ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of pro forma financial information

The following unaudited proforma financial information gives effect to the Company’s acquisition of FIN as if the acquisition had occurred on January 1, 2015 and had been included in the Company’s consolidated statement of operations for the years ended 2016 and 2015.

	Year ended December 31
	2016			2015
Proforma net revenue	$	2,051,494		$	2,309,547
Proforma net loss		(9,858,944	)		(36,945,398	)

Schedule for activity of goodwill

The activity for goodwill for the years ending December 31, 2016 and 2015 is as follows: 

Balance, January 1, 2015	$	—
Acquisition of Multipay		166,689
Balance, December 31, 2015		166,689
Acquisition of FIN Holdings		6,569,354
Balance, December 31, 2016	$	6,736,043

Multipay S.A., a Colombian Corporation [Member]

Schedule of fair values of assets and liabilities

The following table summarizes the total fair value of consideration transferred as well as the fair values of the assets acquired and liabilities assumed.

Common stock consideration	$	860,491
Liabilities assumed		909,721
Total purchase consideration		1,770,212
Current assets		(295,655	)
Property and equipment		(20,000	)
Customer relationships		(14,087	)
Intellectual property		(1,273,781	)
Goodwill	$	166,689

Fin Holdings, Inc. [Member]

Schedule of fair values of assets and liabilities

The following table summarizes the total fair value of the consideration transferred as well as the fair values of the assets and liabilities assumed.

Common stock consideration	$	9,000,000
Liabilities assumed		914,218
Total purchase consideration		9,914,218
Current assets		(843,317	)
Property and equipment		(100,339	)
Customer relationships		(1,587,159	)
Intellectual property		(814,049	)
Goodwill	$	6,569,354