|9 Months Ended|
Sep. 30, 2015
|Goodwill and Intangible Assets Disclosure [Abstract]|
4. 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 equity 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, $26,975 and $80,608 for the three months ended September 30, 2014 and for the three and nine months ended September 30, 2015, respectively.
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://www.xbrl.org/2003/role/presentationRef