Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 08, 2018 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Entity Registrant Name | Future Healthcare of America | |
Entity Central Index Key | 1,552,845 | |
Entity Filer Category | Smaller Reporting Company | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,018 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 11,265,631 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
CURRENT ASSETS: | ||
Cash | $ 54,538 | $ 158,072 |
Accounts receivable, net | 506,600 | 400,584 |
Prepaid expenses | 39,084 | 31,390 |
Total current assets | 600,222 | 590,046 |
Deferred tax asset, net | ||
Total assets | 600,222 | 590,046 |
CURRENT LIABILITIES: | ||
Accounts payable | 251,172 | 103,787 |
Advance related party | 23,000 | |
Accrued expenses | 641,512 | 548,052 |
Derivative liability | 43,726 | |
Deferred revenue | 30,492 | 12,832 |
Notes Payable | 25,614 | |
Convertible note payable | 1,010,000 | 1,010,000 |
Total current liabilities | 1,981,790 | 1,718,397 |
Total liabilities | 1,981,790 | 1,718,397 |
COMMITMENTS & CONTINGENCIES | ||
STOCKHOLDERS' DEFICIT | ||
Common stock | 11,266 | 11,266 |
Additional paid-in capital | 2,210,420 | 1,313,160 |
Accumulated deficit | (3,603,254) | (2,452,777) |
Total stockholders' deficit | (1,381,568) | (1,128,351) |
Total liabilities and stockholders' deficit | $ 600,222 | $ 590,046 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 45,200 | $ 20,200 |
Common stock authorized | 200,000,000 | 200,000,000 |
Common stock par value | $ 0.001 | $ 0.001 |
Common stock outstanding | 11,265,631 | 11,265,631 |
UNAUDITED CONDENSED CONSOLIDATE
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
REVENUE | ||||
Total Revenue | $ 642,480 | $ 955,423 | $ 1,414,738 | $ 1,950,851 |
COST OF SERVICES | ||||
Total Cost of Services | 497,257 | 697,887 | 1,038,716 | 1,399,372 |
Gross Profit | 145,223 | 257,536 | 376,022 | 551,479 |
OPERATING EXPENSES | ||||
Selling expenses | 4,717 | 14,582 | 15,260 | 31,666 |
General and administrative | 119,085 | 89,635 | 229,001 | 215,564 |
Salaries, wages and related expenses | 151,432 | 177,895 | 311,237 | 347,736 |
Professional and consulting fees | 23,347 | 20,684 | 66,105 | 67,983 |
Total Operating Expenses | 298,581 | 302,796 | 621,603 | 662,949 |
LOSS FROM OPERATIONS | (153,358) | (45,260) | (245,581) | (111,470) |
OTHER INCOME (EXPENSE): | ||||
Interest income | 38 | 127 | 119 | 208 |
Gain/(loss) on Derivative | 24,392 | 45,059 | ||
Interest expense | (25,820) | (25,518) | (51,481) | (50,993) |
Other income (expense) | ||||
Total Other Expense | (25,782) | (999) | (51,362) | (5,726) |
LOSS BEFORE INCOME TAXES | (179,140) | (46,259) | (296,943) | (117,196) |
CURRENT INCOME TAX EXPENSE (BENEFIT) | ||||
DEFERRED INCOME TAX EXPENSE (BENEFIT) | ||||
NET LOSS | $ (179,140) | $ (46,259) | $ (296,943) | $ (117,196) |
BASIC LOSS PER COMMON SHARE | $ (0.02) | $ (0.004) | $ (0.03) | $ (0.01) |
BASIC WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 11,265,631 | 11,265,631 | 11,265,631 | 11,265,631 |
DILUTED LOSS PER COMMON SHARE | $ (0.02) | $ (0.004) | $ (0.03) | $ (0.01) |
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 11,265,631 | 11,265,631 | 11,265,631 | 11,265,631 |
UNAUDITED CONDENSED CONSOLIDAT5
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash Flows from Operating Activities | ||
Net loss | $ (296,943) | $ (117,196) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Allowance for doubtful accounts | 25,000 | |
Gain on derivative instruments | (45,059) | |
Change in assets and liabilities: | ||
Accounts receivable | (131,015) | (84,464) |
Prepaid expenses | 41,456 | 25,067 |
Accounts payable | 147,384 | 29,172 |
Accrued expense | 93,460 | 97,201 |
Deferred revenue | 17,661 | (6,838) |
Net Cash Provided/(Used) by Operating Activities | (102,997) | (102,118) |
Cash Flows from Investing Activities: | ||
Net Cash Provided/(Used) by Investing Activities | ||
Cash Flows from Financing Activities: | ||
Proceed from related party advance | 23,000 | |
Re-payment of insurance financing | (23,537) | (8,754) |
Net Cash Provided/ (Used) by Financing Activities | (537) | (8,754) |
Net Increase (Decrease) in Cash | (103,534) | (110,872) |
Cash at Beginning of Period | 158,072 | 206,352 |
Cash at End of Period | 54,538 | 95,480 |
Supplemental Disclosures of Cash Flow Information Cash paid during the periods for: | ||
Interest | 982 | 493 |
Income Taxes | ||
NON-CASH EXPENDITURES | ||
Prepaid insurance premiums financed | $ 49,151 | $ 22,216 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization Consolidation Accounting Estimates Cash and Cash Equivalents Accounts Receivable Depreciation Income /(Loss) Per Share Leases - Income Taxes Advertising Costs Fair Value of Financial Instruments Level 1. Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Unless otherwise disclosed, the fair value of the Companys financial instruments including cash, accounts receivable, prepaid expenses, and accounts payable and accrued expenses approximates their recorded values due to their short-term maturities. Revenue Recognition Revenue is recognized when performance obligations with the customer are satisfied which occurs when services are provided to the customer. Revenue is measured as the amount of consideration expected to be received in exchange for providing services. The Company's sales contain performance obligations satisfied at a point in time when the services are provided. Generally, the time between when revenue is recognized and when payment is due is not significant. Pre-payments received prior to satisfaction of performance obligations through the Recovery Audit Program or RAP payments from Medicare are recorded as a deferred revenue liability. Given the insignificant days between revenue recognition and receipt of payment, financing components do not exist between the Company and its customers. The following table disaggregates revenue by category: For the six months ended June 30, 2018 Medicare Private Pay Medicaid Staffing Ins. Total Wyoming $ 319,107 $ 210,026 $ 91,410 $ - $ 18,977 $ 639,520 Montana - 144,822 91,654 485,305 53,437 775,218 Total Revenues $ 319,107 $ 354,848 $ 183,064 $ 485,305 $ 72,414 $ 1,414,738 For the three months ended June 30, 2018 Medicare Private Pay Medicaid Staffing Ins. Total Wyoming $ 135,235 $ 93,749 $ 45,210 $ - $ 4,680 $ 278,874 Montana - 76,008 50,825 209,898 26,875 363,606 Total Revenues $ 135,235 $ 169,757 $ 96,035 $ 209,898 $ 31,555 $ 642,480 Derivative Financial Instruments During the period ending June 30, 2018, we adopted the requirements of the new guidance as of January 1, 2018, utilizing the modified retrospective method of transition. As a result, we recorded a cumulative adjustment to retained earnings as of January 1, 2018, to reflect the effect of the new guidance. The impact of adopting the new guidance resulted in a decrease in the previously recorded derivative liability, an increase in additional paid-in capital and a reduction of retained earnings related to the down-round provisions in the Convertible Note Payable and warrants (see Note 4). The modified retrospective method of transition requires us to disclose the effect of applying the new guidance on each item included in our 2018 financial statements. Following are the line items from our balance sheet as of June 30, 2018, that were affected, the amounts that would have been reported under the former guidance, the effects of applying the new guidance, and the balances reported under the new guidance: Amounts that Effects of Balance would have applying As been reported new guidance reported Assets: - - - Liabilities Derivative liability (21,632) 21,632 - Stockholders’ Deficit Accumulated Deficit 2,727,626 875,628 3,603,254 Additional Paid-In Capital (1,313,160) (897,260) (2,210,420) The following are the line items from the statement of operations for the six-month period ending June 30, 2018, that were affected, the amounts that would have been reported under the former guidance, the effects of applying the new guidance, and the amounts reported under the new guidance: Statement of operations Amounts that would have been reported Effects of applying new guidance Balance As Reported Interest expense 29,387 22,094 51,481 Net income (274,849) (22,094) (296,943) The following are the line items from the statement of operations for the three-month period ending June 30, 2018, that were affected, the amounts that would have been reported under the former guidance, the effects of applying the new guidance, and the amounts reported under the new guidance: Statement of operations Amounts that would have been reported Effects of applying new guidance Balance As Reported Interest expense 9,884 15,936 25,820 Net income (163,204) (15,936) (179,140) Recently Enacted Accounting Standards - Other recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Companys present or future financial statements. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Jun. 30, 2018 | |
GOING CONCERN [Abstract] | |
GOING CONCERN | NOTE 2 - GOING CONCERN The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America, which contemplate continuation of the Company as a going concern. However, the Company has incurred losses, an accumulated deficit and has a short-term note payable in excess of anticipated cash. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a period of one year from the issuance of these financial statements. There is no assurance that the Company will be successful in achieving profitable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. |
PROPERTY & EQUIPMENT
PROPERTY & EQUIPMENT | 6 Months Ended |
Jun. 30, 2018 | |
Property, Plant and Equipment, Net [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 3 - PROPERTY & EQUIPMENT The following is a summary of property and equipment at: Life June 30, 2018 December 31, 2017 Furniture, fixtures, and equipment 2-10 yrs $ 36,384 $ 36,384 36,384 36,384 Less: Accumulated depreciation (36,384) (36,384) Property & equipment, net $ - $ - Depreciation expense for the periods ended June 30, 2018 and 2017 was $0 and $0, respectively. |
NOTES PAYABLE AND CONVERTIBLE D
NOTES PAYABLE AND CONVERTIBLE DEBENTURE | 6 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE AND CONVERTIBLE DEBENTURE | NOTE 4 NOTES PAYABLE AND CONVERTIBLE DEBENTURE On September 9, 2013, the Company closed a Subscription Agreement by which one institutional investor purchased a) a Variable Rate Senior Secured Convertible Note payable having a total principal amount of $1,010,000, convertible into common shares of the Company at $0.25 per share and maturing March 9, 2015; b) Warrants to purchase a total of 3,030,000 shares of common stock, at $0.50 per share, exercisable for four years, and c) a greenshoe to purchase a total of 2,000,000 shares of common stock at $0.25 per share, exercisable for one year from the closing date. The note and warrants have a down-round provision, wherein if the Company issues common stock or equity-based instruments with lower prices or sticke prices, the note and warrants exercise prices will be adjusted to match the lower prices. On September 9, 2014 the greenshoe expired unexercised. On March 9, 2015, the Note matured. As the note has not been paid nor extended, the outstanding principal, plus accrued but unpaid interest, liquidated damages and other amounts, became due and payable at the election of the holder. The holder has not made such an election. Effective December 14, 2017, the note payable was amended to reduce the conversion price was reduced from $0.25 per share to $0.10 per share. As of June 30, 2018, the Company had accrued interest payable on the debenture of $385,302. On January 2, 2018, the Company financed the premium for directors and officers insurance. The Company borrowed $26,921 at 6.00% interest, and the note will be repaid in 10 equal installments of $3,079. As of June 30, 2018, the balance of the note payable was $12,139. On January 25, 2018, the Company financed the premium for liability insurance. The Company borrowed $22,230 at 6.00% interest, and the note will be repaid in 10 equal installments of $2,287. As of June 30, 2018, the balance of the note payable was $13,476. |
CAPITAL STOCK
CAPITAL STOCK | 6 Months Ended |
Jun. 30, 2018 | |
Stockholders' Equity Note [Abstract] | |
CAPITAL STOCK | NOTE 5 - CAPITAL STOCK Common Stock |
WARRANTS
WARRANTS | 6 Months Ended |
Jun. 30, 2018 | |
Warrants and Rights Note Disclosure [Abstract] | |
WARRANTS AND GREENSHOE | NOTE 6 WARRANTS On September 9, 2013, the Company closed a Subscription Agreement wherein the Company granted warrants to purchase a total of 3,030,000 shares of common stock, at $0.50 per share, exercisable for four years. On September 9, 2017 the expiration date of the warrants was extended to September 9, 2018. A summary of the status of the warrants granted is presented below for the three months ended: June 30, 2018 December 31, 2017 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of period 3,030,000 $ 0.50 3,030,000 $ 0.50 Granted - - - - Exercised - - - - Expired - - - - Outstanding at end of period 3,030,000 $ 0.50 3,030,000 $ 0.50 |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 7 - INCOME TAXES The Company accounts for income taxes in accordance with FASB ASC Topic 740, Accounting for Income Taxes which requires the Company to provide a net deferred tax asset or liability equal to the expected future tax benefit or expense of temporary reporting differences between book and tax accounting and any available operating loss or tax credit carryforwards. Because of the uncertainty surrounding the realization of the loss carryforwards and significant changes in the ownership of the Company, a valuation allowance has been established equal to the tax effect of the loss carryforwards and, therefore, no deferred tax asset has been recognized for the loss carryforwards. The net deferred tax assets are approximately $1,100,000 as of June 30, 2018, with an offsetting valuation allowance of the same amount. |
LEASES
LEASES | 6 Months Ended |
Jun. 30, 2018 | |
Leases [Abstract] | |
LEASES | NOTE 8 LEASES Operating Lease The future minimum lease payments for non-cancelable operating leases having remaining terms in excess of one year as of June 30, 2018 are as follows: Twelve months ending June 30 Lease Payments 2019 18,300 2020 16,775 2021 - Thereafter - Total Minimum Lease Payments $ 35,075 Lease expense charged to operations was $38,502 and $38,327 for the six months ended June 30, 2018 and 2017, respectively. |
INCOME_ (LOSS) PER SHARE
INCOME/ (LOSS) PER SHARE | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
INCOME/ (LOSS) PER SHARE | NOTE 9 INCOME/ (LOSS) PER SHARE At June 30, 2018 and 2017, the Company had 3,030,000 and 3,030,000, respectively, warrants to purchase common stock of the Company at $0.50 per share, and a convertible debenture payable wherein the holder could convert the note and underlying accrued interest into a minimum of 10,100,000 and 4,040,000, respectively shares of common stock which were not included in the loss per share computation because their effect would be anti-dilutive. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITEMENTS AND CONTINGENCIES | NOTE 10 COMMITMENTS AND CONTINGENCIES On June 17, 2016 a complaint was filed with the Wyoming State Department of Labor against the Company, alleging discrimination on the basis of sex and disability. The complaint did not seek any specific monetary relief. The complaint was mediated by the Wyoming State Department of Labor. The Wyoming State Department of Labor issued a notice of dismissal for the complaint. On February 9, 2018, this former employee filed a lawsuit against Interim Healthcare of Wyoming, claiming wrongful termination. After reviewing the facts and circumstances, the Company believes the claims made are weak, at best, and the Company has retained counsel and intends to continue a vigorous defense. At this time, management cannot reasonably estimate the cost to defend or the outcome of the complaints, and we do not expect it will have a material financial impact on the Company. On June 30, 2016 a complaint was filed with the Federal Equal Employment Opportunity Commission (EEOC) against the Company, alleging wage discrimination on the basis of sex. On June 1, 2018, The U.S. EEOC made a determination that Interim Healthcare of Wyoming violated the Wage discrimination laws (Title VII of the Civil Rights Act of 1964) by paying a male employee more than female employees. The EEOC has determined that back wages for these individuals plus liquidated damages total $43,593, and the Company has recorded an accrual for $17,593 of this amount, as the remainder is in dispute. The company has voluntarily entered into the Conciliation Process with the EEOC to reach a resolution of the matter. |
RELATED PARTY
RELATED PARTY | 6 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
RELATED PARTY | NOTE 11 RELATED PARTY During the first six months of 2018, an officer of the Company advanced $23,000 to the company for operating purposes. The advance bears no interest or maturity. The balance due to the officer is $23,000, as of June 30, 2018. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2018 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 12 - SUBSEQUENT EVENTS Subsequent events have been evaluated through the date and time of this report. There are no material subsequent events to report. |
SUMMARY OF SIGNIFICANT ACCOUN18
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Organization | Organization |
Consolidation | Consolidation |
Accounting Estimates | Accounting Estimates |
Cash and Cash Equivalents | Cash and Cash Equivalents |
Accounts Receivable | Accounts Receivable |
Depreciation | Depreciation |
Income /(Loss) Per Share | Income /(Loss) Per Share |
Leases | Leases - |
Income Taxes | Income Taxes |
Advertising Costs | Advertising Costs |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Level 1. Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Unless otherwise disclosed, the fair value of the Companys financial instruments including cash, accounts receivable, prepaid expenses, and accounts payable and accrued expenses approximates their recorded values due to their short-term maturities. |
Revenue Recognition | Revenue Recognition Revenue is recognized when performance obligations with the customer are satisfied which occurs when services are provided to the customer. Revenue is measured as the amount of consideration expected to be received in exchange for providing services. The Company's sales contain performance obligations satisfied at a point in time when the services are provided. Generally, the time between when revenue is recognized and when payment is due is not significant. Pre-payments received prior to satisfaction of performance obligations through the Recovery Audit Program or RAP payments from Medicare are recorded as a deferred revenue liability. Given the insignificant days between revenue recognition and receipt of payment, financing components do not exist between the Company and its customers. The following table disaggregates revenue by category: For the six months ended June 30, 2018 Medicare Private Pay Medicaid Staffing Ins. Total Wyoming $ 319,107 $ 210,026 $ 91,410 $ - $ 18,977 $ 639,520 Montana - 144,822 91,654 485,305 53,437 775,218 Total Revenues $ 319,107 $ 354,848 $ 183,064 $ 485,305 $ 72,414 $ 1,414,738 For the three months ended June 30, 2018 Medicare Private Pay Medicaid Staffing Ins. Total Wyoming $ 135,235 $ 93,749 $ 45,210 $ - $ 4,680 $ 278,874 Montana - 76,008 50,825 209,898 26,875 363,606 Total Revenues $ 135,235 $ 169,757 $ 96,035 $ 209,898 $ 31,555 $ 642,480 |
Derivative Financial Instruments | Derivative Financial Instruments During the period ending June 30, 2018, we adopted the requirements of the new guidance as of January 1, 2018, utilizing the modified retrospective method of transition. As a result, we recorded a cumulative adjustment to retained earnings as of January 1, 2018, to reflect the effect of the new guidance. The impact of adopting the new guidance resulted in a decrease in the previously recorded derivative liability, an increase in additional paid-in capital and a reduction of retained earnings related to the down-round provisions in the Convertible Note Payable and warrants (see Note 4). The modified retrospective method of transition requires us to disclose the effect of applying the new guidance on each item included in our 2018 financial statements. Following are the line items from our balance sheet as of June 30, 2018, that were affected, the amounts that would have been reported under the former guidance, the effects of applying the new guidance, and the balances reported under the new guidance: Amounts that Effects of Balance would have applying As been reported new guidance reported Assets: - - - Liabilities Derivative liability (21,632) 21,632 - Stockholders’ Deficit Accumulated Deficit 2,727,626 875,628 3,603,254 Additional Paid-In Capital (1,313,160) (897,260) (2,210,420) The following are the line items from the statement of operations for the six-month period ending June 30, 2018, that were affected, the amounts that would have been reported under the former guidance, the effects of applying the new guidance, and the amounts reported under the new guidance: Statement of operations Amounts that would have been reported Effects of applying new guidance Balance As Reported Interest expense 29,387 22,094 51,481 Net income (274,849) (22,094) (296,943) The following are the line items from the statement of operations for the three-month period ending June 30, 2018, that were affected, the amounts that would have been reported under the former guidance, the effects of applying the new guidance, and the amounts reported under the new guidance: Statement of operations Amounts that would have been reported Effects of applying new guidance Balance As Reported Interest expense 9,884 15,936 25,820 Net income (163,204) (15,936) (179,140) |
Recently Enacted Accounting Standards | Recently Enacted Accounting Standards - Other recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Companys present or future financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN19
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Summary Of Significant Accounting Policies | |
Schedule of Disaggregates Revenue | The following table disaggregates revenue by category: For the six months ended June 30, 2018 Medicare Private Pay Medicaid Staffing Ins. Total Wyoming $ 319,107 $ 210,026 $ 91,410 $ - $ 18,977 $ 639,520 Montana - 144,822 91,654 485,305 53,437 775,218 Total Revenues $ 319,107 $ 354,848 $ 183,064 $ 485,305 $ 72,414 $ 1,414,738 For the three months ended June 30, 2018 Medicare Private Pay Medicaid Staffing Ins. Total Wyoming $ 135,235 $ 93,749 $ 45,210 $ - $ 4,680 $ 278,874 Montana - 76,008 50,825 209,898 26,875 363,606 Total Revenues $ 135,235 $ 169,757 $ 96,035 $ 209,898 $ 31,555 $ 642,480 |
Schedule of Balance Sheet | Following are the line items from our balance sheet as of June 30, 2018, that were affected, the amounts that would have been reported under the former guidance, the effects of applying the new guidance, and the balances reported under the new guidance: Amounts that Effects of Balance would have applying As been reported new guidance reported Assets: - - - Liabilities Derivative liability (21,632) 21,632 - Stockholders’ Deficit Accumulated Deficit 2,727,626 875,628 3,603,254 Additional Paid-In Capital (1,313,160) (897,260) (2,210,420) |
Schedule of Statement of Operations | The following are the line items from the statement of operations for the six-month period ending June 30, 2018, that were affected, the amounts that would have been reported under the former guidance, the effects of applying the new guidance, and the amounts reported under the new guidance: Statement of operations Amounts that would have been reported Effects of applying new guidance Balance As Reported Interest expense 29,387 22,094 51,481 Net income (274,849) (22,094) (296,943) The following are the line items from the statement of operations for the three-month period ending June 30, 2018, that were affected, the amounts that would have been reported under the former guidance, the effects of applying the new guidance, and the amounts reported under the new guidance: Statement of operations Amounts that would have been reported Effects of applying new guidance Balance As Reported Interest expense 9,884 15,936 25,820 Net income (163,204) (15,936) (179,140) |
PROPERTY & EQUIPMENT (Tables)
PROPERTY & EQUIPMENT (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Property, Plant and Equipment, Net [Abstract] | |
Schedule of Property and Equipment | The following is a summary of property and equipment at: Life June 30, 2018 December 31, 2017 Furniture, fixtures, and equipment 2-10 yrs $ 36,384 $ 36,384 36,384 36,384 Less: Accumulated depreciation (36,384) (36,384) Property & equipment, net $ - $ - |
WARRANTS (Tables)
WARRANTS (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Warrants and Rights Note Disclosure [Abstract] | |
Summary of Activity | A summary of the status of the warrants granted is presented below for the three months ended: June 30, 2018 December 31, 2017 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of period 3,030,000 $ 0.50 3,030,000 $ 0.50 Granted - - - - Exercised - - - - Expired - - - - Outstanding at end of period 3,030,000 $ 0.50 3,030,000 $ 0.50 |
LEASES (Tables)
LEASES (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Leases [Abstract] | |
Schedule of Future Minimum Lease Payments | The future minimum lease payments for non-cancelable operating leases having remaining terms in excess of one year as of June 30, 2018 are as follows: Twelve months ending June 30 Lease Payments 2019 18,300 2020 16,775 2021 - Thereafter - Total Minimum Lease Payments $ 35,075 |
SUMMARY OF SIGNIFICANT ACCOUN23
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Accounting Policies [Abstract] | |||
Cash in excess of federally insured limits | |||
Allowance for doubtful accounts receivable | 45,200 | $ 20,200 | |
Adjustment to allowance for doubtful accounts receivable | 25,000 | 0 | |
Advertising expense | $ 14,836 | $ 19,456 |
SUMMARY OF SIGNIFICANT ACCOUN24
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Shedule of Disaggregates Revenue) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Total revenue | $ 642,480 | $ 955,423 | $ 1,414,738 | $ 1,950,851 |
Medicare [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 135,235 | 319,107 | ||
PrivatePay [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 169,757 | 354,848 | ||
Medicaid [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 96,035 | 183,064 | ||
Staffing [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 209,898 | 485,305 | ||
Ins. [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 31,555 | 72,414 | ||
Wyoming [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 278,874 | 639,520 | ||
Wyoming [Member] | Medicare [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 135,235 | 319,107 | ||
Wyoming [Member] | PrivatePay [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 93,749 | 210,026 | ||
Wyoming [Member] | Medicaid [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 45,210 | 91,410 | ||
Wyoming [Member] | Staffing [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | ||||
Wyoming [Member] | Ins. [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 4,680 | 18,977 | ||
Montana [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 363,606 | 775,218 | ||
Montana [Member] | Medicare [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | ||||
Montana [Member] | PrivatePay [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 76,008 | 144,822 | ||
Montana [Member] | Medicaid [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 50,825 | 91,654 | ||
Montana [Member] | Staffing [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 209,898 | 485,305 | ||
Montana [Member] | Ins. [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | $ 26,875 | $ 53,437 |
SUMMARY OF SIGNIFICANT ACCOUN25
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Shedule of Balance Sheet) (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Disaggregation of Revenue [Line Items] | ||
Assets: | $ 600,222 | $ 590,046 |
Liabilities | ||
Derivative liability | 43,726 | |
Stockholders' Deficit | ||
Accumulated Deficit | (3,603,254) | (2,452,777) |
Additional Paid-In Capital | 2,210,420 | $ 1,313,160 |
Amounts that would have been reported [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Assets: | ||
Liabilities | ||
Derivative liability | (21,632) | |
Stockholders' Deficit | ||
Accumulated Deficit | 2,727,626 | |
Additional Paid-In Capital | (1,313,160) | |
Effects of applying new guidance [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Assets: | ||
Liabilities | ||
Derivative liability | 21,632 | |
Stockholders' Deficit | ||
Accumulated Deficit | 875,628 | |
Additional Paid-In Capital | (897,260) | |
Balance As reported [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Assets: | ||
Liabilities | ||
Derivative liability | ||
Stockholders' Deficit | ||
Accumulated Deficit | 3,603,254 | |
Additional Paid-In Capital | $ (2,210,420) |
SUMMARY OF SIGNIFICANT ACCOUN26
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Shedule of Statement of Operations) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Interest expense | $ 25,820 | $ 25,518 | $ 51,481 | $ 50,993 |
Net income | (179,140) | $ (46,259) | (296,943) | $ (117,196) |
Amounts that would have been reported [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Interest expense | 9,884 | 29,387 | ||
Net income | (163,204) | (274,849) | ||
Effects of applying new guidance [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Interest expense | 15,936 | 22,094 | ||
Net income | (15,936) | (22,094) | ||
Balance As reported [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Interest expense | 25,820 | 51,481 | ||
Net income | $ (179,140) | $ (296,943) |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Property and equipment | $ 36,384 | $ 36,384 | |
Less: Accumulated depreciation | (36,384) | (36,384) | |
Property & equipment, net | |||
Depreciation expense | 0 | $ 0 | |
Furniture, fixtures and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment | $ 36,384 | $ 36,384 | |
Furniture, fixtures and equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Life | 2 years | ||
Furniture, fixtures and equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Life | 10 years |
NOTES PAYABLE AND CONVERTIBLE28
NOTES PAYABLE AND CONVERTIBLE DEBENTURE (Details) - USD ($) | Jan. 02, 2018 | Sep. 09, 2013 | Jan. 25, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 14, 2017 | Dec. 14, 2016 |
Debt Instrument [Line Items] | ||||||||
Exercise price per share | $ 0.25 | $ 0.10 | ||||||
Derivative liability | $ 43,726 | |||||||
Note payable, current | 25,614 | |||||||
Warrant [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Number of shares purchasable | 3,030,000 | |||||||
Exercise price per share | $ 0.50 | |||||||
Exercisable period | 4 years | |||||||
Greenshoe [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Number of shares purchasable | 2,000,000 | |||||||
Exercise price per share | $ 0.25 | |||||||
Exercisable period | 1 year | |||||||
Notes Payable, Other Payables [Member] | Directors' and officers' insurance [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal amount | $ 26,921 | |||||||
Interest rate | 6.00% | |||||||
Installment term | 10 months | |||||||
Installment amount | $ 3,079 | |||||||
Note payable, current | 12,139 | |||||||
Notes Payable, Other Payables [Member] | Liability insurance [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal amount | $ 22,230 | |||||||
Interest rate | 6.00% | |||||||
Installment term | 10 months | |||||||
Installment amount | $ 2,287 | |||||||
Note payable, current | $ 13,476 | |||||||
Convertible debenture [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Principal amount | $ 1,010,000 | |||||||
Conversion price per share | $ 0.25 | |||||||
Maturity date | Mar. 9, 2015 | |||||||
Accrued interest | $ 385,302 |
CAPITAL STOCK (Details)
CAPITAL STOCK (Details) - $ / shares | Jun. 30, 2018 | Dec. 31, 2017 |
Stockholders' Equity Note [Abstract] | ||
Common stock authorized | 200,000,000 | 200,000,000 |
Common stock par value | $ 0.001 | $ 0.001 |
Common stock outstanding | 11,265,631 | 11,265,631 |
Common stock issued | 11,265,631 |
WARRANTS (Narrative) (Details)
WARRANTS (Narrative) (Details) - $ / shares | Sep. 09, 2013 | Dec. 14, 2017 | Dec. 14, 2016 |
Class of Warrant or Right [Line Items] | |||
Exercise price per share | $ 0.25 | $ 0.10 | |
Warrant [Member] | |||
Class of Warrant or Right [Line Items] | |||
Number of shares purchasable | 3,030,000 | ||
Exercise price per share | $ 0.50 | ||
Exercisable period | 4 years | ||
Extended year | 1 year |
WARRANTS AND GREENSHOE (Summary
WARRANTS AND GREENSHOE (Summary of Activity) (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Warrants and Rights Note Disclosure [Abstract] | ||
Outstanding at beginning of period | 3,030,000 | 3,030,000 |
Granted | ||
Exercised | ||
Expired | ||
Outstanding at end of period | 3,030,000 | 3,030,000 |
Weighted Average Exercise Price | ||
Outstanding at beginning of period | $ 0.50 | $ 0.50 |
Granted | ||
Exercised | ||
Expired | ||
Outstanding at end of period | $ 0.50 | $ 0.50 |
INCOME TAXES (Details)
INCOME TAXES (Details) | Jun. 30, 2018USD ($) |
Income Tax Disclosure [Abstract] | |
Total of all deferred tax assets | $ 1,100,000 |
Deferred tax assets, valuation allowance | $ 1,100,000 |
LEASES (Narrative) (Details)
LEASES (Narrative) (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Operating Leased Assets [Line Items] | ||
Lease expense | $ 38,502 | $ 38,327 |
Casper, Wyoming [Member] | ||
Operating Leased Assets [Line Items] | ||
Monthly lease | $ 4,892 | |
Lease expiration date | Jun. 30, 2018 | |
Billings, Montana [Member] | ||
Operating Leased Assets [Line Items] | ||
Monthly lease | $ 1,525 |
LEASES (Schedule of Future Mini
LEASES (Schedule of Future Minimum Lease Payments) (Details) | Jun. 30, 2018USD ($) |
Twelve months ending June 30 | |
2,019 | $ 18,300 |
2,020 | 16,775 |
2,021 | |
Thereafter | |
Total Minimum Lease Payments | $ 35,075 |
INCOME_ (LOSS) PER SHARE (Narra
INCOME/ (LOSS) PER SHARE (Narrative) (Details) - $ / shares | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 14, 2017 | Dec. 14, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Exercise price per share | $ 0.25 | $ 0.10 | ||
Warrant [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities | 3,030,000 | 3,030,000 | ||
Exercise price per share | $ 0.50 | $ 0.50 | ||
Convertible debenture [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities | 10,100,000 | 4,040,000 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details) | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
Damages Sought | $ 43,593 |
Accrual amount in dispute | $ 17,593 |
RELATED PARTY (Details)
RELATED PARTY (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Related Party Transactions [Abstract] | ||
Proceed from related party advance | $ 23,000 | |
Balance due to officer | $ 23,000 |