Annual report pursuant to Section 13 and 15(d)

ACQUISITION OF COORDINATES COLLECTION (Tables)

v3.7.0.1
ACQUISITION OF COORDINATES COLLECTION (Tables)
12 Months Ended
Dec. 31, 2016
Business Combinations [Abstract]  
Schedule of purchase price over the value of the net assets acquired

The excess of purchase price over the value of the net assets acquired was recorded as goodwill.

 

Total Purchase Consideration:        
Common stock issued   $ 770,000  
Estimated fair value of contingent payments     424,511  
    $ 1,194,511  
Schedule of estimated fair values of the tangible and intangible assets acquired

The following table summarizes the estimated fair values of the tangible and intangible assets acquired as of the date of Acquisition:

 

Net assets acquired:        
Equipment   $ 32,564  
Developed technology - website     117,500  
Developed technology – Ipad application     117,500  
Tradename     365,000  
Proprietary design     80,000  
Goodwill     481,947  
    $ 1,194,511