Annual report pursuant to Section 13 and 15(d)

Acquisition of business (Tables)

v3.7.0.1
Acquisition of business (Tables)
12 Months Ended
Dec. 31, 2016
Business Combinations [Abstract]  
Schedule of acquired assets, liabilities, and goodwill

Peliminary allocation of the purchase price to the acquired assets, liabilities, and goodwill is presented in the table below.

  

Cash   $ 241,583  
         
Accounts receivable     433,963  
         
Prepaid and other assets     41,448  
         
Property, plant and equipment     25,292  
         
Intangible assets     10,000  
         
Goodwill     1,783,872  
         
Current liabilities     (772,206
         
Purchase price   $ 1,763,952  
Schedule of operational activities

Operating results for this acquisition have been included in the Company’s Consolidated Statements of Operations from the date of acquisition.

 

    2016     2015  
Revenue     8,474,143       8,143,567  
                 
Loss from operations     (591,393 )     (614,410 )
                 
Net Loss     (692,667 )     (614,410 )
                 
Preferred dividend     (106,065 )     (96,013 )
                 
Net loss attributable to common shareholders     (798,732 )     (710,423 )
                 
Net loss per share     (0.01 )     (0.01 )