Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.8.0.1
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2017
Summary of Significant Accounting Policies [Abstract]  
Summary of estimated amortization expense of intangible assets
For the year ending December 31,:      
2017   $ 147,316  
2018     589,264  
2019     144,064  
2020     144,064  
2021     144,064  
Thereafter     2,006,791  
    $ 3,175,563  
Summary of financial assets and liabilities measured at fair value on recurring basis

   

September 30,

2017

   

Quoted

prices in

active market

for identical

assets

(Level l)

   

Significant

other

observable

inputs

(Level 2)

   

Significant

unobservable

inputs

(Level 3)

 
Short-term investment   $ 30,029     $      -     $ 30,029     $      -  

 

    December 31, 2016     Quoted
prices in
active market
for identical
assets
(Level l)
    Significant other observable inputs 
(Level 2)
    Significant unobservable inputs 
(Level 3)
 
Short-term investment   $ 30,017     $     -     $ 30,017     $ -  
Conversion option liabilities   $ 384,461     $ -     $ -     $ 384,461  

 

Summary of changes in fair value of company's level 3 financial liabilities measured on recurring basis

   

Successor

for the

nine months

ended
September 30, 
2017

   

Successor

for the

nine months

ended
September 30,

2016

 
Beginning balance   $ 384,461     $ -  
Aggregate fair value of conversion option liabilities issued     -       394,460  
Change in fair value related to conversion of convertible debentures     (288,134 )     -  
Change in fair value of conversion option liabilities and warrants     (96,327 )     (18,345 )
Ending balance   $ -     $ 376,115