Annual report pursuant to Section 13 and 15(d)

6. ACQUISITIONS (Tables)

v3.3.1.900
6. ACQUISITIONS (Tables)
12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Schedule of allocation of purchase price
Cash consideration   $ 250,000  
Company common stock     1,150,000  
Contingent purchase price liability     250,000  
Contingent purchase price equity     3,489,000  
Aggregate consideration   $ 5,139,000  
         
The purchase price was allocated as follows:        
In-process research and development   $ 3,730,000  
Trade names     100,000  
Non-compete agreements     77,000  
Deferred tax liability     (1,556,300 )
Goodwill     2,788,300  
Total purchase price allocation   $ 5,139,000  
Proforma effects of acquisition
    (Unaudited)  
    For the years ended December 31,  
    2015     2014  
Total product sales, net   $ 11,695,570     $ 10,190,667  
Net loss    

(12,368,106

)     (1,311,951 )
Net loss per common share:    

 

         
Basic   $ (0.35 )   $ (0.04 )