 
                         
REVENUES
  $ 616,975       479,808     $ 1,699,100       499,603  
                                 
Operating expenses:
                               
Cost of services - physician practice salaries, benefits and other
    455,183       488,605       1,262,430       531,411  
General and administrative
    139,557       278,854       434,225       681,233  
Depreciation
    9,622       9,996       30,297       9,996  
Total operating expenses
    604,362       777,455       1,726,952       1,222,640  
                                 
INCOME (LOSS) FROM OPERATIONS
    12,613       (297,647 )     (27,852 )     (723,037 )
                                 
OTHER  EXPENSES:
                               
Interest expense
    15,738       5,356       25,546       5,356  
Financing cost
    25,000       23,500       25,000       23,500  
Total other expenses
    40,738       28,856       50,546       28,856  
                                 
NET LOSS BEFORE INCOME TAXES
    (28,125 )     (326,503 )     (78,398 )     (751,893 )
                                 
Provision for income tax
    800       -       1,600       800  
                                 
NET LOSS
    (28,925 )     (326,503 )     (79,998 )     (752,693 )
                                 
Net (income) loss attributable to noncontrolling interest
    53,161       (41,712 )     106,087       (41,712 )
                                 
Net loss attributable to Apollo Medical Holdings, Inc.
  $ (82,086 )   $ (284,791 )   $ (186,084 )   $ (710,981 )
                                 
                                 
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING,
                               
BASIC AND DILUTED
    26,805,493       25,734,174       26,260,574       20,063,728  
                                 
*BASIC AND DILUTED NET LOSS PER SHARE
  $ (0.00 )   $ (0.01 )   $ (0.00 )   $ (0.04 )

 

 
*Weighted average number of shares used to compute basic and diluted loss per share is the same since the effect of dilutive securities is anti-dilutive.

 
The accompanying notes are an integral part of these consolidated financial statements


 

 
4

 

 

APOLLO MEDICAL HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED OCTOBER 31, 2009 AND 2008
(UNAUDITED)
 
   
Nine months ended October 31,
 
   
2009
   
2008
 
             
CASH FLOWS FROM OPERATING ACTIVITIES:
           
  Adjustments to reconcile net loss to net cash
           
     (used in) operating activities:
           
Net loss
  $ (79,998 )   $ (752,693 )
 Depreciation
    30,298       9,996  
Bad debt expense
    4,954       23,514  
Issuance of shares for service
    101,455       72,545  
Warrant Discount
    9,642       -  
Shares issued as finance charge
    -       13,500  
Shares issued for consulting expense
    -       67,500  
Exercise of notes payable conversion
    -       170,375  
Minority Interest
    -       161,512  
(Increase) decrease in current assets:
               
Accounts receivable
    (165,874 )     (174,457 )
Prepaid expenses
    (10,822 )     (9,614 )
Prepaid Commission
    (123,438 )     -  
Due from related party
    (800 )     (29,897 )
Increase (decrease) in current liabilities:
    -       -  
Accounts payable and accrued liabilities
    46,458       17,975  
                 
Net cash used in operating activities
    (188,126 )     (429,743 )
                 
CASH FLOWS FROM INVESTING ACTIVITIES:
               
Property and Equipment
    -       (69,510 )
                 
CASH FLOWS FROM FINANCING ACTIVITIES:
               
Process from/(Payment to) notes payables
               
Process from/(Payment to) notes payables- related parties
    (75,000 )     70,000  
Process from/(Payment to) notes convertibles
    1,240,358          
Process from/(Payment to) line of credit
    (198,000 )     198,000  
Proceeds from issuance of common stock for cash
    -       335,000  
Net cash provided by financing activities
    967,358       603,000  
                 
NET INCREASE IN CASH & CASH EQUIVALENTS
    779,233       103,747  
                 
CASH & CASH EQUIVALENTS, BEGINNING BALANCE
    84,161       44,352  
                 
CASH & CASH EQUIVALENTS, ENDING BALANCE
  $ 863,394     $ 148,099  
                 
SUPPLEMENTARY DISCLOSURES OF CASH FLOW INFORMATION
               
                 
Interest paid during the year
  $ 13,153     $ 3,452  
Taxes paid during the year
  $ 1,600     $ -  
Conversion of notes payable to Equity
  $ 200,000     $ -  

 


 
The accompanying notes are an integral part of these consolidated financial statements


 

 
5

 

 
 
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AMEH News: Amended Statement of Beneficial Ownership (sc 13d/a) 12/15/2017 05:30:02 PM
AMEH News: Initial Statement of Beneficial Ownership (3) 12/15/2017 01:14:10 PM
AMEH News: Initial Statement of Beneficial Ownership (3) 12/15/2017 01:13:00 PM
AMEH News: Statement of Changes in Beneficial Ownership (4) 12/13/2017 05:23:46 PM
AMEH News: Current Report Filing (8-k) 12/13/2017 05:17:15 PM
PostSubject
#126   AMEH moved to the Nasdaq from the OTC. Renee 12/07/17 05:52:41 PM
#125   Hello out there? Anyone have any information or markkn5 09/15/15 02:29:25 PM
#124   What does this suggest to you? Any insight markkn5 09/02/15 10:28:58 AM
#123   Is it true that the director put over markkn5 09/02/15 10:28:12 AM
#122   Where are you on this now? markkn5 08/22/15 08:34:33 AM
#121   What do you think about this now? markkn5 08/22/15 08:33:58 AM
#120   If you have ten minutes of time you markkn5 08/19/15 02:02:25 PM
#119   Someone bought in nicely today!!!! markkn5 08/18/15 05:18:31 PM
#118   I like this. A lot. Great information And markkn5 08/08/15 12:22:13 PM
#117   $AMEH recent news/filings stocktrademan 07/18/15 04:32:40 PM
#116   What's up here? markkn5 05/12/15 09:52:00 AM
#115   AMEH one for 10 reverse split: Renee 04/24/15 06:33:00 PM
#114   Have another buy order in. Not gonna gamble DaveBlk2714 03/22/14 03:58:14 PM
#113   Dave, u r getting scam. They got to StubbornSOB 03/21/14 07:44:39 PM
#112   Stuck my toes in this one yesterday based DaveBlk2714 03/20/14 07:35:28 AM
#111   Wth happened here? dollarman1 11/07/13 07:10:05 PM
#110   Apollo Medical Holdings Expands Services into Orange County Hegotgame 10/09/12 03:25:17 PM
#109   I do not not think he is involved,as greasemonkeyshoes 09/15/12 12:14:14 AM
#108   DJRT.. Does ivan cassell still own 8%.. ??? hank 10 bagger 09/14/12 10:53:31 PM
#107   I got a BAD BAD BAD feeling about greasemonkeyshoes 09/14/12 05:32:05 PM
#106   As you know I got out whole on 10 bagger 09/14/12 04:14:15 PM
#105   Bad Signs and bad fundamentals.................. greasemonkeyshoes 09/14/12 03:54:05 PM
#104   APOLLO MEDICAL HOLDINGS, INC. 10 bagger 09/14/12 10:48:25 AM
#103   That is becaused it was crossed inhouse and 10 bagger 08/27/12 05:30:44 PM
#102   Strange, I had a limit order set to rado 08/27/12 04:24:11 PM
#101   Thanks 10bagger. I had no idea. rado 08/20/12 01:56:05 PM
#100   If your order is for less than 5000 10 bagger 08/20/12 01:21:09 PM
#99   I have had a limit order at .28 rado 08/20/12 12:58:32 PM
#98   I sold half of mine at .50. rado 07/19/12 12:52:13 PM
#97   Did a quick tally,someone drove up the stock greasemonkeyshoes 07/17/12 04:42:09 PM
#96   I never look backwards.. If I wasn't out 10 bagger 07/17/12 03:59:35 PM
#95   Water under the bridge,GONE,move on. I'm pretty sure greasemonkeyshoes 07/17/12 03:49:52 PM
#94   I guess they got me out of the 10 bagger 07/17/12 03:16:09 PM
#93   AMEH .50!!!!!!!!! what the heck happened? mooremi9 07/17/12 03:12:56 PM
#92   Never felt right with Kyle,former healthcare fund manager,and greasemonkeyshoes 07/16/12 04:19:53 PM
#91   AMEH $0.63.. WOW..... I waited almost 10 bagger 07/16/12 03:40:24 PM
#90   I'm clueless and way off on this one greasemonkeyshoes 07/16/12 02:41:20 PM
#89   AMEH.....wtf? budge 07/16/12 02:08:33 PM
#88   AMEH.. $0.188 I'm almost gone.. 10 bagger 07/12/12 12:49:17 PM
#87   AMEH.. $0.1188..Apollo Medical Holdings, Inc. Reports Revenues and 10 bagger 06/22/12 09:18:36 AM
#86   AMEH.. $0.10.. 10Q For the three months ended 10 bagger 06/19/12 06:15:35 PM
#85   For quite some times,one of my concern about greasemonkeyshoes 05/17/12 08:37:51 PM
#84   Apollo Medical Holdings, Inc. Reports Record Revenues for mooremi9 05/16/12 11:50:41 PM
#83   AMEH.. $0.1288 Could they finally be turning 10 bagger 03/16/12 09:25:45 AM
#82   Unregistered Sales of Equity Securities and more: greasemonkeyshoes 03/14/12 03:38:39 PM
#81   100,000 traded today @$0.08 and then it was 10 bagger 03/07/12 03:59:07 PM
#80   "...Mr. Augusta's investment firm - SpaGus Capital Partners greasemonkeyshoes 03/07/12 03:22:39 PM
#79   AMEH $0.10.. 10 bagger 03/07/12 09:02:59 AM
#78   I have followed this baby almost as long greasemonkeyshoes 03/02/12 07:19:20 PM
#77   AMEH.. $0.1288.. Apollo Medical Holdings, Inc. Appoints Edward 10 bagger 02/16/12 09:03:43 AM
PostSubject