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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.
| 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. |
| 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 | ||||
| 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 | ) | ||||
| 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 | ||||
| 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 | ) | |||||
| 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 | ||||
| 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 | ) | ||
| 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 | ) | ||||
| 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 | $ | - | ||||
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