Supplemental Disclosure of Non-cash Activity
|9 Months Ended|
Sep. 30, 2017
|Notes to Financial Statements|
|Cash Flow, Supplemental Disclosures [Text Block]||
September 30, 2017and
2016,cash paid for income taxes was
$10,466,respectively. During the
September 30, 2017and
2016,cash paid for interest was
Supplemental disclosure of non-cash activity:
September 30, 2016,we had property and equipment purchases of
$7,105which were included in accounts payable.
In connection with our acquisitions of franchises during the
September 30, 2016,we acquired
$293,014of property and equipment, intangible assets of
$269,780and assumed deferred revenue associated with membership packages paid in advance of
$45,072in exchange for
$839,000in cash and notes payable issued to the sellers for an aggregate amount of
$186,000.Additionally, at the time of these transactions, we carried deferred revenue of
$29,000,representing franchise fees collected upon the execution of franchise agreements, and deferred costs of
$1,450,related to our acquisition of undeveloped franchises. We netted these amounts against the aggregate purchase price of the acquisitions (Note
In connection with our reacquisition and termination of regional developer rights during the
September 30, 2016,we had deferred revenue of
$224,750representing license fees collected upon the execution of the regional developer agreements. In accordance with ASC-
605,we netted these amounts against the aggregate purchase price of the acquisitions.
In connection with our sale of the regional developer territories in Central Florida, Maryland/Washington DC, and Minnesota we issued notes receivable in the amount of
$423,622with revenue to be recognized over the anticipated number of clinics to be opened in the respective territories. We have recognized
$9,412of revenue related to these notes in the
September 30, 2017.
The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.
Reference 1: http://www.xbrl.org/2003/role/presentationRef