Acquisitions

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Note 9. Acquisitions 

On April 7, 2014, the Company closed on an Asset Purchase Agreement (“Agreement”) with CardRunners Gaming, Inc. to acquire business assets and intellectual property related to DraftDay.com for cash consideration of $600 and stock consideration of $190, consisting of 95,166 shares of Company’s Common Stock at $2.00 per share (valued on the date of close).

The Company recorded the purchase using the acquisition method of accounting as specified in ASC 805 “Business Combinations.” This method of accounting requires the acquirer to (i) record purchase consideration issued to sellers in a business combination at fair value on the date control is obtained, (ii) determine the fair value of any non-controlling interest, and (iii) allocate the purchase consideration to all tangible and intangible assets acquired and liabilities assumed based on their acquisition date fair values. The Company commenced reporting the results from operations on a consolidated basis effective upon the date of acquisition.

The following table summarizes the preliminary fair values of the net assets/liabilities assumed and the allocation of the aggregate fair value of the purchase consideration to assumed identifiable intangible assets: 

Cash	$	600
Common stock – 95,166 shares at $2.00 per share		190
Total purchase price	$	790

Cash	$	547
Customer list		51
Domains		64
Website		675
Player deposit liability		(547)
Total purchase price allocation	$	790