Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS (Tables)

v3.7.0.1
ACQUISITIONS (Tables)
12 Months Ended
Dec. 31, 2016
Business Combinations [Abstract]  
Schedule of discounted fair value of the consideration transferred

 

 

 

 

 

 

Customer and related relationships

 

$

39,578

 

Website

 

 

177,690

 

Total

 

$

217,268

 

Schedule of Pro forma results


 

 

Year ended December 31,

 

 

 

2016

 

 

2015

 

Total revenue

 

$

3,064,423

 

 

$

3,189,217

 

Total expenses

 

 

6,048,465

 

 

 

5,194,111

 

Net loss attributable to common shareholders

 

$

(3,264,724

)

 

$

(2,343,578

)

Basic and diluted net loss per share

 

$

(0.08

)

 

$

(0.07

)

Schedule of summary of assets acquired

 

Inventory

 

$

58,000

 

Intangibles – website

 

 

80,000

 

Intangibles – trade name

 

 

150,000

 

Intangibles – customer relationships

 

 

252,000

 

Intangibles – non compete agreements

 

 

120,000

 

Total assets acquired

 

$

660,000

 

Schedule of Intangible Assets

 

 

 

December 31,

 

 

 

2016

 

 

2015

 

Website Acquisition Assets

 

$

1,739,179

 

 

$

1,054,444

 

Less: Accumulated Amortization

 

 

(581,045

)

 

 

(328,911

)

Less: Impairment Loss

 

 

(191,020

)

 

 

(95,247

)

Website Acquisition Assets, net

 

$

967,114

 

 

$

630,286