12. Business Combinations
|12 Months Ended|
Dec. 31, 2016
|Business Combinations [Abstract]|
Completion of Merger
On November 2, 2015, the Company completed the Merger, which was accounted for as a reverse acquisition. As such, the prior period equity amounts have been retroactively restated to reflect the equity instruments of the legal acquirer. The consideration given for CollabRx totals $12,289,297, consisting of the fair value of common stock and warrants exchanged in the merger transaction.
The following table summarizes the fair values of assets acquired and liabilities assumed at the acquisition date of CollabRx.
At December 31, 2015, the Company determined that all of its goodwill and intangibles were impaired. As a result, it recorded an impairment charge of $20,143,320 for the year ended December 31, 2015.
Pro-Forma Financial Information
The following unaudited pro forma data summarizes the results of operations for the years ended December 31, 2015 as if the acquisitions of CollabRx, Clinlab and Epinex had been completed January 1, 2014. The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place on January 1, 2014.
The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).
Reference 1: http://www.xbrl.org/2003/role/presentationRef