AMERICAN DOCTORS ONLINE, INC.

CIK:0001164191|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Fee revenue, net	$ 120,361	$ 125,457	$ 239,320	$ 246,778
Operating expenses:
Salaries and management fees (including stock compensation expenses of $6,289 and $16,931 for the three and six months ended June 30, 2015, respectively, and $94,311 and $188,624 for the three and six months ended June 30, 2014, respectively)	79,559	204,827	163,996	409,759
Professional and consulting fees (including stock compensation expense of $455,617 for the three and six months ended June 30, 2014)	$ 118,319	692,279	$ 232,282	840,683
Advertising and marketing		1,559		1,559
Rent and occupancy costs	$ 14,210	21,510	$ 28,838	42,432
Travel and entertainment	2,202	16,579	3,586	23,866
Insurance	4,652	15,117	11,445	30,200
Depreciation and amortization	5,391	5,878	10,987	12,081
Other general and administrative	16,160	14,864	33,599	55,701
Total operating expenses	240,493	972,613	484,733	1,416,281
Operating loss	(120,132)	(847,156)	(245,413)	(1,169,503)
Other Expense:
Interest expense	(814)	(9,844)	(2,114)	(10,910)
Interest expense, stockholder	(1,471)	(521)	(3,285)	(2,551)
Total other expense	(2,285)	(10,365)	(5,399)	(13,461)
Net loss	(122,417)	(857,521)	(250,812)	(1,182,964)
Less net income attributable to noncontrolling interest	3,419	11,272	5,812	16,179
Net loss attributable to American Doctors Online, Inc.	$ (125,836)	$ (868,793)	$ (256,624)	$ (1,199,143)
Basic and diluted loss attributable to American Doctors Online, Inc. common stockholders, per share	$ (0.01)	$ (0.08)	$ (0.02)	$ (0.11)
Weighted average number of common shares outstanding, Basic and diluted	12,192,409	11,382,685	12,192,409	11,321,925

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (250,812)	$ (1,182,964)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Non cash interest expense series B convertible preferred stock		8,750
Depreciation and amortization	$ 10,987	12,081
Stock based compensation	16,931	644,241
Change in operating assets and liabilities:
(Increase) decrease in prepaid expenses	(15,402)	12,500
Decrease in accounts receivable	47,596	14,776
Increase in accounts payable and accrued expenses	188,528	$ 294,211
Decrease in deferred rent	(12,213)
Increase in accounts payable and accrued expenses, related parties	40,452	$ 91,552
Net cash provided by (used in) operating activities	26,067	(104,853)
Cash flows from investing activities:
Payment of patent pending costs	(30,182)	(12,969)
Net cash used in investing activities	$ (30,182)	(12,969)
Cash flows from financing activities:
Proceeds from sale of Series B Preferred Stock		$ 26,250
Proceeds from the issuance of convertible notes, related party	$ 5,000
Repayments on convertible notes, related party	$ (5,000)
Net cash provided by financing activities		$ 26,250
Net decrease in cash and cash equivalents	$ (4,115)	(91,572)
Cash and cash equivalents, Beginning	49,898	96,782
Cash and cash equivalents, Ending	$ 45,783	5,210
Supplemental disclosure of cash flow information:
Cash paid for interest		$ 2,159
Cash paid for income taxes

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 45,783	$ 49,898
Accounts receivable	56,006	$ 103,602
Prepaid assets	15,402
Total current assets	117,191	$ 153,500
Patents Pending	153,071	122,889
Patents, net of accumulated amortization of $41,417 (2015) and $38,779 (2014)	46,180	48,818
Furniture, fixtures and equipment, net of accumulated depreciation of $194,972 (2015) and $186,622 (2014)	11,425	19,775
Total assets	327,867	344,982
Current Liabilities:
Accounts payable and accrued expenses	795,749	607,221
Accounts payable and accrued expenses, related parties	337,860	297,411
Series B convertible preferred stock obligation	179,667	179,667
Deferred rent	40,711	52,924
Total current liabilities	1,353,987	1,137,223
Convertible notes payable, stockholder	119,055	119,055
Total liabilities	$ 1,473,042	$ 1,256,278
Commitment and Contingencies (Note 9)
Deficit:
Preferred stock, $0.01 par value; 15,000,000 shares authorized, Series A Convertible Preferred Stock, $0.01 par value, 3,500,000 shares authorized; 3,500,000 shares issued and outstanding	$ 35,000	$ 35,000
Common stock, $0.01 par value; 100,000,000 shares authorized; 12,192,408 shares issued and outstanding	121,923	121,923
Additional paid-in capital	17,424,972	17,408,041
Accumulated deficit	(16,320,633)	(16,064,010)
Total company stockholders' equity	1,261,262	1,500,954
Less noncontrolling interest	(2,406,437)	(2,412,250)
Total Deficit	(1,145,175)	(911,296)
Total Liabilities and Stockholders' Deficit	$ 327,867	$ 344,982