Quarterly report pursuant to Section 13 or 15(d)

APP Merger Transaction (Tables)

v3.7.0.1
APP Merger Transaction (Tables)
 6 Months Ended
Mar. 31, 2017
APP Merger Transaction [Abstract]  
Summary of Total Purchase Consideration



 

 



 

 

Common stock

$

 1,826,097 

Series 4 Preferred Stock

 

 17,981,883 

Total purchase consideration

$

 19,807,980 



Fair Value of Assets Acquired and Liabilities Assumed



 

 



 

 

Recognized amounts of identifiable assets acquired:

 

 

Cash

$

 43,118 

Inventory

 

 141,041 

Prepaid expenses and other

 

 7,314 

Equipment, furniture, and fixtures

 

 1,290 

Intangible assets:

 

 

In-process research and development

 

 18,000,000 

Developed technology - PREBOOST®

 

 2,400,000 

Covenants not-to-compete

 

 500,000 

Total intangible assets

 

 20,900,000 



 

 21,092,763 

Recognized amounts of identifiable liabilities assumed:

 

 

Accounts payable

 

 (1,087,212)

Accrued expenses

 

 (276,503)

Deferred tax liabilities

 

 (6,800,000)



 

 (8,163,715)

Total identifiable net assets acquired

 

 12,929,048 

Goodwill

 

 6,878,932 



$

 19,807,980 



Pro Forma, Net Revenues and Net Income (Loss) Combined Entity



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three Months Ended

 

Six Months Ended



March 31,

 

March 31,



2017

 

2016

 

2017

 

2016

Net revenues

$

 2,405,519 

 

$

 4,776,186 

 

$

 5,650,262 

 

$

 13,011,257 

Net (loss) income

$

 (1,776,642)

 

$

 (647,946)

 

$

 (3,710,178)

 

$

 588,449