XML 79 R21.htm IDEA: XBRL DOCUMENT v2.4.1.9
Business Combination (Tables)
12 Months Ended
Dec. 31, 2014
Business Combinations [Abstract]  
Purchase price allocation
As of December 31, 2014, the total purchase consideration and the purchase price allocation were as follows:
 
Fair value of assumed equity allocated to purchase consideration
 
$
10,985,867
 
Total purchase consideration
 
$
10,985,867
 
 
 
 
 
 
Goodwill
 
$
8,858,504
 
Intangible asset contract rights
 
 
1,342,000
 
Other assets acquired
 
 
816,045
 
Liabilities assumed
 
 
(30,682)
 
Total purchase allocation
 
$
10,985,867
 
Supplemental Pro Forma Information
Supplemental Pro Forma Information. The financial information in the table below summarizes the results of operations of the Company following the consummation of the Merger, on a pro forma basis, as though the companies had been combined as of the beginning of fiscal 2013. The pro forma financial information is presented for informational purposes only for the purpose of comparing the twelve months ended December 31, 2014 with the twelve months ended December 31, 2013 and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2013 or of results that may occur in the future.
 
 
 
For the twelve months ended
 
 
 
December 31,
 
 
 
2014
 
2013
 
Revenue
 
$
1,122,234
 
$
744,000
 
Net loss
 
$
24,711,553
 
$
4,495,400