Intellectual Property |
6 Months Ended | ||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015 | |||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
| Intellectual Property |
3. Intellectual Property
On July 3, 2014, five of the founding stockholders contributed the rights to certain intellectual property to the Company in exchange for the issuance of 4,101,822 shares with a fair value of $1,059,000. This contribution was recorded as an intangible asset with an offset to additional paid in capital for $637,158 and deferred taxes for $421,842.
Intellectual property, net, is comprised of the following as of the dates indicated:
Amortization expense was $0, $26,817 and $53,634 for the period from inception (June 20, 2014) through June 30, 2014 and for the three and six months ended June 30, 2015, respectively. |
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