First Choice Healthcare Solutions, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - November 15, 2012
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DEPOSITS - ACQUISITIONS
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9 Months Ended |
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Sep. 30, 2012
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| Business Combinations [Abstract] | |
| Business Combination Disclosure [Text Block] | NOTE 4 - DEPOSITS - ACQUISITIONS
On October 5, 2011, FCID Medical, Inc., a wholly owned subsidiary of the Company, entered into a Membership Interest Purchase Agreement ("Agreement") to acquire all of the issued and outstanding membership interests of First Choice Medical Group of Brevard, LLC, a Delaware limited liability company authorized to do business in Florida. As of December 31, 2011, the Company had paid $998,032 toward the purchase price, which had been classified as deposits and other-acquisitions in the accompanying unaudited condensed consolidated balance sheets.
As described in Note 1 above, on April 2, 2012, the Company acquired First Choice Medical Group of Brevard LLC for a total acquisition price of $2,524,000 comprised of deposits (included $1,141,398 of deposits-acquisitions and $508,000 of accounts receivable-other reclassified and applied to deposits and other-acquisitions at close) as described above, a note payable for $88,794 and 244,045 shares of the Company's common stock. |
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