| Summary of the effects of the restatement on each financial statement line item affected by the restatement as of the dates, and for the periods |
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As Previously |
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Network |
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Preferred Returns |
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Class A Units |
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Revenue |
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Reported |
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Adjustment |
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Adjustment |
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Adjustments |
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Adjustment |
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As Restated |
Condensed Consolidated Statement of Operations for the Three Months Ended March 31, 2021 (Unaudited) |
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Capitated Revenue |
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$ |
147,700,465 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
1,263,725 |
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$ |
148,964,190 |
Other Patient Service Revenue |
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3,863,915 |
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— |
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— |
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— |
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(1,530,165) |
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2,333,750 |
Total Operating Revenue |
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151,564,380 |
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— |
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— |
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— |
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(266,440) |
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151,297,940 |
Medical Expenses |
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146,890,945 |
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— |
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— |
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— |
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(266,440) |
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146,624,505 |
Total Operating Expenses |
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164,552,810 |
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— |
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— |
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— |
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(266,440) |
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164,286,370 |
Interest Expense, net |
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(4,081,134) |
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— |
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1,956,848 |
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— |
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— |
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(2,124,286) |
Total Other Expenses |
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(13,619,130) |
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— |
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1,956,848 |
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— |
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— |
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(11,662,282) |
Net Loss Attributable to Non-Controlling Interests |
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(3,282,292) |
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3,282,292 |
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— |
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— |
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— |
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— |
Net Loss (formerly Net Loss Attributable to Controlling Interests) |
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(23,325,268) |
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(3,282,292) |
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1,956,848 |
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— |
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— |
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(24,650,712) |
Condensed Consolidated Statements of Changes in Members’ Deficit for the 3 Months Ended March 31, 2021 |
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Preferred Return at 8% for Class A Units |
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$ |
890,612 |
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$ |
— |
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$ |
(890,612) |
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$ |
— |
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— |
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$ |
— |
Net Loss |
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(26,607,560) |
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— |
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1,956,848 |
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— |
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— |
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(24,650,712) |
Balance as of March 31,2021 |
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(122,918,168) |
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— |
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5,633,581 |
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(43,656,269) |
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6,532,954 |
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(154,407,902) |
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Condensed Consolidated Statements of Cash Flows for the 3 Months Ended March 31, 2021 |
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Net Loss |
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$ |
(26,607,560) |
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$ |
— |
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$ |
1,956,848 |
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— |
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— |
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$ |
(24,650,712) |
Class A and Class D Preferred Returns |
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1,956,848 |
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— |
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(1,956,848) |
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— |
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— |
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— |
Consolidated Statements of Changes in Members’ Deficit for the Year Ended December 31, 2020 |
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Balance as of December 31, 2020 |
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$ |
(97,661,735) |
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$ |
— |
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$ |
4,567,346 |
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$ |
(43,656,270) |
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$ |
6,532,954 |
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$ |
(130,217,705) |
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