Acquisition of North South (Tables)

9 Months Ended

Sep. 30, 2013

Business Combinations [Abstract]

Purchase Price Allocation

Purchase Consideration:
Value of common stock and convertible preferred stock issued to sellers	$	5,510,749
Tangible assets acquired:
Cash		2,684,363
Prepaid expenses		14,503
Net tangible assets acquired		2,698,866
Purchase consideration in excess of fair value of net tangible assets		2,811,883
Allocated to:
Patent portfolios		1,100,000
Goodwill		1,711,883
	$	-

 The purchase price allocation was based, in part, on management’s knowledge of North South’s business and the results of a third party appraisal commissioned by management.

	For the nine months ended September 30, 2013			For the nine months ended September 30, 2012			For the three months ended September 30, 2013			For the three  months ended September 30, 2012
Revenues	$	101,811		$	16,710		$	95,837		$	16,710
Net loss	$	(14,214,571	)	$	(1,720,160	)	$	(9,421,574	)	$	(606,755	)
Loss per share- basic and diluted	$	(6.84	)	$	(1.23	)	$	(4.08	)	$	(0.43	)