Quarterly report pursuant to Section 13 or 15(d)

Acquisition of Aquarius Biotechnologies, Inc. (Tables)

v3.5.0.2
Acquisition of Aquarius Biotechnologies, Inc. (Tables)
 9 Months Ended
Sep. 30, 2016
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
The acquisition-date fair value of the consideration transferred totaled $2,873,035 as of January 29, 2015 and consisted of the following items:
  
Fair value of 4,608,020 of common stock issued at a price per share of $0.46 as of January 29, 2015 the closing date of the merger.
 
$
2,119,689
 
 
 
 
 
 
Fair value of potential Matinas common stock as contingent consideration that will be issued upon achieving certain future clinical milestone-(a)
 
 
422,609
 
 
 
 
 
 
Fair value of potential Matinas common stock as contingent consideration that will be issued upon achieving certain future regulatory milestone-(a)
 
 
330,737
 
 
 
 
 
 
Total consideration
 
$
2,873,035
 
 
(a)-Reflects recognition of the estimated fair value of the contingent consideration payable with issuance of Matinas common stock upon achievement of certain future clinical and regulatory milestones, the achievement of which is uncertain. The fair value of the additional shares were established by assigning probabilities and projected dates of positive outcome for the milestones and valuing the future issuance of the shares by using the Black-Scholes options pricing model to account for the uncertainty in the future value of the shares. The value of the shares as derived using the options pricing model were then weighted based on the probability of achieving the milestones to determine the fair market value of the additional shares. The entire $753,346 of contingent consideration was recorded as additional paid-in capital at December 31, 2015.