Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

v3.21.2
Acquisition (Tables)
 6 Months Ended
Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The allocation of the purchase price was as follows:

Property and equipment $ 4,928 
Operating lease right-of-use asset 651,197 
Intangible assets 1,536,400 
Total assets acquired 2,192,525 
Goodwill 502,697 
Deferred revenue (123,974)
Operating lease liability - current portion (49,303)
Operating lease liability - net of current portion (626,362)
Net purchase consideration $ 1,895,583 
The allocation of the purchase price was as follows:
Property and equipment $ 524,046 
Operating lease right-of-use asset 865,813 
Intangible assets 2,187,472 
Total assets acquired 3,577,331 
Deferred revenue (244,998)
Operating lease liability - current portion (185,181)
Operating lease liability - net of current portion (637,565)
Net purchase consideration $ 2,509,587 
Schedule of Business Acquisition, Pro Forma Information The following table summarizes selected unaudited pro forma condensed consolidated income statements for the three and six months ended June 30, 2021 and 2020 as if both the AZ Clinics Purchase and the NC Clinics Purchase in 2021 had been completed on January 1, 2020.
Three Months Ended Six Months Ended
June 30, June 30,
2021 2020 2021 2020
Revenues, net $ 20,218,798  $ 13,297,111  $ 38,674,601  $ 27,730,699 
Net income 2,711,239  47,267  4,965,003  844,630