XML 29 R19.htm IDEA: XBRL DOCUMENT v3.7.0.1
ACQUISITION OF RVR DIAGNOSTICS SDN BHD (Details) - USD ($)
3 Months Ended 6 Months Ended
Jan. 09, 2017
Jun. 30, 2017
Mar. 31, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Fair values of Assets Acquired and Liabilities Assumed [Abstract]                
Goodwill $ 1,503,361 $ 1,571,104     $ 1,571,104 $ 1,571,104   $ 0
Deferred Income Taxes and Other Tax Liabilities, Noncurrent (307,636)              
Other intangible assets (estimated useful life):                
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax   67,743            
Finite-Lived Intangible Assets, Gross   1,881,250     1,881,250 1,881,250    
Finite-Lived Intangible Assets, Accumulated Amortization   292,282     292,282 292,282    
Finite-Lived Intangible Assets, Net, Total   1,588,968     1,588,968 1,588,968   $ 0
Net sales   4,114,814   $ 3,266,405   10,439,980 $ 9,867,504  
Income before income taxes   (2,173,093)   $ (2,384,664)   (3,788,667) (2,850,254)  
Intellectual Property [Member]                
Other intangible assets (estimated useful life):                
Finite-Lived Intangible Assets, Gross   836,049     836,049 836,049    
Finite-Lived Intangible Assets, Accumulated Amortization   41,802     41,802 41,802    
Finite-Lived Intangible Assets, Net, Total   794,247     794,247 794,247    
Customer Contracts / Relationships [Member]                
Other intangible assets (estimated useful life):                
Finite-Lived Intangible Assets, Gross   731,543     731,543 731,543    
Finite-Lived Intangible Assets, Accumulated Amortization   36,577     36,577 36,577    
Finite-Lived Intangible Assets, Net, Total   694,966     694,966 694,966    
Order Backlog [Member]                
Other intangible assets (estimated useful life):                
Finite-Lived Intangible Assets, Gross   209,152     209,152 209,152    
Finite-Lived Intangible Assets, Accumulated Amortization   209,152     209,152 209,152    
Finite-Lived Intangible Assets, Net, Total   0     0 0    
Trade Names [Member]                
Other intangible assets (estimated useful life):                
Finite-Lived Intangible Assets, Gross   104,506     104,506 104,506    
Finite-Lived Intangible Assets, Accumulated Amortization   4,751     4,751 4,751    
Finite-Lived Intangible Assets, Net, Total   99,755     99,755 99,755    
RVR Diagnostics Sdn Bhd [Member]                
Business Acquisition [Line Items]                
Deposit for investments $ 550,000              
Shares issued (in shares) 269,236              
Shares issued , value $ 1,683,000              
Shares held back (in shares) 7,277              
Maximum overage $ 250,000              
Actual sales achieved 250,000              
Amount accrued     $ 148,000          
Estimated value of common stock     $ 85,000          
Percentage of milestone payments     74.50%          
Discounted percentage     15.00%          
Cash portion of milestone payment     $ 63,000          
Business acquisition transaction costs   $ 25,000     25,000 25,000    
Fair values of Assets Acquired and Liabilities Assumed [Abstract]                
Property, plant and equipment 235,141              
Goodwill 1,503,361              
Other intangible assets (estimated useful life):                
Other intangible assets 1,800,000              
Total consideration [1] 3,231,000              
Cash payment 1,400,000              
Consideration in common stock value 1,683,000              
Contingent consideration 148,000              
Net sales         1,423,000      
Income before income taxes         (150,000)      
Unaudited Pro Forma Operating Results [Abstract]                
Total Revenue             10,158,295  
Net loss             $ (8,643,841)  
Net loss per common share             $ (0.90)  
Diluted net loss per common share             $ (0.90)  
Amortization of Intangible Assets         $ 292,000 $ 292,000    
RVR Diagnostics Sdn Bhd [Member] | Intellectual Property [Member]                
Other intangible assets (estimated useful life):                
Other intangible assets 800,000              
Weighted average useful life           10 years    
RVR Diagnostics Sdn Bhd [Member] | Customer Contracts / Relationships [Member]                
Other intangible assets (estimated useful life):                
Other intangible assets 700,000              
Weighted average useful life           10 years    
RVR Diagnostics Sdn Bhd [Member] | Order Backlog [Member]                
Other intangible assets (estimated useful life):                
Other intangible assets 200,134              
Weighted average useful life           3 months    
RVR Diagnostics Sdn Bhd [Member] | Trade Names [Member]                
Other intangible assets (estimated useful life):                
Other intangible assets 100,000              
Weighted average useful life           11 years    
RVR Diagnostics Sdn Bhd [Member] | Minimum [Member]                
Business Acquisition [Line Items]                
Actual sales to determine Milestone Proration Amount 2,250,000              
RVR Diagnostics Sdn Bhd [Member] | Maximum [Member]                
Business Acquisition [Line Items]                
Cash milestone payment $ 100,000              
Stock milestone payment (in shares) 21,830              
[1] Total consideration includes the $1,400,000 paid in cash, the $1,683,000 in common stock value and $148,000 in contingent consideration.