DYNACQ HEALTHCARE INC

CIK:0000890908|SEC Filings

Consolidated Statements of Operations - USD ($)	3 Months Ended
Consolidated Statements of Operations - USD ($)	Nov. 30, 2015	Nov. 30, 2014
Net patient service revenue	$ 1,099,795	$ 2,318,678
Costs and expenses:
Compensation and benefits	1,599,673	1,623,710
Medical services and supplies	410,623	511,387
Other operating expenses	1,185,887	1,251,005
Depreciation and amortization	102,767	86,549
Total costs and expenses	3,298,950	3,472,651
Operating loss	(2,199,155)	(1,153,973)
Other income (expense):
Rent and other income	16,667	21,301
Interest income	87,272	235,115
Interest expense	(110,648)	(102,940)
Total other income (expense), net	(6,709)	153,476
Loss before income taxes	(2,205,864)	(1,000,497)
Provision (benefit) for income taxes	0	0
Net loss	(2,205,864)	(1,000,497)
Less: Net (income) loss attributable to noncontrolling interest	152	(118)
Net loss attributable to Dynacq Healthcare, Inc.	$ (2,205,712)	$ (1,000,615)
Basic and diluted loss per common share (in dollars per share)	$ (0.16)	$ (0.07)
Basic and diluted average common shares outstanding (in shares)	13,601,624	13,888,010

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Nov. 30, 2015	Nov. 30, 2014
Cash flows from operating activities
Net loss	$ (2,205,864)	$ (1,000,497)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation and amortization	102,767	86,549
Stock based compensation	8,311	49,341
Foreign currency exchange losses	95,151	106,578
Changes in operating assets and liabilities:
Accounts receivable	522,080	503,499
Accounts receivable, other	155,400	380,456
Interest receivable	(16,151)	(39,884)
Inventories	10,753	11,767
Prepaid expenses	29,345	120,901
Accounts payable	(38,379)	12,748
Accrued liabilities	317,905	(650,595)
Net cash from operating activities	(1,018,682)	(419,137)
Cash flows from investing activities
Purchase of equipment	(13,313)	(113,720)
Net cash from investing activities	(13,313)	(113,720)
Cash flows from financing activities
Principal payments on notes payable	0	(6,734)
Purchase of treasury stock	0	(27,061)
Payments on capital lease	(7,475)	(4,718)
Net cash from financing activities	(7,475)	(38,513)
Net change in cash and cash equivalents	(1,039,470)	(571,370)
Cash at beginning of period	15,829,349	16,819,504
Cash at end of period	14,789,879	16,248,134
Cash paid during the period for:
Interest	552	669
Income taxes	0	0
Non cash investing and financing activities:
Unrealized change in fair value of available-for-sale securities	469,547	(1,670,945)
Retirement of treasury stock	$ 5,825	$ 0

Consolidated Balance Sheets - USD ($)	Nov. 30, 2015	Aug. 31, 2015
Current assets:
Cash and cash equivalents	$ 14,789,879	$ 15,829,349
Accounts receivable, net of allowances of approximately $38,668,000 and $38,117,000	944,163	1,466,243
Accounts receivable, other	0	155,400
Inventories	247,025	257,778
Interest receivable	70,285	54,134
Prepaid expenses	100,084	129,429
Total current assets	16,151,436	17,892,333
Investments available-for-sale	11,313,206	10,938,811
Property and equipment, net	6,171,646	6,261,100
Income tax receivable	800,920	800,920
Other assets	187,101	187,101
Total assets	34,624,309	36,080,265
Current liabilities:
Accounts payable	942,733	981,112
Accrued liabilities	16,553,043	16,235,138
Current portion of capital lease obligations	30,986	30,548
Total current liabilities	17,526,762	17,246,798
Non-current liabilities:
Long-term portion of capital lease obligations	2,663	10,576
Total liabilities	$ 17,529,425	$ 17,257,374
Commitments and contingencies
Dynacq stockholders' equity:
Preferred stock, $.01 par value; 5,000,000 shares authorized, none issued or outstanding	$ 0	$ 0
Common stock, $.001 par value; 100,000,000 shares authorized, 13,601,624 shares issued and outstanding at November 30, 2015; 13,715,849 shares issued and 13,601,624 shares outstanding at August 31, 2015	13,602	13,716
Treasury stock, 114,225 shares at August 31, 2015, at cost	0	(5,825)
Additional paid-in capital	10,493,985	10,491,386
Accumulated other comprehensive income	7,557,436	7,087,889
Retained earnings (accumulated deficit)	(1,034,026)	1,171,686
Total Dynacq stockholders’ equity	17,030,997	18,758,852
Non-controlling interest	63,887	64,039
Total equity	17,094,884	18,822,891
Total liabilities and equity	$ 34,624,309	$ 36,080,265