Investment in Aspire Consulting Group, LLC

9 Months Ended

Sep. 30, 2016

Investments Schedule [Abstract]

Investment in Aspire Consulting Group, LLC

NOTE 7 – INVESTMENT IN ASPIRE CONSULTING GROUP, LLC

On January 5, 2016, the Company entered into a Share Exchange Agreement with Aspire Consulting Group, LLC, a Virginia limited liability company and certain members of Aspire. Pursuant to the terms of the Exchange Agreement, the Company agreed to acquire 49% of all of the issued and outstanding membership units of Aspire in exchange for the issuance of 66,667 shares of the Company’s newly created Series B Convertible Preferred Stock to the Members valued at $460,002.

The Company has concluded that it has the ability to exercise significant influence, but not control, over an Aspire through its acquired 49% equity interest and therefore has accounted for the acquisition of the interest under the equity method.

The following table presents details of the Company’s investment is Aspire as of September 30, 2016 and December 31, 2015:

	Amount
Balance December 31, 2015	$	-
Fair value of shares issued for ownership 49% interest in Aspire		460,002
Income from equity method investee		12,208
Distributions received from Aspire		(24,335	)
Balance June 30, 2016	$	447,875