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IIDRC EMERGENCY SERVICES,LLC
IBALANCE SHEET
DECEMBER 31,2016
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ASSETS
I Current Assets:
Cash S 2,561,942
Accounts receivable 15,994,508
I Other receivables 655,813
Notes receivable-current portion 170,686
Prepaid expenses 83,379
ITotal Current Assets 19,466,328
Property and Equipment:
I Property, plant and equipment 2,115,205
Land 1,500,000
Less accumulated depreciation (652,321)
INet Property and Equipment 2,962,884
Other Assets:
Deposits 26,459
INotes receivable 175,677
Other receivables-related party 11,333
I 213,469
Total Assets $ 22,642,681
ILIABILITIES AND MEMBERS'EQUITY
Current Liabilities:
I Accounts payable $ 7,221,491
Payroll liabilities 145,976
Accrued expenses 1,409,303
Other current liabilities 68,442
1 Total Current Liabilities 8,845,212
Other Liabilities:
IRelated party payables 7,501,653
Total Liabilities 16,346,865
IMembers' Capital:
Members'capital 6,295,816
1 Total Liabilities and Members'Capital $ 22,642,681
ISee accompanying notes and independent accountant's review report.
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DRC Emergency Services,LLC 101
I RFP No.18-04-02
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DRC EMERGENCY SERVICES,LLC
ISTATEMENT OF OPERATIONS
I FOR THE PERIOD JANUARY 19,2016
THROUGH DECEMBER 31,2016
1 Revenue,Net of Returns and Allowances: $ 69,454,784
Cost of Services: 56,621,243
IGross Profit 12,833,541
I Operating Expense:
Depreciation expense 763,528
Employee costs 1,724,880
General and administrative expens 850,426
I Insurance and bonding 304,089
Other overhead costs 70,667
Rent 257,143
I Repairs and maintenance 69,596
Sales and marketing costs 774,805
Travel and entertainment 193,370
IITotal Operating Expenses 5,008,504
Income from Operations 7,825,037
IOther Income and(Expense):
Gain/(loss)on asset disposal (457,005)
Other expense-settlement (3,672,483)
IOther income 523,239
Total Other Income(Expense) (3,606,249)
iNet Income $ 4,218,788
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ISee accompanying notes and independent accountant's review report.
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DRC Emergency Services,LLC 102
I RFP No.18-04-02
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DRC EMERGENCY SERVICES,LLC
STATEMENT OF CHANGES IN MEMBERS'EQUITY
FOR THE PERIOD JANUARY 19,2016
THROUGH DECEMBER 31,2016
Balance-January 19,2016 $ 1,950,001
Members'Contribution 127,027
Net Income 4,218,788
Balance-December 31,2016 $ 6,295,816
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See accompanying notes and independent accountant's review report.
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DRC EMERGENCY SERVICES,LLC
ISTATEMENT OF CASH FLOWS
I FOR THE PERIOD JANUARY 19,2016
THROUGH DECEMBER 31,2016
I Cash Flows from Operating Activities:
Net income $ 4,218,788
Adjustments to reconcile net income
to net cash provided by operating activities:
Depreciation and amortization 763,556
(Gain)/loss on sale of fixed assets 457,005
I (Increase)in accounts receivable (15,994,508)
(Increase)in prepaid expenses (83,379)
(Increase)in refundable deposits (27,595)
(Increase)in other receivables (655,813)
I Increase in accounts payable 7,221,491
Iincrease in related party payables 3,913,990
Increase in accrued liabilities 1,477,745
ITotal Adjustments (2,927,508)
Net Cash Provided by Operating Activities 1,291,280
ICash Flows from Investing Activities:
Proceeds from the disposal of property 97,990
Cash payments for the purchase of property (2,057)
INet Cash Provided by Investing Activities 95,933
Cash Flows from Financing Activities:
® Collection of principal on notes receivable 27,824
® Note receivable issued (210,000)
Member contributions 127,027
I Proceeds from the issuance of debt 11,350,000
Principal payments on debt (10,120,122)
Net Cash Provided by Financing Activities 1,174,729
INet Increase in Cash and Cash Equivalents 2,561,942
ICash and Cash Equivalents,Beginning of Period -
Cash and Cash Equivalents, End of Period $ 2,561,942
I Supplemental cash flow information:
Cash paid during the year for interest $ 104,847
Assets acquired through the issuance of debt $ 6,043,013
ISee accompanying notes and independent accountant's review report.
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DRC Emergency Services,LLC 104
I RFP No.18-04-02