Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.7.0.1
DISCONTINUED OPERATIONS (Tables) - Memcine [Member]
6 Months Ended
Jun. 30, 2017
Summarizes of net assets acquired

The following table summarizes the allocation of the purchase price to the net assets acquired:

 

Fair value at June 2, 2015      
Cash   $ 27,071  
Property, plant and equipment     18,071  
IPR&D     212,541  
Total assets     257,683  
         
Accounts payable and accrued liabilities     (854 )
Deferred liabilities     (220,465 )
Total liabilities     (221,319 )
Net assets acquired   $ 36,364  

Disposal Groups, Including Discontinued Operations

The following table summarizes the results of the Memcine business included in the consolidated statement of income as discontinued operations:

 

   

Six Months

Ended

June 30,

2016

 
Sales   $ -  
General and administrative expenses     109,550  
Depreciation     874  
Loss before taxes     (110,424 )
Income taxes     -  
Net loss from discontinued operations   $ (110,424 )