Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Current Period Unaudited)

v3.8.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 4,033,730 $ 4,216,221
Restricted cash 134,189 103,819
Accounts receivable, net 1,047,540 1,138,380
Notes receivable - current portion 176,262 171,928
Deferred franchise costs - current portion 522,123 498,433
Prepaid expenses and other current assets 733,502 542,342
Total current assets 6,647,346 6,671,123
Property and equipment, net 3,719,459 3,800,466
Notes receivable, net of current portion and reserve 306,132 351,857
Deferred franchise costs, net of current portion 2,422,698 2,312,837
Intangible assets, net 1,636,978 1,760,042
Goodwill 2,916,426 2,916,426
Deposits and other assets 594,213 611,808
Total assets 18,243,252 18,424,559
Current liabilities:    
Accounts payable 935,658 1,068,668
Accrued expenses 197,812 86,959
Co-op funds liability 134,189 89,681
Payroll liabilities 846,919 867,430
Notes payable - current portion 100,000 100,000
Deferred rent - current portion 173,010 152,198
Deferred franchise revenue - current portion 1,986,524 1,994,182
Deferred revenue from company clinics 905,625 867,804
Other current liabilities 388,354 72,534
Total current liabilities 5,668,091 5,299,456
Notes payable, net of current portion 1,000,000 1,000,000
Deferred rent, net of current portion 750,010 802,492
Deferred franchise revenue, net of current portion 9,602,898 9,560,242
Deferred tax liability 57,191 136,434
Other liabilities 106,562 411,497
Total liabilities 17,184,752 17,210,121
Commitments and contingencies
Stockholders' equity:    
Series A preferred stock, $0.001 par value; 50,000 shares authorized, 0 shares issued and outstanding, as of March 31, 2018, and December 31, 2017
Common stock, $0.001 par value; 20,000,000 shares authorized, 13,607,838 shares issued and 13,593,754 shares outstanding as of March 31, 2018 and 13,600,338 shares issued and 13,586,254 outstanding as of December 31, 2017 13,607 13,600
Additional paid-in capital 37,460,828 37,229,869
Treasury stock 14,084 shares as of March 31, 2018 and December 31, 2017, at cost (86,045) (86,045)
Accumulated deficit (36,329,890) (35,942,986)
Total stockholders' equity 1,058,500 1,214,438
Total liabilities and stockholders' equity $ 18,243,252 $ 18,424,559