AMEH.. $0.10 July 31 10Q..
APOLLO MEDICAL HOLDINGS, INC.
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
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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.
