Quarterly report pursuant to Section 13 or 15(d)

ASSET ACQUISITIONS AND SIGNIFICANT TRANSACTIONS (Tables)

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ASSET ACQUISITIONS AND SIGNIFICANT TRANSACTIONS (Tables)
6 Months Ended
Jun. 30, 2016
Business Combinations [Abstract]  
Schedule of Acquisition Date Fair Value Consideration Transferred

The acquisition-date fair value of the consideration transferred consisted of the following items:

 

Common stock – 2,000,000 shares

 

$

480,000

 

Note payable – Prime Table Games LLC

 

 

12,200,000

 

Note payable – Prime Table Games UK

 

 

10,000,000

 

Total

 

$

22,680,000

 

 

Schedule of Asset Acquisition Allocation

The allocation of the total purchase price to the net assets acquired is as follows:

 

Patents

 

$

13,259,000

 

Customer relationships

 

 

3,400,000

 

Trademarks

 

 

2,740,000

 

Debt discount

 

 

1,530,000

 

Goodwill

 

 

1,091,000

 

Non-compete agreement

 

 

660,000

 

Total purchase price allocation

 

$

22,680,000