Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 11, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'PACIFIC HEALTH CARE ORGANIZATION INC | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 802,424 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001138476 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current Assets | ' | ' |
Cash | $933,109 | $479,674 |
Accounts receivable, net of allowance of $23,852 and $20,000 | 1,525,164 | 1,332,499 |
Prepaid income taxes | 597,922 | 0 |
Receivable other | 20 | 7,344 |
Prepaid expenses | 147,855 | 52,988 |
Total current assets | 3,204,070 | 1,872,505 |
Property and equipment, net | ' | ' |
Computer equipment | 130,717 | 127,667 |
Furniture & fixtures | 83,708 | 83,708 |
Office equipment | 26,560 | 26,560 |
Office equipment under capital lease | 63,923 | 63,923 |
Total property & equipment | 304,908 | 301,858 |
Less: accumulated depreciation and amortization | -166,196 | -133,573 |
Net property & equipment | 138,712 | 168,285 |
Other assets | 8,158 | 8,158 |
Total assets | 3,350,940 | 2,048,948 |
Current Liabilities | ' | ' |
Accounts payable | 124,980 | 120,787 |
Accrued expenses | 273,075 | 98,074 |
Income tax payable | 565,900 | 249,162 |
Current obligation under capital lease | 14,743 | 19,294 |
Deferred rent expense | 22,322 | 24,951 |
Deferred tax liability | 5,659 | 5,659 |
Unearned revenue | 0 | 2,443 |
Total current liabilities | 1,006,679 | 520,370 |
Long term liabilities | ' | ' |
Noncurrent obligation under capital lease | 11,537 | 21,324 |
Total liabilities | 1,018,216 | 541,694 |
Commitments and Contingencies | 0 | 0 |
Shareholders’ Equity | ' | ' |
Preferred stock; 5,000,000 shares authorized at $0.001 par value; zero shares issued and outstanding | 0 | 0 |
Common stock, 50,000,000 shares authorized at $0.001 par value; 802,424 shares issued and outstanding | 802 | 802 |
Additional paid-in capital | 623,629 | 623,629 |
Retained earnings | 1,708,293 | 882,823 |
Total stockholders' equity | 2,332,724 | 1,507,254 |
Total liabilities and stockholders’ equity | $3,350,940 | $2,048,948 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Accounts receivable, allowance (in Dollars) | $23,852 | $20,000 |
Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized (in Shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in Shares) | 0 | 0 |
Preferred stock, shares outstanding (in Shares) | 0 | 0 |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized (in Shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in Shares) | 802,424 | 802,424 |
Common stock, shares outstanding (in Shares) | 802,424 | 802,424 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Revenues: | ' | ' | ' | ' |
HCO fees | $210,039 | $301,077 | $689,575 | $691,574 |
MPN fees | 223,625 | 205,238 | 638,841 | 569,584 |
Other | 1,269,906 | 820,486 | 3,351,872 | 2,255,011 |
Total revenues | 1,703,570 | 1,326,801 | 4,680,288 | 3,516,169 |
Expenses: | ' | ' | ' | ' |
Depreciation & amortization | 10,918 | 7,153 | 32,623 | 19,605 |
Bad debt provision | 10,000 | 0 | 10,000 | 0 |
Consulting fees | 81,871 | 143,326 | 267,125 | 354,019 |
Salaries & wages | 517,400 | 440,890 | 1,547,197 | 1,236,088 |
Professional fees | 131,157 | 77,558 | 324,014 | 195,833 |
Insurance | 68,858 | 54,854 | 189,455 | 152,761 |
Outsource service fees | 202,960 | 114,550 | 511,374 | 259,972 |
Data maintenance | 9,355 | 31,285 | 46,178 | 51,969 |
General & administrative | 108,759 | 143,285 | 359,985 | 356,349 |
Total expenses | 1,141,278 | 1,012,901 | 3,287,951 | 2,626,596 |
Income from operations | 562,292 | 313,900 | 1,392,337 | 889,573 |
Other income (expense): | ' | ' | ' | ' |
Interest income | 1 | 170 | 460 | 551 |
Rental income | 0 | 250 | 0 | 1,750 |
Interest (expense) | -549 | -173 | -1,909 | -604 |
Total other income (expense) | -548 | 247 | -1,449 | 1,697 |
Income before taxes | 561,744 | 314,147 | 1,390,888 | 891,270 |
Income tax provision | 228,702 | 127,574 | 565,418 | 361,944 |
Net income | $333,042 | $186,573 | $825,470 | $529,326 |
Basic and fully diluted earnings per share: | ' | ' | ' | ' |
Earnings per share amount (in Dollars per share) | $0.42 | $0.23 | $1.03 | $0.66 |
Weighted average common shares outstanding (in Shares) | 802,424 | 802,424 | 802,424 | 802,424 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities: | ' | ' |
Net income | $825,470 | $529,326 |
Adjustments to reconcile net income to net cash: | ' | ' |
Depreciation and amortization | 32,623 | 19,605 |
Changes in operating assets & liabilities | ' | ' |
(Increase) in accounts receivable | -192,665 | -835,603 |
Decrease in receivable other | 7,324 | 0 |
(Increase) in prepaid income tax | -597,922 | -61,511 |
Decrease in commission draw | 0 | 29,350 |
(Increase) decrease in prepaid expenses | -94,867 | 4,820 |
(Decrease) increase in accounts payable | 4,193 | -53,713 |
Increase in accrued expenses | 175,001 | 113,446 |
Increase in income tax payable | 316,738 | 361,944 |
(Decrease) increase in deferred rent expense | -2,629 | 3,129 |
(Decrease) in unearned revenue | -2,443 | -3,046 |
Net cash provided by operating activities | 470,823 | 107,746 |
Cash flows from investing activities | ' | ' |
Purchases of furniture & equipment | -3,050 | -63,551 |
Net cash used by investing activities | -3,050 | -63,551 |
Cash flows from financing activities | ' | ' |
Payment of obligation under capital lease | -14,338 | -4,900 |
Net cash used in financing activities | -14,338 | -4,900 |
Increase in cash | 453,435 | 39,295 |
Cash at beginning of period | 479,674 | 368,459 |
Cash at end of period | 933,109 | 407,754 |
Cash paid for: | ' | ' |
Interest | 2,980 | 604 |
Taxes paid | $846,502 | $61,511 |
NOTE_1_BASIS_OF_FINANCIAL_STAT
NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
NOTE 1 – BASIS OF FINANCIAL STATEMENT PRESENTATION | |
The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim condensed consolidated financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim condensed financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Annual Report on Form 10-K for the year ended December 31, 2012. Operating results for the nine-months ended September 30, 2013 are not necessarily indicative of the results to be expected for the year ending December 31, 2013. | |
NOTE_2_SUBSEQUENT_EVENTS
NOTE 2 - SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
NOTE 2 – SUBSEQUENT EVENTS | |
In accordance with ASC 855-10 Company management reviewed all material events through the date of issuance and there are no material subsequent events to report. | |